Dongfang Electric to revise governance, capital structure following share placement

Dongfang Electric Corporation will hold its Second Extraordinary General Meeting of Shareholders in 2025 on November 28, 2025. Shareholders will vote on comprehensive revisions to its articles of association and shareholder meeting rules.

These proposed changes, approved by the Eleventh Board of Directors' Fourteenth Meeting, primarily involve adjusting the company's capital structure, governance framework, and shareholder rights. The revisions include updates to the company’s issued share capital, with the total ordinary share capital increasing to RMB 3,458,360,326. This reflects a recent private placement of 272,878,203 A shares to three specific investors, including China Dongfang Electric Group Co., Ltd., and an issuance of 68,000,000 H shares to specific investors.

The proposed amendments will also redefine the company’s registered capital and update its business scope to include procurement and bidding agency services. Additionally, the changes clarify shareholder rights and obligations, director responsibilities, and the procedures for shareholder meetings, including rules for related-party transactions and external guarantees. The company aims to align its governance with current legal and regulatory requirements through these revisions.

Shareholders will vote on these special resolutions, which require approval from more than two-thirds of the voting rights held by shareholders present at the meeting. The meeting will be held both in-person and via an online voting system provided by the Shanghai Stock Exchange.