First(SH:603806) Xin Lang Cai Jing·2025-08-26 12:52Core Viewpoint - Hangzhou First Applied Material Co., Ltd. has revised its articles of association, detailing various aspects of its organizational structure, management, and share-related matters, which aims to enhance governance and operational rules for stable development [1][9]. Company Overview - Hangzhou First Applied Material Co., Ltd. was established through the overall change of Hangzhou First Hot Melt Adhesive Film Co., Ltd. and was listed on the Shanghai Stock Exchange on September 5, 2014. The registered capital is RMB 2,608.735822 million, and it is a perpetual public company [2]. Share Regulations - The company issues shares based on principles of openness, fairness, and justice, with a par value of RMB 1 per share. The total number of shares issued at establishment was 90 million, and the current total issued shares amount to 2,608.735822 million, all of which are ordinary shares. There are strict regulations regarding share increases, decreases, and repurchases [3]. Shareholders and Shareholder Meetings - The company maintains a shareholder register based on certificates provided by the securities registration and settlement agency. The shareholder meeting is the power institution, held annually within six months after the end of the previous fiscal year, with provisions for extraordinary meetings under specific circumstances. The meeting has broad powers, including electing directors and approving significant company proposals [4]. Board of Directors - The board consists of 9 directors, including 3 independent directors and 1 employee representative. The board is responsible for convening shareholder meetings, executing resolutions, and determining operational plans. The chairman leads the meetings and ensures the execution of board resolutions [5]. Senior Management - The company has 1 general manager and 5 to 10 deputy general managers, along with other senior management roles. The general manager is responsible for the company's operational management and implementation of annual plans [6]. Financial Accounting, Profit Distribution, and Auditing - The company has established a financial accounting system and is required to submit annual and interim reports. Profit distribution is based on shareholder equity after legal reserves are deducted, and the board proposes distribution policies subject to shareholder approval. An internal audit system is in place, with the auditing firm selected through a rigorous process [7]. Mergers, Divisions, Capital Increases, Reductions, Dissolution, and Liquidation - Mergers can be conducted through absorption or new establishment, with specific conditions under which shareholder approval is not required. Divisions, capital increases, and reductions must follow prescribed procedures, and a liquidation group is formed in case of dissolution [9].