Baosight Software proposes charter amendments, board re-election

Shanghai Baosight Software will hold its second extraordinary general meeting of shareholders on October 10, 2025, to discuss significant changes to its Articles of Association and corporate structure. A key proposal involves eliminating the supervisory board, with its functions to be assumed by the board's audit committee. This move aims to align with new Company Law regulations and enhance governance.

The meeting will also address the re-election of the board, proposing a reduction in the number of directors for the eleventh board to 11. Shareholders will vote on the appointment of five non-independent directors and five independent directors. Independent director remuneration is proposed at yuan 180,000 annually (pre-tax).

Furthermore, the company plans to approve its three-year shareholder return plan for 2025-2027, outlining principles and mechanisms for profit distribution. The current external auditor, Tianjian Certified Public Accountants, is also recommended for re-appointment for the 2025 fiscal year, with audit fees expected to increase by no more than 10% from 2024’s yuan 1.22m.