Business Context and Reporting Period
This Form 8-K Current Report was filed by Greenland Technologies Holding Corp. (GTEC) on November 17, 2020, regarding events occurring on November 13, 2020. The company is incorporated in the British Virgin Islands with principal executive offices in Hangzhou, China. The filing specifically addresses Item 4.01: Changes in the Company's Certifying Accountant.
Key Financial Metrics
This filing does not contain financial performance data such as revenue, profit, cash flow, margins, debt, or liquidity metrics. The document is strictly procedural regarding the change of the independent registered public accounting firm.
Material Changes
- Dismissal of Previous Auditor: The Board of Directors approved the dismissal of BDO China Shu Lun Pan Certified Public Accountants LLP ("BDO") effective November 13, 2020.
- Appointment of New Auditor: The Board approved the appointment of WWC Corporation ("WWC") as the new independent registered public accounting firm to audit the fiscal year ending December 31, 2020, effective November 16, 2020.
- Audit History: BDO's reports for fiscal years 2018 and 2019 did not contain adverse opinions, disclaimers, or qualifications regarding uncertainty, audit scope, or accounting principles.
Management Commentary and Risks
Management confirmed that during the fiscal years ended December 31, 2018 and 2019, and the interim period through November 13, 2020, there were no "disagreements" with BDO on accounting principles, practices, or auditing scope that would have required reference in an audit opinion. Additionally, no "reportable events" occurred during this period. The company has received a letter from BDO agreeing with these statements, which is filed as Exhibit 16.1. No consultations regarding disagreements or reportable events were made with the new auditor, WWC, prior to their appointment.
Investor Verification Checklist
- Verify the content of the letter from BDO (Exhibit 16.1) to confirm their agreement with the company's statements regarding the dismissal.
- Monitor future filings to ensure WWC Corporation is properly registered and qualified to audit the company's financial statements for the 2020 fiscal year.
- Review the company's upcoming 10-K or 10-Q filings to assess if the change in auditors impacts the audit opinion or financial disclosures for the 2020 fiscal year.