Montage Technology Co., Ltd. (MONTAGE TECH, 06809) announced that its Board approved the full adoption of the China Accounting Standards for Business Enterprises (PRC GAAP) for all financial reporting with effect from the 2025 annual report. The decision, taken at the 14th meeting of the third Board session on 9 March 2026, eliminates the current dual-reporting practice under both PRC GAAP and International Financial Reporting Standards.
The Board cited the substantial convergence between PRC GAAP and IFRS, along with a goal of streamlining disclosure procedures and improving reporting efficiency, as the primary drivers for the change. According to management, moving to a single accounting framework will not materially affect the Company’s operating results or financial position.
Concurrently, Montage Technology will discontinue the separate engagement of an overseas auditor. Ernst & Young had served as reporting accountant for the Company’s H-share IPO and Hong Kong Main Board listing completed on 9 February 2026; that mandate has ended. For the year ending 31 December 2025, Ernst & Young Hua Ming Accountants LLP—already appointed as domestic auditor—will assume responsibility for auditing both A-share and H-share financial statements under Mainland auditing standards. EY Hua Ming is recognized by China’s Ministry of Finance and the China Securities Regulatory Commission and meets Hong Kong Stock Exchange requirements as a Recognized PIE Auditor.
The Board’s Audit Committee endorsed the unified PRC GAAP adoption and the single-auditor arrangement, confirming that these measures uphold the accuracy and reliability of the Company’s financial disclosures without adverse impact on investors’ decision-making.
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