Cewen Media Co., Ltd. Management System for Senior Management Compensation and Performance Evaluation (April 2026 Revision)
Chapter 1 General Provisions
Article 1 To ensure that senior management of Cewen Media Co., Ltd. (hereinafter referred to as "Cewen Media" or "the Company") legally performs their duties, actively participates in the Company's decision-making and management, establishes a sound compensation management system, and builds a scientific and effective incentive and restraint mechanism to promote the Company's sustained, stable, and healthy development, this system is formulated in accordance with the "Company Law of the People's Republic of China," "Corporate Governance Guidelines for Listed Companies," and other relevant laws, regulations, normative documents, and the "Articles of Association" of the Company.
Article 2 This system applies to the following personnel: (1) Senior management personnel as stipulated in the "Articles of Association," including the General Manager, Executive Deputy General Manager, Deputy General Managers, Secretary of the Board, and Chief Financial Officer; (2) Other personnel deemed applicable by the Board of Directors and the Compensation and Performance Evaluation Committee.
Article 3 Cewen Media is committed to building a senior management compensation system that aligns with the Company's long-term development and shareholder interests, integrates with the Company's performance and work objectives, and conforms to market principles. The Company's compensation and performance evaluation system adheres to the following principles: (1) Principle of Unified Social and Economic Benefits. Prioritize social benefits and achieve the unification of social and economic benefits. (2) Principle of Total Amount Management. Strictly implement the total compensation management system, enforcing the principle of "salary increases with efficiency, salary decreases with efficiency." (3) Principle of Performance Orientation. Compensation is linked to the Company's operating performance, performance, and fulfillment of duties. (4) Principle of Sustainable Development. Establish a performance management system that is grounded in the present and looks to the future, ensuring the preservation and appreciation of state-owned assets and promoting the Company's sustainable development. (5) Red Line Principle. Establish red lines for duties, including political guidance, ideology, integrity and self-discipline, and lawful operation of the enterprise.