Pursuant to Rule 3.21 of the Listing Rules, an audit committee was established by our Board with written terms of reference in compliance with the Code of Corporate Governance Practices as set out in Appendix 14 to the Listing Rules. The primary duties of the audit committee are to review and supervise our Group’s financial reporting process and internal control system. The audit committee comprises the three independent non-executive Directors, namely Lee Keung, Bai Changhong and An Na. Lee Keung is the chairperson of the audit committee.

We established the remuneration committee with written terms of reference in compliance with the Code of Corporate Governance Practices as set out in Appendix 14 to the Listing Rules. The primary duties of the remuneration committee are to make recommendations to our Board on the remuneration policies and structure of the remuneration for the Directors and senior management and to set up a formal and transparent procedure for determination of such remuneration policies. The remuneration committee comprises the three independent non-executive Directors, namely, An Na, Lee Keung, and Bai Changhong. An Na is the chairperson of the remuneration committee.

We established the nomination committee with written terms of reference in compliance with the Code of Corporate Governance Practices as set out in Appendix 14 to the Listing Rules. The primary duty of the nomination committee is to make recommendations to our Board on the appointment of Directors and senior management. The nomination committee comprises the three independent non-executive Directors namely, Bai Changhong, An Na and Lee Keung. Bai Changhong is the chairperson of the nomination committee.