Bank of Qingdao (3866) has obtained the Qingdao Bureau of National Financial Regulatory Administration’s approval for its amended Articles of Association. Following this regulatory endorsement, the bank’s “Strategy Committee of the Board of Directors” will be renamed the “Strategy and Sustainability Committee of the Board of Directors,” effective from the date of approval.

With the revised Articles of Association now in force, Bank of Qingdao will dissolve its Board of Supervisors. The audit committee of the Board is authorized to assume supervisory functions mandated by relevant regulations, and all supervisors on the Board of Supervisors will no longer hold their previous positions. According to the announcement, these individuals do not hold shares in the bank and have confirmed there are no outstanding matters to bring to shareholders’ or creditors’ attention. Bank of Qingdao expressed gratitude for the supervisors’ contributions during their time on the Board of Supervisors.