China Development Bank Leasing proposes governance rule overhauls

China Development Bank Financial Leasing Co. Ltd. announced a third extraordinary shareholders' meeting to be held on Wednesday, December 31, 2025, at 10:00 a.m. in Shenzhen, PRC. Shareholders will consider and approve proposed amendments to the rules of procedures for the shareholders' meeting, the rules of procedures for the board of directors, and the equity management measures. The changes aim to align with updated PRC company law, latest regulatory requirements, and enhance corporate governance.

Key amendments include revisions to shareholder meeting procedures, director nomination and election processes, and equity management. For instance, shareholders individually or jointly holding 1% or more of voting shares can now submit proposals for the shareholders' meeting, a reduction from the previous 5%. The board of directors will also establish a new "social responsibility and consumer rights protection committee" to address ESG-related matters.

The proposed amendments detail new obligations for substantial shareholders, including not transferring equity within five years post-acquisition (with exceptions) and a prohibition on pledging shares or placing them under trust. Shareholders who fail to repay loans to the company will have their voting rights restricted.