Beijing Jingneng Clean Energy Co., Limited (00579) has proposed the appointment of Mr. Guo Yao as a non-executive director, pending shareholder approval at a general meeting. Mr. Guo, aged 30, previously held roles in the equity management and capital operation departments of Beijing State-owned Capital Operation Management Co., Ltd. Upon appointment, he will serve as a member of the audit committee for the remainder of the fifth session of the board.
Meanwhile, Mr. Song Zhiyong intends to step down as a non-executive director and audit committee member once Mr. Guo’s appointment takes effect. Mr. Song confirmed that he has no disagreement with the board and no claims against the company.
Regarding the H Share Appreciation Rights Scheme, the company confirmed that performance conditions for the 2024 fiscal year have been satisfied for the first tranche of exercise (33% of total rights granted). These rights become exercisable once 24 months have passed from each respective grant date, subject to additional conditions such as annual performance appraisals for incentive recipients.
As of the date of the announcement, nine incentive recipients are no longer eligible, reducing the total number from 130 to 121 and adjusting total effective share appreciation rights from 123,591,031 to 112,732,513. Based on performance appraisals, 37,064,986 rights are available for the first tranche. Exercise prices have been lowered in line with dividend distributions approved for both 2023 and 2024, resulting in adjusted prices ranging from RMB1.1072 to RMB1.6370.
The company stated that these changes do not materially impact its financial position or operational results. A circular providing further details about the proposed director appointment will be distributed in due course.
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