Stock Code: 000553(200553) Stock Abbreviation: ADAMA A(B) Announcement No.2024-6
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. Explanation on 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 2024 financial statements and the annual internal control.
As an accounting firm with qualifications in securities and futures related businesses,
Deloitte Huayong is professionally competent and has warranted and represented that
while rendering the Company auditing services, Deloitte Huayong is, and shall remain
at all time during the financial year sufficiently independent, according to all rules and
regulations. While protecting investors, the Auditor has been committed 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 2023, Deloitte
Huayong charged 3.15 million RMB for auditing services of the financial statements
and internal control of the Company. The Company’s Auditor’s budget for 2024 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. Introduction of the Proposed Auditor
Deloitte Huayong presented the following information to the Company.
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 Finance 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 Ministryof Finance to render
auditing services. It is also permitted by both the Ministry of 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 in accordance with the relevant documents
such as the "Administrative Measures for the Recordation of Securities Service
Business by Accounting Firms" issued by the Ministry of Finance 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 2023,
Deloitte Huayong had 213 partners, 5,774 employees and 1,182 CPAs , of which more
than 270 CPAs have signed audit report on securities services business.
Deloitte Huayong had a revenue of 4.2 billion RMB yuan for 2022, of which 3.2 billion
RMB were generated byauditing and 800 million RMB bysecurities business. Deloitte
Huayong provides audit services on the 2022 annual reports for 60 listed companies,
with a total audit service fee of 275 million RMB. The main industries of the listed
companies that the Deloitte Huayongprovides services are manufacturing, finance, real
estate, transportation, storage and postal, telecommunication, software and information
technology industries. Among the listed companies Deloitte Huayong provides audit
services, there are 24 listed companies in the same industry as the Company.
1.2 Investor Protection
The cumulative compensation limit of occupational insurance purchased by Deloitte
Huayong exceeds 200 million RMB, which is in compliance with relevant regulations.
In thepast three years, DeloitteHuayonghas not been assumed civil liabilityin relevant
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 been subject to any criminal penalty for their professional conduct, as
well as self-regulatory measure or disciplinary punishment by self-regulatory
organizations such as stock exchanges and industry associations in the past three years.
Deloitte Huayong has received administrative penalty once and administrative
regulatory measures twice. Fourteen employees were given administrative penalties
once each, four employees were given administrative regulatory measures once each
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