COSCO SHIPPING Development Initiates Auditor Rotation, Selects BDO Firms for 2026 Audit Mandate

Bulletin Express05-21

COSCO SHIPPING Development Co., Ltd. announced a planned change of auditors in line with China’s mandatory rotation rules for state-owned and listed enterprises.

The Audit Committee meeting on 19 May 2026 and the Board meeting on 21 May 2026 approved a proposal to replace incumbent auditors ShineWing Certified Public Accountants LLP and SHINEWING (HK) CPA Limited—engaged for eight and four consecutive years, respectively.

Subject to shareholder approval at the 2025 annual general meeting and completion of client-acceptance procedures, the company will appoint: • BDO China Shu Lun Pan Certified Public Accountants LLP as domestic financial-statement auditor and internal-control auditor for 2026. • BDO Limited (Hong Kong) as international auditor for 2026.

Proposed audit fees are RMB4.88 million for the domestic financial audit, RMB0.80 million for the internal-control audit and RMB4.70 million for the international audit. Fee levels reflect business complexity, audit scope, timetable and market benchmarks.

COSCO SHIPPING Development confirmed there are no disagreements or outstanding matters with the outgoing auditors. ShineWing and SHINEWING (HK) also stated that nothing relating to their dismissal needs to be brought to shareholders’ attention.

A circular detailing the proposed appointments will be dispatched to shareholders in due course.

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