| Ernst & Young | 12-Nov-25 | | | The Company and Ernst & Young could not reach a consensus on the audit fee. Following the disposal of the Group's CDMO assets in Hangzhou in the second half of 2026, which significantly reduced the scale of operations and headcount, the Group implemented cost control measures and sought a downward adjustment in the audit fee. Ernst & Young maintained its original fee quotation, leading to the proposal to remove Ernst & Young and appoint HLB Hodgson Impey Cheng Limited to align audit costs with the Group's streamlined operations. EY has confirmed that, as at the date of this announcement, except that they did not express an opinion on the consolidated financial statements for the year ended December 31, 2025, because they were not able to obtain sufficient appropriate audit evidence to assess the appropriateness of the directors’ use of the going concern basis of accounting, there are no matters in connection with the Proposed Removal that need to be brought to the attention of the Shareholders. |
