Chapter 1 General Provisions
Article 1 Zhejiang Supor Co., Ltd. (hereinafter referred to as the "Company") strengthens the management of its subsidiaries, protects the legitimate rights and interests of the Company and investors, and ensures the standardized, efficient, and orderly operation of its subsidiaries. In accordance with the "Company Law of the People's Republic of China" (hereinafter referred to as the "Company Law"), the "Securities Law of the People's Republic of China" (hereinafter referred to as the "Securities Law"), the "Main Board Listing Rules of the Shenzhen Stock Exchange," the "Shenzhen Stock Exchange Listed Company Self-Regulatory Supervision Guidelines No. 1 - Standardized Operation of Main Board Listed Companies," and other laws, regulations, normative documents, and the "Articles of Association of Zhejiang Supor Co., Ltd." (hereinafter referred to as the "Articles of Association"), and in combination with the Company's actual situation, this system is hereby formulated.
Article 2 Subsidiaries referred to in this system are limited liability companies or joint stock limited companies/other organizations legally established by Zhejiang Supor Co., Ltd. based on business development needs, possessing independent legal person status, including: (1) Wholly-owned subsidiaries, which are subsidiaries/other organizations in which the Company directly or indirectly invests and holds a 100% equity interest. (2) Controlling subsidiaries, which are subsidiaries/other organizations in which the Company holds more than 50% of the equity, or holds less than 50% but can determine the composition of more than half of the board of directors, or can actually control through agreements or other arrangements; including controlling subsidiaries of wholly-owned subsidiaries, wholly-owned subsidiaries of controlling subsidiaries, and controlling subsidiaries.