COSCO Shipping Energy updates governance, introduces stock option plan

COSCO Shipping Energy Transportation has completed the cancellation of its supervisory board and revised its articles of association, effective October 2025, following approval at its second extraordinary general meeting in September 2025. These revisions, along with 24 other governance documents including the shareholder meeting rules and related party transaction management system, are now in effect, streamlining governance in line with the latest regulatory requirements.

The company also introduced the 2023 stock option incentive plan and its associated assessment and management methods, approved by the shareholders. This plan aims to motivate senior management and key personnel by linking their performance to the company's long-term strategic goals, with specific performance conditions for granting and exercising stock options based on profitability and growth metrics.

Further updates include a revised external guarantee management system and an external investment management system, both approved at the September 2025 extraordinary general meeting. These changes align the company's financial and investment practices with current regulations, reinforcing risk control and safeguarding shareholder interests.