English

The Board of Directors (the "Board") and the Management (the "Management") of CEFC International Limited (the "Company") are committed to maintaining a high standard of corporate governance and endeavour to comply with the principles and guidelines of the Code of Corporate Governance 2012 (the "Code").

The Board and the Management believe that corporate governance is an integral element of a sound corporation as it promotes corporate transparency and protects and enhances shareholders' interest.

This report outlines the main corporate governance practices and processes with specifi c reference to the guidelines of the Code that were in place during the fi nancial year commencing 1 January 2016 to 31 December 2016 ("FY2016"). The Board notes that the Company has generally complied with the spirit and intent of the Code but in areas where the Company deviates from the Code, the rationale is provided.

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