Duties and Powers of the Board of Directors as stipulated in the Company Law

Legal analysis: the board of directors is the permanent authority of the company, responsible for the shareholders' meeting and exercising collective leadership. It is the leadership, management and business decision-making body of the joint-stock company, and the authority to exercise the functions and powers of the shareholders' meeting when it is not in session. Externally, it is the authorized representative of the company's economic activities, and internally, it is the leading organization of the company's organization and management.

Legal basis: Article 46 of the Company Law of People's Republic of China (PRC). 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;

(eleven) other functions and powers stipulated in the articles of association.