Tangshan Sanyou Chemical to issue 1.3 bn yuan in medium-term notes, changes director

Tangshan Sanyou Chemical Industries plans to issue medium-term notes totaling up to 1.3 billion yuan, with a three-year term, to repay interest-bearing debt and supplement working capital. The issuance will be conducted in one or multiple tranches within the registration's validity period, with interest rates determined by book-building. This proposal was approved by the board on December 15, 2025, and is subject to shareholder approval at the upcoming 2025 Fourth Interim Shareholders' Meeting on December 31, 2025.

The company also announced the departure of independent director Chen Aizhen, whose six-year term is expiring. The board approved the nomination of Huang Wei as a new independent director candidate. Huang Wei's qualifications are pending Shanghai Stock Exchange review, and his appointment is also subject to shareholder approval. Chen Aizhen will continue her duties until a new independent director is elected.

The board also approved the convening of the 2025 Fourth Interim Shareholders' Meeting to vote on both the medium-term notes issuance and the election of the new independent director.