Wushang Group plans to renew its appointment of Daxin Certified Public Accountants as the audit firm for 2026. The audit fee is 1.5 million yuan, unchanged from the previous year.

Wushang Group Co., Ltd. (Stock Code: 000501, Stock Abbreviation: Wushang Group) held the 21st meeting of the 10th Board of Directors on March 26, 2026, during which it approved the proposal to reappoint Daxin Certified Public Accountants (Special General Partnership). The company plans to reappoint Daxin CPA (hereinafter referred to as “Daxin”) as the auditor for financial, internal control, and information system audits for 2026. The relevant proposal is still subject to review and approval by the company’s 2025 Annual Shareholders’ Meeting.

The announcement shows that this reappointment complies with the “Measures for the Management of the Selection and Appointment of Accounting Firms by State-Owned Enterprises and Listed Companies” (CaiKuai [2023] No. 4) issued by the Ministry of Finance, the State-owned Assets Supervision and Administration Commission of the State Council, and the China Securities Regulatory Commission. The company’s board of directors and audit committee have no objections to the proposed reappointment of the accounting firm.

Daxin CPA was established in 1985 and transformed into a special general partnership in 2012. Its headquarters is in Beijing, with 33 branches nationwide, and it has network member firms in Hong Kong and 48 other countries and regions. As of December 31, 2025, Daxin employed a total of 3,914 staff, including 1,053 registered accountants, with over 500 having signed securities service audit reports. In 2024, Daxin’s business revenue was 1.575 billion yuan, including 1.378 billion yuan from audit services, 405 million yuan from securities business, and it served 221 listed company clients (including H-shares).

Regarding project information, the signing partner responsible for Wushang Group’s audit is Xiang Hui, with Zhang Wenjuan as the signing CPA, and Liu Ranyong as the project quality reviewer. All three have provided audit services to the company over the past three years. Notably, Zhang Wenjuan, the signing CPA, was issued a warning letter by the Shanghai Office of the China Securities Regulatory Commission on December 29, 2023, for insufficient execution of certain procedures during the 2022 financial statement audit of Huachangda Intelligent Equipment Group Co., Ltd. The announcement emphasizes that the above personnel do not violate independence requirements.

Regarding audit fees, the proposed fee for 2026 is 1.03 million yuan (including tax) for financial audits, 390,000 yuan (including tax) for internal control audits, and 80,000 yuan (including tax) for IT audits, totaling 1.5 million yuan, consistent with the 2025 fee standards. The pricing is mainly determined based on the scope of work.

In terms of procedures, the company’s audit committee has thoroughly reviewed Daxin’s professional competence, investor protection ability, integrity record, and independence, and agrees to the reappointment, submitting it for board approval. The board approved the proposal with 10 votes in favor, 0 against, and 0 abstentions. This reappointment will take effect from the date the 2025 Annual Shareholders’ Meeting approves it.

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Editor: Xiao Lang Kuai Bao