The Board of Directors (the “Board”) of Fuxing China Group Limited (the “Company” and together with its subsidiaries, the “Group”) is committed to maintaining a high standard of corporate governance within the Group and places importance on its corporate governance and systems so as to enhance shareholders’ value, corporate performance, accountability and protection of stakeholders’ interests.
This report describes the corporate governance practices of the Group for the financial year ended 31 December 2024 (“FY2024”) with specific reference to the principles and provisions of the Code of Corporate Governance 2018 (the “Code”) and the accompanying practice guidance and accompanying Practice Guidance issued in August 2018, which forms part of the continuing obligations of the Listing Rules of the Singapore Exchange Securities Trading Limited (“SGX-ST”).
The Board is pleased to report that for FY2024, the Group has complied in all material aspects with the Code and Listing Rules. Where there are deviations from the Code, explanations as to how the Group’s practices were consistent with the intent of the principle in question are provided in this report. The Company did not adopt any alternative corporate governance policies in FY2024.
The Board will continue to review the corporate governance practices on an on-going basis for relevance and effectiveness with reference to the environment in which the Group operates.
