Foton Motor to revamp board, amend articles of association

Beiqi Foton Motor Co., Ltd. (Foton Motor) is preparing for its Eighth Extraordinary General Meeting of Shareholders in December 2025, where key resolutions regarding the company's governance and board composition will be presented. The agenda includes proposed revisions to the company's Articles of Association and the election of new directors for the Tenth Board of Directors. The current Ninth Board of Directors, which began its term on November 15, 2022, is scheduled to conclude on November 14, 2025. Due to preparations for the Tenth Board, the current board's tenure has been extended.

The proposed revisions to the Articles of Association focus on strengthening the role of the Communist Party of China's organizations within the company, emphasizing the "two-way entry and cross-appointment" leadership system. Key changes include clarifying the Party Committee's leadership role in strategic direction and major decision-making, as well as outlining its responsibilities in political leadership, talent management, and anti-corruption efforts.

Shareholders will vote on the election of six non-independent directors: Chang Rui, Wu Xibin, Wu Ji, Gu Xin, Wang Xuequan, and Wang Decheng. Additionally, four independent directors—Ye Shengji, Li Ya, Liu Tingli, and Li Weiqing—have been nominated for election. These nominations have received no objection from the Shanghai Stock Exchange. The new board will serve a three-year term starting from the date of shareholder approval.