According to the Hong Kong Financial Reporting Council (FRC), on October 16, it announced sanctions against PricewaterhouseCoopers (PwC) and two of its partners, imposing a total fine of HK$1.6 million due to multiple audit deficiencies. The fines include HK$800,000 for PwC, HK$600,000 for partner Zheng Guang'an, and HK$200,000 for partner Jiang Lingyan. The FRC stated that during the audit work regarding revenue recognition for Dynasty Wines (00828) in the fiscal years 2010 and 2011, the auditor failed to obtain sufficient appropriate audit evidence for the group's recorded revenue, leading to the erroneous issuance of an unqualified opinion. In both years, the PwC project team, led by partner Zheng, and monitored by Jiang as the quality assurance reviewer, failed to identify the lack of sufficient appropriate audit evidence. A decision notice was issued to PwC, Zheng, and Jiang on February 20, 2025. Subsequently, on March 13, 2025, the regulatory body applied for a review of the decision with the Accounting and Financial Reporting Review Committee but later voluntarily withdrew the application and agreed to pay costs to the authority, making the decision notice effective immediately.