Kinwong Electronic updates governance ahead of H-share listing

Shenzhen Kinwong Electronic Co., Ltd. has prepared draft articles of association, effective upon its H-share listing on the Hong Kong Stock Exchange. The updated articles incorporate provisions for H-share issuance and clarify shareholder rights, board responsibilities, and financial management. Notably, the company plans to establish a communist party organization to conduct party activities.

Alongside the articles, Kinwong Electronic has adopted a "Management System for Raised Funds (Draft)" to regulate the use and storage of proceeds from H-share issuance. This system details the management of funds in special accounts, requiring board and shareholder approval for significant changes in use.

Additionally, Kinwong Electronic has implemented a "Connected (Related) Transaction Management System (Draft)" to ensure fairness in related party transactions, aligning with regulatory requirements for its H-share listing. This system outlines the definition, approval process, and disclosure obligations for various types of connected transactions, emphasizing the protection of company and shareholder interests.