Deepexi Technology Co., Ltd. (“Company”) has approved and published its latest Articles of Association during the second extraordinary shareholders’ meeting of 2025. The newly released document systematically clarifies key areas such as share issuance, the rights and obligations of shareholders, the responsibilities of the Board of Directors, and regulations on profit distribution and liquidation.
The revised Articles highlight the Company’s capital structure, specifying the classification and issuance of domestic shares versus overseas listed foreign shares. It outlines measures for increasing or reducing capital, transferring shares, and potential share repurchases under legally permissible circumstances. The document also details the procedure for convening and voting at shareholders’ meetings, emphasizing that resolutions related to material transactions, including mergers, divisions, and changes in corporate form, require careful review and approval thresholds.
In a notable structural change, the Articles confirm that an Audit Committee instead of a board of supervisors is charged with financial oversight, supervising directors and senior management, and protecting shareholders’ interests. The text articulates requirements for independent non-executive directors, including their duties and special powers, and sets governance standards for the Board of Directors and management, covering the fiduciary responsibilities and criteria for assuming office.
The Articles further standardize financial guidelines such as forming reserve funds and distributing after-tax profits. It specifies the priorities for making up losses and allocating reserves ahead of any shareholder distributions, while also delineating requisite procedures for mergers, divisions, or dissolution. In cases necessitating liquidation, the text outlines steps for auditing assets, notifying creditors, and final distribution of the Company’s property.
According to the document, the new Articles of Association will take effect from the date the board deems appropriate, subject to relevant approvals. The Company confirms that all provisions abide by the Company Law, Securities Law, and other applicable regulations. Interested parties are advised to refer to the full version of the revised document, as officially filed and disclosed, for complete details.