Company: CAAS
Filing Date: 2025-07-01
Form Type: F-4
Source: 0001104659-25-064447
Chunk: 105

Company: China Automotive Systems, Inc.
Filing Date: 2025-07-01
Form: F-4
Chunk 105
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 be or becomes of unsound mind, (d) resigns his
or her office by notice in writing to CAAS Cayman, (e) without special leave of absence from the board, is absent from meetings of
the board for three consecutive meetings, and the board resolves that his or her office be vacated; or (f) is removed from office
pursuant to any other provision of the Amended CAAS Cayman Articles.

Terms of Directors

A director shall hold office until such time as
he or she resigns his office by notice in writing to CAAS Cayman, is removed from office by ordinary resolution or is otherwise disqualified
from acting as a director or removed in accordance with the Amended CAAS Cayman Articles.

Code of Business Conduct and Ethics

CAAS Cayman has adopted a Code of Business Conduct
and Ethics applicable to its directors, officers and employees. CAAS Cayman seeks to conduct business ethically, honestly, and in compliance
with applicable laws and regulations. CAAS Cayman’s Code of Business Conduct and Ethics sets out the principles designed to guide
CAAS Cayman’s business practices — compliance, integrity, respect and dedication. The code applies to all directors,
officers, employees and extended workforce, including chairperson and chief executive officer and chief financial officer. Relevant sections
of the code also apply to members of the CAAS Cayman board of directors. CAAS Cayman expects its suppliers, contractors, consultants,
and other business partners to follow the principles set forth in its code when providing goods and services to CAAS Cayman or acting
on CAAS Cayman’s behalf.

Compensation of Directors and Officers

No compensation has been paid to director and officer
appointees of CAAS Cayman for their services rendered to CAAS Cayman.

For the year ended December 31, 2024, the
Company paid an aggregate of US$1.8 million in cash and benefits to director and officer appointees of CAAS Cayman. The Company’s
mainland China subsidiaries are required by law to make contributions equal to certain percentages of each employee’s salary for
his or her pension insurance, medical insurance, unemployment insurance, work-related injury insurance and maternity insurance and other
statutory benefits, and a housing provident fund.

Share Incentive Plan

The Company has a 2004 stock option plan (the “2004
Stock Option Plan”). At the 2014 annual meeting of stockholders, the stockholders of the Company