---
title: "Shougang Fushan Tightens Audit Committee Mandate to Bolster Governance"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/280642694.md"
description: "Shougang Fushan Resources Group Limited has formalized its audit committee's terms of reference to enhance corporate governance. The committee will consist mainly of independent non-executive directors, chaired by an independent director, and will meet at least twice a year. It is responsible for recommending the appointment and remuneration of external auditors and ensuring audit independence. Recent restrictions prevent former partners of the external auditor from serving on the committee for two years. The latest analyst rating for the stock (HK:0639) is a Buy with a price target of HK$3.50."
datetime: "2026-03-26T13:41:42.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/280642694.md)
  - [en](https://longbridge.com/en/news/280642694.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/280642694.md)
---

# Shougang Fushan Tightens Audit Committee Mandate to Bolster Governance

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Shougang Fushan Resources Group Limited ( (HK:0639) ) has shared an announcement.

Shougang Fushan Resources Group Limited has formalised detailed terms of reference for its audit committee, defining its constitution, membership requirements, and operating procedures to strengthen corporate governance. The committee must be composed mainly of independent non-executive directors, be chaired by an independent director, meet at least twice a year, maintain a quorum of two members, and may seek information from employees and external professional advice as needed.

The framework also restricts recent partners of the company’s external auditor from serving on the committee for two years, and sets clear rules on written resolutions, alternates, and participation by phone to ensure effective oversight. The audit committee is specifically tasked with recommending the appointment, reappointment, remuneration and removal of the external auditor, and handling issues related to auditor resignation or dismissal, underscoring its central role in safeguarding audit independence and the integrity of the company’s financial reporting.

The most recent analyst rating on (HK:0639) stock is a Buy with a HK$3.50 price target. To see the full list of analyst forecasts on Shougang Fushan Resources Group Limited stock, see the HK:0639 Stock Forecast page.

**More about Shougang Fushan Resources Group Limited**

Shougang Fushan Resources Group Limited operates in the resources sector and is governed by a board comprising executive and non-executive directors. The company follows Hong Kong corporate governance norms, using board committees such as the audit committee to oversee financial reporting, internal controls and auditor relationships on behalf of shareholders.

**Average Trading Volume:** 10,658,146

**Technical Sentiment Signal:** Buy

**Current Market Cap:** HK$16.7B

Find detailed analytics on 0639 stock on TipRanks’ Stock Analysis page.

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