Hainan Shennong Technology streamlines governance, boosts internal controls

Hainan Shennong Technology's board of directors approved amendments to its Articles of Association. Key changes include the removal of the supervisory board and the transfer of its functions to the board's audit committee. This restructuring aims to streamline governance and enhance operational efficiency. The company also updated its internal control, information disclosure, related party transaction, and investor relations management policies, emphasizing improved transparency and stricter oversight.

The comprehensive revisions cover multiple aspects, from shareholder rights and responsibilities to the management of significant events and financial reporting. Enhanced guidelines for external guarantees, entrusted wealth management, and the use of raised capital underscore the company’s commitment to risk management. These changes, approved by the board on October 27, 2025, will be put to a shareholder vote at an extraordinary general meeting on November 14, 2025, and are designed to align the company with the latest regulatory standards and best practices in corporate governance.