Faratronic to abolish supervisory board, update governance

Xiamen Faratronic Co., Ltd. announced on December 4, 2025, that its board of directors approved the abolishment of the supervisory board and the amendment of the company’s articles of association. This decision aligns with new regulations from the "Company Law of the People's Republic of China" and the "Guidelines for Articles of Association of Listed Companies (Revised 2025)." The duties of the supervisory board will be transferred to the board's audit committee.

The company will no longer establish a supervisory board, and its existing "Rules of Procedure for the Supervisory Board" will be invalidated. Before the shareholders' meeting approves the abolishment, the supervisory board will continue to perform its oversight functions according to regulations. Key changes to the Articles of Association include removing references to the "supervisory board" and "supervisors," with the audit committee taking over their responsibilities.

Further modifications based on the updated regulations include revisions to several corporate governance policies, such as the "Rules of Procedure for the Board of Directors' Audit Committee," "Information Disclosure Management System," and "Internal Reporting System for Material Information." Additionally, the company will formulate a new "Information Disclosure Deferral and Exemption Management System."