Beijing Urban Construction Design & Development establishes audit and risk committee

Beijing Urban Construction Design & Development Group Co., Limited has established an Audit and Risk Committee under its board of directors. The committee aims to strengthen decision-making, improve internal controls, and enhance corporate governance. Its responsibilities include supervising external auditors, overseeing internal audit work, assessing internal control and risk management systems, and analyzing significant investment risks. This move aligns with the Company Law of the People's Republic of China and the Hong Kong Listing Rules.

The committee will comprise three or more non-executive directors, with a majority being independent non-executive directors. Members must possess relevant business skills and considerable financial knowledge. At least one independent non-executive director will have expertise in accounting or financial management, as per Hong Kong Listing Rules requirements. The chairman, an independent non-executive director, will preside over the committee's work.

Meetings of the audit and risk committee will be held at least quarterly, including regular meetings before the public announcements of interim and annual reports. The committee will review financial reports, internal audit work, risk management systems, and external auditor communications, providing recommendations to the board of directors.