HIGHWAY HOLDINGS APPOINTS MARCUM ASIA AS NEW AUDITOR
Highway Holdings (Nasdaq: HIHO) has appointed Marcum Asia CPAs LLP as its new independent auditor, replacing Hong Kong-based ARK Pro CPA & Co. The change is effective immediately and comes with no disagreements with the previous auditor on accounting principles, practices, or procedures.
The appointment, approved by the audit committee and board of directors, is part of the company's strategy to upgrade corporate standards in preparation for generational transition and future growth. The company conducted a comprehensive selection process to ensure high-quality professional service.
This change follows a recent comprehensive restructuring of Highway Holdings' Board of Directors, which included the addition of four new directors with expertise in multinational business, finance, manufacturing, entrepreneurship, strategy, and M&A.
Highway Holdings (Nasdaq: HIHO) ha nominato Marcum Asia CPAs LLP come nuovo revisore indipendente, sostituendo ARK Pro CPA & Co., con sede a Hong Kong. Il cambiamento è immediatamente efficace e non ci sono stati disaccordi con il revisore precedente riguardo ai principi, alle pratiche o alle procedure contabili.
La nomina, approvata dal comitato di revisione e dal consiglio di amministrazione, fa parte della strategia dell'azienda per migliorare gli standard aziendali in preparazione alla transizione generazionale e alla crescita futura. L'azienda ha condotto un processo di selezione completo per garantire un servizio professionale di alta qualità.
Questo cambiamento segue una recente ristrutturazione completa del Consiglio di Amministrazione di Highway Holdings, che ha incluso l'aggiunta di quattro nuovi direttori con competenze in affari multinazionali, finanza, produzione, imprenditorialità, strategia e fusioni e acquisizioni.
Highway Holdings (Nasdaq: HIHO) ha nombrado a Marcum Asia CPAs LLP como su nuevo auditor independiente, reemplazando a ARK Pro CPA & Co., con sede en Hong Kong. El cambio es efectivo de inmediato y no hay desacuerdos con el auditor anterior sobre principios, prácticas o procedimientos contables.
La designación, aprobada por el comité de auditoría y la junta directiva, forma parte de la estrategia de la empresa para mejorar los estándares corporativos en preparación para la transición generacional y el crecimiento futuro. La empresa llevó a cabo un proceso de selección integral para asegurar un servicio profesional de alta calidad.
Este cambio sigue a una reciente reestructuración integral de la Junta Directiva de Highway Holdings, que incluyó la adición de cuatro nuevos directores con experiencia en negocios multinacionales, finanzas, manufactura, emprendimiento, estrategia y fusiones y adquisiciones.
하이웨이 홀딩스 (Nasdaq: HIHO)는 새로운 독립 감사인으로 마컴 아시아 CPAs LLP를 임명하며, 홍콩에 본사를 둔 ARK Pro CPA & Co.를 대체했습니다. 이 변경은 즉시 효력이 발생하며, 이전 감사인과 회계 원칙, 관행 또는 절차에 대한 이견은 없습니다.
감사위원회와 이사회의 승인을 받은 이번 임명은 세대 교체와 미래 성장을 준비하기 위한 회사의 전략의 일환입니다. 회사는 높은 품질의 전문 서비스를 보장하기 위해 포괄적인 선정 과정을 진행했습니다.
이번 변화는 하이웨이 홀딩스 이사회의 최근 포괄적인 구조조정에 이어 이루어졌으며, 다국적 비즈니스, 금융, 제조, 기업가 정신, 전략 및 인수합병 분야의 전문성을 가진 네 명의 신규 이사가 추가되었습니다.
Highway Holdings (Nasdaq: HIHO) a nommé Marcum Asia CPAs LLP comme son nouvel auditeur indépendant, remplaçant ARK Pro CPA & Co., basé à Hong Kong. Le changement prend effet immédiatement et il n'y a eu aucun désaccord avec l'auditeur précédent sur les principes, pratiques ou procédures comptables.
La nomination, approuvée par le comité d'audit et le conseil d'administration, fait partie de la stratégie de l'entreprise pour améliorer les normes d'entreprise en préparation de la transition générationnelle et de la croissance future. L'entreprise a mené un processus de sélection complet pour garantir un service professionnel de haute qualité.
