Huafeng Test & Control to revamp governance, extend bond issuance deadline

Beijing Huafeng Test & Control Technology Co., Ltd. will hold its third extraordinary general meeting of shareholders on December 29, 2025, to address several critical proposals. Key among these is the abolition of the supervisory board, with its functions to be assumed by the board's audit committee, and a revision of the company's articles of association. The board of directors will expand from six to eight members, including an increase in independent directors from two to three, and the addition of one employee representative director. Mr. Gao Bin has been nominated as a new independent director.

The company also seeks to extend the validity period for its resolutions regarding the issuance of convertible corporate bonds to unspecified investors. The original resolution, approved on February 28, 2025, was set to expire on February 28, 2026. Due to the incomplete issuance, the company proposes extending this validity and the authorization for the board of directors to manage related matters by an additional 12 months, pushing the new expiration date to February 28, 2027.

Shareholders will also vote on revisions to various corporate governance documents, including rules for shareholder meetings, board meetings, independent director work systems, related party transaction management, investment decision-making, external guarantees, fundraising management, and compensation systems for directors and senior management.