Ming Yang Smart Energy Group Limited (MYSE), a China-listed renewable energy company trading its global depositary receipts under the symbol MYSE, has announced that its Board approved the renewal of Ernst & Young Hua Ming LLP (Special General Partnership) as its financial and internal control auditor for the year 2026. The proposal was considered and approved at the second meeting of the fourth Board on 29 October 2026 and must now be submitted to shareholders for final consideration. The appointment will take effect only upon shareholder approval, making the forthcoming Shareholders' Meeting a key date for investors to monitor.

Key Points

  • Ming Yang Smart Energy Group Limited (GDR symbol: MYSE), a joint stock company incorporated under the laws of the People's Republic of China
  • The Board approved renewing Ernst & Young Hua Ming LLP as auditor for 2026 financial reports and internal controls at its 29 October 2026 board meeting
  • Ernst & Young Hua Ming reported total audited business revenue of RMB 6.501 billion for 2025, with audit services contributing RMB 6.284 billion
  • Investors should watch for the Shareholders' Meeting outcome, which will determine whether the appointment formally takes effect

Board Approves Ernst & Young Hua Ming Renewal at 29 October 2026 Meeting

At the second meeting of the fourth Board held on 29 October 2026, Ming Yang Smart Energy Group's directors deliberated and approved the Proposal on Renewal of the Engagement of the Accounting Firm. The Audit Committee had previously reviewed Ernst & Young Hua Ming's professional competence, investor protection capability, and independence, concluding that the firm meets all relevant regulatory requirements. The Board is now requesting the Shareholders' Meeting to authorise management to determine the 2026 audit fees — covering both financial report and internal control audits — on fair and reasonable market pricing principles, and to execute related service agreements.

Ernst & Young Hua Ming's Scale and 2025 Revenue Figures

Ernst & Young Hua Ming, headquartered in Beijing and established in September 1992, reported total audited business revenue of RMB 6.501 billion for 2025. Revenue from audit services alone reached RMB 6.284 billion, with domestic securities services contributing RMB 1.693 billion. The firm had 158 A-share listed company audit clients for annual reports in 2025, generating fees of RMB 1.611 billion. As of end-2025, the firm employed more than 1,700 practising certified public accountants, of whom more than 1,500 had experience in securities-related business services. It had 92 listed company audit clients operating in the same industry as Ming Yang Smart Energy.

Project Team Credentials and Independence Confirmation for Ming Yang's 2026 Audit

The designated project team includes Partner and Signing CPA Mr Boyuan Wen, who has engaged in audits of listed companies since 2005 and began serving Ming Yang in 2025, and Signing CPA Mr Yucheng Huang, who joined Ernst & Young Hua Ming in 2013 and also commenced services for the company in 2025. Project Quality Control Reviewer Ms Xinxin Hao has practised since 2003. The announcement confirms that all three individuals meet the independence requirements under the Independence Standards for Chinese Certified Public Accountants No. 1 and the Code of Ethics for Chinese Certified Public Accountants, with no criminal or relevant administrative penalties recorded in the past three years.

Shareholder Approval Required Before Ming Yang Auditor Appointment Takes Effect

The appointment of Ernst & Young Hua Ming as Ming Yang Smart Energy's 2026 auditor is not yet confirmed — it remains conditional on approval at the forthcoming Shareholders' Meeting. The announcement states the engagement will take effect only from the date of that approval. The final audit fee for 2026 has not yet been set; the announcement indicates it will be determined by management in accordance with fair and reasonable pricing principles, reflecting the company's business scale, industry, complexity of accounting treatment, and workload involved. The company did not disclose this figure in the announcement.