Proposed Amendments to Article and Procedural Rule
Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.
中
AIR CHINA LIMITED
(a joint stock limited company incorporated in the People's Republic of China with limited liability)
(Stock Code: 00753)
(1) PROPOSED AMENDMENTS TO THE ARTICLES OF ASSOCIATION OF THE COMPANY
AND
(2) PROPOSED AMENDMENTS TO THE RULES AND PROCEDURES OF SHAREHOLDERS' MEETINGS AND THE RULES AND
PROCEDURES OF MEETINGS OF THE BOARD OF DIRECTORS
PROPOSED AMENDMENTS TO THE ARTICLES OF ASSOCIATION
Air China Limited (the "Company") announces that, according to the provisions and regulatory requirements of the Company Law of the People's Republic of China, the Securities Law of the People's Republic of China, the Official Reply of the State Council regarding Adjusting the Application of Provisions to Matters Including the Notice Period for Convention of Shareholders' Meetings by Overseas Listed Companies 《 ( 國 ), the Guidelines for the Articles of Association of Listed Companies 《 ( 上 ), the Code of Corporate Governance for Listed Companies 《 ( 上 ) and other laws and regulations and regulatory documents as well as the actual operational and management needs of the Company, the board of directors of the Company (the "Board") has resolved on 26 November 2021 to propose to the shareholders of the Company (the "Shareholder(s)") certain amendments to the articles of association of the Company (the "Articles of Association").
The full text of the proposed amendments to the Articles of Association is set out in Appendix I to this announcement.
The proposed amendments to the Articles of Association are subject to approval by the Shareholders by way of special resolution at a general meeting of the Company.
PROPOSED AMENDMENTS TO THE RULES AND PROCEDURES OF SHAREHOLDERS' MEETINGS AND THE RULES AND PROCEDURES OF MEETING OF THE BOARD
On 26 November 2021, the Board also resolved to propose to the Shareholders certain amendments to the Rules and Procedures of Shareholders' Meetings and the Rules and Procedures of Meetings of the Board, so as to, among others, align with the proposed amendments to the Articles of Association. The full texts of the proposed amendments to the Rules and Procedures of Shareholders' Meetings and the Rules and Procedures of Meetings of the Board are set out in Appendices II and III to this announcement, respectively.
The proposed amendments to the Rules and Procedures of Shareholders' Meetings and the Rules and Procedures of Meetings of the Board are subject to approval by the Shareholders by way of special resolutions at a general meeting of the Company.
GENERAL
A circular containing, among other things, details of (i) the proposed amendments to the Articles of Association; and (ii) the proposed amendments to the Rules and Procedures of Shareholders' Meetings and the Rules and Procedures of Meetings of the Board, will be despatched to the Shareholders in due course.
By Order of the Board
Air China Limited
Huang Bin Huen Ho Yin
Joint Company Secretaries
Beijing, the PRC, 26 November 2021
As at the date of this announcement, the directors of the Company are Mr. Song Zhiyong, Mr. Ma Chongxian, Mr. Feng Gang, Mr. Patrick Healy, Mr. Xue Yasong, Mr. Duan Hongyi*, Mr. Stanley Hui Hon-chung* and Mr. Li Dajin*.
* Independent non-executive director of the Company
APPENDIX I PROPOSED AMENDMENTS TO THE ARTICLES OF ASSOCIATION
Set out below are the details of the proposed amendments to the Articles of Association. The revisions have been underlined (if applicable) for the convenience of perusal.
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Article 3 The Company's address: Basement1-101 9th Floor, Building 1, 30 Tianzhu Road,ShunyiDistrict,Beijing,China. |
Article 3 The Company's address: Basement1-1011st Floor-9th Floor 101, Building 1, 30TianzhuRoad,ShunyiDistrict,Beijing,China. |
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Article8 TheArticlesofAssociationarebinding on the Company and its shareholders,directors, supervisors,president,vicepresidentsandotherseniorofficers;allofwhommay,accordingtotheCompany'sArticlesofAssociation,asserttheirrightsinrespectoftheaffairsoftheCompany. |
Article8 TheArticlesofAssociationarebinding on the Company and its shareholders,membersofthePartyCommittee,directors,supervisors,president,vicepresidentsandotherseniorofficers;allofwhommay,accordingtotheCompany'sArticlesofAssociation,asserttheirrightsinrespectoftheaffairsoftheCompany. |
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Article11 AccordingtotheConstitutionoftheCommunistPartyofChina,theCompanyshallestablishanorganizationoftheCommunistPartyofChina.ThePartyCommittee shall perform the core leading andpoliticalfunctions,controlthedirections,managethesituationandensuretheimplementation.TheCompanyshallset upthe working organs of the Party, which shall beequippedwithsufficientpersonneltohandlePartyaffairsandprovidedwithsufficientfundstooperatethePartyorganization. |
Article11 AccordingtotheConstitutionoftheCommunistPartyofChina,theCompanyshallestablishanorganizationoftheCommunistPartyofChinatocarryouttheactivitiesoftheParty,establishaworkingorganfortheParty,.ThePartyCommitteeshallperformthecoreleadingandpoliticalfunctions,controlthedirections,managethesituationandensuretheimplementation.TheCompanyshallsetuptheworkingorgansoftheParty,whichshallbeequippedwithallocatesufficientand competentpersonneltohandlePartyaffairsandprovidedwithsufficientfundstooperatethePartyorganization. |
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Article 29 The Company may, in accordancewith the procedures set out in the Company'sArticlesofAssociationandwiththeapprovalof the relevant governing authority of the State,repurchaseitsissuedsharesunderthefollowingcircumstances:
(1) cancellationofsharesforthepurposesofreducingitscapital;
(2) mergingwithanothercompanythatholdssharesintheCompany;
(3) grantingsharesasanincentivetotheemployeesoftheCompany;
(4) acquiringasrequestedthesharesofshareholderswhovoteagainstanyresolutiononthemergerordemergeroftheCompanyadoptedatashareholders'generalmeeting;
(5) other circumstances permitted by laws andadministrativeregulations.
The Company's repurchase of its issued sharesshall complywiththeprovisionsofArticle 30toArticle33oftheArticlesofAssociation. |
Article 29 The Company may, in accordancewith the procedures set outin the Company'sArticlesofAssociationandwiththeapprovalof the relevant governing authority of the State,repurchaseitsissuedsharesunderthefollowingcircumstances:
(1) cancellationofsharesforthepurposesof reducingitsregisteredcapital;
(2) mergingwithanothercompanythatholdssharesintheCompany;
(3) granting using the shares for the employeeshareownershipplanorasshareincentiveasanincentivetotheemployeesoftheCompany;
(4) acquiringasrequestedthesharesofshareholderswhovoteagainstanyresolutiononthemergerordemergeroftheCompanyadoptedatashareholders'generalmeeting;
(5) using the shares for the conversion of the corporate bonds issued bythelisted companywhichareconvertibleintoshares;
(6) necessaryforsafeguardingthevalueof the Company and the shareholders' interests;
(7) (5) othercircumstancespermittedbylawsandadministrativeregulations.
Saveastheaforesaidcircumstances,the Companyshallnotconductactivitiesof dealinginitsshares. The Company's repurchase of its issued sharesshallcomplywiththeprovisionsofArticle30toArticle33oftheArticlesofAssociation. |
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Article30 TheCompanymayrepurchaseshares in one of the following ways, with theapproval of the relevant governing authority oftheState: |
Article30 TheCompanymayrepurchaseshares in one of the following ways, with theapproval of the relevant governing authority oftheState: |
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(1)bymakingageneralofferfortherepurchaseofsharestoallitsshareholdersonaproratabasis; |
(1)bymakingageneralofferfortherepurchaseofsharestoallitsshareholdersonaproratabasis; |
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(2)byrepurchasingsharesthroughpublicdealingonastockexchange; |
(2)byrepurchasingsharesthroughpublicdealingonastockexchange; |
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(3)byrepurchasingsharesoutsideofthestockexchangebymeansofanagreement; |
(3)byrepurchasingsharesoutsideofthestockexchangebymeansofanagreement; |
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(4)byanyothermeanwhichispermittedbylawandadministrativeregulationsandbytheauthorityinchargeofsecuritiesoftheStateCouncil. |
(4)byanyothermeanwhichispermittedbylawandadministrativeregulationsandbytheauthorityinchargeofsecuritiesoftheStateCouncil. |
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Therepurchaseofthesharesofthe Companyarisingfromthecircumstances provided under items (3), (5) and (6) of the firstparagraphofArticle29ofthese ArticlesofAssociationshallbecarriedout bywayofopenandcentralizedtrading. |
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Article32 Shareswhichhavebeenlawfullyrepurchased by the Company shall be cancelledortransferredwithintheperiodprescribedbylaw, administrative regulation and the relevantListingRules,and,inthecaseofcancellationofshares,theCompanyshallapplytotheoriginalcompaniesregistrationauthorityforregistrationofthechangeinitsregisteredcapital.
The aggregate par value of the cancelled sharesshallbedeductedfromtheCompany'sregisteredsharecapital. |
Article32 Shareswhichhavebeenlawfully repurchased by the Company shall be cancelled ortransferredwithintheperiodprescribedby law, administrative regulation and the relevant ListingRules,and,inthecaseofcancellation ofshares,theCompanyshallapplytothe originalcompaniesregistrationauthorityfor registrationofthechangeinitsregistered capital. Thepurchaseofthesharesofthe Companyarisingfromthecircumstances provided under items (1) and (2) of the first paragraphofArticle29oftheArticlesof Associationshallbemadebytheresolution oftheshareholders'generalmeeting;the purchaseofthesharesoftheCompany arisingfromthecircumstancesprovided underitems(3),(5)and(6)ofthefirst paragraphofArticle29oftheArticlesof Associationmaybemadebytheresolutions of the board of directors in a board meeting where more than two-thirds (2/3) of directorsarepresentundertheprovisions oftheArticlesofAssociationorthe authorizationgrantedattheshareholders' generalmeeting.
Afterthepurchaseofthesharesofthe Companyaccordingtotheprovisionof Article29,thesharesshallbecancelled within10daysfromthedateofpurchase under the circumstance of the item (1) of the first paragraph; the shares shall be transferredorcancelledwithin6months underthecircumstancesofitems(2)and(4) ofthefirstparagraph;thetotalnumberof shares then held by the Company shall not exceed ten percent of the total number of its issuedsharesandthesharessopurchased shallbetransferredorcancelledwithin3 yearsunderthecircumstancesofitems(3), (5)and(6)ofthefirstparagraph. |
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If it is otherwise provided for the repurchase andcancellationofshares undertherelevantrulesoftheregulatory authoritiesandstockexchangesofthe jurisdictions where thesharesofthe Companyarelisted,such requirements shallprevail.
