JOINN Laboratories (China) Co., Ltd. (6127) released an announcement detailing proposed revisions to its Articles of Association and Rules of Procedures for the General Meeting of Shareholders. The principal objectives include aligning with updates to the Company Law of the People’s Republic of China that will take effect on July 1, 2024, removing the supervisory committee, and adjusting board designations to reflect an enhanced role for the audit committee in oversight and governance.

According to the announcement, the proposed amendments address changes such as revising the composition and responsibilities of the board of directors, updating share repurchase guidelines, and detailing new procedures for convening and voting at general meetings of shareholders. Additionally, the supervisory committee’s duties would be replaced by an audit committee. The Board stated that the modifications are subject to approval at the second extraordinary general meeting of the Company of 2025, and the relevant documents will be delivered to shareholders prior to the meeting for their consideration. The Board considers that these adjustments could help ensure regulatory compliance and strengthen the Company’s corporate governance once officially approved.