Innovation New Material shareholders approve governance overhaul, elect new board

Innovation New Material (SSE:600361) successfully held its fourth extraordinary general meeting of shareholders on December 17, 2025, with 308 shareholders and proxies in attendance, representing 57.5948% of total voting shares. Key resolutions passed include the abolition of the supervisory board and subsequent amendments to the company's articles of association. This particular resolution was a special resolution, requiring a two-thirds majority, and was approved with 99.3573% of votes in favor from A-share holders.

The meeting also saw the approval of several new and revised governance policies, including the "Shareholder Meeting Rules," "Board of Directors Meeting Rules," and "Audit Committee Meeting Rules," all passing with over 99% approval from A-share holders. Additionally, shareholders approved a forecast for 2026 integrated credit lines from banks and financial institutions, an estimated 2026 daily related-party transactions, and the undertaking of futures and derivatives hedging activities for the same year.

The company also elected the ninth board of directors, comprising five non-independent directors and three independent directors. All elected directors received over 99% of valid votes. Related-party transactions and the election of directors involved abstentions from specific related-party shareholders as per regulatory requirements. The meeting's procedures and results were certified as lawful and valid by Beijing Jindu Law Firm.