JCET Group updates governance, secures RMB4.8 bn financing

JCET Group held its sixteenth interim meeting of the eighth board of directors on December 10, 2025, approving revisions to its Articles of Association and other corporate governance documents. Key changes include abolishing the Supervisory Board, with its functions transferred to the Audit Committee, and increasing the number of board directors from 9 to 12 (including 4 independent directors and 1 employee representative director). Registered capital was updated from RMB1,779.553 million to RMB1,789.414570 million due to share option exercises.

In a related development, JCET Group also announced the successful registration of RMB4.8 billion in mid-term notes with the National Association of Financial Market Institutional Investors. This financing, approved at the 2024 Annual General Meeting, will be underwritten by a syndicate of banks including China Construction Bank, Bank of Communications, and Industrial and Commercial Bank of China, and is valid for two years from the approval date. Additionally, the board approved the internal transfer of 77.27% of Suzhou Changdian Xinpeng Investment Co., Ltd.'s equity to JCET Group to optimize management structure.

These strategic decisions, including the governance overhaul and the securing of substantial financing, are poised to enhance JCET Group's operational efficiency and strengthen its financial position. The revised Articles of Association and related governance policies will be publicly disclosed on the Shanghai Stock Exchange website.