SANY HEAVY INDUSTRY CO., LTD. released a detailed document outlining the newly established Nomination Committee of the Board of Directors and its Terms of Reference. The document clarifies that the committee’s primary responsibility is to oversee the nomination of directors and senior management members, including determining selection criteria and procedures.

The Terms of Reference specify that the Nomination Committee must comprise at least three directors, with a majority being independent non-executive directors and at least one member of a different gender. It is required to formulate recommendations on candidate appointments or dismissals, uphold board diversity requirements, and review the qualifications of potential nominees based on relevant criteria.

The committee is also granted the authority to request company data, engage professional advice if needed, and submit its conclusions and proposals to the Board of Directors for final review. The document states these guidelines will come into effect upon the listing of the company’s H shares on The Stock Exchange of Hong Kong Limited, ensuring that processes for nominating directors and senior management remain transparent and regulated.