Wuxi Shangji Automation enhances governance with new management systems

Wuxi Shangji Automation has enacted several comprehensive management systems, effective September 2025, to bolster corporate governance. These include a new management system for the special storage and use of raised funds, ensuring that proceeds from securities offerings are managed in designated accounts and used strictly according to approved plans. This system outlines application, approval, and disclosure procedures for fund usage, including temporary cash management and changes in investment direction.

Concurrently, a revised management system for director and senior executive compensation establishes principles for fair, performance-linked remuneration. It details the roles of the general manager, remuneration and appraisal committee, audit committee, and shareholders in setting and approving compensation, with specific criteria for base salary and performance bonuses, and conditions for withholding awards.

The company also introduced updated management rules for external investments and related-party transactions. The external investment policy classifies investments as short-term or long-term, defining approval thresholds and procedures based on asset value, transaction amount, and impact on net profit. The related-party transaction system aims to ensure fairness and transparency in dealings with connected parties, outlining approval and disclosure requirements for various transaction types and amounts.