• Phoenitron Holdings announced supplemental details on the recent auditor change, confirming Moore CPA resigned on 30 December 2025 and GSHK was appointed the next day to fill the resulting vacancy, pending shareholder approval at the next annual general meeting.
• Moore CPA’s resignation followed a fee proposal of HK$2.30 million—about three times the prior-year charge—submitted on 19 December 2025. The firm also cited incomplete internal acceptance information and limited resources as additional reasons for stepping down.
• GSHK’s competing bid was HK$1.75 million, approximately 24% lower than Moore CPA’s quotation. The Audit Committee highlighted GSHK’s stronger e-commerce and AI audit experience, dedicated in-house IT specialists and a risk-based audit plan as key factors in its recommendation.
• Timeline: – Early Sep–mid-Dec 2025: discussions with Moore CPA; parallel enquiry with GSHK. – 19 Dec 2025: receipt of both fee proposals. – 24 Dec 2025: Audit Committee interviews both firms; Moore CPA indicates intention to resign. – 30 Dec 2025: formal resignation by Moore CPA; Board approves GSHK appointment. – 31 Dec 2025: original change-of-auditor announcement issued.
• GSHK has already begun interim procedures and targets completion of the FY2025 audit by March 2026, aligning with the company’s reporting schedule.
• The Board and Audit Committee both affirm that GSHK possesses the necessary independence, resources and technical competence, particularly in auditing the Group’s expanding e-commerce and AI operations, and view the appointment as serving the best interests of shareholders.
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