- Xinning Electric Co., Ltd. Evaluation Report on the Performance of the Accounting Firm for 2025 and the Audit Committee's Oversight Responsibilities
According to the relevant regulations including the Company Law of the People's Republic of China, the Management Measures for the Appointment of Accounting Firms by State-owned Enterprises and Listed Companies, the Management Measures for Independent Directors of Listed Companies, and the Self-Regulatory Guidelines for Listed Companies on the Shenzhen Stock Exchange, the Audit Committee of Xinning Electric Co., Ltd. (hereinafter referred to as "the Company") evaluated the performance of its auditing firm, Lixin Certified Public Accountants (Special General Partnership) (hereinafter referred to as "Lixin"), for the year 2025 and fulfilled its oversight responsibilities. The relevant report is as follows:
1. Basic Information of the Accounting Firm
Lixin was founded in Shanghai in 1927 by the accounting master Dr. Pan Xulun, resumed operations 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 the chief partner is Mr. Zhu Jiandi. Lixin is a member of the international accounting network BDO and has long been engaged in securities services. Before the implementation of the new Securities Law, it held licenses for securities and futures business, has qualifications for auditing H-shares, and is registered with the Public Company Accounting Oversight Board (PCAOB) in the United States. As of the end of 2025, Lixin had 300 partners, 2,523 certified public accountants, and a total of 9,933 employees, with 802 certified public accountants having signed audit reports for securities services.