Item 1B. Unresolved Staff Comments
ITEM 1B. UNRESOLVED STAFF COMMENTS
Not applicable.
ITEM 1C. CYBERSECURITY
Risk management and strategy
We recognize
the critical importance of developing, implementing, and maintaining robust cybersecurity measures to safeguard our information systems
and protect the confidentiality, integrity, and availability of our data.
Managing Material Risks
& Integrated Overall Risk Management
We have
strategically integrated cybersecurity risk management into our broader risk management framework to promote a company-wide culture of
cybersecurity risk management. This integration ensures that cybersecurity considerations are an integral part of our decision-making
processes at every level. Our management team continuously evaluates and addresses cybersecurity risks in alignment with our business
objectives and operational needs.
Oversee Third-Party Risk
Because
we are aware of the risks associated with third-party service providers, we have implemented stringent processes to oversee and manage
these risks . We conduct thorough security assessments of all third-party providers before engagement and maintain ongoing monitoring to
ensure compliance with our cybersecurity standards. The monitoring includes annual assessments of the system and organization controls
(SOC) reports of our providers and implementing complementary controls. This approach is designed to mitigate risks related to data breaches
or other security incidents originating from third parties.
Risks from Cybersecurity Threats
We have not encountered cybersecurity
challenges that have materially impaired our operations or financial standing during the financial year ended December 31, 2025. We will
continue to monitor and assess our cybersecurity risk management program as well as invest in and seek to improve such systems and processes
as appropriate. If we were to experience a material cybersecurity incident in the future, such an incident may have a material effect,
including on our operations, business strategy, operating results, or financial condition. For more information regarding cybersecurity
risks that we face and potential impacts on our business related thereto, see the section titled “ Risk Factors ” in
Part I, Item 1A of this Annual Report on Form 10-K.
Governance
Our board of directors is responsible
for monitoring and assessing strategic risk exposure. Our board of directors administers its cybersecurity risk oversight function directly
as a whole, as well as through the Audit Committee. Our executive management team informs our Audit Committee on cybersecurity risks on
a regular basis, at least once per year.
The Audit Committee is primarily
responsible for assisting our board of directors in fulfilling its ultimate oversight responsibilities relating to risk assessment and
management, including relating to cybersecurity and other information technology risks. The Audit Committee oversees management’s
implementation of our cybersecurity risk management program, including processes and policies for determining risk tolerance, and reviews
management’s strategies for adequately mitigating and managing identified risks, including risks relating to cybersecurity threats.
Our cybersecurity coordinator
is responsible for assessing and managing our material risks from cybersecurity threats, in close collaboration with our IT team and reports
to our CEO. This ensures that the senior management are kept abreast of the cybersecurity posture and potential risks faced by our group.
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