Lingyuan Steel shareholders approve share repurchase, capital change at EGM

Lingyuan Iron & Steel Co., Ltd. announced the successful passing of all proposed resolutions at its third extraordinary general meeting of shareholders held on August 28, 2025. A total of 285 shareholders and proxies, representing 1,990,204,254 voting shares or 70.6709% of the total voting shares, participated in the meeting. The resolutions required approval by more than two-thirds of the effective voting shares.

The first resolution, concerning the repurchase and cancellation of a portion of restricted shares under the 2024 restricted stock incentive plan, passed with 99.9818% of votes in favor from A-share holders. The second resolution, regarding the change in registered capital and revision of the articles of association, along with handling industrial and commercial changes, also passed with a strong majority of 99.9852%.

Independent legal opinion from Beijing Jingtian & Gongcheng Law Firm confirmed that the meeting's convening, procedures, and resolutions comply with Chinese laws, regulations, and the company's articles of association, ensuring the validity of the results.