Concord Healthcare Group Co., Ltd. (2453) reported that its board of directors has approved a proposal to abolish the Supervisory Committee, transferring these supervisory duties to the Board’s Audit Committee. The board believes that this change aligns with updated legal and regulatory requirements, including those imposed by the Company Law of the People’s Republic of China and relevant guidelines.
Alongside this structural change, the company intends to amend articles in its Articles of Association, as well as make corresponding revisions to the Procedural Rules for Shareholders’ Meetings and the Procedural Rules for Meetings of the Board. Key refinements include clarifying responsibilities that are to be shifted from the Supervisory Committee to the Audit Committee and standardizing references within these governing documents.
The proposed amendments must be approved by shareholders at an upcoming Shareholders’ Meeting. Following that approval and completion of all required business registration updates, Concord Healthcare Group states that the updated versions of its Articles of Association and procedural rules will be published on the company’s website and on the website of The Stock Exchange of Hong Kong Limited.
The board asserts that these measures serve the interests of both the company and its shareholders, noting that further details on the amendments are provided in separate appendices to the announcement. The effective date of all discussed changes will be confirmed once formal approval processes are complete.
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