Core Viewpoint - Sany Heavy Industry (06031.HK) announced the decision to abolish its supervisory board to enhance corporate governance and streamline operations, transferring the supervisory board's responsibilities to the audit committee of the board of directors [1] Group 1 - The company aims to improve its governance structure in accordance with relevant laws and regulations, including the Company Law of the People's Republic of China and the Shanghai Stock Exchange Listing Rules [1] - The supervisory board's powers will now be exercised by the audit committee, indicating a shift in governance practices [1] - Related regulations and rules governing the supervisory board will be abolished, reflecting a significant change in the company's operational framework [1]