JY Grandmark auditor issues disclaimer on 2025 financial statements over going concern doubts

• JY Grandmark received a disclaimer of opinion on its consolidated financial statements for the year ended Dec. 31, 2025, with the auditor citing multiple uncertainties over the group’s ability to continue as a going concern.
• Defaulted bank and other borrowings totaled about RMB 2.97 billion out of roughly RMB 3.14 billion in total borrowings as of Apr. 30, 2026, with lenders pursuing court actions on several facilities.
• Litigation exposure reached about RMB 2.12 billion across 241 cases, with judgments rendered in 181 cases for about RMB 290.06 million and enforcement started in 90 cases for about RMB 157.43 million.
• McMillan Woods is set to retire at the May 28, 2026 AGM, with a resolution to reappoint it as auditor; the estimated audit fee for the year ending Dec. 31, 2026 is HK$ 700,000 to HK$ 770,000.

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. JY Grandmark Holdings Ltd. published the original content used to generate this news brief via IIS, the Issuer Information Service operated by the Hong Kong Stock Exchange (HKex) (Ref. ID: HKEX-EPS-20260519-12164002), on May 19, 2026, and is solely responsible for the information contained therein.