Western Mining shareholders approve governance changes, abolish board of supervisors

Western Mining Co., Ltd. held its third extraordinary general meeting of shareholders on December 24, 2025, where several key resolutions were approved. Among these was the election of Wang Zhengwen as an independent director to the eighth board of directors. Shareholders also voted to re-appoint Deloitte Huayong Certified Public Accountants (Special General Partnership) as the company's auditor for 2025 and approved their remuneration. These resolutions received strong support, with 98.52% of votes in favor for the independent director election and 97.03% for the auditor re-appointment.

The meeting also addressed several changes to corporate governance documents, including revisions to the company's articles of association, shareholder meeting rules, board of directors meeting rules, and related party transaction management measures. Shareholders passed proposals for estimated daily related-party transactions for 2026, including transactions with Western Mining Group Co., Ltd. and its subsidiaries, as well as with Xining Special Steel Co., Ltd. and its subsidiaries. Estimated daily related-party transactions for the company's controlled subsidiary, Western Mining Group Finance Co., Ltd., for 2026, were also approved.

Importantly, the proposal to cancel the board of supervisors and abolish the "rules of procedure for the board of supervisors" was passed, marking a significant structural change. A legal opinion from Qinghai Shuren Law Firm confirmed that the meeting's procedures, attendee qualifications, and voting process were lawful and valid.