Yongtai Energy Expands New Energy Business to Include Battery Manufacturing and Energy Storage Technology Services in Its Operating Scope

MaticHoleFiller · 2026-03-16T13:40:33+00:00

Yongtai Energy Group announced that it will add new energy-related businesses such as battery manufacturing and energy storage services to its business scope, and will revise the company's articles of association to strengthen governance structure. This adjustment aims to optimize the industrial structure and enhance core competitiveness, and requires approval by the 2026 shareholders' meeting.

MaticHoleFiller

2026-03-16 13:40:33

Abstract generation in progress

On March 16, Yongtai Energy Group Co., Ltd. (Stock Code: 600157, hereinafter referred to as “the Company”) announced that the 27th meeting of the 12th Board of Directors approved the proposal to amend the company’s business scope and Articles of Incorporation. The company will add new energy-related businesses such as battery manufacturing and energy storage technology services based on its existing operations, and will make corresponding revisions to the Articles of Incorporation.

Significant Expansion of Business Scope to Layout the New Energy Industry Chain

The announcement shows that the company has comprehensively adjusted its business scope. While retaining its core existing businesses, it has added several strategic emerging businesses. The revised scope is divided into permitted projects and general projects.

Permitted projects include: coal mining; non-coal mineral resource extraction; power generation, transmission, and distribution; port operations; inland waterway cargo transportation.

The general projects now include new energy-related businesses such as battery manufacturing, battery sales, battery component production and sales, energy storage technology services, and new energy technology R&D. It also adds the manufacturing and sales of petroleum products (excluding hazardous chemicals), chemical product sales (excluding licensed chemical products), and non-ferrous metal alloy sales.

Multiple Revisions to the Articles of Incorporation to Improve Corporate Governance Structure

The company has revised the Articles of Incorporation in various aspects, mainly involving:

Clarifying that the Chairman is the “director responsible for executing company affairs,” strengthening the Chairman’s responsibilities
In the definition of senior management, explicitly stating that the Chief Financial Officer (CFO) is the financial head
Supplementing and improving descriptions of share structure in the company’s historical development
Detailing the powers of the Audit Committee of the Board of Directors, adding seven specific responsibilities
Clarifying that Audit Committee members are elected by the Board, and that the convener must be a professional accountant
Adding the term “(Financial Responsible Person)” in multiple clauses to clarify the duties of the Chief Financial Officer

Below is a comparison of the main revisions:

Before the Revision	After the Revision
Article 8: The Chairman is the legal representative of the company.	Article 8: The Chairman is the director responsible for executing company affairs and the legal representative of the company.
Article 11: The senior management personnel referred to in these Articles include the general manager, deputy general managers, secretary of the Board, chief economist, chief financial officer, chief engineer.	Article 11: The senior management personnel referred to in these Articles include the general manager, deputy general managers, secretary of the Board, chief economist, chief financial officer (Financial Responsible Person), chief engineer.
Article 138: The company’s Board of Directors shall establish an Audit Committee, which shall exercise the powers of the supervisory committee as stipulated in the Company Law.	Article 137: The company’s Board of Directors shall establish an Audit Committee, which shall exercise the powers of the supervisory committee as stipulated in the Company Law: (1) Inspect the company’s finances; (2) Supervise the conduct of directors and senior management, and propose removal if they violate laws, regulations, the Articles of Incorporation, or shareholders’ resolutions; (3) When the conduct of directors or senior management damages the company’s interests, require correction; (4) Propose convening an extraordinary shareholders’ meeting, and convene and preside over shareholders’ meetings if the Board fails to perform these duties; (5) Submit proposals to shareholders’ meetings; (6) File lawsuits against directors or senior management as per Article 189 of the Company Law; (7) Other powers stipulated in the Articles of Incorporation.

Accelerating Strategic Transformation to Build a Comprehensive Energy Service Provider

Yongtai Energy stated that the amendments to the company’s business scope and Articles of Incorporation are made in accordance with the requirements of the Company Law, the Guidelines for Articles of Incorporation of Listed Companies (2025 Revision), and other laws and regulations, combined with the company’s actual business development. By expanding into new energy sectors, the company aims to optimize its industrial structure and enhance its sustainable operation capabilities and core competitiveness.

This revision is subject to approval at the company’s first extraordinary general meeting in 2026. The final business scope is subject to the registration approval by the market supervision and administration department.

Click here to view the original announcement >>

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