China Merchants Property overhauls governance, schedules EGM

China Merchants Property Operation & Service has resolved to rename its "Audit Committee" to "Supervisory Committee" and transfer all previous supervisory board powers and responsibilities to this committee. Concurrently, the company will discontinue the Supervisory Board and its positions, with relevant members stepping down. This change necessitates amendments to the company's Articles of Association and rules of procedure for the Shareholders' Meeting and Board of Directors. The legal representative will also transition from the chairman to the general manager, contingent on shareholder approval.

The board of directors approved all these proposals unanimously, paving the way for a third extraordinary general meeting in 2025, scheduled for October 21, 2025. This meeting will seek shareholder approval for the revised Articles of Association and associated procedural rules. All related documents detailing these amendments will be publicly disclosed on the company's designated information platforms.