Wanxiang Doneed to abolish supervisory board in governance revamp

Wanxiang Doneed Co., Ltd. has scheduled an extraordinary shareholders meeting for August 15, 2025, to vote on abolishing its supervisory board and overhauling its corporate governance structure.

The changes align with China's new Company Law effective July 2024. Shareholders will also elect five new directors to the tenth board, including three non-independent candidates and two independent directors, all serving three-year terms.