Quectel Wireless streamlines governance, cancels board of supervisors, and adopts new rules

Quectel Wireless Solutions (SSE:603236) has announced a sweeping overhaul of its corporate governance structure, highlighted by the elimination of its board of supervisors. The decision, effective upon shareholder approval, reflects alignment with updated regulatory standards and aims to streamline oversight responsibilities under the board of directors' audit committee. Accompanying the board change are revisions to nearly thirty internal management systems, ranging from shareholder meeting rules to director duties, and information disclosure protocols. These changes, approved at the Sixth Meeting of the Fourth Board of Directors, seek to enhance corporate operational efficiency and transparency. The comprehensive governance review includes adjusted procedures for capital management, investment decisions, and risk oversight, all designed to protect shareholder interests. Shareholders will vote on key agenda items, including adjustments to the company charter and related rules.