Impression Dahongpao Co., Ltd. (Stock Code: 2695) has approved a transition to the China Accounting Standards for Business Enterprises (CASBE) for its financial reporting. According to the announcement, the change will take effect starting with the company’s 2025 annual financial report. The decision is rooted in the substantial convergence between CASBE and Hong Kong Financial Reporting Standards as well as relevant Hong Kong Stock Exchange guidelines.

The board indicated that uniformly adopting CASBE will help enhance disclosure efficiency and simplify the financial preparation process without causing significant impacts on the company’s performance, financial results, or cash flows. It was noted that commencing in 2025, financial reports and related disclosures will be prepared solely under CASBE.

The announcement also confirms the discontinuation of a separate engagement of overseas financial reporting auditors. The domestic auditor, Grant Thornton Zhitong Certified Public Accountants LLP, has been recognized by the Ministry of Finance of the People’s Republic of China and the China Securities Regulatory Commission. It will assume all audit responsibilities, including those related to H share requirements. The board expressed gratitude to Grant Thornton Hong Kong Limited for assisting with the company’s H share issuance and listing, which was completed in December 2025.