Company: HMDCF
Filing Date: 2025-03-19
Form Type: 20-F
Source: 0001410578-25-000377
Chunk: 327

Company: HUTCHMED (China) Ltd
Filing Date: 2025-03-19
Form: 20-F
Item: Item 1
Chunk 327
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 of the Exchange Act, relating to audit committee composition and responsibilities. Rule 10A-3 provides that the audit committee must have direct responsibility for the nomination, compensation and choice of our auditor, as well as control over the performance of their duties, management of complaints made, and selection of consultants. Under Rule 10A-3, if the governing law or documents of a listed issuer require that any such matter be approved by the board of directors or the shareholders of the company, the audit committee’s responsibilities or powers with respect to such matter may instead be advisory. Our Articles of Association provide that the appointment of our auditor must be decided by our shareholders at our annual general meeting or at a subsequent extraordinary general meeting in each year.

The audit committee formally meets at least twice a year and otherwise as required. The audit committee’s purpose is to oversee our accounting and financial reporting process and the audit of our financial statements. Our audit committee’s primary duties and responsibilities are to:

  monitor the integrity of our financial statements, our annual and half-year reports and accounts and our announcements of interim or final results;  

  provide advice, where requested by the board of directors, on whether the annual report and accounts, taken as a whole, are fair, balanced and understandable, and provide the information necess...  

  review significant financial reporting issues and the judgments which they contain;  

  review, whenever practicable without being inconsistent with any requirement for prompt reporting under applicable listing rules, other statements containing financial information such as signi...  

  review and challenge where necessary:  

  the consistency of, and any changes to, accounting policies both on a year-on-year basis and across our company;  
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  the methods used to account for significant or unusual transactions where different approaches are possible;  

  whether our company has followed appropriate accounting standards and made appropriate estimates and judgments, taking into account the views of the external auditor;  

  the clarity of the disclosure in our financial reports and the context in which statements are made; and  

  all material information presented with the financial statements, such as any operations and financial review and any corporate governance statements (insofar as it relates to the audit and ris...  

In relation to our internal controls and risk management systems, our audit committee, among other things:

  reviews the effectiveness of our internal control and risk management systems;  

  reviews the policies and procedures for the identification, assessment and reporting of financial and non-financial risks