Core Viewpoint - Zhejiang Yasha Decoration Co., Ltd. has made significant amendments to its corporate governance structure, including the abolition of the supervisory board and the transfer of its powers to the audit committee of the board of directors, in compliance with the latest regulations [1][6][8]. Group 1: Board Meeting Resolutions - The board meeting on August 12, 2025, approved the modification of the company's articles of association, eliminating the supervisory board and transferring its powers to the audit committee [1][6]. - The meeting also approved changes to the rules governing shareholder meetings to enhance shareholder rights and optimize the operational mechanism of the shareholder meeting [3]. - Modifications to the board meeting rules were also approved to further optimize the board's operational mechanism [5]. Group 2: Governance Structure Changes - The company will no longer have a supervisory board, and the powers previously held by the supervisory board will now be exercised by the audit committee [1][6]. - The company has made comprehensive amendments to its articles of association to align with the new governance structure [1][6]. Group 3: Election of New Directors - The board approved the nomination of Ding Zecheng and Zhang Xiaoming as candidates for the seventh board of directors, with their terms set for three years upon approval at the upcoming shareholder meeting [20][23]. - The board also nominated independent director candidates Wang Hong and Hao Zhenjiang, both of whom meet the qualifications required for independent directors [22][23]. Group 4: Upcoming Shareholder Meeting - The company will hold its first extraordinary general meeting of 2025 on August 29, 2025, to review the resolutions passed by the board [46][48]. - The meeting will include voting on the election of new directors and other significant proposals that may affect minority shareholders [53][54]. Group 5: Merger Announcement - The company announced the absorption merger of its wholly-owned subsidiary, Chongqing Yasha Decoration Engineering Co., Ltd., with its wholly-owned subsidiary, Chongqing Xuange Construction Engineering Co., Ltd., which has not conducted any actual business since its establishment [33][34][43]. - This merger is expected to enhance the company's market presence in Chongqing and improve its competitive edge in the local market [43].

Core Viewpoint - Zhejiang Shuzi Culture (浙数文化) has shown a positive stock performance with a 5.92% increase, closing at 13.41 yuan as of June 27, 2025, and has a total market capitalization of 17.005 billion yuan [1]. Company Announcements - The company held its first extraordinary general meeting on June 23, 2025, with 982 attendees representing 628,340,896 shares, accounting for 49.55% of the voting rights [2]. - Two key resolutions were passed: 1. Revision of the Articles of Association and cancellation of the supervisory board, with 622,267,738 votes in favor (99.03%) [2][4]. 2. Amendments to the rules of shareholder meetings, board meetings, and independent director work systems, with 622,194,138 votes in favor (99.02%) [2][4]. - The legal validity of the resolutions was confirmed by Guohao Law Firm [3][7]. Board Meeting Resolutions - The 28th meeting of the 10th Board of Directors was held on June 27, 2025, where the board approved amendments to 29 internal regulations and introduced a new management system for departing directors and senior management, with unanimous support [5][7].

Group 1 - The company has decided to abolish the supervisory board, transferring its responsibilities to the audit and compliance committee of the board of directors [2][3] - Amendments to the company's articles of association and various internal regulations have been proposed, including changes to the shareholder meeting rules and the independent director rules [2][3] - The company will submit the proposed amendments to the 2024 annual general meeting for approval [3][4] Group 2 - The company plans to purchase liability insurance for all directors, supervisors, and senior management, with a coverage limit of up to RMB 100 million and an annual premium not exceeding RMB 500,000 [3][4] - The board will seek authorization from the shareholders' meeting to manage the purchase and renewal of the liability insurance [3][4] - The proposal for liability insurance also requires approval at the upcoming 2024 annual general meeting [4]