Henan Dayou Energy proposes corporate governance overhaul, to eliminate supervisory board

Henan Dayou Energy Co., Ltd. announced on November 12, 2025, a decision by its ninth board of directors to cancel the supervisory board and revise the company's articles of association and related systems. This move, in line with updated legal and regulatory frameworks, will transfer the supervisory board's functions to the board of directors' audit committee. The company's supervisory board and its members will continue to operate as per existing regulations until shareholders approve the cancellation.

Shareholders will vote on this proposal at the second extraordinary general meeting of 2025, scheduled for November 28, 2025. The meeting will be held physically at the company's headquarters and via online voting through the Shanghai Stock Exchange's online voting system. The equity registration date for this meeting is November 21, 2025.

As part of this corporate restructuring, Henan Dayou Energy will also amend its articles of association, with specific changes to be detailed and disclosed on the Shanghai Stock Exchange website. Concurrently, the company will revise or formulate several internal policies, including the shareholder meeting rules, board of directors meeting rules, internal audit system, and a management system for directors and senior executives upon resignation.