Shandong Hi-Speed Road & Bridge updates corporate governance documents

Shandong Hi-Speed Road & Bridge (SZSE:000498) announced its board of directors approved significant amendments to its corporate governance framework. Resolutions included revisions to the articles of association, shareholder meeting rules, and board of directors meeting rules. These changes, effective upon shareholder approval, align with the "Company Law of the People's Republic of China" and other regulatory guidelines.

Key amendments to the articles of association include updates to the company’s registered capital, now stated as CNY 1,552,439,109, and refined stipulations for legal representation and shareholder rights. The articles now explicitly state that if the chairman resigns, a new legal representative must be appointed within 30 days. Additionally, a new provision clarifies that the chairman's resignation is deemed simultaneous with the termination of their legal representative status.

The revised shareholder meeting rules and board of directors meeting rules detail stricter procedures for meeting convocation, proposal submission, and voting. These updates aim to improve operational efficiency and ensure robust decision-making processes, safeguarding shareholder interests in accordance with prevailing legal and regulatory standards.