Beijing Hualian to overhaul corporate governance, internal management

Beijing Hualian Department Store’s board of directors met on December 9, 2025, to approve several key corporate governance revisions. The company is set to hold a second extraordinary general meeting on December 25, 2025, in Beijing to seek shareholder approval for these changes. A major proposal includes increasing the number of employee directors and amending the company’s articles of association and governance framework.

The board also approved revisions to its external investment management system, asset impairment provisions, external guarantees, related party transaction management, related party fund flows, and management of directors' and senior executives' shareholdings. These updates aim to enhance legal compliance, strengthen internal oversight, and mitigate financial risks, reflecting the company’s commitment to robust governance in line with the latest regulatory requirements. These updated policies will come into effect upon approval at the upcoming extraordinary general meeting.