HONG KONG, January 22, 2025 (GLOBE NEWSWIRE) —
Change of auditor
On January 22, 2025, Santech Holdings Limited (the Company) announced that its audit committee had approved the appointment of Audit Alliance LLP (Audit Alliance) as the independent registered public accounting firm of the Company. The Audit Committee has revoked Marcum Asia CPAs LLP (MarcumAsia) as a registered independent public accounting firm, effective November 15, 2024.
The Company’s decision to change auditors was due to significant changes in the direction and scale of the Company’s activities recently, as previously noted, and not as a result of any disagreement between the Company and MarcumAsia on any matter of accounting principles or practices, financial statement disclosure or the scope or procedures of auditing.
Audit services previously provided by MarcumAsia will be provided by Audit Alliance. Audit Alliance is a PCAOB registered CPA firm headquartered in Singapore.
Other events: Filing of the compliance plan with Nasdaq
Additionally, the Company announced that it has submitted a compliance plan to the Nasdaq Stock Market (Nasdaq) to support its request to extend the time necessary to reestablish compliance with Nasdaq’s continued listing requirements.
In its Nasdaq Compliance Plan, the Company sets out the plan and schedule to file its Annual Report on Form 20-F for the fiscal year ended June 30, 2024 and to update itself with its reporting requirements within the discretionary period of which says Nasdaq staff. to agree.
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 the fields of financial services and healthcare management, and has accumulated a large client base. The Company has exited or divested its legacy businesses in financial services and is actively exploring new 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 Private Securities Litigation Reform Act of 1995. These forward-looking statements may be identified by terminology such as anticipate, estimate, forecast, plan, project. , potential, continue, ongoing, expect, aim, believe, intend, may, should, will, is/are likely to, could and similar statements. 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. Further information regarding these and other risks is included in the Company’s filings with the SEC. All information provided in this press release is as of the date of this press release, and the Company undertakes no obligation to update any forward-looking statements, except as required by applicable law.
Investor and media contact:
Santech Holdings Limited
Email: ir@santechholdings.com
