Bank of Shanghai abolishes supervisory board, amends articles

Bank of Shanghai Co., Ltd. held its first extraordinary general meeting of shareholders in 2025 on August 8, 2025, where it approved the proposal to abolish the supervisory board and amend the company's articles of association. The company recently received approval for these amendments from the Shanghai Regulatory Bureau of the National Financial Regulatory Administration.

Effective from the date of approval of the revised articles, the company's supervisory board will be legally abolished. Its duties, as stipulated by the Company Law and regulatory provisions, will be assumed by the board of directors' audit committee. Corresponding operational and performance-related systems for the supervisory board will also be simultaneously abolished.

Ge Ming, Ding Bing, and Zhang Lei will no longer serve as supervisors or hold related positions. Ding Bing and Zhang Lei have pledged to continue complying with the two-year lock-up period for company shares acquired during their tenure as supervisors, starting from the date of purchase. The Bank of Shanghai expressed heartfelt gratitude for their contributions.