CGN Power Co., Ltd. (Stock Code: 1816) released updated Terms of Reference for its Audit and Risk Management Committee, effective upon the approval by the Board of Directors on October 28, 2025. The newly issued document sets forth the composition, responsibilities, and operating rules of the Committee, clarifying key aspects of its oversight functions.

According to the document, the Committee will comprise three directors, with a majority being independent directors to ensure impartial oversight. Among its core responsibilities are the selection and evaluation of accounting firms, supervision of financial reporting, review of internal control systems, and monitoring of the internal audit department.

The Committee must regularly review the Company’s financial information and its disclosure, placing emphasis on accounting policies, auditing issues, and going-concern assumptions. Additionally, the Committee is charged with guiding and supervising internal audit work, ensuring effective implementation of internal controls, and addressing risk management matters.

The Terms of Reference also require the Committee to communicate regularly with the Board, senior management, and external auditors, reporting work progress and any major findings. The Company will cover the Committee’s expenses and provide necessary support for investigations or engagement of professional advisors when needed.

These updates reinforce auditing independence, help bolster the Company’s oversight mechanisms, and articulate the Committee’s objectives in accordance with relevant regulations and listing rules. The Terms of Reference become effective upon the specified date and will guide the Committee’s operations going forward.