Honghua Group Limited (Stock Code: 196) released a revised version of its Nomination Committee Terms of Reference in October 2025. The document outlines clear rules for membership, responsibilities, and reporting procedures, aiming to strengthen the board’s structure and compliance with the Hong Kong Listing Rules.
Under the revised terms, the Nomination Committee must consist of at least three directors, with a majority being independent non-executive directors and at least one member of a different gender. The chair of the committee must either be the chairman of the board or an independent non-executive director. Its key responsibilities include reviewing the board’s structure and composition, identifying and recommending qualified candidates for director positions, and assessing director independence.
The new guidelines also detail the committee’s meeting procedures, including the requirement to hold at least one meeting per year and to circulate meeting materials to members well in advance. In addition, the revised terms highlight the need to maintain sufficient transparency and ensure that any committee decisions are reported to the board shortly after each meeting. These changes underscore Honghua Group Limited’s commitment to robust corporate governance and the continuous evaluation of board performance.
