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 businesses effectively, treat all stakeholders fairly and strive for the long- term, stable and growing return for shareholders.

Throughout the year ended 31 December 2024, the Company has strictly complied with all the current applicable code provisions of the CG Code.

The Hong Kong Stock Exchange published the consultation conclusions on review of the Corporate Governance Code and related Listing Rules in December 2024. The proposed amendments will come into effect on 1 July 2025 except for certain rules in relation to independent non-executive directors, which will follow a two-phased implementation over a six-year transition period for the nine-year cap on their serving tenures; and a three-year transitional period for independent non-executive directors concurrently holding more than six listed issuer directorships. While the Company has already substantially adopted the suggested practices for its own good corporate governance, such as regular board evaluations and disclosure of board skills matrix, it will assess the impact of these requirements and adhere to the disclosure guidance to be published by The Hong Kong Stock Exchange.