Qingdao Double Star Co., Ltd.
Announcement on Proposed Change of Accounting Firm
The Company and all members of the Board of Directors guarantee the content of the information disclosed is true, accurate, and complete, and that there are no false representations, misleading statements, or material omissions.
Special Notes:
- Name of the previously appointed accounting firm:
Zhongxinghua Certified Public Accountants (Special General Partnership) (hereinafter referred to as "Zhongxinghua CPAs" or "Zhongxinghua").
- Name of the proposed accounting firm:
Lixin Certified Public Accountants (Special General Partnership) (hereinafter referred to as "Lixin CPAs" or "Lixin").
- Reason for changing the accounting firm:
In view of the Company's completion of a major asset restructuring with Kumho Tire Co., Ltd. (hereinafter referred to as "Kumho Tire"), to effectively ensure the authority and timeliness of the Company's annual financial reports and internal control audit work, and to continuously improve the Company's governance level, considering the Company's business development and overall audit work needs, the Company proposes to re-select the 2026 annual audit institution.
Qingdao Double Star Co., Ltd. (hereinafter referred to as the "Company") held the second meeting of the eleventh Board of Directors on July 27, 2026, and deliberated and approved the "Proposal on the Proposed Change of Accounting Firm". It was agreed to appoint Lixin Certified Public Accountants (Special General Partnership) as the Company's 2026 annual audit institution. The relevant matters are hereby announced as follows:
I. Basic Information of the Proposed Accounting Firm
(I) Institutional Information
- Basic Information
Lixin Certified Public Accountants (Special General Partnership) was founded in 1927 by Dr. Pan Xulun, a renowned Chinese accountant, in Shanghai. It was re-established in 1986 and became the first special general partnership accounting firm in China to complete its restructuring in 2010. Its registered address is in Shanghai, and its chief partner is Mr. Zhu Jiandi. Lixin is a member of the international accounting network BDO, has long been engaged in securities service business, held securities and futures business licenses before the implementation of the new Securities Law, has H-share audit qualifications, and is registered with the Public Company Accounting Oversight Board (PCAOB) in the United States.
Registered address: 4th Floor, No. 61 Nanjing East Road, Huangpu District, Shanghai