Group 1 - China International Capital Corporation (CICC) acts as the sponsor for HANSAN (Nanjing) Technology Co., Ltd.'s initial public offering (IPO) on the ChiNext board, committing to compensate investors for losses due to false statements or omissions in the documents it produces [1] - Beijing Junhe Law Firm serves as the special legal advisor for the issuer's IPO, promising to compensate investors for losses caused by false statements or omissions in the documents it issues, while accepting supervision from regulatory bodies and the public [2] - The auditing firm for HANSAN (Nanjing) Technology Co., Ltd. commits to compensate investors for losses resulting from false statements or omissions in the audit reports and related documents it produces for the IPO [3] Group 2 - The verification and review institution for HANSAN (Nanjing) Technology Co., Ltd. also commits to compensate investors for losses due to false statements or omissions in the verification reports and related documents it issues for the IPO [6] - Kun Yuan Asset Appraisal Co., Ltd. acts as the appraisal agency for the issuer's IPO, promising to compensate investors for losses resulting from false statements or omissions in the asset appraisal report it produces, contingent upon a judicial ruling [8]

Core Viewpoint - Shenzhen Meizhi Decoration Design Engineering Co., Ltd. plans to reappoint Zhongshun Yatai Accounting Firm as the auditor for the 2025 financial report and internal control audit, following the relevant regulations set by the Ministry of Finance, State-owned Assets Supervision and Administration Commission, and the China Securities Regulatory Commission [1][5]. Group 1: Appointment Details - The board of directors and the supervisory board approved the proposal to reappoint Zhongshun Yatai Accounting Firm during meetings held on July 15, 2025 [1]. - The proposed audit fee for 2025 is 1.4 million yuan, which includes 1 million yuan for the annual financial audit and 400,000 yuan for the internal control audit [5]. Group 2: Zhongshun Yatai Accounting Firm Information - Zhongshun Yatai Accounting Firm was established on January 18, 2013, and has 93 partners and 482 registered accountants as of the end of the last fiscal year [1][2]. - The firm reported total audited revenue of 703.98 million yuan, with audit service revenue of 682.03 million yuan and securities service revenue of 301.09 million yuan in the last year [1][2]. - The firm has served 40 listed companies and 183 companies on the New Third Board for annual report audits in the previous year [1]. Group 3: Professional Competence and Compliance - The project partners and quality control reviewers at Zhongshun Yatai possess the necessary professional competence, with no criminal penalties and only minor administrative penalties in the last three years [2][3][4]. - The firm has a professional risk fund of 85.11 million yuan and a cumulative liability limit of 400 million yuan for professional liability insurance [2][3]. - There are no violations of the independence requirements as per the Code of Ethics for Certified Public Accountants [5].

Core Viewpoint - The implementation of the "Independence Standards for Certified Public Accountants" marks a new phase in the institutional regulation of independence in China's CPA industry, emphasizing the importance of independence in audit practices [1][2]. Group 1: Regulatory Changes - The new independence standards are designed to address issues identified in industry regulation, including prohibiting CPA firms from preparing financial statements for audit clients, thereby eliminating conflicts of interest [2]. - The standards incorporate both domestic practices and international guidelines, with some provisions being stricter than international norms, reflecting China's commitment to combat financial fraud in capital markets [1][2]. Group 2: Impact on the Industry - The reform aims to transform the CPA industry towards greater professionalism and standardization, establishing independence as a non-negotiable baseline for the industry [2]. - By converting the subjective notion of "substantive independence" into quantifiable compliance standards, the new regulations are expected to enhance the credibility of audits and optimize the market ecosystem [2].

Core Viewpoint - The implementation of the "Independence Standards for Certified Public Accountants No. 1" marks a new phase in the institutionalization of independence regulation in China's CPA industry, addressing the critical issue of auditor independence which has been a significant factor in audit failures [1][2] Group 1: Regulatory Changes - The new independence standards are designed to integrate with existing laws and regulations while reflecting China's unique characteristics [1] - The standards combine advanced international guidelines with domestic practices, with some provisions being stricter than international norms, demonstrating China's commitment to combatting financial fraud in capital markets [1] Group 2: Specific Provisions - The standards include explicit prohibitions against accounting firms preparing financial statements or notes for audit clients, effectively severing the conflict of interest [2] - There is a strict ban on providing audit services on a contingent fee basis, which aims to eliminate potential compromises to independence from an economic perspective [2] Group 3: Industry Impact - The reform is expected to drive the CPA industry towards greater professionalism and standardization, with independence becoming a non-negotiable industry baseline [2] - This transformation is seen as a necessary response to industry pain points, aimed at restoring audit credibility and optimizing the market ecosystem [2]

