Shenzhen Han’s CNC Technology Co., Ltd. announced a draft of its Articles of Association, outlining comprehensive guidelines on its share structure, governance arrangements, and corporate operations. According to the document, the Company—established as a joint stock company—details a registered capital formed by an initial 359.1 million shares. It subsequently completed a public issue of 42 million shares before listing on the ChiNext Market in February 2022.
The draft describes procedures for share issuance, allotment, and transfer, emphasizing that shares issued under different categories must follow uniform principles of openness and fairness. It further stipulates provisions for capital increases and repurchases, governed by the Company Law and overseen by the Board of Directors or shareholders’ meetings. Shareholders’ rights and obligations are specifically clarified, including the voting processes at shareholders’ meetings, which must observe statutory requirements and focus on safeguarding minority interests.
The Board of Directors is composed of nine members, including four independent directors and one employee-representative director. Clear rules govern director elections, term lengths, and meeting procedures to ensure efficient decision-making and protect shareholders’ interests. The document also elaborates on the authority and responsibilities of the general manager, deputy general managers, and other senior management members to maintain transparent governance standards.
Additionally, the draft sets out the Company’s accounting and auditing systems, covering balance sheet preparation, cash dividend distribution procedures, and profit allocations. An internal auditing mechanism is defined for continuous monitoring of risk management and corporate compliance. The text concludes with procedures governing merger, division, dissolution, and liquidation, all of which must strictly follow relevant regulations and ensure fair treatment of creditors and all shareholders. The draft is subject to final approval and official filing in accordance with legal requirements.
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