Baosight Software announces board revamp, governance updates

Shanghai Baosight Software announced a series of key corporate governance updates, including the second amendment of its Articles of Association, following approvals from its board of directors and supervisors. The company will no longer have a supervisory board, with its functions transferred to the board of directors' audit committee. The updated Articles of Association emphasize the role of the Communist Party organization within the company, focusing on leadership, strategic direction, and implementation.

The board of directors will be expanded to 11 members, with 5 independent directors and 6 non-independent directors, elected at the upcoming 2025 Second Extraordinary General Meeting on October 10, 2025.

The company also disclosed its 2025-2027 Shareholder Return Plan, prioritizing cash dividends with a target of at least 30% of average annual distributable profit over the three-year period. Additionally, Tianjian Certified Public Accountants will continue as the company's auditor for 2025, with an estimated audit fee of 1.22 million yuan.