SG Micro to appoint EY as new auditor for 2025

SG Micro Corporation announced its intention to appoint Ernst & Young Hua Ming LLP (EY) as its new auditor for the 2025 financial year, taking over from BDO China Shu Lun Pan Certified Public Accountants LLP (BDO). This change, driven by the company's development needs and overall audit requirements, will see EY responsible for SG Micro's 2025 financial and internal control audit work. Both the outgoing and incoming accounting firms have been consulted and have no objections to the proposed change. The company's board of directors and audit committee have approved the change, which awaits shareholder approval.

EY, established in 1992, reported a total business revenue of RMB 5.71 bn in 2024, with audit services contributing RMB 5.46 bn and securities-related services RMB 2.37 bn. They served 155 A-share listed companies for their 2024 annual report audits, with total fees amounting to RMB 1.19 bn. The proposed audit fee for SG Micro in 2025 is RMB 1.80 m, excluding travel and accommodation expenses. This includes RMB 1.32 m for financial report audits and RMB 0.48 m for internal control audits.

The project team for SG Micro will include Ms. Liu Xintian as project partner and certifying accountant, and Mr. Liu Taiping as quality control reviewer. Both have extensive experience in auditing listed companies. SG Micro has been audited by BDO for 15 consecutive years, with an unmodified opinion for the 2024 financial year.