Champion Technology Holdings Limited (CHAMPION TECH) announced two material developments on 31 August 2026.
First, auditors have signalled a possible disclaimer of opinion on the Group’s financial statements for the year ended 30 June 2026, citing the loss-making position of a major subsidiary and heightened doubt over that entity’s ability to continue as a going concern. Management is still assessing the subsidiary’s performance, but currently expects a “more substantial” net loss versus FY 2025, driven largely by increasing difficulties in collecting trade receivables. The company intends to issue a formal profit warning once the financial impact is quantified.
Second, the placing agent for CHAMPION TECH’s proposed issuance of up to 84.02 million new shares under the existing general mandate has exercised its contractual right to terminate the placing agreement with immediate effect. The agent viewed the prospective audit disclaimer as a material adverse change in the Group’s financial position or outlook.
Shareholders and prospective investors have been advised by the Board to exercise caution when dealing in the company’s securities.
The announcement was authorised by Chairperson Ms. Wong Man Winny and issued in Hong Kong on 31 August 2026.