Bank of Jiangsu proposes significant governance and capital adjustments

Bank of Jiangsu has called for its second extraordinary general meeting of shareholders in 2025 to consider significant changes to its corporate governance framework. The proposed resolutions include no longer establishing a supervisory board, with its functions transferred to the board's audit committee. This change necessitates extensive revisions to the company’s articles of association and its rules of procedure for both the shareholders' meeting and the board of directors.

Key amendments to the articles of association span numerous sections, including the definition of "shareholder" to specifically refer to common stock shareholders in many contexts, and updated provisions regarding the capital increase and decrease of registered capital. The company's registered capital is stated as RMB 18,351,324,463, with common shares totaling 18,351,324,463 and preferred shares totaling 200 million.

Furthermore, the board of directors' responsibilities will be updated to reflect the new governance structure, impacting decisions on external investments, asset acquisitions, and disposals. These changes are slated to take effect upon regulatory approval of the revised articles of association.