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Graphex Group Limited Changes Auditors Amid Going Concern Doubts

Story Highlights
  • Graphex Group Limited changed its auditor to SFAI MALAYSIA PLT as of March 4, 2025.
  • Previous auditors noted doubts about Graphex’s ability to continue as a going concern.
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Graphex Group Limited Changes Auditors Amid Going Concern Doubts

Graphex Group Limited Sponsored ADR ( (GRFX) ) just unveiled an announcement.

Graphex Group Limited, a company with shares listed on the Hong Kong Stock Exchange and American Depositary Shares on the NYSE American, announced a change in its independent registered public accounting firm. Effective March 4, 2025, Marcum Asia CPAs LLP resigned, and SFAI MALAYSIA PLT was engaged to audit the company’s consolidated financial statements for the fiscal years ending December 31, 2023, and December 31, 2024. This change was recommended and approved by the company’s audit committee. The previous audit reports by Marcum Asia and Friedman LLP did not contain adverse opinions but noted substantial doubt about the company’s ability to continue as a going concern.

More about Graphex Group Limited Sponsored ADR

YTD Price Performance: -40.26%

Average Trading Volume: 700,951

Technical Sentiment Consensus Rating: Buy

Current Market Cap: $6.04M

Learn more about GRFX stock on TipRanks’ Stock Analysis page.

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