Chapter 1 General Principles
Article 1
To standardize the procedures of the Audit Committee of Guanglian Aviation Industry Co., Ltd. (hereinafter referred to as the Company) and fully protect the legitimate rights and interests of the Company and its shareholders, these rules are formulated in accordance with the Company Law of the People's Republic of China (hereinafter referred to as the Company Law), the Guidelines for the Governance of Listed Companies, and other relevant laws, regulations, and normative documents, as well as the provisions of the Articles of Association of Guanglian Aviation Industry Co., Ltd. (hereinafter referred to as the Articles of Association), combined with the actual situation of the Company.
Article 2
The Audit Committee is a specialized committee under the Board of Directors and is accountable to the Board of Directors.
Article 3
The Audit Committee is responsible for reviewing the Company's financial information and its disclosure, supervising and evaluating internal and external audit work, and internal controls.
Chapter 2 Members of the Audit Committee
Article 4
The Audit Committee consists of 3 directors of the Company, who must not hold senior management positions in the Company, with independent directors making up the majority.
Article 5
The first members of the Audit Committee are nominated by the Chairman, while subsequent members are nominated by the Nomination Committee and elected by a majority of the Board of Directors. The committee shall have one convener, who is an independent director (must be an accounting professional) nominated by the Chairman and approved by the Board of Directors, responsible for presiding over the committee's work.
Article 6
Members of the Audit Committee must meet the qualifications stipulated by relevant laws, regulations, or the Articles of Association.
Article 7
The obligations of directors as stipulated in the Company Law and the Articles of Association apply to members of the Nomination Committee.