Chang, Jui-Jung

Chairperson

Main experience:
CEO, The Company
Chairperson, Sanneng Taiwan
Director, SINMAG Equipment Corporation

Hsieh, Shun-Ho

Director

Main experience:
Chairman and Gerneral Manager, SINMAG Equipment Corporation
Chairman of Xinmai Machinery (China) Co., Ltd

Chen, Lai-Chun

Director

Main experience:
General Manager, Sanneng Taiwan
General Manager, Sanneng Wuxi
Hsiao, Kai-Feng

Director

Main experience:
The Deputy Chief Executive Officer of the Company is the Acting Chief Executive Officer
General Manager, Sanneng Wuxi

Tsai,Feng-Lung

Director

Main experience:
Vice Director of Technology R&D Center, The Company
Vice General Manager, Sanneng Taiwan
Chang, Chih-Hao

Director

Main experience:
Marketing Director, The Company
Special Assistant to the chairperson and marketing vice general manager, Sanneng Wuxi

Chen, Shuei-Jin

Independent Director

Main experience:
Professional CPA and Managing Partner, Yuen Sheng CPA Firm
Director of Taiwan Baihe Industrial Co., Ltd
Independent Director, Cheng Shin Rubber Ind. Co., Ltd.
Independent Director, Merida Industry Co., Ltd
Independent director of Polyon Fiber (shares) Company
Supervisor, LINCO Technology Co., Ltd
Supervisor, Buffalo Machinery Company Limited

Shi, Kun-He

Independent Director

Main experience:
Director of China Cereal Industry Technology Research Institute
Chairman of Taiwan Society of Food Science and Technology

Huang, Chen-Yen

Independent Director

Main experience:
Senior Engineer MIRDC, Metal Industries Research & Development Centre

Name

Meet One of the Following Professional Qualification Requirements, Together with at Least Five Years Work Experience

Independence Criteria(Note)

Number of Other Public Companies in Which the Individual is Concurrently Serving as an Independent Director

An Instructor or Higher Position in a Department of Commerce, Law, Finance, Accounting, or Other Academic Department Related to the Business Needs of the Company in a Public or Private Junior College, College or University

A Judge, Public Prosecutor, Attorney, Certified Public Accountant, or Other Professional or Technical Specialist Who has Passed a National Examination and been Awarded a Certificate in a Profession Necessary for the Business of the Company

Have Work Experience in the Areas of Commerce, Law, Finance, or Accounting, or Otherwise Necessary for the Business of the Company

