Sunho Biologics, Inc. announced a further postponement of its FY2025 annual results, citing unresolved audit procedures linked to a series of service agreements and related upfront payments.
The company’s external auditor is still examining documentation concerning four service contracts signed by wholly owned unit Sunho (HK) Limited in the second half of 2025. The agreements—covering strategic planning, business development, and corporate financing advisory—required upfront payments totaling US$15.30 million.
Management has since terminated all four contracts and secured a full refund of the upfront payments. While the board believes the episode has had no material adverse impact on operations or financial condition, it has mandated two separate reviews: 1) an independent advisor is conducting agreed-upon procedures focused on the terminated agreements; 2) an independent internal-control consultant is performing a comprehensive assessment of the group’s governance systems.
Sunho Biologics expects to publish audited FY2025 results by 30 April 2026, subject to completion of the outstanding audit work. Until then, the board has declined to release unaudited management accounts, arguing such disclosure could mislead investors.
Trading in the company’s shares has been suspended since 1 April 2026 and will remain halted until the audited results are released. Shareholders and potential investors are urged to exercise caution when dealing in the company’s securities.
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