China Power Won the Prize of Best Corporate Governance Awards of Listed Companies in Hong Kong
On 2 December 2020, the Hong Kong Institute of Certified Public Accountants (HKICPA) released the Judges' Report of the 20th Best Corporate Governance Awards 2020 in appreciation of listed companies and public institutions for their efforts in upkeep the level of corporate governance in Hong Kong over the years. The achievements in corporate governance of China Power have been recognized by the society and experts. The Company has been shortlisted for the first time and was awarded the prize of Special Mention Award for Non–Hang Seng Index (Medium Market Capitalization) Category. The HKICPA is internationally recognized as a world-class and high-quality professional institution. The Award was based on a comprehensive assessment conducted by HKICPA on corporate governance and other aspects of Hong Kong listed companies using their 2019 annual reports as the source.
As stated in the Judges' Report, Mr. Tian Jun, Chairman of the Board of Directors of China Power, emphasized in his "Letter to the Shareholders" in the annual report that the Company would continue to promote the high-quality transition towards clean energy with a focus on the development of grid-parity and competitive-bidding renewable energy projects, and striving to establish highly efficient clean energy bases, while implementing strict control on its capital expenditures on coal-fired power projects, which fully demonstrated the Company's determination to carry out its transformational development.
The Judges' Report also found that the Company's annual report expressed its commitment in pursuing a high-level of corporate governance, for which it has already formed a standardized governance structure and established an effective internal control system. Its "Risk Management Report" detailed the responsibilities, processes and measures of risks assessment and frankly disclosed the potential compliance risks. Its "Summary of Environmental Protection and Social Responsibility Report" strongly expounded the Company's core philosophy of "striving for clean development and contributing to green energy". The overall layout and design of the annual report is clear at a glance and the key words are prominent, which are helpful for investors to clearly understand the important information of the Company.
