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Mega Genomics Limited ( (HK:6667) ) has issued an announcement.
Mega Genomics has disclosed that its former auditor, Ernst & Young, raised concerns during the 2024 audit over revenue recognition in its genetic testing kits business, as well as the treatment of promotion expenses and prepayments. After failing to agree on additional audit time and costs, the company dismissed Ernst & Young, appointed Crowe (HK) CPA Limited as its new auditor in July 2025, and suspended trading in its shares from April 2025 while it addressed these issues.
In response to the audit concerns, the board established an investigation committee, engaged professional advisers, and initiated an independent forensic investigation and internal control review to resolve accounting irregularities and fulfil resumption guidance from the Hong Kong Stock Exchange. The remedial measures and completed reviews have paved the way for the company to meet all resumption conditions, setting the stage for the resumption of trading and aiming to restore investor confidence and regulatory compliance after prolonged delays in financial reporting.
More about Mega Genomics Limited
Mega Genomics Limited is a Cayman Islands–incorporated company listed in Hong Kong that operates in the genetic testing sector, with a core focus on revenue from genetic testing kits. The group provides genomics-related products and services and is subject to Hong Kong’s Listing Rules and securities regulations as it targets the broader healthcare and biotechnology market.
Technical Sentiment Signal: Sell
Current Market Cap: HK$1.61B
For detailed information about 6667 stock, go to TipRanks’ Stock Analysis page.