The Audit Committee of the Company was established with specific terms of reference. The Audit Committee comprises three members who are all the INEDs Mr. Ip Ka Keung (Chairman) (resigned on 3 January 2022), Dr. Lam King Hang (resigned on 31 May 2022) and Mr. Cheung Man Fu. The Audit Committee mainly responses to consider the appointment of the external auditors, the performance of the external auditors, the audit fee, and any questions of resignation or dismissal; review with the Group’s management, external auditor and internal auditor, the adequacy of the Group’s policies and procedures regarding internal controls (including financial, operational and compliance controls), risk management system and any statement by the Director to be included in the annual accounts prior to endorsement by the Board and etc.