[Chung Fu] The Company's Q1 2026 financial report received a disclaimer of conclusion from the CPA
Chung Fu International announced that its CPA issued a disclaimer of conclusion for its Q1 2026 financial report due to the inability to obtain financial data from its investee, Fuxing Investment.
📋 Article Processing Timeline
- 📰 Published: May 15, 2026 at 09:00
- 🔍 Collected: May 16, 2026 at 08:00 (23h 0m after Published)
- 🤖 AI Analyzed: May 16, 2026 at 09:35 (1h 35m after Collected)
1. Date of occurrence: 2026/05/15
2. Full text of the CPA's audit opinion:
To Chung Fu International Co., Ltd.:
Introduction
We have reviewed the balance sheet of Chung Fu International Co., Ltd. as of March 31, 2026, and the related statements of comprehensive income, changes in equity, and cash flows for the period from January 1 to March 31, 2026, and notes to the financial statements (including a summary of significant accounting policies). We are unable to form a conclusion on the financial statements. Because of the possible effects of the matters described in the Basis for Disclaimer of Conclusion section, we were not able to complete our review to provide a basis for a review conclusion.
The financial statements of Chung Fu for the first quarter of 2025 were reviewed by us. Management is responsible for the preparation and fair presentation of the financial statements... Our responsibility is to express a conclusion based on our review.
Scope
Except as explained in the basis sections, we conducted our review in accordance with Statement of Auditing Standards No. 2410... A review is substantially less in scope than an audit... and we do not express an audit opinion.
Basis for Disclaimer of Conclusion for Q1 2026
As stated in Note 6(7), Chung Fu's investment in Fuxing Investment Co., Ltd. accounted for using the equity method was NT$170,654 thousand as of March 31, 2026. Because we could not access the Q1 2026 financial information of Fuxing Investment, we were unable to perform review procedures and determine whether necessary adjustments to these amounts were required.
Basis for Qualified Conclusion for Q1 2025
As stated in Note 6(7), the investment amount in 2025 was NT$283,500 thousand... based on unreviewed financial statements of the investee.
Disclaimer of Conclusion and Qualified Conclusion
Due to the significance of the matters in the Basis for Disclaimer of Conclusion for Q1 2026, we were unable to obtain sufficient appropriate evidence and therefore do not express a conclusion on the Q1 2026 financial statements.
3. Name of CPA firm: Guanheng Joint CPA Firm
4. Name of CPA 1: Chang Chin-Te
5. Name of CPA 2: Chu Shu-Mei
6. Date of CPA report: 2026/05/15
7. Countermeasures: The company will continue to pursue Fuxing Investment for its audited financial reports. Once obtained, the CPA will be requested to perform an audit and issue an updated opinion.
8. Other matters to specify: None
2. Full text of the CPA's audit opinion:
To Chung Fu International Co., Ltd.:
Introduction
We have reviewed the balance sheet of Chung Fu International Co., Ltd. as of March 31, 2026, and the related statements of comprehensive income, changes in equity, and cash flows for the period from January 1 to March 31, 2026, and notes to the financial statements (including a summary of significant accounting policies). We are unable to form a conclusion on the financial statements. Because of the possible effects of the matters described in the Basis for Disclaimer of Conclusion section, we were not able to complete our review to provide a basis for a review conclusion.
The financial statements of Chung Fu for the first quarter of 2025 were reviewed by us. Management is responsible for the preparation and fair presentation of the financial statements... Our responsibility is to express a conclusion based on our review.
Scope
Except as explained in the basis sections, we conducted our review in accordance with Statement of Auditing Standards No. 2410... A review is substantially less in scope than an audit... and we do not express an audit opinion.
Basis for Disclaimer of Conclusion for Q1 2026
As stated in Note 6(7), Chung Fu's investment in Fuxing Investment Co., Ltd. accounted for using the equity method was NT$170,654 thousand as of March 31, 2026. Because we could not access the Q1 2026 financial information of Fuxing Investment, we were unable to perform review procedures and determine whether necessary adjustments to these amounts were required.
Basis for Qualified Conclusion for Q1 2025
As stated in Note 6(7), the investment amount in 2025 was NT$283,500 thousand... based on unreviewed financial statements of the investee.
Disclaimer of Conclusion and Qualified Conclusion
Due to the significance of the matters in the Basis for Disclaimer of Conclusion for Q1 2026, we were unable to obtain sufficient appropriate evidence and therefore do not express a conclusion on the Q1 2026 financial statements.
3. Name of CPA firm: Guanheng Joint CPA Firm
4. Name of CPA 1: Chang Chin-Te
5. Name of CPA 2: Chu Shu-Mei
6. Date of CPA report: 2026/05/15
7. Countermeasures: The company will continue to pursue Fuxing Investment for its audited financial reports. Once obtained, the CPA will be requested to perform an audit and issue an updated opinion.
8. Other matters to specify: None