Nanjing Hanrui Cobalt to overhaul governance, boost capital, guarantee subsidiary

Nanjing Hanrui Cobalt announced on November 6, 2025, a series of comprehensive corporate governance adjustments following board and supervisory board meetings. The changes include the removal of the Supervisory Board, with its functions transferred to the Board of Directors' Audit Committee, and a capital increase from CNY 308,324,991 to CNY 309,697,091 due to the conversion of restricted shares from its 2024 incentive plan. These changes necessitate amendments to the company's Articles of Association and various internal governance documents.

The company also announced plans to provide a guarantee of up to CNY 150,000,000 for its wholly-owned subsidiary, Hanrui Alaska Mining (Hong Kong) Co., Ltd., to support its operational and financial stability. This guarantee will contribute to a total guarantee amount of CNY 615,000,000, representing 110.96% of the company's net assets as of the end of 2024. All these resolutions will be submitted for shareholder approval at the first extraordinary general meeting in 2025 on November 21.

To support the revised governance framework, Nanjing Hanrui Cobalt will update eight existing policies and introduce three new ones, including a revised "Internal Audit System" and "Major Event Internal Reporting System," aimed at enhancing operational efficiency and compliance. Additionally, the "Disclosure Management System," "Hedging Business Internal Control System," "Investor Relations Management System," and "Information Disclosure Suspension and Exemption Management System" have been revised to align with new regulatory requirements.