Zheng Quan Zhi Xing·2025-08-08 16:11Core Points - The article outlines the independent director system of Great Wall Motor Co., Ltd., aimed at enhancing corporate governance and protecting the interests of minority shareholders and creditors [1][17]. Summary by Sections General Principles - The system is established to improve the corporate governance structure and enhance the role of independent directors in decision-making and supervision [1]. - Independent directors must not hold any other positions within the company and should have no direct or indirect interests that could affect their judgment [2]. Qualifications and Appointment - A minimum of three independent directors is required, constituting at least one-third of the board, including at least one accounting professional [3]. - Independent directors must have relevant experience and a clean personal record, with no significant credit issues [5]. Responsibilities and Duties - Independent directors are responsible for participating in board decisions, supervising potential conflicts of interest, and providing professional advice to enhance decision-making [7]. - They have special rights, including hiring external consultants and proposing meetings to address significant issues [8]. Performance and Reporting - Independent directors must submit an annual report detailing their attendance, participation in committees, and communication with minority shareholders [12]. - They are required to maintain independence and report any conflicts or issues to the board [9]. Support and Compensation - The company must provide necessary resources and support for independent directors to perform their duties effectively [13]. - Independent directors are entitled to compensation that reflects their responsibilities, and the company may establish a liability insurance system for them [34].