Huafa Properties(SH:600325) Zheng Quan Zhi Xing·2025-07-28 16:50Core Points - Zhuhai Huafa Industrial Co., Ltd. has decided to cancel its supervisory board and amend its articles of association to enhance corporate governance and compliance with the latest Company Law and regulatory guidelines [1][2][3] - The supervisory functions will be transferred to the audit committee, which will assume the responsibilities previously held by the supervisory board [1][2] - The amendments include changes to the articles of association, shareholder meeting rules, and the abolition of the supervisory meeting rules [1][2] Summary of Amendments - The articles of association now include provisions to protect the rights of the company, shareholders, employees, and creditors [2] - The legal representative of the company will be the chairman of the board, and the company must appoint a new legal representative within 30 days if the chairman resigns [2] - The company will bear civil liability for actions taken by the legal representative in the course of their duties [2][3] - The company’s assets are divided into equal shares, and shareholders are liable only to the extent of their shareholdings [3] - The company will establish a party organization to play a leading role and ensure compliance with the Party's regulations [4][5] - The articles of association will now have legal binding force on the company, shareholders, directors, and senior management [5][6] - The issuance of shares will adhere to principles of fairness and equality, ensuring that all shares of the same category have equal rights [6][7] - The company’s stock will be registered and managed by the Shanghai branch of the China Securities Depository and Clearing Corporation [6][7] - The company will not provide financial assistance for acquiring its shares, except for employee stock ownership plans [6][7] - The company can increase its capital through various methods, including public offerings and private placements, as approved by the shareholders [7][8]