Core Viewpoint - The company has decided to abolish the supervisory board and amend its articles of association in accordance with the new Company Law effective from July 1, 2024, and relevant regulations from the China Securities Regulatory Commission [1][2][3]. Summary by Sections Cancellation of Supervisory Board - The supervisory board will be abolished, and its functions will be transferred to the audit committee of the board of directors [1][2]. - The relevant rules and regulations concerning the supervisory board will be repealed, and the articles of association will be revised accordingly [1][2]. Amendments to Articles of Association - The amendments involve numerous changes, including the unification of terms from "shareholders' meeting" to "shareholders' assembly" and the removal of references to the supervisory board and its members [2]. - The revised articles of association will not list every individual change but will include a comparison table for clarity [2]. Shareholder Meeting Approval - The decision to abolish the supervisory board and amend the articles of association will be submitted for approval at the company's third extraordinary general meeting of shareholders in 2025 [3]. - The board of directors will seek authorization from the shareholders to handle the registration and filing of these changes with the market supervision administration [3]. Revision of Related Governance Systems - The company plans to revise or supplement 20 governance systems to align with the amended articles of association, with the first ten requiring shareholder meeting approval [3].