Zhejiang Wanma proposes board changes, supervisory board abolition

Zhejiang Wanma Co., Ltd. announced proposals to amend its Articles of Association and related appendices, alongside a comprehensive board reshuffle, following its Sixth Board of Directors' term expiration. The company intends to abolish the Supervisory Board, transferring its functions to the Board of Directors' Audit Committee. These changes, pending approval at the upcoming 2025 Third Interim General Meeting of Shareholders, will necessitate industrial and commercial change registration.

The Seventh Board of Directors will comprise nine members: five non-independent directors, one employee representative director, and three independent directors. Shareholders will vote on eight non-independent director candidates and three independent director candidates using a cumulative voting system. The board has nominated Zhao Jian, Huang Shengqiang, Wei Hongtao, Liu Shan, Wang Xiang, Zhang Shan, Xu Lanzhi, and Lu Xiangqun as non-independent director candidates, and Yang Liming, Li Qifeng, and Li Yong as independent director candidates.

The 2025 Third Interim General Meeting of Shareholders is scheduled for Friday, November 28, 2025, at 14:30 in Hangzhou. Shareholders will be able to vote both in person and online via the Shenzhen Stock Exchange trading system and internet voting system. Independent director candidates' qualifications and independence require no objection from the Shenzhen Stock Exchange before the shareholder vote.