Shanghai Zhongchen Electronic Technology (SH:603275) Zheng Quan Zhi Xing·2025-08-25 16:53Core Viewpoint - Shanghai Zhongchen Electronic Technology Co., Ltd. is canceling its supervisory board and revising its articles of association to enhance corporate governance and comply with new legal requirements [1][2]. Group 1: Cancellation of Supervisory Board - The company has decided to abolish the supervisory board to align with the latest legal regulations effective from July 1, 2024, including the Company Law of the People's Republic of China and relevant guidelines [1][2]. - The responsibilities of the supervisory board will be transferred to the audit committee of the board of directors [1]. Group 2: Revision of Articles of Association - The company is revising its articles of association to reflect changes in governance structure, including the addition of employee representative directors [2][3]. - Key revisions include: - The legal representative of the company will be the chairman, and if the chairman resigns, a new representative must be appointed within 30 days [2]. - The articles will now specify that the company bears civil liability for actions taken by the legal representative in the course of their duties [3][4]. - The revised articles will have legal binding force on the company, shareholders, directors, and senior management [4][5]. Group 3: Shareholder Rights and Responsibilities - Shareholders are entitled to various rights, including profit distribution and the ability to request meetings and participate in decision-making [16][17]. - The company emphasizes that shareholders must comply with legal obligations and cannot abuse their rights to harm the company or other shareholders [21][22].