Eastsoft overhauls governance, abolishes board of supervisors

Qingdao Eastsoft Communication Technology announced a comprehensive update to its corporate governance, including revising its Articles of Association and abolishing the Board of Supervisors. This decision, approved by the board of directors and the board of supervisors on December 1, 2025, will see the audit committee assume the responsibilities previously held by the Board of Supervisors. Shareholders are scheduled to vote on these changes at the Third Extraordinary General Meeting on December 18, 2025.

In conjunction with these governance enhancements, Eastsoft is updating several key internal policies. These include the "System for preventing occupation of company funds by controlling shareholders and related parties," "External Guarantee Decision-Making System," "Major Operating and Investment Decision-Making System," and "Systems for the Appointment and Dismissal of Accounting Firms." These revisions aim to strengthen internal controls and ensure compliance with the latest regulations, aligning with the company's commitment to robust governance.

The company also announced the resignation of Mr. Shang Yang as a non-independent director and member of the audit committee due to job relocation. Ms. Guan Jianmei has been nominated as a non-independent director, with her term effective upon shareholder approval. Her appointment maintains compliance with board composition requirements and ensures the audit committee continues to operate effectively.