Zheng Quan Zhi Xing·2025-08-12 09:10Core Viewpoint - The company is revising its articles of association and governance rules to comply with new regulations and improve corporate governance practices Group 1: Capital Changes - The company issued 23.6 million A-share convertible bonds with a total value of 2.36 billion RMB, which can be converted into shares starting from September 5, 2022 [1] - As of July 31, 2025, a total of 13,258 bonds have been converted, increasing the total number of shares to 1,393,453,258 and raising the registered capital [2][5] Group 2: Governance Structure Changes - The company will abolish its supervisory board, transferring its responsibilities to the audit and risk management committee, in accordance with the new Company Law effective from July 1, 2024 [2][3] - The articles of association will be amended to reflect the removal of references to the supervisory board and to standardize terminology regarding shareholder meetings [2][3] Group 3: Articles of Association Amendments - Key amendments include changing references from "shareholder meeting" to "shareholders' meeting" and deleting sections related to the supervisory board [2][3] - The legal representative of the company will be the chairman or general manager, with provisions for appointing a new representative within ten days of resignation [3][4]