GREATTOWN(SH:600094) Zheng Quan Zhi Xing·2025-08-22 13:12Core Viewpoint - Shanghai Daming City Enterprise Co., Ltd. is revising its Articles of Association and will no longer establish a supervisory board, with the audit committee of the board of directors assuming the supervisory functions [1] Group 1: Revision of Articles of Association - The company aims to enhance governance and compliance with the new Company Law and relevant regulations by revising its Articles of Association and related rules [1] - The proposed changes include the abolition of the supervisory board and the delegation of its powers to the audit committee [1][2] - The revisions will be submitted for approval at the upcoming extraordinary general meeting of shareholders [1] Group 2: Specific Changes in Articles of Association - The legal representative of the company will now be the general manager, who will be appointed or dismissed by the board of directors [2] - The company will bear civil liability for actions taken by the legal representative in the course of their duties [3] - The issuance of shares will adhere to principles of openness, fairness, and justice, ensuring equal rights for all shareholders of the same class [4][5] Group 3: Financial Assistance and Capital Increase - The company or its subsidiaries are prohibited from providing financial assistance for the acquisition of its shares, except for employee stock ownership plans [6] - The company can increase capital as needed, following legal and regulatory requirements, with shareholder approval [7] Group 4: Shareholder Rights and Responsibilities - Shareholders have the right to request the court to declare invalid any resolutions made by the board or shareholders' meeting that violate laws or regulations [13] - Shareholders holding more than 5% of the company's shares must report their holdings and any changes to the company [11] - The company must ensure that the interests of minority shareholders are protected against actions by controlling shareholders [19][20]