1
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12
Chang, Jui-Jung
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-
-
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-
Hsieh, Shun-Ho
-
-
-
-
-
-
Chen, Lai-Chun
-
-
-
-
-
Tsai,Feng-Lung
-
-
-
-
Hsiao, Kai-Feng
-
-
-
-
Chang, Chih-Hao
-
-
-
-
-
-
-
-
-
Huang, Chen-Yen
-
-
Shi, Kun-He
-
-
Chen, Shuei-Jin
-
3
Note: Please tick the corresponding boxes that apply to the directors during the two years prior to being elected or during the term of office.
  1. Not an employee of the Company or any of its affiliates.
  2. Not a director or supervisor of the company or any of its affiliates (The same does not apply, however, in cases where the person is an independent director appointed in accordance with the Act or the laws and regulations of the local country by, and concurrently serving as such at, a company and its parent or subsidiary or a subsidiary of the same parent).
  3. Not a natural-person shareholder whose shareholding ratio is more than an aggregate of 1% of the total issued shares of the company held by the person’s spouse, minor children or held by the person under others' names, or, whose shareholding ratio, occupies one of the ten highest proportions amongst all by the person.
  4. Not a spouse, relative within the second degree of kinship, or lineal relative within the third degree of kinship, of a managerial officer as described in (1) or any of the persons as described in (2) and (3).
  5. Not a director, supervisor, or employee of a corporate shareholder that directly holds 5% or more of the total number of issued shares of the company, or that ranks among the top five in shareholdings, or that designates its representative to serve as a director or supervisor of the company under Article 27, paragraph 1 or 2 of the Company Act (The same does not apply, however, in cases where the person is an independent director appointed in accordance with the Act or the laws and regulations of the local country by, and concurrently serving as such at, a company and its parent or subsidiary or a subsidiary of the same parent).
  6. Directors not of the company or more than half of the shares with voting rights are directors, supervisors or employees of other companies controlled by the same person (The same does not apply, however, in cases where the person is an independent director appointed in accordance with the Act or the laws and regulations of the local country by, and concurrently serving as such at, a company and its parent or subsidiary or a subsidiary of the same parent).
  7. The chairperson, general manager, or person holding an equivalent position of the company and a person in any of those positions at another company or institution are not the same person or are spouses: a director (or governor), supervisor, or employee of that other company or institution. (The same does not apply, however, in cases where the person is an independent director appointed in accordance with the Act or the laws and regulations of the local country by, and concurrently serving as such at, a company and its parent or subsidiary or a subsidiary of the same parent).
  8. Not a director, supervisor, officer, or shareholder holding 5% or more of the shares, of a specified company or institution that has a financial or business relationship with the company (The same does not apply, however, in cases where the specified company or institution holds an aggregate of more than 20% of the company’s issued shares, not more than 50%; and, where the person is an independent director appointed in accordance with the Act or the laws and regulations of the local country by, and concurrently serving as such at, a company and its parent or subsidiary or a subsidiary of the same parent).
  9. Not a professional individual who, or an owner, partner, director, supervisor, or officer of a sole proprietorship, partnership, company, or institution that, provides auditing services to the company or any affiliate of the company, or that provides commercial, legal, financial, accounting or related services to the company or any affiliate of the company for which the provider in the past 2 years has received cumulative compensation exceeding NT$500,000, or a spouse thereof. However, this restriction does not apply to a member of the remuneration committee, public tender offer review committee, or special committee for merger/consolidation and acquisition, who exercises powers pursuant to the Securities and Exchange Act or to the Business Mergers and Acquisitions Act or related laws or regulations.
  10. Does not have a marital relationship, or a relative within the second degree of kinship to any other director of the company.
  11. Not been a person of any conditions defined in Article 30 of the Company Law.
  12. Not a governmental, juridical person or its representative as defined in Aticle 27 of the Company Law.
Chang, Jui-Jung
Meet One of the Following Professional Qualification Requirements, Together with at Least Five Years Work Experience

An Instructor or Higher Position in a Department of Commerce, Law, Finance, Accounting, or Other Academic Department Related to the Business Needs of the Company in a Public or Private Junior College, College or University

A Judge, Public Prosecutor, Attorney, Certified Public Accountant, or Other Professional or Technical Specialist Who has Passed a National Examination and been Awarded a Certificate in a Profession Necessary for the Business of the Company

Have Work Experience in the Areas of Commerce, Law, Finance, or Accounting, or Otherwise Necessary for the Business of the Company

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V
Independence Criteria(Note)
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12
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Number of Other Public Companies in Which the Individual is Concurrently Serving as an Independent Director
Hsieh, Shun-Ho
Meet One of the Following Professional Qualification Requirements, Together with at Least Five Years Work Experience

An Instructor or Higher Position in a Department of Commerce, Law, Finance, Accounting, or Other Academic Department Related to the Business Needs of the Company in a Public or Private Junior College, College or University

A Judge, Public Prosecutor, Attorney, Certified Public Accountant, or Other Professional or Technical Specialist Who has Passed a National Examination and been Awarded a Certificate in a Profession Necessary for the Business of the Company

Have Work Experience in the Areas of Commerce, Law, Finance, or Accounting, or Otherwise Necessary for the Business of the Company

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V
Independence Criteria(Note)
1
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V
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V
Number of Other Public Companies in Which the Individual is Concurrently Serving as an Independent Director
Chen, Lai-Chun
Meet One of the Following Professional Qualification Requirements, Together with at Least Five Years Work Experience

An Instructor or Higher Position in a Department of Commerce, Law, Finance, Accounting, or Other Academic Department Related to the Business Needs of the Company in a Public or Private Junior College, College or University

