Remuneration and Incentives

We adhere to the development concept of “Win-Win and Common Prosperity”, emphasizing that employee benefits should be combined with enterprise development to form a harmonious labor relationship. The Group has formulated the Remuneration Management Policy (《薪酬管理制度》), Welfare Management Policy (《福利管理制度》) and Performance Management Policy (《績效管理制度》) and continuously improved the remuneration system based on performance assessment in order to create a fair and just working environment. The Group is committed to achieving the goals of “consistency in responsibilities and interests, abilities and values, risks and returns, performance and income” in remuneration distribution，equal pay for equal work.Diversified performance assessment methods such as annual debriefing evaluation, performance assessment, objective management assessment and personnel evaluation are implemented for different positions according to position characteristics and implement corresponding remuneration and incentive policies based on the assessment results. 

The Group has also formulated systems such as the Administrative Measures on Economic Value Added (EVA) Sharing Prize (《EVA分享奖管理办法》), the Restricted Share Award Scheme (《限制性股份奖励计划》) and the Selection and Incentive Measures on Outstanding Talents (《优秀人才评选与激励办法》) to enrich the ways in encouraging, attracting, and retaining talents, so as to promote a more stable, healthy, and sustainable development of the talent team.

Basic Salaries

Year-end Bonus

EVA Sharing Prize

Prize for Outstanding Talents

Share Award

 For separating staff,The Group regulates the resignation procedures in accordance with relevant laws, regulations and labor contracts, including a certificate of rescission or termination of the labor contract issued by the Human Resources Department for departing employees, and the settlement for their compensation and insurances according to the Remuneration Management Policy (《薪酬管理制度》) and the Welfare Management Policy (《福利管理制度》). At the end of the Reporting Period,The Group's full-time employee turnover rate was 3.6% for men and 3.3% for women, with a voluntary turnover rate of 3.0%.

Employee Welfare

The Group has formulated the Welfare Management Policy and established a welfare system consisting of statutory welfare and complementary welfare to safeguard employees' benefits and welfare.

Statutory Welfare:

Social Insurance

Housing Provident Fund

Holidays

Complementary Welfare:

Emergency Relief Fund

Supplementary Insurance

Catering and Accommodation

Interest-free Home Loan

Health Check

Sympathy

Employee Activities Funds

Other Benefits and Allowances

This year the Group has added a new parental leave, within three years of the child's age, in Zhejiang Province, each spouse is entitled to 10 days of childcare leave during each weekly age of the child, while the number of days of childcare leave for companies in other regions is implemented in accordance with local laws and regulations.

To practically understand and fulfill various demands of employees, the Group invites professional third-party agencies to conduct employee satisfaction surveys every year to consistently improve the human resource management of the Group. Satisfaction surveys cover:Job satisfaction, job motivation, job happiness well-being, job stress, work environment, career development, compensation and benefits.