Ping An Bank Proposes to Re-engage EY Huaming as Auditor for 2026

MaticHoleFiller · 2026-03-20T23:18:37+00:00

Ping An Bank's Board of Directors proposes to reappoint Ernst & Young Huaminghuaminghuaming Accounting Firm as the auditor for 2026, with audit fees of 9.69 million yuan. Ernst & Young Huaming possesses professional qualifications, maintains good regulatory records over the past three years, and the project team members meet independence requirements. This proposal is pending shareholder meeting review and approval.

MaticHoleFiller

2026-03-20 23:18:37

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Sina Finance Data: Ping An Bank Co., Ltd. held a board meeting on March 20, 2026, and approved the proposal to reappoint Ernst & Young Hua Ming LLP (Special General Partnership) as the auditor for its 2026 China Accounting Standards audit. The proposal is still subject to approval by the company’s shareholders’ meeting.

According to the disclosed key information, the reappointed accounting firm, Ernst & Young Hua Ming, possesses the necessary qualifications and capabilities. In 2024, its total business revenue was 5.71 billion yuan, with audit services revenue of 5.477 billion yuan. Ernst & Young Hua Ming has set aside sufficient professional risk funds and purchased professional insurance, ensuring investor protection. In the past three years, it has been subject to supervision and management measures three times and self-regulatory measures once due to professional conduct.

The key personnel in this audit team include: Project Partner and Lead Certified Public Accountant Chen Sheng, Project Quality Control Review Partner Li Linlin, and Second Signatory Certified Public Accountant Luo Yang. The announcement states that these individuals have not been subject to criminal or administrative penalties related to their professional conduct in the past three years and meet independence requirements with Ping An Bank.

Regarding audit fees, Ping An Bank plans to pay a total of 9.69 million yuan to Ernst & Young Hua Ming in 2026, unchanged from the previous year. This fee includes 8.19 million yuan for financial audit services and 1.5 million yuan for internal control audit services. The fee is determined based on market fairness principles, considering factors such as business scale and workload through negotiation.

The Board Audit Committee has reviewed Ernst & Young Hua Ming’s professional competence, integrity, and independence, and considers them to meet the requirements. It has agreed to submit the reappointment proposal to the Board of Directors. The company’s board has approved the proposal. This reappointment complies with relevant regulations from the Ministry of Finance, State-owned Assets Supervision and Administration Commission, and the China Securities Regulatory Commission regarding the selection of accounting firms.

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