CIMC group proposes governance document changes, updates audit committee role

China International Marine Containers (Group) Co., Ltd. held its eleventh board meeting in 2025 on October 10, 2025, to approve proposed amendments to its articles of association and rules of procedures for general meetings and the board of directors. These changes align with the new company law (2023 revision), updated securities and futures regulations, and listing rules for both the Shenzhen and Hong Kong stock exchanges.

A key amendment involves the revision of articles related to "supervisors" and the "supervisory committee," replacing them with references to the "audit committee." The audit committee, established under the board of directors, will now fully assume the responsibilities previously held by the supervisory committee. Furthermore, changes include updates to the issuance of shares, with the total number of shares authorized for issuance at incorporation noted as 58,240,000 shares, each with a par value of RMB1.00.

The proposed amendments also address the responsibilities of the legal representative, the process for increasing and decreasing registered capital, and guidelines for external guarantees and related-party transactions. These comprehensive revisions aim to enhance the company's governance framework, streamline operations, and ensure compliance with the latest legal and regulatory standards. The proposed amendments are subject to shareholder approval at a forthcoming general meeting, after which the supervisory committee will be abolished.