YIXIN GROUP LIMITED (the “Company”), listed as Stock Code 02858, issued an announcement in March 2026 detailing the Terms of Reference for its Audit Committee. The document highlights the Committee’s role in upholding transparent financial reporting practices, risk management protocols, and internal control measures. It also clarifies how the Board of Directors and the Audit Committee collaborate to maintain effective oversight.
The Terms of Reference outline key requirements for the Committee’s composition: it must comprise at least three non-executive directors, the majority of whom must be independent. The Committee is authorized to convene meetings at least twice a year, with additional sessions if needed. A quorum of two members is required, and discussions cover financial statement integrity, external auditor appointments, and the monitoring of the Company’s financial controls and internal audit functions.
The announcement specifies that any former partner of the current external auditing firm is barred from serving on the Committee for a two-year period. The Terms of Reference also mandate the Committee to report promptly to the Board regarding recommendations or decisions, ensuring that any difference of opinion between the Board and the Committee on audit-related matters is clearly explained in the Company’s corporate governance report. The Company’s initiative underscores a commitment to robust corporate governance standards and transparent audit practices.
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