Hopson plunges 27%

Property developer Hopson Development Holdings said PricewaterhouseCoopers has agreed to resign as the company’s auditor, effective January 27, after they could not reach a consensus on the audit fee for the financial year ended Dec. 31.
PwC told Hopson it did not receive information on certain matters and therefore could not plan and complete the necessary audit procedures.

Matters include accounting treatment of certain of the Group’s equity investments and property projects and the valuation of the Group’s investment properties, as well as the overall impact of these material matters on the Group’s financial statements and relevant disclosures.

The group’s stock price plunges 27%.
$HOPSON DEV HOLD(00754.HK)$

Hesheng Chuangzhang Hong Kong stocks fell more than 30% after PricewaterhouseCoopers resigned as auditor.
Hesheng Development said PricewaterhouseCoopers (PricewaterhouseCoopers) had agreed to resign as auditor of the company, effective January 27. PricewaterhouseCoopers and Hesheng Development failed to agree on audit fees for the fiscal year ending December 31, according to a document.