To fulfill corporate responsibility and ensure the rights of shareholders and stakeholders, FENC regards integrity as its highest operating principle to secure sound governance, optimize corporate management and maximize shareholder interests.
Corruption and unethical conducts are detrimental to corporate reputation and stakeholder rights. To minimize the risk of corrupt conducts, FENC established an integrity and anti-corruption system with annual implementation of special projects.
Integrity and Anti-Corruption System
Highest Guiding Principle
Code of Conduct
|Best Practice Principles of Ethical Corporation Management and Code of Ethics approved by the Board|
|Corrupt conducts subject to FENC anti-corruption policy include unlawful conducts that cause embezzlement of corporate assets or infringement of shareholder rights, such as corruption, money laundering, bribery, kickback, commission, facilitating payment, illegal political donation, inappropriate charitable donation, unreasonable presents, improper conduct and unfair trade.|
Classification of Report Acceptance Level
According to the identity of the accused, investigation reports are classified and submitted based on the following principles:
Protection Measures of Whistleblower
Training and Promotion
⇥ Articles of Incorporation
⇥ Corporate Governance Principles
⇥ Best Practice Principles of Ethical Corporation Management
⇥ Code of Ethics
⇥ Whistle-blowing and Disciplinary Method of Violating Ethical Conduct and Ethical Management (Chinese)
⇥ Legal Compliance Execution Report (Chinese)
The Whistle-blowing and Disciplinary Method of Violating Ethical Conduct and Ethical Management went into effect in January 2022. Under its provisions, anonymous grievance claims are accepted to protect the rights of the claimants.
- There were no incidences of corrupt conducts at FENC.
- All Board members completed the anti-corruption training, representing 100% in completion.
- All new recruits in 2022 signed the declarations to commit to FENC’s Best Practice Principles of Ethical Corporation Management and Code of Ethics, representing 100% in completion, 240 in total. Promising to abide by the Company's Code of Ethics, and not to provide, promise, request or accept any improper benefits in the process of engaging in business conduct, or to engage in other dishonest acts that violate integrity, illegality, or breach of fiduciary obligations, and actively implement the Company's Principles of Ethical Corporate Management and related regulations.
- Reach 90% coverage in anti-corruption training among all permanent FENC employees.
- Provide anti-corruption promotion or training to 5,593 suppliers and contractors, including agents and traders, which represents 85% coverage.