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Corporate Governance Report
Glorious Property
Annual Report 2011
The Board and the management of the Company are committed to achieving and maintaining high standards of
corporate governance which they believe are crucial to the development of the Company and the benefits of its
shareholders.
As a responsible business enterprise, the corporate governance standards of the Company are built on the principles of
independence, accountability, transparency and honesty.
The Company has complied with the applicable code provisions of the Code on Corporate Governance Practices as
set out in Appendix 14 of the Rules Governing the Listing of Securities (the “Listing Rules”) on The Stock Exchange
of Hong Kong Limited (the “Stock Exchange”) throughout the year ended 31 December 2011 (the “Review Period”),
save for the deviation from the code provision E.1.2 which stipulates that the chairman of the board should attend the
annual general meeting. The Chairman of the Board did not attend the annual general meeting of the Company (the
“AGM”) held on 20 May 2011 due to other business engagements. Mr. Cheng Li Xiong, the Chief Executive Officer
and executive director of the Company, chaired the AGM on behalf of the Chairman of the Board and was available to
answer questions.
Board Composition
During the Review Period and up to the date of this report, the Board consists of the following directors (the “Directors”):
EXECUTIVE DIRECTORS:
Mr. Zhang Zhi Rong
(Chairman)
Mr. Ding Xiang Yang
(Vice Chairman)
Mr. Cheng Li Xiong
(Chief Executive Officer)
Mr. Liu Ning
(Chief Operating Officer)
Mr. Xia Jing Hua
Mr. Yan Zhi Rong
Mr. Yu Xiu Yang (appointed at the AGM held on 20 May 2011)
Mr. Li Xiao Bin (retired at the AGM held on 20 May 2011)
INDEPENDENT NON-EXECUTIVE DIRECTORS:
Mr. Yim Ping Kuen
Mr. Liu Shun Fai
Mr. Wo Rui Fang
Mr. Han Ping
Biographical details of the Directors are set out on pages 64 to 66 of this annual report. Mr. Ding Xiang Yang is the
brother-in-law of Mr. Zhang Zhi Rong. Save as aforesaid, the Board members have no financial, business, family and/or
other material relationships with each other. The Company has arranged appropriate insurance cover for the Directors.
The composition of the Board reflects the necessary balance of skills and experience desirable for effective leadership of
the Company and independence in decision-making.
All Directors of the Company bring a wide spectrum of valuable business experience, knowledge and professionalism to
the Board to ensure its efficient and effective functioning.
The Company has four independent non-executive Directors (“INEDs”), at least one of whom has appropriate financial
management expertise in compliance with the Listing Rules. The Company has received annual independence
confirmations from all the INEDs and concluded that all of them are independent pursuant to Rule 3.13 of the Listing
Rules.