Hainan Rubber revamps governance, appoints director, assesses typhoon impact

Hainan Rubber is undergoing a significant governance restructuring, with the supervisory board approving the cancellation of the supervisory board itself and amendments to the company's articles of association. These changes will delegate the supervisory board's responsibilities to the board's audit committee, reflecting an effort to streamline corporate governance. Concurrently, the board of directors has approved the nomination of Mr. Han Jiuhai as a non-independent director, effective immediately. These proposals will be submitted for approval at an upcoming extraordinary general meeting.

In other developments, Typhoon Matmo, which made landfall in Zhanjiang, Guangdong, with maximum winds of 14-grade (42 m/s), caused an estimated loss of 0.24 million rubber trees and a projected 0.028 million tons reduction in annual dry rubber output. Despite these biological asset losses, the company has confirmed no casualties and has largely resumed normal operations, with the financial impact deemed to have a limited effect on its overall sustainable development.