The aggregate par value of the cancelled sharesshallbedeductedfromtheCompany'sregisteredsharecapital. |
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Article 39 Share certificates of the CompanyshallbesignedbythelegalrepresentativeoftheCompany'sboardofdirectors.Wherethestockexchange(s)onwhichtheCompany'ssharesarelistedrequireotherseniorofficer(s)oftheCompanytosignonthesharecertificates, the sharecertificates shall also besignedbysuchseniorofficer(s).Thesharecertificates shall take effect after being affixedwiththesealoftheCompany(includingtheseal of the Company especially for securities).The share certificateshall be affixedwith thesealoftheCompanyorthesealoftheCompanyespeciallyforsecuritiesundertheauthorizationoftheboardofdirectors.ThesignaturesoftheChairmanoftheboardofdirectorsorotherseniorofficer(s)oftheCompanymaybeinprintedform. |
Article 39 Share certificates of the CompanyshallbesignedbythelegalrepresentativeoftheCompany'sboardofdirectors.Wherethestockexchange(s)onwhichtheCompany'ssharesarelisted requireothersenior officer(s)oftheCompanytosignonthesharecertificates,thesharecertificatesshallalsobesignedbysuchseniorofficer(s).Thesharecertificates shall take effect after being affixedwiththesealoftheCompany(includingtheseal of the Company especially for securities).ThesharecertificateshallbeaffixedwiththesealoftheCompanyorthesealoftheCompanyespeciallyforsecuritiesundertheauthorizationoftheboardofdirectors.ThesignaturesoftheChairmanoftheboardofdirectorsorotherseniorofficer(s)oftheCompanymaybeinprintedform.SubjecttotheconditionsofpaperlessofferingandtradingofthesharesoftheCompany,thelawsandrulesotherwiseprovidedbytheregulatoryauthoritiesofthejurisdictionswherethesharesoftheCompanyarelistedareapplicable. |
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Article48 Nochangemaybemadeintheregisterofshareholdersasaresultofatransferofshareswithinthirty(30)dayspriortothedateofashareholders'generalmeetingorwithinfive(5)daysbeforetherecorddatefor |
Article48 Nochangemaybemadeinthe registerofshareholdersasaresultofatransfer ofshareswithinthirty(30)dayspriortothe dateofashareholders'generalmeetingor withinfive(5)daysbeforetherecorddatefor |
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theCompany'sdistributionofdividends.Theaforementioned regulation appliesto holders ofHShares. |
theCompany'sdistributionofdividends.The aforementionedregulationappliestoholdersof HShares.
Whereprovisionsoflaws,administrative regulations, other directives and the relevantstockexchangesorregulatory authoritiesofthejurisdictionswherethe sharesoftheCompanyarelistedgoverning the period of closure of register of members beforeconveningtheshareholders'general meeting ortherecorddatefordetermining the distribution ofdividendsofthe Company,suchrequirementsshallprevail. |
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Article66 Shareholders' general meetingsaredividedintoannualgeneralmeetingsandextraordinarygeneralmeetings.Theannualgeneralmeetingsshallbeconvenedonceeveryyearandshallbeheldwithinsixmonthsfromtheendoftheprecedingfinancialyear.Meetingvenuesshallbefixedfor the shareholders' general meetings, and theshareholders'generalmeetingsshallbeconvenedintheon-siteconferencemode.
TheCompanyshallfacilitatetheshareholdersparticipatingintheshareholders'generalmeetingsthroughallpracticablemannersandmeansandpriorityshallbegiventomoderninformationtechnologicalmeanssuchasvotingplatformthrough internet, providedthatthelegalityandeffectivenessoftheshareholders'generalmeetingareensured.Shareholdersaredeemedtobepresentintheshareholders'generalmeetingsthroughtheaforesaidmeans.
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Article66 Shareholders' general meetingsaredividedintoannualgeneralmeetingsandextraordinarygeneralmeetings.Theannualgeneralmeetingsshallbeconvened onceevery year and shall be held within 6 monthsfromtheendoftheprecedingfinancialyear.Meetingvenuesshallbefixedfortheshareholders'generalmeetings,andtheshareholders'generalmeetingsshallbeconvenedintheon-site conference mode.TheCompanyalsoprovidestheonlinevotingmannerfortheconvenience ofshareholdersinattendingtheirgeneralmeetings.
The Company shall may facilitate the shareholdersparticipatingintheshareholders'generalmeetingsthroughallpracticablemannersbyprovidingothermannersandmeanstoparticipateintheshareholders'general meetingsand priority shall be given tomoderninformationtechnologicalmeanssuchasvotingplatformthroughinternet,providedthatthelegalityandeffectivenessoftheshareholders'generalmeetingareensured. |
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Shareholdersaredeemedtobepresentintheshareholders'generalmeetingsthroughintheaforesaidmannersandmeansforms.
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Article67 WhentheCompanyconvenesashareholders'generalmeeting,writtennoticeofthemeetingshallbegivenforty-five(45)daysbeforethedateofthemeetingtonotifyall of the shareholders whose names appear ontheshareregisterofthematterstobeconsideredandthedateandplaceofthemeeting.AshareholderwhointendstoattendthemeetingshalldelivertotheCompanyhiswritten reply concerning his attendance at suchmeeting twenty (20) days before the date of themeeting. |
Article67 WheretheCompanyconvenesanannualgeneralmeeting,awrittennoticeofthemeetingshallbegiventotheshareholdersentitledtoattendthisgeneralmeeting20dayspriortothedateofthemeeting.WheretheCompanyconvenesanextraordinarygeneralmeeting,awrittennoticeofthemeetingshallbegiventotheshareholdersentitledtoattendthisgeneralmeeting15dayspriortothedateofthemeeting.
Ifitisotherwiseprovidedinthelaws, administrativeregulations,departmental rules and the securities regulatory authorities orstock exchangesinthe jurisdictions where thesharesofthe Companyarelisted,such requirements shallprevail.
WhentheCompanyconvenesashareholders' general meeting, written notice of the meeting shallbegivenforty-five(45)daysbeforethe dateofthemeetingtonotifyallofthe shareholderswhosenamesappearon the shareregisterofthematterstobeconsidered andthedateandplaceofthemeeting.A shareholder who intends to attend the meeting shall deliver to the Company his written reply concerninghisattendanceatsuchmeeting twenty(20)daysbeforethedateofthe meeting. |
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Article 69 The Company shall, based on thewrittenreplieswhichitreceivesfromtheshareholderstwenty (20)daysbeforethedate |
Article 69 The Company shall, based on the writtenreplieswhichitreceivesfromthe shareholderstwenty(20)daysbeforethedate |
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of the shareholders' general meeting, calculatethe number of voting shares represented by theshareholderswho intendtoattendthe meeting.Ifthenumberofvotingsharesrepresentedbytheshareholderswhointendtoattendthemeeting amount to more than one- half of theCompany'stotalvotingshares,theCompanymayholdthemeeting;ifnot,thentheCompanyshall,withinfive(5)days,furthernotifytheshareholdersbywayofpublicannouncementthemattersto be consideredat, and the place and date for, the meeting. TheCompanymaythenholdthemeetingafterpublicationofsuchannouncement. |
of the shareholders' general meeting, calculate the number of voting shares represented by the shareholderswhointendtoattendthemeeting. Ifthenumberofvotingsharesrepresentedby theshareholderswhointendtoattendthe meeting amount to more than one- half of the Company'stotalvotingshares,theCompany mayholdthemeeting;ifnot,thenthe Companyshall,withinfive(5)days,further notifytheshareholdersbywayofpublic announcementthemattersto be considered at, and the place and date for, the meeting. The Companymaythenholdthemeetingafter publicationofsuchannouncement. |
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Article73 Noticeofshareholders'generalmeetingshallbeservedontheshareholders(whether or not such shareholder is entitled tovote at the meeting), by personal delivery or byprepaidmailtotheaddressoftheshareholderasshownintheregisterofshareholders. |
Article72 Article73 Noticeofshareholders'generalmeetingshallbeservedontheshareholders(whetherornotsuchshareholderis entitled to vote at the meeting), by personaldeliveryorbyprepaidmailtotheaddressoftheshareholderasshownintheregisterof shareholders. |
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FortheholdersofAshares,noticeofthemeetingsmaybeissuedbywayofpublicannouncement.Suchpublic announcementshallbepublishedinone(1)ormorenationalnewspapersdesignatedbythesecuritiesauthorityoftheState Councilwithintheintervalofforty-five(45)daystofifty (50) days before the date of the meeting;after the publication of such announcement, allholdersofAsharesshallbedeemedtohavereceivedthenoticeoftherelevantshareholders'meeting. |
FortheholdersofAshares,noticeofthemeetingsmaybeissuedbywayofpublicannouncement.Suchpublic announcementshall be published in one (1) or more nationalnewspapersdesignatedbythesecuritiesauthorityoftheStateCouncilwithintheintervalofforty-five(45)daystofifty(50)days before the date ofthe meeting;after thepublicationofsuchannouncement,allholdersofAsharesshallbedeemedtohavereceivedthenoticeoftherelevantshareholders' meeting. |
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For holders of Overseas-Listed Foreign Shares,subjecttocompliancewiththelawsandregulationsandtherelevantlistingrules ofthejurisdictionswherethesharesoftheCompanyarelisted,thenoticeof |
For holders of Overseas-Listed Foreign Shares,subjecttocompliancewiththelawsandregulationsandtherelevantlistingrulesofthejurisdictionswherethesharesoftheCompanyarelisted,thenoticeof |
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shareholders'generalmeetingmayalsobeissuedbyothermeansasspecifiedinArticle231herein. |
shareholders'generalmeetingmayalsobeissuedbyothermeansasspecifiedinArticle231herein. |
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Article 106 The Company shall establish thePartyCommittee.ThePartyCommitteeiscomprisedofonesecretaryandseveralothermembers.ThepositionsofChairmanandthesecretaryofthePartyCommitteeshallbeassumed by the same person in principle, and afull-timedeputy secretaryofthePartyCommitteeshallbeappointedtotakechargeofthePartybuildingwork.EligiblemembersofthePartyCommitteeareentitledtobeadmittedtotheboardofdirectors,thesupervisorycommittee,andthemanagementthroughlegalprocedures,andeligiblePartymembersfromtheboardofdirectors,thesupervisoryCommittee,andthemanagementareentitledtobeadmittedtothePartyCommitteeinaccordancewithrelevantrulesandprocedures.Meanwhile,adisciplineinspectioncommitteeshallbeestablishedinaccordancewithappropriaterequirements. |
Article105 Article106 Accordingtothe requirementsoftheConstitutionofthe CommunistPartyofChinaandsubjectto theapprovalbyupperPartyorganization, theCompanyshallestablishtheChinese CommunistPartyCommitteeofAirChina Limited. TheCompanyshallestablishthe PartyCommittee. ThePartyCommitteeiscomprisedofonesecretaryandseveralothermembers, and shall establish the CommissionforDisciplineInspectionofthePartyinaccordancewiththerequirements.ThepositionsofChairmanandthesecretaryofthePartyCommitteeshallbeassumedbythesamepersoninprinciple,andafull-timedeputy secretaryof thePartyCommittee shallbeappointedtotakechargeofthePartybuildingwork.EligiblemembersofthePartyCommitteeareentitledtobeadmittedtotheboardofdirectors,thesupervisorycommittee,and the management through legal procedures,and eligible Party members from the board ofdirectors,thesupervisorycommittee,andthemanagement are entitled to be admitted to thePartyCommitteeinaccordancewithrelevantrulesandprocedures.Meanwhile,adisciplineinspectioncommitteeshallbeestablishedinaccordancewithappropriaterequirements. |
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Article107 ThePartyCommitteeoftheCompanyshallperformitsdutiesbytheinternallawsandregulationsofthe PartysuchastheConstitutionoftheCommunistPartyofChina.
(1) To guarantee and supervise the Company'simplementationofpoliciesandguidelinesofthePartyandtheState,implementmajor |
Article106 Article107 ThePartyCommittee of the Company shall perform its duties by the internallawsandregulationsofthePartysuch as the Constitution of the Communist Party of China. The Party Committee of the Company shallplayaleadingrole,settheright direction,keepinmindthebigpicture, promote the implementation ofParty policiesandprinciples,discussanddecide |
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strategic decisions of the Central Committee ofthePartyandtheStateCouncil,aswellasmakedeploymentfortherelevantmaterialworksofthePartyCommitteeoftheState-ownedAssetsSupervisionandAdministrationCommissionoftheStateCouncilandthesuperiorPartyorganisation.
