ICBC updates charter, abolishes board of supervisors

Industrial and Commercial Bank of China Limited (ICBC) announced the approval of its updated Articles of Association (2025 edition) and the abolishment of its board of supervisors, effective from the approval date. This change follows a resolution passed at the 2024 annual general meeting on June 27, 2025, and subsequent approval from the National Financial Regulatory Administration. The revised articles, along with updated rules for shareholder meetings, board meetings, and board committees (Nomination and Remuneration Committees, both 2025 editions), are now in effect.

Under the new governance structure, the board of supervisors and its members have been officially removed. Former supervisors Mr. Huang Li, Mr. Zhang Jie, and Mr. Liu Lanbiao have ceased their roles, with the company confirming no disagreements or outstanding matters to be communicated to shareholders or creditors.

The updated Articles of Association (2025 edition) indicate a registered capital of RMB356,406,257,089 and detail new provisions for preferred shares. These provisions include limitations on issuance, not exceeding 50% of ordinary shares by value or 50% of net assets before issuance, and mandatory conversion triggers, which must be approved by the National Financial Regulatory Administration. The document also stipulates the cessation of ordinary share dividend payments if capital adequacy ratios fall below regulatory requirements or other conditions arise that preclude dividend distribution.