STEP(SZ:002527) Zheng Quan Zhi Xing·2025-06-25 18:07Core Viewpoint - The document outlines the management regulations for subsidiaries of Shanghai New Times Electric Co., Ltd., aiming to enhance internal operations, protect the interests of the company and its investors, and ensure compliance with relevant laws and regulations [1][2]. Group 1: General Principles - The regulations aim to strengthen the management of subsidiaries, establish effective control mechanisms, and improve overall operational efficiency and risk resistance [2]. - Subsidiaries must adhere to these regulations and establish their own management guidelines for any subsidiaries they control [2]. Group 2: Operational Norms - Subsidiaries are required to establish a sound corporate governance structure and internal management systems in accordance with the Company Law and relevant regulations [3]. - Subsidiaries must hold shareholder meetings, board meetings, or supervisory board meetings as stipulated in their articles of association [3][4]. Group 3: Information Management - Subsidiaries must provide timely, complete, and accurate information regarding their operational performance, financial status, and business prospects to the company's board of directors [4]. - Subsidiaries are obligated to report significant matters to the company’s board secretary promptly [11]. Group 4: Financial Management - Subsidiaries must follow national financial management policies and accounting systems, and establish financial management systems suited to their actual conditions [8]. - Financial reports must be submitted to the company within specified timeframes, including annual, semi-annual, and quarterly reports [8][9]. Group 5: Investment Management - Subsidiaries are allowed to invest in projects based on market conditions and business needs, but must follow company guidance and supervision for external investments [10]. - Prior to engaging in certain investment activities, subsidiaries must obtain approval from their shareholder meetings [10]. Group 6: Audit and Supervision - The company will conduct regular or irregular audits of subsidiaries, which may include hiring external auditors [12]. - Subsidiaries must cooperate with audits and provide all necessary documentation [12][13]. Group 7: Performance Assessment - Subsidiaries are required to establish performance assessment and reward systems to motivate management and employees [14]. - The company reserves the right to impose penalties on subsidiary executives who fail to fulfill their responsibilities, resulting in adverse effects on the company [14].