[Chung Fu] Announcement on Approval for Extension of Deadline for Restatement and Filing of 114th Fiscal Year and 115th Q1 Financial Reports
Chung Fu (1435) has received approval from the regulatory authority to extend the deadline for restating and filing its 114th fiscal year and 115th Q1 financial reports until June 15, 115. Currently under trading suspension, the company is accelerating normalization under new leadership by collecting data and completing audits.
📋 Article Processing Timeline
- 📰 Published: May 21, 2026 at 09:00
- 🔍 Collected: May 22, 2026 at 08:00 (23h 0m after Published)
- 🤖 AI Analyzed: May 22, 2026 at 12:31 (4h 31m after Collected)
1. Date of occurrence: 115/05/21
2. Financial reports subject to correction or restatement: FY114 and Q1 115 financial reports.
3. Reason for correction or restatement: Restatement.
4. Origin of event: Financial Supervisory Commission Letter (Jin-Guan-Zheng-Shen-Zi No. 1150344393) dated May 18, 115.
5. Deadline mandated by regulatory authority: 115/06/15.
6. Main difference from previous announcement: N/A.
7. Response measures:
(1) The company previously failed to provide sufficient and appropriate audit evidence for the accounting items of our equity-method investee, Fu Hsing, regarding the FY114 financial statements. We repeatedly requested Fu Hsing to provide its FY114 audited financial reports between April 1 and April 29, 115, and our chairman also requested board meetings in his capacity as a director of Fu Hsing, but received no response by the deadline. Consequently, our securities were suspended from trading by the Taiwan Stock Exchange.
(2) Furthermore, as the company could not obtain Fu Hsing's audited FY114 reports or Q1 115 financial information, our auditors could not provide an opinion on our Q1 115 financial statements. This led to a combined trading suspension.
(3) Following the suspension, Fu Hsing's board elected Mr. Chen Jian (our chairman) as the new Chairman of Fu Hsing. We plan to hold an extraordinary shareholders' meeting, elect new supervisors, and appoint auditors. We will diligently collect financial data from the former chairman and auditors to complete our financial reports and proceed with the necessary audit and restatement process to protect shareholders' interests.
8. Other information: None.
2. Financial reports subject to correction or restatement: FY114 and Q1 115 financial reports.
3. Reason for correction or restatement: Restatement.
4. Origin of event: Financial Supervisory Commission Letter (Jin-Guan-Zheng-Shen-Zi No. 1150344393) dated May 18, 115.
5. Deadline mandated by regulatory authority: 115/06/15.
6. Main difference from previous announcement: N/A.
7. Response measures:
(1) The company previously failed to provide sufficient and appropriate audit evidence for the accounting items of our equity-method investee, Fu Hsing, regarding the FY114 financial statements. We repeatedly requested Fu Hsing to provide its FY114 audited financial reports between April 1 and April 29, 115, and our chairman also requested board meetings in his capacity as a director of Fu Hsing, but received no response by the deadline. Consequently, our securities were suspended from trading by the Taiwan Stock Exchange.
(2) Furthermore, as the company could not obtain Fu Hsing's audited FY114 reports or Q1 115 financial information, our auditors could not provide an opinion on our Q1 115 financial statements. This led to a combined trading suspension.
(3) Following the suspension, Fu Hsing's board elected Mr. Chen Jian (our chairman) as the new Chairman of Fu Hsing. We plan to hold an extraordinary shareholders' meeting, elect new supervisors, and appoint auditors. We will diligently collect financial data from the former chairman and auditors to complete our financial reports and proceed with the necessary audit and restatement process to protect shareholders' interests.
8. Other information: None.
FAQ
Why is Chung Fu's stock suspended?
It was suspended due to the inability to produce proper financial reports and complete audits, caused by a lack of financial data from its affiliate, Fu Hsing.
When will trading resume?
It is undetermined. It depends on the submission of revised financial reports by June 15 and subsequent review by the stock exchange.
What are the current improvement measures?
The company is working on normalizing data by electing new leadership at Fu Hsing, retrieving documents from former management, and appointing auditors.