CITIC Heavy Industries approves governance changes, appoints new director

CITIC Heavy Industries announced the successful conclusion of its Second Extraordinary General Meeting of Shareholders for 2025, held on October 13, 2025. Key resolutions approved include the cancellation of the supervisory board and corresponding amendments to the company's articles of association. Additionally, the meeting approved the election of a new director and revisions to the rules governing shareholder and board meetings, as well as the independent director work system and cumulative voting implementation rules. The company also updated its shareholder return plan for 2024-2026.

In a related announcement on October 14, 2025, CITIC Heavy Industries confirmed the election of Yang Changliang as a workers' director. Yang, born in 1985, holds an MBA and master of engineering degree, and currently serves as the director of the party committee organization department and human resources department. His appointment aligns with the revised articles of association, which stipulate the inclusion of one workers' director on the board.

The company affirmed that Yang’s qualifications meet all relevant legal and regulatory requirements.