SXN(SH:600661) Shang Hai Zheng Quan Bao·2025-09-29 21:08Core Viewpoint - The company has decided to cancel its supervisory board and amend its articles of association and related governance rules, which will be submitted for approval at the upcoming extraordinary general meeting of shareholders [3][51]. Group 1: Board Meeting Details - The 21st meeting of the 11th Board of Directors was held on September 29, 2025, via telecommunication, with all 11 directors present, confirming the meeting's legality and effectiveness [2]. - The meeting approved the proposal to cancel the supervisory board and amend the articles of association and related governance rules, which will be published on the Shanghai Stock Exchange website [3][51]. Group 2: Governance System Amendments - The board approved several amendments to governance systems, including the independent director working rules, audit committee working rules, and the abolition of the annual report working regulations for the audit committee, all pending shareholder approval [6][9][11]. - The board also approved amendments to the nomination committee, remuneration and assessment committee, strategic committee, and various management methods, all requiring further shareholder review [13][16][19][22][24][26][28][30][32][34][36][38][40][42]. Group 3: Board Election - The board proposed to conduct an election for the 12th Board of Directors, consisting of 11 members, including 4 independent directors and 1 employee director, with candidates nominated and approved by the board [44][45]. - The election will be conducted at the upcoming extraordinary general meeting, with specific voting requirements for non-independent directors due to the number of candidates exceeding available positions [46][47]. Group 4: Upcoming Shareholder Meeting - The board approved the proposal to convene the 2025 second extraordinary general meeting of shareholders, with details to be published in relevant financial newspapers and on the Shanghai Stock Exchange website [48][49].