COFCO Sugar to abolish supervisory board, revamp governance

COFCO Sugar Holding Co. (COFCO Sugar) will hold its second extraordinary general meeting of shareholders on September 22, 2025, to consider a series of proposals aimed at restructuring its corporate governance. A central proposal is the abolition of the company's supervisory board and the repeal of its "Rules of Procedure for the Supervisory Board." This move aligns with the "Company Law of the Republic of China" and relevant China Securities Regulatory Commission and Shanghai Stock Exchange regulations, with the audit and risk management committee of the board of directors set to assume the supervisory board’s functions.

The meeting will also address revisions to several foundational documents, including the "Articles of Association," "Rules of Procedure for General Meetings," "Rules of Procedure for the Board of Directors," "Independent Director Work System," "Implementation Rules for Cumulative Voting System," and "Measures for the Management of Independent Director Allowances." These revisions primarily update terminology, integrate new regulatory requirements, and reflect the change in supervisory structure.

The proposals, approved by the tenth board of directors and the tenth supervisory board, emphasize strengthening corporate governance, protecting shareholder interests, and ensuring the company's efficient and compliant operation. Shareholders will cast their votes both in person and via online platforms.