XUSHENG(SH:603305) Zheng Quan Zhi Xing·2025-08-27 10:06Core Points - Ningbo Xusheng Group Co., Ltd. has decided to cancel its supervisory board, with the responsibilities being transferred to the audit committee of the board of directors [1][2] - The company will increase its registered capital from RMB 933,214,933 to RMB 953,316,329 due to the conversion of convertible bonds [2][3] - The company has revised its articles of association and related systems to enhance corporate governance and comply with updated legal regulations [3][4] Summary of Key Sections Cancellation of Supervisory Board - The supervisory board will be abolished, and its functions will be assumed by the audit committee of the board of directors [1][2] - The current non-employee supervisors will cease to hold their positions following the approval of the shareholders' meeting [2] Change in Registered Capital - The company issued convertible bonds totaling RMB 280 million, which will be converted into shares, increasing the total number of shares from 933,214,933 to 953,316,329 [2][3] - The conversion period for the bonds is from December 20, 2024, to June 13, 2030, with a total of 20,101,396 shares expected to be converted [2] Revision of Articles of Association - The articles of association have been revised to align with the latest legal requirements and improve corporate governance [3][4] - Specific changes include the definition of the company's registered capital and the roles of the legal representative and board members [5][6] - Some revised systems will require approval from the shareholders' meeting to take effect, while others will become effective immediately upon board approval [3][4]