| Ivd Medical | 01931 | | 20-Feb-25 | | Prior to the events as disclosed in the Supplemental Announcement, the unexpected resignation of the Group’s senior management from finance department in late January 2025, disrupted the communication between the Company and Moore HK regarding the audit procedures. The Company allocated additional time and resources to internally sort out the outstanding audit works and spent extra effort to keep the audit progress on track in accordance with the pre-determined timeline. The Outstanding Information as disclosed in the Supplemental Announcement include: • Inventory aging: Moore HK requested the Company to prepare the aging analysis in their specific format; • Impairment assessment for intangible assets and goodwill: Moore HK required the Company to further enhance the forecast and elaborate on certain aspects, including but not limited to the reasonableness of revenue growth rates in future business plans, supported by industry growth rates; • Trade receivable aging: Moore HK requested the Company to complete the expected credit loss calculation process and provide a report with detailed supporting documents; • Investment in the joint venture: Moore HK requested fair value calculation and supporting documents; • Valuation of unlisted fund investments and unlisted equity investments: Moore HK requested a complete fair value calculation and report; • Calculation of deferred tax liabilities for dividend withholding tax: Moore HK claimed that they did not receive formal board resolution confirmation documents. |
