Zheng Quan Shi Bao·2025-11-09 20:18Group 1 - The core point of the article is that CITIC Securities has announced the cancellation of its supervisory board, transferring its functions to the audit committee of the board of directors, in line with the new Company Law requirements [1] - Approximately 74% of listed securities firms have adjusted their internal supervisory structures this year, with around 32 firms officially announcing the cancellation of their supervisory boards [1][2] - The China Securities Regulatory Commission has mandated that listed companies must establish an audit committee to perform the functions of the supervisory board by January 1, 2026 [1][2] Group 2 - The adjustment of internal supervisory structures is also affecting securities firms involved in refinancing and mergers, with exchanges requiring compliance by the same deadline [2] - For example, Xiangcai Securities' parent company, Xiangcai Co., has made governance adjustments as part of its merger and fundraising plans, highlighting the importance of governance structure in project advancement [2] - Non-listed securities firms are also accelerating their adjustments, with 15 firms, including Wukuang Securities and Huaxin Securities, having completed the cancellation of their supervisory boards [3]