HUAYOU COBALT(SH:603799) Shang Hai Zheng Quan Bao·2025-08-17 18:15Core Viewpoint - The company, Zhejiang Huayou Cobalt Co., Ltd., has released its 2025 semi-annual report, detailing its financial performance, operational status, and future plans, emphasizing the importance of transparency and compliance with regulatory requirements [1][2]. Company Overview - The company is engaged in the production and sale of cobalt and related materials, with a focus on the lithium battery industry [1]. - The board of directors and supervisory board members have confirmed the authenticity and completeness of the report [1]. Financial Data - The report includes key financial data, although specific figures are not provided in the excerpts [1]. - The company has undergone a non-public stock issuance and a public convertible bond issuance, raising significant funds for operational and investment purposes [43][44]. Board Meeting Proceedings - The 31st meeting of the 6th Board of Directors was held on August 16, 2025, where several key resolutions were passed, including the approval of the semi-annual report and the special report on the use of raised funds [3][4][7]. - All board members attended the meeting, ensuring compliance with legal and procedural requirements [3]. Special Reports - The company approved a special report on the storage and actual use of raised funds for the first half of 2025, detailing the amounts raised and their allocation [7][43]. - The report indicates that the funds from the 2021 non-public stock issuance and the 2022 public convertible bond issuance have been effectively utilized, with specific amounts detailed [43][44]. Related Transactions - The company has approved new related transactions for 2025, which are deemed necessary for normal business operations and will not affect the company's independence [57][58]. - The board and supervisory board have reviewed and approved these transactions, ensuring they adhere to fair pricing principles [59][62]. Governance Changes - A proposal to abolish the supervisory board and amend the company's articles of association was passed, with the audit committee taking over supervisory responsibilities [9][38]. - Various governance documents, including rules for shareholder meetings and board meetings, have been revised to enhance operational efficiency [15][17][19][21][23]. Upcoming Events - The company plans to hold its third extraordinary general meeting of shareholders on September 8, 2025, to discuss various resolutions, including those related to governance changes [31].