Corporate governance

Overview

The Company believes that good corporate governance provides a solid basis for the Group to manage the Group's business risks more effectively, increase transparency, promote a high standard of accountability and protect shareholders' interests in a comprehensive manner.

Directors

See prospectus for details

Board Committees

Audit Committee

We established an audit committee on 6 June 2020 with written terms of reference in compliance with Rule 3.21 of the Listing Rules and the Corporate Governance Code as set out in Appendix 14 to the Listing Rules. The audit committee consists of three members, being three INEDs, namely Ng Chi Kit, who is the chairman of the audit committee, Professor Wang, and Peng Sujiu. Mr Ng Chi Kit is an INED possessing the appropriate professional qualifications or accounting or related financial management expertise as required under Rule 3.10(2) of the Listing Rules. The primary duties of the audit committee are to provide our Directors with an independent review of the effectiveness of the financial reporting process, internal control and risk management system of our Group, to oversee the audit process and to perform other duties and responsibilities as assigned by our Directors.

Remuneration Committee

We established a remuneration committee on 6 June 2020 with written terms of reference in compliance with Rule 3.25 of the Listing Rules and the Corporate Governance Code as set out in Appendix 14 to the Listing Rules. The remuneration committee consists of three members, being three INEDs, namely Ng Chi Kit, Peng Sujiu and Wang Yingdian, who is the chairman of the remuneration committee. The primary duties of the remuneration committee include, amongst others, the following matters: (i) making recommendations to our Directors on our policy and structure for remunerations of all our Directors and senior management and on the establishment of a formal and transparent procedure for developing policies on such remuneration; (ii) determining the terms of the specific remuneration package of our Directors and senior management; and (iii) reviewing and approving performance-based remuneration by reference to corporate goals and objectives resolved by our Directors from time to time.

Nomination Committee

We established a nomination committee on 6 June 2020 with written terms of reference in compliance with the Corporate Governance Code as set out in Appendix 14 to the Listing Rules. The nomination committee comprises of three members, being two of the INEDs, being Peng Sujiu and Wang Yingdian and one executive Director, being Mr Tan, who is the chairman of the nomination committee. The primary duties of the nomination committee are to make recommendations to our Directors on all new appointments of Directors and senior management, interviewing nominees, to take up references and to consider related matters.

Shareholders

See prospectus for details