Xiangtan Electric shareholder agreement extended, stability secured

Xiangtan Electric Manufacturing (SSE:600416) announced the renewal of its "Voting Rights Entrustment and Concerted Action Agreement" between shareholders Xiangdian Group Co., Ltd. and Hunan Xiangxiang Investment Holding Group Co., Ltd. effective June 24, 2025. The agreement ensures consistent action on key company decisions by delegating all voting rights of Xiangxiang Holding Group to Xiangdian Group, maintaining their combined stake of 406,919,250 shares, representing 30.7% of the total share capital. Specifically, Xiangxiang Holding Group holds 225,929,169 shares, representing 17.05% of total equity, with Xiangdian Group holding 180,990,081 shares, representing 13.66%. The extension aims to maintain decision-making consistency and ensure the continued stability of Xiangtan Electric's strategic direction, with no change to the actual control of the company and no adverse impacts to shareholders.