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The latest announcement is out from International Genius Company ( (HK:0033) ).
International Genius Company has announced further details on the delay of its audited annual results for the year ended 30 June 2025 and confirmed that trading in its shares will remain suspended, after its auditor raised serious concerns over a recent acquisition. The company’s auditor, CCTH CPA Limited, received anonymous emails alleging that the acquisition of Deep Neural Computing Company Limited involved inflated valuation, sham service contracts and possible misappropriation of assets, and separately identified discrepancies in reported revenues and potential misapplication of accounting standards that may require prior-year adjustments. In response, the board, at the auditor’s written request, has set up an independent committee to oversee an Independent Investigation into the transaction’s valuation, the authenticity of DNCC’s contracts and revenues, and any diversion of benefits, alongside an Internal Control Review focusing on revenue recognition, high-risk transactions, governance effectiveness and the integrity of public disclosures, steps that could have material implications for the company’s financial statements and corporate governance standing.
The most recent analyst rating on (HK:0033) stock is a Hold with a HK$0.50 price target. To see the full list of analyst forecasts on International Genius Company stock, see the HK:0033 Stock Forecast page.
More about International Genius Company
Technical Sentiment Signal: Strong Sell
Current Market Cap: HK$223.3M
Learn more about 0033 stock on TipRanks’ Stock Analysis page.