Xiamen Xiangyu announces strategic overhaul, capital increase, and board changes

Xiamen Xiangyu has announced a capital increase and the dissolution of its supervisory board, leading to a revised Articles of Association. The company's registered capital will increase to CNY 2,840,589,339. This follows the buyback and cancellation of 38,031,944 shares under an equity incentive plan and the issuance of 71,626,000 new shares.

Additionally, Xiamen Xiangyu's subsidiary, Hong Kong Xingyao Shipping, will bring in industrial investor Xingtong Shipping, which will acquire a 51% stake. Xiamen Xiangyu will provide a proportional guarantee of up to CNY 53,000,000 for bank credit and financial assistance of up to CNY 53,000,000, at an annual interest rate of 3.5% for five months.

The company is also renewing its supply chain financial services agreement with Xiangyu Jinxing Holding Group, for a maximum balance of CNY 5,000,000,000 for three years. All these changes, including the election of a new 15-member board of directors—comprising nine non-independent and five independent directors—will be put to a vote at an extraordinary general meeting on December 15, 2025. This comprehensive strategic adjustment aims to improve governance and operational efficiency.