Chongqing Iron & Steel Company Limited held its twentieth meeting of the tenth session of the board of directors on 30 October 2025, approving key modifications to the company’s Articles of Association and related appendices, as well as the abolition of its supervisory committee. These measures aim to align corporate governance with newly enacted laws and regulations.

The revisions respond to recent regulatory changes, including the repeal of the Special Regulations and Mandatory Provisions for overseas-listed companies, updated listing rules in Hong Kong, and the official launch of the revised Company Law on 1 July 2024. Under the new framework, holders of A shares and H shares of the company are no longer considered separate classes of shareholders; therefore, associated class meeting provisions will be removed.

Key amendments include clarification of legal representative powers, updates to registered capital and share capital following the cancellation of repurchased shares, deletion of outdated references, streamlining of rules on general meetings, and the incorporation of requirements for independent directors. The entire chapter on the supervisory committee will be removed, with oversight responsibilities shifting to the audit and risk committee. Additional sections involve updates on party building efforts, internal audit mechanisms, and employee representative rules.

These proposed amendments will be submitted for shareholder consideration at the upcoming general meeting. Changes specific to former A share and H share class meeting provisions will also be presented at the respective class meetings. The board emphasizes that establishing an audit and risk committee to assume supervisory functions will ensure compliance with relevant policies and further enhance corporate governance standards.