Xi'an Triangle Defence reforms governance, revises charter and policies

Xi'an Triangle Defence is implementing a major governance overhaul, highlighted by the elimination of its supervisory board, with its functions transferring to the audit committee. This change, along with a reduction in registered capital from yuan 550,239,988 to yuan 547,539,288 due to the repurchase and cancellation of 2,700,700 restricted shares, necessitates revisions to the company's Articles of Association.

The company's board will be restructured to 12 members for the fourth term, including 8 non-independent directors (one employee representative) and 4 independent directors. Notably, key internal policies such as the "System for preventing occupation of company funds by controlling shareholders and related parties," "External Guarantee Management Measures," and "External Investment Management Measures" have been revised and now require shareholder approval.

These comprehensive updates, effective from September 2025, aim to strengthen internal controls, prevent financial misconduct, and align with the latest legal and regulatory requirements, enhancing the company’s operational integrity and shareholder protections.