SH IND URBAN (00563) Intends to Appoint Ernst & Young as New Auditor

Stock News

Oct 10, 2025

SH IND URBAN (00563) announced that in accordance with relevant regulations issued by China's Ministry of Finance, the State-owned Assets Supervision and Administration Commission of the State Council, and the China Securities Regulatory Commission, audit services are subject to tenure limits, and auditors must rotate after providing audit services for the prescribed period. Given that the company has continuously engaged Deloitte Touche Tohmatsu (Deloitte) for the maximum allowable duration, the company has informed Deloitte of the auditor rotation requirements. After careful consideration, Deloitte believes that the board's decision to appoint a successor auditor has made it difficult to maintain the professional relationship between Deloitte and the company. Therefore, Deloitte has decided to resign as the company's auditor, effective October 10, 2025. The board further announces that, upon recommendation from the company's audit committee, the board has resolved to appoint Ernst & Young as the company's new auditor to fill the interim vacancy following Deloitte's resignation. Ernst & Young will serve until the conclusion of the company's next annual general meeting.

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Given that the company has continuously engaged Deloitte Touche Tohmatsu (Deloitte) for the maximum allowable duration, the company has informed Deloitte of the auditor rotation requirements. After careful consideration, Deloitte believes that the board's decision to appoint a successor auditor has made it difficult to maintain the professional relationship between Deloitte and the company. Therefore, Deloitte has decided to resign as the company's auditor, effective October 10, 2025. The board further announces that, upon recommendation from the company's audit committee, the board has resolved to appoint Ernst & Young as the company's new auditor to fill the interim vacancy following Deloitte's resignation. 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