Audit Committee

The Audit Committee of the Company is mainly responsible for reviewing and overseeing the financial reporting procedures and internal controls of the Group, reporting the results of such review and recommendations for improvement, if any, to the Board of Directors. The Audit Committee is also responsible for reviewing the quarterly, interim and full year financial statements, connected transactions, the appointment of and remuneration for auditors. The Audit Committee, currently comprising independent non-executive directors Dr. Cheung Wai Bun, Mr. Zhu Sendi, Dr. Lui Sun Wing and Ms. Yao Minfang, is chaired by Dr. Cheung Wai Bun, an independent non-executive director of the Company. The Audit Committee has recently amended the terms of reference of Audit Committee in accordance with the latest securities listing rules promulgated by the Hong Kong Stock Exchange by increasing the minimum number of the Audit Committee’s meetings with the auditor in the absence of the management from one to two, so as to discuss any matters regarding auditor fees, arising from auditing or raised by the auditor.

With regard to the detailed terms of reference for the Audit Committee, please refer to the related links.