"AAC Acoustic Holdings Inc." has changed to "AAC Technologies Holdings Inc."   

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Board Authorities and Delegations

The overall stewardship of the Company’s operations is vested in the Board. The Board’s responsibilities are to formulate, regulate and evaluate the strategic direction and risk appetite of the Company, management policies and the effectiveness with which management implements its policies. The Board has reviewed the day-to-day operating requirements of the Company and has preset designated financial limits for a schedule of matters delegated for management to operate and manage the business. Management is to submit business plans or investment proposals if they fall outside the designated limits. The Board also reviews and approves the annual operating and capital budgets, and when appropriate, incremental items/amounts outside the approved budgets will be raised to the Board for approval. Under the supervision of the CEO, management is responsible for the daily operations of the Group. The CEO and senior management report on business operations, financial results and strategic matters to the Board on a quarterly basis, and provide key updates on a monthly basis.