1. Supervisory Board Dissolution
On May 15, 2025, the company held the 2024 Annual General Meeting, which approved the proposal to dissolve the Supervisory Board. According to the Company Law effective from July 1, 2024, and the transitional arrangements issued by the China Securities Regulatory Commission on December 27, 2024, the company will no longer have a Supervisory Board. The powers of the Supervisory Board will be exercised by the Audit Committee of the Board of Directors, and the Supervisory Board has assisted the company in the dissolution and subsequent handover process.
2. Supervisory Board Meeting Summary
During its existence in 2025, the Supervisory Board held three meetings, all convened and conducted in compliance with legal regulations and the Company’s Articles of Association. The details of the meetings are as follows: