TAM(SH:603789) Xin Lang Cai Jing·2025-10-30 10:45Core Viewpoint - The company has revised its articles of association to enhance corporate governance, protect shareholder rights, standardize decision-making processes, and improve operational compliance [1][7]. Group 1: Legal Representative Responsibilities - The revised articles clarify the responsibilities of the legal representative, requiring a new representative to be appointed within 30 days of resignation, and the company will bear legal consequences for actions taken by the representative [2]. - The company can seek compensation from the legal representative for damages caused by their actions while in office [2]. Group 2: Shareholder Rights - The articles expand the scope of shareholder access to information, allowing shareholders to review accounting books and vouchers in addition to traditional documents [3]. - A new litigation mechanism is introduced for disputes regarding shareholder resolutions, ensuring stability in company operations [3]. - Restrictions are placed on controlling shareholders to prevent them from harming the interests of the company and other shareholders through unfair transactions [3]. Group 3: Governance Structure - The governance structure is optimized by enhancing the role of the audit committee, which now assumes some responsibilities previously held by the supervisory board [4]. - The number of deputy general managers is reduced from seven to two, streamlining management and clarifying responsibilities [4]. Group 4: Risk Control - Stricter approval processes for external financial assistance and guarantees are established, limiting financial assistance to 10% of the total issued share capital and requiring board approval for all related guarantees [5]. Group 5: Profit Distribution Mechanism - The profit distribution policy is refined, mandating the board to gather opinions from minority shareholders and provide explanations for retained earnings if no cash dividends are issued [6]. Group 6: Significance of the Revision - The revision is a significant step in responding to regulatory requirements and improving corporate governance, which is expected to enhance governance norms and transparency, thereby fostering long-term development [7][8].