Xinte Energy abolishes supervisory board, streamlines governance

Xinte Energy Co., Ltd. announced the poll results of its Third Extraordinary General Meeting (EGM) held on 2 December 2025. Shareholders approved an ordinary resolution concerning transactions under a supplemental miscellaneous services framework agreement with TBEA Co., Ltd., with 142,131,864 votes cast in favor. TBEA, holding approximately 66.61% of Xinte Energy's issued share capital, abstained from voting due to its material interest in the resolution.

Concurrently, Xinte Energy is implementing substantial corporate governance changes, including the proposed abolishment of its supervisory board. The relevant powers will transfer to the board's audit committee, necessitating amendments to the articles of association and rules of procedure for the board of directors and shareholders' general meetings. These changes align with new PRC regulations from February 2023, which also treat domestic and H shares as the same class, effective from the date of shareholder approval.