China Development Bank Financial Leasing Co., Ltd. (CDB Leasing) announced that the mandates of its current auditors—BDO China Shu Lun Pan Certified Public Accountants LLP and BDO Limited—will conclude at the end of the company’s 2025 Annual Shareholders’ Meeting.
To ensure audit continuity beyond that date, the Board intends to appoint Baker Tilly China Certified Public Accountants for PRC-GAAP reporting and Baker Tilly Hong Kong Limited for international-standards reporting for the 2026 financial year. The proposed engagement will be submitted for approval at the 2025 Annual Shareholders’ Meeting; the appointment would run until the 2026 shareholders’ meeting, when a new audit mandate will be considered.
The selection followed the Administrative Measures for the Selection and Appointment of Accounting Firms by State-owned Financial Enterprises (Cai Jin [2020] No. 6). Evaluation criteria included governance structure, professional ethics, technical capabilities, regulatory experience, audit scope, resource allocation, communication plans and quality-control processes.
CDB Leasing confirmed there are no disagreements or unresolved matters with the outgoing auditors, and BDO has stated that it has no issues requiring shareholder attention. The Board expressed its appreciation for BDO’s services from 2023 to 2025.
Subject to shareholder approval, the Board—empowered by the forthcoming resolution—may delegate to senior management the authority to finalise Baker Tilly’s remuneration based on service scope and workload. A detailed circular and formal meeting notice will be dispatched to shareholders in due course.
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