Haichang Hldg announced that, due to the failure to reach an agreement on the audit fees for the fiscal year 2024, Ernst & Young has resigned as auditor, effective from December 6, 2024. Ernst & Young confirmed that the resignation does not require any matters to be brought to the attention of shareholders or creditors, and that they have not begun the audit work for the 2024 earnings reports, expecting that the change of auditor will not have a significant impact on the annual audit. The board of directors appreciates Ernst & Young's past professional services. To fill the vacancy left by Ernst & Young's resignation, KPMG has been appointed as the new auditor, effective from December 6, 2024, with a term ending at the conclusion of the...Show More

Haichang Hldg announced that, due to the failure to reach an agreement on the audit fees for the fiscal year 2024, Ernst & Young has resigned as auditor, effective from December 6, 2024. Ernst & Young confirmed that the resignation does not require any matters to be brought to the attention of shareholders or creditors, and that they have not begun the audit work for the 2024 earnings reports, expecting that the change of auditor will not have a significant impact on the annual audit. The board of directors appreciates Ernst & Young's past professional services. To fill the vacancy left by Ernst & Young's resignation, KPMG has been appointed as the new auditor, effective from December 6, 2024, with a term ending at the conclusion of the next annual general meeting of shareholders. The audit committee considered several factors in assessing KPMG, including fees, audit experience, independence, and market reputation, and concluded that KPMG possesses the necessary independence and capabilities. The board of directors and the audit committee believe that changing the auditor will improve the cost-effectiveness of the audit work, which aligns with the overall interests of the company and shareholders. The board of directors warmly welcomes KPMG's addition.