SH IND URBAN plans to appoint Ernst & Young as the new auditor
SH IND URBAN announced the appointment of Ernst & Young as the new auditor, replacing Deloitte, which has resigned. According to relevant regulations, audit services must be rotated regularly. Deloitte decided to resign due to reaching the term limit for consecutive service, effective from October 10, 2025. Ernst & Young will serve as the new auditor until the conclusion of the next annual general meeting of shareholders
According to the announcement from SH IND URBAN (00563), the company stated that, in accordance with the relevant regulations issued by the Ministry of Finance of China, the State-owned Assets Supervision and Administration Commission of the State Council, and the China Securities Regulatory Commission, there is a time limit for audit services, and auditors must be rotated once the specified term is reached. Given that the company has continuously appointed Deloitte Touche Tohmatsu Certified Public Accountants (Deloitte) for the specified term, the company has notified Deloitte regarding the requirement to change auditors. After careful consideration, Deloitte believes that the board's decision to appoint a successor auditor has made it difficult for Deloitte to maintain its professional relationship with the company. Therefore, Deloitte has decided to resign as the company's auditor, effective from October 10, 2025.
The board further announced that, based on the recommendation of the company's audit committee, the board has resolved to appoint Ernst & Young (EY) as the new auditor of the company to fill the temporary vacancy left by Deloitte's resignation. EY will serve until the conclusion of the company's next annual general meeting
