Anhui Expressway Company Limited (stock code: 995) has published newly revised Rules of Procedures of the Board of Directors. These rules outline the board’s structure, responsibilities, and internal governance framework, covering aspects such as director qualifications, appointment processes, independent director roles, and operating protocols.

According to the updated rules, the board comprises nine members, with at least one-third being independent directors. Clear provisions address the nomination process, rights, and fiduciary duties of directors. Stringent qualification standards are detailed, ensuring directors have professional expertise and maintain independence where required. The duties and operating scope of independent directors are also stipulated, emphasizing unbiased judgment and enhanced oversight in strategic and financial decisions.

The revised procedures specify the setup of specialized committees, including an audit committee, a strategic development and investment committee ("strategic committee"), and a human resources and remuneration committee. Each committee bears distinct responsibilities: the audit committee focuses on financial and compliance oversight, the strategic committee manages long-term planning and investment decisions, and the human resources committee handles recruitment policies and performance assessments. The secretary to the board ensures effective information disclosure and communication with regulators and investors.

The rules further clarify meeting protocols, quorum requirements, and voting provisions. Directors must avoid conflicts of interest and abstain from votes that involve connected transactions. Guidelines for convening ad hoc meetings, conducting teleconference sessions, and documenting decisions aim to streamline the board’s deliberation and strengthen accountability. The chairman is authorized to coordinate major decisions and is responsible for supervising execution of board resolutions, while the person in charge of finance (chief financial officer) manages financial oversight and budget proposals.

These updated procedures reflect Anhui Expressway Company Limited’s commitment to transparent and effective governance, posture the board to fulfill strategic objectives, and ensure compliance with relevant regulatory requirements.