Linyang Energy shareholders approve asset sale, guarantee increase

Jiangsu Linyang Energy (SSE:601222) announced the resolutions passed at its first interim shareholders' meeting of 2025. A key resolution approved was the transfer of equity in a subsidiary, affecting a portion of the company's previously designated funds. Shareholders also approved increasing the company's expected external guarantee limit for 2025. Furthermore, the assembly approved a subsidiary providing a guarantee for its subsidiary. Of the company's A-shares, 98.8996% voted in favor of the equity transfer. For the increased 2025 external guarantee limit, 97.5332% of A-share votes were in agreement. Regarding the approval for the subsidiary’s guarantee, 98.7198% of A-share votes supported. The resolutions were deemed legally valid by the law firm, Guohao Law Firm.