Universal Scientific Industrial (Shanghai) enhances governance, appoints new director

Universal Scientific Industrial (Shanghai) (USI) held its first extraordinary general meeting of 2025 on September 12, approving several key resolutions. Shareholders sanctioned updated procedures for the acquisition or disposal of assets, new related party transaction decision-making regulations, and a revised external guarantee management system. The company also adopted an amended independent director work system, an external investment management system, and financial assistance management methods. These updates aim to enhance transparency, standardize operations, and strengthen risk control.

Concurrently, USI announced the election of Wei Zhenyan as an employee representative director to its sixth board of directors, following a second employee representative meeting on September 12. Wei, who also serves as the company's general manager, will hold this position until the board’s term expires. This appointment ensures that the number of directors who are also senior management or employee representatives does not exceed one-half of the total number of directors.

The resolutions passed received strong shareholder support, with proposals on adjusting financial derivative transaction limits, extending authorization periods, and amending the articles of association, all passing with over 99% approval from attending shareholders. The legal opinion confirmed that the general meeting’s convening, procedures, and resolutions were valid and in compliance with relevant laws and regulations.