Wuxi Lead Intelligent Equipment Co., Ltd. released its updated Articles of Association, focusing on company objectives, share issuance, governance mechanisms, and internal structure. According to the document, the Company was converted into a joint stock limited company and listed on the ChiNext of the Shenzhen Stock Exchange in 2015, later issuing overseas H shares for listing in Hong Kong, subject to approval by regulatory authorities.
The Articles outline regulations on share offering and transfer, specifying that such activities must comply with relevant Chinese law. Procedures for share repurchases, dividends, merger, and division are also clarified, including the requirement for timely announcements to creditors. The Board retains the power to recommend profit distribution plans, detailing a formal process for financial decision-making and ensuring transparency.
The Board of Directors consists of eight members, with half of them serving as independent directors. Directors must meet the eligibility requirements and follow duties outlined under law, including strict obligations against conflicts of interest. Meanwhile, a Supervisory Committee—with three supervisors, including one employee representative—oversees corporate financial practices and ensures lawful conduct by the Company’s management.
The general manager, deputy general managers, and other senior management members are responsible for day-to-day operations. The Articles stipulate that these officers carry out Board resolutions and adhere to defined reporting duties and limits of authority. The Company’s financial and auditing systems require accurate, timely reports in compliance with applicable regulations, and an accounting firm is appointed annually for independent audits.
The updated Articles also emphasize shareholder rights—covering the voting process, record dates, and meeting procedures—and detail how key matters, including acquisitions, guarantees, and connected transactions, must undergo rigorous evaluation and approval. Any intended changes to capital structure, as well as major asset transactions or corporate reorganizations, require clear disclosures and necessary filings with authorities.
Overall, the revised Articles establish an internal framework where transparency, accountability, and compliance take precedence, reflecting ongoing efforts to align Wuxi Lead Intelligent Equipment’s corporate governance with regulatory requirements and shareholder interests.
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