Issuers That Are Audit Clients of PCAOB-Registered Firms from Non-U.S. Jurisdictions where the PCAOB is Denied Access to Conduct Inspections

In order for their securities to be traded in U.S. capital markets, public companies, whether located in the United States or abroad, must comply with certain U.S. legal requirements, including the requirement to periodically file audited financial statements with the U.S. Securities and Exchange Commission ("SEC"). As required by the Sarbanes-Oxley Act of 2002, the auditor of those financial statements — whether a U.S. auditor or a non-U.S. auditor — must be registered with, and therefore subject to the jurisdiction of, the Public Company Accounting Oversight Board. This includes undergoing regular PCAOB inspections to assess the auditor's compliance with U.S. law and professional standards in connection with its audits of "issuers," as defined in the Sarbanes-Oxley Act.

PCAOB inspections may result in the identification of deficiencies in one or more of an audit firm's audits of issuers and/or in its quality control procedures which, in turn, can result in an audit firm carrying out additional procedures that should have been performed already at the time of the audit. Those procedures have sometimes led to the audited public company having to revise and refile its financial statements. In addition, through the quality control remediation portion of the inspection process, inspected firms identify and implement practices and procedures to improve future audit quality.

Because of the position taken by certain non-U.S. authorities, the PCAOB currently is prevented from inspecting the U.S.-related audit work and practices of PCAOB-registered firms in certain European countries, China, and, to the extent their audit clients have operations in China, Hong Kong. As a result of these obstacles, investors or potential investors in U.S. capital markets who rely on the audit reports of PCAOB-registered firms in these jurisdictions are deprived of the potential benefits of PCAOB inspections of these auditors. For the information of those investors and potential investors, the PCAOB publishes and regularly updates a list identifying each issuer whose PCAOB-registered auditor is located in a jurisdiction where obstacles to PCAOB inspections exist. This list is derived from annual reports on Form 2 filed with the PCAOB by registered public accounting firms which encompass audit reports issued by the firms in the period from April 1, 2012 to March 31, 2014. Except where otherwise indicated, the firm indicated in its Form 2 for 2014 (covering the period April 1, 2013 to March 31, 2014) having provided an audit report for the issuer.

The list is limited to issuers for which auditors from the jurisdictions in question reported having issued audit reports.** At the same time, it should also be recognized that there may be auditors from those jurisdictions, including auditors identified in the list, that play a substantial role in the audits of numerous multinational issuers not listed here. Even though these auditors do not issue audit reports for such multinational issuers, the audit work they perform is relied upon by the issuer's principal auditor, in the U.S. or elsewhere. That work is often significant to the audit of the financial statements the multi-national issuer files with the SEC and would also be within the scope of PCAOB inspections. Additional information is available under Related Information.

**Some issuers appear in the list more than once, showing more than one auditor. In some cases, this is because the firm had different auditors in different years. In other cases, it is because the issuer had a joint audit, with respect to which more than one auditor reported having issued an audit report. In addition, some companies that appear in the list may have ceased to be issuers since the time of the audit report cited in the relevant firm's annual report on Form 2. Finally, some auditors shown on the list have been inspected once by the PCAOB, either because, in the case of some firms in Greece and Ireland, an inspection was conducted before the current obstacles arose, or because, in the case of some firms in Hong Kong, the inspections did not involve, or no obstacles were raised to, review of audit work relating to a company's operations in China.

