Shenwan Hongyuan (HKG:0218) stock plummeted 5% on Tuesday, underperforming the broader Hong Kong market.
The sell-off came after the company announced that KPMG has resigned as its auditor effective Tuesday. Shenwan Hongyuan proposed to appoint Deloitte Touche Tohmatsu as its new auditor, subject to shareholder approval.
An auditor change, especially an abrupt resignation, can raise concerns among investors about potential accounting issues or lack of transparency at the company. The market reaction suggests investors are taking a cautious stance until more clarity emerges on the reasons behind the auditor switch.
免责声明：投资有风险，本文并非投资建议，以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请，作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考，不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证，投资者应自行研究并在投资前寻求专业建议。