Powerlong Commercial Management Auditor Steps Down Amid China Ban

MT Newswires Live09-03

Powerlong Commercial Management Holdings (HKG:9909) said its auditor, Elite Partners CPA, stepped down effective Tuesday following a ban by the Chinese Finance Ministry.

Due to regulatory violations, China's finance ministry banned Elite Partners from auditing mainland companies listed overseas for five years, according to a Tuesday disclosure.

Elite Partners' resignation will not impact the publication of Powerlong's annual results, the filing stated.

Price (HKD): $2.51, Change: $-0.070, Percent Change: -2.71%

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