A Judge, Public Prosecutor, Attorney, Certified Public Accountant, or Other Professional or Technical Specialist Who has Passed a National Examination and been Awarded a Certificate in a Profession Necessary for the Business of the Company

Have Work Experience in the Areas of Commerce, Law, Finance, or Accounting, or Otherwise Necessary for the Business of the Company

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V
Independence Criteria(Note)
1
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5
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7
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9
10
11
12
V
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V
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V
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V
Number of Other Public Companies in Which the Individual is Concurrently Serving as an Independent Director
Tsai,Feng-Lung
Meet One of the Following Professional Qualification Requirements, Together with at Least Five Years Work Experience

An Instructor or Higher Position in a Department of Commerce, Law, Finance, Accounting, or Other Academic Department Related to the Business Needs of the Company in a Public or Private Junior College, College or University

A Judge, Public Prosecutor, Attorney, Certified Public Accountant, or Other Professional or Technical Specialist Who has Passed a National Examination and been Awarded a Certificate in a Profession Necessary for the Business of the Company

Have Work Experience in the Areas of Commerce, Law, Finance, or Accounting, or Otherwise Necessary for the Business of the Company

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V
Independence Criteria(Note)
1
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V
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V
Number of Other Public Companies in Which the Individual is Concurrently Serving as an Independent Director
Chang, Jui-Ching
Meet One of the Following Professional Qualification Requirements, Together with at Least Five Years Work Experience

An Instructor or Higher Position in a Department of Commerce, Law, Finance, Accounting, or Other Academic Department Related to the Business Needs of the Company in a Public or Private Junior College, College or University

A Judge, Public Prosecutor, Attorney, Certified Public Accountant, or Other Professional or Technical Specialist Who has Passed a National Examination and been Awarded a Certificate in a Profession Necessary for the Business of the Company

Have Work Experience in the Areas of Commerce, Law, Finance, or Accounting, or Otherwise Necessary for the Business of the Company

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V
Independence Criteria(Note)
1
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12
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V
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V
Number of Other Public Companies in Which the Individual is Concurrently Serving as an Independent Director
Chang, Chih-Hao
Meet One of the Following Professional Qualification Requirements, Together with at Least Five Years Work Experience

An Instructor or Higher Position in a Department of Commerce, Law, Finance, Accounting, or Other Academic Department Related to the Business Needs of the Company in a Public or Private Junior College, College or University

A Judge, Public Prosecutor, Attorney, Certified Public Accountant, or Other Professional or Technical Specialist Who has Passed a National Examination and been Awarded a Certificate in a Profession Necessary for the Business of the Company

Have Work Experience in the Areas of Commerce, Law, Finance, or Accounting, or Otherwise Necessary for the Business of the Company

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V
Independence Criteria(Note)
1
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5
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11
12
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V
V
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V
Number of Other Public Companies in Which the Individual is Concurrently Serving as an Independent Director
Huang, Chen-Yen
Meet One of the Following Professional Qualification Requirements, Together with at Least Five Years Work Experience

An Instructor or Higher Position in a Department of Commerce, Law, Finance, Accounting, or Other Academic Department Related to the Business Needs of the Company in a Public or Private Junior College, College or University

A Judge, Public Prosecutor, Attorney, Certified Public Accountant, or Other Professional or Technical Specialist Who has Passed a National Examination and been Awarded a Certificate in a Profession Necessary for the Business of the Company

Have Work Experience in the Areas of Commerce, Law, Finance, or Accounting, or Otherwise Necessary for the Business of the Company

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V
Independence Criteria(Note)
1
2
3
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5
6
7
8
9
10
11
12
V
V
V
V
V
V
V
V
V
V
V
V
Number of Other Public Companies in Which the Individual is Concurrently Serving as an Independent Director
Wu , Chao-Fu
Meet One of the Following Professional Qualification Requirements, Together with at Least Five Years Work Experience

An Instructor or Higher Position in a Department of Commerce, Law, Finance, Accounting, or Other Academic Department Related to the Business Needs of the Company in a Public or Private Junior College, College or University

