Conditions for convening the board of directors of a limited company

Legal analysis: the board of directors of a limited liability company is divided into regular board of directors and temporary board of directors. The regular board of directors shall be convened at least twice a year, and all directors and supervisors shall be notified ten days before each meeting. Shareholders representing more than one-tenth of the voting rights, more than one-third of the directors or the board of supervisors propose to convene an interim board of directors.

Legal basis: People's Republic of China (PRC) Company Law.

Article 47 The meeting of the board of directors shall be convened and presided over by the chairman; If the chairman is unable to perform his duties or fails to perform his duties, it shall be convened and presided over by the vice chairman; If the vice chairman is unable to perform his duties or fails to perform his duties, it shall be convened and presided over by more than half of the directors.

Article 109 The board of directors shall have a chairman and may have a vice-chairman. The chairman and vice-chairman are elected by the board of directors by more than half of all directors.

The chairman shall convene and preside over the meeting of the board of directors and check the implementation of the resolutions of the board of directors. The vice chairman assists the chairman. If the chairman is unable to perform his duties or fails to perform his duties, the vice chairman shall perform his duties; If the vice chairman is unable to perform his duties or fails to perform his duties, more than half of the directors shall recommend a director to perform his duties on his behalf.

Article 110 The board of directors shall hold meetings at least twice a year and notify all directors and supervisors ten days before each meeting.

Shareholders representing more than one-tenth of the voting rights, more than one-third of the directors or the board of supervisors may propose to convene an interim meeting of the board of directors. The chairman shall convene and preside over the board meeting within ten days after receiving the proposal.

When the board of directors holds an interim meeting, it may separately determine the notification method and time limit for convening the board of directors.

Article 111 A meeting of the board of directors shall be held only when more than half of the directors are present. Resolutions made by the board of directors must be passed by more than half of all directors.

The board of directors decided to implement the one-person-one-vote system.