 The relationship between CNPC and the Company |
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CNPC, the controlling shareholder of the Company, has exercised its rights and interests as shareholder at shareholders meetings in accordance with the law. CNPC has not directly interfered with the Companys decision-making, production or operation, nor has it prejudiced against the lawful interests of the Company and other shareholders. CNPC is independent from the Company in all aspects, including personnel deployment, assets, finance, organisation and business operations. At the time of listing of the Company, the Company and CNPC had entered into a Non-competition Agreement which ensures that CNPC will not engage either directly or indirectly in any business that is or may be in competition with any core business of the Company. The Board of Directors, the Supervisory Committee and the management team headed by the President of the Company also work independently. |