(2) ToadheretotheprincipleofthePartyexercisingleadershipovercadres,theselectionofmanagementbytheboardofdirectors,andtheexerciseofpowerasregardstherightofcadres'appointmentbythemanagementinaccordancewithlaws.ThePartyCommitteeshalldeliberateandgiveopinionsonthecandidatesnominatedbytheboardofdirectorsorthegeneralmanager,orrecommendnomineestotheboardofdirectorsorthegeneralmanager.ThePartyCommittee of the Company, together with theboardofdirectors,shallobservetheproposedcandidatesandgiveopinionscollectively.
(3) TostudyanddiscusstheCompany'smaterialmattersonitsreform,developmentand stability, as well as major issues relating totheCompany'soperationandmanagementandtotheinterestsofthestaff,andproposeopinionsandsuggestionsthereon.
(4) To assume full responsibility for enforcingthestrictdisciplineoftheParty.LeadingtheCompany's ideological and political work, thefrontunificationwork,buildingofspiritualcivilizationaswellasbuildingofcorporateculture,andleadmassorganizationssuchasthelabourunionandtheCommunistYouthLeague.PlayingaleadingroleintheconstructionoftheParty'sworkingstyleand |
onmajor issuesoftheCompanyin accordancewiththeregulations.Decisions relatin gtomajoroperationand managementmattersshallbemadein accordance with relevant regulations by the boardofdirectorsorthemanagementafter thepre-studyanddiscussionbytheParty Committee.ThemaindutiesoftheParty Committeeareasfollows:
(1) to enhance the political building of the PartyintheCompany,adheretoand implementthefundamentalsystem,basic systemandimportantsystemofsocialism withChinesecharacteristics,educateand guideallPartymemberstocloselyalign withthePartyCentralCommitteewith Comrade Xi Jinping at its core in terms of politicalstance,direction,principlesand path;
(2) to thoroughly study and implement Xi JinpingThoughtonSocialismwithChinese CharacteristicsforaNewEra,studyand propagatetheParty'stheory,thoroughly implementtheParty'sline,principlesand policies, supervise and guarantee the implementatio nofmajorstrategy deployments of the Party Central Committee and the resolutions of the Party organization atahigherlevelinthe Company;
(3) to investigate and discuss major issues relating to the operation and management of theCompanyandsupporttheboardof directors and the management in exercising their powers and performing their duties in accordancewiththelaws; |
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acleanandhonestgovernment,andsupportthe discipline inspection committee in fulfillingitsresponsibilityofsupervisioninpractice. |
(4) tostrengthentheleadershipand gatekeepingroleintheprocessofselection andappointmentofpersonnelofthe Company,andenhancethebuildingofthe leadershipteam,thecadreteamandthe talentteamoftheCompany;
(5) to undertake the main responsibility in improvingPartyconductandupholding integrity,leadandsupporttheinternal disciplineinspectioncommitteetodischarge it ssupervisoryanddisciplining responsibilitiesaswellasexercisestrict administrativedisciplineandpoliticalrules and promote Party self-governance exercised fullyandwithrightintothegrassrootslevel;
(6) to strengthen the building of primary- level Party organizations and ofits contingentofPartymembers,uniteand leademployeestodevotethemselvesinto the reform and development of the Company;
(7) to lead the Company's ideological and politicalwork,thespiritandcivilization progress,theUnitedFrontworkandlead themassorganizationssuchastheLabour Union,theCommunistYouthLeagueand theWomen'sOrganizationoftheCompany.
(1) To guarantee and supervise the Company's implementationofpoliciesandguidelinesof thePartyandtheState,implementmajor strategicdecisionsoftheCentralCommittee of the Party and the State Council, as well as makedeploymentfortherelevantmaterial worksofthePartyCommitteeoftheState- ownedAssetsSupervisionandAdministration CommissionoftheStateCouncilandthe superiorPartyorganisation. |
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(2) ToadheretotheprincipleoftheParty exercisingleadershipovercadres,theselection of managementbytheboard ofdirectors, and theexerciseofpowerasregardstherightof cadres'appointmentbythemanagementin accordancewithlaws.ThePartyCommittee shalldeliberateandgiveopinionsonthe candidates nominated bytheboardof directors or the general manager, or recommend nominees totheboardof directorsorthegeneralmanager.TheParty Committee of the Company, together with the boardofdirectors,shallobservetheproposed candidatesandgiveopinionscollectively.
(3) TostudyanddiscusstheCompany's materialmattersonitsreform,development and stability, as well as major issues relating to theCompany'soperationandmanagementand totheinterestsofthestaff,andpropose opinionsandsuggestionsthereon.
(4) To assume full responsibility for enforcing thestrictdisciplineoftheParty.Leadingthe Company'sideologicalandpoliticalwork, the frontunificationwork,buildingofspiritual civilizationaswellasbuildingofcorporate culture,andleadmassorganizationssuchas thelabourunionandtheCommunistYouth League. Playing aleadingroleinthe constructionoftheParty'sworkingstyleand a clean and honest government, and support the discipline inspection committee in fulfilling its responsibilityofsupervisioninpractice. |
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Article 107 By insisting onand improvingtheleadershipmechanismof"DualEntryandCrossAppointment",eligiblemembersofthePartyCommitteemaytakeseatsinthe board of directors and the managementthroughstatutoryprocedures,whileeligiblemembersoftheboard ofdirectors andthe |
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managementwhoarealsoPartymembers maytakeseatsinthePartyCommitteein accordancewithrelevantrequirementsand procedures.
Generally,thepositionofthesecretaryof thePartyCommitteeandthechairmanof theboardofdirectorsshallbeassumedby thesameperson.Thepresidentwhoisa Partymembershallserveasthedeputy secretary of the Party Committee. The full- time deputy secretary should generally take seatintheboardofdirectorsandholdno positionsinthemanagement. |
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Article 109 Directors (excluding the employeerepresentativedirector)shallbeelectedattheshareholders'generalmeetingandtheemployeerepresentativedirectorshallbeelectedordismissedbytheemployeerepresentativemeetingeachforatermofthree(3)years(startingfromthe electiondatetothedateonwhichanewboardofdirectorsiselectedatashareholders'generalmeeting).Attheexpiryofadirector'sterm,thetermisrenewableuponre-election,provided that the term of reappointment of anindependentdirectorshallnotbemorethansix (6)years. |
Article 109 Directors (excluding the employeerepresentativedirector)shallbeelectedorreplacedattheshareholders'generalmeetingandtheemployeerepresentativedirectorshallbeelectedordismissedbytheemployeerepresentativemeetingeachforatermofthree(3)years(starting from the election date to the date onwhich a new board of directors is elected at ashareholders'generalmeeting).Attheexpiryofadirector'sterm,thetermisrenewableuponre-election,providedthatthetermofreappointment of an independent director shallnotbemorethansix(6)years. |
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Article 114 The board ofdirectorsisresponsibletotheshareholders'generalmeetingandshallexercisethefollowingdutiesandpowers:
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Article 114 Theboardofdirectorsisresponsibletotheshareholders'generalmeetingforformulatingstrategies,makingdecisionsandpreventingrisksandshallexercisethefollowingdutiesandpowersinaccordancewithstatutoryproceduresandtheArticlesofAssociation:
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(11) to appoint or dismiss the president of theCompany,secretarytotheboardofdirectorsanddeterminetheirremunerations;andtoappointordismiss,withreferencetothenominationbythepresident,thevicepresidents,chiefaccountant,chiefpilotandotherseniorofficersanddeterminetheirremunerations; |
(11) to appoint or dismiss the president of theCompany,secretarytotheboardofdirectors,conduct appraisal on their performance anddeterminetheirremunerations;andtoappointor dismiss, with reference to the nomination bythepresident,thevicepresidents,chiefaccountant,chiefpilot,generallegalcounselandotherseniorofficers,conductappraisalontheirperformanceanddeterminetheirremunerations; |
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(17) to exercise any other powers conferred bythe shareholders in general meetings and theseArticlesofAssociations.
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(17)todeterminetheriskmanagement system,theinternalcontrolsystemandthe legal compliance management system of the Company, and monitor the relevant systems andtheirimplementation; |
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(18) to guide, inspect and assess the internal auditworksandapprovetheannualaudit planandimportantauditreportspursuant tolaws; |
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(19) topromotethedevelopmentof corporategovernanceandsupervisethe legalityoftheoperationofthemanagement; |
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(2017)toexerciseanyotherpowersconferredbytheshareholdersingeneralmeetingsandtheseArticlesofAssociations. |
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Article 115 Uponauthorization bytheboardof directors, the Chairman may exercise part ofthefunctionsandpowersoftheboardofdirectors when the board of directors is not insession.IssuesinvolvingmaterialinterestsoftheCompanyshallbesubjecttocollectivedecisionbytheboardofdirectors. |
Article115 Uponauthorizationbytheboard of directors, the Chairman may exercise part of thefunctionsandpowersoftheboardof directors when the board of directors is not in session.Issuesinvolvingmaterialinterestsof theCompanyshallbesubjecttocollective decisionbytheboardofdirectors. The Chairmanoftheboardofdirectorsand |
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thepresidentmayexercisepartofthe functionsandpowersoftheboardof directorsuponauthorizationbytheboard ofdirectors.Theauthorizationbytheboard ofdirectorsandtheexerciseofthe authorizedfunctionsandpowersbythe authorizedpersonshallcomplywiththe relevantregulationsoftheMeasuresfor Authorization Management, which is formulatedbytheboardofdirectors. |
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Article118 Theboardofdirectorsmayestablishthestrategyandinvestmentcommittee,theauditandriskmanagementcommittee,thenominationandremunerationcommittee,theaviationsafetycommitteeandotherspecialcommittees.Themembers'composition,dutiesandresponsibilities,andproceduresofeachspecialcommitteeoftheboardofdirectorsarespecificallydeterminedaccordingtothetermsofreferenceofeachspecial committee, which are drawn up by theboardofdirectors. |
Article118 Theboardofdirectorsmayestablishthestrategyandinvestmentcommittee,theauditandriskmanagementcommittee(thesupervisioncommittee),thenominationandremunerationcommittee,theaviationsafetycommitteeandotherspecialcommittees. The members' composition, dutiesandresponsibilities,andproceduresofeachspecial committee of the board of directors arespecificallydeterminedaccordingtothetermsofreferenceofeachspecialcommittee,whicharedrawnupbytheboardofdirectors. |
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Article119 TheChairmanoftheboardofdirectorsshallexercisethefollowingpowers: |
Article119 TheChairmanoftheboardofdirectorsshallexercisethefollowingpowers: |
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(4) toconveneChairman'sofficemeeting;
(5) toexerciseotherpowersconferredbytheboardofdirectors. |
(4)tosignimportantdocumentsofthe boardofdirectorsandotherdocuments that shall be signed by the legal representativeoftheCompany; |
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(4)toconveneChairman'sofficemeeting; |
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(5)toexercisetheauthoritiesoflegal representative; |
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(6)toreceivereportsonoperationand managementandstudyrelatedissues; |
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(7) tomanagetheinternalauditofthe Company as the primary responsible person forinternalauditwork;
(8) intheeventofemergencyduetoforce majeureormajorcrisisthatmakesit impossible to convene a board meeting in a timelymanner,toexercisespecialdisposal powers within the authority of the board of directorsinaccordancewithlawsand regulationsandintheinterestsofthe Company,andtoreporttotheboardof directorsafterexercisingsuchpowersoas toratifythesameinaccordancewiththe procedures;
(95)toexerciseotherpowersconferredbytheboardofdirectors.
