Hwa Create(300045) Zheng Quan Zhi Xing·2025-06-05 12:14Core Viewpoint - Beijing Huali Chuangtong Technology Co., Ltd. has revised its articles of association and governance systems to enhance corporate governance and comply with the latest legal regulations, including the abolition of the supervisory board, transferring its powers to the audit committee of the board of directors [1][2][3]. Summary by Sections Revision of Articles of Association - The company will no longer have a supervisory board, with its powers transferred to the audit committee of the board of directors [1]. - The articles of association have been updated to align with the latest laws and regulations, improving the company's operational mechanisms and governance standards [1]. Company Structure and Governance - The company is now established as a permanent limited liability company, with a business duration of 20 years previously set from January 29, 2008, to January 28, 2028 [2]. - The chairman of the board serves as the legal representative of the company, and if the legal representative resigns, a new representative will be appointed within 30 days [3]. Shareholder Rights and Responsibilities - Shareholders have the right to receive dividends and participate in decision-making processes, including the ability to supervise company operations and request information [12]. - The company must ensure that shareholders can exercise their rights without abuse, and any violations may lead to compensation responsibilities [17]. Financial Assistance and Capital Increase - The company can provide financial assistance for acquiring its shares, but the total amount must not exceed 10% of the total issued capital [8]. - The company can increase its capital through various methods, including public offerings and private placements, subject to shareholder approval [22]. Share Buyback Regulations - The company may repurchase its shares under specific conditions, such as reducing registered capital or for employee stock ownership plans, with certain limits on the total amount [24][25].