Biosino Bio-Technology and Science Incorporation (Biosino Bio-Tech) has approved a shift from Hong Kong Financial Reporting Standards (HKFRSs) to China Accounting Standards for Business Enterprises (CASBE) for the preparation and disclosure of its financial accounting reports, effective from the 2026 interim results and interim report.

The board cites the “substantial convergence” between CASBE and HKFRSs and the company’s predominantly mainland-based operations as key reasons for the transition. Management expects the move to streamline audit procedures, lower reconciliation workload and enhance reporting efficiency, with no material impact anticipated on Biosino’s financial position, operating results or previously published financial information. In line with PRC regulations and the company’s articles of association, shareholder approval is not required for the change.

Concurrent with the accounting standards update, BDO Limited has resigned as Biosino’s international auditor, effective 25 June 2026, as its services are no longer necessary. BDO China Shu Lun Pan Certified Public Accountants LLP will remain as the sole PRC auditor. BDO Limited confirmed that there are no matters related to its resignation needing shareholder attention; both the board and the audit committee reported no disagreements or unresolved issues.

BDO Limited had not commenced audit work on the consolidated financial statements for the year ending 31 December 2026. The board and audit committee therefore expect no significant impact on the upcoming annual audit. Biosino’s directors expressed appreciation for BDO Limited’s professional services during its tenure.