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Sinochem International
600500.SH
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Structure of Company Management
The Mechanism of the Board of Directors
The Board of Directors of the Company consists of 7 directors, 3 of whom are independent directors. The Board of Directors contains the Sustainable Development Committee, the Strategy Committee, the Nomination and Company Management Committee, the Salary and Assessment Committee and the Audit and Risk Committee. Three independent directors are chosen respectively for the Chairmen of Nomination and Company Management Committee, the Salary and Assessment Committee and the Audit and Risk Committee, and the members of the three important professional committees are mainly independent directors. When it comes to major productions and operation decisions, foreign investments, nominations of senior executives and their salaries and appraisals, or internal audits and other matters, the independent directors learn about the facts through interviews or telephone conversations with relevant personnel, reviewing relevant materials in advance and consulting with the board offices to make prudent decisions using their expertise, airing independent opinions and playing an important role in supervision and consultation. The directors of the company, in accordance with the rights conferred by relevant laws and regulations and the Procedures Rule for the Board of Directors, faithfully, honestly and diligently exercise their rights and perform their obligations.
Responsibilities of Specialized Committees under the Board of Directors

The Sustainable Development Committee of Sinochem International is responsible for formulating the sustainable development goals and plans, supervising the operation of sustainable development systems of each business sector, and providing suggestions and plans for improving the sustainable development performance; responsible for strengthening the company's decision-making and supervision ability and managing inappropriate employee behavior to avoid controversial misconduct. The Board of Directors deliberated and passed the Working Rules on Sustainable Development Committee of Sinochem International to enhance the overall level of sustainable development management.

 

The Strategy Committee is responsible for studying long-term development strategies and major investment decisions as well as proposing suggestions.

 

The Nominating and Corporate Governance Committee is responsible for studying the criteria and procedures for the selection of directors and senior management and proposing suggestions, selecting qualified candidates and checking the qualifications of candidates for director and senior management positions and proposing suggestions.

 

The Remuneration and Assessment Committee is responsible for studying assessment criteria for directors and senior management, carrying out assessment and proposing suggestions, and studying and examining remuneration policies and plans for directors and senior management positions.

 

The Audit and Risk Committee is responsible for supervising and evaluating external audits, proposing to hire or replace external audit agencies, supervising and evaluating internal audits, coordinating internal and external audits, auditing financial information and its disclosure, supervising and evaluating internal control of the Company, and covering other matters authorized by laws, regulations, articles of association, and the Board of Directors.

