Focus Technology audited for related party funds misuse in 2024

Focus Technology (SZSE:002315) is under scrutiny following its 2024 annual audit, which examined potential misuse of funds by related parties. The audit, conducted by Zhonghua Certified Public Accountants, revealed specific instances of fund transfers between Focus Technology and its related entities, including its education technology subsidiary. While the audit firm found no material inconsistencies or impairments, the investigation raises concerns about the company's financial oversight. The audit further clarified transactions, including details on related party fund usage, which were then released in the company's follow up annoucements.