Qingdao Hanhe Cable proposes governance changes, dissolves supervisory board

Qingdao Hanhe Cable announced on November 10, 2025, that its board and supervisory board approved extensive revisions to the company's articles of association and various governance systems. The changes, which will be submitted for shareholder approval, aim to streamline operations and strengthen internal controls.

The primary revision involves the board's audit committee assuming the supervisory board's functions, leading to the dissolution of the supervisory board pending shareholder approval. This move necessitates corresponding updates to the company's information disclosure, risk investment, and external guarantee management systems.

The amendments also include updates to shareholder meeting procedures, director qualifications, and profit distribution policies, emphasizing investor returns and transparent financial reporting. Revisions were made to the company's information disclosure management system, audit committee work rules, and remuneration management for directors and senior executives. These comprehensive changes reflect the company's commitment to aligning with regulatory standards and improving its corporate governance structure.