Summary by Futu AI
Cosco Shipping Holdings approved the board of directors' rules of procedure at the 2023 annual shareholders' meeting, aiming to further regulate the board's deliberation and decision-making procedures and improve the scientific and normative nature of decision-making. The new rules emphasize that the board's decisions should be based on sufficient information and independent opinions, and clearly define the scope of the board's responsibilities, including but not limited to financial budgets, final accounts plans, profit distribution, capital changes, major acquisitions, external guarantees, investment decisions, etc. In addition, the board can authorize management to handle specific affairs and establish specialized committees to make professional decisions. The role and responsibilities of the board secretary have also been further clarified, responsible for promoting corporate governance and information disclosure. The implementation of the new rules of procedure will help to enhance the company's corporate governance structure and transparency, in line with relevant laws and regulations and listing rules requirements.