Tycoon Group hires Crowe as new auditor after fee dispute with PwC

Tycoon Group Holdings Limited ("Tycoon Group") has announced the resignation of PricewaterhouseCoopers ("PwC") as its auditor, effective November 21, 2025. This change comes after the company and PwC failed to reach a consensus on the audit fee for the year ending December 31, 2025.

Following PwC's resignation, Crowe (HK) CPA Limited ("Crowe") has been appointed as the new auditor, effective November 21, 2025. Crowe will hold office until the conclusion of the next annual general meeting. The audit committee recommended Crowe's appointment after evaluating factors such as their audit proposal, extensive experience, independence, market standing, and resources.

Both the board and the audit committee confirmed that there is no disagreement between the company and PwC, and no other matters regarding the change should be brought to the attention of shareholders. Tycoon Group believes the auditor change will not materially impact the group and will enhance the cost-effectiveness of the annual audit while maintaining quality.