Core Viewpoint - The trend of purchasing Directors and Officers Liability Insurance (D&O Insurance) among A-share listed companies continues to rise, with 272 companies announcing their intention to buy or have already purchased such insurance in 2024, maintaining a high level compared to previous years [1][3]. Group 1: Market Trends - In 2024, the number of A-share listed companies announcing D&O Insurance purchases is nearly equal to the total for 2023, indicating sustained interest [3]. - The manufacturing sector represents a significant portion of companies opting for D&O Insurance, with policy limits typically ranging from 50 million to 100 million yuan, and total premiums generally amounting to several hundred thousand yuan [3][4]. - The recent implementation of the new Company Law in July 2024 has established a legal framework for D&O Insurance, increasing the accountability of directors and executives [5]. Group 2: Reasons for Increased Demand - The new Company Law has strengthened the liability risks for directors and executives, prompting companies to seek D&O Insurance to mitigate these risks [5]. - Heightened regulatory scrutiny in the securities market and recent litigation cases have raised awareness of the potential risks faced by executives, further driving demand for D&O Insurance [5]. - The increasing number of companies purchasing D&O Insurance has created a demonstration effect, encouraging others to follow suit [5]. Group 3: Challenges in D&O Insurance Development - Despite the growing interest, challenges remain in the development of D&O Insurance, including insufficient localization of policy terms, lack of scientific pricing, and a shortage of specialized talent [7]. - The insurance market has historically been slow to adopt D&O Insurance, with many products inadequately tailored to align with domestic legal frameworks, leading to a mismatch between coverage and actual needs [7]. - The current lack of a comprehensive legal framework for executive liability in China adds uncertainty to the insurance companies' compensation responsibilities [7]. Group 4: Claims and Risk Management - There has been a noticeable increase in claims related to D&O Insurance, with several significant payouts reported in recent quarters, totaling over 8 million yuan [8]. - To address the rising claims, insurance companies need to enhance their risk assessment and management practices, ensuring that policy terms align with the actual risks faced by insured companies [8]. - Strengthening risk warning systems and improving information sharing within the industry are essential for enhancing pricing capabilities and risk management [8].

Group 1 - The company will hold its 2024 Annual General Meeting on June 26, 2025, at 14:30 [3][40] - The meeting will be conducted in a hybrid format, combining on-site voting and online voting [5][40] - The record date for shareholders to attend the meeting is June 20, 2025 [6] Group 2 - The company plans to purchase Directors, Supervisors, and Senior Management Liability Insurance to enhance its risk management system [30] - The insurance coverage limit will not exceed RMB 30 million, with an annual premium not exceeding RMB 150,000 [31] - The Supervisory Board supports the purchase, stating it will strengthen corporate governance and protect the rights of the company and its investors [32]

Core Points - The company held its first temporary meeting of the 11th Supervisory Board on May 28, 2025, via communication voting, with all three supervisors participating [2] - The Supervisory Board approved a proposal to purchase professional liability insurance for directors, supervisors, and senior managers to protect their legal rights and reduce risks during their duties [3] - The company plans to revise its Articles of Association to abolish the Supervisory Board, transferring its powers to the Audit Committee of the Board of Directors [3][4] - The company also approved amendments to the Rules of Procedure for Shareholders' Meetings, which will be submitted for shareholder approval [4] Insurance Proposal - The company intends to purchase professional liability insurance from China Ping An Property Insurance Co., Ltd., with a total coverage limit of 100 million yuan [3] - The insurance will cover civil compensation claims due to unintentional violations and related legal service fees, with a premium estimated to be within 360,000 yuan [3] Governance Changes - The proposal to abolish the Supervisory Board received unanimous approval from the participating supervisors and will be submitted to the shareholders' meeting for further consideration [3] - The amendments to the Articles of Association and the Rules of Procedure for Shareholders' Meetings are aimed at aligning with relevant laws and improving governance [4]

又一家上市银行将取消监事会。 5月21日，长沙银行（SH601577，股价9.65元，总市值388亿元）召开2024年年度股东大会，"不再设置监 事会，监事会的职权由董事会审计委员会行使"成为此次股东大会审议议题之一。 《每日经济新闻》记者注意到，近期，多家银行及保险机构发布了拟撤销或不再设立监事会的公告，不但 涉及国有大型商业银行、全国股份制银行和地方性城商行、农商行等，还有上市保险公司、外资财险公司 等。 种种迹象表明，金融机构的公司治理正在经历一次深刻改革。据了解，金融机构取消监事会的思路来源于 《中华人民共和国公司法》（以下简称公司法）的修改，为做好公司治理监管规定与公司法的衔接，金融 监管总局曾在去年末下发相关文件为金融机构在公司治理结构上的优化提供了合规空间，鼓励金融机构探 索更适应自身发展的治理模式。 就在近日，国家金融监督管理总局又发布新规，对信托公司治理结构进行实质性改革。新规明确，信托公 司可依据公司章程在董事会内设置审计委员会，由董事组成并行使监事会职权，从而无需单独设立监事会 或监事。这一调整打破了传统 "三会一层"（股东会、董事会、监事会、高级管理层）的治理框架，是监管 部门优化公司 ...

Group 1 - The company plans to purchase Directors, Supervisors, and Senior Management Liability Insurance for all independent directors to mitigate legal risks and responsibilities associated with their roles [1][2] - The purpose of the insurance is to enhance the company's risk management mechanisms, allowing independent directors to perform their duties more effectively and confidently, thereby protecting the interests of the company and its investors [1][2] - The board of directors has proposed to authorize the management to handle the insurance purchase, including selecting the insurance company and determining coverage limits and premiums [2] Group 2 - The proposal has been reviewed and approved by the board's governance and human resources committee, as well as the board and supervisory committee meetings, ensuring that independent directors recused themselves from voting on the matter [2]

近日，中国证券业协会组织起草了《证券公司董事、监事、高级管理人员及证券从业人员投资行为管理指引（试 行）（征求意见稿）》，向行业征求意见。这是中证协针对从业人员投资行为管理专门出台的规则，行业自律管 理"严"的氛围进一步加强。 对于证券从业人员投资行为管理，《证券业从业人员执业行为准则》明确，禁止从业人员直接或以化名、他人名义 持有、买卖股票或其他具有股权性质的证券；禁止从业人员利用内幕信息、未公开信息进行证券交易，或明示、暗 示他人从事相关交易。《证券经营机构及其工作人员廉洁从业实施细则》要求，证券经营机构建立从业人员投资行 为管理制度等。《指引》出台意味着对从业人员投资行为的管理将更加全面完整、更成体系，也更加严格。 如《指引》要求证券公司人员管理和行为管理全覆盖。在人员管理方面，即便是从事党务工作、辅助支持业务、综 合管理业务的相关人员含借调人员也要纳入管理。在行为管理方面，要求有效覆盖投资申报、登记、审查监测、核 查、处置、惩戒、报告、检查等全部流程和各个环节，实现全方位管理。 《指引》要求监管落实落细。券商应当明确监测的范围与标准，通过对从业人员的手机号码、办公电脑MAC地址、 公司网络IP地址等关 ...