HONG KONG, January 22, 2025 (GLOBE NEWSWIRE) —
Auditor Change
On January 22, 2025, Santech Holdings Limited (the Company) announced that its Audit Committee approved the appointment of Audit Alliance LLP (Audit Alliance) as the Company’s independent registered public accounting firm. The Audit Committee terminated Marcum Asia CPAs LLP (MarcumAsia) as its independent registered public accounting firm, effective November 15, 2024.
The Company’s decision to change auditor was due to significant changes in the approaches and scale of the Company’s business recently, as previously disclosed, and not as a result of any disagreement between the Company and MarcumAsia on any matter of principle or accounting practices, financial statement disclosure or audit scope or procedures.
The audit services previously provided by MarcumAsia will be provided by Audit Alliance. Audit Alliance is a PCAOB registered public accounting firm based in Singapore.
Other events: Presentation of the compliance plan at Nasdaq
Additionally, the Company announced that it has submitted a compliance plan to the Nasdaq Stock Market (Nasdaq) to support its request for an extension of time to regain compliance with Nasdaq’s continued listing requirements.
In its compliance plan with Nasdaq, the Company sets forth the plan and schedule for filing its Annual Report on Form 20-F for the financial year ended June 30, 2024 and becoming current with its reporting requirement. within the discretionary period available to Nasdaq staff. grant.
About Santech Holdings Limited
Santech Holdings Limited (NASDAQ: STEC) is a consumer-focused technology company. Historically, the Company served a large number of high net worth clients in China in financial services and healthcare management, and amassed a large client base. The Company has exited or divested its historical businesses in financial services and is actively exploring new innovative opportunities in technology, including, but not limited to, new retail, social e-commerce and metaverse. For more information, visit https://ir.santechholdings.com.
Safe Harbor Statement
This press release contains statements that may constitute forward-looking statements within the meaning of the safe harbor provisions of the U.S. 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/is likely, 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. 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 undertakes no obligation to update any forward-looking statements, except as required by applicable law.
Contact with investors and media:
Santech Holdings Limited
Email: ir@santechholdings.com