Wasu Media overhauls governance, operations, and leadership structure

Wasu Media Holding approved a comprehensive update to its business scope, revising its Articles of Association and electing new board members. The updated business scope now includes expanded licensing for broadcasting, video-on-demand, and various telecom value-added services, alongside general activities like investment, cultural content services, and technology sales. Key revisions to the Articles of Association include eliminating the Supervisory Board, transferring its duties to the Board's Audit Committee, and renaming the "Strategic Committee" to the "Strategic and Sustainable Development Committee."

The company also announced a board reshuffle, proposing new non-independent and independent directors for the 12th Board of Directors. These candidates, including Ms. Qiao Xiaoyan as a non-independent director and Mr. Wang Xingjun as an independent director, are subject to Shenzhen Stock Exchange approval and shareholder vote, with the new board taking office for a three-year term starting November 3, 2025. Additionally, the company updated several internal governance policies, including rules for investor relations, information disclosure, and internal control.