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Chongqing Machinery & Electric Co. Ltd. Class H ( (HK:2722) ) has provided an announcement.
Chongqing Machinery & Electric Co., Ltd. has announced a planned change of auditor driven by Chongqing municipal regulations that cap financial settlement audit engagements for state-owned enterprises at eight consecutive years. ShineWing Certified Public Accountants will complete its final mandate with the audit of the company’s 2025 financial year, and both the board and the audit committee report no disagreements or issues requiring shareholder or creditor attention.
To ensure continuity and regulatory compliance, the board, acting on the audit committee’s recommendation, has approved the appointment of Zhongshen Zhonghuan as domestic financial and internal control auditor and ZSZH (HK) Fuson CPA as overseas auditor for a one-year term from 2026, subject to shareholder approval at the 2025 AGM. The selection was based on factors including fees, qualifications, industry experience, staffing, quality controls, independence, communication mechanisms, and adherence to AFRC guidance, with the company expecting no material impact on the 2026 consolidated audit.
The most recent analyst rating on (HK:2722) stock is a Buy with a HK$3.00 price target. To see the full list of analyst forecasts on Chongqing Machinery & Electric Co. Ltd. Class H stock, see the HK:2722 Stock Forecast page.
More about Chongqing Machinery & Electric Co. Ltd. Class H
Chongqing Machinery & Electric Co., Ltd. is a mainland China-based industrial group listed in Hong Kong that operates in the machinery and electrical equipment sector. The company, together with its subsidiaries, focuses on manufacturing and engineering businesses that serve domestic and overseas markets, positioning it among municipal state-owned enterprises overseen by Chongqing SASAC.
Average Trading Volume: 23,140,704
Technical Sentiment Signal: Buy
Current Market Cap: HK$9.76B
See more data about 2722 stock on TipRanks’ Stock Analysis page.