Huasheng Tianlong amends subsidiary contract, revises governance, reappoints auditor

Jiangsu Huasheng Tianlong Photoelectric's wholly-owned subsidiary, Sichuan Zhongshu Shilian Construction Engineering Co., Ltd., has revised a construction contract for the YouNeng Hunan Lingling Liangshanqi Wind Power Plant Project. The contract counterparty changed from Hunan YouNeng Lingling Wind Power Co., Ltd. to China Power Construction Group Guizhou Engineering Co., Ltd., with the total contract amount adjusted from 85,000,000 yuan to 82,520,000 yuan. This modification, a related party transaction, is subject to shareholder approval at an extraordinary general meeting on November 11, 2025.

In conjunction with this, the company plans to amend its Articles of Association, eliminating the Supervisory Board's functions, which will now be exercised by the Board's Audit Committee. This requires a two-thirds majority vote from shareholders. Additionally, the company proposes revisions to ten corporate governance policies, including rules for shareholder meetings, board meetings, and related party transactions, aiming to enhance governance and operational efficiency. The company also intends to re-engage Zhongxinghua Certified Public Accountants (Special General Partnership) as its auditor for 2025, with an audit fee of 1,200,000 yuan.

These changes, approved by the Board of Directors and Supervisory Board, highlight the company's efforts to adapt its operational and governance framework. The third-quarter financial report, also released, indicates a total revenue of 51,638,347.87 yuan and a net profit attributable to shareholders of -14,653,506.03 yuan for the period ending September 30, 2025.