Hengyi Petrochemical shareholders approve key related-party transactions

Hengyi Petrochemical Co., Ltd. held its third extraordinary general meeting of shareholders in 2025 on November 14, 2025, with 180 shareholders representing 67.72% of the total voting shares. The meeting approved two key proposals: the "Proposal on the Estimated Amount of New Daily Related-Party Transactions for 2025" and the "Proposal on Providing Related-Party Entrusted Loans to Yisheng New Materials, an Invested Company."

The first proposal, regarding the estimated amount of new daily related-party transactions for 2025, received 98.76% of votes in favor from attending shareholders, with 0.14% against and 1.10% abstentions. Hengyi Group and its affiliates abstained from voting due to their status as related parties. The second proposal, concerning related-party entrusted loans, was passed with 99.76% of votes in favor, 0.04% against, and 0.20% abstentions. Both proposals were ordinary resolutions, requiring more than half of the attending shareholders' voting rights for approval.

The meeting procedures, attendee qualifications, and voting process were deemed compliant with relevant laws, regulations, and the company's articles of association by Zhejiang Tiance Law Firm, ensuring the validity and legality of the resolutions.