Risk Management 

On June 22, 2021, the Company established the "Risk Management Policy and Procedures", which was approved by the Board of Directors as the Company's highest guiding principle for risk management. The Board of Directors plays a key role in helping the Company identify and manage economic risks. The risk management organization periodically briefs the Board of Directors on the ever-changing risk environment facing VisEra, the key points of the Company's enterprise risk management, and risk assessment and mitigation efforts. 

VisEra commit to proactively and cost effectively integrating and managing strategic, operational, financial and hazardous risks that represent potential negative consequences to operations and financial results. VisEra operates an enterprise risk management (ERM) program based on both its corporate vision and its long-term, sustainable responsibility to both industry and society. ERM seeks to provide the appropriate management of risks on behalf of all stakeholders. The Company maintains a risk map that assesses likelihood and impact severity of risk events on the Company’s operation, and is used to identify and prioritize risk controls and implement various controls and treatment strategies in response to risks as they are identified.

Scope of Risk Management

The Implementation

The Company actively promotes the implementation of the risk management mechanism and holds regular meetings of the risk management group and reports its operation to the Board of Directors once a year. In the third quarter of 2023, the risk management organization briefed to the Board of Directors.