Audit Committee

The Audit Committee is composed of all independent directors and its aim is to assist the board of directors to improve corporate governance performance. Duties include internal control system revision, asset management, financial business decision supervision, derivative commodity transaction supervision, and evaluation of the effectiveness of the internal control systems. The audit committee holds regular meetings on a quarterly basis, and within its scope of authority may require relevant department managers, internal auditors, accountants, legal advisors, or other personnel to attend and provide relevant, necessary information. These may include matters involving the interests of the directors themselves, significant assets or commodity transactions, raising or issuing private placement of securities with equity nature, appointment, dismissal or remuneration of certified public accountants, financial, accounting or internal audit supervisors. Other major matters stipulated by the company or the competent authority such as annual financial reports and semi-annual financial reports may also be requested. Independent director Qiu, Shi-fang served as the convener of the second audit committee of the company.