Director Profiles
  • Li Fanrong
    Chairman
    Born in 1963, Mr. Li is a Professor-level senior engineer. In August 1984, he graduated with a Bachelor Degree in Engineering majoring in Oil Production from the Faculty of Petroleum Development of Jianghan Petroleum Institute. In July 2003, he obtained an on-the-job MBA in Business Administration from Cardiff University Business School in Wales, UK.
    Upon graduation, Mr. Li joined the China National Offshore Oil Corporation Nanhai Eastern Petroleum Company, whereby he served as the Assistant Engineer of the Operations Department and Exploration Department and Engineer of the Oil Production Preparation Team. He then assumed the roles of Offshore Production Technician, Supervisory Platform Manager for the Huizhou oilfield and Deputy Manager and Manager of the Production Operations Department of Liuhua Oilfield of the CACT Operators Group; and General Manager for the Joint Operations Group of the 17/22 contract area of China National Offshore Oil Corporation (CNOOC) headquarters/StatoilHydro. He also served as the Assistant to the General Manager and Deputy General Manager of the Shenzhen branch of CNOOC (China) Co., Ltd. while concurrently serving as the chief Chinese representative of the CACT Operators and the Group’s Joint Operation Committee.
    From February 2007 to April 2010, he served as CNOOC’s Development and Production Manager, General Manager and Secretary of the Party Committee of the Shenzhen branch of CNOOC (China) Co., Ltd., and Assistant to the General Manager and member of the management committee of the CNOOC headquarters. From April 2010 to May 2016, he served as the Deputy General Manager and Member of the Leading Party Group of the CNOOC headquarters while serving as the General Manager of CNOOC Energy Development Co., Ltd., Chairman of CNOOC Infrastructure Management Co., Ltd., and CEO and President of CNOOC Co., Ltd. He also served as Chairman of the Boards of CNOOC South East Asia Co., Ltd., CNOOC Petroleum North America, and CNOOC International.
    From May 2016 to February 2020, he served as a Member of the Leading Party Group and Deputy Director of the National Energy Administration. From March 2020 to April 2021, he served as the of China National Petroleum Corporation’s Company Director, General Manager, Deputy Secretary of the Leading Party Group; and Vice Chairman of the joint-stock company. In April 2021, he became the Director, General Manager and Deputy Secretary of the Party Leadership Group for Sinochem Holdings while concurrently serving as the Chairman for Sinochem Energy Co., Ltd. In August 2022, he became the Chairman and Secretary of the Party Leadership Group for Sinochem Holdings. He is currently the Chairman of the company.
  • Li Fuli
    Director
    Born in 1965, Mr. Li holds Bachelor's Degree in Financial Accounting from the Finance Faculty of Renmin University of China and an EMBA Degree from Cheung Kong Graduate School of Business. He serves as the Vice President and Leading Party Committee Member of China Minmetals Corporation and the Deputy General Manager, Chief Accountant and Leading Party Committee Member of China Resources (Holdings) Co., Ltd. Meanwhile, he also concurrently serves as the Chairman of the Boards of China Resources Cement, China Resources Capital Holdings Ltd., China Resources SZITIC Trust Co., Ltd, China Resources Bank of Zhuhai Co., Ltd. and China Resources Microelectronics Ltd. In May 2022, Mr. Li was appointed as Deputy General Manager, Chief Financial Officer and Leading Party Group Member of Sinochem Holdings. He is also currently a board director at the company.
  • Zhang Xuegong
    Board Director, General Manager
    Born in 1970, Mr. Zhang holds a Master of Chemistry degree from Tsinghua University and an EMBA from China Europe International Business School. Having joined Sinochem in 1995, he has served as the Section Chief of Human Resources Department of Sinochem Group, Director of the President's Office of Sinochem Group, Deputy General Manager of Sinochem International cum General Manager of the Logistics Business Division of Sinochem International, Assistant to the General Manager for Sinochem Group cum General Manager of China National Seed Group Co., Ltd. He has also served as Director of the Strategic Execution Department of Sinochem Group and Director of Strategic Execution for Sinochem Holdings. He currently serves as the Company’s Board Director, General Manager and Secretary of CPC Committee.
  • Qin Jinke
    Board Director, CFO
    Male, born in 1970. Obtained a bachelor's degree in Accounting from Central University of Finance and Economics, and an EMBA degree of China Europe International Business School. Previously worked for Fenxi Mining Bureau and Shanghai Oasun Environmental Hi-Tech Co., Ltd.. Joined Sinochem International in 2001, and held various positions including: general manager assistant of Auditing Department, CFO of Sinochem Zhengjiang, financial director of Metallurgy & Energy Division, manager of Tax Office in Financial Department, general manager of Accounting and Tax Office in Financial Department, vice general manager of Financial Department, general manager and vice director of Financial Department. Currently serves as board director, CFO and member of CPC Committee in Sinochem International.
  • Yu Dahai
    Independent director
