COSCO SHIP DEV (02866) has announced a board resolution proposing the appointment of new auditors. This move follows the completion of eight and four consecutive years of service, respectively, by the current domestic and Hong Kong audit firms, aligning with regulatory requirements for state-owned enterprises and listed companies regarding auditor rotation. To strengthen auditor independence and implement a rotation system, the board considers it sound corporate governance practice to periodically rotate its domestic auditor, internal control auditor, and international auditor. The board proposes to appoint BDO China Shu Lun Pan Certified Public Accountants LLP (BDO) as the company's domestic and internal control auditor for the fiscal year 2026, and BDO Limited as the international auditor for the same period. Their terms would commence upon the conclusion of the 2025 annual general meeting and last until the end of the following annual general meeting. These proposed appointments are subject to approval by shareholders at the annual general meeting and the completion of relevant client acceptance procedures by BDO and BDO Limited.