Beijing Shiji announces board refresh, governance updates ahead of term end

Beijing Shiji Information Technology Co., Ltd. is undertaking a board re-election for its ninth board of directors, as the eighth board's term concludes on December 1, 2025, and the current board size is below the seven-member requirement. The proposed ninth board will comprise seven directors: four non-independent (including one employee representative) and three independent directors. The company has nominated Mr. Li Zhongchu, Mr. Li Diankun, and Mr. Zhuang Zhuoran as non-independent director candidates, and Mr. Zhou Long, Ms. Zhao Junzhu, and Mr. Qin Jian as independent director candidates. Mr. Zhou Long is a certified accountant and, along with Ms. Zhao Junzhu, possesses independent director qualification certificates, while Mr. Qin Jian has committed to obtaining one. These elections will be presented at the second extraordinary general meeting of 2025, using cumulative voting.

The company is also revising its Articles of Association and several governance policies to align with updated laws and regulations, including the "Company Law" and "Listing Rules." Key changes include eliminating the supervisory board and transferring its functions to the board's audit committee. The revisions also clarify rules for related party transactions, external guarantees, and internal information management.

Additionally, Beijing Shiji has set the remuneration for its ninth board's independent directors at CNY 60,000 per person per year (tax included), effective from the general meeting's approval date until the end of their term. This decision was reviewed by the board’s remuneration and assessment committee. The company is also forecasting its routine related-party transactions for 2025.