Core Points - The company has established a Board Strategy and ESG Committee to enhance core competitiveness and improve decision-making processes for major investments and ESG performance [2][3] - The committee is responsible for researching and proposing recommendations on long-term sustainable development strategies, major investment decisions, and ESG-related matters [4] Group 1: Committee Structure - The committee consists of five directors, with the chairman serving as the head [3] - The committee's term aligns with that of the board, and members can be re-elected [3] - An Investment Review Group is established under the committee to prepare for decision-making [3][5] Group 2: Responsibilities and Authority - The committee's main responsibilities include researching long-term strategic planning, major investment financing proposals, and ESG goals [4] - It is tasked with identifying and monitoring ESG-related risks and opportunities that significantly impact the business [4] - The committee is accountable to the board and submits proposals for board review [4][9] Group 3: Decision-Making Process - The Investment Review Group is responsible for initial assessments and preparing relevant materials for the committee [10] - The committee holds meetings to discuss proposals and provides feedback to the Investment Review Group [11] - Meetings must have a quorum of two-thirds of members, and decisions require a majority vote [13][14] Group 4: Meeting Procedures - The committee is required to hold at least two meetings annually, with proper notice and documentation [12] - Meeting records must be maintained for at least ten years, and confidentiality obligations are imposed on members [16][20] - The committee can hire external advisors for professional opinions as needed [16] Group 5: Implementation and Amendments - The implementation rules take effect upon the company's H-share listing on the Hong Kong Stock Exchange [21] - Any amendments to the rules will be subject to relevant laws and regulations [22][23]

Group 1 - The company establishes a Strategic Committee under the Board of Directors to enhance core competitiveness and improve decision-making processes [1][2] - The Strategic Committee consists of five directors, including at least one independent director, and is responsible for researching and advising on long-term development strategies and major investment decisions [1][3] - The term of the Strategic Committee members aligns with that of the Board of Directors, and members can be re-elected unless specific disqualifying conditions arise [2][3] Group 2 - The main responsibilities of the Strategic Committee include researching long-term strategic planning, major investment financing proposals, and significant operational decisions, and providing recommendations to the Board [3][4] - The Strategic Committee meetings require a quorum of two-thirds of the members to be valid, and decisions are made by a majority vote [4][5] - The committee can invite other directors and senior management to meetings and may hire external advisors for professional opinions, with costs covered by the company [5][6]

Core Points - The establishment of the Strategic Committee aims to enhance the core competitiveness of the company and improve decision-making efficiency for major investments [1][2] - The committee is responsible for researching and proposing suggestions on the company's long-term strategic planning and major investments [1][2] Group 1: General Provisions - The Strategic Committee is a specialized working body set up by the Board of Directors to study the feasibility of long-term development strategies and major strategic investments [1] - The committee consists of three directors, including at least one independent director [2] Group 2: Responsibilities and Authority - The main responsibilities of the Strategic Committee include researching and proposing suggestions on long-term strategic planning, major investments, and capital operations [2] - The committee is tasked with tracking national industrial policy trends and domestic and international market developments to provide strategic opinions to the Board [2] Group 3: Meeting Rules - The committee meetings can be held irregularly based on work needs, requiring at least two members to propose a meeting [3] - A quorum of two-thirds of the committee members is required for meetings to be valid, and members can delegate their voting rights if unable to attend [4] Group 4: Documentation and Confidentiality - Meeting records must be kept, and attendees have the right to request their statements be recorded [5] - All attendees are bound by confidentiality obligations regarding the matters discussed in the meetings [5] Group 5: Miscellaneous - The working rules of the Strategic Committee will be executed according to relevant national laws and the company's articles of association [6] - The rules will take effect upon approval by the Board of Directors [6]

