DIRECTORS’ REPORT MANAGEMENT CONTRACTS During the year ended 31 December 2021, the Company did not enter into any contract by which a person undertook the management and administration of the whole or any substantial part of any business of the Company. EMOLUMENT POLICY The emolument of the Directors and senior management were paid in the form of remuneration, salaries, equity settled share options, allowances, contributions to pension schemes, employee benefits, discretionary bonuses, fees and retirement benefits. The remuneration package of employees includes salary, bonuses and other cash elements. In general, the Company determines employee salaries based on each employee’s qualifications, experience, position and seniority. It has designed an annual review system to assess the performance of employees, which forms the basis to determine salary raises, bonuses and promotions. The Group is subject to social insurance contribution plans organised by relevant local governments. The Company believes that the salaries and benefits that its employees receive are competitive with market standards in each country where it conducts business. The Company also has in place long-term incentive schemes with details set out in paragraphs headed “KM ESOP, Tier 1 ESOP, Post-IPO Share Option Scheme and the Long Term Incentive Scheme” in this report. The Company has established a Remuneration Committee to review the policy and structure of the remuneration for the Directors and senior management and make recommendations on the remuneration packages of individual executive Directors and senior management. In general, the Company determines the emolument payable to its Directors based on each Director’s qualifications, experience, time commitment and responsibilities, remuneration paid by comparable companies as well as the performance of the Company. CHANGES OF INFORMATION IN RESPECT OF DIRECTORS Changes in the information of directors required to be disclosed under Rule 13.51B(1) of the Listing Rules since the date of interim report 2021 of the Company are set out as follows: Mr David Alasdair William Matheson has left Oxford Properties and joined Starwood Capital Group in January 2022. The Right Honourable Sir Hugo George William Swire, KCMG was appointed as a non-executive director of CBC Insurance Ltd in January 2022. Ms Jingsheng Liu resigned duties from China International Capital Corporation Limited in December 2021. Mr Hwee Chiang Lim, Dr Kwok Hung Justin Chiu and Mr Rajeev Veeravalli Kannan, who were appointed as non-executive directors of the Company with effect from 20 January 2022. R E A C H I N G N E W H E I G H T S 98
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