Qitian Technology Group overhauls governance, revises articles

Qitian Technology Group (SZSE:300061) announced the abolishment of its supervisory board, effective upon shareholder approval, with the audit committee under the board of directors assuming the supervisory board's former powers and functions. This change, approved by the board on October 27, 2025, aligns with recent regulatory updates and aims to enhance governance efficiency. The company also confirmed its intention to renew the appointment of Lixin Certified Public Accountants (Special General Partnership) as its auditor for 2025, pending shareholder approval. The audit fee for 2024 was CNY 2.2 million, with the 2025 fee to be negotiated based on actual services and market conditions.

The articles of association undergo extensive revisions, including changing "shareholder general meeting" to "shareholder meeting" and updating provisions related to shareholder rights, board authority, and financial management. Key amendments include clarifying conditions for stock repurchases, dividend distribution policies, and rules for related-party transactions, ensuring compliance with the latest laws and regulations. The company's related-party transaction management system outlines specific procedures and thresholds for transactions, emphasizing fairness, transparency, and the protection of minority shareholder interests.

Additionally, Qitian Technology Group is revising and formulating other governance documents, such as the Rules of Procedure for the Shareholder Meeting, Independent Director System, and Rules of Procedure for the Audit Committee, to further standardize internal operations.