Ming Yang Smart Energy to Host EGM for Auditor Selection

Ming Yang Smart Energy Announces EGM for Auditor Reappointment

Ming Yang Smart Energy Group Limited (GDR:MYSE), a prominent company based in China, has exciting news regarding its governance. The organization is set to hold its Second Extraordinary General Meeting (EGM) to discuss an important step: the reappointment of its accounting firm. Members and stakeholders are encouraged to participate in this pivotal event.

Details of the Upcoming EGM

The EGM will take place in the company's conference room and is scheduled for an upcoming Wednesday, where shareholders will gather to review and approve the reappointment of Grant Thornton Zhitong Certified Public Accountants LLP. This resolution is significant as it follows the approval received from the Board of Directors during their recent meeting.

Why Grant Thornton?

Grant Thornton has established itself as a reputable firm within the audit industry. With a robust workforce comprised of nearly 6,000 professionals and 225 partners, they possess the necessary expertise and resources to handle the auditing needs of organizations like Ming Yang Smart Energy. The firm's impressive revenue of RMB2.703 billion in 2023 showcases their capability, particularly in audit-related services.

Commitment to Investor Protection

A key aspect of Grant Thornton’s appeal to Ming Yang Smart Energy is its commitment to investor protection. The firm has made significant investments in occupational insurance, featuring an indemnity limit of RMB900 million, which aligns with essential regulatory standards. Such measures signify the firm's dedication to safeguarding investors’ interests.

Audit Practices and Integrity

In examining Grant Thornton's track record over the past three years, it becomes clear that the firm maintains a high standard of integrity. They have avoided civil liabilities from any concluded litigation, showcasing reliability in their practices. Although they faced some supervisory and management measures during this timeframe, there have been no criminal or administrative penalties recorded, reinforcing their position of trust.

Roles and Responsibilities During the EGM

During the EGM, attendees will also evaluate critical roles such as the project partner, signing certified public accountant, and project quality control reviewer. All individuals in these positions have clean records concerning any penalties and have been confirmed to maintain their independence without any factors that could compromise it.

Setting Audit Fees

The audit fees for Grant Thornton's services will be determined by Ming Yang Smart Energy’s management, adhering to fair market practices. This careful consideration ensures that the fees remain reasonable in relation to the responsibilities and workload required for their services, fostering a transparent financial environment.

Looking Ahead

The upcoming EGM represents an important chapter for Ming Yang Smart Energy as it continues to fortify its governance framework. The decisions made during this meeting will not only affect internal accountability but will also affirm the company's commitment to transparency and stakeholder engagement.

Frequently Asked Questions

What is the purpose of the EGM for Ming Yang Smart Energy?

The EGM aims to discuss the reappointment of Grant Thornton Zhitong Certified Public Accountants as the company's auditor for the upcoming financial year.

When is the EGM scheduled?

The EGM is set to be held on a Wednesday in December, providing stakeholders the opportunity to participate.

Who is Grant Thornton Zhitong Certified Public Accountants?

Grant Thornton is a well-established auditing firm with extensive expertise and resources dedicated to providing reliable audit services.

What measures have been taken for investor protection?

Grant Thornton has invested in occupational insurance with a significant indemnity limit, reinforcing their commitment to safeguarding investor interests.

How are the audit fees determined?

The audit fees are set by the company's management based on fair market pricing and the workload involved in providing their services.

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