Huabao International Holdings (HK:0336) has released an update.
Huabao International Holdings has established an Audit Committee to enhance decision-making, improve corporate governance, and ensure effective financial reporting and internal controls as per Hong Kong Stock Exchange rules. Comprised solely of non-executive directors, including one with relevant financial expertise, the Committee meets at least biannually with auditors and operates with full Board authority to seek information and obtain external advice. They play a pivotal role in auditor relations, including appointment and remuneration decisions, and in the case of disagreement with the Board, their recommendations are included in the corporate governance report.
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