Suzhou Novosense Microelectronics Co., Ltd. officially released the Terms of Reference for the Audit Committee under its Board of Directors. According to the document, the Committee is composed of three non-executive directors, including two independent non-executive directors, with at least one member holding accounting qualifications. All members are directors who do not hold senior management positions.

The Audit Committee focuses on overseeing both internal and external audit activities. Its responsibilities include reviewing financial disclosures, supervising auditors, and ensuring the authenticity and accuracy of the company’s financial accounting reports. The Committee also holds authority to propose the hiring or dismissal of accounting firms and the appointment or dismissal of the chief financial officer. It maintains close communication with internal audit functions, directing they submit annual and semi-annual work reports for review.

The Terms of Reference clarify the meeting procedures, stating that the Committee will convene at least once quarterly. Resolutions require approval by a majority of attending members, and those with conflicts of interest must excuse themselves. Detailed records of discussions and decisions are retained for 10 years, and the Committee’s annual performance is disclosed on the Shanghai Stock Exchange website alongside the annual report. These Terms of Reference take effect upon approval by the Board of Directors and the official listing of the overseas-issued shares on the Main Board of the Hong Kong Stock Exchange.