LANZHOU HUANGHE(SZ:000929) Zheng Quan Zhi Xing·2025-09-03 16:21Core Viewpoint - The article outlines the independent director system of Lanzhou Yellow River Enterprises Co., Ltd., emphasizing the importance of independent directors in enhancing corporate governance and protecting the interests of minority shareholders [1][2]. Summary by Sections General Principles - Independent directors are defined as those who do not hold any other positions in the company and have no direct or indirect interests that could affect their independent judgment [1]. - Independent directors have a duty of loyalty and diligence to the company and all shareholders, and they must perform their roles independently [2]. Independence and Qualifications of Independent Directors - The company will appoint three independent directors, including at least one accounting professional [2]. - Candidates for independent directors must meet specific qualifications, such as having a CPA license or relevant advanced degrees and experience in accounting or finance [2][3]. Responsibilities and Duties of Independent Directors - Independent directors are required to participate in board decisions, supervise potential conflicts of interest, and provide professional advice to enhance decision-making [12][19]. - They have special rights, including the ability to hire external consultants and propose meetings [26][29]. Nomination and Election of Independent Directors - The nomination process for independent directors must be transparent, with candidates required to declare their qualifications and independence [8][9]. - The company must disclose any objections raised by the Shenzhen Stock Exchange regarding the candidates' qualifications [19]. Term and Replacement of Independent Directors - Independent directors serve terms aligned with other board members, with a maximum continuous service of six years [10]. - The company must complete the replacement of independent directors within sixty days if their departure affects the required composition of the board [11]. Support for Independent Directors - The company is obligated to provide necessary resources and support for independent directors to fulfill their duties effectively [43][45]. - Independent directors should have equal access to information and be involved in significant decision-making processes [44][47]. Reporting and Accountability - Independent directors must submit annual reports detailing their activities and participation in board meetings [42][20]. - They are required to report any obstacles encountered while performing their duties to the relevant authorities [41][48].