Annual Report 2023

ANNUAL REPORT 2023 33 Corporate Governance Report The Board of Directors (the “ Board ”) of the Company is pleased to present this Corporate Governance Report in the Annual Report for the year ended 31 December 2023. The Board is committed to upholding a high standard of corporate governance practices and business ethics with the firm belief that they are essential for maintaining and promoting investors’ confidence and maximising shareholders’ returns. The Board reviews its corporate governance practices from time to time in order to meet the rising expectations of stakeholders and comply with increasingly stringent regulatory requirements, and to fulfill its commitment to excellence in corporate governance. During the year, the Board has reviewed and discussed the corporate governance policies of the Group and was satisfied with the effectiveness of such policies. CORPORATE GOVERNANCE In the opinion of the Board, the Company has complied with the requirements under the Companies Ordinance, the Securities and Futures Ordinance for, among other things, the disclosure of information, and the code provisions (“ Code Provision ”) set out in Part 2 of the Corporate Governance Code (the “ Corporate Governance Code ”) contained in Appendix C1 to the Rules Governing the Listing of Securities (the “ Listing Rules ”) on The Stock Exchange of Hong Kong Limited (the “ HKSE ”) which sets out the corporate governance principles and Code Provisions with which listed issuers are expected to follow and comply throughout the year ended 31 December 2023, except the following:- In respect of Code Provision F.2.2 under the Corporate Governance Code, Mr. Deng Renjie, the then chairman of the Board, did not attend the annual general meeting of the Company held on 2 June 2023 due to business trip. Mr. Yim Kong, the Non-executive Director of the Company and the Vice Chairman of the Board, took chair of the annual general meeting according to the Company’s articles of association (the “ Articles of Association ”). In order to ensure effective communication with the shareholders, the chairmen of the Audit Committee, Nomination Committee and Remuneration Committee of the Company, other members of the Board and Board committees and the external auditor were present at the annual general meeting of the Company held on 2 June 2023 to answer shareholders’ questions, in compliance with other parts of the Code Provision F.2.2. OBJECTIVE, VALUE, STRATEGY AND CULTURE The core objective of the Company is to seek more returns for its shareholders and strive to become a “world’s leading comprehensive port service provider with high quality”. Staying committed to its mission of leading the development of the industry, the Company adheres to the customer- centric and market-oriented principle to serve as an industry role model. In this regard, the Company actively assumed its responsibilities to the employees, customers, shareholders, the society and the environment. Such objective and value also determined the Company’s strategy to pursue the goal of becoming a “world’s leading comprehensive port service provider with high quality”, so as to create value for the shareholders. The objective, value and strategy of the Company are the foundation of the Company’s corporate culture. Centering on high ethical standards and practices, balancing the needs of customers, employees, society and the environment, the Company’s corporate culture aims to achieve sustainable development and strives to create greater value for the Group, at the same time seeking more returns for the shareholders.