Ganfeng Lithium Proposes Governance-Focused Amendments to Articles of Association

Ganfeng Lithium Group Co., Ltd. (HK: 01772) has released a proposal to revise multiple clauses of its Articles of Association in order to align with the latest requirements of China’s Company Law, the Shenzhen Stock Exchange Listing Rules, and other regulatory guidelines.

Key amendments:

1. Corporate Duration • Clarifies that the company, already defined as a company limited by shares in perpetuity, now explicitly states its operating term as “indefinite.”

2. Expanded Role of the Board Secretary • Article 142 and Article 143 now detail comprehensive responsibilities, including information disclosure, periodic and interim report coordination, investor relations, insider-information management, and support for independent directors. • The secretary gains explicit authority to attend senior management meetings, access operational data, and propose corrective measures to the Board where governance gaps are identified.

3. Restrictions on Concurrent Positions • Under the revised Article 144, the board secretary cannot simultaneously serve as president, vice-president in charge of operations, or chief financial officer. Where the secretary holds additional roles, duties must be clearly segregated to ensure independence and adequate time allocation. • Directors, senior executives, and departments are required to cooperate fully with the secretary’s duties, prohibiting any obstruction or interference.

4. Profit Distribution Policy Clarification • Article 177 refines the cash-dividend commitment: cumulative cash distributions over three years must be at least 30% of the average annual distributable profit for the same period, explicitly excluding undistributed profits carried forward from previous years.

Next steps:

• The proposed revisions will be presented for shareholder approval via special resolution at an upcoming Extraordinary General Meeting (EGM). • Amendments will take effect upon completion of all necessary regulatory approvals and filings.

Board composition remains unchanged, with Chairman Li Liangbin reiterating the initiative’s objective of strengthening standardized operations and enhancing corporate governance.