Core Points - The implementation rules for the cumulative voting system aim to enhance corporate governance, standardize the election of directors, and protect the interests of minority shareholders [1][2] - The cumulative voting system allows shareholders to allocate their voting rights according to their preferences when electing multiple directors [1][2] Chapter Summaries Chapter 1: General Provisions - The rules are established in accordance with relevant laws and regulations to ensure the rights of public shareholders in electing directors [1] - Cumulative voting grants shareholders voting rights equal to the number of shares they hold multiplied by the number of directors to be elected [1][2] Chapter 2: Nomination of Director Candidates - The board of directors or shareholders holding more than 1% of shares can nominate candidates for directors [2][3] - Candidates must provide detailed personal information and confirm their eligibility for the position [2][3] Chapter 3: Election and Voting of Directors - The voting process involves calculating the cumulative votes and ensuring that independent and non-independent directors are elected separately [4][5] - Shareholders can concentrate their votes on one or more candidates, but cannot exceed the number of directors to be elected [4][5] Chapter 4: Principles of Director Election - Directors are elected based on the number of votes received, with a requirement that the votes must exceed half of the valid voting rights present [5][6] - If the election fails to meet the required number of elected directors, the existing board continues to serve until a new election is organized [5][6] Chapter 5: Supplementary Provisions - The rules will take effect upon approval by the shareholders' meeting and will be interpreted by the board of directors [6]
德明利: 累积投票制度实施细则（2025年9月）