China Software proposes eliminating board of supervisors, revising articles

China National Software & Service Co. Ltd. announced its intention to abolish its Board of Supervisors, transferring oversight functions to the Board of Directors' Audit Committee. This change, effective upon shareholder approval, aligns with the newly revised "Company Law of the People's Republic of China" and the "Guidance on Articles of Association for Listed Companies" (2025).

The company also plans to revise its Articles of Association, including adjusting the threshold for shareholder proposals from 3% to 1% of total voting shares and redefining "external directors." The proposed revisions also involve updating the company's registered capital from CNY 940,093,188 to CNY 933,786,584, reflecting the repurchase and cancellation of 6,306,604 restricted shares completed on July 30, 2025. This move aims to streamline internal governance while maintaining robust oversight through the enhanced role of the Audit Committee. Shareholder approval of these changes is sought at the third extraordinary general meeting on September 12, 2025.