CICC amends articles, cancels supervisory committee to update governance

China International Capital Corporation Limited (CICC) is implementing significant amendments to its Articles of Association, primarily focused on the cancellation of its Supervisory Committee. The Audit Committee of the Board of Directors will now assume the functions and powers previously held by the Supervisory Committee, in accordance with various regulatory requirements including the Company Law of the People's Republic of China and Guidelines for the Articles of Association of Listed Companies.

Further amendments involve updates to business objectives, share capital structure, and shareholder rights and obligations. Article 11 outlining business objectives is revised to emphasize "building China's world-class investment bank" and "actively practice the securities industry cultural concepts of 'Compliance, Integrity, Professionalism and Stability'". The company's total issued shares remain 4,827,256,868, with 2,923,542,440 domestic listed shares and 1,903,714,428 overseas listed foreign shares.

The changes also introduce new provisions regarding financial assistance for share acquisition and enhanced independent director duties, reflecting evolving corporate governance standards. These amendments, considered and approved by the Board and Supervisory Committee, will be submitted to the Shareholders' General Meeting for final approval.