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 published the conclusions to Review of Corporate Governance Code and the associated Listing Rules in December 2021, and introduced amendments to the CG Code with most amendments becoming effective for the financial year commencing on or after 1 January 2022. Throughout the year ended 31 December 2022, the Company has strictly complied with all the applicable code provisions of the CG Code.