Levima Advanced Materials to overhaul corporate governance, replace supervisory board

Levima Advanced Materials Corporation is implementing substantial changes to its corporate governance, aligning with legal and regulatory updates. The company's board of directors, comprising eight members with one chairman and three independent directors, will now operate under revised Articles of Association and updated Board of Directors' Rules of Procedure. These changes eliminate the supervisory board, transferring its oversight functions to an audit committee, thereby streamlining the governance structure.

The company's information disclosure and related party transaction management systems have also been updated to reflect these governance changes, ensuring enhanced transparency and compliance. Levima will convene its third extraordinary general meeting on October 31, 2025, to seek shareholder approval for the revised Articles of Association and amendments to management regulations, among other key resolutions.

In the third quarter of 2025, Levima Advanced Materials reported a net profit of CNY 71.74 million, marking a 90.90% increase year-over-year. The company's total assets grew by 16.66% to CNY 22,778.54 million compared to the end of the previous year. These financial results were released ahead of the corporate governance restructuring.