Linzhou Heavy Machinery Group shareholders approve governance reforms, appoint director

Linzhou Heavy Machinery Group announced that its second extraordinary general meeting of shareholders in 2025, held on October 10, 2025, passed all proposed resolutions. Key approvals included amendments to the company’s articles of association and various management policies, such as the rules of procedure for shareholders' meetings, rules of procedure for board meetings, independent director work system, regulations on related party fund transactions, related party transaction management system, and the remuneration system for directors and senior management personnel. Additionally, a proposal for supervisory board reform was approved.

The meeting also addressed a related party transaction concerning guarantees provided to related parties, which saw associated shareholders abstaining from voting. In a separate announcement on October 11, 2025, the company disclosed the resignation of Mr. Lü Zanguo as a director due to work reasons. Concurrently, Mr. Lü Zanguo was elected as a new employee-representative director, ensuring the board's composition remains compliant with legal requirements.