Board of Directors

The Board of Directors (BOD) is the highest body responsible for corporate strategy, operations management, and customer satisfaction. The BOD's mission is to lead the company forward. It exercises decision-making authority for corporate strategy and operations management, and ensures customer and shareholder interests are protected.

The main responsibilities of the BOD are to:

• Develop proposals for corporate governance.
• Review proposals to increase or decrease the company's registered capital, as well as proposals related to profit distribution and loss recovery.
• Review the company's stock options plan and other long-term incentive plans.
• Review or approve the company's plans for entering and exiting different industries, and approve the company's strategic plan.
• Approve major organizational restructuring, management system development, and business transformation.
• Approve major financial policies, financial plans, and business transactions.
• Approve the company's annual budget proposal, annual operations report, and annual audit report.
• Approve the appointment/removal, compensation, and long-term incentives of senior management.
• Approve major HR policies and plans at the corporate level.
• Approve proposals for managing major risks and crises, and manage major emergencies.
• Approve the development of internal controls and compliance systems.

In 2023, the BOD held 12 meetings. At the meetings, the BOD reviewed and approved matters such as the company's medium-to-long-term strategic plan, as well as the company's annual business plan, audit report, profit distribution, and capital increases.

The BOD has 17 members, who are elected by the Commission and then voted in by the Shareholders' Meeting. In March 2023, a new BOD was elected, resulting in a new set of regular and alternate directors. The BOD elected deputy chairs and executive directors, and determined the directors who will attend BOD Executive Committee meetings as non-voting attendees.

Members of the current BOD are as follows:

• Chairman: Mr. Liang Hua
• Deputy Chairs/Rotating Chairs: Mr. Xu Zhijun, Mr. Hu Houkun, and Ms. Meng Wanzhou
• Executive directors: Mr. Wang Tao, Mr. Zhang Ping'an, Mr. Yu Chengdong, and Mr. Li Jianguo
• Directors who will attend BOD Executive Committee meetings as non-voting attendees: Ms. He Tingbo and Mr. Zheng Liangcai
• Directors: Mr. Ren Zhengfei, Mr. Tao Jingwen, Mr. Peng Bo, Mr. Zha Jun, Mr. Hou Jinlong, Mr. Yang Chaobin, and Mr. Ying Weimin

In the event that there is a vacancy in the BOD, alternate directors will take up the vacancy in a predetermined sequence. Alternate directors are Mr. He Gang, Mr. Bai Yi, Mr. Cao Jibin, Mr. Zhou Hong, Mr. Bian Honglin, Mr. Jin Yuzhi, Mr. Lu Yong, Mr. Zou Zhilei, Mr. Jiang Yafei, Mr. Hu Kewen, and Mr. Wang Huanan.

The BOD has established the Executive Committee, which acts as the standing executive body of the BOD. Entrusted by the BOD, the Executive Committee examines and reflects on major issues within the company, decides on issues authorized by the BOD, and oversees their execution. In 2023, the BOD Executive Committee held 17 meetings.

Members of the current BOD Executive Committee are Mr. Xu Zhijun, Mr. Hu Houkun, Ms. Meng Wanzhou, Mr. Wang Tao, Mr. Zhang Ping'an, Mr. Yu Chengdong, and Mr. Li Jianguo.

The BOD and its Executive Committee are led by rotating chairs. During their term, each rotating chair serves as the foremost leader of the company. The term of each rotating chair lasts six months.