NKY(SZ:300109) Shang Hai Zheng Quan Bao·2026-01-22 18:37Core Viewpoint - The cancellation of the supervisory board and the establishment of an audit committee at Xin Kai Yuan has faced significant challenges, but recent efforts by independent directors and the China Securities Investor Services Center aim to gather support for the proposal [1][3][5]. Group 1: Background and Context - Xin Kai Yuan's proposal to cancel the supervisory board and amend the company’s articles of association has been rejected twice during shareholder meetings [2][3]. - The company announced on December 22, 2025, that the proposal to amend the articles of association was not approved, with only 37.54% of the votes in favor [2]. - A second attempt on January 9, 2026, also failed, receiving 62.36% approval but not meeting the two-thirds majority required for special resolutions [3]. Group 2: Recent Developments - On January 16, 2026, independent director Fang Yongjun initiated a public solicitation for voting rights to support the proposal [1][3]. - The China Securities Investor Services Center began collecting votes from shareholders on January 22, 2026, with a deadline of January 24, 2026, aiming to gather support for the cancellation of the supervisory board [1][3]. Group 3: Implications of the Changes - Experts suggest that replacing the supervisory board with an audit committee can enhance internal governance by improving oversight of financial conditions and internal controls [1][5]. - The audit committee is expected to provide a more effective supervisory role, addressing past weaknesses in the supervisory board's oversight capabilities [5][6]. - The establishment of a robust internal audit system is crucial for the successful implementation of these governance changes, ensuring compliance with international standards [6].