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Article 120 Meetings oftheboard ofdirectorsshallbeheldatleasttwiceeveryyear and shall be convened by the Chairman oftheboardofdirectors.Alldirectorsandsupervisorsshallbenotifiedofthemeetingfourteendaysbeforehand.Thenoticeoftheboardmeetingsshallcontain:
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Article 120 Meetings oftheboardofdirectorsshallbeheldatleastfourtimestwice every year and shall be convened by theChairmanoftheboardofdirectors.Alldirectorsandsupervisorsshallbenotifiedofthemeetingfourteendaysbeforehand.Thenoticeoftheboardmeetingsshallcontain:
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Article 121 Thenoticeofboardmeetingshallbeissuedviathefollowingmethods:
(1)Forregularmeetingsoftheboardofdirectorsofwhichthetimeandvenuehavebeenstipulatedbytheboardofdirectorsbeforehand,nonoticeoftheconveningofsuchmeetingswillbeneeded. |
Article 121 Thenoticeofboardmeetingshallbeissuedviathefollowingmethods:
(1)For regularperiodic meetingsof theboardof directors of which the time and venue havebeenstipulatedbytheboardofdirectorsbeforehand,nonoticeoftheconveningofsuchmeetingswillbeneeded. |
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(2)Formeetingsoftheboardofdirectorsofwhichthetime,venueandagendahavenotbeendecidedbytheboardofdirectorsbeforehand,thesecretaryoftheboardofdirectorsshallnotifythedirectorsandsupervisorsofthetimeandvenueofsuchmeetingatleast14daysinadvancebytelex,bytelegram,byfacsimile,byexpressserviceor by registered mail or in person or by email,unlessotherwiseprovidedforinArticle120herein. |
(2)Formeetingsoftheboardofdirectorsofwhichthetime,venueandagendahavenotbeendecidedbytheboardofdirectorsbeforehand,thesecretaryoftheboardofdirectorsshallnotifythedirectorsandsupervisorsofthetimeandvenueofsuchmeetingat least14daysinadvancebytelex,bytelegram,byfacsimile,byexpressserviceor by registered mail or in person or by email,unlessotherwiseprovidedforinArticle1210herein. |
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Article122 thirdparagraphAnyregularoradhocmeetingoftheboardofdirectorsmaybeheldbywayoftelephoneconferencingorsimilarcommunicationequipmentsolongasalldirectorsparticipatinginthemeetingcanclearly hear and communicate with each other.Allsuchdirectorsshallbedeemedtobepresentinpersonatthemeeting. |
Article122 thirdparagraphAnyregularoradhocmeetingoftheboardofdirectorsmaybeheldbywayoftelephoneconferencingorsimilarcommunicationequipmentInprinciple,theboardmeetingsshallbeconvenedintheformofon-sitemeetings.Whenthedirectorshavesufficientinformation to vote, they may also pass theresolutionbyformsofcommunicationsuchas video conference and teleconference, or acombinationofonsitemeetingandotherformsofcommunicationorpresentsuchinformationinwritingtobeconsideredseparatelyasawrittenresolution.Ifaboardmeetingisheldintheformofateleconference,withtheaidofsimilarcommunicationequipmentoracombinationofonsitemeetingandtheaforementioned forms of communication, solongasallthedirectorsparticipatinginthemeetingcanclearlyhearandcommunicatewitheachother,they.Allsuchdirectorsshallbedeemedtobepresentinpersonatthemeeting. |
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Article 125 Theboard of directors may |
Article 125 Theboard of directors may |
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acceptawrittenresolutionin lieuofaboard |
acceptawrittenresolutioninlieuofaboard |
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meetingprovidedthatadraftofsuchwritten |
meetingprovidedthatadraftofsuchwritten |
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resolutionshallbedeliveredtoeachdirectorin |
resolutionshallbedeliveredtoeachdirectorin |
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person,bymail,bytelegramorbyfacsimile.If |
person,bymail,bytelegramorbyfacsimile.If |
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theboard of directors has delivered such |
theboard of directors has delivered such |
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proposed written resolution to all the |
proposed written resolution to all the |
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directorsandthedirectorswhosignedand |
directorsandthedirectorswhosignedand |
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approvedsuch resolution have reached the |
approvedsuch resolution have reached the |
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requiredquorum, and the samehave been |
requiredquorum, and the same have been |
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deliveredtothesecretaryoftheboardof |
deliveredtothesecretaryoftheboard of |
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directors,suchresolutionshalltakeeffectasa |
directors,thensuchresolutionshalltakeeffect |
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boardresolution,withouthavingtoholda |
asaboardresolution,withouthavingtoholda |
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boardmeeting. |
boardmeeting. |
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Article126 Theboardofdirectorsshallkeep |
Article126 Theboardofdirectorsshallkeep |
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minutesofresolutionspassedatmeetingsof |
minutesofresolutionspassedatmeetingsof |
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theboardofdirectorsinChinese.Thedirectors |
theboardofdirectorsinChinese.Thedirectors |
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attendingtheboardmeetingshallhavethe |
attendingtheboardmeetingshallhavethe |
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rightto request to have the descriptive |
rightto request to have the descriptive |
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informationontheirspeechgiventhereatto |
informationontheirspeechgiventhereatto |
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berecordedintheminutes.Opinionsofthe |
berecordedintheminutes.Opinionsofthe |
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independent(non-executive)directorsshallbe |
independent(non-executive)directorsshallbe |
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clearlystatedintheresolutionsoftheboardof |
clearlystatedintheresolutionsoftheboardof |
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directors.Theminutesofeachboardmeeting |
directors.Theminutesofeachboardmeeting |
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shallbeprovidedtoallthedirectorspromptly. |
shallbeprovidedtoallthedirectorspromptly. |
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Directorswhowishtoamendorsupplement |
Directorswhowishtoamendorsupplement |
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the minutes shall submit the proposed |
the minutes shall submit the proposed |
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amendmentsto the Chairman in writing |
amendmentsto the Chairman in writing |
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withinoneweekafterreceiptofthemeeting |
withinoneweekafterreceiptofthemeeting |
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minutes.Theminutesshallbesignedbythe |
minutes.Theminutesshallbesignedbythe |
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directorspresentatthemeetingandtheperson |
directorspresentatthemeetingandtheperson |
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whorecorded the minutes after they are |
whorecorded the minutes after they are |
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finalised.The minutes of board meetings |
finalised.The minutes of board meetings |
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shallbekeptatthepremisesoftheCompany |
shallbekeptatthepremisesoftheCompany |
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inthePRCandacompletecopyoftheminutes |
inthePRCandacompletecopyoftheminutes |
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shallbepromptlysenttoeachdirector.The |
shallbepromptlysenttoeachdirector.The |
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minutesshallbekeptforaperiodofnotless |
minutesshallbekeptforaperiodofnotless |
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than10years. |
than10years. Documentsofmeetingsshall |
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bekeptaspermanentrecords. |
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Article 138 The secretary of the Company'sboardofdirectorsshallbeanaturalpersonwhohastherequisiteprofessionalknowledgeand experience, and shall be appointed by theboardofdirectors.
Themaintasksanddutiesofthesecretaryoftheboardofdirectorsinclude:
(1) assist thedirectorsintheday-to-dayworkof the board of directors, continuously providethedirectorswith,advisethedirectorsofandensurethatthedirectorsunderstandtheregulations,policiesandrequirementsoftheforeignanddomesticregulatoryauthoritiesontheoperationoftheCompany,assistthedirectorsandthepresidentineffectivelycomplyingwithrelevantforeignanddomesticlaws,regulations,theCompany'sArticlesofAssociationandotherrelevantregulations;
(2) responsiblefortheorganizationandpreparationofdocumentsforboardmeetingsandshareholders'meetings,takepropermeetingminutes,ensurethattheresolutionspassedatthemeetingscomplywithstatutoryproceduresandsupervisetheimplementationoftheresolutionsoftheboardofdirectors;
(3) responsiblefortheorganizationandcoordinationofinformationdisclosure,coordinatetherelationshipwithinvestorsandenhancetransparencyoftheCompany;
(4) participateinarrangingoffinancingthroughcapitalmarkets;
(5) dealwithintermediaries, regulatoryauthoritiesandmedia,maintaingoodpublicrelationswork; |
Article 138 The secretary of the Company'sboardofdirectorsshallbeanaturalpersonwhohastherequisiteprofessionalknowledgeand experience, and shall be appointed by theboardofdirectors.
Themain tasksandduties ofthe secretaryoftheboardofdirectorsinclude:
(1) assisttheboardofdirectorsofthe Companytostrengthenthedevelopmentof modernenterprisesystemandcorporate governance mechanism with Chinese characteristics, organize research on corporategovernanceandorganizethe formulationofrulesandregulationsin relationtocorporategovernance;
(2) toorganizetheimplementationofthe corporategovernancesystemandmanage therelevantaffairs;
(3) assistthedirectorsintheday-to-dayworkof theboardof directors,continuouslyprovidethedirectorswith,advisethedirectorsofandensurethatthedirectorsunderstandtheregulations,policiesandrequirementsoftheforeignanddomesticregulatoryauthoritiesontheoperationoftheCompany,assistthedirectorsandthepresidentineffectivelycomplyingwithrelevantforeignanddomesticlaws,regulations,theCompany'sArticlesofAssociationandotherrelevantregulations;
(42)responsiblefortheorganizationandpreparationofdocumentsforboardmeetingsandshareholders'meetings,takepropermeetingminutes,ensurethattheresolutionspassedatthemeetingscomplywithstatutoryproceduresandsupervisetheimplementationoftheresolutionsoftheboardofdirectors; |
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(6)executeothertasksassignedbytheboardofdirectorsorthechairmanoftheboardofdirectors. |
(53)responsiblefortheorganizationandcoordinationofinformation disclosure,coordinatetherelationshipwithinvestorsandenhancetransparencyoftheCompany;
(64)participateinarrangingoffinancingthroughcapitalmarkets;
(75)dealwithintermediaries, regulatoryauthoritiesandmedia,maintaingoodpublicrelationswork;
(8)assisttheChairmaninformulating majorproposals,establishingoramending various rules andregulationsforthe operationoftheboardofdirectors;
(96)executeother tasksassigned bytheboardofdirectorsorthechairmanoftheboardofdirectors;
(10)otherdutiesasstipulatedbylaws, administrativeregulations,rulesandthe listingrulesofthejurisdictionsinwhich thesharesoftheCompanyarelistedand other regulatorydocuments andthe Articles ofAssociation. |
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Article139 AdirectororotherseniormanagementpersonneloftheCompanymayalsoactasthesecretaryoftheboardofdirectors.ThecertifiedpublicaccountingfirmwhichhasbeenappointedbytheCompanytoactasitsauditorsshallnotactasthesecretaryoftheboardofdirectors.
Where the office ofsecretaryisheldconcurrentlybyadirector,andanactisrequiredtobedonebyadirectorandasecretary separately, the person who holds theofficeofdirectorandsecretarymaynotperformtheactinadualcapacity. |
Article139 AdirectororotherseniormanagementpersonneloftheCompanymayalsoactasthesecretaryoftheboardofdirectors.Thecertifiedpublicaccountingfirmwhich hasbeen appointedby theCompany toactasitsauditorsshallnotactasthesecretaryoftheboardofdirectors.
Where the office ofsecretaryisheldconcurrentlybyadirector,andanactisrequiredtobedonebyadirectorandasecretary separately, the person who holds theofficeofdirectorandsecretarymaynotperformtheactinadualcapacity. |
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Article141 TheCompanyshallhaveapresidentwhoshallbeappointedordismissedbytheboardofdirectors.
The Company shall have several vice president,onechieffinancialofficerandonechiefpilotwho shallassistthepresident.Thevicepresidents,chieffinancialofficerandchiefpilotshallbenominatedbythepresidentandappointedordismissedbytheboardofthedirectors. |
Article141 TheCompanyshallhaveapresidentwhoshallbeappointedordismissedbytheboardofdirectors.
