Graphjet Technology has announced a significant regulatory development concerning its financial reporting. The company has decided to re-audit and restate its financial statements for the year ended September 30, 2023, due to changes in its accounting policy. Previously audited by Adeptus Partners LLC, the restatement will now be conducted by Kreit & Chiu CPA, LLP, the company's current accounting firm responsible for the 2024 audit. Despite this restatement, Graphjet Technology is confident it will submit its Annual Report for the year ended September 2024 before the July 17, 2025 hearing with Nasdaq. Additionally, the company has made changes to its Audit Committee, appointing Chen Siow Woon and Ang Chee Yong as new members, following a re-evaluation of the treatment of intellectual property assignments related to its former Chief Science Officer, Mr. Liu.
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