Chapter 1 General Principles
Article 1
To protect the legitimate rights and interests of the company, shareholders, employees, and creditors, and to regulate the organization and behavior of the company, these Articles are formulated in accordance with the Company Law of the People's Republic of China (hereinafter referred to as the "Company Law"), the Securities Law of the People's Republic of China (hereinafter referred to as the "Securities Law"), and other relevant regulations.
Article 2
The company is a joint-stock limited company established in accordance with the Company Law and other relevant regulations (hereinafter referred to as the "Company"). The Company was established by way of sponsorship and is registered with the Wuxi Market Supervision Administration, obtaining a business license for a legal entity with a unified social credit code of 91320200240505438W.
Article 3
The Company was approved by the China Securities Regulatory Commission (CSRC) under document [2016] No. 2862, and issued 50 million ordinary shares of RMB to the public for the first time, listed on the Shenzhen Stock Exchange on January 11, 2017.
Article 4
The registered name of the Company is Wuxi Best Precision Machinery Co., Ltd. The English name of the Company is Wuxi Best Precision Machinery CO., LTD.
Article 5
The Company is located at 777 Building West Road, Wuxi City, 20th Floor (A10).
Article 6
The registered capital of the Company is RMB 502,322,762.
Article 7
The Company is a joint-stock limited company with perpetual existence.
Article 8
The chairman of the board serves as the legal representative of the Company. If the legal representative resigns, it is deemed that they have simultaneously resigned from their position as legal representative. Upon the resignation of the legal representative, the Company shall determine a new legal representative within thirty days from the date of resignation.
Article 9
The legal representative shall bear the legal consequences of civil activities conducted in the name of the Company. Any restrictions on the powers of the legal representative set forth in these Articles or by the shareholders' meeting shall not be asserted against bona fide third parties. If the legal representative causes damage to others while performing their duties, the Company shall bear civil liability. After the Company assumes civil liability, it may seek compensation from the legal representative who is at fault in accordance with the law or these Articles.
Article 10
All assets of the Company are divided into equal shares, and shareholders are liable to the Company only to the extent of their subscribed shares. The Company is liable for its debts with all its assets.
Article 11
These Articles shall take effect from the date of their promulgation and shall serve as a legally binding document regulating the organization and behavior of the Company, as well as the rights and obligations between the Company and its shareholders, and among shareholders. According to these Articles, shareholders may sue other shareholders, and shareholders may sue the Company's directors, general manager, and other senior management personnel. The Company may sue shareholders, directors, general manager, and other senior management personnel.
Article 12
The term "other senior management personnel" in these Articles refers to the vice president, board secretary, and chief financial officer of the Company.
Article 13
The Company shall establish a Communist Party organization and carry out Party activities in accordance with the provisions of the Communist Party of China.
Chapter 2 Business Objectives and Scope
Article 14
The Company's business objective is to create value for customers.