Hopson Development Holdings Limited announced plans to remove Ernst & Young (EY) as its auditor and appoint Crowe (HK) CPA Limited to fill the resulting casual vacancy, subject to shareholder approval at a special general meeting (SGM) scheduled for 20 May 2026.

The board cited protracted FY2025 audit work as the catalyst for the proposed change. Outstanding issues include pending audit confirmations, incomplete valuation reports, and insufficient evidence to support the going-concern assumption. EY confirmed that, as at 28 April 2026, management had not provided adequate information to validate the Group’s ability to continue as a going concern. Apart from this, EY stated no other matters required shareholder or creditor attention.

After reviewing these circumstances, the audit committee concluded that finalising the FY2025 results under the current arrangement lacked a definitive timetable. The committee deemed a replacement auditor in the best interests of shareholders and recommended Crowe for its Hong Kong-listed company experience, technical competence, independence, and resource capacity.

If shareholders approve the resolutions, Crowe will serve until the next annual general meeting and complete the FY2025 audit. Trading in Hopson Development shares has been suspended since 1 April 2026 due to the delayed results. The company intends the auditor switch to facilitate prompt completion of the FY2025 financial statements and re-compliance with Listing Rule reporting requirements.

The SGM record date is 20 May 2026, with the share register closed from 15 May 2026 to 20 May 2026 inclusive. A circular outlining the proposals will be dispatched to shareholders shortly.