Shandong Homey Aquatic proposes governance overhaul, abolishes board of supervisors

Shandong Homey Aquatic Development announced a series of sweeping governance reforms, highlighted by the proposed cancellation of its board of supervisors and subsequent amendments to its Articles of Association, Rules of Procedure for Shareholders' Meetings, Rules of Procedure for Board Meetings, and Implementation Rules of the Audit Committee. These changes, approved by the eleventh board of directors at its twelfth meeting on October 13, 2025, are slated for review at the first extraordinary general meeting of shareholders on October 28, 2025.

Key revisions include renaming "Shareholders' General Meeting" to "Shareholders' Meeting," updating statutory representative protocols, and enhancing shareholder protection mechanisms. The company will also revise its external guarantee management system and related party transaction decision-making procedures, aligning them with new legal and regulatory requirements. Additionally, the independent director work system, nomination committee, remuneration and assessment committee, and information disclosure management systems are being updated.

All proposals received unanimous approval from the nine directors present at the board meeting. These amendments signify a strategic move to streamline governance and reinforce compliance across critical operational areas, reflecting the company’s commitment to modernizing its corporate structure.