Gansu Dunhuang Seed revamps governance, abolishes supervisory board

Gansu Dunhuang Seed Group Co., Ltd. announced a series of governance reforms effective October 2025, highlighted by the dissolution of its supervisory board. The supervisory board’s functions will transfer to the board of directors’ audit committee. This change necessitates extensive revisions to the company’s articles of association and other internal governance documents, which have been approved by the board of directors and the supervisory board. These amendments, awaiting shareholder approval, aim to align with legal requirements and improve corporate governance.

The company's board of directors, comprising nine members with three independent directors, will continue to oversee strategic decisions, risk management, and operational matters. These reforms involve the establishment of new and revised internal control systems, including updated rules for shareholder and board meetings, independent director duties, and specialized committees such as the Strategy and Development Committee, Nomination Committee, and Remuneration and Evaluation Committee.

The board also approved the 2025 remuneration plan for directors and senior management, with a total remuneration of 249.42m yuan for 2024. The remuneration for independent directors is set at 60,000 yuan per person annually (post-tax), while non-independent directors not holding other executive positions will receive 30,000 yuan per person annually (post-tax). These proposals, along with the updated articles of association and other governance policies, will be presented for approval at the extraordinary general meeting on November 20, 2025.