BANK OF SUZHOU Cancels Renewal of Appointment of PwC as External Auditor for 2024

　　Following the announcement by a number of H-share and A-share listed companies that they will not renew their contracts with PricewaterhouseCoopers (PwC), the accounting firm implicated in EVERGRANDE (03333.HK) 0.000 (0.000%) 's fraudulent audit scandal, BANK OF SUZHOU(002966.SZ) +0.020 (+0.281%) also issued an announcement on the Shenzhen Stock Exchange (SZSE) today (24th) saying that it agreed to adjust the original arrangement for the renewal of the contract for the provision of audit services by PwC for 2024 to the provision of services such as the review of the interim financial report for 2024, after discussion with PwC, in view of the fact that its relevant recent matters have yet to be further verified, based on the prudence principle, and taking into consideration of the business needs of the bank, with the relevant service fee of RMB950,000.

　　BANK OF SUZHOU also simultaneously cancelled the reappointment resolution that was considered and approved at the 2023 AGM, and reopened the tender and recruitment work of the external auditor for 2024, according to the announcement.

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　　Various enterprises such as PETROCHINA (00857.HK) +0.040 (+0.568%) Short selling $123.82M; Ratio 20.913% , PICC GROUP (01339.HK) -0.010 (-0.391%) Short selling $4.36M; Ratio 12.919% , CHINA RAILWAY (00390.HK) +0.060 (+1.583%) Short selling $4.99M; Ratio 11.280% and CM BANK (03968.HK) -0.400 (-1.185%) Short selling $180.37M; Ratio 32.208% also announced earlier that they will no longer hire PwC or hire other accounting firms.

　　(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2024-07-24 16:25.) (A Shares quote is delayed for at least 15 mins.)