Zhongtai Chemical revises articles, abolishes supervisory board

Xinjiang Zhongtai Chemical Co. announced on September 29, 2025, the revision of its articles of association, following approval by its eighth board of directors. The key change involves the elimination of the supervisory board, with its functions absorbed by the board of directors' audit committee. This restructuring aims to enhance corporate governance and standardize operations. Consequently, the company's supervisors will cease to serve, and related supervisory board regulations will be abolished.

The revisions also include a change in the company's legal representative from the general manager to the chairman, effective immediately. If the chairman resigns, the company will appoint a new legal representative within 30 days. Furthermore, the updated articles emphasize the role of the Communist Party organization, specifying that the Party Committee will "play a leading role, grasp direction, manage the overall situation, and ensure implementation."

Other notable amendments include a clarification that directors, supervisors, and senior management of wholly-owned subsidiaries who breach regulations causing losses can be pursued by shareholders. The company also updated its provisions on capital increases, share repurchases, and shareholder obligations, aligning with current laws and regulations.