Sitong to revise charter, expand commodities hedging program

Hebei Sitong New Metal Material (SZSE:300428) announced it will convene its second extraordinary general meeting of shareholders in 2025 on October 30, 2025. This meeting will address comprehensive revisions to the company's articles of association and several internal governance policies, including those related to shareholder and board meeting rules, independent director functions, and risk management. The revisions are prompted by updates to the "Company Law" and other regulatory guidelines.

A key agenda item for the meeting is a proposal to increase the company's commodity futures hedging quota. The company plans to raise the total capital (margin) for its hedging operations from not exceeding CNY 580m to CNY 710m, and the total transaction limit from CNY 7.45bn to CNY 9.45bn. This expansion aims to mitigate price volatility risks for raw materials like aluminum, copper, silicon, and lithium carbonate, safeguarding operational stability.

The increased hedging quota and the revised articles of association will be effective from the date of shareholder approval. Several proposals, including those concerning the company's charter and meeting rules, require approval by two-thirds of the voting rights present.