A robust corporate governance system is essential for compliance and long-term value creation.COSCO SHPPING Energy remains dedicated to enhancing its governance system and risk management mechanism,upholding the Code of Business Ethics,and ensuring transparent,efficient communication with stakeholders.We also advance the development of an ESG management system to establish a strong foundation for high-quality development.

Corporate Governance

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COSCO SHIPPING Energy strictly adheres to regulatory requirements in China and abroad and corporate governance standards for listed companies. In accordance with the Articles of Association, we continuously refine the working protocols and procedures of the Board of Directors and its specialized committees. We have established a robust governance system centered on the Shareholders' Meeting, the Board of Directors, the Board of Supervisors, and specialized committees.

The Shareholders' Meeting

The General Meeting provides a direct channel for the Board of Directors to communicate and establish a positive relationship with shareholders. To ensure equal participation and the exercise of shareholders' rights, we convene the General Meeting annually in strict accordance with the procedures stipulated in relevant laws, regulations, and the Articles of Association.

The Board of Directors

Elected by the Shareholders' Meeting, we have formulated rules of procedure for the Board of Directors, to ensure that the Board makes well-informed, rational decisions and effectively implements the resolutions of the Shareholders' Meeting.

To promote board diversity, we have developed and implemented the Board Diversity Rule, according to which director candidates are selected based on various factors including, but not limited to, gender, age, race, language, cultural background, educational background, industry experience and professional experience.

The Board Committees

The Board of Directors has established five specialized committees, namely, the Strategy Committee, the Audit Committee, the Remuneration and Appraisal Committee, the Nomination Committee, and the Risk and Compliance Management Committee.

The Board of Supervisors

It is responsible for reviewing financial reports and other financial information submitted by directors at the Shareholders' General Meeting and supervising the conduct of the Board of Directors and senior management in their duty performance.

The Senior Management

The senior management is the executive body and reports to the Board of Directors. The authority of senior management is strictly defined by the Articles of Association and other corporate governance regulations.