Western Metal Materials advances subsidiary's major asset restructuring

Western Metal Materials Co., Ltd. held its 21st meeting of the 8th board of directors on November 17, 2025. The board approved the pre-plan for a major asset restructuring of its controlling subsidiary, Xi'an Feierte Metal Filtration Material Co., Ltd. The restructuring is pending completion of audit and valuation work, with details to be published on November 18, 2025. This restructuring does not constitute a major asset reorganization for Western Metal Materials itself.

The board also approved the appointment of Zhonghuan Certified Public Accountants (Special General Partnership) as the audit firm for the major asset restructuring. This decision was previously reviewed and approved by the company's Audit Committee. Both resolutions received unanimous approval, with seven votes in favor and two related directors abstaining from the first vote due to conflicts of interest.

Additionally, the board decided to convene the company's fourth extraordinary general meeting of shareholders for 2025 on December 4, 2025. This meeting will deliberate on the resolution to appoint the audit institution for the major asset restructuring.