Beijing Human Resources approves governance revisions, formalizes oversight of raised capital

Beijing International Human Capital Group Co., Ltd. (Beijing Human Resources) held its second extraordinary general meeting of shareholders in 2025 on October 13, where key resolutions were passed. Shareholders approved revisions to the company's Articles of Association, Shareholder Meeting Rules, Board Meeting Rules, Related Party Transaction Management System, and Management System for the Use of Raised Funds. These "special resolution" items received over two-thirds approval from attending shareholders, including proxies. Additionally, a resolution concerning a subsidiary providing financial assistance to an associate company was also approved.

In a related development, Beijing Human Resources formalized the oversight of its raised capital by signing a tripartite supervision agreement for its special fundraising accounts. This follows the approval from the China Securities Regulatory Commission in 2022 to raise up to 1,596,696,900 yuan. The actual net proceeds amounted to 1,581,962,589.68 yuan after deducting issuance expenses.

The company has established dedicated accounts with China Merchants Bank and China CITIC Bank for its FESCO Digital Integration Project. The tripartite agreements, involving Beijing Human Resources, the banks, and CITIC Securities as the independent financial advisor, ensure stringent management and transparency of these funds. The independent financial advisor will conduct regular site investigations and inquiries to supervise the use of the raised capital.