Dongfeng Automobile to revamp governance, abolish supervisory board

Dongfeng Automobile Company Limited's board of directors, at its eighteenth meeting on October 13, 2025, approved the abolition of its supervisory board. The duties previously held by the supervisory board will now be performed by the company's Audit and Risk (Supervision) Committee. This change necessitates extensive revisions to the "Articles of Association," "Rules of Procedure for Shareholder Meetings," and "Rules of Procedure for Board Meetings." These updated governance documents will be submitted to shareholders for approval.

In addition to governance structure changes, the board approved an increase in the authorized limit for structural deposits to RMB1.2 bn, effective until April 30, 2026. This allows management to make decisions regarding structural deposits within this new limit.

The board also ratified or developed new internal policies, including revised frameworks for the Audit and Risk (Supervision) Committee, Remuneration Management Committee, and Nomination Committee. Other updated policies include those on information disclosure, internal reporting, and investor relations. Notably, the revised "Implementation Rules for the Remuneration Management Committee of the Board of Directors" will also require shareholder approval. The company will convene its fourth extraordinary general meeting for 2025 to consider these proposals.