Overview of Corporate Governance

FTXT was established by Great Wall Holding Group on April 15, 2019 after 3 years of internal incubation, with a registered capital of 450 million RMB. Our company is committed to returning the power that drives the world to nature and promoting sustainable development of mankind with renewable energy.

In December 2021, the company absorbed Series-A round financing with 900 million RMB and the post-investment market value exceeded 4 billion RMB, which set a number of financing records for the development of China's hydrogen energy industry. Through Series-A financing, FTXT successfully introduced Beijing - Tianjin - Hebei Industrial Cooperative Development Investment Fund(Limited Partnership), PICC Sci-Tech innovation Equity Investment Fund , CCB Pioneering Emerging Industry Development Fund and other strategic investors, continuously optimize the shareholders, further improve the corporate governance, strengthen the endogenous dynamic of corporate governance, refine the efficiency of management, to build good corporate governance ecological system.

Shareholders’Meeting is the highest authority of the company, making decisions on major issues such as the amendment of articles of resolutions, capital increase, profit distribution, election and replacement of directors and supervisors.

As the decision-making body of the company, the board of directors is responsible to Shareholders’ Meeting and exercises the decision-making power of the company's strategic management and operation management to ensure the maximization of shareholder value.

Shareholders’ Meeting

Shareholders’ Meeting is the highest authority of the company and currently consists of 15 legal entities and individual shareholders.

Key responsibilities:

• To decide on the company's plans of business operation and investment;

• To elect and replace directors and supervisors, and to decide on matters relating to their remuneration;

• To examine and approve reports of the board of directors;

• To examine and approve the reports of supervisors;

• To examine and approve the company's annual financial budget plan and final account plan;

• To examine and approve the plans for company's profit distribution and losses making-up.

• To decide on the increase or decrease of the company's registered capital;

• To decide on the issuance of company bonds;

• To decide on merger, division, dissolution, liquidation or change of company form;

• To revise the articles of resolutions of company;

Board of Directors 

The board of directors is the decision-making body of the company and is responsible to Shareholders’ Meeting. At present, the board of directors consists of 3 members, including Chairman and Executive Director Zhang Tianyu, Non-executive Directors Tang Haifeng and Du Shuo.

Key responsibilities:

• To convene meetings and report work to Shareholders’Meeting;

• To implement the resolutions of Shareholders’Meeting;

• To decide on the company's plans of business and investment;

• To formulate the company's annual financial budget plan and final account plan;

• To formulate the plans for company's profit distribution and losses making-up.

• To formulate plans for increasing or decreasing the company's registered capital and issuing corporate bonds;

• To formulate plans for merger, division, dissolution or change of company form;

• To decide on the establishment of the company's internal management structure;

• To decide on the appointment or dismissal of the general manager and his remuneration, and to decide on the appointment or dismissal of the deputy general manager and the financial of administrator and their remuneration upon the nomination of the general manager;

• To decide on the employment or dismissal of the accounting firm undertaking the company's audit business;

• To formulate the basic management system of the company;