Beijing Haizhi Technology Group Co., Ltd. issued an announcement outlining the organizational framework and responsibilities of its Remuneration and Appraisal Committee. According to the document, the committee is tasked with formulating and reviewing remuneration policies for directors and senior management, conducting performance assessments, and ensuring compliance with relevant regulations and the company’s Articles of Association.

The announcement emphasizes that the committee will propose remuneration plans based on positions’ scope of work and responsibilities, and will supervise their implementation. Members must be directors of the company, with a majority constituting independent non-executive directors. The chairman of the committee, also an independent non-executive director, oversees meeting proceedings and coordinates committee activities.

The document specifies that the committee convenes at least once annually, and any additional meetings may be called as needed. Resolutions require a majority vote, and discussions involving a committee member’s own remuneration require that member to abstain. The committee is also responsible for reviewing share incentive arrangements to ensure they align with Chapter 17 of the Listing Rules and other regulatory provisions.

The terms of reference become effective upon the board’s approval and the date of listing and trading of the company’s H shares on the Hong Kong Stock Exchange. Any revisions resulting from updated laws, listing rules, or amendments to the Articles of Association will be promptly incorporated to maintain compliance.