Shenzhen Expressway Corporation Limited has introduced detailed guidelines for its Remuneration and Appraisal Committee, establishing clear procedures for formulating and reviewing remuneration policies for directors and senior management. The regulations outline the committee’s accountability to the board of directors, its responsibilities for designing performance assessments, and its authority to propose compensation arrangements.

According to the announcement, the committee comprises three to five members, with a majority of independent directors. The chair must be an independent director, and individuals under evaluation may not serve as members. The guidelines specify procedures for formulating remuneration proposals, reviewing performance assessment criteria for senior management, and setting or adjusting incentives such as equity plans and stock ownership plans.

The committee is required to hold at least one regular meeting annually, with notice provided five days in advance. Meetings may be convened in person or via teleconference if necessary, and resolutions require the approval of more than half the members. If a member has a conflict of interest in matters under discussion, the member must abstain.

The document also states that any recommendations from the committee must be reported to the board and may need to be submitted for shareholder approval. The human resources department provides necessary support to the committee, while external professionals may be consulted as needed. These regulations take effect upon board approval and will be updated in a timely manner to ensure compliance with applicable laws and listing requirements.