TongDa Cable(SZ:002560) Xin Lang Cai Jing·2025-10-24 12:47Core Viewpoint - The company has revised its articles of association to enhance corporate governance, shareholder rights, and profit distribution policies, which will require shareholder approval to take effect [1][2][3][5]. Governance Structure Adjustments - The board of directors will expand from 7 to 9 members, including an additional employee director elected by employees, enhancing employee participation in governance [2]. - The supervisory board is abolished, with its responsibilities transferred to the audit committee, which will oversee financial information, internal controls, and external audits [2]. Shareholder Rights and Obligations - New regulations specify that controlling shareholders must not abuse their power or misuse company funds, and they are required to disclose significant events promptly [3]. - Shareholders holding over 3% of shares for more than 180 days can access accounting records, and disputes regarding shareholder resolutions must be resolved through court [3]. External Guarantee and Financing Rules - The criteria for external guarantees have been updated, requiring shareholder approval for guarantees exceeding 30% of the latest audited total assets [4]. - The company will not grant preferential subscription rights to shareholders during stock issuance unless specified otherwise [4]. Profit Distribution Policy Changes - The minimum cash dividend payout ratio has been reduced from 20% to 10% of distributable profits, while maintaining a requirement for cumulative distributions over three years to be at least 30% of the average distributable profits [5]. Other Important Revisions - The responsibilities of the legal representative have been clarified, with the chairman serving as the legal representative and a requirement to appoint a new representative within 30 days of resignation [6]. - Internal audit responsibilities have been strengthened, requiring immediate reporting of significant issues to the audit committee [7].