Zhejiang Dashengda proposes major governance overhaul, supervisory board abolition

Zhejiang Dashengda Packaging Co., Ltd. will hold its second extraordinary general meeting of shareholders for 2025 on November 17, 2025. The meeting will address a series of proposed changes aimed at aligning the company with the latest legal and regulatory requirements and enhancing corporate governance. Key among these proposals is the cancellation of the company's supervisory board, with its functions to be absorbed by the board of directors' audit committee.

Concurrently, the company proposes extensive revisions to its Articles of Association, the Shareholder Meeting Rules, and the Board of Directors Meeting Rules. These changes are expected to streamline internal oversight. Additionally, the agenda includes the revision, formulation, and abolition of several internal control policies, such as the external guarantee system, external investment management, related party transaction management, and independent director work system.

The meeting will also see the formulation of a new policy to prevent major shareholders and related parties from occupying company funds and the repeal of existing guidelines for controlling shareholders, actual controllers, directors, supervisors, and senior management personnel. These proposals were disclosed on the Shanghai Stock Exchange website on October 30, 2025.