GF Securities proposes extensive amendments to articles of association

GF Securities Co. announced on December 1, 2025, proposed amendments to its Articles of Association, Rules of Procedure for General Meeting, and Rules of Procedure for the Board of Directors. These revisions are in response to the new Company Law of the People’s Republic of China, which took effect on July 1, 2024, and subsequent supporting institutional rules issued by the China Securities Regulatory Commission (CSRC) on December 27, 2024, and March 28, 2025. Key changes include the establishment of an audit committee under the Board to assume the powers of the supervisory committee, along with other adjustments to align with updated guidelines and regulations.

The amendments also reflect the abolition of certain previous regulatory notices, such as those related to mandatory provisions for overseas-listed companies. Significant modifications include updated provisions for share issuance, buyback procedures, and shareholder rights. For instance, the threshold for shareholders to request an extraordinary general meeting has been revised from 3% to 1% of voting shares. Additionally, procedures for handling interested party transactions and the roles of independent directors have been clarified to enhance corporate governance.

The board of directors approved these amendments at a meeting on December 1, 2025. The proposals will be submitted for approval by shareholders at an upcoming extraordinary general meeting and class meetings via a special resolution. Further details will be released in a circular on the Hong Kong Stock Exchange and the company's websites.