A Judge, Public Prosecutor, Attorney, Certified Public Accountant, or Other Professional or Technical Specialist Who has Passed a National Examination and been Awarded a Certificate in a Profession Necessary for the Business of the Company

Have Work Experience in the Areas of Commerce, Law, Finance, or Accounting, or Otherwise Necessary for the Business of the Company

V
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V
Independence Criteria(Note)
1
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5
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12
V
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Number of Other Public Companies in Which the Individual is Concurrently Serving as an Independent Director
Chen, Shuei-Jin
Meet One of the Following Professional Qualification Requirements, Together with at Least Five Years Work Experience

An Instructor or Higher Position in a Department of Commerce, Law, Finance, Accounting, or Other Academic Department Related to the Business Needs of the Company in a Public or Private Junior College, College or University

A Judge, Public Prosecutor, Attorney, Certified Public Accountant, or Other Professional or Technical Specialist Who has Passed a National Examination and been Awarded a Certificate in a Profession Necessary for the Business of the Company

Have Work Experience in the Areas of Commerce, Law, Finance, or Accounting, or Otherwise Necessary for the Business of the Company

V
V
V
Independence Criteria(Note)
1
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3
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5
6
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8
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12
V
V
V
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Number of Other Public Companies in Which the Individual is Concurrently Serving as an Independent Director
3
Note: Please tick the corresponding boxes that apply to the directors or supervisors during the two years prior to being elected or during the term of office.

  1. Not an employee of the Company or any of its affiliates.
  2. Not a director or supervisor of the company or any of its affiliates (The same does not apply, however, in cases where the person is an independent director appointed in accordance with the Act or the laws and regulations of the local country by, and concurrently serving as such at, a company and its parent or subsidiary or a subsidiary of the same parent).
  3. Not a natural-person shareholder whose shareholding ratio is more than an aggregate of 1% of the total issued shares of the company held by the person’s spouse, minor children or held by the person under others’ names, or, whose shareholding ratio, occupies one of the ten highest proportions amongst all by the person.
  4. Not a spouse, relative within the second degree of kinship, or lineal relative within the third degree of kinship, of a managerial officer as described in (1) or any of the persons as described in (2) and (3).
  5. Not a director, supervisor, or employee of a corporate shareholder that directly holds 5% or more of the total number of issued shares of the company, or that ranks among the top five in shareholdings, or that designates its representative to serve as a director or supervisor of the company under Article 27, paragraph 1 or 2 of the Company Act (The same does not apply, however, in cases where the person is an independent director appointed in accordance with the Act or the laws and regulations of the local country by, and concurrently serving as such at, a company and its parent or subsidiary or a subsidiary of the same parent).
  6. Directors not of the company or more than half of the shares with voting rights are directors, supervisors or employees of other companies controlled by the same person (The same does not apply, however, in cases where the person is an independent director appointed in accordance with the Act or the laws and regulations of the local country by, and concurrently serving as such at, a company and its parent or subsidiary or a subsidiary of the same parent).
  7. The chairperson, general manager, or person holding an equivalent position of the company and a person in any of those positions at another company or institution are not the same person or are spouses: a director (or governor), supervisor, or employee of that other company or institution. (The same does not apply, however, in cases where the person is an independent director appointed in accordance with the Act or the laws and regulations of the local country by, and concurrently serving as such at, a company and its parent or subsidiary or a subsidiary of the same parent).
  8. Not a director, supervisor, officer, or shareholder holding 5% or more of the shares, of a specified company or institution that has a financial or business relationship with the company (The same does not apply, however, in cases where the specified company or institution holds an aggregate of more than 20% of the company’s issued shares, not more than 50%; and, where the person is an independent director appointed in accordance with the Act or the laws and regulations of the local country by, and concurrently serving as such at, a company and its parent or subsidiary or a subsidiary of the same parent).
  9. Not a professional individual who, or an owner, partner, director, supervisor, or officer of a sole proprietorship, partnership, company, or institution that, provides auditing services to the company or any affiliate of the company, or that provides commercial, legal, financial, accounting or related services to the company or any affiliate of the company for which the provider in the past 2 years has received cumulative compensation exceeding NT$500,000, or a spouse thereof. However, this restriction does not apply to a member of the remuneration committee, public tender offer review committee, or special committee for merger/consolidation and acquisition, who exercises powers pursuant to the Securities and Exchange Act or to the Business Mergers and Acquisitions Act or related laws or regulations.
  10. Does not have a marital relationship, or a relative within the second degree of kinship to any other director of the company.
  11. Not been a person of any conditions defined in Article 30 of the Company Law.
  12. Not a governmental, juridical person or its representative as defined in Aticle 27 of the Company Law.

