Zheng Quan Zhi Xing·2025-09-07 08:17Core Viewpoint - The company plans to abolish the supervisory board and amend its governance structure in accordance with the new Company Law and regulatory requirements, aiming to enhance compliance and operational efficiency [2][3]. Group 1: Meeting Agenda - The meeting will discuss the proposal to cancel the supervisory board and amend the company's articles of association, with specific sub-proposals categorized as special and ordinary resolutions [1]. - The special resolutions require more than two-thirds approval from attending shareholders, while ordinary resolutions require a simple majority [1]. Group 2: Background of Amendments - The amendments are driven by the new Company Law effective from July 1, 2024, which mandates that the board's audit committee will assume the supervisory board's responsibilities by January 1, 2026 [2]. - The regulatory updates aim to improve corporate governance and protect shareholder rights [2]. Group 3: Content of Amendments - The proposal includes the removal of all references to the supervisory board and its rules, transferring its legal powers to the board's audit committee [3]. - The amendments will clarify the roles and responsibilities of the legal representative, shareholders, and the board, including the duties of controlling shareholders and actual controllers [3]. - Additional provisions will be added regarding independent directors, board composition, and the responsibilities of specialized committees to enhance governance standards [3]. Group 4: Documentation and Disclosure - Detailed information regarding the proposed amendments and the comparison of the revised governance documents were disclosed on August 16, 2025 [4].