On September 30, New China Life Insurance Company Ltd. announced that to implement the requirements of the Company Law of the People's Republic of China and supervisory board reform, and to further optimize corporate governance, the company plans to revise the Articles of Association of New China Life Insurance Company Ltd.

The revision is based on relevant laws, regulations, and supervisory provisions including the Company Law of the People's Republic of China, the China Securities Regulatory Commission's Guidelines for Articles of Association of Listed Companies, and the National Financial Regulatory Administration's Notice on Matters Concerning the Connection Between Corporate Governance Regulatory Provisions and the Company Law, combined with the company's corporate governance practices.

New China Life Insurance Company Ltd. stated that the "Proposal on Revising the Articles of Association and Abolishing the Supervisory Board" is pending submission to the shareholders' meeting for consideration as a special resolution. The newly revised Articles of Association, after approval by the shareholders' meeting, must be submitted to the National Financial Regulatory Administration for approval before taking effect. At that time, the company will no longer establish a supervisory board, existing supervisors will simultaneously retire from their positions, and the company's Rules of Procedure for the Supervisory Board will be simultaneously abolished.