Soho Holly Futures Co., Ltd. issued newly updated Terms of Reference for its Audit Committee, focusing on clarifying the committee’s composition, duties, and internal procedures. These guidelines were structured in accordance with the Company Law of the People’s Republic of China, relevant Hong Kong Listing Rules, and the company’s Articles of Association.

Key highlights include the committee’s requirement to consist solely of non-executive directors, with a majority being independent. At least one member must possess professional qualifications or expertise in accounting or financial management. The committee is tasked with supervising external and internal audit work, evaluating the auditors’ independence and performance, reviewing financial statements, and overseeing internal controls and risk management systems.

The newly outlined framework also details meeting protocols, including frequency of sessions, quorum requirements, and procedures for convening. It underscores the obligation of committee members to carry out thorough reviews of financial disclosures, coordinate with external auditors, and ensure that timely and objective responses are provided when issues arise. The Terms of Reference officially take effect upon approval by the Board of Directors on 28 October 2025.