GoerTek overhauls governance, proposes new board structure and capital increase

GoerTek announced a significant overhaul of its corporate governance, including revisions to its Articles of Association and other internal systems, approved at a board meeting on October 14, 2025. The company will increase its registered capital from 3,417,134,589 yuan to 3,538,871,496 yuan due to stock option exercises. Key changes include the dissolution of the supervisory board, with its functions transferred to the board's audit committee, and an expansion of the board of directors from seven to nine members, including a new employee representative director and a nominations committee.

Shareholders will vote on these proposals at the Second Extraordinary General Meeting on October 30, 2025, which will also elect the seventh board of directors. The board will comprise five non-independent directors, one employee representative director, and three independent directors. Candidates for independent directors include Huang Yidong and Jiang Fuxiu. The new board's remuneration and independent directors' allowances will also be subject to shareholder approval. The company maintains an outstanding guarantee balance of 1,193,065,600 yuan, representing 3.60% of its net assets as of December 31, 2024.