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Governance Profile

 

In 2013, according to Corporate Law, Securities Law and Principles of Public Company Governance as well as the documents on corporate governance published by China Securities Regulatory Commission and Shanghai Stock Exchange, Shanghai Electric Power has been constantly improving its corporate governance structure and standardizing its operation. During the reporting period, there is no significant difference between its actual situation of governance and the requirements in related documents published by China Securities Regulatory Commission. The concrete situation of corporate governance is as follows:

 

 

Shareholders' Meeting

Shanghai Electric Power has convened and held shareholders’ meetings in strict accordance with the related regulations of its Company Constitution。 During the reporting period, Shanghai Electric Power has held one annual shareholders meeting and one extraordinary shareholders meeting totally。 Related voting procedures of meeting convening and holding, formulated by related laws and regulations, Company Constitution and Rule of Procedure of Shareholders Meeting, have been strictly followed; shareholders meetings are witnessed by lawyers on the spot, who would issue legal opinions on the validity of the meetings。

Board of Directors & Board of Supervisors

Shanghai Electric Power has selected and recruited board directors and supervisors in strict accordance with the procedures regulated by Company Constitution, with the number and staff composition of the board of directors and board of supervisors meeting the rules and requirements formulated by laws and regulations. During the reporting period, Shanghai Electric Power has held 8 board meetings, 4 supervisory board meetings, 1 board's audit committee meeting and 2 board’s nominations committee meetings. Related convening, holding and voting procedures of those meetings mentioned above have strictly followed the requirements formulated by related laws and regulations, Company Constitution, Rule of Procedure of Board Meeting and Rule of Procedure of Supervisory Meeting.

Information Disclosure

Shanghai Electric Power has guaranteed to disclose information to investors on company production and operation, project progress and corporate governance timely, truly, correctly and completely. In 2012, besides the regular report disclosures, such as annual report, metaphase report and quarterly report, Shanghai Electric Power has disclosed 26 transitory bulletins; continued to improve the initiative and perspective of its information disclosure, and timely disclose the completed and full information of its corporate operation to its investors, in order to strengthen their understanding of its corporate value.

Investor Relations Management

In the board meetings, supervisory meetings and shareholders meetings, the strategic thinking and development direction of Shanghai Electric Power have been fully elaborated to all parties of the shareholders for their better understanding of the prospect development future of Shanghai Electric Power。 Top interviews by media have been accepted to fully elaborate on the historical contributions, realistic position and achieved operation performance of Shanghai Electric Power, aiming at expanding its company influence。 Shanghai Electric Power has participated in various strategy meetings held by securities traders to communicate with institutional investors; paid close and careful attention to the reception and communication with fund managers, industry analysts and other shareholders who come to visit; continuously explored its investment value。 In 2012, Shanghai Electric Power has received over 60 investment institutions coming to visit and initiatively visited 11 investment institutions。 Through unremitting efforts, the institutionally-held shares of Shanghai Electric Power have enjoyed an up-rising momentum, with an improved market image。

Internal Control & Risk Management

According to the uniform arrangements of China Securities Regulatory Commission, Basic Norms of Corporate Internal Control has been fully implemented in 2012. According to the requirements of the Norms, Shanghai Electric Power has formulated and implemented the practical planning of standardized internal control, getting ready for the disclosure of Self-evaluation Report on Internal Control and Audit Report on Internal Control of 2013. Through effective internal control management, Shanghai Electric Power has further improved its risk management and internal control system, with all the major risks being effectively identified and controlled and the operation and management level being further promoted.