Kehua Bio-Engineering to abolish supervisory board, update capital and reappoint auditor

Shanghai Kehua Bio-Engineering (SZSE:002022) announced resolutions from its tenth board of directors' seventeenth meeting, outlining major governance overhauls and a forthcoming extraordinary general meeting. The company plans to abolish its supervisory board, transferring its functions to the board's audit committee, and will concurrently repeal the "Rules of Procedure for the Supervisory Board." This decision necessitates extensive revisions to the "Articles of Association," covering various operational and administrative aspects.

These changes follow the company's increased share capital due to convertible bond conversions, rising from 514,317,177 to 514,348,244 shares. The board has also proposed the re-appointment of Rongcheng Certified Public Accountants (Special General Partnership) as the auditor for the 2025 financial year, a decision that has received approval from both the audit committee and supervisory board. The extraordinary general meeting, scheduled for October 29, 2025, will seek shareholder approval for these resolutions, including the cancellation of the supervisory board and the updated articles of association.