Hangzhou Iron & Steel appoints employee director, abolishes supervisory board

Hangzhou Iron & Steel Company Limited announced the election of Mr. Wang Haijun as an employee representative director to its Ninth Board of Directors. This follows a resolution passed at the 2025 first extraordinary general meeting on September 10, 2025, to abolish the supervisory board and establish employee director positions on the board. Mr. Wang's term will run from his election until the end of the ninth board's tenure.

Concurrently, the board held its nineteenth meeting of the ninth session on September 10, 2025, where it approved the election of Mr. Wu Dongming as the director representing the company in executive matters and legal representative. The board also adjusted the composition of its specialized committees—audit, strategy, nomination, and remuneration & appraisal—to ensure effective functionality following changes in board membership.

The company's first extraordinary general meeting also approved revisions to certain management systems. The changes, including the abolishment of the supervisory board, amendments to the articles of association, and related rules, were passed with a significant majority. These governance updates ensure compliance with relevant laws and regulations and reflect the company's evolving operational structure.