Kinwong(SH:603228) Zheng Quan Zhi Xing·2025-07-28 16:39Core Viewpoint - The Shenzhen Jingwang Electronics Co., Ltd. is revising its articles of association to comply with the new Company Law of the People's Republic of China, effective from July 1, 2024, aiming to enhance corporate governance and operational standards. Summary by Sections Article Revisions - The first article emphasizes the protection of the rights of the company, shareholders, employees, and creditors, aligning with the new legal framework [1][2]. - The registered capital of the company remains unchanged in the revised articles [3]. - The role of the chairman as the legal representative is clarified, with provisions for appointing a new representative within thirty days of resignation [1][2]. Shareholder Rights and Responsibilities - Shareholders are granted equal rights and obligations concerning their shares, and the articles establish a legal framework for shareholder actions against the company and its management [3][4]. - The articles specify that shareholders must adhere to laws and the company's articles, including obligations related to capital contributions and the prohibition of withdrawing capital except as legally permitted [16][17]. Capital Management - The company can increase its capital through various methods, including public offerings and private placements, subject to shareholder approval [6][7]. - The articles restrict the company from acquiring its own shares, with specific exceptions outlined, such as capital reduction and employee stock ownership plans [6][7]. Governance and Decision-Making - The articles detail the powers of the shareholders' meeting, including approving financial reports, profit distribution, and major corporate actions like mergers and capital changes [19][20]. - Provisions are included for independent directors to propose the convening of temporary shareholder meetings, ensuring accountability in governance [22][23]. Compliance and Legal Obligations - The revised articles impose strict obligations on controlling shareholders and actual controllers to act in the company's best interests and comply with disclosure requirements [16][18]. - There are clear stipulations regarding the responsibilities of directors and senior management in case of legal violations that result in company losses, allowing shareholders to seek legal recourse [15][24].