ANG(SH:603689) Zheng Quan Zhi Xing·2025-06-26 16:21Core Viewpoint - The company has decided to abolish the supervisory board and amend its articles of association in accordance with the new regulations effective from July 1, 2024, ensuring that the audit committee of the board will assume the supervisory responsibilities without affecting the internal supervision mechanism [1]. Summary by Sections Abolishment of Supervisory Board - The company will no longer establish a supervisory board and supervisors, with the audit committee of the board taking over the supervisory functions as mandated by the new Company Law and related regulations [1]. Amendments to Articles of Association - The articles of association will be revised to reflect changes in corporate governance structure, including the following key amendments: - The first article now includes the protection of employees' rights alongside those of the company, shareholders, and creditors [2]. - The registered capital of the company has been updated from RMB 478,219,266 to RMB 490,191,687 [6]. - The company is now allowed to provide financial assistance for acquiring its shares under specific conditions, with a cap of 10% of the total issued capital [6]. - The provisions regarding the acquisition of the company's shares have been updated to allow for more flexible methods of capital increase and share repurchase [7][8]. - The rights and obligations of shareholders have been clarified, ensuring they can exercise their rights in accordance with their shareholding [12][13]. - The rules regarding the calling of shareholder meetings and the procedures for decision-making have been refined to enhance governance [23][24].