Hubei Heyuan Gas Co., Ltd. (hereinafter referred to as "the Company") held the 16th meeting of the 5th Board of Directors on April 14, 2026 (hereinafter referred to as "this Board Meeting") and approved the proposal on changing the company's registered capital and amending the Articles of Association and certain governance systems. This proposal will be submitted to the company's 2025 annual shareholders' meeting for review. The specific circumstances are announced as follows:
I. Explanation of Changes to Company Registered Capital
Due to the approval of the proposal regarding the first lock-up period of the 2024 restricted stock incentive plan not being fulfilled, the Company plans to repurchase and cancel 1,125,000 shares of restricted stock held by 198 incentive recipients, which is 30% of the total 3,750,000 shares. Additionally, due to the resignation of one incentive recipient, the Company will repurchase and cancel all 5,000 shares of restricted stock that have not yet been released from the lock-up. In total, 1,130,000 shares will be repurchased, reducing the total share capital from 211,755,000 shares to 210,625,000 shares, and the registered capital will change from RMB 211,755,000 to RMB 210,625,000.
II. Amendments to the Articles of Association and Certain Governance Systems
In accordance with the Company Law of the People's Republic of China, the Securities Law of the People's Republic of China, and the Guidelines for Articles of Association of Listed Companies, and considering the circumstances related to the repurchase and cancellation of restricted stock, the Company intends to amend certain provisions of the Articles of Association and the Rules of Procedure for Shareholders' Meetings.
- Specific amendments to the Articles of Association are as follows: