Chapter 1 General Principles
Article 1
To further improve the assessment and compensation management system for the directors (excluding independent directors) and senior management of Hubei Ping An Electric Technology Co., Ltd. (hereinafter referred to as "the Company"), and to enhance the corporate governance structure, these rules are formulated in accordance with the Company Law of the People's Republic of China, the Securities Law of the People's Republic of China, the Guidelines for the Governance of Listed Companies, the Measures for the Administration of Independent Directors of Listed Companies, the Self-Regulatory Guidelines for Listed Companies on the Shenzhen Stock Exchange No. 1 - Standard Operations for Main Board Listed Companies, the Articles of Association of Hubei Ping An Electric Technology Co., Ltd. (hereinafter referred to as "the Articles of Association"), and the Rules of Procedure for Board Meetings of Hubei Ping An Electric Technology Co., Ltd. and other relevant normative documents.
Article 2
The Compensation and Assessment Committee is a specialized working body established under the Board of Directors, primarily responsible for formulating assessment standards for the Company’s directors and senior management and conducting assessments; responsible for formulating and reviewing the compensation policies and plans for the Company’s directors and senior management, and reporting to the Board of Directors.
Article 3
In this system, "directors" refer to those directors who receive compensation from the Company, and "senior management" refers to the general manager, deputy general managers, financial director, board secretary, and other management personnel recognized by the Board of Directors upon the recommendation of the general manager.