Chapter 1 General Principles
Article 1
To establish a scientific and reasonable compensation management system, fully leverage the incentive and constraint functions of compensation, attract, retain, and motivate core talent, and ensure the sustainable and healthy development of Beijing Weitongli Electric Co., Ltd. (hereinafter referred to as "the Company"), this system is formulated in accordance with the Company Law of the People's Republic of China, the Guidelines for the Governance of Listed Companies, and the Articles of Association of Beijing Weitongli Electric Co., Ltd. (hereinafter referred to as "the Articles").
Article 2
This system applies to:
- Individuals serving as directors of the Company, including independent directors, non-independent directors, and employee directors;
- Senior management personnel of the Company, including the general manager, deputy general managers, board secretary, and financial officer.
Article 3
The basic principles for the compensation management of the Company's directors and senior management personnel are:
- Legality Principle: Strictly comply with national laws and regulations and the regulatory requirements for listed companies to ensure that compensation management is compliant and orderly;
- Performance Orientation Principle: Strengthen the linkage between compensation and the Company's development strategy and operational performance, aligning with both company and individual performance;
- Fairness and Justice Principle: Compensation distribution considers job value, performance, and employee contributions, ensuring internal fairness and external competitiveness;
- Sustainable Development Principle: The total amount of compensation is linked to the Company's operational effectiveness, ensuring the rationality and sustainability of compensation expenditures.