Yueyang Xingchang board approves major transactions, hedging, governance updates

Yueyang Xingchang Petrochemical announced resolutions from its sixteenth board of directors' twenty-fifth meeting, held on December 12, 2025. The board approved 2026 daily related-party transactions, forecasting a total of 495,052 million yuan with its largest shareholder and related parties, 7,789 million yuan with Xingchang Group and its subsidiaries, and 50,443 million yuan with Dongyue Chemical. Certain transactions with the largest shareholder and Dongyue Chemical will require shareholder approval.

The board also approved engaging in commodity futures hedging for platinum and palladium, with a maximum margin of 1,000 million yuan and a maximum contract value of 10,000 million yuan, to mitigate price volatility. Additionally, the board sanctioned a 218 million yuan investment by its subsidiary, Hunan Litai Investment, to build MOFs material production facilities in Yueyang County High-tech Industrial Park.

Significant governance changes were approved, including revisions to the "Articles of Association" and seven other internal governance documents. These changes will eliminate the supervisory board, transferring its functions to the audit committee. These proposed changes are subject to shareholder approval at the upcoming seventy-second extraordinary general meeting on December 29, 2025.