Board Responsibilities

The Company has planned its business operations and policies, formulated operational goals, implemented corporate governance and fulfilled corporate social responsibility, and the Company’s main managers are also appointed to promote the implementation of the Company’s business.

Board Diversity Policy

In order to achieve sustainable and balanced development and increasing diversity at the Board level, the Company will consider the diversity of the Board members from various aspects, including but not limited to gender, age, culture, educational background, ethnicity, professional experience, skills, knowledge or field of work, when setting the composition of the Board of Directors. All appointments to the Board are based on the principle of meritocracy, and the importance of diversity on the Board is fully taken into account when considering candidates.

Implementation of diversity on the Board of Directors

In view of the increasing diversification of the responsibilities of the Board of Directors, in order to ensure the sustainable and balanced development of corporate operations and improve the Company’s operating performance and management efficiency, the Board of Directors of the Company approved the formulation of the “Corporate Governance Code” on 25 July 2017, which formulates a diversity policy for the selection of Directors in Article 20 of Chapter 3 “Strengthening the Functions of the Board”, which considers the suitability of the Board members from multiple aspects and perspectives, including but not limited to gender, age, culture, educational background, ethnicity, professional experience, skills, knowledge or field of work. All appointments to the Board are based on the principle of meritocracy, and the importance of diversity on the Board is fully taken into account when considering candidates.

The nomination and selection of members of the Board of Directors of the Company is in accordance with the provisions of the Articles of Association, and the nomination system of candidates is adopted, in addition to evaluating the qualifications of each candidate’s academic experience, and with reference to the opinions of stakeholders, and complying with the “Regulations for the Election of Directors and Supervisors” and the “Corporate Governance Integrity” to ensure the diversity and independence of the Board members.

Among the 9 directors of the 4th session of the company, there are 6 general directors, including 1 female member, Chen Laichun, who has experience in roaster management and is good at financial and accounting management, Xie Shunhe and Zhang Zhihao, who have business management and knowledge of baking equipment industry, Zhang Ruirong, Cai Fenglong, Xiao Kaifeng, Zhang Zhihao, who are familiar with the management and professional knowledge of baking equipment, Xie Shunhe, who is familiar with professional knowledge of baking raw materials, and Zhang Ruirong, who has professional knowledge of production quality and R&D technology. Cai Fenglong and Xie Shunhe, three independent directors, each with different field expertise, including Huang Chenyan, independent director, is good at production management and quality system, Chen Shuijin, independent director has an accountant license, specializing in financial accounting and business regulations, and Shi Kunhe is the director of the China Cereal Food Industry Technology Research Institute, who has served as a member and supervisor of the technical examination of baked food, as well as a referee of domestic and international bread competitions, and is very familiar with the development process of the baking industry, and has professional experience and contacts in the upstream, middle and downstream of the baking industry, and has cultivated many bakers and baking entrepreneurs in Taiwan。 These three independent directors have made significant contributions to the Company in terms of manufacturing quality system, accounting system, legal compliance and industry development trends.

The board members have diverse backgrounds such as industry experience, professional practice and academic knowledge, which can give professional advice to the company from different perspectives, which is of great help to improve the company’s operation and management performance.

The company’s employee directors account for 22%, independent directors account for 33%, and female directors account for 11%. In the future, the company will focus on gender equality in the composition of the board of directors, and hopes to achieve more than 30% of female directors.

