We have established the following four committees in our Board: an audit committee, a remuneration committee, a nomination committee and an ESG committee. The committees operate in accordance with the terms of reference established by our Board.

Audit committee
We have established an audit committee whose primary duties are to assist our Board to provide an independent review of the effectiveness of the financial reporting process, internal control and risk management.

Our audit committee consists of three independent non-executive Directors, Mr. Chan Him Alfred, Mr. Lo Kin Cheung and Mr. Wang Xiufeng. Mr. Lo Kin Cheung, who has professional qualifications in accountancy, is the chairman of the audit committee.

Remuneration committee
We have established a remuneration committee whose primary duties are to consider and recommend to the Board the emoluments and other benefits paid by us to our Directors and to assess the appropriateness of the nature and amount of emoluments of such senior management on a periodic basis by reference to relevant employment market conditions with the overall objective of ensuring maximum Shareholder benefit from the retention of talented individuals.

Our remuneration committee consists of three independent non-executive Directors, Mr. Chan Him Alfred, Mr. Lo Kin Cheung and Mr. Wang Xiufeng, and one executive Director, Mr. Wang Xinhua. Mr. Wang Xiufeng is the chairman of the remuneration committee.

Nomination committee
We have established a nomination committee whose primary duties are to formulate the nomination procedures and standards for candidates for Directors and senior management, conduct preliminary review of the qualifications and other credentials of the candidates for Directors and senior management, and recommend suitable candidates for Directors and senior management to the Board.

Our nomination committee consists of three independent non-executive Directors, Mr. Chan Him Alfred, Mr. Lo Kin Cheung and Mr. Wang Xiufeng, and one executive Director, Mr. Tam Cheuk Ho. Mr. Chan Him Alfred is the chairman of the nomination committee.

ESG committee
We have established an environmental, social and governance (ESG) committee whose primary purpose is to assist the Board in defining the strategy relating to ESG matters and in reviewing the practices and initiatives relating to ESG matters, including environmental protection and the response to the challenge of climate change, workplace policies, operating practices and community involvement, and the ethical conduct of our business.

Our ESG committee consists of one executive Director, Mr. Wang Xinhua, one independent non-executive Director, Mr. Wang Xiufeng, and the deputy general manager of Guizhou Puxin, Mr. Lin Quanlong, and head of human resources of Guizhou Puxin, Ms. Qin Lu. Mr. Wang Xinhua is the chairman of the ESG committee.