Bank of Qingdao Co., Ltd. has released a revised version of the Terms of Reference for the Nomination Committee of the Board of Directors, effective November 2025. The document was formulated in accordance with the Company Law of the People’s Republic of China, the Commercial Banking Law of the People’s Republic of China, and relevant listing rules. The primary goal is to streamline the procedures for selecting directors and senior management, enhance board composition, and improve corporate governance.

The revised framework specifies that the Nomination Committee must consist of at least three directors, with more than half being independent directors and at least one member of a different gender. The committee is vested with formulating criteria and procedures for the selection, training, and nomination of candidates for directorships and senior management. Its responsibilities also include preliminary reviews of qualifications and credentials, making recommendations to the board on appointments or dismissals, and assisting with the regular evaluation of the board’s performance.

The document outlines rules for meetings, including the minimum frequency, necessary voting mechanisms, and confidentiality obligations. It clarifies that the Nomination Committee may request information from senior management as needed and can seek external professional advice. The revised Terms of Reference will be implemented following board approval, and the Board of Directors retains the right to interpret its provisions going forward.