Evaluation Report on the Performance of the Accounting Firm for the Year 2025
Hubei Hendi Pharmaceutical Co., Ltd. (hereinafter referred to as "the Company") has appointed Da Xin Accounting Firm (Special General Partnership) (hereinafter referred to as "Da Xin") as the auditing institution for the Company's 2025 annual report. 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 of the State Council, and the China Securities Regulatory Commission, the Company has evaluated Da Xin's performance during the 2025 audit process.
1. Qualification Conditions
Da Xin was established in 1985 and transitioned to a special general partnership in March 2012, headquartered in Beijing, with its registered address at Room 2206, 22nd Floor, No. 1 Zhichun Road, Haidian District, Beijing. The chief partner is Mr. Xie Zemin. As of December 31, 2025, Da Xin has a total of 3,914 employees, including 182 partners and 1,053 certified public accountants (CPAs). Among the CPAs, over 500 have signed audit reports for securities service businesses. In 2024, the business revenue was 1.575 billion yuan, serving over 10,000 companies. The revenue from audit services was 1.378 billion yuan, and from securities services was 405 million yuan. In 2024, Da Xin audited 221 listed company annual reports (including H-shares), with an average asset size of 19.544 billion yuan and total fees of 282 million yuan. The clients are mainly distributed across manufacturing, information transmission, software and information technology services, electricity, heat, gas, and water production and supply, scientific research and technical services, and water conservancy, environmental, and public facility management. The Company has 145 audit clients in the same industry.
The basic information of the project partner, signing CPA, and project quality control reviewer for the Company's 2025 audit project is as follows:
- Signing Project Partner: Pan Yangzhou, became a CPA in 2014, started engaging in listed company audits in 2012, has been practicing at Da Xin since 2012, began providing audit services for the Company in 2023, and has signed annual audit reports for companies including Hubei Hendi Pharmaceutical Co., Ltd. in the past three years.
- Signing CPA: Yang Hong, became a CPA in 2014, started engaging in listed company audits in 2012, has been practicing at Da Xin since 2012, began providing audit services for the Company in 2025, and has signed audit reports for companies including Hubei Hendi Pharmaceutical Co., Ltd. in the past three years.
- Project Quality Control Reviewer: Xiao Xianmin, became a CPA in 2006, started engaging in listed company audit quality reviews in 2010, has been practicing at Da Xin since 2005, and has reviewed annual audit reports for companies including Hubei Hendi Pharmaceutical Co., Ltd. in the past three years.