The Company shall have several vice president,onechieffinancialofficer,andonechief pilot and one general legal counsel whoshallassistthepresident.Thevicepresidents,chieffinancialofficer,andchiefpilotandgenerallegalcounselshallbenominatedbythe president and appointed or dismissed by theboardofthedirectors. |
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Article 143 The president shall be accountabletotheboardofdirectors andshallexercisethefollowingfunctionsandpowers:
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(8)toproposetheappointmentordismissalofthe vice presidents, chief accountant and chiefpilotoftheCompany;
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Article 143 The president shall be accountabletotheboardofdirectors andshallexercisethefollowingfunctionsandpowers:
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(8)to proposetheappointment or dismissalofthe vice presidents, chief accountant, and chiefpilotandgenerallegalcounseloftheCompany;
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Article145 Inperformingtheirdutiesandpowers,thepresident,vicepresidents,chiefaccountant, chief pilot and other senior officersshall act honestly and diligently in accordancewithlaws,administrativeregulationsandtheArticlesofAssociation. |
Article145 Inperformingtheirdutiesandpowers,thepresident,vicepresidents,chiefaccountant,chiefpilot,generallegalcounseland other senior officers shall act honestly anddiligentlyinaccordancewith laws,administrativeregulationsandtheArticlesofAssociation. |
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Article205 TheCompany'sinternalauditsystemandtheresponsibilityoftheauditingpersonnelshallbecomeeffectiveaftertheapprovaloftheboardofdirectors.Thepersoninchargeoftheauditshallbeaccountabletotheboardofdirectors andshallreporttotheboardofdirectors. |
Article205 TheCompany'sbasicsystemsfor internal audit systemand internal controlassessmenttheresponsibilityoftheauditingpersonnelshallbecomeeffectiveaftertheapprovaloftheboardofdirectors.TheestablishmentoftheinternalauditinstitutionoftheCompanyandtheperson |
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incharge,who Thepersoninchargeofthe audit shallbeaccountabletotheboardofdirectorsandshallreporttotheboardofdirectors,aredeterminedbytheboardofdirectors. |
Note: Save as the table above, if the serial numbering of the chapters and articles is changed due to the addition, deletion or re-arrangement of certain articles, the serial numbering of the chapters and articles of the Articles of Association as so amended shall be changed accordingly, including references.
The proposed amendments to the Articles of Association are prepared in the Chinese language and the English version is therefore a translation only. In the event of any discrepancy between the English translation and the Chinese version of the Articles of Association, the Chinese version shall prevail.
APPENDIX II PROPOSED AMENDMENTS TO THE RULES AND PROCEDURES OF SHAREHOLDERS' MEETINGS
Set out below are the details of the proposed amendments to the Rules and Procedures of Shareholders' Meetings and revisions have been underlined (if applicable) for the convenience of perusal.
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CHAPTER1GENERALPROVISIONS |
CHAPTER1GENERALPROVISIONS |
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Article3 Meetingvenuesshallbefixedfortheshareholders'generalmeetings,andtheshareholders'generalmeetingsshallbeconvenedintheon-siteconferencemode.
On condition that the general meeting shall beheldlegallyandvalidly,theCompanyshalladopt safe, economical and convenient networkor other means to facilitate the shareholders toparticipate in the meeting as required by laws,administrativeregulations,CSRCandtheArticlesofAssociation.Shareholdersaredeemedtobepresentintheshareholders'generalmeetingsthroughtheaforesaidmeans. |
Article3 Meetingvenueswillshallbefixedfor the shareholders' general meetings, and theshareholders'generalmeetingsshallbeconvenedinthe on-site conference mode.TheCompanyshallalsoprovideconveniencefortheshareholdersattendinggeneralmeetingsbytheprovisionoftheonlinevoting.
On condition that the general meeting shall beheld legally and validly, the Company may setupothermeansandwaystoattendthegeneralmeetingshalladoptsafe,economicalandconvenientnetworkorothermeanstofacilitatetheshareholderstoparticipateinthemeetingasrequiredbylaws,administrativeregulations,CSRCandtheArticlesofAssociation.Shareholdersaredeemedtobepresentintheshareholders'generalmeetingsthroughtheaforesaidmeans. |
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Article7 ThesecretariatoftheCompany'sboardofdirectorsisresponsibleforallworksofpreparationandorganizationfor holdingofthegeneralmeetings. |
Article7 TheofficesecretariatoftheCompany'sboardofdirectorsisresponsibleforallworksofpreparationandorganizationforholdingofthegeneralmeetings. |
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CHAPTER3FUNCTIONSANDPOWERSOFTHESHAREHOLDERS' GENERALMEETING |
CHAPTER3FUNCTIONSANDPOWERSOFTHESHAREHOLDERS' GENERALMEETING |
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Article20 …
(2)AuthorityoftheBoardofDirectors…
2.Connectedtransactionsthataresubjecttotheapprovalofthemeetingoftheboardofdirectors (as defined under the relevant listingrulesofthejurisdictionswherethesharesoftheCompanyarelisted,asamendedfromtimetotime)including:
(1)inthetestsconductedontheconnectedtransactions(ThedefinitionofconnectedtransactionsshallbebasedontheListingRulesoftheStockExchange,asamendedfrom time to time.) based on assets ratio, profitratio,revenueratio,considerationratioandequitycapitalratio(inaccordancewiththeListingRulesoftheStockExchange,asamendedfromtimetotime.),eachoftheratiosisequaltoormorethan0.1%butlessthan 5%, unless the transaction consideration isless than HK$1 million; or each of the aboveratios is equal to or more than 5% but less than25%andthetransactionconsiderationislessthanHK$10million;or
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Article20 …
(2)AuthorityoftheBoardofDirectors…
2.Connectedtransactionsthataresubjecttotheapprovalofthemeetingoftheboardofdirectors (as defined under the relevant listingrulesofthejurisdictionswherethesharesoftheCompanyarelisted,asamendedfromtimetotime)including:
(1)inthetestsconductedontheconnectedtransactions(ThedefinitionofconnectedtransactionsshallbebasedontheListingRulesoftheStockExchange,asamendedfrom time to time.) based on assets ratio, profitratio,revenueratio,considerationratioandequitycapitalratio(inaccordancewiththeListingRulesoftheStockExchange,asamendedfromtimetotime.),eachoftheratiosisequaltoormorethan0.1%butlessthan 5%, unless the transaction consideration isless than HK$13 million; or each of the aboveratios is equal to or more than 5% but less than25%andthetransactionconsiderationislessthanHK$10million;or
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Article21 Theboardofdirectorsshallbeauthorizedbytheshareholders' generalmeetings to dispose of any fixed assets of theCompanywheretheestimatedvalueoftheconsideration for the proposed disposal and thevalueoftheconsiderationforanysuchdisposalofanyfixedassetsoftheCompanythathasbeencompletedintheperiodoffour |
Article21 Theboardofdirectorsshallbeauthorizedbytheshareholders' generalmeetings to dispose of any fixed assets of theCompanywheretheestimatedvalueoftheconsideration for the proposed disposal and thevalueoftheconsiderationforanysuchdisposalofanyfixedassetsoftheCompanythathasbeencompletedintheperiodoffour |
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(4) months immediately preceding the proposeddisposal,onanaggregatebasisexceeds33%ofthevalueoftheCompany'sfixedassetsasshowninthelatestbalancesheet which was considered at a shareholders'general meeting. If the abovementioned ratio islowerthan 0.2%, shareholders'generalmeetingsshallauthorisethepresident'sofficemeetings to approve the disposal of such fixedassets.Whenwhat'sprovidedaboveisinconsistentwiththatoftherulespertaininglistingofcorporatesecuritiesofthesecuritiesexchange,thelattershallprevail. |
(4) months immediately preceding the proposeddisposal,onanaggregatebasisexceeds33%ofthevalueoftheCompany'sfixedassetsasshowninthelatestbalancesheet which was considered at a shareholders'general meeting. If the abovementioned ratio islowerthan 0.2%, shareholders'generalmeetingsshallagreethattheboardofdirectorsshallauthorisethepresident'sofficemeetingstoapprovethedisposalofsuchfixedassets.Whenwhat'sprovidedaboveis inconsistent with that of the rules pertaininglistingofcorporatesecuritiesofthesecuritiesexchange,thelattershallprevail. |
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CHAPTER6NOTICEOFTHESHAREHOLDERS'GENERALMEETING |
CHAPTER6NOTICEOFTHESHAREHOLDERS'GENERALMEETING |
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Article37 WheretheCompanyconvenesageneralmeeting,awrittennoticeshallbegiven 45dayspriortothedateofthemeetingtonotify all the shareholders whose names appearontheregisterofshareholdersoftheissuestobe considered at the meeting and the date andvenueofthemeeting.
Noticeofshareholders'generalmeetingshallbe served on the shareholders (whether or notsuchshareholderisentitledtovoteatthemeeting),bypersonaldeliveryorbyprepaidmailtotheaddressoftheshareholderasshownintheregisterofshareholders.
FortheholdersofAshares,noticeofthemeetingsmaybeissuedbywayofpublicannouncement.Suchpublic announcementshallbepublishedinone(1)ormorenationalnewspapersdesignatedbythesecuritiesauthorityoftheState Councilwithintheintervalofforty-five(45)daystofifty(50)daysbeforethedateofthemeeting; |
Article37 WheretheCompanyconvenesa general meeting, a written notice shall be given 45dayspriortothedateofthemeetingto notify all the shareholders whose names appear ontheregisterofshareholdersoftheissuesto be considered at the meeting and the date and venueofthemeeting. Toholdanannual generalmeeting,theCompanyshallgivea written notice of the meeting to shareholders whoareentitledtoattendthegeneral meetingtwentydayspriortothemeeting. Toholdanextraordinarygeneralmeeting, theCompanyshallgiveawrittennoticeof themeetingtoshareholderswhoareentitled toattendthegeneralmeetingfifteendays priortothemeeting.
Wherethelaws,administrativeregulations, departmental rulesandtheregulatory authoritiesorstockexchangeintheplace where the shares of the Company are listed hasanyotherprovisions,suchprovisions shallprevail. |
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after the publication of such announcement, allholdersofAsharesshallbedeemedtohavereceivedthenoticeoftherelevantshareholders'meeting.
For holders of Overseas-Listed Foreign Shares,subjecttocompliancewiththelawsandregulationsandtherelevantlistingrules ofthejurisdictionswherethesharesoftheCompanyarelisted,thenoticeofshareholders'generalmeetingmayalsobeissuedbyothermeansasspecifiedinArticle231oftheArticlesofAssociation.
Unlessotherwiserequiredbyapplicablelaws,theaforesaiddurationof45daysisinclusiveof the date on which the notice is issued andexclusiveofthedateofthegeneralmeeting. |
Noticeofshareholders'generalmeetingshallbe served on the shareholders (whether or notsuchshareholderisentitledtovoteatthemeeting),bypersonaldeliveryorbyprepaidmailtotheaddressoftheshareholderasshownintheregisterofshareholders.
