Kuke Music Announces Change of Registered Independent Accounting Firm
BEIJING, November 17, 2022 /PRNewswire/ — Kuke Music Holding Limited (“Kuke” or the “Company”) (NYSE: KUKE), a leading classical music services platform in Chinaannounced the change of its registered independent public accounting firm, effective November 17, 2022.
Change of registered independent accounting firm
The appointment of Yu Certified Public Accountant has been approved by both the Audit Committee and the Board of Directors of the Company. On November 17, 2022Ernst & Young (“EY”), which was previously Kuke’s registered independent accountancy firm, did not seek re-election.
EY’s audit reports on the Company’s consolidated financial statements for the years ended December 31, 2021 and 2020 did not contain an adverse opinion or disclaimer of opinion and have not been qualified or modified as to uncertainty, scope of the audit or accounting principles. During the last two financial years of the Company and the subsequent period November 17, 2022there has been no (i) disagreement (as defined in Item 16F(a)(1)(iv) of Form 20-F and the instructions relating to Item 16F of Form 20-F) between the Company and EY on any matter of accounting principles or practices, financial statement disclosure, or audit scope or procedure, any disagreements about which, if not resolved to EY’s satisfaction, would have required to refer, as part of his opinion, to the subject matter of the disagreement, or (ii) to report events in accordance with Section 16F(a)(1)(v) of the Form 20-F instructions, other that the following material weaknesses reported in our 2020 and 2021 Annual Reports on Form 20-F filed with the United States Securities and Exchange Commission: (a) the lack of accounting and financial reporting personnel with the knowledge and experience required in the application of IFRS and SEC rules identified at the date of December 31, 2020 and 2021, and (b) the absence of sufficient controls in the calculation of the expected credit loss on the financial assets identified in the 31st of December, 2021. The Audit Committee has discussed the above reportable events with EY. EY is authorized to respond fully to Accountant Yu’s inquiries about the reportable event.
Yu Certified Public Accountant is engaged to audit and report on the consolidated financial statements of the Company for the financial year ended December 31, 2022. During the last two financial years of the Company and during the following interim period at the latest on November 17, 2022neither the Company nor anyone on its behalf has consulted Yu Certified Public Accountant on (a) the application of accounting principles to any specific transaction, performed or proposed, or the type of audit opinion that might be rendered on the statements of the Company, and neither a written report nor any report was provided to the Company by Yu’s certified public accountant that Yu’s certified public accountant concluded that these were ‘an important factor considered by the company in making a decision as to any accounting, auditing, or financial reporting matter, or (b) any matter which has been the subject of disagreement, such as this term is defined in Section 16F(a)(1)(iv) of Form 20-F (and related instructions) or a Reportable Event as set forth in Section 16F(a)(1)(v) of Form 20-F.
The Company has provided EY with a copy of the information contained in this Form 6-K and has requested that EY provide a letter addressed to the Securities and Exchange Commission stating whether EY agrees with the statements made by the Company in this form. 6-K. and, if not, indicate the points on which he disagrees. A copy of this letter from EY is filed as Exhibit A to this Form 6-K.
The company is working closely with EY and Yu Certified Public Accountant to ensure a smooth transition. The Audit Committee would like to express its sincere gratitude to EY for its professionalism and the quality of the services rendered to the Company over the past few years.
About Kuke Music Holding Limited
Kuke is a leading classical music service platform in China encompassing the entire value chain, from content delivery to music learning services. Working with its strategic global business partner Naxos, the world’s largest independent classical music content provider, the foundation of Kuke’s vast library of classical music content is its unrivaled access to over 900 labels and record labels from foreground. Leveraging its market leadership in international copyrighted music content, Kuke provides highly scalable classical music licensing services to various online music platforms, and classical music subscription services to more than 800 universities, libraries and other institutions across China. Additionally, it has hosted the Beijing Music Festival (“BMF”), China’s most renowned music festival, for 24 consecutive years. Through KUKEY, the company’s proprietary intelligent music learning solutions, Kuke aims to democratize music learning through technological innovation, bring fascinating music content and professional music techniques to a greater number of students, and to continuously improve the efficiency and penetration of China’s music education.
For more information about Kuke, please visit https://ir.kuke.com/
Security and Exchange Commission
100 F Street, NE
washington d.c. 20549
Ladies and gentlemen:
We have read the Change of Registered Independent Public Accounting Firm section of Form 6-K dated November 17, 2022 from Kuke Music Holding Limited and agree with the statements contained in the second sentence of the first paragraph and the second and fourth paragraphs the bridle. We have no reason to agree or disagree with any other statements by the Holder contained therein.
/s/ Ernst & Young
Hong Kong, People’s Republic of China
November 17, 2022
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SOURCEKuke Music Holding Limited
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