Share’s code： 000550 Share’s Name： Jiangling Motors No.: 2024-011
200550 Jiangling B
Jiangling Motors Corporation, Ltd.
Public Announcement on Retaining of
External Auditor and C-Sox Auditor
Jiangling Motors Corporation, Ltd. and its Board members undertake that the
information disclosed herein is truthful, accurate and complete and does not
contain any false statement, misrepresentation or major omission.
Jiangling Motors Co., Ltd (hereinafter referred to as “JMC”) held the fourth session of
the Eleventh Board of Directors on March 26, 2024, and deliberated and passed the
Proposal on Retaining of External Auditor and C-SOX Auditor, intending to renew the
appointment of PricewaterhouseCoopers Zhong Tian LLP (hereinafter referred to as
“PwC ZT”) as the auditing agency for the financial statements and internal control over
financial reporting of the Company for the year 2025-2027.
I. Basic Information of the CPA Firm to be Re-appointed
1. Firm Information
i. Basic Information
PwC ZT was formerly known as PricewaterhouseCoopers Dahua Certified Public
Accountants established on March 28, 1993, and was renamed as PwC Zhongtian CPA
Firm Co., Ltd. in June 2000 upon approval; and was transformed to
PricewaterhouseCoopers Zhong Tian LLP on January 18, 2013 upon the approval by
Ministry of Finance via the document of C.K.H. [2012] No.52 dated December 24,
2012. The registered address is Room 01, Unit 507, DBS Bank Tower, 1318 Lu Jia Zui
Ring Road, Pudong New Area, Shanghai, China.
PwC ZT has a practicing certificate for CPA Firm and is qualified to engage in the
auditingofH-share companies,andis also aCPA Firm with qualifications forsecurities
and futures related businesses, which was originally approved by Ministry of Finance
and Securities Regulatory Commission. PwC ZT has rich practice experience and good
professional service capability in securities business. In addition, PwC ZT is a member
of the PricewaterhouseCoopers International Network and is registered with the US
PCAOB (Public Company Accounting Oversight Board of the United States) and UK
FRC (Financial Reporting Council of the United Kingdom) to engage in related
auditing business.
The Chief Partner of PwC ZT is Mr. Li Dan. As of December 31, 2023, PwC ZT had 291
partners, and more than 1,710 certified public accountants, among which there were
383certified publicaccountants whohavesignedtheaudit reports onsecuritiesservicessince 2013.
PwC ZT’s total audited income for the last fiscal year (FY2022) amounted to RMB
7.421 billion, with income of audit business amounting to RMB 6.854 billion and
income of securities business amounting to RMB 3.284 billion.
PwC ZT served 109 A-share listed companies for audit of financial statements in 2022,
which earned total audit fees of RMB 529 million. Major industries of the audited A-
share listed companies include manufacturing industry, financial industry,
transportation, warehousing and post services industry, information transmission,
software and information technology service industry, as well as wholesales and retail
trade, of which 56 A-shared listed companies engaged in the same industry
(manufacturing industry) as the Company were audited.
ii. Investor Protection Capability
In respect of investor protection capability, PwC ZT has taken out occupational
insurance in accordance with the requirements of relevant laws and regulations, and the
sum of the aggregate limit of indemnity of the occupational insurance and the
occupational risk fund exceeds RMB 200 million, and the accrual of the occupational
risk fund or the purchase of the occupational insurance is in compliance with the
relevant regulations. PwC ZT has not incurred any civil liability in relevant civil
litigation for its practice in the past three years.
iii. Integrity Record
PwC ZT and its practitioners have not been subjected to criminal or administrative
penalties, or self-regulatory measures or disciplinary actions by self-regulatory
organizations such as stock exchanges and industryassociations for their practice in the
past three years. In the past three years, PwC ZT was subject to one administrative
regulatory measure by a local securities regulatory bureau for its practice behavior,
involving two practitioners. According to relevant laws and regulations, the aforesaid
regulatory measure is not administrative penalty and will not affect PwC ZT’s
undertaking or execution of securities services and other business.
2. Engagement Information
i. Basic Information
Engagement Partner and Signing CPA: Ye Jun, a practicing member of The Chinese
Institute of Certified Public Accountants, obtaining the CPA qualification in 1997,
havingbeen engaged in auditingoflistedcompaniessince1995, havingbeenpracticing
with PwC ZT since 1995, having been providing auditing services for the Company
from 2012 to 2016 and since 2022, and having signed or reviewed t
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