Corporate Governance

Great World Company is listed on the GEM of the Stock Exchange of Hong Kong. Our directors recognize the need to conduct the business with integrity and in accordance with suitable governance practices. The company has applied the principles in and complied with the requirements of the Corporate Governance Code (“CG Code”) as set out in Appendix 15 of the Rules Governing the Listing of Securities on the GEM of the Stock Exchange of Hong Kong Limited (the “GEM Listing Rules”) The requisite improvements to the company’s corporate governance procedures and policies have either been implemented or are in the process of being made.

The board has the Compliance Officer and also established the following sub-committees:

Board of Directors

The Board currently comprises three executive Directors, one non-executive Director and three independent non-executive Directors. All board members promise to offer enough time and energy to the company’s affairs. Each executive Directors has proper and qualified experience to fulfill his or her duty and is non-related to each other. The Board is responsible for reviewing, evaluating and finalizing the company’s strategies and policies, annual budgets, business plans and performance. It also edits annual, semi-annual, and quarterly reports, performs the corporate governance duties, and manages major merger & acquisition deals, etc.

Audit Committee

The Audit Committee comprises three independent non-executive Directors. The Audit Committee meets with the Group's senior management regularly to review the effectiveness of the internal control systems and the quarterly, interim and annual reports of the Group.

Remuneration Committee

Base on the requirement of corporate governance, Great World Company set up its Remuneration Committee on November 11, 2005. With precisely written responsibilities and duties, the committee has one executive Director and two independent non-executive Directors. The primary responsibilities of the Remuneration Committee are to review and approve performance-based remuneration, to make recommendation to the Board on remuneration packages, and to conduct regular review of the remuneration policy of directors and senior management.

Nomination Committee

On March 31, 2012, Great World Company set up the Nomination Committee, including one executive Director and two independent non-executive Directors, with precisely written responsibilities and duties. The primary responsibilities of the Nomination Committee are to identify and nominate for approval of the Board suitably qualified candidates as additional Directors or to fill Board vacancies as they arise, making recommendations to the Board with respect to the re-election by shareholders of any Director under the relevant provisions in the Company’s Articles of Association.

 

Audit Committee:

Mr. Chung Koon Yan (Chairman)

Ms. Zhao Yongmei

Dr. Yang Fuyu

Remuneration Committee:

Ms. Zhao Yongmei (Chairman)

Ms. Ng Mui King, Joky

Dr. Yang Fuyu

Nomination Committee:

Mr. Zhang Yanqiang (Chairman)

Ms. Zhao Yongmei

Dr. Yang Fuyu

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