Guoguang Electric Power Co., Ltd.
System for the Assessment of Remuneration for Directors and Senior Management
Chapter 1 General Provisions
Article 1 To ensure that the company's directors and senior management perform their duties in accordance with the law, establish a scientific and effective incentive and restraint mechanism, and improve the company's remuneration and assessment management system, further clarify matters related to the remuneration and assessment of directors and senior management, and promote the healthy, sustainable, and stable development of the company, the Board of Directors hereby formulates this system.
Article 2 The scope of application of this system: (1) Persons serving as directors of the company; (2) Senior management personnel of the company, including the President, Vice Presidents, Secretary of the Board of Directors, and Chief Financial Officer, etc.
Article 3 Principles for the remuneration and performance assessment of the company's directors and senior management: (1) The principle of open, fair, and transparent remuneration standards; (2) The principle of matching remuneration with the annual performance assessment; (3) The principle of combining remuneration with the company's actual operating conditions; (4) The principle of combining remuneration with power, responsibility, and benefits; (5) The principle of balancing incentives and constraints.
Article 4 The relevant remuneration assessment body of the company may adjust the remuneration of directors and senior management according to the following circumstances, with the basis for adjustment including: (1) Remuneration levels in the same industry; (2) Remuneration levels in the region; (3) Inflation levels; (4) The company's actual operating conditions; (5) Adjustment of organizational structure, changes in position, and responsibilities.