Fujian Haixi Pharma clarifies auditor switch driven by CASBE reporting demands, not Deloitte dispute

• Fujian Haixi Pharmaceuticals issued a supplemental clarification on its proposed auditor change, citing rising PRC demands for CASBE-based audit reports.
• Requests came from a local industry bureau on April 22, then China Merchants Bank on June 1 and Industrial Bank on June 2.
• The board framed the switch as a move to adopt CASBE as the primary reporting framework, avoiding dual IFRS and CASBE audits.
• It said the change was not driven by audit quality issues at Deloitte, noting no disagreements or unresolved matters.
• RSM began interim review work for the six months ended June 30, with a review report targeted for Aug. 28.

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