I. The Board of Directors shall be responsible to the shareholders' meeting and exercise the following functions and powers:
(1) Convene the shareholders' meeting and report the work to the shareholders' meeting;
(2) Implementing the resolutions of the shareholders' meeting.
(3) To decide on the company's business plan and investment plan;
(4) To formulate the company's annual financial budget and final accounts;
(five) to formulate the company's profit distribution plan and loss compensation plan;
(6) To formulate plans for the company to increase or decrease its registered capital and issue corporate bonds;
(seven) to formulate plans for the merger, division, dissolution or change of corporate form of the company;
(VIII) Deciding on the establishment of the company's internal management organization;
(9) To decide on the appointment or dismissal of the company manager and their remuneration, and to decide on the appointment or dismissal of the company's deputy manager and financial officer and their remuneration according to the nomination of the manager.
(X) To formulate the basic management system of the company;
Two. Composition of the board of directors
1 and 3- 13 persons, the method for forming the chairman and vice-chairman of a limited liability company shall be stipulated in the articles of association.
2. The members of the wholly state-owned board of directors shall be the representatives of the employees of the company. The board of directors of his limited liability company may include representatives of company employees.
3. The board of directors of a joint stock limited company 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.
Generally speaking, the board of directors usually combines management by objectives with key performance indicators to evaluate management. The Board of Directors, in combination with the industry situation, the completion level of the annual target and the efforts of the management team, organizes the assessment of the management, including the general manager, and encourages them in strict accordance with the incentive system. The evaluation process of the board of directors to the management can be divided into three stages: determining the evaluation target at the beginning of the year, evaluating the performance in the middle of the year and evaluating the results at the end of the year. So as to form an effective unity of objectives, performance and results, and ensure the scientific objectivity of rewards and punishments of assessment results.