Fen Wine Factory to revise governance, elect new board in 2025

Shanxi Xinghuacun Fen Wine Factory Co., Ltd. will convene its second extraordinary general meeting on September 19, 2025, to address key changes in its corporate governance. The agenda includes proposed revisions to the company's Articles of Association and other governance policies, aligning them with the 2025 China Securities Regulatory Commission guidelines for listed companies.

A major focus of the meeting will be the election of the ninth board of directors, as the current eighth board's term is expiring. Nominees for non-independent directors include Yuan Qingmao, Wu Yuefei, Li Zhenhuan, Liu Weihua from Shanxi Xinghuacun Fen Wine Group, and Wang Yan, Ma Wenjie from China Resources XINRUI (Hong Kong) Co., Ltd. For independent directors, Zhou Peiyu, Li Linchun, Fan Yanping, and He Zhen have been nominated by Shanxi Xinghuacun Fen Wine Group.

The proposed revisions to the Articles of Association include updates to the definition of legal representative, enhanced shareholder rights, clearer guidelines for capital increases and reductions, and new provisions for internal audit and specialized committees. Notably, the board size will be reduced from 15-17 to 7-13 directors. Furthermore, specific thresholds for related party transactions requiring shareholder approval will be adjusted, with transactions exceeding RMB30 million or 5% of the last audited net assets requiring shareholder consent.