The maintenance of a high standard of corporate governance has been and remains a top priority of Liaoning Port Co., Ltd. (the "Company"). The board of directors of the Company (the "Board") believes that conducting business in an transparent and responsible manner serves the Company's long term interests and the shareholders can enhance their benefits from good corporate governance. The Company has been endeavoring to improve its corporate governance practices since its establishment, and has adopted the code provisions set out in the Code on Corporate Governance Practices (the "Corporate Governance Code") contained in Appendix 14 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules") as its own code on corporate governance practices since the date of its listing on the Stock Exchange.