Daqin Railway approves share buyback, names new director and chairman

Daqin Railway Company Limited held its first extraordinary general meeting of shareholders in 2025 on September 23, approving a comprehensive share buyback plan. The repurchased shares will be canceled to reduce registered capital, a move aimed at enhancing per-share earnings and boosting investor confidence. All ten proposals related to the share buyback, including its purpose, method, duration, and funding from company-owned capital, were passed. Additionally, the company is set to re-sign a state-authorized operating land-use right transfer agreement.

During the same meeting, shareholders approved the resolution to cancel the supervisory board and revise the company's articles of association. An important resolution involved the election of Mr. Zhang Hongyi as a director for the seventh board of directors. Furthermore, the company's board of directors appointed Mr. Lu Yong as the legal representative and chairman of the board’s strategic committee.

The board also approved a motion to transfer authority to the management to handle share repurchases, including signing related documents and modifying the company's articles of association.