Hebei Haiwei Electronic New Material Technology Co., Ltd. (Stock Code: 9609) has released the terms of reference for its Board of Directors’ Remuneration Committee. The document is formulated in accordance with the Company Law of the People’s Republic of China, overseas listing regulations, and the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited. It sets guidelines for assessing and determining remuneration for directors and senior management, aiming to refine appraisal methods and strengthen corporate governance.
The Remuneration Committee consists of three directors, with the majority being independent non-executive directors. Its responsibilities include reviewing remuneration packages, evaluating performance, and proposing compensation plans based on established benchmarks. It is also tasked with ensuring transparency, fairness, and consistency with statutory requirements, while reporting directly to the Board. In addition, the committee is authorized to engage external advisors if necessary and is required to disclose key developments through appropriate company and regulatory channels.
Procedural rules specify that meetings may be held regularly or on an extraordinary basis, with clear guidelines on notice periods, voting methods, and attendance requirements. Resolutions adopted by the committee must be submitted to the Board for final review, and any director involved must abstain from discussions concerning personal remuneration matters. The committee’s work is designed to uphold shareholder interests and ensure that the company discloses relevant remuneration information in strict accordance with regulatory and internal governance standards.
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