Sinopec Shanghai Petrochemical shareholders approve capital reduction, new director

At its Second Extraordinary General Meeting of Shareholders in 2025, Sinopec Shanghai Petrochemical Co. Ltd. passed resolutions to reduce its registered capital, abolish the supervisory board, adjust its business scope, and amend the articles of association and its appendices. Shareholders also approved a new product supply and sales service framework agreement and a comprehensive service framework agreement for 2026-2028, along with their associated maximum transaction amounts.

Furthermore, the meeting successfully elected Mr. Lu Zhiyong as a non-independent director to the eleventh session of the board. The resolutions, including the special resolution for the capital reduction, were passed with a supermajority of shareholder votes. Related parties, including Sinopec, abstained from voting on the connected transactions.

The company's articles of association and its appendices are now amended, reflecting the approved changes. These amendments are effective immediately, and the board of directors is authorized to implement the updated articles of association, ensuring compliance with legal and regulatory requirements.