Friend (SH:605050) Zheng Quan Zhi Xing·2025-08-25 16:13Group 1 - The company has decided to abolish the supervisory board, transferring its powers to the audit committee of the board of directors, in accordance with relevant laws and regulations [1][2][3] - The company will revise its articles of association to reflect this change, which will require approval at the upcoming extraordinary general meeting [2][3] - The supervisory board will continue to fulfill its responsibilities until the shareholders' meeting approves the cancellation [1] Group 2 - The revised articles of association will change references from "shareholders' meeting" to "shareholders' assembly" throughout the document [2] - The legal representative of the company will now be the director executing company affairs, with the chairman being elected by the board [2][3] - New provisions will clarify that the company will bear civil liability for actions taken by the legal representative in the course of their duties [3] Group 3 - The company will ensure that all assets are divided into equal shares, with shareholders only liable for the amount of their subscribed shares [3][4] - The articles will specify that the company will not provide financial assistance for the acquisition of its shares, except under certain conditions approved by the shareholders' meeting [5][6] - The company will adopt various methods for capital increase as per legal requirements, including using surplus reserves to increase share capital [6][7] Group 4 - The company will implement stricter rules regarding the transfer of shares, ensuring compliance with legal and regulatory requirements [8][9] - The articles will stipulate that shareholders must adhere to the provisions regarding the transfer of shares, including restrictions on the transfer of shares held by directors and senior management for a specified period [9][10] - The company will establish clear guidelines for related party transactions, requiring shareholder approval for significant transactions [28][29]