SC New Energy Tech increases capital, overhauls governance

Shenzhen SC New Energy Technology Corp announced an increase in its registered capital from 347,713,586 yuan to 348,292,006 yuan, following the completion of the second vesting period for its 2023 restricted stock incentive plan. The change is effective from October 27, 2025. This capital adjustment necessitates amendments to the company's Articles of Association, which also undergo revisions to align with legal requirements and operational needs, including the removal of the supervisory board and an increase in the number of board members.

Accompanying these changes, the company is revising and formulating 18 corporate governance policies to enhance operational efficiency and regulatory compliance. These include updated rules for shareholder meetings, board meetings, related party transactions, external guarantees, and fundraising. Policies related to external guarantees and the selection of accounting firms will require shareholder approval, while others, like the audit committee's work rules, will not.

In a related development, the company will provide an external guarantee of up to 50,000 million yuan (or equivalent foreign currency) for its wholly-owned subsidiary, SC New Energy Malaysia, to support its operational and development needs. The total approved external guarantees for the company and its holding subsidiaries now stand at 544,000.00 million yuan, representing 49.07% of its 2024 audited net assets.