CDB Leasing to abolish board of supervisors after NFRA approval

China Development Bank Financial Leasing Co., Ltd. (CDB Leasing) announced the Shenzhen Office of the National Financial Regulatory Administration (NFRA) has approved amendments to its Articles of Association. This approval, granted on December 5, 2025, makes the amended Articles of Association effective immediately. The company previously obtained shareholder approval for these amendments and the cancellation of the Board of Supervisors and supervisors at an Extraordinary General Meeting and Class Meetings held on July 31, 2025.

As a direct consequence of the regulatory approval, CDB Leasing will abolish its Board of Supervisors and its individual supervisors from December 5, 2025. The duties and powers previously held by the Board of Supervisors will be assumed by the Audit Committee of the Board of Directors, in line with PRC Company Law and other regulatory requirements.

In tandem with these changes, the rules governing the Board of Supervisors and related corporate governance systems have been abolished. Wang Yiyun, Wang Bin, and Ma Yongyi will no longer serve as supervisors. The company expressed gratitude for their contributions.