Friendess Electronic proposes governance updates, retains auditor

Shanghai Friendess Electronic Technology Corporation is seeking shareholder approval for substantial revisions to its governance framework, including its external investment, related party transactions, and remuneration policies. The company plans to convene an extraordinary general meeting on October 13, 2025, to vote on 13 proposals. Key amendments involve updated external investment and related party transaction management systems, a revised cumulative voting implementation, and a new independent director work system.

The company also proposes to retain Rongcheng Certified Public Accountants (Special General Partnership) as its auditor for 2025, with audit fees totaling CNY 64.60 million. This decision follows a review by the audit committee and board of directors, which confirmed the firm's qualifications and independence. Additionally, proposals include increasing registered capital, abolishing the supervisory board, and refining the articles of association and shareholder meeting rules. These changes underscore Friendess Electronic’s commitment to enhancing operational transparency and investor protection.