On 16 October 2020, Binhai Investment convened its first Board meeting following Sinopec’s buy-in, in which the restructuring of the Board has marked a successful completion, further facilitating a more comprehensive corporate governance structure of the Company; among which, Mr. Wang Zhiyong, the Chairman of the Board of Tianjin TEDA Investment Holding Co., Ltd., a controlling shareholder of the Company, has been appointed as the Chairman of the Board and an executive director of the Company. In addition, Mr. Zuo Zhi Min, the General Manager of Sinopec Great Wall Gas Investment Co., Ltd., the second largest shareholder of the Company, has been appointed as the Vice Chairman of the Board and an executive director of the Company; and Mr. Shen Hong Liang, the Deputy General Manager of the aforesaid company, has also been appointed as a non-executive director of the Company.
A diverse composition of the Board serves as a vantage point for the Company to leverage on the expertise of each shareholder, and in the meantime, builds a synergetic, counter-balanced and robust corporate structure. Not only being a voice for directors, the Board will also become a more open platform that welcomes the communication of suggestions to further empower the Company to foster a decision-making mechanism of scientific and rational virtues, thus forming a solid strategic support for the advanced development of the Company to thrive on.