As can be seen from the following table, the core projects of the company’s director diversification include two parts, one is industrial experience, including 4 items of baking raw materials, baking equipment, baking equipment and bakery products, and the other is professional ability, including 4 items of accounting and finance, law, production and quality, and R&D technology.

Board members are diverse

Name of director

Basic composition
Industry experience
Professional proficiency
Nationality
Gender
He also serves as an employee of the Company
age
The length of office of the independent directors
Baking Equipment
Baking Utensils
Baking Ingredients
Baking Product
Accounting and Finance
Law
Production Quality
R&D
Under 50
50 to 60
61 to 70
71 to 80
Less than 3 years
3 to 9 years
More than 9 years
Chang, Jui-Jung
R.O.C
Male
V
V
V
V
Hsieh, Shun-Ho
R.O.C
Male
V
V
V
V
V
Chen, Lai-Chun
R.O.C
Female
V
V
V
Tsai,Feng-Lung
R.O.C
Male
V
V
V
V
Hsiao, Kai-Feng
R.O.C
Male
V
V
V
V
V
V
V
Chang, Chih-Hao
R.O.C
Male
V
V
V
V
V
Chen, Shuei-Jin
R.O.C
Male
V
V
V
V
Shi, Kun-He
R.O.C
Male
V
V
V
V
V
V
V
Huang, Chen-Yen
R.O.C
Male
V
V
V
V

In 2022, the Board of Directors held 6 meetings with a 98% attendance rate, and in 2023, the Board held 7 meetings with a 97% attendance rate

Chairperson:Chang, Jui-Jung
Nationality
R.O.C
Date Elected
2020/6/19
Gender
Male
Industry experience
Baking Equipment
Baking Utensils
Baking Ingredients
Baking Product
-
V
-
-
Professional proficiency
Accounting
Law
Production Quality
R&D
-
-
V
V
Chairperson:Chang, Jui-Jung
Nationality
R.O.C
Date Elected
2020/6/19
Gender
Male
Industry experience
Baking Equipment
Baking Utensils
Baking Ingredients
Baking Product
-
V
-
-
Professional proficiency
Accounting
Law
Production Quality
R&D
-
-
V
V
Director:Hsieh, Shun-Ho
Nationality
R.O.C
Date Elected
2020/6/19
Gender
Male
Industry experience
Baking Equipment
Baking Utensils
Baking Ingredients
Baking Product
V
-
V
-
Professional proficiency
Accounting
Law
Production Quality
R&D
-
-
V
V
Director:Chen, Lai-Chun
Nationality
R.O.C
Date Elected
2020/6/19
Gender
Female
Industry experience
Baking Equipment
Baking Utensils
Baking Ingredients
Baking Product
-
V
-
-
Professional proficiency
Accounting
Law
Production Quality
R&D
V
-
-
-
Director:Tsai, Feng-Lung
Nationality
R.O.C
Date Elected
2020/6/19
Gender
Male
Industry experience
Baking Equipment
Baking Utensils
Baking Ingredients
Baking Product
-
V
-
-
Professional proficiency
Accounting
Law
Production Quality
R&D
-
-
V
V
董事:張瑞卿
Nationality
R.O.C
Date Elected
2020/6/19
Gender
Male
Industry experience
Baking Equipment
Baking Utensils
Baking Ingredients
Baking Product
-
V
-
-
Professional proficiency
Accounting
Law
Production Quality
R&D
-
-
V
V
Director:Chang, Chih-ao
Nationality
R.O.C
Date Elected
2020/6/19
Gender
Male
Industry experience
Baking Equipment
Baking Utensils
Baking Ingredients
Baking Product
V
V
-
V
Professional proficiency
Accounting
Law
Production Quality
R&D
-
-
-
-
Independent Director:Chen, Shuei-Jin
Nationality
R.O.C
Date Elected
2020/6/19
Gender
Male
Industry experience
Baking Equipment
Baking Utensils
Baking Ingredients
Baking Product
-
-
-
-
Professional proficiency
Accounting
Law
Production Quality
R&D
V
V
-
-
Independent Director:Wu, Chao-Fu
Nationality
R.O.C
Date Elected
2020/6/19
Gender
Male
Industry experience
Baking Equipment
Baking Utensils
Baking Ingredients
Baking Product
-
-
-
V
Professional proficiency
Accounting
Law
Production Quality
R&D
-
-
-
V
Independent Director:Huang, Chen-Yen
Nationality
R.O.C
Date Elected
2020/6/19
Gender
Male
Industry experience
Baking Equipment
Baking Utensils
Baking Ingredients
Baking Product
V
-
-
-
Professional proficiency
Accounting
Law
Production Quality
R&D
-
-
V
-
Executive Director Independent Director Female Director
2/9(22%)
3/9(33%)
1/9(11%)

