Huadian Power International (1071) Announces Key Amendments to Articles of Association and Supervisory Committee Abolishment

Huadian Power International Corporation Limited (Stock Code: 1071) issued an announcement on 28 October 2025 proposing several significant amendments to its Articles of Association. According to the company, these changes align with updated regulations in the People’s Republic of China, revisions to guidelines issued by the China Securities Regulatory Commission, and the latest Corporate Governance Code requirements from The Stock Exchange of Hong Kong Limited.

The announcement highlights that the total share capital will be updated to 11,611,774,184 ordinary shares, with the same figure recognized as the new registered capital. The Supervisory Committee is set to be abolished in favor of enhanced responsibilities for the Audit Committee, marking a shift in oversight toward financial management, internal controls, and compliance. The Board will retain 12 seats, with one seat designated for an employee representative who will hold full directorial rights and be democratically elected.

The Audit Committee will expand to six members, taking on the supervisory duties formerly held by the Supervisory Committee. Meanwhile, the Nomination Committee will include at least one female Director to ensure diversity requirements. The revisions also clarify the decision-making authority of the general meeting, the Board, the chairman, and senior management, notably transferring some tasks—such as approving annual financial budgets and final accounts—from the general meeting to the Board.

Further modifications address meeting protocols, including shortened notice periods for general meetings and the prohibition of written circular resolutions for specific Board items, particularly connected transactions. These amendments aim to reinforce accountability among Directors, protect minority Shareholders’ interests, and strengthen compliance practices by tightening restrictions on financial assistance and clarifying liability and recourse provisions.

The company’s proposals also include renaming and adjusting the Rules of Procedures for the General Meetings and the Board Meetings to ensure consistency with the revised Articles of Association. The full details of these amendments will be provided in the extraordinary general meeting circular, which is expected to be dispatched to Shareholders in due course.