Guoxuan High-Tech revamps governance, abolishes supervisory board

Guoxuan High-Tech is undergoing a major corporate restructuring, highlighted by the elimination of its supervisory board. The board’s responsibilities will be absorbed by the board of directors’ audit committee. This change, along with updates to the company’s registered capital, necessitated revisions to the Articles of Association and various management policies. The registered capital has been adjusted from RMB1,778,874,835 to RMB1,813,734,748 due to equity option exercises in 2023, 2024, and 2025.

Additionally, the company is proposing a new tenth board of directors comprising 11 members (6 non-independent, 4 independent, and 1 employee representative), with independent director Wang Feng nominated as a professional accountant. The new board will oversee strategic investments, including a 20 GWh lithium-ion battery manufacturing base in Nanjing and another in Wuhu, with a total investment not exceeding RMB4 billion. These strategic moves aim to enhance corporate governance and expand operational scale.