Wintime Energy to revamp governance, abolish supervisory board

Wintime Energy will hold its second extraordinary general meeting of shareholders in 2025 on October 28, 2025, to approve comprehensive revisions to its Articles of Association and related internal regulations. The most notable change involves the abolition of the supervisory board, with its functions to be absorbed by the board of directors' audit committee.

The proposed amendments also include modifications to shareholder rights and responsibilities, such as clarifying conditions for shareholder litigation and the process for calling extraordinary general meetings. Key thresholds for asset-related transactions and dividend distribution policies are also being updated.

Furthermore, the company is revising its rules for managing raised capital, particularly regarding the use of idle funds and changes to investment projects. The updated rules aim to enhance transparency and efficiency in capital allocation, ensuring compliance with legal and regulatory requirements.