WebX Holding Group Limited has confirmed the appointment of McMillan Woods as its new external auditor following the decision by incumbent LIF & Wong not to seek re-appointment after the 29 June 2026 annual general meeting.

The transition aligns with WebX’s strategy to broaden its investment portfolio beyond Hong Kong-listed blue-chip equities into a more international and diversified mix of jurisdictions and industries. To support this evolution, the Board—on Audit Committee recommendation—selected an audit firm with a global network and sector expertise.

Key considerations in selecting McMillan Woods:

• Audit Quality and Resources: McMillan Woods serves roughly 70 Hong Kong-listed companies and is part of a 3,200-strong network operating in over 70 jurisdictions. For WebX, it will deploy a four-member core team (each with more than 20 years’ experience) supported by additional staff, budgeting 164 audit hours.

• Technical Competence: The firm’s prior engagements with Chapter 21 investment companies (e.g., Cocoon Holdings and China Innovation Investment) demonstrate relevant industry knowledge.

• Fee Structure: The FY2026 engagement is priced at HK$0.30 million—identical to FY2025—though the mix shifts to HK$0.25 million for audit services and HK$0.05 million for non-audit work. The FY2025 audit by LIF & Wong allocated HK$0.23 million to audit work and HK$0.07 million to non-audit services.

• Audit Timetable: Planning begins mid-December 2026, fieldwork runs mid-January to early February 2027, key findings will be discussed by late February, results announced by mid-March, and the annual report released by end-April 2027.

• Independence and Governance: The change supports auditor rotation best practices, enhances perceived independence, and offers the potential for improved audit methodologies and insights.

The Audit Committee concluded that McMillan Woods is independent, competent, and capable of meeting WebX’s evolving audit requirements while maintaining audit quality at a market-comparable cost.