Shandong Oriental Ocean Sci-Tech revises governance framework, reappoints auditors

Shandong Oriental Ocean Sci-Tech has approved revisions to its management systems, reflecting a comprehensive governance update. The board resolved to update the management system for providing external financial assistance, effective from September 2025. This system outlines the conditions for providing financial assistance, approval processes, and the types of assistance permitted or excluded, such as those related to primary business activities or intra-group support. The Articles of Association and various internal governance documents, including those for external investments, fundraising, internal controls, and related party transactions, have also been revised.

The board also approved the re-appointment of HX Certified Public Accountants (Special General Partnership) as the company's financial and internal control auditor for 2025. The audit fee is RMB1.3m for financial statements and RMB0.3m for internal control, totaling RMB1.6m. These proposals are set to be submitted for approval at the first extraordinary general meeting in 2025 on October 24, 2025, to seek shareholder approval for the proposed amendments.