Core Viewpoint - The audit committee of Shanghai Jinlitai Chemical Co., Ltd. has conducted an evaluation of the performance of the accounting firm for the year 2024, highlighting the appointment of Zhongxinghua Accounting Firm and the audit results, including the issuance of an audit report with a disclaimer of opinion on the financial statements and a negative opinion on internal controls [1][3]. Group 1: Basic Information of the Accounting Firm - Zhongxinghua Accounting Firm, established in 1993, is headquartered in Beijing and has 199 partners and 1,052 registered accountants as of December 31, 2024 [1]. - The firm had 522 registered accountants who signed audit reports for securities services in 2024 [1]. Group 2: Appointment Process of the Accounting Firm - The company held a series of meetings in December 2024, including the eighth board meeting and the first temporary shareholders' meeting, to approve the appointment of Zhongxinghua Accounting Firm for the 2024 financial report and internal control audit [2]. - The audit committee unanimously agreed to submit the proposal for the appointment to the board, with independent directors expressing their consent [2]. Group 3: Audit Performance of the Accounting Firm - Zhongxinghua conducted the audit in accordance with the auditing standards and communicated with the company's management regarding various aspects of the audit, including independence, audit team composition, risk assessment, and internal control [2]. - The firm issued a disclaimer of opinion on the financial statements and a negative opinion on the internal controls, along with special reports on non-operating fund occupation and related party transactions [3]. Group 4: Supervision by the Audit Committee - The audit committee reviewed the qualifications and professional capabilities of Zhongxinghua, concluding that the firm met the requirements for the annual audit and that the reasons for changing the accounting firm were appropriate [3]. - The committee emphasized the importance of timely and accurate reporting by the accounting firm and maintained effective communication throughout the audit process [5]. Group 5: Overall Evaluation - The audit committee adhered to relevant regulations and effectively supervised the accounting firm's performance, ensuring an independent and objective audit of the company's financial status and internal controls [5]. - The committee recognized Zhongxinghua's commitment to fair and objective auditing practices, reflecting good professional ethics and business quality [5].

Core Viewpoint - Beijing Yatai and Zhongtianyun have applied for the cancellation of their securities service business records, indicating a trend of increased regulatory scrutiny in the auditing industry [1][3]. Group 1: Company Actions - Beijing Yatai International Accounting Firm and Zhongtianyun Accounting Firm have voluntarily applied for the cancellation of their securities service business records as of June 24, 2025 [1][2]. - This marks a total of five accounting firms that have canceled their securities service business records within the year [3]. Group 2: Regulatory Environment - The Ministry of Finance and the China Securities Regulatory Commission (CSRC) revised the "Management Measures for the Record of Accounting Firms Engaging in Securities Services," establishing a more dynamic record management system [4]. - The revised measures include a new chapter on "record verification, announcement, and cancellation," specifying that firms may have their records canceled under seven specific circumstances [4]. - The regulatory environment has become increasingly stringent, with significant penalties imposed on firms for violations, including a notable case where Zhongtianyun was fined 288.7 million yuan for issues in its audit reports [3][4].

Group 1 - The Ministry of Finance's Accounting Department announced the voluntary deregistration of securities service business by Beijing Yatai International Accounting Firm and Zhongtianyun Accounting Firm, reflecting the challenges and strategic adjustments in the auditing industry under strong regulatory conditions [1] - Zhongtianyun had actively expanded its business in the capital market, conducting audits for 8 listed companies in the 2024 annual report audit, indicating a significant shift in the firm's strategy [1] - The auditing industry has faced immense pressure due to hundreds of penalties imposed by regulatory bodies on various accounting firms, highlighting the risks associated with audit failures and the potential civil liabilities from investor lawsuits [1] Group 2 - The implementation of the revised Accounting Law on July 1, 2024, significantly increases the accountability and penalties for accounting violations, creating a more challenging environment for accounting firms [2] - The risk-reward balance for accounting firms engaged in securities services has become severely skewed, with increased operational costs and heightened risks of violations leading to uncertain potential losses [2] - The shift in attitude from "competing for business" to "voluntarily exiting" the securities service sector reflects the changing dynamics within the industry, necessitating firms to enhance their auditing skills and independence to navigate the complex auditing landscape [2]

