Chapter 1 General Principles
Article 1
To further improve the compensation management for directors and senior management of Zhejiang Yingtai Group Co., Ltd. (hereinafter referred to as "the Company"), establish a sound incentive and restraint mechanism, enhance corporate governance, and promote sustainable, healthy, and high-quality development, this system is formulated in accordance with the Company Law of the People's Republic of China, the Guidelines for Corporate Governance of Listed Companies, and other relevant laws, regulations, normative documents, and the supervision rules of state-owned asset management agencies, as well as the provisions of the Articles of Association of Zhejiang Yingtai Group Co., Ltd. (hereinafter referred to as "the Articles of Association"), combined with the actual situation of the Company.
Article 2
This system applies to the directors and senior management of the Company. Directors are categorized based on their identity and work nature into internal directors, external non-independent directors, and independent directors. Internal directors are those who are employees of the Company; external non-independent directors are those who are not employees of the Company; independent directors are those elected according to the Management Measures for Independent Directors of Listed Companies and other relevant systems. Senior management refers to the general manager, deputy general managers, financial officer, board secretary, and other personnel recognized as senior management according to the Articles of Association. The party secretary, deputy party secretary, and discipline inspection secretary shall follow the compensation management for senior management.
Article 3
The compensation management for the Company's directors and senior management follows these principles:
- Strategic Orientation Principle: Compensation levels align with the company's development strategy, operational performance, and market value, supporting long-term sustainable development.
- Market Competitiveness Principle: A compensation system with market competitiveness is established based on industry standards and regional compensation conditions to attract and motivate outstanding talent.
- Balance of Incentives and Constraints Principle: Compensation is determined based on job value, responsibilities, and performance, creating a mechanism that links incentives and constraints to achieve a balance of rights, responsibilities, and benefits.
- Fairness and Transparency Principle: Strict compliance with laws, regulations, and supervisory requirements, standardizing management standards and decision-making processes, ensuring fairness and equity, and properly disclosing information according to regulations.