Work Rules for the Board of Directors' Risk Control Committee
Ningbo Huaxiang Electronic Co., Ltd. Work Rules for the Board of Directors' Risk Control Committee
Chapter 1 General Provisions
Article 1 To strengthen the comprehensive risk management of Ningbo Huaxiang Electronic Co., Ltd. (hereinafter referred to as the "Company"), enhance its risk management capabilities, and improve the decision-making procedures for risk management, in accordance with the "Company Law of the People's Republic of China," the "Code of Corporate Governance for Listed Companies," and other laws, regulations, and normative documents, as well as the relevant provisions of the "Articles of Association," the Company hereby establishes the Board of Directors' Risk Control Committee and formulates these Work Rules.
Article 2 The Board of Directors' Risk Control Committee is primarily responsible for evaluating the Company's risk management system and management strategies, reviewing major risks of the Company, and proposing suggestions to the Board of Directors for improving the Company's risk control and internal control.
Chapter 2 Personnel Composition
Article 3 The Risk Control Committee shall be composed of three directors, at least one of whom shall be an independent director.
Article 4 The members of the Risk Control Committee shall be nominated by the Chairman, more than half of the independent directors, or one-third of all directors, and shall be elected by the Board of Directors.
Article 5 The Risk Control Committee shall have one Chairman (Convener), who shall be a director of the Company. The Chairman of the Risk Control Committee shall exercise the following powers: (1) Be responsible for presiding over the work of the Risk Control Committee; (2) Convene and preside over meetings of the Risk Control Committee; (3) Supervise and inspect the implementation of resolutions of the Risk Control Committee meetings; (4) Other powers granted by the Board of Directors.