Oppein Home Group to boost capital, overhaul governance

Oppein Home Group Inc. announced plans for a capital increase, raising its registered capital from RMB 609,152,455 to RMB 609,152,720. This adjustment reflects the conversion of its “Oppein 22 Convertible Bonds,” totaling 20,000 yuan, into 265 A-share stocks between April 1, 2024, and August 31, 2025.

The company also proposes to eliminate its supervisory board, with the board's audit and risk management committee assuming its responsibilities. This change necessitates a comprehensive revision of Oppein Home Group's articles of association and other governance documents to align with regulatory updates and enhance operational efficiency.

Shareholders will also vote on a proposal to adjust the independent director stipends for the fifth board of directors to RMB 165,000 per person annually (pre-tax), reflecting their qualifications, expertise, and the company's overall financial health. Additionally, the election of non-independent and independent directors for the fifth board is on the agenda, with their terms commencing immediately upon shareholder approval.