LUZHOU BANK recently released an updated version of its Articles of Association, containing 18 chapters that systematically outline its governance framework, registered capital, business objectives, scope of operations, and procedures for shareholders’ meetings and the Board of Directors. The document highlights that the Bank is a joint stock limited company with a registered capital of RMB2,717,752,062, divided into domestic and H Shares.
The revised Articles address various corporate structures and processes. They stipulate that the Bank’s governing bodies include the shareholders’ meeting as the highest authority, the Board of Directors with 9 to 15 members, and a CPC organization responsible for leadership and supervisory responsibilities. At the management level, positions of president, vice presidents, and other senior managers are covered, ensuring clear lines of authority and decision-making.
Detailed provisions for shares and capital management include issuance, repurchase, and transfer protocols, as well as guidelines for financial assistance and shareholder obligations. The Bank emphasizes adherence to established regulations when handling major transactions such as external guarantees, non-performing asset disposals, and equity investments.
Risk management and internal control are also underscored. Specialized committees under the Board—covering areas such as audit, related-party transactions control, risk management, and nomination and remuneration—are charged with upholding best practices and ensuring the Bank’s assets, financial reporting, and compliance standards remain robust.
In terms of profit distribution, the Articles set requirements for statutory reserves and define approaches for dividend allocation in both cash and share form. Provisions on corporate governance, qualifications for directors, and audit mechanisms reflect a commitment to transparency and accountability, with regular financial reporting deadlines stipulated. The updated Articles take effect upon approval from relevant regulatory authorities, serving as the governing charter for the Bank’s future operations and governance.