Shandong Humon Smelting to abolish supervisory board, streamline governance

Shandong Humon Smelting will hold its Sixth Extraordinary General Meeting of Shareholders on December 2, 2025, to vote on a proposal to abolish its supervisory board and amend its articles of association. The supervisory board's responsibilities will be transferred to the board's audit committee. This change aims to streamline corporate governance in accordance with the "Company Law of the People's Republic of China" and related transitional arrangements.

Key amendments to the articles of association include removing all references to the supervisory board and adjusting the voting and oversight mechanisms accordingly. For instance, the audit committee will now handle responsibilities such as initiating temporary shareholder meetings and reviewing financial reports, previously held by the supervisory board.

The extraordinary general meeting will also address the election of two independent directors, for which cumulative voting will be used. Shareholders are invited to attend the meeting in person or via online voting. These changes will take effect upon approval by shareholders and subsequent registration with regulatory authorities.