Shanghai Electric Group (02727.HK) announced that due to further verification of recent related market issues, the board of directors has approved the cancellation of the proposal to submit to the annual general meeting of shareholders and to reappoint PricewaterhouseCoopers Zhong Tian Certified Public Accountants Ltd. as the auditors. PwC Zhong Tian Certified Public Accountants Ltd. (special general partnership) has confirmed to the company that there is no matter that needs to be brought to the attention of shareholders.
PricewaterhouseCoopers is known as PwC in Hong Kong and has lost many Mainland Chinese corporate clients recently due to its involvement in accounting affairs of Evergrande Group. (cy/k)
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