Summary by Futu AI
CPC International Integrated Circuit Manufacturing Co., Ltd. (abbreviated as “SME International”) announced on 9 May 2024 that it will renew the financial reporting auditor for the year 2024, respectively. EY WILL BE RESPONSIBLE FOR AUDITING THE FINANCIAL STATEMENTS OF THE CHINESE CORPORATE ACCOUNTING STANDARDS, WHILE EY HONG KONG WILL BE RESPONSIBLE FOR THE AUDIT OF THE FINANCIAL STATEMENTS OF THE INTERNATIONAL FINANCIAL REPORTING CRITERIA. In addition, SME plans to launch a hedging business in 2024 to reduce foreign exchange and interest rate risks and enhance financial stability. The portfolio value business does not exceed 50% of the company's audited net assets in 2023. The Board of Directors adopted the relevant motion on the same day and will be submitted for consideration at the 2024 Annual General Meeting. At the same time, SME International also announced the re-election of its directors, of which four Category II directors will retire at the Annual General Meeting, and Dr. Liu Junfeng, Dr. Chan Shanchi and Dr. Fan Renda are willing to be re-elected for a second term.