HONG KONG, Jan. 22, 2025 (GLOBE NEWSWIRE) —
Change of Auditor
On January 22, 2025, Santech Holdings Limited (the Company) announced that the Audit Committee approved the appointment of Audit Alliance LLP (Audit Alliance) as the Company's registered public accounting firm. The Audit Committee has suspended Marcum Asia CPAs LLP (MarcumAsia) as its independent registered public accounting firm, effective November 15, 2024.
The Company's decision to change the auditor was due to a significant change in the Company's business focus and to the latest extent as previously stated, and not because of any disagreement between the Company and MarcumAsia on any matter of accounting policies or practices, financial statement disclosures, or the scope of the audit or procedures.
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: Nasdaq Compliance Plan Filing
In addition, 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 ongoing listing requirements.
In its Nasdaq compliance plan, the Company sets out the plan and timing to file an Annual Report on Form 20-F for the fiscal year ending June 30, 2024 and be current with its reporting requirements in a timely manner to Nasdaq staff. to give.
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 looking for new strategic opportunities in technology, including but not limited to new marketing, online trading and the metaverse. For more information, please visit https://ir.santechholdings.com.
Safe Harbor Report
This press release contains statements that may constitute forward-looking statements pursuant to the safe harbor provisions of the US Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as expectation, estimate, estimate, plan, project. , be, continue, run, expect, aim, believe, explain, can, will, y/might, can and similar expressions. Statements that are not historical facts, including the Company's beliefs, plans, and expectations, are forward-looking statements. Forward-looking statements involve risks and uncertainties. More information about 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 does not undertake any obligation to update any forward-looking statement, except as required under applicable law.
Investor and Media Contact:
Santech Holdings Limited Company
Email: ir@santechholdings.com