Corporate Governance Report

Corporate Governance Practices

The Board recognizes that good corporate governance is vital to the healthy and sustainable development of the Group, and the Board is committed to high standards of corporate governance. Through continuing exploration and practice, the Company has formed a standardized governance structure and formulated a comprehensive range of policies and procedures designed to ensure that it is well managed, with effective oversight and internal controls. The Board and management always follow good governance principles to manage the Group’s business effectively, treat all stakeholders fairly and strive for the long-term, stable and growing return for shareholders.

The Hong Kong Stock Exchange simplified the appendices to the Listing Rules in its consultation conclusions to the paperless listing regime and other rule amendments issued in June 2023. The Corporate Governance Code previously numbered Appendix 14 was re-numbered to Appendix C1 (the “CG Code”) effective 31 December 2023.Throughout the year ended 31 December 2023, the Company has strictly complied with all the applicable code provisions of the CG Code.