Shanghai Bio-heart Adopts Chinese Accounting Standards for Financial Reporting

• Shanghai Bio-heart will adopt China Accounting Standards for Business Enterprises exclusively for financial reports for the year ending Dec. 31, 2026.
• The switch will eliminate separate IFRS financial statements to reduce duplicate audit work and costs, with no material impact on results or financial position.
• Pan-China will replace domestic auditor EY Hua Ming and international auditor Ernst & Young, subject to shareholder approval.
• The proposed replacement follows a fee disagreement with EY Hua Ming, whose revised proposal increased fees despite a reduced audit scope.
• Pan-China quoted approximately RMB 940,000, the most competitive of three proposals; the audit committee concluded the lower fee would not compromise audit quality.

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. Shanghai Bio-heart Biological Technology 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-20261022-12380522), on October 22, 2026, and is solely responsible for the information contained therein.