Core Viewpoint - The report discusses the recent changes in the governance structure of Tangshan Jidong Cement Co., Ltd, including the cancellation of the supervisory board and changes in board members, which may impact the rights of bondholders [1][4][5]. Group 1: Bond Issuance Details - The company issued bonds aimed at professional investors, with a total approved scale of 2 billion [2]. - The bonds have a fixed interest rate and will pay interest annually, with the principal repaid at maturity [3]. - The bonds are managed by Zheshang Securities, which is responsible for representing the interests of all bondholders [2][3]. Group 2: Governance Changes - The company has decided to abolish the supervisory board, transferring its powers to the audit and risk committee of the board of directors [4]. - Two directors, Wang Xiangdong and Zhu Yan, have resigned due to work adjustments, with their resignations effective immediately upon submission of their written reports [5][6]. - A new employee director, Jiang Yusheng, has been elected to the board, with her term aligning with the current board's term [6].