Business Context and Reporting Period
Company: Origin Agritech Limited
Filing Type: Form 6-K (Report of Foreign Private Issuer)
Reporting Period: Month of October 2006
Date Filed: October 26, 2006
Principal Executive Offices: No. 21 Sheng Ming Yuan Road, Changping District, Beijing 102206
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on corporate governance changes regarding the independent registered public accounting firm.
Material Changes
The primary material change disclosed is the replacement of the company's independent registered public accounting firm:
- Dismissal: On October 19, 2006, Origin Agritech Limited dismissed Deloitte Touche Tohmatsu CPA Ltd.
- Engagement: On October 19, 2006, the Audit Committee engaged BDO McCable Lo Limited as the new independent registered public accounting firm.
- Approval: The decision was approved by the Audit Committee of the board of directors.
Management Commentary, Risks, and Contingencies
Disagreements and Reportable Events:
- The Registrant states there were no disagreements with the former firm (Deloitte) regarding accounting principles, financial statement disclosure, or auditing scope during the years ended December 31, 2004 and 2005, and the interim period through October 19, 2006.
- There were no reportable events described under Item 304(a)(1)(v) of Regulation S-K during the same periods.
- The reports issued by Deloitte for 2004 and 2005 did not contain an adverse opinion, disclaimer of opinion, or qualifications regarding uncertainty, audit scope, or accounting principles.
Consultation with New Firm:
- Neither the Registrant nor anyone on its behalf consulted with the new firm (BDO McCable Lo Limited) regarding the application of accounting principles to specific transactions or the type of audit opinion that might be rendered.
- No consultations occurred regarding matters that were subjects of disagreement or reportable events.
Investor Verification Checklist
- Verify the effective date of the transition between Deloitte Touche Tohmatsu CPA Ltd. and BDO McCable Lo Limited (October 19, 2006).
- Confirm that no undisclosed disagreements or reportable events exist between the company and the former auditor.
- Review the upcoming financial statements to ensure they are audited by the newly engaged firm, BDO McCable Lo Limited.
- Note that this filing contains no financial performance data; investors should refer to the most recent Form 20-F for financial metrics.