Litian Pictures Holdings Limited announced a proposed change of auditor following KPMG’s immediate resignation on 30 July 2026. Shareholders will vote on the appointment of McMillan Woods (Hong Kong) CPA Limited at an extraordinary general meeting (EGM) scheduled for 10 September 2026 in Shenzhen.

KPMG cited workload, staffing requirements and an audit-fee dispute as reasons for stepping down. The firm’s quotation for the financial year ended 30 June 2026 was RMB 2.00 million, a 66.67 % increase from the previous period. Litian Pictures sought a lower fee of RMB 1.50 million, which KPMG declined.

After obtaining alternative quotations, the audit committee recommended McMillan Woods, which offered to complete the FY 2026 audit for RMB 1.40 million. Another unnamed firm submitted a bid of RMB 1.60 million.

McMillan Woods plans to deploy eight professionals, including an engagement director, quality reviewer and technical reviewer, with a combined 760 staff hours. The audit timetable runs from July to October 2026, targeting completion of fieldwork by September and publication of results shortly thereafter.

The audit committee assessed McMillan Woods’ independence, industry experience and recent Accounting and Financial Reporting Council inspection scores, concluding the proposed engagement would not compromise audit quality.

Shareholders of record on 10 September 2026 are eligible to vote. The register of members will be closed from 7 September to 10 September 2026. Proxy forms must be lodged by 8 September 2026.