Wanhua Chemical approves capital reduction, dissolves supervisory board

Wanhua Chemical Group Co., Ltd. announced that its 2025 first extraordinary general meeting, held on October 28, 2025, approved key amendments to its Articles of Association. The approved resolutions include a reduction in registered capital, modifications to the Articles of Association, and the abolition of the supervisory board. These changes were adopted by a special resolution, with over two-thirds of the voting rights held by attending shareholders and their proxies approving the proposal.

The resolution to reduce registered capital, amend the Articles of Association, and eliminate the supervisory board was passed with 99.1843% of votes in favor from shareholders holding less than 5% of the company’s shares. Furthermore, revisions to the Rules of Procedure for the General Meeting and the Rules of Procedure for the Board of Directors were also approved.

The legal opinion confirmed that the convening and conduct of the general meeting, the qualifications of attendees, the convener's qualifications, the review items, and the voting procedures complied with relevant laws and regulations, including the Company Law and the company's Articles of Association, validating the legality and effectiveness of the resolutions.