When planning the succession plan for the supervisors of each unit, the successor must not only have excellent work abilities and professional skills, but also needs to be in line with the Group’s business philosophy of “professionalism, integrity, and innovation” in terms of their management philosophy and personality traits.

In the fourth term of directors of the Company in 2023, Xiao Kaifeng, a professional manager, will replace the director of the family Zhang Ruiqing, reducing the number of directors of the Company to 2, and the three independent directors will start a gradual replacement rotation plan because they have completed two terms, and Shi Kunhe, director of the China Cereal Food Industry Technology Research Institute, who is familiar with the development of the baking industry, will replace the original independent director Wu Chaofu, so as to be more in line with the spirit of corporate governance.

In 2019, the Group’s functional organization was reorganized and converged into three major sections, which are composed of the three major operating functions of the Group, namely the Technology Research Center, the Marketing Center and the Management Center, which are responsible for the planning, management and control of various functions of the subsidiaries. Since 2020, the three major sectors have gradually arranged to cultivate successor candidates, and it is expected that the succession operation will start from 2024. In addition, in order to change generations, the subsidiaries include Wuxi Sanneng, Taiwan Sanneng, Japan Sanneng and Indonesia Sanneng, as well as the subsequent establishment of Skyll, Xinneng, Guangzhou Sanneng and other grandchildren have formulated a rotation and training plan for directors and supervisors at or above the associate level, including the existing directors of the group and subsidiaries and senior personnel at or above the associate level and the second generation of major shareholders, and the board of directors has approved the rotation of general managers of important subsidiaries through the proposal of the remuneration committee, so as to cultivate the company’s talents and improve the decision-making ability, and expects to cultivate and select the core decision-making successor team of the group and the successor of the future CEO within 5 years.

The rotation and training program for directors and supervisors above the associate level includes two parts: professional knowledge and management ability, and the professional knowledge training course includes six major areas, including technology research and development, manufacturing, marketing and sales, financial accounting, human resources, and internal control system, and management ability includes three aspects: leadership and control, strategic planning, and risk management. The training model is carried out through the formulation of an annual education and training plan, which is designed by internal lecturer training, external EMBA courses and actual work rotation and overseas dispatch, etc., and the whole course training cycle is a cycle of 3 years, and the results are analyzed, reviewed and optimized every year. At present, the implementation of the second three-year training plan includes the approval of the board of directors in 2023 Chen Liuyu to take over as the chief financial officer and Xiao Kaifeng to take over as the chief executive officer (general manager), and at the same time to meet the requirements of the FSC Corporate Governance 3.0 – the chairman and the general manager are not the same person or each other’s spouse or a relative, and from 2024, the director of the management center will be taken over by Zhang Xinyi, the general manager of Taiwan Sanneng, and gradually complete the succession plan of the generational succession. For the subsidiary part, from 2023, Wuxi Sanneng will be taken over by Hua Weiqin as general manager, and from 2024, Lin Suyu will take over as the general manager of Guangzhou Sanneng. At present, the senior management rotation and training program is still ongoing, including the heads of other centers of the Group and the deputy general manager level cadres of the subsidiaries, and it is expected that through the rigorous and thorough training plan and complete professional competency training, the trainees can improve the professional knowledge and management ability required for the planning and arrangement of new positions within the expected time, and successfully complete the succession tasks.

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