Shenzhen SEG board approves updated articles of association

Shenzhen SEG Company Limited's updated Articles of Association, approved by shareholders on November 27, 2025, codify the company’s governance framework. The company, established in 1996 and listed on the Shenzhen Stock Exchange, has a registered capital of 1,231,200,672 yuan. The amendments clarify rules for capital changes, share buybacks, and transfer restrictions for directors and senior management, who are limited to transferring 25% of their shares annually during their tenure.

Key provisions include updated requirements for shareholder meetings, proposal submissions, and voting procedures. The company’s dividend policy prioritizes cash distribution, aiming for at least 10% of annual distributable profits, and 30% over a three-year cycle, while balancing reinvestment needs. Transaction thresholds for shareholder approval have been set, with major transactions exceeding 50% of audited total assets or 50,000,000 yuan requiring shareholder consent.

The refreshed document also details the roles of the board of directors, independent directors, and the board secretary, ensuring robust oversight and operational efficiency. Specific criteria for related-party transactions and external guarantees are outlined, enhancing transparency and investor protection.