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Beijing SinoHytec Co., Ltd. Class H ( (HK:2402) ) has shared an update.
Beijing SinoHytec has provided additional details on its change of auditors following the resignation of BDO, which stemmed from disagreements over audit fees for the 2025 financial year amid an expanded audit scope and compressed timetable. In line with PRC rules on auditor appointment for state-owned and listed firms, the company carried out a public tender process and moved on from fee negotiations with BDO after it signalled a higher quotation.
After receiving proposals from other firms, Beijing SinoHytec’s audit committee evaluated Beijing Xinghua and Beijing Xinghua Caplegend on their experience with listed companies, independence, resources, and technical competence, ultimately approving their appointment on more favourable fee and resource terms. The committee also reviewed their governance structures, quality management systems, and ethical compliance under Chinese and HKICPA codes, concluding that both firms can safeguard audit quality and publish audited results on time, supporting ongoing regulatory compliance and stakeholder confidence.
More about Beijing SinoHytec Co., Ltd. Class H
Beijing SinoHytec Co., Ltd. is a joint stock company incorporated in the People’s Republic of China with its H shares listed on the Hong Kong Stock Exchange. The company operates under PRC and Hong Kong regulatory frameworks applicable to state-owned and listed enterprises, requiring strict compliance in areas such as auditor selection and financial reporting.
Average Trading Volume: 2,110,306
Technical Sentiment Signal: Sell
Current Market Cap: HK$6.83B
Learn more about 2402 stock on TipRanks’ Stock Analysis page.