Chiho Environmental Appoints Ernst & Young as New Forensic Investigator to Expedite Resumption Process

Bulletin Express07-16

Chiho Environmental Group Limited announced the replacement of its previous forensic investigator and internal control consultant with Ernst & Young Advisory Services Limited, effective 16 July 2026. The decision follows Hong Kong Stock Exchange queries on the draft and final reports submitted in March and May 2026, which cited investigatory limitations, notably non-cooperation from certain suspected perpetrators.

The newly engaged consultant will undertake a supplemental forensic review covering 1 January 2023–31 December 2024, followed by a comprehensive internal-control remediation program for selected major subsidiaries. The Board highlighted Ernst & Young’s stronger PRC presence, broader resources, and prior experience with listed-company investigations as key selection criteria.

Trading in Chiho Environmental’s shares has been suspended since 1 April 2025 and will remain halted until all resumption guidance requirements—including completion of the independent forensic investigation and demonstration of adequate internal controls—are met.

Further progress updates will be released as material developments arise. Shareholders and potential investors are advised to exercise caution when dealing in the company’s shares.

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