Sunfonda Group Holdings Limited (01771) announced a change of auditor with effect from October 31, 2025. The board of directors reported that Ernst & Young (EY) resigned on that day following an inability to agree on the audit fees for the financial year ending December 31, 2025. According to EY’s resignation letter, there were no other circumstances that should be brought to shareholders’ or creditors’ attention. The board and the audit committee confirmed there are no unresolved matters with EY apart from the audit fees.

As of the announcement date, EY had not begun any audit work on the Group’s consolidated financial statements for the year ending December 31, 2025. The board stated that the change of auditor will not significantly affect the annual audit for the financial year. It expressed gratitude to EY for its professional services and support over the years.

Sunfonda Group appointed BDO Limited (BDO) as the new auditor effective the same day. The board and audit committee chose BDO after considering factors such as industry experience, independence, audit team capabilities, and audit fees. They concluded that BDO meets the Group’s requirements for the scope of the audit and the scale of its business, and that this change is in the overall interest of the company and its shareholders. The appointment will last until the conclusion of Sunfonda Group’s next annual general meeting. The board also officially welcomed BDO as the new auditor.