NSIG(SH:688126) Zheng Quan Zhi Xing·2025-07-30 16:13Core Viewpoint - Shanghai Silicon Industry Group Co., Ltd. has decided to abolish its supervisory board and amend its articles of association, with certain internal governance systems being revised. These changes are subject to approval at the shareholders' meeting [1]. Summary by Sections Abolishment of Supervisory Board and Amendment of Articles of Association - The company will no longer have a supervisory board, with its powers being transferred to the audit committee of the board of directors. The rules governing the supervisory board will be abolished [1]. - Amendments to the articles of association will include changing references from "supervisory board" to "audit committee" and adjusting related terms accordingly [1]. Specific Amendments to Articles of Association - The first article emphasizes the protection of the rights of shareholders and creditors, aligning with the latest legal regulations [1]. - The eighth article states that the chairman of the board will also serve as the legal representative of the company, with provisions for succession in case of resignation [1]. - The ninth article clarifies that the legal representative's civil activities will bind the company, and the company will bear civil liability for damages caused by the representative in the course of their duties [2]. - The tenth article specifies that shareholders are liable for the company's debts only to the extent of their subscribed shares [3]. - The twenty-fourth article outlines conditions under which the company can repurchase its shares, including capital reduction and employee stock ownership plans [5]. Governance and Shareholder Rights - The articles provide that shareholders have the right to request meetings, participate in decision-making, and seek legal recourse against the company or its directors in case of violations [11][13]. - Shareholders holding more than 3% of shares for over 180 days can inspect the company's financial records [11]. - The company must disclose information in accordance with legal requirements and ensure compliance with regulations regarding shareholder rights and corporate governance [14][19].