Fusen Pharmaceutical replaces KPMG with CCTH after audit fee dispute

  • Fusen Pharmaceutical replaced auditor KPMG with CCTH effective Dec. 24, 2025 for audit of FY2025 financial statements.
  • Change followed fee dispute, with KPMG proposing RMB 4.5 million versus agreed CCTH fee of HK$ 3 million.
  • KPMG cited higher staff costs, tighter regulatory scrutiny, and added audit work tied to revenue recognition, receivables testing, and a 2025 disposal transaction.
  • Audit committee said KPMG confirmed no unresolved audit issues or disagreements beyond audit fees.
  • CCTH is scheduled to complete audit work by March 31, 2026 in time for annual results release.


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