杭州迪普科技股份有限公司 董事会战略委员会议事规则 第一章 总 则 第一条 为适应杭州迪普科技股份有限公司（以下简称"公司"）战略发展需要，增 强公司核心竞争力，确定公司发展规划，健全投资决策程序，加强决策科学性，提高重 大投资的效益和决策的质量，完善公司治理结构，根据《中华人民共和国公司法》 《公司 章程》及其他有关规定，公司特设立董事会战略委员会，并制定本议事规则。 第二条 战略委员会是董事会按照股东会决议设立的专门工作机构，主要负责对公 司中长期发展战略和重大投资决策进行研究并提出建议。 第二章 人员组成 第三条 战略委员会由 3 名董事组成，独立董事占 1 名。 第四条 战略委员会委员由董事长、二分之一以上独立董事或者全体董事的三分之 一以上提名，当选委员须经全体董事半数以上表决通过。 第五条 战略委员会设主任委员一名,战略委员会主任委员由董事长担任。 第六条 战略委员会任期与董事会任期一致，委员任期届满，连选可连任。期间如有 委员不再担任公司董事职务，自动失去委员资格，并由董事会根据上述第三条至第五条 的规定补足委员人数。 第七条 战略委员会下设投资评审小组，负责战略委员会决策事宜的前期准备工作。 ...

HZD-2-DB-1-2025 董事会战略委员会工作细则 华能国际电力股份有限公司 《公司章程》及其附件和本工作细则规定 董事会战略委员会工作细则 第一章 总则 第一条 为适应华能国际电力股份有限公司（简称"公 司" ）战略发展需要，增强公司核心竞争力，确定公司发展 规划，健全投资决策程序，加强决策科学性，提高重大投 资决策的效益和决策的质量，完善公司治理结构，根据《中 华人民共和国公司法》《上市公司治理准则》等有关法律、 法规和规范性文件、公司上市地监管规则的有关规定及《华 能国际电力股份有限公司章程》 （简称"《公司章程》"） ，结 合公司实际，公司特设立董事会战略委员会（简称"战略 委员会"），并制定本工作细则。 第二条 战略委员会是董事会下设的专门委员会，主 要负责对公司发展战略方案、重大投资方案、重大投资项 目及其他影响公司发展的重大事项等进行研究及检查相关 事项的实施情况以及有关法律、法规和规范性文件、公司 上市地监管规则、 的其他职责，对董事会负责。 第三条 受董事会委托，战略委员会负责公司全面风 险管理工作的决策。 第二章 人员组成 第四条 战略委员会由三至七名公司董事组成，其中 HZD-2- ...

Core Viewpoint - The article emphasizes the importance of strategic planning in business, particularly in the automotive industry, as articulated by Renault China's CEO, Su Weiming, who believes that a well-defined strategy is crucial for navigating market changes and technological advancements [2][4]. Group 1: Historical Context and Leadership - Su Weiming has witnessed the evolution of the Chinese automotive market over the past 30 years, marking significant milestones such as China surpassing the US in monthly car sales in August 2006 [3]. - His career spans major automotive companies, including Mercedes-Benz and Volkswagen, where he successfully implemented strategies that capitalized on market opportunities [4][5]. - At Renault, he advocated for a strategic retreat from unprofitable joint ventures in China, which ultimately saved the company from significant losses [9][10]. Group 2: Strategic Decisions and Market Positioning - Under Su's leadership, Renault has focused on leveraging Chinese technology for global electric vehicle development, indicating a shift from traditional combustion engines to electric models [12][14]. - The company aims to produce a new electric vehicle priced under €20,000, showcasing the potential of Chinese innovation in the automotive sector [14]. - Renault's global sales are projected to exceed 2.26 million units in 2024, with operating profit reaching €4.3 billion, highlighting a successful turnaround strategy [11]. Group 3: Supply Chain and Collaboration - Su Weiming emphasizes the importance of building strong relationships with suppliers, moving from a transactional model to a collaborative approach that fosters mutual growth [25][24]. - The establishment of a new fund in collaboration with Chinese partners aims to explore investment opportunities in the electric vehicle ecosystem, reflecting Renault's commitment to integrating with local technology [20][22]. - The focus on supply chain innovation is seen as critical for the future of the automotive industry, with Su predicting that the next generation of automotive giants will emerge from China's robust supply chain ecosystem [23][24]. Group 4: Future Outlook and Market Dynamics - Su Weiming believes that the automotive market will continue to evolve, with a focus on supply rather than just demand, particularly in the context of technological advancements [27][29]. - He identifies the importance of AI and software in the future of automotive technology, suggesting that the competition will increasingly revolve around user experience and internationalization [32][30]. - The article concludes with Su's perspective on the future of new energy vehicle companies, indicating that scale will be essential for survival in a competitive market [41][42].

