MengDian HuaNeng reappoints deputy general manager, details compensation

Inner Mongolia MengDian HuaNeng Thermal Power Corp. announced that its board of directors approved the reappointment of Wang Xiaorong as deputy general manager for a three-year term. Wang, born in September 1971, is a senior accountant with extensive experience within the company, having previously served in various financial and managerial roles, including head of the finance department, deputy chief accountant, and secretary of the board of directors. He currently holds positions as employee representative director, chairman of the labor union, and party committee member.

The company's "Management Compensation Measures" detail that senior management compensation comprises a basic annual salary, performance-based annual salary, and long-term incentive income. Basic annual salaries are determined annually and paid monthly, with the deputy general manager's base annual salary multiplier set between 0.6 and 0.9 times that of the general manager. Performance-based annual salaries are linked to annual performance evaluations, with deferral and clawback mechanisms in place.

Long-term incentive income, linked to term-based performance, is paid once at the end of the term, not exceeding 15% of the total remuneration for the term. Compensation is subject to deductions for safety accidents, regulatory violations, and disciplinary actions. The policy also outlines social insurance, housing provident funds, enterprise annuities, and welfare benefits for management.