BYD adjusts employee stock plans, corporate governance following shareholder approvals

BYD Company Limited has announced resolutions from its second meetings of holders for both the 2024 and 2025 employee stock ownership plans, held on December 5, 2025. For the 2025 plan, 20,474 holders representing 3.27bn shares (82.04% of total) approved the adjustment of the management committee. Similarly, the 2024 plan saw 92 holders representing 170.92m shares (86.67% of total) approve a similar adjustment. Both plans involved the resignation of Ms. Wang Zhen from the management committee and the appointment of Mr. Ye Zi as a new committee member.

Concurrently, BYD held its second extraordinary general meeting on December 5, 2025, where shareholders approved several revisions to the company's governance. A total of 8,048 shareholders and their proxies, holding 4.95bn voting shares (54.3393% of total), participated. Key approvals included revisions to the "Articles of Association," the "Rules of Procedure for Shareholder Meetings," the "Rules of Procedure for Board Meetings," and several management systems.

These revisions, effective upon shareholder approval, align with BYD's continuous efforts to optimize its corporate governance and ensure the smooth operation of its employee stock ownership plans. The decisions were verified by Beijing Zhonglun (Shenzhen) Law Firm, confirming compliance with relevant laws and regulations.