Strategic Planning and Development - The bank has established a comprehensive development strategy termed "1363," focusing on becoming a "respected and distinctive boutique bank" through three main directions: "lightweight, digital, and green" [2] - Key initiatives include "customer construction, retail transformation, asset quality improvement, external enhancement, technology empowerment, and management strengthening," aiming to create a business structure driven by small and micro enterprises, retail, and financial markets [2][3] - The bank has seen significant growth in green loans for three consecutive years and a notable increase in manufacturing loans, with supply chain financing achieving new breakthroughs [2] Market Value Management - The bank's market value management includes optimizing corporate governance, encouraging long-term shareholder support, and promoting shareholding stability [4] - Since its listing, the bank has completed three rounds of share increases by major shareholders, totaling 34.87 million shares and 94.22 million yuan [4] - Cumulative dividends since listing amount to 2.398 billion yuan, representing 1.18 times the funds raised during the IPO [4] Capital Supplementation Plans - The bank employs a dual approach for capital supplementation, combining internal capital accumulation with external capital sourcing, and has successfully issued 3 billion yuan in secondary capital bonds [5] - Plans for 2025 include issuing up to 5 billion yuan in perpetual bonds and exploring other capital-raising methods [5] - The bank maintains a balanced dividend policy to ensure shareholder interests while accumulating internal capital for sustainable development [5] Loan Issuance and Structure - In Q1 2025, the bank issued loans and advances totaling 17.621 billion yuan, marking a growth rate of 7.18%, the highest in five years [5] - Corporate loans increased by 15.759 billion yuan (8.12%), while personal loans rose by 2.011 billion yuan (3.38%) [5] Net Interest Margin Trends - The bank's net interest margin (NIM) was 1.43% in 2024 and increased to 1.46% in Q1 2025, despite ongoing downward pressure [6][8] - Strategies to mitigate NIM compression include enhancing liability management, exiting high-cost deposits, and optimizing the deposit structure [6][8] Deposit Rate Adjustments - The bank initiated a new round of deposit rate reductions on May 30, 2025, with expectations for continued declines in the deposit interest rate throughout the year [7] - The bank has managed to slow deposit growth while achieving a sustained decrease in interest rates, aligning with industry trends [7] Bond Market Outlook - The bond market is expected to experience limited downward movement in interest rates, with the 10-year government bond yield stabilizing between 1.65% and 1.7% [9][10] - The bank will continue to engage in bond trading and maintain a stable growth rate in its bond portfolio to ensure liquidity management [10]

