WuXi AppTec Tweaks Committee Terms for 2025: An Update

WuXi AppTec Co., Ltd. has announced revised terms of reference for both its audit committee and nomination committee, effective in 2025. These revisions aim to enhance board performance, improve audit and supervision functions, and optimize the composition of the board and senior management. The updates align with various regulatory frameworks, including the Company Law of the People's Republic of China and the Hong Kong Listing Rules.

The audit committee, composed of at least three non-executive directors (over half being independent, with at least one an accounting professional), will oversee financial reporting, internal and external audits, and internal controls. Key responsibilities include making recommendations on auditor appointments, reviewing financial statements for accuracy, and assessing risk management systems. The nomination committee, also comprising at least three directors (more than half independent and at least one of a different gender), will advise the board on its size, composition, and the selection, appointment, and succession planning for directors and senior management, emphasizing diversity and independence.

Both committees will report to the board, with their resolutions subject to board review and determination. Any rejections of committee proposals by the board will be disclosed with detailed reasons. The company will provide necessary resources and support for both committees to fulfill their duties, including designated personnel for daily operations and the ability to seek external professional advice at the company's expense. Information regarding the committees' work and any material non-compliance will be disclosed to maintain transparency.