The Company established the audit committee as approved by the Board on 8 June 2007. The audit committee currently comprises three independent non-executive Directors. Mr. Jiang Xihe is the chairman of the audit committee, and other members are Dr. Chan Yau Ching, Bob and Mr. Nathan Yu Li. [...] The primary duties of the audit committee are to review and provide supervision on the financial reporting process, risk management and internal control systems of the Company as well as nominating and supervising the external auditor and offering advice and recommendations to the Board of the Company. [...] During the Year, the audit committee (i) reviewed the annual report for the year ended 31 December 2023 and the interim report for the six months ended 30 June 2024 of the Company and reported the review conclusions to the Board; (ii) reviewed the independence of external auditors; (iii) considered and approved the external auditor's remuneration and letter of engagement for the year ended 31 December 2023; and (iv) reviewed the internal control review reports, reviewed the appropriateness and effectiveness of the risk management and internal control systems of the Group as well as the internal audit function of the Group and made recommendations to the Board on the improvement of internal control, credit control and risk management of the Group.