KSHG(SH:605333) Zheng Quan Zhi Xing·2025-07-03 16:15Core Viewpoint - The company has decided to abolish the supervisory board and amend its articles of association and related management rules in accordance with the new regulations effective from July 1, 2024, ensuring that the internal supervision mechanism remains operational through the audit committee of the board of directors [1][2]. Summary by Sections Abolishment of Supervisory Board - The company will no longer have a supervisory board or supervisors, with the audit committee taking over the supervisory functions as mandated by the Company Law [1]. - The decision was made during the 13th meeting of the third board of directors and the supervisory board on July 3, 2025 [1]. Amendments to Articles of Association - The articles of association have been revised to replace terms related to the supervisory board with those pertaining to the audit committee, including the removal of references to "supervisor" and "supervisory board" [2]. - Specific changes include the unification of terms from "shareholders' meeting" to "shareholders' assembly" and adjustments in clause numbering due to the deletion and addition of terms [2][3]. Legal Compliance - The amendments comply with the updated Company Law, regulations from the China Securities Regulatory Commission, and the Shanghai Stock Exchange listing rules [1][2]. - The company aims to maintain the legal rights and obligations of shareholders and ensure the protection of interests for all stakeholders [2]. New Provisions - New provisions have been added to clarify the responsibilities of the legal representative and the company's obligations in civil activities [4][5]. - The articles now include stipulations regarding the establishment of a Communist Party organization within the company, reflecting the integration of party activities into corporate governance [5]. Shareholder Rights and Responsibilities - The revised articles outline the rights of shareholders, including the right to dividends, participation in meetings, and the ability to request information [11][12]. - Shareholders are also required to comply with legal obligations and cannot abuse their rights to harm the company or other shareholders [17][18].