China Coal Xinji streamlines governance, scraps supervisory board
China Coal Xinji Energy (SSE:601918) announced it will eliminate its supervisory board, consolidating its functions into the board of directors' audit and risk committee. This move comes alongside a comprehensive revision of the company’s governance framework. The decision to scrap the supervisory board and place its duties under the audit and risk committee is subject to shareholder approval. The company also plans to revise its articles of association. Other governance revisions needing shareholder sign-off include updates to rules governing shareholder meetings, board meetings, and independent directors, plus enhancements to related-party transaction protocols and information disclosure practices. The company’s board has scheduled a shareholder meeting for June 26, 2025, to vote on the planned changes. If approved, the revisions are expected to streamline decision-making and improve oversight efficiency, the company stated. The updated articles of association will be available on the Shanghai Stock Exchange's website.
This report was generated by FilingReader's AI system from regulatory filings and company disclosures. To request a correction, contact editorial@filingreader.com
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