Guizhou Network boosts capital, overhauls governance as supervisory board abolished

Guizhou Broadcasting & TV Information Network announced a substantial increase in its registered capital from yuan 1,042,568,441 to yuan 1,246,799,854, following the conversion of its yuan 1,597,668,000 convertible bonds into 204,231,413 A-shares by March 4, 2025. This capital adjustment will be reflected in revisions to the company's Articles of Association and requires industrial and commercial registration changes.

Furthermore, the company is abolishing its supervisory board, with its functions transferring to the audit committee of the board of directors. This change, along with a reduction in the number of directors from 11 to 9, aligns with new corporate governance guidelines. These proposals, approved by the board on November 28, 2025, will be put to a shareholder vote at an extraordinary general meeting scheduled for December 15, 2025.

The revised Articles of Association reflect these changes, alongside other updates to align with current regulations, including adjustments to shareholder rights, board responsibilities, and financial reporting protocols. The company will also update its governance frameworks, such as the Rules of Procedure for Shareholder Meetings and Board Meetings, and the Independent Director Work System.