000559SZSE

Compensation Management System for Directors and Senior Management of Wanxiang Qianchao Co., Ltd. (April 2026)

WANXIANG QIANCHAO CO.,LTD.·

✨ AI Summary

The purpose of this document is to establish a compensation management system for directors and senior management at Wanxiang Qianchao Co., Ltd. It outlines the principles for determining compensation based on company performance and responsibilities. Key figures include annual salary structures and performance-based incentives, while material outcomes involve the establishment of a fair and motivating compensation framework linked to company performance.

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Full Translation

AI Translation· azure_openai

Chapter 1 General Principles

Article 1

To standardize the compensation management for directors and senior management (hereinafter referred to as "executives") of Wanxiang Qianchao Co., Ltd. (hereinafter referred to as "the Company"), establish a comprehensive incentive and restraint mechanism, align individual compensation with company performance, and enhance operational efficiency and management standards, this management system is formulated in accordance with the "Company Law of the People's Republic of China," "Code of Corporate Governance for Listed Companies," and other relevant laws, regulations, normative documents, and the "Articles of Association," combined with the actual situation of the Company.

Article 2

This system applies to:

  1. Directors responsible for the Company's management/operational indicators.
  2. Senior management including the General Manager, Deputy General Managers, Financial Officer, and Secretary of the Board.
  3. Independent directors receiving a service allowance.

Article 3

The compensation for the Company's directors and senior management is based on the scale and performance of the Company, determined through comprehensive assessment according to the Company's operational plans and the responsibilities and objectives of their respective roles.

Article 4

The principles for the compensation and performance assessment of the Company's directors and senior management are:

  1. Adhering to the principle of combining labor distribution with responsibilities, rights, and benefits.
  2. Prioritizing performance, reflecting the value concept of profit sharing and risk sharing.
  3. Ensuring overall compensation levels consider internal and external fairness and are commensurate with the Company's scale.

Chapter 2 Management Institutions

Article 5

The Company's Board of Directors Nomination and Compensation Committee is the management body for assessing and determining the compensation of directors and senior management.

Article 6

The responsibilities and authorities of the Nomination and Compensation Committee refer to the "Working Rules of the Board of Directors Nomination and Compensation Committee."

Article 7

The Company's Human Resources and Financial Management Departments are responsible for the specific implementation of the compensation plan.

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