STOCKS | Culturecom Explains Auditor Change After Fee Quote Revision

Culturecom (0343) provided further details on its May 22 announcement appointing Zhongzheng Tianheng as its auditor, according to Ming Pao. The company said its former auditor, Kadoorie CPA, resigned after the group took longer than expected to consider and accept Kadoorie’s original audit fee quote of HK$1.1 million for the 2026 audit and a revised quote of HK$1.3 million. Culturecom said temporary liquidity tightness at the listed-company level meant it could not pay the required HK$500,000 deposit before the original quote expired on April 30, and its liquidity remained constrained after receiving the revised quote on May 7.