China Molybdenum dissolves supervisory board, revises governance structure

Luoyang Molybdenum Co., Ltd. (China Molybdenum) announced the cancellation of its supervisory board on November 17, 2025. Its functions will now be assumed by the board of directors' audit and risk committee to optimize governance structure and improve decision-making efficiency. Consequently, the company's "Supervisory Board Rules of Procedure" will be abolished, and all relevant internal control regulations will be updated.

In conjunction with this change, China Molybdenum is revising its Articles of Association and internal control systems. Key amendments include reassigning the supervisory board's duties and updating various clauses in the Articles of Association to align with current regulatory requirements and the company's operational realities. Revisions to the "Fundraising Management System" were also made in accordance with "Rules for the Supervision of Fundraising by Listed Companies."

The proposed changes to the "Articles of Association," "Shareholders' Meeting System," "Board of Directors' Meeting System," "Third-Party Guarantee Management System," "External Donation Management System," "External Investment Management System," "Related Party Transaction Management System," "Fundraising Management System," "Cumulative Voting System Implementation Rules," and "Bondholder Meeting Rules" are pending approval at the company's general shareholders' meeting.