 Issuer Audit Clients

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21Vianet Group, Inc.Ernst & Young Hua Ming LLPChina
3SBio Inc.Ernst & Young Hua Ming LLPChina
500.com LtdErnst & Young Hua Ming LLPChina
51JOB, INC.PricewaterhouseCoopers Zhong Tian LLPChina
58.com Inc.PricewaterhouseCoopers Zhong Tian LLPChina
7 Days Group Holdings LtdKPMGHong Kong
ACL Semiconductors Inc.Albert Wong & Co. (2013 Form 2)Hong Kong
Acorn International, Inc.Deloitte Touche Tohmatsu Certified Public Accountants LLPChina
Actions Semiconductor Co., Ltd.Deloitte Touche TohmatsuHong Kong
ADGS Advisory , IncUnion Power HK CPA LimitedHong Kong
Advanced BioMedical Technologies, Inc.BAKER TILLY HONG KONG LIMITEDHong Kong
AEGEAN MARINE PETROLEUM NETWORK INCDeloitte Hadjipavlou,Sofianos, Cambanis SAGreece
Airmedia Group Inc.Deloitte Touche Tohmatsu Certified Public Accountants LLPChina
Allied Irish Banks P.L.C.Deloitte & Touche Auditors, Accountants and Business AdvisorsIreland
Allied Irish Banks plcKPMGIreland
Allships LtdErnst & Young (Hellas) Certified Auditors Accountants S.A. (2013 Form 2)Greece
Aluminum Corporation of China LimitedPricewaterhouseCoopers (2013 Form 2)Hong Kong
Aluminum Corporation of China LtdErnst & YoungChina
Ambow Education Holding Ltd.PricewaterhouseCoopers Zhong Tian LLP (2013 Form 2)China
Anheuser-Busch Inbev SAPricewaterhouseCoopers Reviseurs d'EntreprisesBelgium
Antiviral Technologies, Inc.Albert Wong & Co.Hong Kong
AOXING PHARMACEUTICAL COMPANY, INC.Dahua CPA Co.,Ltd. (2013 Form 2)China
Aoxing Pharmaceutical Company, Inc.BDO China Shu Lun Pan Certified Public Accountants LLPChina
ArcelorMittalDeloitte AuditLuxembourg
Ardmore Shipping CorporationErnst & Young Chartered AccountantsIreland
Asia Green Agriculture CorporationPKF (2013 Form 2)Hong Kong
Asia Pacific Wire & Cable Corp LtdErnst & Young (2013 Form 2)China
AsiaInfo-Linkage, Inc.Deloitte Touche Tohmatsu Certified Public Accountants LLP (2013 Form 2)China
ATA Inc.KPMGHong Kong
Autohome Inc.Ernst & Young Hua Ming LLPChina
AutoNavi Holdings LtdDeloitte Touche Tohmatsu Certified Public Accountants LLPChina
Baidu, Inc.Ernst & Young Hua Ming LLPChina
Baoshinn CorporationAlbert Wong & Co.Hong Kong
BIOPACK ENVIRONMENTAL SOLUTIONS INC.WONG LAM LEUNG & KWOK C.P.A. LIMITED (2013 Form 2)Hong Kong
BioPharma Innovation Capital, LPErnst & Young Chartered AccountantsIreland
Biostar Pharmaceuticals, Inc.Mazars CPA LimitedHong Kong
Biostar Pharmaceuticals, Inc.Clement C.W. Chan & Co.Hong Kong
Bitauto Holdings LtdErnst & Young Hua Ming LLPChina
Blue Spa IncorporatedDominic K. F. Chan & CoHong Kong
Bodisen Biotech, Inc.Clement C.W. Chan & Co.Hong Kong
Bona Film Group LtdDeloitte Touche Tohmatsu Certified Public Accountants LLPChina
Bonso Electronics International Inc.Moore Stephens (2013 Form 2)Hong Kong
Bonso Electronics International Inc.Moore StephensHong Kong
BOX SHIPS INCDeloitte Hadjipavlou,Sofianos, Cambanis SAGreece
CAM Group, IncDominic K. F. Chan & CoHong Kong
Camelot Information Systems Inc.Deloitte Touche Tohmatsu Certified Public Accountants LLPChina
Canadian Solar Inc.Deloitte Touche Tohmatsu Certified Public Accountants LLPChina
CAPITAL PRODUCT PARTNERS L.P.Deloitte Hadjipavlou,Sofianos, Cambanis SAGreece
Ceetop, Inc.Clement C.W. Chan & Co.Hong Kong
Central European Distribution CorpErnst & Young Audyt Polska spólka z ograniczona odpowiedzialnoscia sp. k.Poland
Central European Distribution CorporationPricewaterhouseCoopers Sp. z o.o.Poland
