Jiangsu Eastern Shenghong overhauls governance and financial regulations

Jiangsu Eastern Shenghong announced a sweeping overhaul of its internal management systems, with 22 new or revised regulations approved by its boards of directors and supervisors. These include systems for managing external financial assistance, preventing funds occupation by controlling shareholders and other related parties, and external investments. The revisions aim to enhance governance, control financial risks, and ensure compliance.

Key changes involve stricter controls over external financial assistance, with specific thresholds for board and shareholder approval, and clearer guidelines for related-party transactions to prevent misuse of company funds. The company will no longer set up a board of supervisors, with its duties being transferred to the board of directors' audit committee.

Other significant updates include new policies for managing asset impairment provisions, internal control over financial reporting, and investor relations. The company will hold its second extraordinary general meeting on December 22, 2025, to seek shareholder approval for these proposals.