02/20/2026 | Press release | Distributed by Public on 02/20/2026 10:00
Item 4.01 Change in Registrant's Certifying Accountant
On February 18, 2026, Boladale Lawal & Co. ("Boladale" or the "Former Auditor") resigned as the Company's independent registered public accounting firm, effective February 18, 2026. The Former Auditor delivered its resignation notice to the Company by email.
Also on February 18, 2026, the Company, with the approval of its Board of Directors, engaged Tang Qian & Associates, PLLC ("TQ&A" or the "New Auditor") as the Company's new independent registered public accounting firm pursuant to an executed engagement letter.
The Company makes the following disclosures pursuant to Item 304(a) of Regulation S-K:
(a) During the period of the Former Auditor's engagement, the Former Auditor did not issue an audit report on the Company's consolidated financial statements for any fiscal year. The Former Auditor's services were limited to reviews of the Company's unaudited interim financial information for the quarters ended June 30, 2025 and September 30, 2025.
(b) During the Company's two most recent fiscal years and through February 18, 2026, there were no disagreements with the Former Auditor on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure, which, if not resolved to the Former Auditor's satisfaction, would have caused it to make reference thereto in connection with any report that it might have issued. In addition, during such period and through February 18, 2026, there were no reportable events of the type described in Item 304(a)(1)(v) of Regulation S-K.
(c) During the Company's two most recent fiscal years and through February 18, 2026, the Company did not consult with the New Auditor regarding (i) the application of accounting principles to a specified transaction, either completed or proposed; (ii) the type of audit opinion that might be rendered on the Company's financial statements; or (iii) any matter that was the subject of a disagreement (as defined in Item 304(a)(1)(iv) of Regulation S-K) or a reportable event (as described in Item 304(a)(1)(v) of Regulation S-K).
The Former Auditor stated that its resignation arose from regulatory, logistical, and resource constraints that made it impracticable to complete the audit within applicable timelines, including restrictions relating to cross-border sharing of audit workpapers for China-based operations, among other factors.
The Former Auditor further stated that the resignation was not the result of any disagreement with the Company and that it was not aware of any unresolved matters constituting a reportable event under Item 304(a)(1)(v).
The Company has provided the Former Auditor with a copy of the disclosures contained in this Item 4.01 and has requested that the Former Auditor furnish the Company with a letter addressed to the Securities and Exchange Commission stating whether it agrees with the statements made herein, as required by Item 304(a)(3) of Regulation S-K. The Company will file such letter as Exhibit 16.1 to this Current Report on Form 8-K, or by amendment, upon receipt.