Eternal Beauty auditor PwC quits over HKD 70 million upfront payments probe

Reuters

Mar 16

Eternal Beauty auditor PwC quits over HKD 70 million upfront payments probe

Eternal Beauty said PwC resigned as its auditor, effective March 16, 2026, after the board requested the resignation. The company said PwC was unable to commit to a timetable for additional audit procedures related to HKD 70 million in upfront payments to three service providers following the IPO. Eternal Beauty said it did not accept PwC’s proposed additional audit fee tied to this work. The board appointed RSM Hong Kong as the new auditor, effective March 16, 2026, to fill the vacancy until the next AGM. The company said an independent investigation into the payments is ongoing under a committee of independent non-executive directors.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Eternal Beauty Holdings Ltd. published the original content used to generate this news brief via IIS, the Issuer Information Service operated by the Hong Kong Stock Exchange (HKex) (Ref. ID: HKEX-EPS-20260316-12054438), on March 16, 2026, and is solely responsible for the information contained therein.

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The company said PwC was unable to commit to a timetable for additional audit procedures related to HKD 70 million in upfront payments to three service providers following the IPO. Eternal Beauty said it did not accept PwC’s proposed additional audit fee tied to this work. The board appointed RSM Hong Kong as the new auditor, effective March 16, 2026, to fill the vacancy until the next AGM. The company said an independent investigation into the payments is ongoing under a committee of independent non-executive directors.Disclaimer: This news brief was created by Public Technologies  using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Eternal Beauty Holdings Ltd. published the original c","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"06883":"颖通控股"},"translate_title":"永恒之美审计师普华永道退出7000万港元预付款调查","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"06883":0.9},"content_text":"Eternal Beauty auditor PwC quits over HKD 70 million upfront payments probe\n    \n\n        Eternal Beauty said PwC resigned as its auditor, effective March 16, 2026, after the board requested the resignation. The company said PwC was unable to commit to a timetable for additional audit procedures related to HKD 70 million in upfront payments to three service providers following the IPO. Eternal Beauty said it did not accept PwC’s proposed additional audit fee tied to this work. The board appointed RSM Hong Kong as the new auditor, effective March 16, 2026, to fill the vacancy until the next AGM. 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