Huishang Bank proposes corporate governance reforms, abolishes board of supervisors

Huishang Bank Corporation Limited will hold its first extraordinary general meeting on Monday, February 2, 2026, in Hefei, Anhui Province, PRC. Shareholders will vote on four key proposals: the abolishment of the board of supervisors, amendments to the articles of association, and revisions to the rules of procedure for both the general meeting and the board.

The primary driver for these changes is to enhance the corporate governance system, aligning with the Company Law and relevant regulatory requirements. The audit committee under the board will assume the powers and functions previously held by the board of supervisors. Consequently, specialized committees under the board of supervisors will also be abolished, and existing supervisors will no longer serve. The proposed articles of association will comprise 19 chapters with 329 articles, incorporating these structural adjustments.

Additionally, the Bank plans to amend its rules of procedure of the general meeting, which will be renamed "rules of procedure of the shareholders’ meeting," and its rules of procedure of the board. These amendments aim to optimize the operating mechanisms of both governance bodies. The board recommends that shareholders vote in favor of all resolutions.