Zheng Quan Zhi Xing·2025-08-08 16:24Core Points - The article outlines the implementation details of the cumulative voting system for Great Wall Motor Co., Ltd, which will be reviewed at the temporary shareholders' meeting in 2025 [1] Chapter Summaries Chapter 1: General Principles - The purpose of the cumulative voting system is to enhance the corporate governance structure and ensure shareholders can fully exercise their rights [2] - Cumulative voting allows shareholders to allocate their voting rights in a flexible manner during the election of directors [2][3] Chapter 2: Nomination of Director Candidates - The board of directors, audit committee, or shareholders holding more than 1% of voting shares can nominate candidates for directors [3] - Candidates must provide written commitments to accept nominations and ensure the accuracy of their disclosed information [3] Chapter 3: Election of Director Candidates - The chairman of the shareholders' meeting must inform attendees about the cumulative voting method before voting begins [4] - Candidates are grouped by type (independent and non-independent) for voting purposes [4] Chapter 4: Election Results - In equal elections, candidates must receive more than half of the voting rights to be elected [5][6] - If the number of elected candidates is less than required, a new meeting must be held to elect the remaining directors [6] Chapter 5: Supplementary Provisions - The voting ballots must be prepared to accommodate the cumulative voting system, and no "against" or "abstain" options are allowed [7] - The board of directors is responsible for interpreting and amending these rules [7]