Baobian electric proposes new auditor for 2025 financials

Baoding Tianwei Baobian Electric Company Limited will hold its fourth extraordinary general meeting of shareholders on December 18, 2025, to propose the appointment of Zhongxinghua Certified Public Accountants (Special General Partnership) as its auditor for the 2025 financial year. This decision follows a comprehensive review of the company's business development and audit requirements, aiming to ensure audit independence and objectivity. The proposed audit fee for 2025 totals 1.02 million yuan, with 835,000 yuan for the annual report audit and 185,000 yuan for the internal control audit, consistent with 2024 fees.

Zhongxinghua Certified Public Accountants, established in 1993, will replace Beijing Guofu Certified Public Accountants (Special General Partnership), which served for two years. Zhongxinghua reported total revenue of 2.03 billion yuan in 2024, with audit business revenue of 1.54 billion yuan and securities business revenue of 332.20 million yuan. The firm audited 169 listed companies in 2024 and has 104.5 million yuan in professional risk reserves, with cumulative professional liability insurance coverage of 100 million yuan.

The company has communicated with both the outgoing and proposed auditing firms, confirming their awareness and non-objection to the change. The new appointment ensures compliance with relevant regulations regarding auditor selection.