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Directors' and Senior Management's Remuneration
 12 Months Ended
Dec. 31, 2019
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Directors' and Senior Management's Remuneration
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DIRECTORS’ AND SENIOR MANAGEMENT’S REMUNERATION
Directors’ remuneration during 2019 is as follows:
 
                                                                                                                                
           
Contributions
     
           
relating to
     
       
Salaries,
   
social insurance,
     
   
Directors’
   
allowances
   
housing fund and
   
2019
 
   
fees
   
and bonuses
   
retirement scheme
   
Total
 
   
’000
   
’000
   
’000
   
’000
 
Executive directors (Expressed in RMB)
        
YANG Jie
1
  
 
—  
 
  
 
461
 
  
 
169
 
  
 
630
 
SHANG Bing
2
  
 
—  
 
  
 
1,354
 
  
 
89
 
  
 
1,443
 
LI Yue
3
  
 
—  
 
  
 
1,585
 
  
 
187
 
  
 
1,772
 
Wang Yuhang
4
  
 
—  
 
  
 
415
 
  
 
163
 
  
 
578
 
DONG Xin
5
  
 
—  
 
  
 
1,469
 
  
 
195
 
  
 
1,664
 
  
 
 
   
 
 
   
 
 
   
 
 
 
  
 
—  
 
  
 
5,284
 
  
 
803
 
  
 
6,087
 
  
 
 
   
 
 
   
 
 
   
 
 
 
Independent
non-executive
directors (Expressed in Hong Kong dollar)
        
CHENG Mo Chi, Moses
  
 
460
 
  
 
—  
 
  
 
—  
 
  
 
460
 
CHOW Man Yiu, Paul
  
 
455
 
  
 
—  
 
  
 
—  
 
  
 
455
 
YIU Kin Wah, Stephen
*
  
 
470
 
  
 
—  
 
  
 
—  
 
  
 
470
 
YANG Qiang
**
  
 
—  
 
  
 
—  
 
  
 
—  
 
  
 
—  
 
  
 
 
   
 
 
   
 
 
   
 
 
 
  
 
1,385
 
  
 
—  
 
  
 
—  
 
  
 
1,385
 
  
 
 
   
 
 
   
 
 
   
 
 
 
Directors’ remuneration during 2018 is as follows:
 
                                                                                                                                
           
Contributions
     
           
relating to
     
       
Salaries,
   
social insurance,
     
   
Directors’
   
allowances
   
housing fund and
   
2018
 
   
fees
   
and bonuses
   
retirement scheme
   
Total
 
   
’000
   
’000
   
’000
   
’000
 
Executive directors (Expressed in RMB)
        
YANG Jie
1
  
 
—  
 
  
 
—  
 
  
 
—  
 
  
 
—  
 
SHANG Bing
2
  
 
—  
 
  
 
867
 
  
 
134
 
  
 
1,001
 
LI Yue
3
  
 
—  
 
  
 
1,000
 
  
 
163
 
  
 
1,163
 
SHA Yuejia
6
  
 
—  
 
  
 
745
 
  
 
104
 
  
 
849
 
DONG Xin
5
  
 
—  
 
  
 
890
 
  
 
157
 
  
 
1,047
 
  
 
 
   
 
 
   
 
 
   
 
 
 
  
 
—  
 
  
 
3,502
 
  
 
558
 
  
 
4,060
 
  
 
 
   
 
 
   
 
 
   
 
 
 
Independent
non-executive
directors (Expressed in Hong Kong dollar)
        
WONG Kwong Shing, Frank
***
  
 
177
 
  
 
—  
 
  
 
—  
 
  
 
177
 
CHENG Mo Chi, Moses
  
 
460
 
  
 
—  
 
  
 
—  
 
  
 
460
 
CHOW Man Yiu, Paul
  
 
455
 
  
 
—  
 
  
 
—  
 
  
 
455
 
YIU Kin Wah, Stephen
*
  
 
417
 
  
 
—  
 
  
 
—  
 
  
 
417
 
YANG Qiang
**
  
 
—  
 
  
 
—  
 
  
 
—  
 
  
 
—  
 
  
 
 
   
 
 
   
 
 
   
 
 
 
  
 
1,509
 
  
 
—  
 
  
 
—  
 
  
 
1,509
 
  
 
 
   
 
 
   
 
 
   
 
 
 
 
Directors’ remuneration during 2017 is as follows:
 
           Contributions     
           relating to     
       Salaries,   social insurance,     
   Directors’   allowances   housing fund and   2017 
   fees   and bonuses   retirement scheme   Total 
   ’000   ’000   ’000   ’000 
Executive directors (Expressed in RMB)
        
SHANG Bing
2
   —      781    123    904 
LI Yue (Chief Executive Officer)
3
   —      781    151    932 
LIU Aili
7
   —      592    110    702 
SHA Yuejia
6
   —      702    148    850 
DONG Xin
5
   —      695    145    840 
  
 
 
   
 
 
   
 
 
   
 
 
 
   —      3,551    677    4,228 
  
 
 
   
 
 
   
 
 
   
 
 
 
Independent
non-executive
directors (Expressed in Hong Kong dollar)
        
WONG Kwong Shing, Frank
***
   470    —      —      470 
CHENG Mo Chi, Moses
   460    —      —      460 
CHOW Man Yiu, Paul
   455    —      —      455 
YIU Kin Wah, Stephen
*
   255    —      —      255 
  
 
 
   
 
 
   
 
 
   
 
 
 
   1,640    —      —      1,640 
  
 
 
   
 
 
   
 
 
   
 
 
 
 
 
1
 
Mr. YANG Jie was appointed as an executive director and the chairman of the Company with effect from March 21, 2019.
 
2
 
Mr. SHANG Bing resigned from his position as an executive director and the chairman of the Company with effect from March 4, 2019.
 
3
 
Mr. LI Yue resigned from his position as an executive director and chief executive officer of the Company with effect from October 11, 2019.
 
4
 
Mr. WANG Yuhang was appointed as an executive director of the Company with effect from October 24, 2019.
 
5
 
Mr. DONG Xin was appointed as an executive director of the Company with effect from March 23, 2017.
 
6
 
Mr. SHA Yuejia resigned from his position as executive director of the Company with effect from May 17, 2018.
 
7
 
Mr. LIU Aili resigned from his position as executive director of the Company with effect from September 29, 2017.
 *
Mr. Stephen YIU Kin Wah was appointed as an independent
non-executive
director of the Company with effect from March 23, 2017.
 **
Dr. YANG Qiang was appointed as an independent
non-executive
director and a member of the audit committee of the Company with effect from May 17, 2018 and he voluntarily waived his director’s fees.
 ***
Mr. Frank WONG Kwong Shing resigned from the role of independent
non-executive
director of the Company with effect from May 17, 2018.
In 2017, 2018 and 2019, executive directors of the Company voluntarily waived their directors’ fees.
The unpaid portion of executive directors’ performance related bonuses for 2019 will be determined based on the evaluation conducted in 2020, and the additional bonuses related to their term of service will be determined based on the evaluation conducted upon the completion of three-year evaluation period. Directors’ remuneration paid during 2019 included directors’ performance related bonuses and additional bonuses related to their term of service for previous years determined and paid during the year.
The Company’s senior management’s remuneration level during 2019, including basic remuneration for the year, performance related bonuses for prior year and additional bonuses related to their three-year term of service, was within the range between RMB1,500,000 to RMB2,000,000.