Business Context and Reporting Period
This Form 6-K filing by ZJK Industrial Co., Ltd. (Nasdaq: ZJK) covers the month of October 2024, with the report dated October 25, 2024. The filing primarily addresses a change in the Company's independent registered public accounting firm.
Key Financial Metrics
The filing text does not provide specific values for revenue, profit, cash flow, margins, debt, or liquidity. This report is a disclosure of corporate governance changes rather than a financial performance statement.
Material Changes
- Change of Auditor: On October 22, 2024, the Company appointed HTL International, LLC ("HTL") as its new independent registered public accounting firm, effective immediately.
- Dismissal of Former Auditor: TPS Thayer, LLC ("TPS") was dismissed on October 22, 2024.
- Reason for Change: The Company states the decision was not the result of any disagreement with TPS regarding accounting principles, financial statement disclosure, or auditing scope.
- Prior Audit Opinions: TPS's audit reports for the fiscal years ended December 31, 2022, and 2023, did not contain adverse opinions, disclaimers, or qualifications.
Outlook, Risks, and Contingencies
Reportable Events: The Company disclosed no "reportable events" during the two most recent fiscal years or through October 22, 2024, with one exception: material weaknesses in internal controls reported by management in the final prospectus filed on September 30, 2024, in connection with the Company's initial public offering.
Consultations: The Company confirmed that neither it nor its representatives consulted HTL regarding accounting principles or potential audit opinions prior to the engagement.
Investor Verification Checklist
- Verify the effective date of the new auditor (HTL International, LLC) and the dismissal of the former auditor (TPS Thayer, LLC).
- Review the "Letter of TPS Thayer, LLC" filed as Exhibit 16.1 to confirm the former auditor's agreement with the Company's statements regarding the change.
- Examine the final prospectus filed on September 30, 2024, for details on the material weaknesses in internal controls mentioned in this filing.
- Confirm that no disagreements existed between the Company and TPS regarding accounting practices or audit scope during the 2022 and 2023 fiscal years.