Management System for Remuneration of Directors and Senior Management
(Approved by the 38th Meeting of the 8th Board of Directors on April 9, 2026)
Chapter 1 General Provisions
Article 1 To establish and improve the incentive and restraint mechanism for operators, align operators' interests with the long-term interests of the company, effectively mobilize the enthusiasm and creativity of the company's directors and senior management, and promote the healthy, stable, and sustainable development of the company, this system is formulated in accordance with the "Company Law of the People's Republic of China," the "Listing Rules of the Shenzhen Stock Exchange," and other relevant laws, administrative regulations, departmental rules, and the "Articles of Association of Hangyang Group Co., Ltd." (hereinafter referred to as the "Articles of Association"), taking into account the actual situation of the company.
Article 2 The scope of application of this system includes: (1) Directors of the company: including non-independent directors (including employee representative directors) and independent directors; (2) Senior management personnel of the company: senior management personnel as defined in the "Articles of Association."
Article 3 Remuneration determination shall follow the following principles: (1) The principle of open, just, and fair remuneration standards; (2) The principle of matching remuneration with annual performance appraisal; (3) The principle of combining remuneration with the company's actual operating conditions; (4) The principle of combining remuneration with rights, responsibilities, and benefits; (5) The principle of balancing incentives and constraints.