Chengdu Expressway to abolish supervisory committee, update governance structure

Chengdu Expressway Co., Ltd. announced proposals for an extraordinary general meeting (EGM) on December 23, 2025. The key agenda item is the abolition of the supervisory committee and subsequent amendments to the company's articles of association and rules of procedure for both general meetings and the board of directors. This restructuring responds to regulatory changes, including the repeal of special regulations of the State Council on overseas offering and listing by joint stock limited companies, among others.

The proposed amendments will transfer the supervisory committee's functions and powers to the audit and risk management committee under the board. Additionally, the company plans to appoint one employee director to the board, adjust the board's structure, and optimize the functions and powers of the general meeting, the board, and the chairman. The changes also include lowering the shareholding threshold for shareholders to propose agenda items from 3% to 1%.

Shareholders are required to submit transfer documents and proxy forms by December 17, 2025, at 4:30 p.m. to be eligible to attend and vote at the EGM. The register of members will be closed from December 18, 2025, to December 23, 2025. The board comprises chairman Mr. Yang Tan, executive directors Mr. Ding Dapan and Mr. Xia Wei, non-executive directors Ms. Wu Haiyan and Mr. Jiang Xinliang, and independent non-executive directors Mr. Leung Chi Hang Benson, Mr. Qian Yongjiu, and Mr. Wang Peng.