Chuantou Energy to revamp governance, redirect funds, appoint new director

Sichuan Chuantou Energy Co., Ltd. is preparing for its second extraordinary general meeting in 2025, where key proposals will be presented to shareholders. A major item on the agenda is the revision of the company's Articles of Association, which includes the dissolution of the supervisory board, with its functions to be absorbed by the board's audit committee. This move aims to streamline corporate governance and maintain compliance with updated regulations.

Another significant proposal involves changing the allocation of 600 million yuan in raised capital. This amount, part of 1.439 billion yuan in unutilized funds from a 2019 convertible bond issuance, is intended to be redirected towards the Hubei Yuan'an pumped storage power station project. The overall project has a total investment of 8.199 billion yuan, with 386 million yuan already invested as of June 30, 2025. The company will contribute to this project proportionally with other shareholders.

Additionally, the meeting will address the appointment of Han Yunwen as a new director to the eleventh board, filling the vacancy left by Gong Yuan's resignation. Han, born in 1967, brings extensive experience as a senior engineer and previous roles within the energy sector, including positions at Sichuan Energy Investment Group.