Luzhou Bank proposes abolishment of board of supervisors

Luzhou Bank announced it plans to abolish its Board of Supervisors, amending its Articles of Association and related procedures to align with regulatory changes and optimize corporate governance. The bank aims to transfer the responsibilities of the board of supervisors to the audit committee of the Board of Directors, pending shareholder and regulatory approval. This change follows the National Financial Regulatory Administration's guidelines. Shareholders will vote on the abolishment and the amended Articles of Association at an upcoming general meeting. The Board is seeking authorization to delegate the handling of related matters to the chairman, president, and secretary of the Board. If approved, existing rules for the board of supervisors and related committees will be terminated, and current members will cease to hold relevant positions.