Xiangtan Electric shareholders approve governance overhaul, abolish supervisory board

Xiangtan Electric Manufacturing Co., Ltd. held its Second Extraordinary General Meeting of Shareholders for 2025 on November 18, 2025. The meeting saw 643 shareholders and proxies attend, representing 537,741,807 shares, or 36.4377% of total voting shares. All six proposals presented were passed.

A critical resolution to abolish the supervisory board and amend the Articles of Association was approved as a special resolution with over two-thirds of the voting rights represented. Other resolutions passed included revisions to the "Rules of Procedure for Shareholder Meetings," "Rules of Procedure for Board Meetings," "Independent Director Work System," "Management System for Raised Funds," and "Related Party Transaction Decision-making System."

Each of these proposals received strong support from attending shareholders, with approval rates consistently above 98.6%. For instance, the revised "Rules of Procedure for Shareholder Meetings" garnered 530,525,905 votes in favor, representing 98.6581% of the votes.

The meeting confirmed Xiangtan Electric's commitment to modernizing its governance structure and operational efficiency. Guangdong Huashang Law Firm, represented by lawyers Li Shaofeng and Peng Shuqing, verified the legality and validity of the meeting's convening, procedures, and resolutions.