China Enterprise shareholders back governance overhaul, abolish supervisory board

China Enterprise Company Limited held its first extraordinary general meeting of shareholders for 2025 on November 27, 2025, with a strong turnout representing 77.8538% of total voting shares. All resolutions presented were passed, indicating broad shareholder support for the proposed changes.

Key resolutions included the revision of the company's Articles of Association and the abolishment of the supervisory board, which received an overwhelming 99.4463% approval from A-shareholders. Shareholders also approved revisions and formulations of company governance-related policies with 99.4433% of A-share votes.

Shareholders passed a resolution concerning the controlling shareholder's commitment to avoid horizontal competition following a change in controlling shareholder. This resolution, involving a related-party transaction where Shanghai Real Estate (Group) Co., Ltd. and its affiliates abstained from voting, passed with 98.6576% of the remaining A-share votes. The meeting was confirmed by legal counsel as having been convened and conducted in compliance with relevant laws and regulations.