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HKEX Decides to Discuss Auditor Replacement in 2026, Plans to Splash $1B in Developing Derivatives Trading Platform
Recommend 4 Positive 8 Negative 7 |
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HKEX (00388.HK) held its annual general meeting today, with one of the agenda items being the reappointment of PwC as its auditor. Some shareholders expressed concerns about the quality of PwC's auditing in light of the EVERGRANDE (03333.HK) event. Vanessa Lau, Chief Operating Officer and Group Chief Financial Officer, responded that HKEX is paying close attention to the matter. Given its large scale, however, changing auditors will take time. Still, it has been decided that the Audit Committee will discuss whether to replace the auditor in FY26 and initiate a tender process. Shareholders also raised concerns over the impact on capital expenditure from HKEX's intention to not only strengthen its trading systems but also independently develop a derivatives trading platform. CEO Bonnie Chan stated that an investment of $1 billion is planned for HKEX's derivatives trading platform. She emphasized that it is well worth it in order to maintain a competitive edge against other exchanges, especially given the fierce competition in derivatives. AAStocks Financial News |
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