Chenguang New Materials(SH:605399) Zheng Quan Zhi Xing·2025-08-15 11:17Meeting Overview - The board meeting of Jiangxi Chenguang New Materials Co., Ltd. was held on August 14, 2025, with all 7 directors present, ensuring compliance with legal and regulatory requirements [1][2]. Financial Reporting - The board approved the 2025 semi-annual report, affirming its fairness and accuracy, and taking legal responsibility for its content [1][2]. Governance Changes - The company plans to abolish the supervisory board, transferring its powers to the audit committee of the board, and will amend the company’s articles of association accordingly [2][3]. Stock Repurchase - The company repurchased and canceled 456,000 shares from the 2024 restricted stock incentive plan and 660,032 shares from the 2024-2026 employee stock ownership plan due to unmet conditions, reducing the total share capital from 313,357,360 yuan to 312,241,328 yuan [3][4]. Institutional Revisions - The board proposed revisions to several internal governance documents to enhance operational compliance and governance structure [4][5]. Shareholder Meeting - The board approved the convening of the second extraordinary general meeting of shareholders in 2025 [5][6]. Cash Management - The board authorized the use of idle funds for cash management, allowing investments in low-risk financial products up to a limit of 250 million yuan, valid for 12 months [6][7]. Foreign Exchange Derivatives - The board approved the company and its subsidiaries to engage in foreign exchange derivative transactions with a total transaction amount not exceeding 90 million USD, valid for 12 months [6][7]. Fund Utilization Reports - The board approved a special report on the storage and actual use of raised funds for the first half of 2025 [7][8].