Xingmin Intelligent Transportation (Group) Co., Ltd. Compensation Management System for Directors and Senior Management
Article 1 To further improve the corporate governance structure of Xingmin Intelligent Transportation (Group) Co., Ltd. (hereinafter referred to as the "Company"), strengthen and regulate the management of compensation for the Company's directors and senior management, and promote the Company's healthy, sustainable, and stable development, this System is formulated in accordance with the "Company Law of the People's Republic of China," the "Guiding Principles for Corporate Governance of Listed Companies," and other relevant laws, regulations, normative documents, and the "Articles of Association of Xingmin Intelligent Transportation (Group) Co., Ltd." (hereinafter referred to as the "Articles of Association"), taking into account the Company's actual situation.
Article 2 This System applies to all directors of the Board of Directors and all senior management personnel appointed by the Board of Directors.
Article 3 The compensation management for the Company's directors and senior management adheres to the following principles: (1) Principle of combining the Company's long-term interests: Compensation should be consistent with the Company's goal of sustainable and healthy development, combining short-term and long-term incentives to promote the Company's sustainable development; (2) Principle of equal rights and responsibilities: Compensation levels should be commensurate with the value of the position, work performance, and responsibility risks; (3) Principle of emphasizing both incentives and constraints: Compensation payments should be linked to the assessment of individual job responsibilities and target completion, the Company's operating performance, and behavioral norms.