Capital Environment Holdings Ltd. announced a proposed change of auditor due to regulatory requirements pertaining to the audit services for state-owned enterprises. The current auditor, Ernst & Young, will retire following the company's upcoming annual general meeting, as they have reached the maximum number of consecutive years allowed to serve under regulations set by China's Ministry of Finance and the State-owned Assets Supervision and Administration Commission. The company, a subsidiary of state-owned Beijing Capital Group Co., Ltd., is transitioning auditors to enhance independence and uphold strong corporate governance practices.
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