Hengxin Technology Ltd. — Board/Management Information 2016

Oct 24, 2016

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.

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HENGXIN TECHNOLOGY LTD. 亨 鑫 科 技 有 限 公 司[*]

(carrying on business in Hong Kong as HX Singapore Ltd.) (incorporated in Singapore with limited liability) (Singapore Registration No.: 200414927H) (Hong Kong Stock Code: 1085) (Singapore Stock Code: I85)

PROPOSED CHANGE OF AUDITOR

This announcement is made by Hengxin Technology Ltd. (the ‘‘Company’’) pursuant to Rule 13.51(4) of the Rules (the ‘‘Listing Rules’’) Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the ‘‘Stock Exchange’’).

The board (the ‘‘Board’’) of directors (the ‘‘Directors’’) of the Company announces that on 24 October 2016, the Company received a notice from Messrs Deloitte & Touche LLP (‘‘Deloitte Singapore’’) in relation to its resignation as the auditor of the Company with effect from 10 October 2016, for the reasons of safeguarding the independence of the auditor of the Company and enhancing the Company’s corporate governance practices.

Pursuant to the Companies Act (Chapter 50) of Singapore, resignation of the auditor of a listed company is subject to the prior consent from the Accounting and Corporate Regulatory Authority of Singapore (‘‘ACRA’’). The listed company shall then convene a general meeting within 3 months after the date of the auditor’s resignation for the purpose of appointment of a new auditor, who shall, upon approval of the shareholders, hold office, unless it is removed or resigns, until conclusion of the next annual general meeting of the company.

Deloitte Singapore has applied to ACRA for consent to its resignation as the Company’s auditor and ACRA has given its consent on 10 October 2016.

Following Deloitte Singapore’s resignation, the Board proposes, with the recommendation from the audit committee of the Company, to appoint KPMG LLP (‘‘KPMG Singapore’’) as the new auditor of the Company (the ‘‘Proposed Appointment’’) and to hold office until conclusion of the next annual general meeting of the Company. Given that KPMG Singapore is an auditing firm in Singapore, the Company has applied to the Stock Exchange and the Stock Exchange has confirmed pursuant to Rule 19.20(2) of the Listing Rules that KPMG Singapore can act as the auditor of the Company. The Company will convene an extraordinary general meeting (the ‘‘EGM’’) as soon as practicable for the shareholders of the Company (the ‘‘Shareholders’’) to, among other things, consider, and if thought fit, approve the Proposed Appointment.

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A circular containing, among other things, further details of the change of auditor of the Company together with a notice convening the EGM will be despatched to the Shareholders as soon as practicable.

Deloitte Singapore has confirmed that they are not aware of any matters or circumstances in connection with its resignation that need to be brought to the attention of the Shareholders. The Board confirmed that there is no disagreement between Deloitte Singapore and the Company, and there are no matters in respect of the change of the auditor that need to be brought to the attention of the Shareholders.

The Board would like to take this opportunity to thank Deloitte Singapore for its professional services and support in the past years.

By order of the Board Hengxin Technology Ltd. Cui Wei Chairman

Hong Kong, 24 October 2016

As at the date of this announcement, the executive Directors are Mr. Du Xiping and Mr. Xu Guoqiang; the non-executive Directors are Mr. Cui Wei and Ms. Zhang Zhong; and the independent non-executive Directors are Mr. Tam Chi Kwan Michael, Dr. Li Jun and Mr. Pu Hong.

• For identification purpose only

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