Shaanxi Coal approves governance reforms, related party transactions at EGM

Beijing Jiayuan Law Offices issued a legal opinion confirming the validity of Shaanxi Coal Industry Company's 2025 second extraordinary general meeting, held on November 18, 2025. The meeting, convened by the company's board of directors, involved 896 shareholders representing 6,706,673,899 shares, or 69.1766% of voting rights. Shareholders approved seven key proposals, including amendments to the company's articles of association and rules governing shareholder and board meetings, and the independent director system.

A significant outcome was the approval of the 2026 forecast for daily related party transactions, where 311,552,591 shares (81.8339%) voted in favor among non-related shareholders, with related parties abstaining. The meeting also passed revisions to the company's fund-raising management system and profit distribution policy. The legal opinion affirms that the meeting's convocation, procedures, and attendee qualifications complied with relevant laws and the company's articles.