Chapter 1 General Principles
Article 1
To establish and improve the internal incentive and restraint mechanisms of Guangdong Guangzhou Daily Media Co., Ltd., standardize the management of senior management personnel's compensation and assessment, and enhance their sense of responsibility and mission for the company's sustainable and healthy development, these measures are formulated based on the Company Law of the People's Republic of China and the Articles of Association of Guangdong Guangzhou Daily Media Co., Ltd., in conjunction with the company's actual situation.
Article 2
The term "senior management personnel" in these measures refers to the chairman, general manager, discipline inspection secretary, deputy general managers, board secretary, financial director, and other personnel deemed applicable by the board of directors and the compensation and assessment committee who are salaried and participate in the company's management.
Article 3
The assessment of the company's operational performance shall adhere to the following principles:
- Encourage strengthening, optimizing, and expanding the company. Establish a ranking mechanism for assessment indicators, combining internal comparisons with industry benchmarks to encourage quality improvement and efficiency enhancement, elevate innovation capabilities, promote the company's transformation and development, enhance competitive advantages, and achieve sustainable development.
- Focus primarily on economic benefits while considering social benefits. Given the unique nature of state-owned cultural enterprises and their social responsibilities, maintain correct public opinion guidance and ensure cultural safety, provide positive and healthy spiritual and cultural products, continuously improve economic benefits, and fulfill social responsibilities to achieve coordinated development of social and economic benefits.
- Adhere to objectivity, fairness, and justice. Set assessment indicators scientifically and reasonably, clarify assessment standards, standardize assessment processes, and objectively and fairly assess the operational performance of senior management personnel.
- Combine incentives with constraints. According to the principle of unity of responsibility, authority, and benefits, improve the incentive and restraint mechanisms for senior management personnel, implementing a combination of result assessment and process evaluation, linking assessment results with rewards and penalties.
Article 4
The total salary of the company shall not exceed the approved total salary amount. The annual compensation of senior management personnel shall be drawn from the approved total salary amount.
Article 5
If the average salary of on-the-job employees does not increase in the current year, the performance annual salary of the chairman shall not increase, except for objective reasons such as policy changes or industrial structure adjustments.
Article 6
If the company's performance completion value or economic benefits decline compared to the previous year, the chairman's performance annual salary shall generally not exceed that of the previous year; if the company incurs new losses in the current year, the chairman's performance annual salary shall generally be adjusted downward in accordance with the extent of the losses.
Article 7
The executing body of these measures is the compensation and assessment committee established under the board of directors. The members of the compensation and assessment committee are composed of directors. The company's audit risk control department, human resources department, and financial center serve as the working bodies of the compensation and assessment committee.
Chapter 2 Composition of Compensation
Article 8
The chairman's compensation consists of annual salary and term incentive income, with the annual salary including basic annual salary and performance annual salary. The annual salary is based on the average salary of on-the-job employees in municipal enterprises confirmed by the Guangzhou Municipal Bureau of Human Resources and Social Security for the previous year, combined with the results of the annual operational performance assessment.