Hundsun Technologies reforms governance, cancels board of supervisors

Hundsun Technologies (SSE:600570) announced a series of governance reforms, including the cancellation of its board of supervisors and corresponding amendments to its Articles of Association. The duties previously held by the board of supervisors will now be exercised by the board’s audit committee. This decision, approved by the Ninth Board of Directors at its seventh meeting, reflects the company's commitment to align with new legal and regulatory requirements.

In conjunction with these changes, the company’s registered capital increased from RMB 1,891,767,475 to RMB 1,894,734,207, and the total share capital increased from 1,891,767,475 shares to 1,894,734,207 shares. This adjustment primarily results from the exercise of stock options under the 2022 and 2023 incentive plans, with notable exercises in the third quarter of 2025 for the 2022 plan (2,966,730 shares) and the first quarter of 2025 for the 2023 plan (2 shares).

The company also revised and formulated numerous internal governance policies, including those for shareholder meetings, board of directors meetings, information disclosure, and investor relations. The proposed cancellation of the board of supervisors and amendments to the Articles of Association require approval from shareholders at the second extraordinary general meeting of 2025.