FSM HOLDINGS (01721.HK): New Auditor Not Yet Appointed, Trading Suspension Continues

NewTimeSpace News: On 31 August 2026, FSM Holdings Limited (stock code: 01721) published an update announcement setting out the progress of the appointment of a new auditor, the resumption status and recent developments of the Company. Trading in the Company's shares has been suspended on the Stock Exchange of Hong Kong Limited since 9:00 a.m. on 1 April 2026 and will continue to be suspended until further notice.

According to the announcement, on 17 July 2026, the Company received a letter from the Stock Exchange setting out four resumption guidance items: publishing all outstanding financial results required under the Listing Rules and addressing any non-standard audit opinions; demonstrating that the Company remains suitable for listing notwithstanding the sanctions imposed on its controlling shareholder by the Office of Foreign Assets Control (OFAC); demonstrating the Company's compliance with Rule 13.24 of the Listing Rules; and informing the market of all material information to enable shareholders and investors to assess the Company's position.

The suspension of trading in the Company's shares was mainly due to the resignation of PricewaterhouseCoopers as the Company's auditor, and the Company's need to appoint a new auditor to perform and complete the audit of the Group's annual results for 2025. As of the date of the announcement, the Company has approached and held discussions with a number of accounting firms, and is providing background information to candidate firms to facilitate their professional assessment and acceptance review, but has not yet been able to appoint a new auditor; given the additional time required for the appointment, the Board is currently unable to provide the expected publication date of the 2025 annual results.

The Company is an investment holding company whose operating subsidiaries are engaged in sheet metal manufacturing, precision machinery services and provision of post-processing procedures focusing on precision engineering, as well as an online business of developing, publishing and operating online mobile games, with operations of the online gaming business currently remaining suspended. The announcement stated that there has been no material change to the resumption plan, and the Company will continue its best efforts to achieve the resumption guidance, fully comply with the Listing Rules and seek to resume trading as soon as possible.

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