Jilin Forest Industry board proposes governance changes, director expansion

Jilin Forest Industry's board of directors convened an extraordinary meeting on August 25, 2025, to address several key governance enhancements. The board unanimously approved additional revisions to the company's articles of association, specifically increasing the number of directors from seven to nine. This resolution, alongside the original proposal to amend the articles of association and abolish the supervisory board, will be presented for shareholder approval at the upcoming extraordinary general meeting on September 4, 2025.

Further amendments were approved to the company's rules of procedure for board meetings, which include modifications to clauses related to the supervisory board and supervisors. All resolutions received unanimous approval from the seven attending directors. Shareholders will vote on these proposals at the extraordinary general meeting, where they will also consider other matters, including the first-half 2025 performance review and an update on the use of idle funds for reverse repurchase agreements.

The board also discussed the company's first-half 2025 financial performance and addressed shareholder questions regarding the 200,000-ton production capacity, the divestment of the landscaping business, and ongoing legal disputes.