Xining Special Steel shareholders approve governance changes, operational proposals

Xining Special Steel Co., Ltd. held its third extraordinary general meeting of shareholders on September 15, 2025, with 833 shareholders and proxies attending. These attendees represented 2,151,511,404 voting shares, or 66.0963% of total voting shares. The meeting, convened by the board of directors and chaired by Wang Shifeng, saw all resolutions passed without any rejections.

Key approvals included an increase in the estimated amount of related-party transactions for 2025, which passed with 99.8320% of votes in favor. Shareholders also approved the re-appointment of the financial and internal control auditing firm for 2025.

Significant governance changes were endorsed, such as the cancellation of the Supervisory Board and amendments to the company's articles of association, receiving 99.9022% support. Additionally, revisions to multiple governance documents, including the "Shareholder Meeting Rules," "Board of Directors Meeting Rules," and "Related Party Transaction Management System," were passed. The "Supervisory Board Meeting Rules" was abolished. Finally, the proposal to purchase liability insurance for the company, directors, and senior management was also approved.