PowerChina plans governance overhaul, supervisory board abolition

PowerChina has scheduled its first extraordinary general meeting of shareholders for November 18, 2025, to consider several significant revisions to its corporate governance documents. Key among these is a proposal to amend the company's articles of association, which includes the abolition of the supervisory board. Its duties would be transferred to the audit and risk management committee of the board of directors. This change aligns with the 2023 revision of the "Company Law of the People's Republic of China" and the 2025 revision of the "Guidance for Articles of Association of Listed Companies."

Further proposed amendments involve revisions to the "Rules of Procedure for the General Meeting of Shareholders (2022 Edition)" and the "Rules of Procedure for Board Meetings (2022 Edition)." The company also plans to update its "Measures for the Administration of Raised Funds" and "Measures for the Administration of External Guarantees" (both 2022 Edition), as well as the "Work System for Independent Directors (2024 Edition)" and "Administration System for Related Party Transactions (2024 Edition)." All proposed revisions aim to strengthen internal governance and regulatory compliance.