Shenwan Hongyuan to dissolve supervisors board, restructure governance

Shenwan Hongyuan Group Co., Ltd. (HKEX:6806) announced proposed amendments to its articles of association and the dissolution of its board of supervisors. These changes, approved by the company's board and board of supervisors, are aimed at improving corporate governance in alignment with the Company Law of the People's Republic of China and other regulatory provisions. Upon approval at a general meeting, the audit committee of the board will assume the functions and powers previously held by the board of supervisors.

The dissolution will also result in the cancellation of the financial supervision and inspection committee and the performance supervision and inspection committee under the board of supervisors. Existing supervisors will cease their roles. The amended articles of association will take effect following approval at the general meeting, which is scheduled for October 13, 2025.

Key amendments include clarifying the duties and obligations of controlling shareholders and de facto controllers, adjusting shareholder voting rights thresholds, and updating provisions related to directors' responsibilities and the company's financial reporting. Shenwan Hongyuan will also implement an internal audit system with a dedicated leadership structure.