On the afternoon of November 22, 2019, Luheng Law Firm was invited by the Hengyang State-owned Assets Supervision and Administration Commission (SASAC) to attend the promotion meeting on the "Revision of Articles of Association of Municipal-owned Enterprises" organized by it. Ni Xiaoqiao, Member of the Party Committee and Deputy Director of Hengyang SASAC, all staff of the Development and Reform Section, as well as the leading persons in charge of the revision of the articles of association and the specific staff of 13 municipal-owned enterprises in Hengyang attended the meeting.

Report on Meeting Progress and Issues

At the meeting, the leading persons in charge of each municipal-owned enterprise successively reported on the current progress and major issues of the revision of the articles of association.

On-site Q&A by Luheng Law Firm

Lawyer Huang Xing, Director of Luheng Law Firm, conducted centralized explanations and answered questions regarding the issues raised by each leading person in charge. He also suggested that each municipal-owned enterprise should implement hierarchical governance in terms of the company's operating authority during this revision of the articles of association, and create personalized articles of association that conform to the characteristics of each municipal-owned enterprise.

Work Deployment and Summary

Finally, Ni Xiaoqiao, Deputy Director of Hengyang SASAC, on the basis of affirming the preliminary work of each municipal-owned enterprise, made unified deployment and arrangements for the subsequent work, and required each municipal-owned enterprise to submit the revised draft of the articles of association to the municipal SASAC for centralized approval as soon as possible after the meeting.