Audit Committee's Evaluation Report on the Performance of the Accounting Firm for 2025
Yantai Zhenghai Biological Technology Co., Ltd. (hereinafter referred to as "the Company") appointed Tianzhi International Accounting Firm (Special General Partnership) (hereinafter referred to as "Tianzhi International") as the auditing institution for the Company for the year 2025. In accordance with the "Management 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, and the China Securities Regulatory Commission, the Company's Board Audit Committee diligently performed its duties and evaluated Tianzhi International's performance for 2025. The specific details are as follows:
1. Qualification Conditions
- Basic Information of the Institution
Tianzhi International was established in December 1988 and is headquartered in Beijing. It is a large comprehensive consulting institution focused on audit assurance, capital market services, management consulting, government consulting, tax services, legal and liquidation services, information technology consulting, engineering consulting, and enterprise valuation. The chief partner of Tianzhi International is Qiu Jingzhi, and its registered address is Building A-1 and A-5, No. 68, Chegongzhuang West Road, Haidian District, Beijing. Tianzhi International has obtained a practice certificate issued by the Beijing Municipal Finance Bureau and is one of the first accounting firms in China qualified for securities and futures-related business, permitted to conduct audits for large state-owned enterprises, and has qualifications for financial audits, accounting judicial appraisal, and military-related confidential business consulting services. It is also registered with the PCAOB in the United States. Tianzhi International has been engaged in securities services for over twenty years. As of December 31, 2024, Tianzhi International had 90 partners, 1,097 registered accountants, and 399 registered accountants who had signed audit reports for securities services. The total audited revenue for 2024 was 2.501 billion yuan, with audit service revenue of 1.938 billion yuan and securities service revenue of 912 million yuan. In 2024, there were 154 listed company audit clients, primarily in industries such as manufacturing, information transmission, software and information technology services, electricity, heat, gas, and water production and supply, wholesale and retail, transportation, warehousing and postal services, scientific research and technical services, etc., with total audit fees of 230 million yuan. The Company had 88 listed company audit clients in the manufacturing industry.