Xiangtan Electric to revamp governance, expand business scope

Xiangtan Electric Manufacturing Co., Ltd. (SSE:600416) disclosed significant governance changes, including the cancellation of its supervisory board and revisions to its articles of association, effective October 30, 2025. These changes, approved by the ninth board of directors, transfer supervisory functions to the board's audit committee. The move aligns with the latest legal and regulatory requirements and aims to streamline corporate operations.

Key revisions to the articles of association involve updating the company's registered capital to RMB1,475,782,384, expanding the business scope to include new energy vehicle components, and establishing a robust framework for independent directors. The amendments emphasize enhancing shareholder oversight and clarifying responsibilities for directors and senior management, while also providing improved transparency in related-party transactions and financial reporting.

Shareholders will vote on these proposals at a general meeting. Until then, the current supervisory board will continue its duties. The changes will be accompanied by updated internal governance documents, ensuring a smooth transition to the new structure.