Hainan Rubber cancels supervisory board, expands business scope

China Hainan Rubber Industry Group's board of directors approved the cancellation of its supervisory board, transferring its functions to the board's audit committee. This change necessitates revisions to the company's Articles of Association, Shareholder Meeting Rules, Board Meeting Rules, and Audit Committee Implementation Rules, all of which require shareholder approval. The company also nominated Han Jiuhai as a non-independent director candidate, to be elected at the upcoming Second Extraordinary General Meeting of Shareholders on October 29, 2025.

Additionally, the board decided to abolish the overseas management department, with its responsibilities to be reallocated among other headquarters departments to enhance functional oversight of overseas enterprises. The Second Extraordinary General Meeting will also address the appointment of accountants for 2025.

The proposed revisions to the Articles of Association primarily replace "Supervisory Board" with "Audit Committee" where applicable, and "General Meeting of Shareholders" with "Shareholder Meeting". The company's legal representative will be the chairman of the board, and the business scope will be expanded to include new activities like rubber planting, forestry product collection, and agricultural machinery services, reflecting strategic adjustments.