Great Wall Motor Company Limited (abbreviated as GWMOTOR) has proposed to re-appoint Deloitte Touche Tohmatsu Certified Public Accountants LLP (Deloitte CPA) as its external auditor for the financial year ending 31 December 2026. The proposal will be put to a shareholder vote at the 2025 Annual General Meeting.
Key points of the proposed mandate:
1. Auditor Profile • Deloitte CPA, headquartered in Shanghai, operates as a special general partnership with 214 partners, 6,133 practitioners and 1,161 certified public accountants, more than 270 of whom sign securities-related audit reports. • In 2024 the firm reported total audited revenue of RMB3.89 billion, of which RMB3.35 billion came from audit services and RMB0.66 billion from securities business. • Deloitte CPA audited 61 listed companies’ 2024 annual reports, including 24 peers in the automotive sector. • Professional liability insurance coverage exceeds RMB200 million. No civil liabilities have been imposed in the past three years; compliance issues recorded (one administrative penalty, one regulatory measure and two exchange self-regulation measures) did not affect its licence to undertake securities business.
2. Engagement Team • Engagement Partner & Signing CPA: Ms. Liu Yu (CPA since 2011; serving GWMOTOR since 2024). • Engagement Quality Reviewer: Ms. Zheng Qun (CPA since 1999; serving GWMOTOR since 2025). • Co-Signing CPA: Ms. Fu Wenting (CPA since 2019; serving GWMOTOR since 2025). All designated professionals have maintained clean integrity records and meet independence requirements.
3. Audit Fees • For FY2025, Deloitte CPA will receive RMB2.41 million for interim review and annual audit plus RMB0.33 million for internal control audit, totalling RMB2.74 million. • For FY2026, the Board seeks shareholder authorisation to set remuneration at no more than RMB4.50 million.
4. Corporate Governance Process • The Audit Committee confirmed Deloitte CPA’s professional competence, investor-protection capability, integrity and independence, and recommended re-appointment. • The Board approved the proposal unanimously (8 votes in favour, none against or abstaining) at its 48th meeting of the eighth session. • The re-appointment will take effect upon shareholder approval at the 2025 AGM and remain valid until the 2026 AGM.
The announcement underscores continuity in GWMOTOR’s external audit oversight while providing for a higher fee ceiling to accommodate the 2026 engagement scope.
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