Beijing Zhidemai board approves governance changes, D&O insurance

Beijing Zhidemai Technology's board of directors approved substantial corporate governance changes, highlighted by the elimination of the supervisory board and the transfer of its functions to the board's audit committee. This decision, along with numerous revisions to the company's articles of association and other governance policies, aims to align with updated laws and regulations. These changes, including modifications to rules governing shareholder meetings, board operations, and various internal controls, are subject to shareholder approval at the second extraordinary general meeting on December 8, 2025.

The board also approved the purchase of directors' and officers' liability insurance, with an annual premium not exceeding yuan192,000 and a coverage limit of yuan50,000,000 for a 12-month term. This move is designed to enhance risk management and protect the interests of directors, senior management, and investors. Additionally, the audit committee’s composition was adjusted, with Liu Feng, deputy general manager, being replaced by Qu Kai, an independent director, ensuring compliance with regulatory requirements.