Wuhan Dazhong Dental Medical Co., Ltd. outlined multiple provisions in its newly disclosed Articles of Association. The company, established as a joint stock limited company in the People’s Republic of China, has a registered capital of RMB49,379,042 and is domiciled in Wuchang District, Wuhan. The Articles specify that the company completed filing with the China Securities Regulatory Commission on June 11, 2025, followed by an initial issuance of 10,861,800 H shares listed on the Main Board of The Stock Exchange of Hong Kong Limited on July 9, 2025.
The Articles of Association detail the company's business scope, including stomatology and related medical services. They also outline the procedures for share issuance, transfer, buyback, and shareholders’ rights. Comprehensive sections specify requirements for convening and holding shareholders’ meetings, the election and duties of directors, appointment of senior management, and financial accounting standards. The Board of Directors, composed of seven directors including independent directors, retains authority over key corporate matters. An audit committee assumes oversight functions, including review of financial reports and supervision of internal audit.
Additionally, the document clarifies rules on profit distribution, specifying that 10% of after-tax profit is set aside for statutory reserve until it reaches 50% of the company’s registered capital. Provisions cover potential mergers, divisions, and capital adjustments, emphasizing procedures for creditor notifications and asset allocation methods. Finally, guidelines for dissolution and liquidation are included, defining liquidation committee responsibilities and creditor safeguards.
This announcement underscores the roles and responsibilities within Wuhan Dazhong Dental Medical Co., Ltd.'s governance structure, aiming to ensure compliance with domestic and international regulatory requirements, including those of the Hong Kong Listing Rules.