Huayu Mining to expand board, revise governance documents

Tibet Huayu Mining will increase its board of directors from eight to nine members, adding a new employee representative director. This change, along with revisions to the company's Articles of Association and Board of Directors Rules of Procedure, was approved at the Fifth Board of Directors' Eighth Meeting on December 3, 2025. The amendments also incorporate provisions for issuing convertible corporate bonds, aligning with strategic planning, business expansion, and internal governance needs.

The proposed changes include updating Article 100 to explicitly state that employee representative directors are elected by the company's employees through an employee representative assembly, without requiring shareholder approval. Article 109 will reflect the new board composition of nine directors, including one employee representative director and three independent directors. Additionally, Article 133 specifies that employee representative directors can serve on the audit committee.

These governance updates will be presented for shareholder approval as a special resolution at the 2025 Fifth Extraordinary General Meeting, scheduled for December 19, 2025, at 14:30. The meeting will be held at the company's Beijing branch office and will utilize both on-site and online voting methods.