Livzon Pharmaceutical updates key board committee charters

Livzon Pharmaceutical Group Inc. adopted revised terms of reference for three of its crucial board committees on October 23, 2025: the audit committee, the remuneration and assessment committee, and the environmental, social and governance (ESG) committee. These updates aim to enhance governance, oversight, and compliance with prevailing regulatory requirements, including the HK listing rules and Shenzhen listing rules.

The audit committee's updated charter details its responsibilities, including overseeing financial reporting, internal controls, and the appointment of external auditors. It also mandates at least quarterly meetings and requires the chairman to be an independent non-executive director (INED) with accounting qualifications. Similarly, the remuneration and assessment committee’s revised terms outline its duties in formulating and assessing remuneration policies for directors and senior management, focusing on competitive compensation and performance incentives.

The newly adopted terms for the ESG committee define its role in formulating and reviewing the group's ESG vision, objectives, strategies, and management policies, including identifying ESG risks and opportunities. This committee is also tasked with ensuring the preparation and disclosure of the ESG report in accordance with regulatory requirements and is expected to meet at least once a year. All three committees emphasize the importance of INEDs, with a majority required for quorum and leadership roles, ensuring independent oversight across critical governance areas.