Business Context and Reporting Period
This Form 6-K filing by Tungray Technologies Inc., a Cayman Islands-based foreign private issuer, covers the month of June 2025. The report primarily addresses a change of independent registered public accounting firm effective June 9, 2025.
Key Financial Metrics
The filing text does not provide specific values for revenue, profit, cash flow, margins, debt, or liquidity. This document is a disclosure of auditor changes and does not contain financial statement data.
Material Changes
- Auditor Change: The Company dismissed Marcum Asia CPAs LLP and appointed Guangdong Prouden CPAs GP as its new independent auditor.
- No Disagreements: The Company stated there were no disagreements with the former auditor regarding accounting principles, financial statement disclosures, or auditing scope.
- Reportable Events: No reportable events occurred other than material weaknesses in internal controls previously disclosed in the 2024 Form 20-F.
Outlook, Risks, and Contingencies
The filing details significant material weaknesses in internal controls over financial reporting identified in the fiscal year ended December 31, 2024. These weaknesses include:
- Lack of formal internal control policies and independent supervision functions for risk assessment.
- Insufficient accounting staff with knowledge of U.S. GAAP and SEC reporting requirements.
- Deficiencies in Information Technology General Controls (ITGC), covering areas such as IT governance, vendor management, system security, and segregation of duties.
- Lack of staff with appropriate knowledge of income tax compliance requirements.
The Company intends to use this filing to satisfy reporting obligations under Item 16F of its Form 20-F for the year ending December 31, 2025.
Investor Verification Checklist
- Verify the letter from Marcum Asia CPAs LLP (Exhibit 16.1) to confirm their agreement with the Company's statements regarding the auditor change.
- Review the Company's remediation plan for the material weaknesses in internal controls and ITGC disclosed in the 2024 Form 20-F.
- Confirm the qualifications and independence of the new auditor, Guangdong Prouden CPAs GP.
- Monitor future filings for any new disagreements or reportable events between the Company and the new auditor.