Harbin Electric Proposes Governance Overhaul: Plans to Abolish Supervisory Committee and Revise Articles of Association

Bulletin Express03-26

Harbin Electric Company Limited announced a comprehensive governance reform that would eliminate its Supervisory Committee and transfer the committee’s statutory oversight duties to the Board’s Audit Committee.

The Board has drafted extensive amendments to the company’s Articles of Association to: 1. Align with the latest provisions of the PRC Company Law and other applicable regulations. 2. Reflect the repeal of the “Mandatory Provisions for Articles of Association of Companies Listing Overseas.” 3. Incorporate Hong Kong Stock Exchange rule changes, including the expanded paper-less listing regime, enhanced core shareholder-protection standards in Appendix A1, and optimizations to the Corporate Governance Code in Appendix C1.

Implementation of the proposed changes is contingent on shareholder approval by special resolution at the upcoming Annual General Meeting. A circular outlining the full text of the amendments and rationale, together with the AGM notice, will be dispatched in due course.

If approved, the Audit Committee will formally assume all supervisory functions currently held by the Supervisory Committee once the revisions take effect. The Board believes the restructuring will streamline oversight and bring corporate governance practices in line with evolving regulatory standards.

The announcement was issued from Harbin on 26 March 2026 and signed by Company Secretary Ai Li-song.

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