The Company established the Audit Committee with written terms of reference in compliance with the Corporate Governance Code as set out in Appendix 14 to the Listing Rules. The Audit Committee consists of three members, including Mr. Guan Huanfei , Mr. Han Qinchun and Mr. Chen Yangsheng (all of them are independent non-executive Directors). Mr. Han Qinchun has been appointed as the chairman of the Audit Committee. The primary duties of the Audit Committee are to review the financial information of the Company, to oversee the financial reporting process, risk management and internal control systems of the Group, to oversee the audit process, to make recommendation on the appointment, re-appointment and removal of external auditor and to perform other duties and responsibilities as assigned by the Board.

The Company established the Remuneration Committee with written terms of reference in compliance with the Corporate Governance Code as set out in Appendix 14 to the Listing Rules. The Remuneration Committee consists of three members, including Ms. Wei Haiyan (our executive Director), Mr. Guan Huanfei (our independent non-executive Director) and Mr. Han Qinchun (our independent non-executive Director). Mr. Guan Huanfei, our independent non-executive Director, has been appointed as the chairman of the Remuneration Committee. The primary duties of the Remuneration Committee are to make recommendations to the Board on the policy and structure for all Directors’ and senior management remuneration and to make recommendations to the Board on the remuneration packages of individual Directors and senior management.

The Company established the Nomination Committee with written terms of reference in compliance with the Corporate Governance Code as set out in Appendix 14 to the Listing Rules. The Nomination Committee consists of three members, including Mr.Luo Jieping (our executive Director), Mr. Chen Yangsheng (our independent non-executive Director) and Mr. Han Qinchun (our independent non-executive Director). Mr. Chen Yangsheng, our independent non-executive Director, has been appointed as the chairman of the Nomination Committee. The primary duties of the Nomination Committee are to review the structure, size and composition of the Board and make recommendations to the Board on the appointment and removal of Directors of our Company.