Zhongyuan Bank Tightens Audit Committee Rules to Bolster Governance and Oversight

Zhongyuan Bank Co., Ltd. Class H ( (HK:1216) ) just unveiled an update.

Zhongyuan Bank Co., Ltd. has formalised detailed Rules of Procedure for its Board Audit Committee to strengthen internal control, accounting oversight and corporate governance. The document sets out the Audit Committee’s role as a specialised body under the Board responsible for providing professional advice on operational and risk matters, regularly engaging with senior management, and monitoring regulatory and risk developments relevant to its remit. It also clarifies the committee’s composition and qualifications, requiring at least three non-executive directors, a majority of independent directors, and at least one member with accounting or financial management expertise that meets Hong Kong Listing Rules, while barring former partners of the bank’s external auditor from serving on the committee for a two-year cooling-off period. These measures are designed to reinforce independence, professionalism and compliance in the bank’s audit and risk oversight, thereby enhancing transparency and protection for shareholders and other stakeholders.

The most recent analyst rating on (HK:1216) stock is a Hold with a HK$0.32 price target. To see the full list of analyst forecasts on Zhongyuan Bank Co., Ltd. Class H stock, see the HK:1216 Stock Forecast page.

More about Zhongyuan Bank Co., Ltd. Class H

Zhongyuan Bank Co., Ltd. is a commercial bank operating under the regulatory framework of the People’s Republic of China and the Hong Kong Listing Rules. As a listed banking institution, it focuses on providing financial services while maintaining robust corporate governance, internal controls and risk management systems in line with domestic banking regulations and international capital market requirements.

Average Trading Volume: 1,491,663

Technical Sentiment Signal: Sell

Current Market Cap: HK$12.06B

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