Qifeng New Material revises corporate governance framework

Qifeng New Material convened its Sixth Board of Directors' Fifteenth Meeting on October 14, 2025, approving revisions to the "Articles of Association" and various governance documents. These changes will be effective upon approval at the upcoming 2025 Fourth Extraordinary General Meeting on October 30, 2025. Key amendments include the removal of the supervisory board, transferring its functions to the audit committee, and renaming "shareholder meeting" to "shareholders' general meeting."

The company's updated "Internal Reporting System for Significant Information" clarifies reporting obligations for individuals with access to inside information, expands the scope of significant events, and outlines procedures for internal reporting and external disclosure. Revisions also address the "Annual Report Information Disclosure Major Error Accountability System," the "Related Party Transaction Management Measures," and the "External Guarantee Management Measures" to align with current regulatory requirements and enhance risk management and transparency.

Additional revisions cover the "External Investment Management System," "External Financial Assistance Management System," and "Internal Control System," among others. These updates aim to strengthen internal management, prevent capital occupation by controlling shareholders and related parties, and standardize external investment activities. The "Investor Relations Management System" was also updated to improve communication with investors and enhance overall corporate governance.