Red Arrow reappoints Tianjian for 2025 audits, updates governance documents

North Industries Group Red Arrow announced on November 19, 2025, the proposed re-appointment of Tianjian Certified Public Accountants (Special General Partnership) as its audit firm for the 2025 financial report and internal control. This decision was approved by the company's Eleventh Board of Directors and will be submitted for approval at the 2025 third extraordinary general meeting scheduled for December 4, 2025. The audit committee cited Tianjian’s professional competence, investor protection capabilities, and independence. The total audit fee for 2025 is estimated at 1.7 million yuan, including 1.2 million yuan for financial report and special assurance services, and 0.5 million yuan for internal control audit.

Tianjian, established on July 18, 2011, has 241 partners and 2,356 certified public accountants. For the fiscal year 2024, their total audited revenue was 2.969 bn yuan, with audit services revenue of 2.563 bn yuan and securities services revenue of 1.465 bn yuan. They served 756 listed companies. The audit partners for Red Arrow are Xue Zhijuan and Chen Shuojing, with Jin Wen as the quality review partner.

In conjunction with the audit firm re-appointment, the extraordinary general meeting will also review proposed revisions to Red Arrow's Independent Director Work System, Connected Transactions Decision-Making System, and Cumulative Voting Implementation System. These revisions, approved by the board, aim to enhance corporate governance and protect shareholder interests.