System for the Remuneration and Performance Appraisal of Directors and Senior Management
Chapter 1 General Provisions
Article 1 To improve the remuneration management of directors and senior management of Guangdong Yaowang Technology Group Co., Ltd. (hereinafter referred to as the "Company"), establish a scientific and effective incentive and restraint mechanism, effectively mobilize the enthusiasm of directors and senior management, enhance the Company's operational and management efficiency, and promote the Company's sustained, healthy, and stable development, this System is formulated in accordance with the "Company Law of the People's Republic of China," the "Corporate Governance Guidelines for Listed Companies," and other laws and regulations, as well as the "Articles of Association of Guangdong Yaowang Technology Group Co., Ltd." (hereinafter referred to as the "Articles of Association"), and in combination with the Company's actual situation.
Article 2 The subjects applicable to this System are: directors and senior management.
Article 3 The remuneration distribution and appraisal of the Company's directors and senior management shall be based on enterprise efficiency. Based on the Company's annual operating plan and the work objectives of the relevant personnel's responsibilities, a comprehensive appraisal will be conducted, and their remuneration will be determined based on the appraisal results.
Article 4 Principles for the remuneration and performance appraisal of the Company's directors and senior management: (1) Adhere to the principle of distribution according to work and the combination of responsibilities, rights, and benefits; (2) The principle of linking income level with the Company's efficiency and work objectives; (3) The principle of linking remuneration with the Company's long-term interests; (4) The principle that the overall remuneration level considers both internal and external fairness and is commensurate with the Company's scale; (5) The principle of open, fair, and transparent remuneration standards.