SIPG announces board changes, executive incentives, and governance overhaul

Shanghai International Port Group (SIPG) convened its 62nd board of directors meeting on November 26, 2025, to approve several key proposals. The board nominated Yu Fulin as a new director, whose term will commence upon approval at the Extraordinary General Meeting. Concurrently, the board approved the 2024 annual operating performance evaluations for its professional managers, distributing a total of RMB 24,158,250 (pre-tax) in incentives across 10 executives.

These resolutions precede the company’s first Extraordinary General Meeting of 2025, scheduled for December 16. Shareholders will vote on the proposed director, as well as several governance revisions. These include the elimination of the supervisory board, amendments to the company’s articles of association and various operational rules, and the appointment of new independent directors. The proposed independent directors are Zhao Jing, Song Xuming, and Tang Song, replacing Zhang Jianwei, Shao Ruiqing, and Qu Linchi, who have served their maximum terms.

Shareholders will also consider the 2025 semi-annual profit distribution plan, which proposes a cash dividend of RMB 0.5 per 10 shares (including tax), totaling RMB 1,164,068,263.10. The audit committee will assume the responsibilities previously held by the supervisory board regarding the A-share restricted stock incentive plan, reflecting the company’s adaptation to updated corporate governance regulations.