Core Viewpoint - The article discusses the significant increase in the number of listed companies in Shenzhen changing their auditing firms, primarily due to regulatory penalties affecting several major accounting firms [2][10]. Group 1: Audit Firm Changes - In 2024, 103 listed companies in Shenzhen changed their auditing firms, surpassing the total of 98 changes in 2022 and 2023 combined [3][10]. - The proportion of companies changing auditors has increased significantly, with 35, 63, and 103 companies changing firms in 2022, 2023, and 2024 respectively [10]. Group 2: Impact on Major Accounting Firms - Major firms such as Daxin, PwC, and Tianzhi International experienced a drastic reduction in the number of projects they undertook, with Daxin's projects dropping from 49 to 6 (a decrease of 87.76%), PwC's from 12 to 3 (a decrease of 75%), and Tianzhi's from 22 to 10 (a decrease of 54.55%) [4][10]. - The article highlights that the loss of clients for these firms is attributed to regulatory penalties and the resulting loss of qualifications [9]. Group 3: Audit Reports and Fees - As of April 30, 2025, all 423 listed companies in Shenzhen submitted their 2024 annual reports and audit reports on time, with 407 receiving standard unqualified audit opinions [5]. - The total audit fees for the 414 companies that disclosed their fees amounted to 862 million yuan, with an average fee of 2.0376 million yuan, reflecting a slight increase from the previous year's average of 2.0116 million yuan [6][7]. - Among the listed companies, 189 experienced an increase in audit fees, with the highest increase reaching 172.73%, while 94 companies saw a decrease, with the largest drop being 57.14% [7]. Group 4: Long-term Auditor Relationships - There are 57 listed companies in Shenzhen that have retained the same auditing firm for over 10 years, accounting for 13.48% of the total [11]. - One company has maintained the same auditor for 24 years and has announced plans to change its auditing firm [11].