GRG Banking Group revises articles of association, streamlines governance

GRG Banking Equipment Co., Ltd. (referred to as “the Company”) has announced a significant revision to its Articles of Association, as detailed in an ad hoc report issued by GF Securities Co., Ltd., its entrusted manager. This report, dated September 25, 2025, follows the Company's decision to update its corporate governance in line with the latest legal and regulatory requirements. The revisions were approved at the Seventh Session of the Sixteenth Board Meeting on August 27, 2025, and subsequently at the first extraordinary general meeting of shareholders on September 17, 2025.

A notable change is the elimination of the supervisory board and the corresponding repeal of the “Rules of Procedure for the Supervisory Board.” This strategic adjustment aims to streamline governance, with the company’s operating management authorized to handle related matters. The report emphasizes that GF Securities, acting as the entrusted manager, will continue to ensure investor interests are protected by diligently overseeing the Company's disclosure obligations.

The report also provides details on two bonds: "24 Yuntong 01" and "25 GRG K1." The "24 Yuntong 01" bond, with a principal amount of 1 bn yuan and a three-year term, carries an interest rate of 2.30%, with interest payments scheduled annually and principal repayment on April 29, 2027. The "25 GRG K1" bond, a 400 m yuan issuance for technology innovation, also has a three-year term but at a 1.80% interest rate, with principal repayment on May 30, 2028. Both bonds are unsecured, and their proceeds are allocated for working capital and equity investments, respectively.