Guangdong Yuehai Feeds revamps governance, abolishes board of supervisors

Guangdong Yuehai Feeds announced the abolition of its board of supervisors, transferring its functions to the board's audit committee. This change necessitates extensive revisions to the company's articles of association, with the term "shareholders' general meeting" uniformly replaced by "shareholders' meeting." The updated articles also modify rules regarding director and senior management shareholdings, now including all equity-natured securities. Additionally, new provisions for independent directors have been introduced, establishing their qualifications, duties, and special powers, including the requirement for their approval on related-party transactions and changes to commitment plans.

The company is also revising and formulating several governance policies, including those for shareholder meetings, board meetings, independent directors, external guarantees, external investments, related-party transactions, fundraising, information disclosure, and executive stockholding. Policies like the external guarantee management system and external investment management system, which require shareholder approval, will be submitted to a shareholder meeting on November 10, 2025. This meeting will also address the amendments to the articles of association and other governance policies, ensuring comprehensive alignment with the new corporate structure and regulatory requirements.