Sangfor Technologies adjusts capital, board structure

Sangfor Technologies Co., Ltd. (SZSE: 300454) announced changes to its registered capital, company type, and a revision of its Articles of Association, following a board meeting on December 9, 2025. The company's registered capital will decrease from RMB 421,883,707 to RMB 420,627,992, reflecting the cancellation of 1,255,715 repurchased shares. Additionally, the company type will change from "Joint Stock Limited Company (Hong Kong, Macao, and Domestic joint venture, listed)" to "Other Limited Company (listed)."

To optimize its governance structure, Sangfor Technologies will expand its board of directors from seven to eight members, adding one non-independent director. Xiao Liye has been nominated to fill this new non-independent director position, with a term from the second extraordinary general meeting of shareholders in 2025 until the end of the third board term. This adjustment ensures that the number of directors concurrently holding senior management positions does not exceed half of the total board members.

The proposed changes to the Articles of Association and other related matters are subject to approval at an upcoming general meeting of shareholders and final registration with market supervision authorities. These revisions aim to enhance the company’s decision-making mechanisms and ensure compliance with relevant laws and regulations.