CGN Power Co., Ltd. (CGN Power) disclosed that its board, at the nineteenth meeting of the fourth session held on 25 March 2026, approved the proposal to re-appoint KPMG Huazhen LLP (Special General Partnership) as the auditor for the 2026 financial statements. The engagement remains subject to approval at the forthcoming general meeting.

KPMG Huazhen, founded in 2012 and headquartered in Beijing, reported total operating revenue of more than 4.10 billion RMB in 2024, of which audit services contributed over 4.00 billion RMB and securities-related services approximately 1.90 billion RMB. The firm served 127 A- and B-share listed companies last year, generating 682 million RMB in audit fees. Insurance cover and occupational risk funds exceed 200 million RMB, and no criminal or major administrative penalties were recorded in the past three years. One bond-related litigation resulted in compensation of about 4.60 million RMB, representing 2%–3% of the claim.

The designated project team will be led by partner Lin Qixing, with Lin Xi as co-signing CPA and Sun Wenju as quality control reviewer. All team members meet independence and professional qualification requirements, and none have been subject to disciplinary actions that would impair eligibility.

The audit and risk management committee concluded that KPMG has maintained diligence, independence and service continuity. For 2026, the base audit and interim review fee is set at 9.00 million RMB, aligned with the prior year. The chief financial officer is authorised to approve additional fees arising from changes in business scope.

Relevant resolutions from the board and its audit committee, along with KPMG’s credentials, have been filed for shareholder inspection. The re-appointment will take effect upon shareholder approval.