Tianjin Construction Development Group Co., Ltd. (TJCD) disclosed that KPMG has resigned as the Company’s auditor with effect from 31 July 2026 after the two parties failed to agree on the audit fee for the financial year ending 31 December 2026. The Board stated that securing a more competitive fee aligns with TJCD’s cost-control objectives and the interests of shareholders.

Following a review of three alternative proposals, the Board—acting on the Audit Committee’s recommendation—plans to appoint Crowe (HK) CPA Limited as the new auditor for the 2026 financial year. Crowe’s quotation represents a 30%–40% reduction compared with KPMG’s fee proposal. The appointment will take effect upon approval by shareholders at an upcoming extraordinary general meeting and will run until the conclusion of the next annual general meeting.

TJCD confirmed that KPMG had not begun any audit work for FY2026, and both the Board and the Audit Committee expect the transition to have no material impact on the audit process. No disagreements or matters requiring shareholder attention were reported between TJCD and KPMG, and the Board expressed appreciation for KPMG’s past services.

A circular detailing the proposed appointment of Crowe (HK) CPA and the notice of the extraordinary general meeting will be dispatched to shareholders in due course.