Luzhou Bank amends articles, abolishes board of supervisors

Luzhou Bank received approval from the Sichuan Regulatory Bureau of the National Financial Regulation Administration on November 10, 2025, for amendments to its Articles of Association, effective November 7, 2025. These amendments, approved at the bank's annual general meeting on June 30, 2025, include the legal abolishment of the board of supervisors and termination of related corporate governance systems. Key changes primarily involve restructuring governance responsibilities, transferring functions from the former board of supervisors to the audit committee under the board of directors.

Specific amendments to Article 30 expand the circumstances for share repurchase to include using shares for convertible corporate bonds and maintaining shareholder equity, while Article 31 updates repurchase limits and procedures. Other notable changes involve the composition of the CPC committee (Article 59) and the Discipline Inspection Commission, as well as revised procedures for shareholders' meetings (Articles 77, 82, 107, 123) and director nominations. The changes also update criteria for independent directors (Article 163) and outline the audit committee's enhanced powers (Article 202), reflecting a streamlined governance framework.