Centre Testing International Group to restructure governance, leadership

Centre Testing International Group, under chairman Wan Feng, announced major reforms to its corporate governance structure, effective November 10, 2025. These changes include the elimination of the supervisory board, with its functions transferred to the board's audit committee. This restructuring necessitates extensive revisions to the company's Articles of Association, Investment Decision Procedures and Rules, Related Party Transaction Decision-Making System, Independent Director Work System, and Fundraising Management System.

The company's board of directors will expand to seven members, including three independent directors, with at least one independent director having accounting expertise. The board has nominated four non-independent director candidates—Wan Feng, Shen Tunzhong, Qian Feng, and Qi Guancheng—and three independent director candidates—Cheng Haijin, Liu Zhiquan, and Yang Fang, for election at the forthcoming First Extraordinary General Meeting of 2025. Shareholder approval for these changes will be sought at the November 28, 2025, meeting. Concurrently, independent director Zeng Fanli will step down, having completed six years of service.

The proposed revisions streamline decision-making processes, particularly for investment and related-party transactions, aligning them with the new Company Law. Key updates include a simplified shareholder approval threshold for certain related-party transactions and the removal of the specific "general manager" role, replacing it with "president." The company will also adjust its external guarantee management, fundraising, and information disclosure policies to reflect these governance enhancements.