Compliance with the law and the principles of business ethics has always been a part of OPPO's Benfen values, and the bedrock of our commercial operations. Throughout the company, we maintain a plain and universal commitment to compliance, alongside mechanisms for ensuring compliance. This is a basic safeguard for our business.
Today, the OPPO family numbers more than 40,000 people, and our business spans over 40 countries and regions around the world. The complexity of compliance requirements is increasing sharply with the current turmoil in our markets and the international environment. As a global corporate citizen, comprehensive, systematic compliance management is a fundamental part of OPPO's social responsibility. It is also core to our Benfen values.
We make this undertaking: In every country and region where we operate, OPPO will comply with local law and local market regulations. We will respect local principles of business ethics, religious customs, and good morals. Within the company, we will make ongoing efforts to manage compliance effectively.
First, OPPO will maintain a level of compliance expertise. This includes expertise on: global data protection and privacy; trade compliance; protection of trade secrets; prevention of commercial bribery; competition law; financial compliance. We aim to lead the industry in compliance, and to this end we will fully and deeply understand all compliance requirements upon us, and work continually to develop and improve OPPO's compliance systems.
Second, OPPO will refine our compliance management systems. We will establish comprehensive systems for maintaining compliant operations. We will specify all compliance rules, and embed these rules into our business processes and commercial activities. Compliance audits will be used to test and improve our compliance management. And we will build awareness of compliance in our workforce by fostering a culture that says, "I want to be compliant."
Third, we will establish "three lines of defense" for compliance. By creating dedicated departments and shared platforms for compliance management, OPPO will build "three lines of defense" for compliance risk, comprising operational departments, specialist compliance departments, and audit departments. Compliance management will be the responsibility of operational teams, as part of an effective compliance system that covers every part of the company, and in which every employee is an active participant.
Good compliance systems are the solid foundation on which the company can operate healthily. Managers must recognize the importance of compliance, and invest resources in compliance on a sustained basis. Every OPPO employee should proactively fulfill their own compliance obligations. Compliance is an expression of our Benfen values, and it is a step toward our vision of a healthy, sustainable company.
Tony
Chen Mingyong
