Lianhua Supermarket Strengthens Governance With New Audit Committee Mandate

Claim 50% Off TipRanks Premium and Invest with Confidence Unlock hedge-fund level data and powerful investing tools designed to help you make smarter, sharper decisions Stay ahead of the market with the latest news and analysis so your portfolio is always positioned for maximum potentialLianhua Supermarket Holdings Co ( (HK:0980) ) has issued an announcement. Lianhua Supermarket Holdings Co., Ltd. has established an Audit Committee under its board of directors and adopted detailed terms of reference aimed at strengthening its corporate governance framework in line with PRC Company Law, Hong Kong Listing Rules and its Articles of Association. The committee, composed solely of non-executive directors with a majority of independent members and at least one director with accounting or financial management expertise, will oversee the company’s financial reporting system, internal control principles and relationship with external auditors, and will exercise the powers typically held by a supervisory committee under Chinese law. The new terms also formalise rules on membership, tenure, leadership by an independent accounting professional, restrictions on recent audit firm partners, and empower the committee to investigate group activities, obtain independent professional advice and report suspected fraud, internal control failures or legal infringements directly to the board, signalling a tighter control environment and enhanced protection for shareholders and other stakeholders. The most recent analyst rating on (HK:0980) stock is a Hold with a HK$0.50 price target. To see the full list of analyst forecasts on Lianhua Supermarket Holdings Co stock, see the HK:0980 Stock Forecast page. More about Lianhua Supermarket Holdings Co Lianhua Supermarket Holdings Co., Ltd. operates in the retail sector, running supermarket and related consumer-goods formats in mainland China. As a Hong Kong-listed company, it is subject to the corporate governance and disclosure requirements of the Hong Kong Stock Exchange, including maintaining robust financial reporting, internal controls and board oversight structures that are closely scrutinised by investors and regulators. Average Trading Volume: 192,834 Technical Sentiment Signal: Strong Sell Current Market Cap: HK$532.7M Find detailed analytics on 0980 stock on TipRanks’ Stock Analysis page.