China Southern Airlines Switches Auditors from KPMG to ShineWing, Audit Fees Drop by 2.02 Million Yuan to 10.98 Million

Deep News01-31

On January 30, China Southern Airlines (600029.SH) announced its intention to change its accounting firm. The previously appointed firms were KPMG Huazhen LLP and KPMG. Having provided audit services for the company for ten consecutive years, and in accordance with relevant regulations, the company now proposes to appoint ShineWing Certified Public Accountants as the domestic financial report and internal control auditor for the 2026 fiscal year. Additionally, ShineWing (HK) CPA Limited is proposed as the international financial report auditor for 2026.

Information on ShineWing Certified Public Accountants Established on March 2, 2012, the firm had 259 partners and 1,780 Certified Public Accountants as of December 31, 2024. Its audited business revenue for 2024 was RMB 4.054 billion, with audit business revenue accounting for RMB 2.587 billion and securities business revenue amounting to RMB 976 million. The firm has obtained professional liability insurance as required by relevant laws and regulations, with the sum of the cumulative compensation limit for professional insurance and the professional risk fund exceeding RMB 200 million.

Information on ShineWing (HK) CPA Limited Established on May 11, 2005, the firm had 21 partners and 112 Hong Kong Certified Public Accountants as of December 31, 2024. Its professional indemnity insurance coverage limit is HKD 30 million.

The total audit fee for the company's 2026 fiscal year is RMB 10.98 million (including tax). This comprises RMB 9.36 million for the annual report audit and RMB 1.62 million for the internal control audit. This represents a decrease of RMB 2.02 million compared to the previous year's audit fee of RMB 13 million.

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