XUNZHONG (02597) announced that its current Hong Kong auditor, Ernst & Young, will retire as the company's auditor effective from the 2025 Sixth Extraordinary General Meeting and will not be re-elected.
The Board considered that Dahua Certified Public Accountants (Special General Partnership) has served as the company's Mainland China auditor since 2020. In view of the company's positive working relationship with Dahua and recognition of its professional competence, upon the recommendation of the Audit Committee, the Board resolved to propose appointing Dahua as the company's Hong Kong auditor for 2025.
The appointment will take effect upon Ernst & Young's retirement at the 2025 Sixth Extraordinary General Meeting and continue until the conclusion of the next annual general meeting. The Board also proposed authorizing it to determine audit fees based on actual business conditions and relevant standards.
The proposed change of auditor is subject to shareholder approval by ordinary resolution at the 2025 Sixth Extraordinary General Meeting.