Hong Kong, January 22, 2025 (GLOBE NEWSWIRE) —
Change auditors
On 22 January 2025, Santech Holdings Limited (the Company) announced that its Audit Committee approved the appointment of Audit Alliance LLP (Audit Alliance) as the independent registered public accounting firm for the Company. The Audit Committee has disassociated Marcum Asia CPAs LLP (MarcumAsia) as an independent registered public accounting firm, effective November 15, 2024.
The Company’s decision to change auditor is due to significant changes in the Company’s recent business focus and size as previously disclosed, and is not a result of any disagreement between the Company and MarcumAsia regarding any matter relating to accounting principles or practices, financial statement disclosure, or the scope or procedures of the audit.
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: Submission of compliance plan to Nasdaq
Additionally, the Company announced that it has submitted a compliance plan to the Nasdaq Stock Market (Nasdaq) in support of its request for an extension of time to regain compliance with Nasdaq’s continued listing requirements.
In its compliance plan to Nasdaq, the Company sets forth the plan and schedule for filing its annual report on Form 20-F for the fiscal year ending June 30, 2024 and becomes current with the reporting requirements within the discretionary period available to Nasdaq employees. To grant.
About Santec 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 health management, and has accumulated a large client base. The Company has exited or divested its historical financial services businesses and is actively exploring new and innovative opportunities in technology, including but not limited to new retail, social e-commerce and the Metaverse. For more information, please visit https://ir.santechholdings.com.
Safe Harbor Statement
This press release contains statements that may constitute forward-looking statements pursuant to the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terms such as anticipate, estimate, forecast, plan and project. , likely, ongoing, ongoing, expects, aims, believes, intends, may, should, will, likely, could, and similar expressions. Statements that are not historical facts, including statements regarding the Company’s beliefs, plans and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. More information regarding these and other risks is included in the Company’s filings with the Securities and Exchange Commission. All information provided in this news release is as of the date of this news release, and the Company undertakes no obligation to update any forward-looking statement, except as required by applicable law.
Contacting investors and media:
SANTICH HOLDINGS LIMITED
Email: [email protected]
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