Beijing Jingcheng Machinery Electric Clarifies Audit Committee Mandate to Bolster Corporate Governance

An announcement from Beijing Jingcheng Machinery Electric Co Ltd Class H ( (HK:0187) ) is now available.

Beijing Jingcheng Machinery Electric Company Limited has formalised and updated the terms of reference for its Board Audit Committee, setting out its mandate under PRC company law, corporate governance codes and the firm’s Articles of Association. The Audit Committee is positioned as a specialised governance body under the Board with defined authority over financial reporting review, supervision of internal and external audits, oversight of internal controls, and the exercise of certain functions traditionally associated with a supervisory board, supported operationally by a secretariat under the Audit Legal Department. The remit includes reviewing all major financial disclosures, monitoring changes in accounting policies, assessing key judgement areas and adjustments, evaluating going-concern assumptions, and managing the appointment, independence, remuneration and potential dismissal of external auditors, including policies on non-audit services. This codification strengthens the company’s internal oversight framework, aims to enhance decision-making quality and transparency at board level, and is likely to improve risk management and investor confidence through clearer accountability for financial reporting and internal control effectiveness.

The most recent analyst rating on (HK:0187) stock is a Hold with a HK$4.00 price target. To see the full list of analyst forecasts on Beijing Jingcheng Machinery Electric Co Ltd Class H stock, see the HK:0187 Stock Forecast page.

More about Beijing Jingcheng Machinery Electric Co Ltd Class H

Beijing Jingcheng Machinery Electric Company Limited is a Chinese joint stock company listed in Hong Kong, operating in the machinery and electrical equipment sector. The company focuses on industrial machinery and related electromechanical products, serving clients in the broader manufacturing and engineering markets in the People’s Republic of China and abroad.

Average Trading Volume: 3,589,850

Technical Sentiment Signal: Buy

Current Market Cap: HK$6.59B

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