Wintime Energy updates Articles of Association, capital management

Wintime Energy Group Co., Ltd. announced the revision of its Articles of Association, effective from the date of shareholder approval in October 2025. This update incorporates new regulations from the China Securities Regulatory Commission and other relevant authorities. Key changes include a refined governance structure, updated provisions for shareholder rights and obligations, and clearer guidelines for the roles and responsibilities of the board of directors, senior management, and the newly established Party Committee and Discipline Inspection Commission.

Concurrently, the company also updated its "Raised Capital Management and Use System," ensuring enhanced oversight and efficient utilization of funds acquired through public offerings. This system outlines stricter procedures for the deposit, management, and use of raised capital, including detailed approval processes for expenditures, changes in investment projects, and the temporary use of idle funds. The revised policy mandates that any unutilized raised capital or significant changes in its application must undergo thorough review by the board of directors, independent financial advisors, and shareholders, emphasizing the protection of investor interests.

Furthermore, the updated Articles of Association specify that the company's registered capital is RMB 21,817,764,145. The company will establish dedicated accounts for raised capital, and any single withdrawal exceeding RMB 50,000,000 or 20% of the net raised capital will require immediate notification to the guarantor or independent financial advisor. These comprehensive revisions aim to strengthen internal controls, increase transparency, and ensure the company's sustainable growth.