Baofeng Energy shareholders approve governance, investment revisions

Ningxia Baofeng Energy Group Co., Ltd. announced its first extraordinary general meeting of shareholders for 2025 was held on September 8, 2025, with 50.2952% of voting shares represented. Shareholders approved two key proposals: revisions to the company’s Articles of Association and its related attachments, and the revision, formulation, and repeal of related institutional systems. The proposal for amendments to the Articles of Association passed with 97.8563% of votes, while the proposal on institutional systems passed with 97.1925% of votes.

In conjunction with these approvals, the company's "Administrative Measures for Foreign Investment" have been updated. These measures outline criteria for foreign investment decisions, requiring shareholder approval for investments exceeding 50% of the company's audited total assets, net assets, or transaction value, or generating over 50% of audited net profit or operating revenue, with an absolute value greater than CNY 50,000,000. Investments falling below these thresholds but exceeding 10% of the company's financial metrics and absolute values over CNY 10,000,000 require board approval, ensuring robust oversight of the company's investment activities.