When the board of directors is set up by a limited liability company , it shall be responsible for the shareholders’ meeting and exercise the following functions:

(1)Convening shareholders’ meetings and presenting reports thereto;

 (2)Adopting resolutions made at the shareholders’ meetings;

(3)Determining the operational plans and investment plans;

(4)Working out the company’s annual financial budget plans and final account plans;

(5)Working out the company’s profit distribution plans and loss recovery plans;

(6)Working out the company’s plans on the increase or reduction of registered capital, as well as on the issuance of corporate bonds;

(7)Working out the company’s plans on merger, split-up, change of the company form, dissolution, etc.;

(8)Making decisions on the establishment of the company’s internal management departments;

(9)Making decisions on hiring or dismissing the company’s manager and his remuneration, and, according to the nomination of the manger, deciding on the hiring or dismissal of vice manager(s) and the person in charge of finance as well as their remuneration;

(10)Working out the company’s basic management system; and (11)Other functions as specified in the articles of association.