Group 1: Change of Auditor - The Company has appointed Audit Alliance LLP as its independent registered public accounting firm, effective January 22, 2025, after dismissing Marcum Asia CPAs LLP, effective November 15, 2024 [1][2] - The decision to change auditors was due to significant changes in the Company's business focuses and scale, not due to any disagreements with MarcumAsia regarding accounting principles or practices [2] Group 2: Compliance Plan with Nasdaq - The Company has submitted a compliance plan to Nasdaq to request an extension of time to regain compliance with continued listing requirements [3] - The compliance plan outlines the timeline for filing its Annual Report on Form 20-F for the financial year ended June 30, 2024, and aims to become current with its reporting requirements within the discretionary period granted by Nasdaq [4] Group 3: Company Overview - Santech Holdings Limited (NASDAQ: STEC) is a consumer-focused technology company that has historically served high net-worth clients in China in financial services and health management [5] - The Company has exited its historical financial services businesses and is exploring new opportunities in technology, including new retail, social e-commerce, and the metaverse [5]
Santech Holdings Limited Announces Change of Auditor and Filing of Compliance Plan with Nasdaq