Jiangsu Expressway Company Limited (Stock Code: 00177) stated that its board of directors held the sixteenth meeting of the eleventh session on 29 October 2025, at which a resolution was passed to abolish the supervisory committee. This move aligns with recent legal requirements, including the new Company Law of the People’s Republic of China, and aims to further strengthen corporate governance.

According to the announcement, once this resolution is approved at the general meeting, the supervisory committee will no longer be established, and the relevant supervisors will be relieved of their positions. The functions originally entrusted to the supervisory committee will be transferred to the audit committee of the board of directors. Concurrently, Jiangsu Expressway Company Limited will comprehensively update its Articles of Association to reflect these structural changes, including references to supervisors and the supervisory committee being replaced by the audit committee. The announcement clarifies that until the general meeting formally approves these amendments, the existing supervisory committee will continue to fulfill its responsibilities.

A detailed comparison of the revised provisions in the Articles of Association was provided in the appendix of the announcement. The company emphasized that these changes are drafted in compliance with applicable laws and regulations and aim to further optimize its governance structure. According to the announcement, upon successful passage of the resolution, all references to the supervisory committee or its related rules will be officially repealed.