In accordance with the requirements of the Rules Governing the Listing of Securities on the Stock Exchange of Hong Kong Limited ("Listing Rules"), the Company has established an audit committee in compliance with the Corporate Governance Code as set out in Appendix 14 to the Listing Rules and appointed a qualified accountant to oversee the Company’s financial reporting procedures and internal controls so as to ensure compliance with the Listing Rules.
In accordance with the requirements of the Listing Rules, the Company has also established each a renumeration committee, a nomination committee and a corporate governance committee in compliance with the Corporate Governance Code as set out in Appendix 14 to the Listing Rules.
The Company has also adopted a system of corporate governance.
The Company is committed to the view that the Board should include a balanced composition of executive and non-executive Directors (including independent non-executive Directors) so that there is a strong independent element on the Board, which can effectively exercise independent judgment. The Company is also committed to the view that the independent non-executive Directors should be of sufficient caliber and number for their views to carry weight. The independent non-executive Directors, are free of any business or other relationship with the Directors or the Group in general which could interfere in any material manner with the exercise of their independent judgment.
There are four Board committees. The table below provides membership information of these committees on which each Board member serves (Effective 1 July 2019):