2025 Annual Report of Independent Director (Liao Zhongmin)
I, Liao Zhongmin, as an independent director of Foshan Energy Group Co., Ltd. (hereinafter referred to as the "Company"), have strictly adhered to the "Company Law of the People's Republic of China" (hereinafter referred to as the "Company Law"), the "Securities Law of the People's Republic of China" (hereinafter referred to as the "Securities Law"), the "Corporate Governance Guidelines for Listed Companies," the "Administrative Measures for Independent Directors of Listed Companies," the "Stock Listing Rules" of the Shenzhen Stock Exchange, and the "Guiding Opinions on Self-Regulation of Listed Companies No. 1 - Standardized Operation of Main Board Listed Companies," and other relevant laws and regulations, as well as the Company's Articles of Association and the "Independent Director Work System." I have upheld the principles of independence, diligence, and responsibility, and faithfully performed my duties. In 2025, I actively attended company meetings, participated in on-site research, prudently reviewed various proposals, offered suggestions for the Company's development, and effectively protected the legitimate rights and interests of the Company and all shareholders, especially minority shareholders. This report summarizes my performance during the year:
I. Basic Information
I, Liao Zhongmin, hold a Bachelor of Commerce degree (major in Accounting) from the University of Western Australia, and am a senior member of the Hong Kong Institute of Certified Public Accountants and a senior member of CPA Australia and Chartered Accountants Australia and New Zealand. From 1982 to 1986, I was a Senior Auditor at Russell Bedford in Hong Kong; from 1986 to 1987, I was a Senior Auditor at PWC Melbourne; from 1987 to 1993, I was a Senior Manager and Associate Partner at Bird Cameron Melbourne; from 1997 to 2000, I was an external expert member of the Auditing Standards Committee of the Ministry of Finance of China and the Chinese Institute of Certified Public Accountants; from 2005 to 2006, I was President of CPA Australia North China; from 1993 to 2020, I was a Senior Manager and Partner at Russell Bedford / PwC Tianye in Hong Kong; from 2010 to 2020, I was the Lead Partner for Greater China Automotive Business, Lead Partner for Japan Business, and Audit Partner for Human Resources at PwC. I previously served as an Independent Non-Executive Director of Bo Kangyun Pharmaceutical Co., Ltd. (March 14, 2025 - October 2, 2025); I am currently a member of the CPA Australia North China Committee; since August 2022, I have been an Independent Non-Executive Director of Hongtong Electronic Holdings Co., Ltd.; since October 2023, I have been an Independent Non-Executive Director of Guotai Junan International Holdings Limited; since July 2025, I have been an Independent Non-Executive Director of PGG Wrightson Limited; since November 2020, I have served as an Independent Director of the Company, exercising my duties as an independent director.
During the reporting period, my position met the independence requirements stipulated in the "Administrative Measures for Independent Directors of Listed Companies" and other regulations, and there were no circumstances affecting my independence.
II. Annual Performance Overview
(I) Attendance at Meetings
1. Board of Directors and Shareholders' Meetings
I actively participated in board and shareholders' meetings, diligently reviewed meeting agendas and related materials, and made prudent judgments. Except for proposals requiring recusal, I voted in favor of all proposals deliberated at board meetings and raised no objections regarding other company matters.
In 2025, the Company held 6 shareholders' meetings and 11 board meetings. The convening and holding of board meetings complied with legal procedures, and major operational decisions underwent the necessary approval processes. The attendance situation is as follows: