China High Speed Transmission Seeks Shareholder Vote to Replace Disputed Auditor

China High Speed Transmission Equipment Group Co ( (HK:0658) ) has issued an announcement.

China High Speed Transmission has moved to resolve an escalating dispute over its 2025 audit by proposing the removal of HLB Hodgson Impey Cheng as auditor and the appointment of Prism Hong Kong, subject to shareholder approval at an extraordinary general meeting. The change follows the earlier rejection of Baker Tilly’s reappointment and strong opposition from controlling shareholder Fullshare, which questioned the validity of HLB Hodgson’s appointment and prefers Prism, prompting the board and audit committee to act to reduce legal and governance risks, even as some directors and committee members dissent.

The company warns that if HLB Hodgson’s appointment were ultimately deemed invalid, any audit report it issued on the 2025 financial statements could also be invalid, potentially exposing all shareholders to significant risk. HLB Hodgson has refused to resign or provide a clearance letter, so the board is relying on a formal removal process under Hong Kong listing rules, a step that underscores internal tensions and raises near‑term uncertainty over the timing and integrity of the group’s audited results.

The most recent analyst rating on (HK:0658) stock is a Sell with a HK$1.50 price target. To see the full list of analyst forecasts on China High Speed Transmission Equipment Group Co stock, see the HK:0658 Stock Forecast page.

More about China High Speed Transmission Equipment Group Co

China High Speed Transmission Equipment Group Co., Ltd., incorporated in the Cayman Islands and listed in Hong Kong, operates in the industrial equipment sector. The group focuses on transmission equipment and related engineering solutions, serving customers that require high‑performance mechanical and power transmission systems in China and abroad.

Average Trading Volume: 1,066,551

Technical Sentiment Signal: Sell

Current Market Cap: HK$3.78B

For detailed information about 0658 stock, go to TipRanks’ Stock Analysis page.