China Zheshang Bank to dissolve board of supervisors

China Zheshang Bank has announced plans for an extraordinary general meeting (EGM) on December 31, 2025, to vote on several critical governance reforms. The primary proposal involves the dissolution of the board of supervisors, with its statutory functions and powers to be assumed by the board's audit committee. This change necessitates the appointment of employee directors to the board and corresponding amendments to the articles of association.

Further amendments to the articles of association and the rules of procedures for shareholders’ general meetings and the board of directors are also on the agenda. These updates align with the Company Law of the People’s Republic of China (2023 Revision) and guidelines from regulatory bodies like the CSRC and NFRA, aiming to enhance the bank's corporate governance system.

The bank's H shares register of members will be closed from December 24 to December 31, 2025, affecting share transfers for EGM attendance. The board recommends shareholders vote in favor of all proposed resolutions, which are considered to be in the best interests of the bank and its shareholders.