EDA Group to Appoint Zhonghui Anda as Auditor, Ending Six-Year Tenure of Ernst & Young

Bulletin Express05-29 18:23

EDA Group Holdings Limited (EDA) announced a planned auditor rotation, proposing Zhonghui Anda CPA Limited to succeed Ernst & Young (EY) following the 22 June 2026 annual general meeting (AGM).

EY has audited EDA since 2020 and will retire at the end of its current term. To reinforce auditor independence and align with corporate-governance best practice, EDA’s audit committee ran a competitive tender from April to May 2026. Evaluation criteria covered Stock Exchange experience, industry knowledge, technical competence, resource allocation, independence, fees and regulatory guidance.

After the review, the audit committee recommended non-reappointment of EY and the engagement of Zhonghui Anda. The board endorsed the recommendation, citing the benefits of a fresh audit perspective. The estimated audit fee for the financial year ending 31 December 2026 is HK$1.60 million, exclusive of out-of-pocket expenses. Fee sizing reflects the Group’s operations, complexity, risk profile and expected audit scope.

EDA confirmed there is no disagreement with EY, and EY has issued a Letter of Retirement stating that no matters need to be brought to shareholders’ attention. The board expressed appreciation for EY’s services over the past years.

Shareholders will vote on the appointment of Zhonghui Anda via an ordinary resolution at the AGM. A circular detailing the proposal will be published on the HKEX and company websites ahead of the meeting.

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