Core Viewpoint - The Shenzhen Stock Exchange issued regulatory letters to CITIC Securities and Dahua Certified Public Accountants for violations during the IPO process of Huimang Microelectronics, leading to penalties for the involved parties [1][4]. Group 1: Violations Identified - CITIC Securities and Dahua CPA were found to have three main violations during the IPO process of Huimang Microelectronics [4]. - The first violation involved insufficient verification of the issuer's internal controls over distribution revenue, resulting in inaccurate verification opinions [5][8]. - The second violation was related to inadequate scrutiny of the issuer's and its affiliates' fund flows, particularly concerning large abnormal transactions [9]. - The third violation pertained to a lack of attention to the accuracy of the issuer's disclosed production cycle [10]. Group 2: Financial Data and Implications - The prospectus indicated that the issuer's distribution revenue accounted for 91.37%, 94.58%, 95.85%, and 96.78% of its main business income during the reporting periods [6]. - The issuer's production cycle was disclosed as approximately six months, but investigations revealed that some products had significantly longer production cycles, affecting inventory valuation and impairment assessments [11]. Group 3: Regulatory Actions and Recommendations - The Shenzhen Stock Exchange decided to issue written warnings to CITIC Securities and Dahua CPA, emphasizing the need for improved compliance and internal accountability [12]. - CITIC Securities is required to submit a written rectification report within twenty trading days, signed by key responsible personnel [12]. - Both firms are urged to enhance their professional diligence and ensure the accuracy and completeness of their audit and verification processes [12].

Core Viewpoint - The company has proposed to appoint Zhongshun Zhonghuan Accounting Firm as the auditor for the 2025 financial statements and internal control audit, maintaining continuity with the previous year's auditor [1][5]. Group 1: Auditor Information - The proposed auditor is Zhongshun Zhonghuan Accounting Firm, established in 1987, and is one of the first large accounting firms approved for securities and financial audit qualifications [2]. - The firm has 216 partners and 1,304 registered accountants, with 723 having signed securities service audit reports [2]. - In 2024, the firm reported total audited revenue of 2.1718557 billion RMB and served 244 listed company clients across various industries [2]. Group 2: Audit Fees and Procedures - The audit fee for the 2025 financial statements is estimated at 2.3 million RMB (including tax) [4][5]. - The audit committee has reviewed the qualifications of Zhongshun Zhonghuan and recommends the firm for the 2025 audit, ensuring compliance with relevant laws and standards [4]. - The appointment is subject to approval by the company's shareholders' meeting [5].

Core Viewpoint - The company intends to reappoint Lixin Certified Public Accountants as its external auditor for the fiscal year 2025, pending approval from the shareholders' meeting [1][6]. Group 1: Auditor Information - The proposed auditor, Lixin, was founded in 1927 and is a member of the international accounting network BDO, with a registered address in Shanghai [1][2]. - As of the end of 2024, Lixin has 296 partners, 2,498 registered accountants, and a total of 10,021 employees, with 743 registered accountants having signed audit reports for securities services [2]. - Lixin's audited business revenue for 2024 was 4.748 billion RMB, with audit revenue at 3.672 billion RMB and securities business revenue at 1.505 billion RMB [2]. Group 2: Audit Services and Fees - Lixin provided annual report audit services for 693 listed companies in 2024, with audit fees totaling 854 million RMB [2]. - The company plans to pay Lixin a total of 857,000 RMB for the 2025 external audit, which includes 203,000 RMB for interim review, 450,000 RMB for annual audit, and 204,000 RMB for internal control audit [5][6]. Group 3: Audit Committee and Board Approval - The audit committee reviewed Lixin's professional competence, investor protection capabilities, integrity, and independence, concluding that Lixin meets the company's audit requirements [6]. - The board of directors approved the reappointment of Lixin with a unanimous vote of 7 in favor during the meeting held on May 29, 2025 [6].