Changyou.com LtdPricewaterhouseCoopers Zhong Tian LLPChina
Charm Communications Inc.Deloitte Touche Tohmatsu Certified Public Accountants LLPChina
CHINA AUTOMOTIVE SYSTEMS INCPricewaterhouseCoopers Zhong Tian LLPChina
China BAK Battery, Inc.PKF (2013 Form 2)Hong Kong
China BAK Battery, Inc.Crowe Horwath (HK) CPA LimitedHong Kong
China Biologic Products, Inc.KPMGHong Kong
China Cablecom Holdings, Ltd.UHY Vocation HK CPA LimitedHong Kong
China Ceramics Co., Ltd.Grant ThorntonChina
China Cord Blood CorporationKPMGHong Kong
China Digital TV Holding Co., Ltd.Deloitte Touche Tohmatsu Certified Public Accountants LLPChina
China Distance Education Holdings LtdDeloitte Touche Tohmatsu Certified Public Accountants LLPChina
China Dredging Group Co., Ltd.UHY Vocation HK CPA Limited (2013 Form 2)Hong Kong
CHINA EASTERN AIRLINES CORP LTDPricewaterhouseCoopersHong Kong
China Education Alliance Inc.Albert Wong & Co.Hong Kong
China Energy Recovery, Inc.PricewaterhouseCoopers Zhong Tian LLPChina
China Enterprises LimitedCrowe Horwath (HK) CPA LimitedHong Kong
China Finance Online Co. LimitedGrant ThorntonChina
China Finance Online Co. LtdDeloitte Touche Tohmatsu Certified Public Accountants LLPChina
China Gengsheng Minerals, Inc.PKF (2013 Form 2)Hong Kong
China Gerui Advanced Materials Group LimitedUHY Vocation HK CPA LimitedHong Kong
China Hydroelectric CorpErnst & Young Hua Ming LLPChina
China Information Technology IncBDO LimitedHong Kong
China Internet Cafe Holdings Group, Inc.Albert Wong & Co.Hong Kong
China Kanghui HoldingsErnst & Young Hua Ming LLP (2013 Form 2)China
China Life Insurance Company LimitedPricewaterhouseCoopers (2013 Form 2)Hong Kong
China Lodging Group, LtdDeloitte Touche Tohmatsu Certified Public Accountants LLPChina
China Marine Food Group LimitedDahua CPA Co.,Ltd. (2013 Form 2)China
China Mass Media Corp.PricewaterhouseCoopers Zhong Tian LLP (2013 Form 2)China
China Media Group CorporationHKCMCPA Company LimitedHong Kong
CHINA METRO-RURAL HOLDINGS LtdPricewaterhouseCoopersHong Kong
China Ming Yang Wind Power Group LimitedKPMGHong Kong
China Mobile Games & Entertainment Group LtdErnst & Young Hua Ming LLPChina
China Mobile LimitedKPMG (2013 Form 2)Hong Kong
China Natural Resources IncErnst & YoungChina
China Nepstar Chain Drugstore LtdKPMGHong Kong
China Networks International Holdings Ltd.UHY Vocation HK CPA LimitedHong Kong
China New Borun CorporationBDO China Shu Lun Pan Certified Public Accountants LLPChina
China Nuokang Bio-Pharmaceutical Inc.Ernst & Young Hua Ming LLP (2013 Form 2)China
China Pediatric Pharmaceuticals, Inc.Clement C.W. Chan & Co.Hong Kong
China Petroleum & Chemical CorporationKPMGHong Kong
China Power Equipment, Inc.Mazars CPA LimitedHong Kong
China Precision Steel, Inc.Moore StephensHong Kong
China Printing & Packaging, IncClement C.W. Chan & Co. (2013 Form 2)Hong Kong
China Shianyun Group Corp., Ltd. (f/k/a China Green Creative, Inc.)Albert Wong & Co.Hong Kong
China Shouguan Mining CorporationHKCMCPA Company LimitedHong Kong
China Southern Airlines Co LtdKPMG (2013 Form 2)Hong Kong
China Sunergy Co., Ltd.Deloitte Touche Tohmatsu Certified Public Accountants LLPChina
China Techfaith Wireless Communication Technology LtdDeloitte Touche Tohmatsu Certified Public Accountants LLPChina
China Technology Development Group CorporationPricewaterhouseCoopers Zhong Tian LLP (2013 Form 2)China
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