C TRANSMISSION(00658.HK): Further Independent Investigation Launched, Grant Thornton Appointed as Forensic Advisor

NewTimeSpace News: China High Speed Transmission Equipment Group Co., Ltd. (00658.HK) released an inside information announcement on June 10, 2026, disclosing updates regarding the independent investigation.
Following the initial review of FTI Consulting's final report and the previously published summary of investigation findings by the current Board and auditor BDO, BDO drew the Board's attention to several issues. Certain materials cited in FTI Consulting's final report appeared to be sourced from anonymous parties, and relevant data and documents might not have been independently verified. In addition, the previous independent investigation was subject to multiple limitations, including restricted access to complete books and records, and insufficient cooperation from certain key third parties and former employees.
In view of the above, the current Board holds that FTI Consulting's final report cannot fully and accurately present the nature, background and causes of the relevant agreements and associated funds, nor clarify the roles and liabilities of relevant individuals and entities. Accordingly, the Board resolved to conduct a further independent investigation.
Comprising all three independent non-executive Directors, the Independent Investigation Committee has been granted authority by the Board to supervise the follow-up investigation. Grant Thornton Certified Public Accountants (Special General Partnership) has been engaged as an independent third-party forensic advisor and will report directly to the Independent Investigation Committee.
The Company's shares have been suspended from trading since April 1, 2026 and will remain suspended.

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