Hunan Valin Steel approves all resolutions at AGM

Hunan Valin Steel announced the successful passage of all resolutions presented at its 2024 Annual General Meeting, convened on May 20, 2025. A total of 730 shareholders and authorized representatives attended, holding 4,594,153,868 shares, representing 66.4987% of the company's total voting shares. Key approvals included the 2024 Board and Supervisory Committee work reports, the 2024 financial statements, and the 2024 profit distribution plan. Shareholders also approved a plan for shareholder returns over the next three years (2025-2027) and the 2025 fixed asset investment plan, as well as a proposed guarantee limit for subsidiaries. Additionally, shareholders voted in favor of increasing the compensation for independent directors and revising the company's articles of association. Finally, shareholders authorized its subsidiary to issue asset-backed securities, subject to related party voting recusal. The company's legal counsel confirmed the meeting's compliance with relevant laws and regulations.