COSCO Shipping Energy to hold extraordinary general meeting for governance updates

COSCO Shipping Energy Transportation Co., Ltd. announced it will hold its Second Extraordinary General Meeting of Shareholders in 2025 on September 26, 2025, at 10:00 AM in Shanghai. The meeting will address the proposed cancellation of the supervisory board and revisions to various governance documents, including the "Articles of Association." These changes aim to comply with new company law and regulatory requirements taking effect by January 1, 2026, which mandate that the board's audit committee assume the supervisory board’s functions.

The agenda includes 11 non-cumulative voting proposals, such as amendments to the "Articles of Association," "Shareholders Meeting Rules," and "Board of Directors Meeting Rules," along with the abolition of the "Supervisory Board Meeting Rules." Other revisions pertain to independent director work systems, related-party transaction management, and the 2023 stock option incentive plan. Proposals 1-4 require a two-thirds majority vote, while proposals 5-11 require a simple majority.

Shareholders can participate through in-person and online voting via the Shanghai Stock Exchange's online voting system. The record date for attendance is September 22, 2025. Further details, including the specific amendments and comparative tables, were published on August 16, 2025, on the Shanghai Stock Exchange website and in relevant financial newspapers.