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The Company's Board of Directors is responsible for the following:

1.Convene shareholders' meetings and to report the board's work at these meetings;

2.Implement resolutions as passed at shareholders' meetings;

3.Determine business and investment plans;

4.Formulate preliminary and final budgets;

5.Formulate profit distribution and loss recovery proposals;

6.Formulate proposals for the Company's credit and financial policies, changes in registered share capital, the issuance of debt instruments, and for the listing and repurchase of the Company's shares;

7.Draft plans for significant asset acquisition or disposals, mergers, division, change of the company form or dissolution of the Company;

8.Determine Sinopec's foreign investment, purchase of sale assets, pledge of assets, assets management, and connected transaction according to authority given at the shareholders' meeting;

9.Study and check external corporate guarantees according to laws and regulations in Articles of Association and its attachment;

10.Determine internal management structure in the Company;

11.Appoint or remove the President. Appoint or remove Senior Vice President, CFO, and Vice President according to President’s nomination. Appoint or remove Secretary of the Board of Directors. Decide on their compensation;

12.Appoint and replace members of the board of directors and the supervisory committee of wholly owned subsidiaries. Appoint, replace and recommend candidates for shareholders, the board of directors and supervisory committees in companies that are controlled or invested in by Sinopec;

13.Determine the establishment of branch offices;

14.Draft proposals for amendments to Sinopec's Article of Association;

15.Determine the Company’s fundamental management system;

16.Manage the Company’s information disclosure;

17.Propose a shareholders' general meeting to engage or replace the outside audit firm;

18.Listen to, and comment on, the President's work report;

19.Administer important corporate and administrative matters, which are not determined by shareholders' resolutions, law, administrative rules, government regulations, or the Company's Articles of Association and its attachment, and sign other significant agreements;

20.Exercise other powers conferred by shareholders, law, administrative rules, government regulations, the Company's Articles of Association and its attachment.

Directors are liable for resolutions passed by the board of directors. If a board motion violates the laws, administrative regulations, or the Company's Articles of Association, the directors who participated in the passing of such motions are liable to compensate the Company for related damages. Board member(s), who expressly objected to the motion, when voted on and recorded in the board minutes, may be relieved from this liability. Directors who abstained from voting, or failed to attend or appoint a proxy to attend the board meeting, shall not be exempted from the liability; and directors who are opposed to the motion but failed to cast a dissenting vote shall not be exempted from the liability either.

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