Company: ZKH
Filing Date: 2025-04-17
Form Type: 20-F
Source: 0001410578-25-000779
Chunk: 8

Company: ZKH Group Ltd
Filing Date: 2025-04-17
Form: 20-F
Item: Item 16G
Chunk 8
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ITEM 16G. CORPORATE GOVERNANCE

As a Cayman Islands exempted company listed on the NYSE, we are subject to the NYSE corporate governance listing standards. However, we are a “controlled company” as defined under the NYSE corporate governance listing standards because Mr. Long Chen, our chairman of the board of directors and chief executive officer, beneficially owns more than 50% of our total voting power. As a controlled company, we rely on certain exemptions that are available to controlled companies from the NYSE corporate governance requirements, including the requirements:

  that a majority of our board of directors consist of independent directors;  

  that we have a compensation committee that is composed entirely of independent directors; and  

  that we have a corporate governance and nominating committee that is composed entirely of independent directors.  

Additionally, NYSE rules permit a foreign private issuer like us to follow the corporate governance practices of its home country. Certain corporate governance practices in the Cayman Islands, which is our home country, may differ significantly from the NYSE corporate governance listing standards. We rely on the exemption available to foreign private issuers for the requirements:

  that an audit committee be comprised of at least three members under Section 303A.07 of the NYSE Listed Company Manual; and  

  that annual general meeting of shareholders be held during each fiscal year under Section 302.00 of the NYSE Listed Company Manual.  

Table of Contents

As a result of our election to follow home country practice with respect to the foregoing matters, our shareholders will not have the same protection that they otherwise would enjoy under the NYSE corporate governance listing standards applicable to U. S. domestic issuers. See “ Item 3. Key Information - D. Risk Factors - Risks Related to Our ADSs - As a company incorporated in the Cayman Islands, we are permitted to adopt certain home country practices in relation to corporate governance matters that differ significantly from the NYSE corporate governance listing standards; these practices may afford less protection to shareholders than they would enjoy if we complied fully with the NYSE corporate governance listing standard,” and “ Item 3. Key Information - D. Risk Factors - Risks Related to Our ADSs - We are a ‘controlled company’ within the meaning of the NYSE corporate governance listing standards and, as a result, may rely on exemptions from certain corporate governance requirements that provide protections to shareholders of other companies.”

ITEM 16H. MINE SAFETY DISCLOSURE

Not applicable.

ITEM 16