(1) Resolutions are decided by all the directors through voting rights and resolutions can be approved when more than half support it(two thirds in the future). Individual member or union member can initiate resolutions as long as they possess over 30% board rights. We record documents in the form of “ LANISKY Board Decide of 20090001”. 

(2) Execution of the resolutions. Resolutions must be presented in paper documents and go into effect with the signature of the chairman of the board (chief decision maker before legalization) and the relevant major principles in the management. 

(3) The board of directors is not a daily management institution and will not usually get involved with business and management. In general, the board of directors takes charge of the directions for the development of LANISKY, formulating development strategies, the distribution of resources, institution building, and top human resources deployment and so on. The functions and powers of the board of directors are as follows: 

The power of appointment and dismissal: to deliberate the appointment and dismissal of administers above ministerial level

The power of voting: vote for key issues rather than routine work during operating management

The power of working out systems: work out and perfect it as well

(4) The functions and powers of the board of directors differ from that of operating management layer. In that case, it’s reconcilable to see a member of the board of directors can not only possess 2% voting right but also own 60% decision-making right as a top manager.

(5) Board rights are by no means the share rights. Percentage of directors doesn’t represent relevant share rights,and the reverse is also true.

(6) Board rights are different from the decision-making rights of top managers. It’s reasonable to see the member of directors can not only own 2% voting right but also 60% decision-making right for corresponding items(Lanispark, Lanisky Network Business Unit, Lanisky Princess Grid.etc) as a top manager. 

(7) A board of directors is in office for one year each term. After its formalization, board nomination and election process will come into force triennially. Every term, the members and board rights are to be updated.

 

Contact information 

Assistant of board chairman: +86.150 1849 0654(Miss Zhang)