FortheholdersofAshares,noticeofthemeetingsmaybeissuedbywayofpublicannouncement.Suchpublic announcementshall be published in one (1) or more nationalnewspapersdesignatedbythesecuritiesauthorityoftheStateCouncilwithintheintervalofforty-five(45)daystofifty(50)days before the date ofthe meeting;after thepublicationofsuchannouncement,allholdersofAsharesshallbedeemedtohavereceivedthenoticeoftherelevantshareholders'meeting. |
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For holders of Overseas-Listed Foreign Shares,subjecttocompliancewiththelawsandregulationsandtherelevantlistingrulesofthejurisdictionswherethesharesoftheCompanyarelisted,thenoticeofshareholders'generalmeetingmayalsobeissuedbyothermeansasspecifiedinArticle231oftheArticlesofAssociation. |
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Unlessotherwiserequiredbyapplicablelaws,the aforesaid duration of 45 days is inclusive ofthedateonwhichthenoticeisissuedandexclusiveofthedateofthegeneralmeeting. |
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Article40 Theboardoranyotherconvener |
Article40 Theboardoranyotherconvener |
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shall specify in the notice issued to |
shall specify in the notice issued to |
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shareholdersthatshareholdersandauthorized |
shareholdersthatshareholdersandauthorized |
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proxiesintendingtoattendageneralmeeting |
proxiesintendingtoattendageneralmeeting |
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shalldelivertotheCompanytheirwritten |
shalldeliverto the Company their written |
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repliesconcerningtheirattendanceatsuchmeeting20dayspriortothedateofthemeeting. |
repliesconcerningtheirattendanceatsuch meeting20dayspriortothedateofthe meeting. |
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TheCompanyshall,basedonthewrittenreplieswhichitreceivesfromtheshareholderstwenty(20)daysbeforethedateof theshareholders'generalmeeting,calculatethe number of voting shares represented by theshareholderswho intendtoattendthe meeting.IfthenumberofvotingsharesrepresentedbytheshareholderswhointendtoattendthemeetingamounttomorethanonehalfoftheCompany'stotalvotingshares,theCompanymayholdthemeeting;ifnot,thentheCompanyshall,withinfive(5)days,furthernotifytheshareholdersbywayofpublicannouncementthemattersto be consideredat, and the place and date for, the meeting. TheCompanymaythenholdthemeetingafterpublicationofsuchannouncement. |
TheCompanyshall,basedonthewritten replies which it receives from the shareholderstwenty(20)daysbeforethedate oftheshareholders'generalmeeting,calculate the number of voting shares represented by the shareholderswhointendtoattendthemeeting. Ifthenumberofvotingsharesrepresentedby theshareholderswhointendtoattendthe meetingamounttomorethanonehalfofthe Company'stotalvotingshares,theCompany mayholdthemeeting;ifnot,thenthe Companyshall,withinfive(5)days,further notifytheshareholdersbywayofpublic announcementthemattersto be considered at, and the place and date for, the meeting. The Companymaythenholdthemeetingafter publicationofsuchannouncement. |
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Article80 Thesecretarytotheboardofdirectorsshallberesponsibleforkeepingwritten informationoftheregisterofattendees,powerofattorney,photocopiesofidentificationdocuments,statisticalinformationononlinevotingandothermeansofvoting,minutesofthemeetingandresolutionsofshareholders'meetingsfornolessthan10years. |
Article80 Article79 Thesecretarytotheboardofdirectorsshallberesponsibleforkeepingwritteninformationoftheregisterofattendees,powerofattorney,photocopiesofidentification documents, statistical informationononlinevotingandothermeansofvoting,minutesofthemeetingandresolutionsofshareholders'meetingsfornolessthan10years,andsuchdocumentsofthemeetingshallbekeptaspermanentrecords. |
Note: Save as the table above, if the serial numbering of the chapters and articles is changed due to the addition, deletion or re-arrangement of certain articles, the serial numbering of the chapters and articles of these Rules and Procedures of Shareholders' Meetings as so amended shall be changed accordingly, including the references.
The proposed amendments to the Rules and Procedures of Shareholders' Meetings are prepared in the Chinese language and the English version is therefore a translation only. In the event of any discrepancy between the English translation and the Chinese version of the Rules and Procedures of Shareholders' Meetings, the Chinese version shall prevail.
APPENDIX III PROPOSED AMENDMENTS TO THE RULES AND PROCEDURES OF MEETINGS OF THE BOARD
Set out below are the details of the proposed amendments to the Rules and Procedures of Meetings of the Board and revisions have been underlined (if applicable) for the convenience of perusal.
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CHAPTER1GENERALPROVISIONS |
CHAPTER1GENERALPROVISIONS |
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Article2 Asauthorizedbythegeneralmeeting,theboardofdirectorsshallberesponsible forthe operation andmanagementoftheCompany'sassets,andactsascentralbusiness decision-makingbodythatisaccountabletothegeneralmeeting. |
Article2 Asauthorizedbythegeneralmeeting,theboardofdirectorsshallberesponsiblefortheoperationandmanagementoftheCompany'sassets,andactsascentralbusiness decision-makingbodythatisaccountabletothegeneralmeeting.
Theboardofdirectorsshallupholdthe leadingroleofthePartyCommitteein settingtherightdirection,keepinginmind th ebigpicture,promotingthe implementation ofParty policiesand principles .Majoroperationand managementmattersoftheCompanyshall befirstsubmittedtothePartyCommittee forpre-studyanddiscussion. |
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CHAPTER2FORMATIONANDCOMMITTEESOFTHEBOARD |
CHAPTER2FORMATIONANDCOMMITTEESOFTHEBOARD |
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Article4 Directors(excludingtheemployeerepresentativedirector)shallbeelectedorchangedattheshareholders'generalmeeting,andtheemployeerepresentativedirectorshallbeelectedorchangedbytheemployeerepresentativemeeting,eachforatermofthreeyears.Attheexpiryofadirector'sterm,thetermisrenewableuponre-election,provided that the term of reappointment of anindependent director shall not be more than sixyears. Directors shall not be dismissed withoutreasonbeforetheexpiryofadirector'sterm.A |
Article4 Directors(excludingtheemployeerepresentativedirector)shallbeelectedorchangedattheshareholders'generalmeeting,andtheemployeerepresentativedirectorshallbeelectedorchangedbytheemployeerepresentativemeeting,eachforatermofthreeyears.Attheexpiryofadirector'sterm,thetermisrenewableuponre-election,provided that the term of reappointment of anindependent director shall not be more than sixyears. Directors shall not be dismissed withoutreasonbeforetheexpiryofadirector'sterm.A |
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director'stermstartsfromtheelectiondatetothe date on which a new board of directors iselectedatashareholders'generalmeeting. |
director'stermstartsfromtheelectiondatetothe date on which a new board of directors iselectedatashareholders'generalmeeting. |
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Article 6 The board of directors shall includeonechairmanandonedeputychairman,whoareelectedandremovedbyamajorityofdirectors.
TheChairmanoftheboardofdirectorsshallexercisethefollowingpowers:
(1) topresideovershareholders'generalmeetingsandtoconveneandpresideovermeetingsoftheboardofdirectors;
(2) tocheckontheimplementationofresolutionspassedbytheboardofdirectors;
(3) tosignthesecuritiescertificatesissuedbytheCompany;
(4) to sign material documents of the board ofdirectorsandotherdocumentswhichshallbesignedbythelegalrepresentativeoftheCompany;
(5) toexercisepowerofthelegalrepresentative; |
Article 6 The board of directors shall includeonechairman,whichisgenerallyservedbythesecretaryofthePartyCommittee,andonevicechairmen,whoareelectedandremovedbyamajorityofdirectors.
TheChairmanoftheboardofdirectorsshallexercisethefollowingpowers:
(1)todetermineanannualschedulefor periodicmeetingsoftheboardofdirectors;
(2)(1)topresideovershareholders'generalmeetingsandtoconveneandpresideovermeetingsoftheboardofdirectors;
(3)(2)tocheckontheimplementationofresolutionspassedbytheboardofdirectors;
(4)(3)tosignthesecuritiescertificatesissuedbytheCompany;
(5) (4) tosignmaterial documentsof theboardofdirectorsandotherdocumentswhichshallbesignedbythelegalrepresentativeoftheCompany; |
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(6) to exercise special disposal power as to themattersofthecompanyonthebasisofcomplyingwithlawsandregulationsandcorporateinterestsinthesituationofforcemajeuresuchastheoccurrenceofextraordinarynaturaldisasterandsubsequentlyreporttotheboardofdirectorsandtheshareholder'sgeneralmeetings;
(7) to convene Chairman's office meeting andlistentoreportsonoperationandmanagementoftheCompanyregularlyorirregularlyandconductresearchonrelatedissues;
(8) toexerciseotherpowersconferredbytheboardofdirectors. |
(6)(5) toexercisepowerofthelegalrepresentative;
(6) to exercise special disposal power as to the mattersofthecompanyonthebasisof complyingwithlawsandregulationsand corporateinterestsinthesituationofforce majeure such as the occurrence of extraordinar ynaturaldisaster,and subsequentlyreporttotheboardofdirectors andtheshareholder'sgeneralmeetings;
(7) to convene Chairman's office meeting and listento reportson operationandmanagement oftheCompanyregularlyorirregularlyand conductresearchonrelatedissues;
(7) tolistentoreportsonoperationand management andconductresearchon relatedissues;
(8) tomanagetheinternalauditofthe Company as the first responsible person for internalauditworks;
(9) intheeventofemergencyduetoforce majeureormajorcrisisthatmakesit impossible to convene a board meeting in a timelymanner,toexercisespecialdisposal powers within the authority of the board of directorsinaccordancewithlawsand regulationsandintheinterestsofthe Company,andtoreporttotheboardof directorsafterexercisingsuchpowersoas toratifythesameinaccordancewith relevantprocedures;
(10) (8)toexercise otherpowersconferredbytheboardofdirectors. |
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Article8 Theboardofdirectorsshallestablishastrategyandinvestmentcommittee,anauditandriskcontrolcommittee,anominationandremunerationcommittee,anaviationsafetycommitteeandotherspecialsubcommitteesinaccordancewithrelevantresolutionsoftheshareholders'generalmeeting.Thesespecialcommitteesshallconsiderspecificmattersandprovidetheir opinions and advice as a reference for theboard's decisionmakingbasedontheproposalsmade by the boardofdirectors,thechairmanoftheboardofdirectorsandtherecommendationsfromthepresident.
The members'composition, duties and responsibilities, andproceduresofeachspecialcommitteeoftheboardofdirectorsarespecificallydeterminedaccordingtothetermsofreferenceofeachspecialcommittee,whicharedrawnupbytheboardofdirectors. |
Article 8 Theboardofdirectorsshallestablishastrategyandinvestmentcommittee,anauditandriskcontrolcommittee(thesupervisioncommittee),anominationandremunerationcommittee,anaviationsafetycommitteeandotherspecialsubcommitteesinaccordancewithrelevantresolutionsoftheshareholders' generalmeeting.Thesespecialcommitteesshallconsiderspecificmattersandprovidetheiropinionsandadviceasareferencefortheboard's decisionmakingbasedontheproposalsmadebytheboardofdirectors,thechairmanoftheboardofdirectorsandtherecommendationsfromthepresident.
