Huishang Bank proposes abolishing board of supervisors, revamping governance

Huishang Bank Corporation Limited announced on November 25, 2025, that its Board of Directors approved a proposal to abolish the Board of Supervisors. This change, in accordance with the Company Law of the People's Republic of China, will see the Audit Committee under the Board assume the powers previously held by the Board of Supervisors.

Concurrently, all specialized committees under the Board of Supervisors will be abolished, and current supervisors will no longer serve. The abolishment will take effect upon approval by the General Meeting and the banking regulatory authority.

The bank also proposes significant amendments to its Articles of Association, which will now comprise 19 chapters and 329 articles. Additionally, the Rules of Procedure of the General Meeting will be revised to 6 chapters and 80 articles, and renamed "Rules of Procedure of the Shareholders' Meeting of Huishang Bank Corporation Limited." The Rules of Procedure of the Board will be updated to 11 chapters and 68 articles. These changes aim to enhance corporate governance and optimize operational mechanisms.

These proposed amendments and the abolishment of the Board of Supervisors will be submitted to the General Meeting for consideration and approval. The Board also seeks authorization from the General Meeting to make further adjustments and handle registration with relevant authorities following regulatory approval.