JAC Motors proposes major governance overhaul and capital initiatives

Anhui Jianghuai Automobile Group Corp (JAC Motors) is proposing a comprehensive overhaul of its corporate governance, including the abolition of the supervisory board. Its functions will be absorbed by a new audit committee under the board of directors, necessitating extensive revisions to the company's articles of association and various internal rules. These changes aim to streamline decision-making and enhance the efficiency of governance.

Shareholders will also vote on extending the validity of the resolution for a private placement of A-shares. The proposed extension moves the deadline from November 19, 2025, to November 19, 2026, to ensure the continuity and effectiveness of the ongoing fundraising process. This measure indicates the company's commitment to securing necessary capital despite potential delays.

Furthermore, JAC Motors plans to re-appoint Tianjian Certified Public Accountants as its financial and internal control auditor for 2025, with an estimated fee of 2.18 million yuan. The meeting will also include the election of new directors, with three independent and five non-independent board members proposed, signaling a refreshed leadership structure.