Santech Holdings Limited Announces Change of Auditors and Submission of Nasdaq Compliance Plan By Investing.com
HONG KONG, January 22, 2025 (GLOBE NEWSWIRE) —
Change of auditor
On January 22, 2025, Santech Holdings Limited (the Company) announced that its Audit Committee has approved the appointment of Audit Alliance LLP (Audit Alliance) as the Company’s independent registered public accounting firm. The Audit Committee has terminated Marcum Asia CPAs LLP (MarcumAsia) as its independent registered public accounting firm, effective November 15, 2024.
The Company’s decision to change auditors was due to significant changes in the focus and scope of the Company’s operations recently, as previously disclosed, and not as a result of any disagreement between the Company and MarcumAsia on any matter of accounting principles or practices, publication of financial statements or scope or audit procedures.
Audit services previously provided by MarcumAsia will be provided by Audit Alliance. Audit Alliance is a PCAOB-registered CPA firm based in Singapore.
Other events: Filing of compliance plan with Nasdaq
In addition, the Company announced that it has filed a compliance plan with Nasdaq (Nasdaq) to support its request for an extension of time to re-align with Nasdaq continuous listing requirements.
In its Nasdaq compliance plan, the Company sets out the schedule and deadlines for filing its annual report on Form 20-F for the fiscal year ended June 30, 2024 and becomes updated with its reporting requirements within the discretionary period available to Nasdaq staff. approve.
About Santech Holdings Limited
Santech Holdings Limited (NASDAQ: STEC ) is a consumer-focused technology company. The company has historically served a large number of high net worth clients in China in financial services and healthcare management and has amassed a large client base. The company has exited or divested its historical businesses in financial services and is actively exploring innovative new opportunities in technology, including but not limited to new retail, social e-commerce and the metaverse. For more information, visit https://ir.santechholdings.com.
Safe harbor statement
This press release contains statements that may constitute forward-looking statements under the safe harbor provisions of the US Private Securities Litigation Reform Act of 1995. These forward-looking statements may be identified by terminology such as are forecast, estimate, predict, plan, project , potentially, continue, ongoing, expect, aim, believe, intend, may, should, will, is/probably will, could and similar statements. Statements that are not historical facts, including statements about the Company’s beliefs, plans and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. Further information about these and other risks is included in the Company’s filings with the SEC. All information contained in this press release is current as of the date of this press release, and the Company undertakes no obligation to update any forward-looking statement, except as required by applicable law.
Contact for investors and media:
Santech Holdings Limited
Email: ir@santechholdings.com
