Xiangtan Electric to abolish supervisory board, revamp governance

Xiangtan Electric Manufacturing Company Limited (XEMC) has scheduled its second extraordinary general meeting of shareholders for November 18, 2025. The meeting, to be held at the company's offices in Xiangtan City, Hunan Province, will consider six proposals aimed at streamlining its governance structure and updating various internal regulations.

A primary agenda item is the proposal to cancel the supervisory board and amend the company's Articles of Association. In line with the 2023 revisions to the "Company Law of the People's Republic of China," the functions previously held by the supervisory board will be transferred to the audit committee of the board of directors. Consequently, the existing supervisory board positions will be terminated, and the "Rules of Procedure for the Supervisory Board of Xiangtan Electric Manufacturing Company Limited" will be abolished.

Additionally, the meeting will address revisions to several crucial company policies. These include updates to the "Rules of Procedure for Shareholder Meetings," "Rules of Procedure for Board Meetings," "Independent Director Work System," "Management System for Raised Funds," and "Decision-making System for Connected Transactions." These comprehensive revisions aim to further improve Xiangtan Electric's governance framework and ensure compliance with relevant laws and regulations, with full details disclosed on the Shanghai Stock Exchange website.