Hengdian DMEGC shareholders approve governance changes, new director

Hengdian Group DMEGC Magnetics announced the resolutions from its first extraordinary general meeting of shareholders in 2025, held on September 10, 2025. Shareholders approved the 2025 semi-annual profit distribution plan and a special resolution to adjust governance structure, change the business scope, and revise the company’s articles of association. Additionally, revisions to several governance policies, including shareholder meeting rules, board meeting rules, related party transaction decision-making, external guarantee management, independent director work systems, and compensation management were passed.

The meeting also saw the election of Mr. Lü Yuelong as a non-independent director for the ninth board of directors. Following this, the company's ninth board of directors convened on September 10, 2025, confirming the election of Mr. Ren Hailiang as chairman and legal representative. Adjustments to the composition of the board’s specialized committees were also approved, including the Strategic and ESG Committee, Audit Committee, Nomination Committee, and Remuneration and Assessment Committee. Notably, the Audit Committee now comprises three members, with Ms. Lü Yan as chair and a majority of independent directors.