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    1585   KYG9830F1063

YADEA GROUP HOLDINGS LTD.

(1585)
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Yadea : CHANGE OF AUDITOR

07/24/2020 | 05:15am EDT

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

Yadea Group Holdings Ltd.

雅迪集團控股有限公司

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 1585)

CHANGE OF AUDITOR

This announcement is made by Yadea Group Holdings Ltd. (the "Company") pursuant to Rule 13.51(4) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited.

RESIGNATION OF AUDITOR

The board (the "Board") of directors of the Company (the "Directors") announces that Deloitte Touche Tohmatsu ("Deloitte") has resigned as the auditor of the Company with effect from 24 July 2020 as the Company could not reach a consensus with Deloitte on the audit fee for the year ending 31 December 2020.

Deloitte has confirmed in its letter of resignation dated 24 July 2020 that there are no circumstances connected with its resignation as the auditor of the Company that needs to be brought to the attention of the holders of securities or creditors of the Company or its subsidiary.

The Board also confirms that there are no circumstances connected with the resignation of Deloitte as the auditor of the Company which should be brought to the attention of the shareholders of the Company and there are no outstanding matters between the Company and Deloitte.

The Board would like to take this opportunity to express its gratitude to Deloitte for its professional services rendered to the Company in the past years.

- 1 -

PROPOSED APPOINTMENT OF AUDITOR

The Board and the audit committee of the Company proposed to appoint PricewaterhouseCoopers ("PwC") as the auditor of the Group (the "Proposed Appointment") to fill the casual vacancy following the resignation of Deloitte. PwC is currently undergoing certain internal procedures in relation to the Proposed Appointment. The Company will make further announcement(s) to inform its shareholders once an appointment is formally made.

By order of the Board

Yadea Group Holdings Ltd.

Dong Jinggui

Chairman

Hong Kong, 24 July 2020

As of the date of this announcement, Mr. Dong Jinggui, Ms. Qian Jinghong and Mr. Shen Yu are the executive Directors; Mr. Zhang Yiyin is the non-executive Director; and Mr. Li Zongwei, Mr. Wu Biguang, Mr. Yao Naisheng and Mr. Wong Lung Ming are the independent non-executive Directors.

- 2 -

Disclaimer

Yadea Group Holdings Ltd. published this content on 24 July 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 24 July 2020 09:15:12 UTC


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Financials
Sales 2021 27 914 M 4 320 M 4 320 M
Net income 2021 1 455 M 225 M 225 M
Net cash 2021 9 155 M 1 417 M 1 417 M
P/E ratio 2021 28,5x
Yield 2021 1,37%
Capitalization 39 622 M 5 098 M 6 132 M
EV / Sales 2021 1,09x
EV / Sales 2022 0,60x
Nbr of Employees 8 184
Free-Float 36,4%
Chart YADEA GROUP HOLDINGS LTD.
Duration : Period :
Yadea Group Holdings Ltd. Technical Analysis Chart | 1585 | KYG9830F1063 | MarketScreener
Technical analysis trends YADEA GROUP HOLDINGS LTD.
Short TermMid-TermLong Term
TrendsBearishBearishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 7
Last Close Price 13,92 CNY
Average target price 22,13 CNY
Spread / Average Target 59,0%
EPS Revisions
Managers and Directors
Jing Hong Qian Vice Chairman & Chief Executive Officer
Rui Shi Chief Financial Officer
Jing Gui Dong Chairman
Bi Guang Wu Independent Non-Executive Director
Zong Wei Li Independent Non-Executive Director
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