Huatong board approves audit committee, shareholders pass governance revisions

Zhejiang Century Huatong Group's board of directors, at its meeting on September 15, 2025, confirmed the members of its audit committee. The board unanimously approved the committee's composition, with Zhao Qi, Yao Chengxiang, and Zhang Xinrong named as members, and Zhang Xinrong designated as the convenor. This follows a special resolution from the Fourth Extraordinary General Meeting of Shareholders on the same date, which eliminated the supervisory board, transferring its functions to the audit committee.

The Fourth Extraordinary General Meeting of Shareholders, held on September 15, 2025, approved multiple proposals to amend corporate governance documents. Shareholders passed revisions to the company's articles of association, shareholder meeting rules, board of directors meeting rules, independent director work system, external investment management system, external guarantee management system, related party transaction management system, system for preventing occupation of company funds by controlling shareholders and related parties, fundraising management system, auditor selection system, and the remuneration management system for directors and senior management.

Voting results showed strong support for the proposed amendments, with all special resolutions passing by more than two-thirds of the effective voting shares. For instance, the revision to the articles of association received 91.5612% approval. Shareholders also approved the reappointment of the 2025 audit institution with 99.9243% of votes in favor.