According to the Zhitong Finance App, Geli Pharmaceutical-B (01672) announced that since the company failed to reach an agreement with Ernst & Young on the proposed audit fee for the year ending December 31, 2023, Ernst & Young will not renew the company's auditor. Therefore, Ernst & Young will not seek re-election as the company's auditor at the company's annual shareholders' meeting to be held on June 29, 2023. Ernst & Young will retire as corporate auditor at the current Annual General Meeting of Shareholders at the end of its current term of office.

According to the recommendations of the Company Audit Committee, the board of directors has decided to recommend the appointment of KPMG as the company's new auditor, which will take effect immediately after Ernst & Young resigns at the end of the annual general meeting of shareholders. The proposal must be approved by the company's shareholders at the annual general meeting before it can be implemented.