On 21 June, Yankuang Energy held its 2023 Annual General Meeting of Shareholders. Combining on-site and online voting, the meeting is to review and approve 13 proposals, including the 2023 Work Report of the Board, Financial Report, and Profits Distribution Plan.
The meeting was chaired by Li Wei, Chairman of Yankuang Energy. He stated that the approval of these proposals showcases the trust and support of the shareholders for the Company, and their fervent expectations for the Company's transformation and continued success. Yankuang Energy will adhere to the philosophy of "shareholder primacy and value sharing," while joining hands with all shareholders to enhance its development quality, economic efficiency, and potential strength, so as to continuously create more value and returns for shareholders and stakeholders.
Li Wei said that since the beginning of 2024, amid the landing of the economic policies, the supply and demand of coal and chemical markets have experienced continuous improvement, showing a stable trend for development. Facing the price fluctuations in products, stricter safety supervision and other obstacles, Yankuang Energy rose up to the challenges with high morale and made great efforts in releasing the production capacity, implementing lean management and control, reducing costs and increasing efficiency. Consequently, Yankuang Energy has secured good results where its core business improved in terms of both quantity and quality and realized costs reduction and profits enhancement. Breakthroughs were also made in strategic business restructuring and production and operation have also met the expectations. In the second of half of 2024, Yankuang Energy will stay committed to its annual goals, and take active and concrete efforts in securing production safety, enhancing management, improving efficiency, creating new profit-making opportunities while cutting costs, and developing emerging industries with unique characteristics. In addition, efforts will also be made in extending the industrial chains, improving the value chains and staying committed to the rules compliance and law-based operation and development.
Shareholders of both A-shares and H-shares, along with Directors, supervisors, senior management, and relevant department heads, attended the meeting. Some representatives from intermediary institutions also participated online or offline.
The annual meeting was widely-received from the capital market, with many well-known institutional investors attracted.
