Beijing Urban Construction Design & Development Group Co., Limited announced the establishment of an Audit and Risk Committee under its board of directors. The move aims to reinforce the board’s decision-making capabilities, enhance internal control, supervise senior management effectively, and optimize the company’s governance structure.

The committee will serve as a specialized working organ responsible for communicating with external auditors, overseeing external audits, and managing internal audit functions. Its role also encompasses evaluating the robustness of risk management and internal control systems, providing risk analysis on significant investments, and ensuring that the company’s processes meet relevant regulatory requirements. The members of this committee must be non-executive directors, with a majority comprising independent non-executive directors, and at least one individual possessing relevant accounting or financial expertise in accordance with Hong Kong Listing Rules.

According to the published terms, the Audit and Risk Committee is entrusted with scrutinizing the company’s financial affairs, supervising material decisions, reviewing organizational risk management measures, and making recommendations on the appointment or removal of external auditors. The terms also outline clear procedures for holding regular and extraordinary meetings, ensuring that committee discussions remain thorough and transparent. Any resolutions adopted by this committee will be submitted to the board of directors for final review and decision.