The members'composition, duties and responsibilities, andproceduresofeachspecialcommitteeoftheboardofdirectorsarespecificallydeterminedaccordingtothetermsofreferenceofeachspecialcommittee,whicharedrawnupbytheboardofdirectors. |
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CHAPTER3FUNCTIONSANDPOWERSOFTHEBOARDOFDIRECTORS |
CHAPTER3FUNCTIONSANDPOWERSOFTHEBOARDOFDIRECTORS |
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Article 9 The board of directors is responsible totheshareholders'generalmeetingandshallexercisethe followingdutiesandpowers:
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Article 9 The board of directors is responsible totheshareholders'generalmeetingforformulatingstrategies,makingdecisionsandpreventingrisksandshallexercisethefollowingdutiesandpowersinaccordancewithstatutoryproceduresandtheArticlesofAssociation:
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(11) to appoint or dismiss the president of theCompany,secretarytotheboardofdirectorsanddeterminetheirremunerations;andtoappointordismiss,withreferencetothenominationbythepresident,thevicepresidents,chiefaccountant,chiefpilotandotherseniorofficersanddeterminetheirremunerations,rewardsandpunishment;
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(17) to exercise any other powers stipulated bylaws,regulationsortheArticlesofAssociationsandconferredbytheshareholdersingeneralmeetings. |
(11) to appoint or dismiss the president of theCompany,secretarytotheboardofdirectors,conduct appraisal on their performance anddeterminetheirremunerations;andtoappointor dismiss, with reference to the nomination bythepresident,thevicepresidents,chiefaccountant,chiefpilot,generallegalcounselandotherseniorofficers,conductappraisalontheirperformanceanddeterminetheirremunerations,rewardsandpunishment;
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(17) todeterminetheriskmanagement system,theinternalcontrolsystemandthe compliancemanagementsystemofthe Company, and monitor the relevant systemsandtheirimplementation;
(18) to guide, inspect and assess the internal auditworksandapprovetheannualaudit planandimportantauditreportspursuant tolaws;
(19) topromotethedevelopmentof corporategovernanceandsupervisethe lawfulmanagementbythemanagement;
(20) (17) toexerciseanyotherpowersstipulatedbylaws,regulationsortheArticlesofAssociationsandconferredbytheshareholdersingeneralmeetings. |
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Article11 Theapprovalauthorityoftheboardofdirectorsinrelationtothedecisionsconcerning transactions,investments andguarantees,etc.isasfollows:
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Article11 Theapprovalauthorityoftheboardofdirectorsinrelationtothedecisionsconcerning transactions,investments andguarantees,etc.isasfollows:
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(2)Connected transactions which shall be |
(2)Connected transactions which shall be |
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subject to the approval of the board of director s (the term 「 connecte d transactions 」 as |
subject to the approval of the board of director s (the term 「 connecte d transactions 」 as |
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definedundertherelevantlistingrulesofthe |
definedunder therelevantlistingrulesof the |
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placewherethesharesoftheCompanyare |
placewherethesharesoftheCompanyare |
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listed,asamendedfromtimetotime)include |
listed,asamendedfromtimetotime)include |
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specifically: |
specifically: |
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1.inthesizetestsconductedontheconnected |
1.inthesizetestsconductedontheconnected |
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transactions (The definition of connected |
transactions (The definition of connected |
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transactionsshall be based on the Listing |
transactionsshall be based on the Listing |
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RulesoftheStockExchange,asamended |
RulesoftheStockExchange,asamended |
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fromtimetotime.)basedonassetsratio, |
fromtimetotime.)basedonassetsratio, |
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revenueratio,considerationratioandequity |
revenueratio,considerationratioandequity |
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capitalratio(inaccordancewiththeListing |
capitalratio(inaccordancewiththeListing |
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RulesoftheStockExchange,asamendedfrom |
RulesoftheStockExchange,asamendedfrom |
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timetotime.),eachoftheratiosisequaltoor |
timetotime.),eachoftheratiosisequaltoor |
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morethan0.1%butlessthan5%,unlessthe |
morethan0.1%butlessthan5%,unlessthe |
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transactionconsiderationislessthanHK$1 |
transactionconsiderationislessthanHK$13 |
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million;oreachoftheaboveratiosisequalto |
million;oreachoftheaboveratiosisequalto |
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ormorethan5%butlessthan25%andthe |
ormorethan5%butlessthan25%andthe |
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transactionconsiderationislessthanHK$10 |
transactionconsiderationislessthanHK$10 |
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million; |
million; |
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Article12 Theauthorityoftheboardtoapprove the disposals of the Company's fixedassets: |
Article12 TheauthorityoftheboardtoapprovethedisposalsoftheCompany'sfixedassets: |
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Theboardofdirectorsshallnot,withouttheprior approvalofshareholdersinashareholders'generalmeeting,disposeoforagreetodisposeofanyfixedassetsoftheCompany,unlesstheestimatedvalueoftheconsiderationforafixedassettobedisposedof and the value of consideration for any suchdisposals of fixed assets of the Company for aperiod of four (4) months prior to the proposeddisposal,onanaggregatedbasisdoesnotexceed33%ofthevalueoftheCompany's |
Theboardofdirectorsshallnot,withouttheprior approvalofshareholdersinashareholders'generalmeeting,disposeoforagreetodisposeofanyfixedassetsoftheCompany,unlesstheestimatedvalueoftheconsiderationforafixedassettobedisposedof and the value of consideration for any suchdisposals of fixed assets of the Company for aperiod of four (4) months prior to the proposeddisposal,onanaggregatedbasisdoesnotexceed33%ofthevalueoftheCompany's |
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fixedassetsasshowninthelatestbalancesheet tabled at a shareholders' general meeting.Shouldtheabovepercentagebelowerthan0.2%,thedisposalofthosefixedassetsshallbesubjecttotheapprovalofthepresident'sofficeundertheauthoritygrantedattheshareholders'generalmeeting.Should therebeanyinconsistencybetweentheprecedingrequirementsandprovisionsofthestockexchangeonwhichtheCompany'ssharesarelistedandtradedinrespectoftheissue,thelattershallprevail.
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fixedassetsasshowninthelatestbalancesheet tabled at a shareholders' general meeting.Shouldtheabovepercentagebelowerthan0.2%, the disposal of those fixed assets shall besubject to the approval of the president's officeunder the authority granted at the shareholders'generalmeetingbytheboardofdirectors.Should there be any inconsistency between theprecedingrequirementsandprovisionsofthestockexchangeonwhichtheCompany'ssharesarelistedandtradedinrespectoftheissue,thelattershallprevail.
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Article14 Duringtherecessoftheboardmeeting,thechairmanoftheboard,withauthorizationfromtheboard,mayperformpartialdutiesoftheboard.
Thechairmanshallbeauthorizedbytheboardinaccordancewiththefollowingprinciples:
(1) to focusontheoperation anddevelopmentof the Company, to make good use of marketopportunitiesandtoensuresmoothandefficientoperationoftheCompany;
(2) tobeflexibleandpragmatic,toavoidexcessive formalities on condition that it is notagainsttheArticlesofAssociation,andtoensure the business decision of the Company ismadeinatimelymanner;
(3) nottoharmtheinterestsoftheCompanyandshareholdersasawhole,especiallythelegalinterestsofminorityshareholders. |
Article 14 The chairman of the board andthepresidentmay,totheextentauthorizedbytheboardofdirectors,performpartialdutiesoftheboard.Thegrantofauthorization by the board of directors andtheexerciseofauthorizationbytheauthorizeeshallcomplywiththerelevantrequirementsoftheAuthorizationManagementMeasures,whichshallbeformulatedbytheboardofdirectors. Duringtherecessoftheboardmeeting,the chairman of the board, with authorization from theboard,mayperformpartialdutiesofthe board.
Thechairmanshallbeauthorizedbytheboard inaccordancewiththefollowingprinciples:
(1)tofocusontheoperationanddevelopment of the Company, to make good use of market opportunities andtoensuresmoothand efficientoperationoftheCompany; |
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(2) tobeflexibleandpragmatic,toavoid excessive formalities on condition that it is not againsttheArticlesofAssociation,andto ensure the business decision of the Company is madeinatimelymanner;
(3) nottoharmtheinterestsoftheCompany andshareholdersasawhole,especiallythe legalinterestsofminorityshareholders. |
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CHAPTER4RULESFORBOARDMEETINGS |
CHAPTER4RULESFORBOARDMEETINGS |
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Article15 Theboardmeetingsincluderegularboardmeetingsand extraordinaryboardmeetings.Regularboardmeetingsinclude:annualmeetings,interimmeetings,first-quartermeetingsandthird-quartermeetings.
(1) Regularboardmeetings
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(2) Extraordinaryboardmeetings
Ifanyofthefollowingcircumstancesoccurs,thesecretarytotheboardofdirectorsshallissueanoticeconveninganextraordinaryboardmeetingwithinten(10)dayswhichshallnotbelimitedbythenoticeperiodprescribedinArticle25hereof:
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8.theArticlesofAssociationoftheCompanyprovideothercircumstancesforconveningit. |
Article15 Theboardmeetingsincluderegularperiodicboardmeetingsandextraordinaryboard meetings.RegularPeriodicboardmeetingsinclude:annualmeetings,interimmeetings,first-quartermeetingsandthird-quartermeetings.
(1) RegularPeriodicboardmeetings
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(2) Extraordinaryboardmeetings
Ifanyofthefollowingcircumstancesoccurs,thesecretarytotheboardofdirectorschairmanshallissueanoticeconveninganextraordinaryboardmeetingwithinten(10)days upon receipt of the proposalwhich shallnotbelimitedbythenoticeperiodprescribedinArticle25hereof:
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8.theArticlesofAssociationoftheCompanyprovideothercircumstancesforconveningit. |
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Article 16 The board meetings may be heldon-site,byconferencecallorbywrittenresolutions.
The board meetings may be held by conferencecall or other similar communication equipment,provided that the attending directors are able tohearclearlyotherdirectors'speechatthemeetingandcommunicateamongthemselves.Allattendingdirectorsshallbeconsideredasbeing present at the meetings. In the event thattheattendingdirectorsareunabletosignonthe resolutions on site, they shall express theiropinionsorallyduringthemeetingandcompletethesigningproceduresassoonaspossible.Theoralvoteofdirectorsshallhavethe sameauthenticity as signaturesin writing,providedthatthesubsequentsignaturesinwritingshallbeconsistentwiththeoralvoteatthemeeting.
When the board of directors accepts discussiononanymotioninwrittenforminsteadofholdingaboardmeeting,thedraftofthemotion must be sent to each director by hand,post,telegraph,facsimiletransmissionoremail.Inaddition,whenthenumberofthedirectorssignedonthedraftsatisfiesthequorumrequiredbylaws,regulationsandtheArticlesofAssociation,andthemotionhasbeensenttosecretarytotheboardbyforegoingmethods,suchmotionshallbedeemedastheboardresolution,thennofurtherboardmeetingwillbenecessary.However,regularboardmeetingsshallnotresolve on any motion in such a way of writtenmotions.Furthermore,iftheboardconsidersthat any major shareholder or director has anymaterialconflictofinterestsinanymotiontoberesolvedataboardmeeting(asdefinedby |
Article16 Theboardmeetings maybeheld on-site,byconferencecallorbywritten resolutions. In principle, the board meetings shallbeconvenedintheformofon-site meetings. When the directors have sufficient information to vote, they may also pass the resolutionbymeansofvideoconference, teleconference,oracombinationofonsite meetings and other methods or present such informationinwritingtobeconsidered separatelyasawrittenresolution.
If T t he board meetings aremay be held in theform of a teleconference, with the aid ofbyconference call or other similar communicationequipment,oracombinationofonsitemeetingandtheaforementionedformsofcommunication,andso longasprovided thatthe attending directors are able to hear clearlyotherdirectors'speechatthemeetingandcommunicate amongthemselves, All attendingdirectorstheyshallbeconsideredasbeingpresentatthemeetings.Intheeventthattheattendingdirectorsareunabletosignontheresolutionsonsite,theyshallexpresstheiropinionsorallyduringthemeetingandcompletethesigningproceduresassoonaspossible.The oralvoteof directorsshall havethesameauthenticityassignaturesinwriting,providedthatthesubsequentsignaturesinwritingshallbeconsistentwiththeoralvoteatthemeeting.
