TBEA to hold EGM on governance changes, related-party deals

TBEA announced that its sixth extraordinary general meeting for 2025 will take place on December 29, 2025, in Changji, Xinjiang. The agenda includes proposals for hedging and forward foreign exchange trading, as well as significant related-party transactions for 2026. The company plans to engage in hedging trading with an estimated maximum asset value of 798 billion yuan, with trading margin and premium not exceeding 8.6 billion yuan. Forward foreign exchange trading is capped at a maximum contract value of $5 billion, with trading margin and premium not exceeding $0.1 billion.

Key governance changes include a proposal to abolish the supervisory board, with its functions to be assumed by the audit committee of the board of directors. Consequently, the company also proposes revisions to its Articles of Association, the Shareholders' Meeting Rules, the Board of Directors' Meeting Rules, and the Independent Director Work System.

Related-party transactions with Xinjiang TBEA Group Co., Ltd. for 2026 are estimated at 56.40 billion yuan, involving the procurement of products and services, as well as sales and leasing. Notably, purchases from related parties are projected to be 35 billion yuan for products and 15 billion yuan for labor services.