COFCO Biotechnology to abolish supervisory board, amend articles

COFCO Biotechnology, through resolutions passed by its Ninth Board of Directors and Ninth Supervisory Board on November 28, 2025, has approved the abolition of its supervisory board and amendments to its Articles of Association. This decision, which still requires shareholder approval at the upcoming Fifth Extraordinary General Meeting in 2025, aligns the company with the latest revisions to the "Company Law of the People's Republic of China," the "Shenzhen Stock Exchange Stock Listing Rules," and other relevant regulations.

The supervisory board's functions will be transferred to the board of directors' audit committee, ensuring the company's internal oversight mechanisms remain effective. Consequently, all supervisory board-related rules and regulations, including the "Supervisory Board Rules of Procedure," will be repealed.

The amendments to the Articles of Association include various changes, such as the renumbering of certain articles and the update of specific provisions to reflect the new corporate governance structure. For instance, the company's "Operating Principles and Scope" and "Share Capital" sections have been revised, and new articles have been introduced to detail the responsibilities of the audit committee.