Hunan Gold to revamp governance, boost capital and related-party transaction limit

Hunan Gold Corporation Limited is proposing to amend its Articles of Association, replacing the Supervisory Board with an Audit Committee to streamline governance. Concurrently, the company will raise its registered capital from yuan 1,202,039,474 to yuan 1,562,651,316. These changes necessitate updates to the company’s Articles of Association and rules governing shareholder and board meetings, reflecting a move towards a more efficient governance structure.

The company will hold a second extraordinary general meeting on October 27, 2025, to vote on these amendments, alongside increasing the 2025 estimated daily related-party transaction amount by yuan 500,000,000 to yuan 834,040,000. This adjustment follows an increase in gold prices affecting raw material procurement from Hunan Zhongnan Gold Smelting Co., a related party.

The proposed changes also include modifications to shareholder meeting procedures, emphasizing electronic voting and requiring explicit disclosures for related-party transactions and director nominations. Additionally, a new independent director, Mr. Zhang Yongtao, has been nominated to the board.