Stock Code: 000553(200553) Stock Abbreviation: ADAMA A(B) Announcement No.2021-5
ADAMALtd.
Announcement on the Engagement of an
Accounting Firm
The Company and all members of its board of directors hereby confirm that all
information disclosed herein is true, accurate and complete with no false or
misleading statement or material omission.
I. Explanationon the Proposed Appointment of the Company’s Auditor
ADAMA Ltd. (hereinafter referred to as: the “Company”) intends to renew the
appointment of Deloitte Touche Tohmatsu Certified Public Accountants LLP
(hereinafter referred to as: “Deloitte Huayong” or the “Auditor”) as the Company’s
Auditor for its 2021 financial statements and the annual internal control.
As an acco unti ng firm with qualifications in securities and futures related businesses,
Deloitte Huayong is professionally competent and has warranted and represented that
while rendering the Company a uditi ngservices, Deloitte Huayong is, and shall remai n
at all time during the fi na ncial year sufficientlyindependent, accordingto all rules and
regulations. While protecting investors, the Auditor has been co mmi tted to its duties
and provided audit services to the Company. By following the code of practice of
independence, objectiveness and fairness, it has accomplished the relevant work
entrusted by the Company. Therefore, the Company decides to renew the engagement
of the Auditor, among others, to ensure the auditing consistency. In 2020, Deloitte
charged 2.76 million RMB yuan for auditi ng services of the financial statements and
internal control of the Company. The Company’s Auditor’s budget for 2021 will be
submitted to the shareholders’ meeting, in order to authorize the board of directors to
decide, based on the consultation with the firm.
II. Introductionof the Proposed Auditor
1.Institution Information
1.1Basic Information
Deloitte Huayong was established in February 1993 and known as Hujiang Deloitte
Accounting Limited. It was renamed Deloitte Huayong in September 2012 and was
approved by the Ministry of Fi na nce and other authorities to convert its business
property into a limited liability partnership. It is registered on the 30th Floor, No. 222
East Yan’an Road, Huangpu District, Shanghai.
Deloitte Huayong has the required approval issued bythe MinistryofFinance to render
auditing services. It is also permitted byboth the Ministryof Finance and the CSRC to
engage in the auditing of H-share enterprises. Deloitte Huayong has put on record for
the securities and futures related businesses inaccordance withthe relevant documents
such as the "Ad mi nistrative Measures for the Recordation of Securities Service
Business by Accounting Firms" issued by the Mi nistry of Fi na nce and the CSRC. As
such, the Auditor has accumulated extensive experience in securities services for the
past two decades.
The chief partner of Deloitte Huayong is Mr. Fu Jian Chao. As of the end of 2020,
Deloitte Huayong had 205 partners, 6,445 employees and 1,239 CPAs , of w hich more
than 240 CPAs have signed audit report onsecurities services business.
Deloitte Huayong had a revenue of4.1 billionRMB yuanfor 2019,ofw hich3.1 billion
RMB yuan were generated by a uditi ng and 677 million RMB yuan by securities
business. Deloitte Huayong provides audit services on the 2019 annual reports for 57
listed companies, with a total audit service fee of 249 million RMB yuan. The main
industries of the listed companies that the Deloitte Huayong provides services are
manufacturing industry, finance industry, real estate industry, transportation, storage
and postal industry, and mining industry. Among the listed companies Deloitte
Huayong provides audit services, there are 18 listed companies inthe same industryas
the Company.
1.2 Investor Protection
The cumulative compensation limit of occupational insurance purchased by Deloitte
Huayong exceeds 200 million RMB, whichis incompliance withrelevant regulations.
In the past three years, it has not assumed civil liabilityinrelevant civil lawsuits due to
practice behaviors.
1.3 Integrity Record
As presented to the Company by the Auditor, neither Deloitte Huayong nor any of its
employees, has not been subject to crimi nal penalties, admi nistrative penalties,
administrative supervision measures or any punishment due to the violation of
self-discipline requirements published by the authorities inthe past three years.
2. Engagement Information
2.1 Basic Information
Mr. Mou Zheng Fei, the engagement partner, joined Deloitte Huayongin 1998. He has
been engaged in a uditi ng and professional services related to the capital market for a
long time. In 2000, he registered as Certified Public Account. Now, He is currently a
practicing member of t
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