AB&B Bio-Tech CO., LTD. JS announced that Deloitte Touche Tohmatsu has resigned as auditor with immediate effect on 14 April 2026, prompting a formal process to appoint a replacement subject to shareholder approval.
Deloitte’s departure stems from concerns identified during the audit of AB&B Bio-Tech’s FY-2025 financial statements. Shortly after the August 2025 IPO, the company subscribed to investment funds totalling about HK$272.00 million, redeemed these holdings on 30 December 2025 for meagre returns, and reinvested in similar vehicles after year-end. In addition, consultancy fees amounting to approximately HK$36.00 million before 31 December 2025 and HK$22.00 million after that date were paid to consultants allegedly linked to entities involved in the fund transactions. Deloitte questioned the commercial substance and rationale of both the fund investments and related consultancy payments and recommended an independent forensic investigation.
The Audit Committee engaged external advisers for a phased review of the transactions but deferred a full forensic probe pending initial findings. Following the company’s decision to seek a new auditor, Deloitte concluded the professional relationship was “untenable” and resigned, noting it could not confirm whether other matters require shareholder attention as the 2025 audit remains incomplete.
AB&B Bio-Tech commits to finalising the 2025 audit and publishing its FY-2025 results once a new auditor is in place. Trading in the company’s H-shares has been suspended since 1 April 2026 and will remain halted until further notice. Additional announcements will be issued upon material developments.
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