Ce changement fait suite à une récente restructuration complète du conseil d'administration de Highway Holdings, qui a inclus l'ajout de quatre nouveaux administrateurs ayant une expertise dans les affaires multinationales, la finance, la fabrication, l'entrepreneuriat, la stratégie et les fusions et acquisitions.
Highway Holdings (Nasdaq: HIHO) hat Marcum Asia CPAs LLP als neuen unabhängigen Prüfer ernannt und ersetzt damit ARK Pro CPA & Co., ansässig in Hongkong. Die Änderung tritt sofort in Kraft und es gab keine Meinungsverschiedenheiten mit dem vorherigen Prüfer bezüglich der Rechnungslegungsgrundsätze, -praktiken oder -verfahren.
Die Ernennung, die vom Prüfungsausschuss und dem Vorstand genehmigt wurde, ist Teil der Unternehmensstrategie zur Verbesserung der Unternehmensstandards im Hinblick auf den Generationswechsel und zukünftiges Wachstum. Das Unternehmen führte einen umfassenden Auswahlprozess durch, um einen hochwertigen professionellen Service sicherzustellen.
Diese Änderung folgt einer kürzlichen umfassenden Umstrukturierung des Vorstands von Highway Holdings, die die Hinzufügung von vier neuen Direktoren mit Fachkenntnissen in multinationalen Geschäften, Finanzen, Fertigung, Unternehmertum, Strategie und Fusionen und Übernahmen umfasste.
- Board strengthened with four new directors bringing diverse expertise
- Strategic upgrade of corporate standards for future growth
- No adverse opinions or disagreements with previous auditor
- Enhanced financial reporting with international auditor
- None.
This appointment follows a comprehensive selection process, during which Highway Holdings evaluated several leading audit firms to ensure the highest level of professional service and expertise. The Company had no disagreements with ARK, whether or not resolved, on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure, which, if not resolved to the satisfaction of ARK, would have caused it to make reference to the subject matter of the disagreement in connection with its report. No report of ARK on the financial statements of the Company for the past two fiscal years contained an adverse opinion or disclaimer of opinion or was modified as to audit scope or accounting principles.
This decision was adopted by the audit committee and ratified by the board of directors of the Company.
Marcum Asia, a respected international accounting and advisory firm, will now be responsible for auditing Highway Holdings' financial statements and reporting processes. With a strong track record in providing high-quality audit and assurance services, Marcum Asia's team of experienced professionals will work closely with Highway Holdings to ensure compliance with applicable regulations and best practices in financial reporting.
"We are excited to welcome Marcum Asia as our new auditor as part of the company's ongoing professional upgrading of corporate standards in preparation for an upcoming generational transition, higher future growth and increased shareholder value," said Roland Kohl, CEO and Chairman of Highway Holdings. "Their extensive experience and international presence make them the perfect partner to support our financial reporting processes and contribute to the continued growth and success of our company."
"We are honored to have been selected by Highway Holdings as their independent auditor," said Joy Pan, CPA and Senior Partner at Marcum Asia. "We look forward to working with their leadership team to further strengthen their financial reporting processes and support their continued success."
Today's appointment follows a comprehensive restructuring and rejuvenation of Highway Holdings' Board of Directors to align with supporting its long-term growth strategy. With the restructuring, four new directors joined Highway Holdings bringing a wealth of experience in multinational business environments, with expertise in finance, manufacturing, entrepreneurship, strategy and M&A.
About Marcum Asia
Marcum Asia CPAs LLP ("Marcum Asia") is a global network of independent accounting and advisory firms, specializing in audit, tax, and advisory services. With a focus on cross-border and international businesses, Marcum Asia delivers tailored solutions to help clients navigate complex financial environments and achieve long-term success. For more information visit www.marcumasia.com.
About Highway Holdings
Highway Holdings is an international manufacturer of a wide variety of quality parts and products for blue chip equipment manufacturers based primarily in Germany. Highway Holdings' administrative offices are located in
Except for the historical information contained herein, the matters discussed in this press release are forward-looking statements, which involve risks and uncertainties, including but not limited to economic, competitive, governmental, political and technological factors affecting the company's revenues, operations, markets, products and prices, and other factors discussed in the company's various filings with the Securities and Exchange Commission, including without limitation, the company's annual reports on Form 20-F.
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SOURCE Highway Holdings Limited
FAQ
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