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The latest update is out from Tian Ge Interactive Holdings ( (HK:1980) ).
Tian Ge Interactive Holdings plans to replace Deloitte Touche Tohmatsu as its independent auditor after Deloitte’s current term ends at the 2026 annual general meeting, following a proposed significant rise in audit fees that the board and audit committee consider unjustified given the company’s largely unchanged business scale and operational complexity. With the group still in a loss-making position and pursuing a strategy of global investment and incubation in online interactive entertainment, the board is prioritizing cost control and has proposed appointing Rongcheng (Hong Kong) CPA Limited as the new auditor, asserting there is no disagreement with Deloitte and that the change will not materially impact operations while serving the interests of shareholders.
The audit committee evaluated Rongcheng (Hong Kong) CPA Limited on factors including competence, industry knowledge, service quality, independence, and resourcing before recommending its appointment, and concluded the firm is suitable to act as the company’s new independent auditor. Both the board and the audit committee emphasize that the shift in auditors is driven by financial discipline in a tough market environment, rather than any dispute or governance concern, and is subject to shareholder approval by ordinary resolution at the upcoming annual general meeting.
More about Tian Ge Interactive Holdings
Tian Ge Interactive Holdings is a Cayman Islands-incorporated company listed in Hong Kong that operates online interactive entertainment platforms, including services such as Sila Chat. The group focuses on investing in and incubating online interactive entertainment businesses across various global regions, though it remains loss-making amid a challenging business environment and continued upfront investment costs.
Average Trading Volume: 868,963
Technical Sentiment Signal: Sell
Current Market Cap: HK$726.4M
See more insights into 1980 stock on TipRanks’ Stock Analysis page.