Oriental Energy to revamp governance, mull guarantee for subsidiary

** Oriental Energy (SZSE:002221) is set to undergo a governance revamp, including abolishing its supervisory board and updating its articles of association, contingent on shareholder approval at the upcoming extraordinary general meeting (EGM). The proposed changes align the company with updated regulatory norms and streamline operational efficiency by shifting supervisory responsibilities to the audit committee. Alongside the governance changes, Oriental Energy's board greenlit a proposal to provide a guarantee for its subsidiary, Ma Sen Energy (Nanjing) Co., Ltd., totaling up to CNY 200 million in credit lines. The guarantee aims to support Ma Sen Nanjing’s operations, with reciprocal counter-guarantees from other Ma Sen group entities. If approved, the move would bring Oriental Energy’s total external guarantees to CNY 20.994 billion, representing 189.20% of its net assets. Shareholders will vote on both the governance overhaul and the subsidiary guarantee at the forthcoming EGM.