Shangwei Co., Ltd. Proposes to Retain Rongcheng Accounting Firm as the Audit Institution for 2026 with Audit Fees Remaining Unchanged

Shangwei Co., Ltd. (Stock Code: 603333, Stock Name: Shangwei Co.) recently announced that it intends to re-engage Rongcheng Certified Public Accountants (Special General Partnership) as the company’s audit firm for 2026, responsible for annual financial report audits and internal control audits, among other services. The announcement states that the 2026 audit fees will remain the same as 2025, with an annual report audit fee of 800,000 yuan and an internal control audit fee of 150,000 yuan.

The announcement discloses basic information about Rongcheng Certified Public Accountants. The firm was formerly known as Huapu Tianjian Certified Public Accountants (Special General Partnership), established in August 1988. It was restructured into a special general partnership in December 2013. Its registered address is No. 22 Fuchengmen Outer Street, Xicheng District, Beijing. The chief partner is Liu Wei. As of December 31, 2025, Rongcheng CPA had 196 partners and 1,549 licensed CPAs, including 781 who have signed securities service audit reports. In 2024, the firm’s total revenue was approximately 2,510.258 million yuan, with audit revenue of about 2,348.629 million yuan and securities and futures business revenue of approximately 1,237.646 million yuan. It provided 518 listed companies with 2024 annual report audits, earning a total audit fee of about 620.475 million yuan. Among listed companies in Shangwei Co.’s industry, it served 383 clients.

Regarding investor protection, Rongcheng CPA has purchased professional liability insurance with a cumulative compensation limit of no less than 250 million yuan. The announcement also mentions that the firm has been involved in civil litigation in the past three years, including a case related to securities false statements involving LeEco. Rongcheng CPA was ordered to bear joint liability within 1%, and the case is currently in the second-instance appeal process. Its integrity record shows that in the past three years, Rongcheng CPA received 1 administrative penalty, 12 supervisory measures, 11 self-regulatory measures, 4 disciplinary sanctions, and 1 self-disciplinary action. Additionally, 98 staff members were subject to 4 administrative penalties and 20 supervisory measures over the same period.

Project information indicates that the project partner for this audit is Feng Ju, with registered CPAs Zuo Shangpeng and Yi Yuwei signing off, and Liu Zehan serving as the project quality reviewer. All personnel possess the relevant qualifications and experience, and none have been subject to criminal or administrative penalties in the past three years. Rongcheng CPA and its personnel do not have any conflicts of interest or violations of independence requirements.

Regarding the re-engagement process, the company’s Audit Committee and independent directors have reviewed and approved this matter, believing that Rongcheng CPA has the professional competence, investor protection ability, and good integrity to provide true and fair audit services. The company’s 6th Board of Directors, at its 8th meeting, approved the re-engagement proposal with 9 votes in favor, 0 against, and 0 abstentions. According to regulations, this re-engagement is also subject to approval at the company’s 2025 annual general meeting and will take effect from the date of approval by the shareholders.

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