Liaoning SG Automotive Group cancels supervisory board, reports Q3 loss

Liaoning SG Automotive Group's board of directors approved the cancellation of the supervisory board, with its functions to be assumed by the board's audit committee. This decision necessitates revisions to the company’s Articles of Association and the formulation or amendment of several corporate governance policies, which will be submitted for shareholder approval at the third extraordinary general meeting in 2025.

The board also approved the company’s Q3 2025 report and the reappointment of Beijing Dehao International Certified Public Accountants (Special General Partnership) as the audit firm for 2025 financial statements and internal controls. Concurrently, Ms. Cui Qinglian resigned from the Strategic Investment Committee but will continue her roles as an independent director and chairwoman of the Nomination and Remuneration and Assessment Committees. The Strategic Investment Committee's member count will be reduced from five to three.

The Q3 2025 report shows a total operating revenue of 1,172,252,679.67 yuan and a net loss of 226,949,257.13 yuan for the first nine months. The company's operating cash flow decreased significantly by 485.88% due to increased procurement payments and operating note deposits.