Sinochem International revamps governance, to abolish supervisory board

Sinochem International Corp. announced resolutions from its tenth supervisory board's sixth meeting and tenth board's eleventh meeting, both held on September 12, 2025, to streamline its corporate governance. The supervisory board unanimously approved a proposal to cancel the board and revise the company's articles of association. These responsibilities will be absorbed by the board of directors' audit and risk committee, aligning with new company law and related transitional arrangements. The current supervisory board will be dissolved, and its members' duties will cease following shareholder approval.

Concurrently, the board of directors also approved the cancellation of the supervisory board and the revision of the articles of association, subject to shareholder approval. Additionally, the board approved a proposal for Sinochem International to provide a counter-guarantee for its associate company, Halcyon Agri Corporation Limited, which plans to secure $200m financing. Sinochem International will guarantee 29.2% of the principal ($58.4m) plus interest, penalties, and liquidated damages.

These decisions, including revisions to corporate governance documents like the "Rules of Procedure for Shareholder Meetings" and "Rules of Procedure for Board Meetings," will be presented at the company's fourth extraordinary general meeting for 2025, scheduled for September 29, 2025. This meeting will address the proposed changes, marking a pivotal step in Sinochem International’s governance and financial restructuring.