Shenwan Hongyuan updates governance rules, strengthening corporate practices

Shenwan Hongyuan Group Co., Ltd. held its first extraordinary general meeting of 2025 on October 31, 2025, approving revisions to its Articles of Association, Shareholder Meeting Rules, Board of Directors Meeting Rules, Independent Non-Executive Directors System, Connected Transaction Management System, External Guarantee Management System, and Raised Funds Management System. These updates aim to align the company's governance with current legal, regulatory, and exchange requirements, including those of the Shenzhen Stock Exchange and the Hong Kong Stock Exchange.

Key approvals include updated definitions of "connected persons" and "connected transactions," revised procedures for board and shareholder approvals, and enhanced transparency measures. The changes also detail the responsibilities of directors, senior management, and controlling shareholders to prevent conflicts of interest and ensure fair dealings. The amendments reinforce the company's framework for managing external guarantees, including stringent approval processes and a requirement for counter-guarantees from non-wholly-owned subsidiaries.

All proposals were passed by more than two-thirds of the voting rights held by attending shareholders, with A-share minority shareholders also participating in the voting. The approved changes are effective from the date of shareholder approval and are intended to improve operational efficiency and protect investor interests.