Annual Report 2023

REPORT OF THE DIRECTORS 24 The United Laboratories International Holdings Limited Annual Report 2023 Ms. Choy Siu Chit has entered into a service contract with the Company. She is required to retire by rotation at the annual general meeting of the Company in accordance with the articles of association of the Company. The basic emolument of Ms. Choy Siu Chit as an executive director is HK$3,060,000 per annum. She will also be entitled to a discretionary bonus as decided by the Board. The basic emolument of Mr. Fang Yu Ping, Ms. Zou Xian Hong and Ms. Zhu Su Yan as an executive director is HK$1,980,000 per annum, and they are also entitled to a monthly performance bonus not exceeding RMB60,000 as determined by the executive directors of the Company with reference to performance of the Group. Their subsequent appointment shall also be subject to their re-election following retirement by rotation at any subsequent annual general meeting of the Company in accordance with the articles of association of the Company. The amount of the annual salary increment and the bonus payable under such service contracts for executive directors is at the discretion of the Board and the remuneration committee of the Company, provided that the respective parties to such service contracts shall abstain from voting and not be counted in the quorum in respect of any such determination of the Board in relation to him or her. Each of Mr. Chong Peng Oon, Prof. Song Ming and Dr. Fu Qiushi has entered into a letter of appointment with the Company. The annual director’s fee for each of the above independent non-executive directors is HK$256,800. Save as disclosed in this annual report, none of the directors proposed for re-election at the forthcoming annual general meeting has a service contract with the Company which is not determinable by the employer within one year without payment of compensation (other than statutory compensation). MANAGEMENT CONTRACT No contracts concerning the management or administration of the whole or any substantial part of the business were entered into or in existence during the year.