On November 13, CHINA RE announced that, in accordance with the Company Law and other regulatory requirements, and based on the company's actual situation, its Board of Supervisors has approved the removal of the supervisor role. The Audit Committee of the Board of Directors will assume the responsibilities previously held by the Board of Supervisors under the Company Law and other relevant regulations.
The specialized committees under the Board of Supervisors will also be dissolved. Current members of the Board of Supervisors will no longer hold their positions or related roles. Additionally, governance documents such as the "Rules of Procedure for the Board of Supervisors of CHINA RE (Group) Corporation" will be repealed.