    Born in 1959, Mr. Cheng holds a PhD in Management Science and Engineering from Hunan University. He is also a researcher and certified public accountant. Well-versed in accounting, auditing, evaluation, finance and securities, he has extensive experience in enterprise management and the capital market. Mr. Cheng was formerly deployed by Central Huijin Investment to be the Director of the Industrial and Commercial Bank of China and Director of the Agricultural Bank of China. He currently serves as an Independent Director for listed company Minmetals Capital Company Limited, President for Zhongguancun Guorui Finance and Industrial Development Research Association, a PhD supervisor for Hunan University, Distinguished Professor of the Chinese Academy of Social Sciences, and External Supervisor for China Huarong Asset Management Co.,Itd. He is also an Independent Director for the Company’s 9th Board of Directors and the Chairman of the Company’s Audit and Risk Committee.
  • Xu Yongqian
    Independent director
    Born in 1967. Graduated with a bachelor’s degree in laws from Fudan University. Worked as a legal adviser to Shandong Marine Chemical Corporation of CNOOC from 1989 to 1996, an employee at Shandong Qiushi Law Firm from 1996 to 1999, and an employee at Beijing Dentons Law Firm since 1999. Currently a senior partner and lawyer at Beijing Dentons Law Firm, a member of the Education Committee of the All China Lawyers Association, and deputy director of Risk Management Committee of China Standardization Innovation Strategy Alliance. Xu works as independent director of several listed companies including Hebei Xuangong Construction Machinery Co., Ltd. and Hainan Mining. He is currently an independent director of the ninth Board of Directors and the president of the Nominating and Corporate Governance Committee of Sinochem International.
  • Cheng Fengchao
    Independent director
    Born in 1959, Mr. Cheng holds a PhD in Management Science and Engineering from Hunan University. He is also a researcher and certified public accountant. Well-versed in accounting, auditing, evaluation, finance and securities, he has extensive experience in enterprise management and the capital market. Mr. Cheng was formerly deployed by Central Huijin Investment to be the Director of the Industrial and Commercial Bank of China and Director of the Agricultural Bank of China. He currently serves as an Independent Director for listed company Minmetals Capital Company Limited, President for Zhongguancun Guorui Finance and Industrial Development Research Association, a PhD supervisor for Hunan University, Distinguished Professor of the Chinese Academy of Social Sciences, and External Supervisor for China Huarong Asset Management Co.,Itd. He is also an Independent Director for the Company’s 9th Board of Directors and the Chairman of the Company’s Audit and Risk Committee.
The mechanism of the Supervisory Committee
The Supervisory Committee of the company has three members, including two shareholders' representative supervisors and one employees' representative supervisor who was elected by the company's congress of workers and staff in accordance with relevant regulations. The day-to-day work of the Supervisory Committee includes diligently and conscientiously reviewing the company's quarterly, semi-annual and annual financial statements and other matters and making audit opinions in written form; supervising the actions to fulfill duties of the company's directors and senior managers and supervising the company's major investments and major financial decisions.
Supervisor profiles
  • Chen Aihua
    Chairperson of the Board of Supervisors
    Born in 1972, Ms. Chen holds a Bachelor Degree in Polymer Materials from Beijing University of Chemical Technology. Having joined Sinochem in 1994, she previously served as the Deputy Manager of the Customer Credit Management Department, Manager of the Process Quality Certification Department, and Manager of the Integrated Management Department under the Risk Management Department of Sinochem Group. She also served as the Deputy General Manager of the Risk Management Department, Deputy General Manager of the Audit Department, and Deputy Director of the Audit and Compliance Department of Sinochem Group. Meanwhile, she has also held the positions of Director of the Audit and Compliance Department and Head of the Leading Party Members’ Group Inspection Office of Sinochem Group. She currently serves as Director of the Audit Department of Sinochem Holdings and Chairperson of the Board of Supervisors for the Company.
  • Meng Ning
    Supervisor
    Born January 1977, Mr. Meng holds an Accounting Degree from the Finance and Accounting Faculty of Shijiazhuang Tiedao University and a Master’s in Accounting (MPACC) from the Research Institute of Fiscal Science under the Ministry of Finance. Having joined Sinochem in 2004, he previously served as the Training Manager of the Audit Department of Sinochem Group, Director of the Discipline, Inspection and Supervision Office cum General Manager of the Audit and Inspection Department of Sinofert; Deputy Director of the Audit and Compliance Department cum General Manager of the Audit Section of Sinochem Group, Deputy Director of the Audit and Compliance Department of Sinochem Group. Currently, he is the Deputy Director of Sinochem Holdings’ Audit Department and serves as a supervisor for the company.
  • Zhuang Yan
    Employee supervisor
    Female. Born in 1974. Chinese. College degree in Science and Technology English of Shanghai Jiaotong University. Worked as an on-site trading representative of Great Wall Securities Co., Ltd. on the Shanghai Stock Exchange, and was responsible for the company's B-share trading and clearing work. Joined Sinochem International in 2004 and has been engaged in board administration and securities affairs in the Board Office. Currently a corporate governance manager and a member of the auditing committee of the corporate labor union.
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