China High Speed Transmission Shares Plunge Over 12% on Auditor Change and Delayed 2025 Results
Stock News
11 hours ago
China High Speed Transmission (00658) opened sharply lower by more than 12%. As of the time of writing, the stock was down 12.33%, trading at HK$1.99 with a turnover of HK$491,500. The decline follows the company's announcement proposing the removal of BDO as its auditor. Subject to the approval of the resolution, the company intends to appoint Pochin as the new auditor. According to the audit plan prepared by Pochin, the audit work for the company's 2025 financial statements may be completed by the end of May at the earliest. Consequently, the company will be unable to comply with listing rules to publish periodic financial information on schedule, and trading of its shares will be suspended starting April 1.
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