Shanxi Meijin Energy overhauls governance, abolishes supervisory committee

Shanxi Meijin Energy, on September 17, 2025, approved substantial changes to its corporate governance, including the abolishment of its Supervisory Committee. The committee's functions will be transferred to the Board of Directors' Audit Committee. This decision, along with amendments to the Articles of Association and various governance policies, will be submitted for shareholder approval at the third extraordinary general meeting on October 10, 2025. These changes aim to align with updated regulations and enhance governance.

The revisions also encompass updates to critical internal management policies, including the Major Investment Management System, External Guarantees Management System, Related Party Transactions Management Measures, and Fundraising Management System, all effective from September 2025. These updates emphasize risk control, transparency, and compliance with the latest laws.

Additionally, the company proposed the purchase of Directors and Officers (D&O) liability insurance up to CNY 80,000,000, with a premium not exceeding CNY 300,000 for a one-year term. Mr. Liu Xiaoming was nominated as an independent director candidate to maintain board composition, replacing Mr. Li Yumin, who is retiring. These actions underscore the company's commitment to strengthening its governance and risk management.