Shenzhen Expressway Tightens Governance with New Audit Committee Rules

An announcement from Shenzhen Expressway Co ( (HK:0548) ) is now available.

Shenzhen Expressway Corporation Limited has formalized detailed working regulations for its Board’s Audit Committee to strengthen corporate governance and align with PRC company law, the Code of Corporate Governance for Listed Companies, its Articles of Association, and Hong Kong listing rules. The new framework defines the Audit Committee as a specialized body under the Board that assumes the powers of the Supervisory Board regarding communication with auditors, oversight of internal and external audits, review of financial reporting and disclosures, and supervision and evaluation of internal controls.

The regulations specify that the Audit Committee will comprise three to five members, with a majority being independent directors who are not part of senior management or executive leadership, and chaired by an independent director with accounting expertise meeting Chinese and Hong Kong regulatory standards. Members must understand the company’s business model, possess strong professional competence and ethics, and be able to devote sufficient time to ensure accurate and complete financial reporting, while a designated secretary and the audit department will support the committee’s information needs and coordination with the Board and other internal bodies.

The most recent analyst rating on (HK:0548) stock is a Hold with a HK$7.50 price target. To see the full list of analyst forecasts on Shenzhen Expressway Co stock, see the HK:0548 Stock Forecast page.

More about Shenzhen Expressway Co

Shenzhen Expressway Corporation Limited operates in China’s infrastructure and transportation sector, focusing on the investment, construction, and operation of expressways and related toll-road assets. The company is listed in Hong Kong and adheres to PRC company law and Hong Kong listing rules in its corporate governance framework.

Average Trading Volume: 1,362,786

Technical Sentiment Signal: Strong Buy

Current Market Cap: HK$24.04B

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