Core Viewpoint - Hengsheng Energy Co., Ltd. has decided to abolish its supervisory board and amend its articles of association, transferring the supervisory responsibilities to the audit committee of the board of directors, which requires approval from the upcoming extraordinary general meeting of shareholders [1]. Summary by Sections Reason for Abolishing the Supervisory Board - The decision to abolish the supervisory board is based on the provisions of the Company Law of the People's Republic of China, the Shanghai Stock Exchange Listing Rules, and the actual circumstances of the company [1]. Amendments to Articles of Association - The articles of association will be revised to reflect the changes, including the removal of the supervisory board and the corresponding adjustments to related rules [1]. Changes in Company Structure - The company will no longer have a supervisory board, and its powers will be exercised by the audit committee of the board of directors [1]. Legal Compliance - The amendments are in compliance with relevant laws and regulations, ensuring the protection of the rights of the company, shareholders, and creditors [1]. Shareholder Meeting - The proposed changes will be submitted for review at the company's first extraordinary general meeting of shareholders in 2025 [1].