Core Viewpoint - The article discusses the evolution of Alibaba, highlighting the shift from a mission-driven company to one focused on short-term metrics and internal competition, raising concerns about its future sustainability and values [3][4][30]. Group 1: Reasons for Alibaba's Success - The company benefited from significant economic trends, with GDP growth from $1 trillion in 1999 to an expected $18 trillion by 2024, and internet users increasing from 8.9 million in 1999 to nearly 1 billion by 2020 [6][12]. - Strategic foresight from founder Jack Ma led to successful ventures like B2B, Taobao, Alipay, and Alibaba Cloud, which were built on strong resource integration [7]. - A unique corporate culture fostered teamwork and a shared vision, allowing employees to feel valued and respected [8]. - Institutional frameworks supported employee engagement and loyalty, emphasizing customer first, employee second, and shareholder third [9]. Group 2: Signs of Decline - Since 2017, the company has experienced a slowdown in growth, with internet user growth rates dropping to single digits and expected to plateau around 1.1 billion by 2024 [12]. - Many strategic acquisitions have failed, such as the purchase of Koubei and Ele.me, which did not yield the expected market dominance [13][14]. - Internal innovation has stagnated, with few successful new ventures outside of e-commerce-related businesses [17]. Group 3: Internal Issues - Employee morale has declined, with a culture shift towards short-term results over long-term vision, leading to a lack of commitment to the company's original mission [18][19]. - There is a growing issue of "wild dog" culture, where aggressive competition for short-term gains undermines collaboration and trust among employees [20]. - Financial issues include grade inflation and unclear performance metrics, leading to a lack of transparency and accountability [21][22]. Group 4: Cultural Erosion - The company's core values have weakened, with a shift towards prioritizing individual performance over collective goals, resulting in a loss of teamwork and integrity [32][33]. - The emphasis on results has led to unethical practices, including data manipulation and a culture of mistrust [35]. - HR has failed to uphold the company's values, focusing more on performance metrics than on employee welfare and cultural integrity [38][40]. Group 5: Recommendations for Improvement - The company should restore its core values and ensure they are integrated into performance evaluations to foster a healthier work environment [43]. - HR needs to refocus on employee support and cultural preservation, reducing the emphasis on performance metrics [39][40]. - A transparent performance and promotion system should be established to eliminate favoritism and ensure accountability [44].

Group 1 - The core viewpoint emphasizes the importance of foresight and strategic planning in business success, as exemplified by Ren Zhengfei's leadership at Huawei [1][3][6] - Ren Zhengfei's ability to anticipate market changes and prepare for future opportunities and risks is highlighted as a key factor in Huawei's resilience and adaptability [1][7][9] - The distinction between ordinary and exceptional companies lies in their approach to long-term growth versus short-term gains, with exceptional companies focusing on sustainable development [3][4][6] Group 2 - The article discusses the necessity of investing in research and development, as demonstrated by Huawei's early commitment to technology, which has allowed the company to thrive [4][7][10] - It is noted that decision-makers must possess insight and decisiveness, as these qualities enable them to navigate complex business environments effectively [9][11][12] - The cultivation of foresight and intuition is presented as a skill that can be developed through continuous learning, observation, and reflection [10][11][12]

Financial Data and Key Metrics Changes - 2024 was a transformative year for the company, marked by decisive actions that positioned it for long-term profitable growth and value creation for shareholders [5] - The company successfully completed the sale of Worldpac for $1.5 billion, strengthening its balance sheet and streamlining operations [5] Business Line Data and Key Metrics Changes - The company made the difficult decision to rationalize its store and distribution center footprint, with over 75% of the revised store footprint in designated market areas where it holds the number one or two position based on store density [6] - Strategic investments were made to enhance competitive position, reduce turnover, and improve customer service [6] Market Data and Key Metrics Changes - The company retained the Carquest Canada business, which resembles the US blended box model and offers additional runway for long-term growth [5] Company Strategy and Development Direction - A strategic plan was introduced focusing on three fundamental areas: merchandising excellence, supply chain, and store operations [7] - The company is focused on execution and has a renewed emphasis on customer-centric strategies [7] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the strategic direction and the urgency of execution as the company looks to 2025 and beyond [7] - The management team has been strengthened with leaders possessing deep retail expertise and strong functional knowledge [6] Other Important Information - The company held its annual meeting virtually, allowing shareholders to submit questions via a Q&A tool [2] - A quorum was confirmed with 92.23% of outstanding shares present or represented [12] Q&A Session Summary Question: Inquiry about business operations - The company plans to address all industry and business matters in the upcoming earnings call scheduled for May 22 [24][25]