Wanhua Chemical to reduce capital, overhaul governance

Wanhua Chemical Group's board of directors, in a meeting on October 10, 2025, approved a proposal to reduce registered capital, amend the Articles of Association, and abolish the supervisory board. This decision follows a share repurchase plan, approved at the 2024 annual general meeting, which concluded on July 10, 2025. The company repurchased 9,275,000 shares for a total of RMB 49,997.96万元. This led to a registered capital reduction from RMB 3,139,746,626 to RMB 3,130,471,626.

The Articles of Association will be amended to reflect the removal of the supervisory board, with its functions transferred to the Board's Audit and Compliance Management Committee. All references to "shareholders' general meeting" will be unified to "shareholders' meeting." These changes aim to streamline corporate governance in line with updated regulations.

The proposals, approved unanimously by the board, will be submitted for approval at the company's first extraordinary general meeting of 2025.