The Risk Management Committee is supervised by the Board of Directors and the Audit Committee, and risk management is carried out through the Risk Management Committee (RMC). The Risk Management Committee, chaired by the president, the Head of the Environmental Safety and Risk Management Division as the Executive Secretary, and the heads of the Company‘s first-level department as members, holds RMC meetings every six months to discuss the Company’s major risks and risk control matters. RMC be proactive risk management mechanism that facilitates related units to promptly address risk events through a set of risk management procedures to lower or avoid the impact of risk in order to ensure the company’s sustainable operations.
MetaAge summarizes the risk categories into eight aspects: sales risk, product and technical service risk, financial risk, information security risk, compliance risk, human resources risk, climate risk and supply chain risk, covering a total of 32 potential risks under each category of risk, assessing the risk degree with risk measurement indicators for each category. MetaAge regularly reviewing the risk management mechanism, and establishing response strategies and risk control measures. Additionally, MetaAge‘s Risk Management Committee reports annually to the Board of Directors on its operations and the business implications of identified risks.
Through the risk management process, we identify and assess all inherent risks and develop corresponding countermeasures and management measures to lower or avoid any potential impact caused by risk events.
The company formally established the Risk Management Committee on August 5, 2011, and held its first risk management initiation meeting on November 29 of the same year. Annually, in the first quarter, the company reports to the board of directors on the operations and business content related to the Risk Management Committee, including risk categories, potential risks, impacts on corporate profits and losses, risk tolerance, response strategies, and the status of risk control measures taken. The 2023 risk management operations were approved by the board of directors on February 29, 2024.
The 2023 risk management operations were as follows:
The Risk Management Committee of MetaAge compiles risk checkup items sorted out by respective units after discussions, including risk category, potential risks, impacts on corporate gains and losses, and response strategies as well as risk control measures adopted.