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Yadea Group Holdings Ltd.
(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.