China West Construction Group proposes governance overhaul, abolishes supervisory board

China West Construction Group is proposing to change its business scope, removing "labor dispatch services," and concurrently revising its Articles of Association. This strategic adjustment aims to align with operational needs and market regulations. The company's board of directors approved these changes and several related governance updates at its meeting on October 15, 2025.

The company will also abolish its supervisory board, transferring its functions to the Board of Directors' Audit and Risk Committee. This involves extensive revisions to the Articles of Association, covering areas such as shareholder rights, board composition, and the duties of senior management. The changes also include the approval of revised rules for shareholder and board meetings.

Furthermore, the board approved the re-appointment of Li Xin Certified Public Accountants (Special General Partnership) as the company's 2025 audit institution, with an annual audit fee of 2.5 million yuan for financial reports and 600,000 yuan for internal control audits. The company also plans to increase the independent director allowance from 60,000 yuan to 120,000 yuan per person annually. All proposed changes require shareholder approval at an extraordinary general meeting scheduled for November 3, 2025.