Beijing Enlight Media to update governance, expand business scope

Beijing Enlight Media has approved significant updates to its corporate governance documents, including the "Management system for significant operational and investment decisions," "Information Disclosure Management System," and "Rules for managing transactions with related parties." These revisions aim to align with the new Company Law and other regulatory requirements, enhancing transparency and operational efficiency. A key change involves the proposed abolition of the Supervisory Board, with its functions to be assumed by the Audit Committee, pending shareholder approval. The company’s business scope is also set to expand, incorporating additional services like catering and internet information services.

The updated management system for significant operational and investment decisions details new thresholds for transactions requiring shareholder or board approval. For instance, transactions involving assets over 50% of the latest audited total assets or with transaction values exceeding 50,000,000 yuan must be approved by shareholders. Related party transactions also have specific approval tiers, with those involving natural persons over 300,000 yuan or legal persons over 3,000,000 yuan requiring independent director and board review.

Shareholders will convene on December 25, 2025, for the Second Extraordinary General Meeting to vote on these proposals. The agenda includes the revised Articles of Association and various governance policies. The company emphasizes that these changes reflect its commitment to robust corporate governance and sustainable development.