China Rare Earth Holdings Limited has announced a change of auditor following ongoing investigations into past management practices. The company revealed that its audit committee received a resignation letter from its auditor, Ascenda Cachet CPA Limited, amid an independent investigation into possible misappropriation of assets and deficiencies in internal controls at its subsidiaries under previous management. The board stated that the investigation is ongoing and further updates will be provided in due course. The company has appointed Cheng Cheng as its new auditor and reaffirmed its commitment to resolving the legacy issues.

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