The Company established a remuneration committee on 26 April 2008. The Company has revised the written terms of reference of the committee with reference to the CG Code, as set out in Appendix 14 to the Hong Kong Listing Rules. From the beginning of the Reporting Period to 3 December 2019, the Remuneration Committee consisted of three members, namely Mr. Liu Jun, an independent non-executive Director, Mr. Guo Huaping, an independent non-executive Director, Ms. Deng Zhaonan, an executive Director. From 3 December 2019 to the end of the Reporting Period, Mr. Guo Huaping resigned from his posts of independent non-executive director, chairman of the Audit Committee and member of the Remuneration Committee. The Remuneration Committee consists of two members, namely Mr. Liu Jun and Ms. Deng Zhaonan. Mr. Liu Jun (an independent non-executive Director) as the chairman of the Remuneration Committee. After Mr. Guo Huaping resigned, the structure of the Remuneration Committee failed to meet the requirement of Article 3.25 of the Listing Rules, that is, most members of the Remuneration Committee must be independent non-executive Directors, and the requirement of Article 4 of the Terms of Reference of the Remuneration Committee, that is, the Remuneration Committee must consist of three Directors, among which at least two members are independent non-executive Directors. At the shareholders’ meeting held on 24 March 2020, Ms. Xu Yixin, the new independent non-executive Director, was appointed as the chairman of the Remuneration Committee, Ms. Yang Juanjuan, the new non-executive director and Mr. Xu Guanghua, the new independent non-executive Director were elected as members of the Remuneration Committee. The structure of the Remuneration Committee complies with Article 3.25 of the Listing Rules and Article 4 of the Terms of Reference of the Remuneration Committee. The primary duties of the Remuneration Committee include: (i) reviewing and making recommendations to the Board regarding remuneration policies for Directors and senior management; and (ii) supervising the implementation of remuneration policies.
Chairman： Xu Yixin
Committee member：Luo Rong、Xu Guanghua
