Shanxi Taigang Stainless Steel changes auditor, delays board re-election

Shanxi Taigang Stainless Steel (SZSE:000825) announced its decision to change its accounting firm for the 2025 financial year, appointing Deloitte Touche Tohmatsu Certified Public Accountants for its financial report and internal control audit services. This change, approved by the audit committee and board of directors, follows the previous firm, Ernst & Young Hua Ming LLP, having provided audit services for several consecutive years, aligning with regulatory requirements for auditor independence. The audit fee is proposed at CNY 1.995 million, with CNY 1.6625 million for financial report auditing and CNY 332,500 for internal control auditing.

In a related announcement, Shanxi Taigang Stainless Steel stated that the term for its ninth board of directors, supervisory board, and senior management is set to expire on October 18, 2025. The company will delay the re-election process as it prepares for supervisory board reform and intends to abolish the supervisory board, with its functions to be performed by the board's audit committee.

The company will expedite the board re-election and supervisory board reform initiatives. In the interim, the current board of directors, supervisory board, and senior management will continue to fulfill their responsibilities, ensuring normal operations during this transition.