China Molybdenum details governance reforms, executive appointments

Luoyang Molybdenum Co., Ltd. has called its Second Extraordinary General Meeting for December 8, 2025, to address key governance and executive changes. Shareholders will consider the election of peng xuhui as an executive director, with his term running until the 2026 annual general meeting. Additionally, ma fei has been nominated as a non-executive director, pending shareholder approval, for a similar term.

A significant proposal includes the abolition of the supervisory board, with its functions to be absorbed by the board of directors' audit and risk committee. This change necessitates extensive revisions to the company articles of association and internal control policies, including those governing shareholder meetings, board meetings, and fundraising management. These updates aim to streamline governance and enhance decision-making efficiency.

The meeting, which allows both in-person and online voting, will also feature approvals for updated policies on external donations, related party transactions, and a revised "Bondholder Meeting Rules." China Molybdenum emphasizes compliance with regulatory requirements from the Shanghai Stock Exchange for all proposed changes.