Blue Sail Medical Co., Ltd.
Evaluation Report on the Performance of the Accounting Firm in 2025
Blue Sail Medical Co., Ltd. (hereinafter referred to as the "Company") engaged Ernst & Young Hua Ming (Special General Partnership) (hereinafter referred to as "EY Hua Ming") as its auditor for the Company's 2025 financial reports and internal control audit institution. In accordance with the "Administrative Measures for the Selection of Accounting Firms by State-owned Enterprises and Listed Companies" issued by the Ministry of Finance, the State-owned Assets Supervision and Administration Commission of the State Council, and the China Securities Regulatory Commission, the Company has evaluated EY Hua Ming's performance during the 2025 audit process. The details are as follows:
I. Basic Information of the Accounting Firm
(I) Qualification Conditions
- Information on the Institution
EY Hua Ming was established in September 1992 and completed its localization reform in August 2012, transforming from a Sino-foreign cooperative limited liability partnership into a special general partnership. EY Hua Ming's headquarters is located in Beijing, with its registered address at 17th Floor, EY Tower, Oriental Plaza, East Chang'an Street, Dongcheng District, Beijing, Room 01-12.
- Personnel Information
As of the end of 2025, there were 249 partners, with Mr. Mao Anning serving as the Managing Partner. EY Hua Ming has always focused on talent development. As of the end of 2025, there were over 1,700 practicing certified public accountants, of which more than 1,500 had experience in securities-related business services. Over 550 certified public accountants had signed audit reports for securities service businesses.
- Business Information
EY Hua Ming's total business revenue in 2024 was RMB 5.710 billion, of which audit business revenue was RMB 5.457 billion (including RMB 2.369 billion from securities business). In 2024, it audited the annual reports of 155 A-share listed companies, with a total fee of RMB 1.189 billion. These listed companies are mainly in industries such as manufacturing, finance, wholesale and retail, mining, and information transmission, software, and information technology services. The Company has 86 audit clients in the same industry.
(II) Practice Record
- Basic Information
The signing engagement partner, Ms. Li Huihua, became a certified public accountant in 2010 and began auditing listed companies. She has been practicing at EY Hua Ming since 2006. Ms. Li Huihua has been providing audit services to the Company since 2021.
Ms. Gao Jie, the signing certified public accountant, became a certified public accountant in 2014 and began auditing listed companies in 2015. She has been practicing at EY Hua Ming since 2010. She has been providing audit services to the Company since 2021. In the past three years, she has signed audit reports for the annual reports and internal controls of several listed companies, covering industries such as manufacturing, information transmission, and software and information technology services.
Mr. Li Peng, the project quality control reviewer, became a certified public accountant in 2015 and began auditing listed companies in 2015. He has been practicing at EY Hua Ming since 2015. In the past three years, he has signed audit reports for the annual reports and internal controls of several listed companies, covering industries such as manufacturing.
- Integrity Record
The engagement partner, signing certified public accountant, and quality control reviewer have not been subject to criminal penalties, administrative penalties from the China Securities Regulatory Commission and its local branches, industry authorities, or self-regulatory measures and disciplinary actions from stock exchanges or industry associations in the past three years due to their professional conduct.
- Independence
EY Hua Ming and the engagement partner, signing certified public accountant, and quality control reviewer have not violated the independence requirements of the "Code of Professional Ethics for Chinese Certified Public Accountants."