Junzheng Group to overhaul governance and management

Inner Mongolia Junzheng Energy & Chemical Group has passed resolutions to abolish its Supervisory Board, with its functions to be taken over by the Audit and Risk Control Committee, effective after shareholder approval. This change necessitates extensive revisions to the company articles and the formulation or amendment of 29 other governance documents, including the Investment Management Measures, Related Party Transaction Management Measures, Financial Instruments Management Measures, and Insider Information Management System, all effective November 12, 2025, or following shareholder approval.

The company is also addressing executive changes, with Mr. Zhang Haisheng, Mr. Zhang Hai, and Mr. Yang Donghai resigning from their board and committee positions. Liu Chunlei and Wu Guoqiang have been nominated as new board members, pending shareholder vote. Wu Guoqiang and Wang Zhe have been appointed as vice general managers, and Mr. Zhang Hai's role has been adjusted to vice general manager.

A provisional shareholders’ meeting has been scheduled for November 27, 2025, to approve these changes. Shareholders will vote on the abolition of the Supervisory Board, the updated company articles, and the revised governance measures, which collectively aim to enhance the company's operational efficiency and adherence to the latest legal and regulatory standards.