Company: CAAS
Filing Date: 2025-07-01
Form Type: F-4
Source: 0001104659-25-064447
Chunk: 102

Company: China Automotive Systems, Inc.
Filing Date: 2025-07-01
Form: F-4
Chunk 102
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 qualification. A director who is in any way, whether directly or indirectly, interested in a contract or transaction
or proposed contract or transaction with CAAS Cayman is required to declare the nature of his or her interest at a board meeting. Subject
to Nasdaq listing rules and disqualification by the chairman of the relevant board meeting, a director may vote in respect of any
contract or transaction or proposed contract or transaction notwithstanding that such director may be interested therein, and if he or
she does so, such director’s vote shall be counted, and such director may be counted in the quorum at any meeting of directors at
which any such contract or transaction or proposed contract or transaction is considered.

The directors may at their discretion exercise
all the powers of CAAS Cayman to raise or borrow money, and to mortgage or charge its undertaking, property, and assets (present or future)
and uncalled capital or any part thereof, and to issue debentures, debenture stock, bonds, or other securities, whether outright or as
collateral security for any debt, liability, or obligation of CAAS Cayman or of any third party.

Board Committees

The CAAS Cayman board of directors will have an
audit committee, a compensation committee, and a nominating committee, and a charter will be adopted for each of the foregoing committees.
Each committee’s members and functions are described below:

Audit Committee

The audit committee will consist of Guangxun Xu
(chairman), Robert Wei Cheng Tung and Tao Liu. Guangxun Xu satisfies the criteria of an audit committee financial expert as set forth
under the applicable rules of the SEC. Each of audit committee members satisfies the requirements for an “independent director”
within the meaning of the Nasdaq listing rules and the criteria for independence set forth in Rule 10A-3 of the Exchange Act.

The audit committee will oversee CAAS Cayman’s
accounting and financial reporting processes. The audit committee will be responsible for, among other things:

| · | appointing the independent auditors and pre-approving all auditing and non-auditing                                     
 services permitted to be performed by the independent auditors;                                                         |
| · | reviewing with the independent auditors any audit problems or difficulties                                              
 and management’s response;                                                                                              |
| · | discussing the annual audited financial statements with management and the                                              
 independent auditors;                                                                                                   |
| · | reviewing the adequacy and effectiveness of CAAS Cayman’s accounting                                                    
 and