Qingling Motors proposes article amendments, abolishes supervisory committee

Qingling Motors Co. Ltd. (HKEX: 1122) announced proposed amendments to its Articles of Association and the abolishment of its Supervisory Committee. The changes are prompted by the Decision of the State Council to Repeal Certain Administrative Regulations and Documents, the Trial Administrative Measures of Overseas Securities Offering and Listing by Domestic Companies, collectively, the New PRC Regulations promulgated by the China Securities Regulatory Commission (CSRC) that took effect on 31 March 2023, and the amended Company Law of the People's Republic of China which came into effect on 1 July 2024. The amendments include replacing the Supervisory Committee with an Audit Committee, changes to the company's business scope, and aligning with guidelines on listed company articles of association. Furthermore, the proposed changes aim to enhance electronic communication capabilities and voting mechanisms. The proposed amendments will be presented for shareholder approval at the upcoming annual general meeting (AGM).