Regulations on the Implementation of the Cumulative Voting System of Zhaozhi Co., Ltd.
(Reviewed and approved by the 8th Board of Directors, 15th Meeting of Zhaozhi Co., Ltd., effective upon approval by the Shareholders' Meeting)
Chapter 1 General Provisions
Article 1 To regulate the corporate governance structure of the Company, standardize the Company's director election process, and in accordance with the "Corporate Governance Guidelines for Listed Companies," the "Shenzhen Stock Exchange Stock Listing Rules," and the "Articles of Association," these Implementation Rules are hereby formulated.
Article 2 Directors referred to in these Implementation Rules include independent directors and non-independent directors, but exclude directors who are employee representatives. Directors who are employee representatives are elected or replaced through democratic elections by the Company's employees and are not subject to the relevant provisions of these Implementation Rules.
Article 3 Cumulative voting system as referred to in these Implementation Rules means that when the Company's shareholders' meeting elects directors, the voting rights held by shareholders attending the shareholders' meeting shall be equal to the product of the total number of shares held by the shareholder and the number of directors to be elected at the shareholders' meeting. Shareholders attending the meeting may cast all their voting rights for one director candidate, or distribute their voting rights among multiple director candidates. The election of directors shall be determined by the number of votes received in descending order.