Audit Committee. The members of our audit committee are Professor Yuhong Li and Messrs. Huilin Wang and Jinbao Liu. Professor Li chairs the audit committee. Our audit committee assists our board of directors in its oversight of:
>> the integrity of our financial statements;
>> our independent auditors’ qualifications and independence; and
>> the performance of our independent auditors.

The audit committee has the sole and direct responsibility for appointing, evaluating and retaining our independent auditors and for overseeing their work. All audit services and all non-audit services, other than de minimis non-audit services, to be provided to us by our independent auditors must be approved in advance by our audit committee. We believe that the composition of our audit committee meets the requirements for independence under the current Nasdaq Capital Market and SEC rules and regulations. We believe that the functioning of our audit committee complies with the applicable requirements of the Nasdaq National Market and SEC rules and regulations. We intend to comply with future requirements as applicable.

Committee Charter

Compensation Committee. The members of our compensation committee are Messrs. Huilin Wang, Jianghua Feng and JInbao Liu. Mr. Liu chairs the compensation committee. The purpose of our compensation committee is to discharge the responsibilities of our board of directors relating to compensation of our executive officers. Specific responsibilities of our compensation committee include:
>> reviewing and recommending approval of compensation of our executive officers;
>> administering our stock incentive and employee stock purchase plans; and
>> reviewing and making recommendations to our board with respect to incentive compensation and equity plans.

Committee Charter

Nominating and Corporate Governance Committee. The members of our nominatingand corporate governance committee are Messrs, Jiang and Wang and Professor Li. Messrs. Jiang chairs the nominating and corporate governance committee. The purpose of the nominating and corporate governance committee is to:

>> Identify qualified individuals to become Board members;
>> Determine the composition of the Board and its committees;
>> Monitor a process to assess the effectiveness of the Board and Board committees; and
>> Ensure good corporate governance.

Committee Charter