Youngor(SH:600177) Zheng Quan Zhi Xing·2025-08-29 11:21Core Viewpoint - The company has established a system for accountability regarding significant errors in annual report disclosures to enhance the quality and transparency of information provided to stakeholders [1][2]. Group 1: General Principles - The system aims to improve the company's operational standards and ensure the authenticity, accuracy, completeness, and timeliness of annual report disclosures [1]. - Accountability is defined as the pursuit and handling of responsibilities when significant economic losses or adverse social impacts occur due to negligence or misconduct in annual report disclosures [2]. Group 2: Applicability and Principles - The accountability system applies to directors, senior management, department heads, subsidiaries, and other relevant personnel involved in annual report disclosures [2]. - The principles of accountability include factual accuracy, objectivity, proportionality of fault and responsibility, and the correlation between rights and responsibilities [2]. Group 3: Conditions for Accountability - The company will pursue accountability in cases of violations of laws, regulations, or internal policies that lead to significant errors in annual report disclosures [3]. - Specific conditions include failure to follow disclosure procedures, lack of timely communication, and other personal reasons leading to significant errors [3]. Group 4: Penalties and Mitigating Factors - The company may impose severe penalties for serious violations, especially if they result from subjective factors [3]. - Mitigating factors for reduced penalties include effective prevention of adverse outcomes, proactive correction of errors, and incidents caused by unforeseen circumstances [4]. Group 5: Forms of Accountability - Accountability can take various forms, including administrative actions (e.g., reprimands, demotions, or termination) and economic penalties (e.g., salary reductions or compensation for losses) [4]. - The board of directors has the discretion to determine the appropriate form and severity of penalties based on the circumstances [4]. Group 6: Implementation and Amendments - The system will be implemented upon approval by the board of directors and will be subject to amendments as necessary [5].