Chapter 1 General Principles
Article 1
To standardize the departure procedures for directors and senior management of Beijing Weitongli Electric Co., Ltd. (hereinafter referred to as "the Company"), ensure the continuity and stability of the corporate governance structure, and protect the legitimate rights and interests of the Company and all shareholders, this system is formulated in accordance with the Company Law of the People's Republic of China (hereinafter referred to as "Company Law"), the Securities Law of the People's Republic of China (hereinafter referred to as "Securities Law"), the Guidelines for the Governance of Listed Companies, the Shenzhen Stock Exchange Listing Rules, the Management Rules for Shares Held by Directors and Senior Management of Listed Companies and their Changes, and other relevant laws, regulations, normative documents, and the Articles of Association of Beijing Weitongli Electric Co., Ltd. (hereinafter referred to as "Articles of Association"), combined with the actual situation of the Company.
Article 2
This system applies to the departure of directors and senior management due to the expiration of their term, resignation, dismissal, or other reasons.
Chapter 2 Departure Circumstances and Procedures
Article 3
Directors may resign before the expiration of their term. A director's resignation shall be effective upon the Company's receipt of a written resignation report. The Company shall disclose relevant information within two trading days.
Article 4
Senior management may also resign before the expiration of their term. The specific procedures and methods for the resignation of senior management shall be stipulated in the labor contract between them and the Company. If circumstances arise that require the dismissal of senior management as stipulated by laws, administrative regulations, departmental rules, or the Articles of Association, the Company shall dismiss them in accordance with regulations.
Article 5
Except for the circumstances specified in Article 9 of this system, in the following situations, the original directors shall continue to perform their duties in accordance with relevant laws, regulations, other provisions of the Shenzhen Stock Exchange, and the Articles of Association until the newly elected directors assume office:
- The term of a director has expired without timely re-election, or a director resigns during their term, resulting in the number of board members falling below the legal minimum;
- The resignation of a member of the audit committee results in the number of audit committee members falling below the legal minimum or lacking accounting professionals;
- The resignation of an independent director results in the proportion of independent directors on the board or its specialized committees not complying with legal regulations or the Articles of Association, or lacking accounting professionals among independent directors.
Article 6
If a director resigns, the listed company shall complete the supplementary election within sixty days from the date of resignation to ensure that the composition of the board and its specialized committees complies with legal regulations and the Articles of Association.
Article 7
The shareholders' meeting may resolve to dismiss a director, and the dismissal shall take effect on the date of the resolution. Without just cause, if a director is dismissed before the expiration of their term, the director may request compensation from the Company. If a director's term expires without re-election, they shall automatically depart from the Company on the date the shareholders' meeting resolution is passed.
Article 8
If the chairman, who is the legal representative, resigns, it is deemed