Tycoon Group has adopted the following measures to ensure that its corporate governance system remains effective and professional:
I. The directors and the senior management of the Group have been trained by legal consultants to acquire a detailed understanding of the responsibilities of directors and management of a listed company and relevant laws and regulations and the listing responsibilities;
II. In 2018, Tycoon invited independent internal control consultants and established sound internal control system and procedures, so as to control risks and evaluate whether the risk to review the overall adequacy of the risk management and internal control system:
- The Group will engage external legal consultants to seek legal advice from and to provide legal training to the directors, managers and relevant employees, in order to ensure smooth operation of the Group in relevant aspects;
- If necessary, the Group will engage external consultants and other professionals, to ensure strict compliance with the laws and regulations;
- The Group appointed Shenwan Hongyuan Capital (H.K.) Limited as its compliance adviser to ensure that the Group complies with the applicable Listing Rules;
- The Group appointed three independent non-executive directors in the board of directors of the Company (“Board of Directors”) to ensure the continuing effectiveness of the management of the Company;
- The Group established an audit committee, with the above three independent non-executive directors as its members, to regularly evaluate the effectiveness of the Group’s financial reporting procedures, internal control and risk management system and supervise the audit procedures.