Mesnac to revise governance, projects 310.3m yuan in related-party transactions for 2026

Mesnac's board has approved comprehensive revisions to its internal governance documents, including amendments to its insider information management, external financial assistance, accountant selection, foreign exchange hedging, information disclosure deferral and exemption, internal audit, and investor relations management systems. These changes, effective from their approval at the shareholders' meeting, aim to enhance corporate transparency, risk management, and shareholder protection.

The company also forecasts significant related-party transactions for 2026, with an estimated 310,300,000 yuan for transactions with Sailun Group, 19,300,000 yuan with Qingdao Guoxiang Yiwen Rubber Technology, 8,000,000 yuan with Qingdao Guoxiang Hangtai Technology, and 1,000,000 yuan with Qingdao Guoxiang Lingbu Technology. These transactions, primarily for sales of products, goods, and services, reflect Mesnac's ongoing operational needs and its relationships with its actual controller, Mr. Yuan Zhongxue, who also serves as a director at Sailun Tire and other related entities. Independent directors reviewed and approved these forecasts, noting their fairness and alignment with company development needs.

An Extraordinary General Meeting will be held on December 29, 2025, to seek shareholder approval for these revised governance documents and the proposed related-party transaction forecasts. This meeting will allow shareholders to deliberate on the updated frameworks and transaction volumes, which are crucial for Mesnac’s 2026 operational strategy.