Tianjin Construction Development issues clarification on proposed auditor switch from KPMG to Crowe

• Tianjin Construction Development Group issued a supplemental statement on its proposed auditor change from KPMG to CROWE for FY2026.
• KPMG kept its proposed audit fee at RMB 1.5 million, matching FY2025, then signaled its intention to resign.
• Competing bids ranged from RMB 0.95 million to RMB 1.23 million; CROWE quoted HKD 1.1 million, about RMB 0.95 million.
• The audit committee said CROWE’s lower fee reflects operational efficiencies, not reduced audit scope, citing a 1,261-hour risk-based plan.
• KPMG issued its resignation letter and professional clearance to CROWE on July 31; shareholders will vote at an EGM.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Tianjin Construction Development Group Co. Ltd. published the original content used to generate this news brief via IIS, the regulatory disclosure system operated by the Hong Kong Stock Exchange (HKex) (Ref. ID: HKEX-EPS-20260818-12289438), on August 18, 2026, and is solely responsible for the information contained therein.