Whentheboardofdirectorsacceptsdiscussiononanymotioninwrittenforminsteadofholdingaboardmeeting,thedraftofthemotion must be sent to each director by hand,post,telegraph,facsimiletransmissionoremail.Inaddition,whenthenumberofthedirectorssignedonthedraftsatisfiesthe |
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applicabledomesticandoverseasregulations),suchmotionshallnotberesolvedinsuchawayofwrittenmotions. |
quorumrequiredbylaws,regulationsandtheArticlesofAssociation,andthemotionhasbeensenttosecretarytotheboardbyforegoingmethods,suchmotionshallbedeemedastheboardresolution,thennofurtherboardmeetingwillbenecessary.However,regularperiodicboardmeetingsshallnotresolveonanymotioninsuchawayofwrittenmotions.Furthermore,iftheboardconsidersthat anymajorshareholder ordirector has any material conflict of interests inanymotiontoberesolvedataboardmeeting(asdefinedbyapplicabledomesticandoverseasregulations),suchmotionshallnotberesolvedinsuchawayofwrittenmotions. |
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Article 19 Directors shall attend the meetingsoftheboardofdirectorsinperson.Whereadirector is unable to attend a meeting for anyreason, he may by a written power of attorneyappointanotherdirectortoattendthemeetingonhisbehalf.Thepowerofattorneyshallsetout the names of the proxies, the matters to bedealtwithbytheagents,thescopeoftheauthorizationandtheeffectivetermthereof.Thepowersofattorneyshallbesignedorsealedbytheprincipals. |
Article 19 Directors shall attend the meetingsoftheboardofdirectorsinperson.Whereadirector is unable to attend a meeting for anyreason, he may by a written power of attorneyappointanotherdirectortoattendandvoteatthe meeting on his behalf. The appointor shallcarefullyreviewthemeetingmaterialsinadvanceandform clearopinions. Thepowerofattorneyshallsetoutthenamesoftheproxies,thematterstobedealtwithbytheagents,thescopeoftheauthorization,proxyvote and the effective term thereof. The powersofattorneyshallbesignedorsealedbytheprincipals. |
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CHAPTER6NOTICEOFMEETINGS |
CHAPTER6NOTICEOFMEETINGS |
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Article 25 The notice of the board meetingsshall be given in accordance with the followingrequirements:
(1)Forregularmeetingsoftheboardofdirectorsofwhichthetimeandvenuehavebeenstipulatedbytheboardofdirectorsbeforehand,nonoticeoftheconveningof |
Article 25 The notice of the board meetingsshall be given in accordance with the followingrequirements:
(1)For regularperiodic meetingsof theboardof directors of which the time and venue havebeenstipulatedbytheboardofdirectorsbeforehand,nonoticeoftheconveningof |
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suchmeetingswillbeneededunlessthetimeandplaceofregularboardmeetingarechanged.Theagendaandrelevantdocumentsof the meeting shall be given to all directors,supervisorsandotherpersonsattendingthemeetingatleast3daysinadvance;
(2) Formeetingsoftheboardofdirectorsofwhichthetimeandvenuehavenotbeendecidedbytheboardofdirectorsbeforehand,thesecretaryoftheboardofdirectorsshallnotifyalldirectors,supervisorsandotherpersonsattendingthemeetingofthetime,venue and agenda of such meeting at least 14daysinadvancebyfacsimile,byexpressservice,byregisteredmail,inpersonorbyemail.
(3) IfanextraordinaryboardmeetingisproposedtobeconvenedinaccordancewithArticle15herein,thesecretarytotheboardshall issue a notice of the extraordinary boardmeetingwithin10daysfromthereceiptofsuchproposal,andthenoticeperiodofthemeetingshallnotbesubjecttotheforegoingprovisionsofthisArticle.
(4) NoticeofmeetingsmaybeservedinChinese,withanEnglishtranslationattachedtheretowhennecessary.Adirectormaywaivehisrighttoreceivenoticeofaboardmeeting. |
suchmeetingswillbeneededunlessthetimeandplaceofregularperiodicboardmeetingarechanged.Theagendaandrelevantdocumentsoftheperiodicboardmeetingshall be given to all directors, supervisors andotherpersonsattendingthemeetingat least3daysinadvance;
(2) Formeetingsoftheboardofdirectorsofwhichthetimeandvenuehavenotbeendecidedbytheboardofdirectorsbeforehand,thesecretaryoftheboardofdirectorsshallnotifyalldirectors,supervisorsandotherpersonsattendingthemeetingofthetime,venue and agenda of such meeting at least 14daysinadvancebytelex,bytelegram,byfacsimile,byexpressservice,byregisteredmail,inpersonorbyemail.;
(3) IfanextraordinaryboardmeetingisproposedtobeconvenedinaccordancewithArticle15herein,thesecretarytotheboardshall issue a notice of the extraordinary boardmeetingshallusuallybedeliveredtoalldirectors5daysbeforeconveningtheextraordinarymeetingwithin10daysfromthereceiptofsuchproposal,andthenoticeperiodofthemeetingshallnotbesubjecttotheforegoingprovisionsofthisArticle.
(4) NoticeofmeetingsmaybeservedinChinese,withanEnglishtranslationattachedtheretowhennecessary. Adirectormaywaivehisrighttoreceivenoticeofaboardmeeting. |
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CHAPTER7CONSIDERINGANDVOTINGONPROPOSEDRESOLUTIONS |
CHAPTER7CONSIDERINGANDVOTINGONPROPOSEDRESOLUTIONS |
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Article31 Whenreviewingtherelevantmotions and items, in order to understand themainpointsandsituationsindetail,theboard |
Article31 Whenreviewingtherelevantmotions and items, in order to understand themainpointsandsituationsindetail,theboard |
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mayrequireheadsoftherelevant departmentstoattendthemeetingtoanswerrelevantquestions.Ifanyproposalbeingconsideredatthe meeting is found unclear or infeasible to befullydiscussed,theboardshalladjournthediscussiononthatsubject. |
mayrequireheadsoftherelevantdepartments toattendthemeetingtoanswerrelevant questions.Ifanyproposalbeingconsideredat the meeting is found unclear or infeasible to be fullydiscussed,theboardshalladjournthe discussiononthatsubject. theboardmay arrangetherelevantseniormanagement, headsofthefunctionaldepartmentsand expertstoattendthemeetingsasnecessary toelaborate,receiveinquiryorgiveadvice onthemotionsinvolved.Whenconsidering mattersinvolvinglegalissues,thegeneral counselshallattendtheboardmeetingand expresslegalopinions.
Ifthemotionisconsideredtowarrant furtherstudyormaterialchangesbasedon the review opinions of the board, the motion shallbeamendedandimprovedforreview according to the time and method determinedbythemeetingoftheboard. |
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Article 34 Inreviewingtheproposedresolutionsattheboardmeeting,alldirectorspresentatmeetingsshall declaretheiraffirmative,dissentingvotesorabstainingopinions.
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Article 34 Inreviewingtheproposedresolutionsattheboardmeeting,alldirectorspresentatmeetingsshall declaretheiraffirmative,dissentingvotesorabstainingopinions.Thedirectorsshallprovidespecificreasonsfordissentingvotesorabstaining opinionsandrecordthe sameintheminutes.
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Article 35 If a director fails to attend a boardmeetinginpersonorbyproxy,heshallbedeemed to have waived his rights to vote at themeeting. |
Article35Thedirectorsshallattendtheboardmeetingsinperson.Adirectormay,incaseheisunabletoattendameeting,entrust another director in writing to attendand exercise the right of vote on his behalf.However,anindependentdirectorshallnotappointanon-independentdirectortoattendthemeetingonhisbehalf. Ifa |
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directorfailstoattendaboardmeetinginperson or by proxy, he shall be deemed to havewaivedhisrightstovoteatthemeeting. |
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CHAPTER8RESOLUTIONSANDMINUTESOFTHEMEETINGS |
CHAPTER8RESOLUTIONSANDMINUTESOFTHEMEETINGS |
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Article 43 The minutes of the board meetingshall record in detailthe mattersdiscussed bythedirectors.Theminutesshallstatethefollowing:
(1)thedateandplaceofthemeeting,andthenameofconvenerofthemeeting;
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Article 43 The minutes of the board meetingshallrecordindetailthemattersdiscussedbythedirectors.Theminutesshallstatethefollowing:
(1) the date and place of the meeting, and thename of convener and the person presiding ofthemeeting;
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Article45 Aftertheminutesarefinalized,directors,secretarytotheboardofdirectorsandrecorder(s)presentatmeetingsshallsignthe minutes. Each director shall be entitled torequestforanexplanationofhiscommentsmadeatthemeetingstobenotedintheminutes.SuchminutesshallbekeptasimportantdocumentsoftheCompanyinitsdomicilelocatedinChina foraperiod ofnotlessthan10years. |
Article45 Aftertheminutesarefinalized,directors,secretarytotheboardofdirectorsandrecorder(s)presentatmeetingsshallsignthe minutes.Eachdirector shallbe entitled torequestforanexplanationofhiscommentsmadeatthemeetingstobenotedintheminutes.SuchminutesshallbekeptasimportantdocumentsoftheCompanyinitsdomicilelocatedinChinaandshallbepreservedpermanentlyforaperiodofnotlessthan10years. |
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CHAPTER9BOARDMEETINGINFORMATIONDISCLOSURE |
CHAPTER9BOARDMEETINGINFORMATIONDISCLOSURE |
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Article47 TheboardoftheCompanyshallstrictlycomplywiththelaws,regulationsandrequirementsofthestockexchangeonwhichtheCompany'ssharearelistedandtransactedin relation to the disclosure of the Company'sinformation.Itshallensurethatmattersexaminedand/orresolutionspassedattheboardmeetingaredisclosedtruly,accurately,thoroughlyandinatimelymanner. |
Article47 TheboardoftheCompanyshallstrictlycomplywiththelaws,regulationsandrequirementsofthestockexchangeonwhichthe Company'sshareare listedand transactedin relation to the disclosure of the Company'sinformation.Itshallensurethatmattersexaminedand/orresolutionspassedattheboardmeetingaredisclosedfairly,truly,accurately,thoroughlyandinatimelymanner. |
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ExistingArticlesoftheRulesandProceduresofMeetingsoftheBoard |
RevisedArticles |
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CHAPTER10IMPLEMENTATIONOFTHERESOLUTIONSOFTHEBOARDMEETINGANDFEEDBACKS |
CHAPTER10IMPLEMENTATIONOFTHERESOLUTIONSOFTHEBOARDMEETINGANDFEEDBACKS |
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Article 49 The following matters shall not becarriedoutuntiltheyareexaminedandapprovedbytheboardofdirectorsandsubmittedtoandapprovedbytheshareholders'generalmeeting:
(1) toformulatetheCompany'spreliminaryandfinalannualfinancialbudgets;
(2) toformulatetheCompany'sprofitdistributionproposaland lossrecoveryproposal;
(3) toformulateproposalsfortheincreaseorreductionoftheCompany'sregisteredcapital;
(4) to formulate the issuance of the Company'sdebentures;
(5) todrawuptheCompany'sproposalsforthemerger,division,dissolutionorchangeoftheformoftheCompany;
(6) toformulate proposals for anyamendmentoftheCompany'sArticlesofAssociation;
(7) tomakerecommendationstotheshareholders'generalmeetingsontheappointment or change of the accounting firmwhichperformstheauditworkfortheCompany. |
Article49 Thefollowingmattersthatshallbedecidedbythegeneralmeeting shallnotbecarriedoutuntiltheyareexaminedandapprovedbytheboardofdirectorsandsubmittedtoandapprovedbytheshareholders'generalmeeting:.
(1) toformulatetheCompany'spreliminary andfinalannualfinancialbudgets;
(2) toformulatetheCompany'sprofit distribution proposal and loss recovery proposal;
(3) toformulateproposalsfortheincreaseor reductionoftheCompany'sregisteredcapital;
(4) to formulate the issuance of the Company's debentures;
(5) to draw up the Company's proposals for the merger,division,dissolutionorchangeofthe formoftheCompany;
(6) toformulateproposalsforanyamendment oftheCompany'sArticlesofAssociation;
(7) tomakerecommendationstothe shareholders' general meetings onthe appointmentorchangeoftheaccounting firm whichperformstheauditworkforthe Company. |
Note: Save as the table above, if the serial numbering of the chapters and articles is changed due to the addition, deletion or re-arrangement of certain articles, the serial numbering of the chapters and articles of these Rules and Procedures of Meetings of the Board as so amended shall be changed accordingly, including references.
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