Xinxing Ductile Iron Pipes names new non-independent director, approves financial deals

Xinxing Ductile Iron Pipes held its second extraordinary general meeting of shareholders in 2025 on November 14, 2025, where all proposed resolutions were passed without any rejections. Key approvals included the signing of a financial services agreement with Xinxing Jihua Group Financial Co., Ltd., and adjustments to the estimated daily related party transaction amounts for 2025.

The meeting also saw the reappointment of the accounting firm and the approval of the company’s 2025-2027 shareholder dividend return plan. Importantly, Mr. Wang Changhui was elected as a non-independent director for the company's tenth board of directors. Mr. Wang, born in 1968, has held various leadership roles within the company and its affiliates since 1989 and currently serves as the general manager. He holds 122,549 shares in the company.

His appointment ensures that the total number of directors also serving as senior management or employee representatives does not exceed one-half of the total board members. The meeting procedures and resolutions were confirmed to be in compliance with relevant laws and company articles.