Zhejiang Supor overhauls governance, appoints founder as honorary chairman

Zhejiang Supor is undertaking substantial revisions to its governance framework, according to its latest board resolutions. These include amendments to the company’s Articles of Association, Shareholder Meeting Rules, Board of Directors Meeting Rules, Audit Committee Work Rules, Remuneration and Assessment Committee Work Rules, and Independent Director Work System. New management systems for external guarantees, external investments, related party transactions, and a departure management system for directors and senior management have also been introduced.

Notably, Mr. Su Xianze, a company founder, has been appointed honorary chairman for the same term as the eighth board of directors. This advisory role focuses on strategic development and major decision-making, without the typical powers or obligations of a director.

These changes follow a share capital reduction due to the repurchase and cancellation of 173,787 restricted shares, decreasing the total share capital to 801,185,946 shares. Additionally, the company projects related party transactions with SEB Group totaling RMB736,000.00 for 2026. These comprehensive updates aim to enhance corporate governance and operational efficiency.