# RESERVES

Details of movements in the reserves of the Group and the Company during the year are set out in the consolidated statement of changes in equity and note 40 and note 50 to the consolidated financial statements, respectively.

# DISTRIBUTABLE RESERVES

As at December 31, 2020, the Company ’s distributable reserves, calculated in accordance with PRC rules and regulations, were RMB1,630.9 million.

# DIRECTORS AND SUPERVISORS

The Directors and Supervisors during the year and as of the date of this annual report are as follows:

# Executive Directors

Dr. LOU Boliang (樓柏良) (Chairman)

Mr. LOU Xiaoqiang (樓小強)

Ms. ZHENG Bei (鄭北)

# Non-executive Directors

Mr. CHEN Pingjin (陳平進)

Mr. HU Baifeng (胡柏風)

Mr. LI Jiaqing (李家慶)

Mr. ZHOU Hongbin (周宏斌)

# Independent Non-executive Directors

Mr. DAI Lixin (戴立信)

Ms. LI Lihua (李麗華) (ceased on July 23, 2020)

Ms. CHEN Guoqin (陳國琴)

Ms. SHEN Rong (沈蓉) (ceased on July 23, 2020)

Mr. TSANG Kwan Hung Benson (曾坤鴻)

Mr. Yu Jian (余堅) (appointed on July 23, 2020)

# Supervisors

Dr. YANG Kexin (楊珂新) (Chairperson)

Mr. LIU Jun (劉駿) (ceased on December 11, 2020)

Ms. Feng Shu (馮書) (appointed on December 11, 2020)

Ms. ZHANG Lan (張嵐)

Biographical details of the Directors, the Supervisors and the senior management of the Group as of the date of this annual report are set out on pages 40 to 48 in the section headed “Profiles of Directors, Supervisors and Senior Management” of this annual report.

# DIRECTORS’ AND SUPERVISORS’ INTERESTS IN TRANSACTION, ARRANGEMENT OR CONTRACTS OF SIGNIFICANCE

The Group has not entered into any transaction agreement or contract of significant in which the Group’s Directors and Supervisors have direct or indirect material interests during the Reporting Period.

# CONTROLLING SHAREHOLDERS’ INTERESTS IN CONTRACTS OF SIGNIFICANCE

None of the Controlling Shareholders has or had a material interest, either directly or indirectly, in any contract of significance, whether for the provision of services or otherwise, to the business of the Group to which the Company or any of its subsidiaries was a party during the Reporting Period.

# DIRECTORS’ INTERESTS IN COMPETING BUSINESS

During the Reporting Period, none of the Directors or their respective associates (as defined under the Listing Rules) had engaged in or had any interest in any business which competes or may compete, either directly or indirectly, with the business of the Group.

# EMOLUMENTS OF THE DIRECTORS AND THE FIVE HIGHEST PAID INDIVIDUALS

The remuneration committee determines or makes recommendation to the Board (as case may be) on the remuneration and other benefits payable to the Directors and Supervisors by the Group. The committee regularly oversees the remuneration of all Directors and Supervisors to ensure that their remuneration and compensation are at an appropriate level. The Group maintains competitive remuneration packages with reference to the industry standard and according to the business development of the Group, and determines remuneration of the Directors and Supervisors based on their qualifications, experience and contributions, to attract and retain its Directors and Supervisors as well as to control costs.