Jiangxi Tungsten Equipment adjusts operations, governance after major asset swap

Jiangxi Tungsten Rare And Precious Equipment Co., Ltd. (formerly Anyuan Coal Industry Group) is convening its Fourth Extraordinary General Meeting of Shareholders on November 14, 2025, to approve several key changes. These include revisions to the company’s Articles of Association, Shareholder Meeting Rules, and Board of Directors Meeting Rules, reflecting updates in corporate governance regulations. A significant proposal is the abolishment of the Supervisory Board, with its responsibilities transitioning to the Board's Audit Committee.

The company also plans to adjust its 2025 daily related transaction forecast. Following an asset swap completed on August 11, 2025, where coal-related assets were exchanged for a 57.00% stake in Ganzhou Jinhuan Magnetic Separation Technology Equipment Co., Ltd., the company's main business shifted from coal to magnetic separation equipment. This change necessitates a reduction in the estimated total value of daily related transactions from up to yuan 2,340,720,000 to up to yuan 38,630,000.

Additionally, auditor fees for 2025 will be adjusted, with financial statement audit fees decreasing from yuan 1,100,000 to yuan 400,000 and internal control audit fees from yuan 400,000 to yuan 200,000. This brings the total from yuan 1,500,000 to yuan 600,000, due to reduced workload post-asset swap.