Kuke Music Announces Change of Registered Independent Accounting Firm

By | November 17, 2022

BEIJING, November 17, 2022 /PRNewswire/ — Kuke Music Holding Restricted (“Kuke” or the “Firm”) (NYSE: KUKE), a number one classical music companies platform in Chinaintroduced the change of its registered impartial public accounting agency, efficient November 17, 2022.

Change of registered impartial accounting agency

The appointment of Yu Licensed Public Accountant has been permitted by each the Audit Committee and the Board of Administrators of the Firm. On November 17, 2022Ernst & Younger (“EY”), which was beforehand Kuke’s registered impartial accountancy agency, didn’t search re-election.

EY’s audit experiences on the Firm’s consolidated monetary statements for the years ended December 31, 2021 and 2020 didn’t comprise an antagonistic opinion or disclaimer of opinion and haven’t been certified or modified as to uncertainty, scope of the audit or accounting rules. Over the past two monetary years of the Firm and the following interval November 17, 2022there was no (i) disagreement (as outlined in Merchandise 16F(a)(1)(iv) of Kind 20-F and the directions referring to Merchandise 16F of Kind 20-F) between the Firm and EY on any matter of accounting rules or practices, monetary assertion disclosure, or audit scope or process, any disagreements about which, if not resolved to EY’s satisfaction, would have required to refer, as a part of his opinion, to the subject material of the disagreement, or (ii) to report occasions in accordance with Part 16F(a)(1)(v) of the Kind 20-F directions, different that the next materials weaknesses reported in our 2020 and 2021 Annual Reviews on Kind 20-F filed with the USA Securities and Trade Fee: (a) the dearth of accounting and monetary reporting personnel with the data and expertise required within the software of IFRS and SEC guidelines recognized on the date of December 31, 2020 and 2021, and (b) the absence of enough controls within the calculation of the anticipated credit score loss on the monetary belongings recognized in the thirty first of December, 2021. The Audit Committee has mentioned the above reportable occasions with EY. EY is allowed to reply absolutely to Accountant Yu’s inquiries in regards to the reportable occasion.

Yu Licensed Public Accountant is engaged to audit and report on the consolidated monetary statements of the Firm for the monetary 12 months ended December 31, 2022. Over the past two monetary years of the Firm and through the next interim interval on the newest on November 17, 2022neither the Firm nor anybody on its behalf has consulted Yu Licensed Public Accountant on (a) the applying of accounting rules to any particular transaction, carried out or proposed, or the kind of audit opinion that is perhaps rendered on the statements of the Firm, and neither a written report nor any report was offered to the Firm by Yu’s licensed public accountant that Yu’s licensed public accountant concluded that these have been ‘an vital issue thought-about by the corporate in making a choice as to any accounting, auditing, or monetary reporting matter, or (b) any matter which has been the topic of disagreement, comparable to this time period is outlined in Part 16F(a)(1)(iv) of Kind 20-F (and associated directions) or a Reportable Occasion as set forth in Part 16F(a)(1)(v) of Kind 20-F.

The Firm has offered EY with a duplicate of the data contained on this Kind 6-Ok and has requested that EY present a letter addressed to the Securities and Trade Fee stating whether or not EY agrees with the statements made by the Firm on this kind. 6-Ok. and, if not, point out the factors on which he disagrees. A duplicate of this letter from EY is filed as Exhibit A to this Kind 6-Ok.

The corporate is working intently with EY and Yu Licensed Public Accountant to make sure a easy transition. The Audit Committee want to categorical its honest gratitude to EY for its professionalism and the standard of the companies rendered to the Firm over the previous few years.

About Kuke Music Holding Restricted

Kuke is a number one classical music service platform in China encompassing your complete worth chain, from content material supply to music studying companies. Working with its strategic international enterprise accomplice Naxos, the world’s largest impartial classical music content material supplier, the inspiration of Kuke’s huge library of classical music content material is its unmatched entry to over 900 labels and file labels from foreground. Leveraging its market management in worldwide copyrighted music content material, Kuke offers extremely scalable classical music licensing companies to varied on-line music platforms, and classical music subscription companies to greater than 800 universities, libraries and different establishments throughout China. Moreover, it has hosted the Beijing Music Pageant (“BMF”), China’s most famed music pageant, for twenty-four consecutive years. By means of KUKEY, the corporate’s proprietary clever music studying options, Kuke goals to democratize music studying by way of technological innovation, deliver fascinating music content material {and professional} music methods to a larger variety of college students, and to constantly enhance the effectivity and penetration of China’s music schooling.

For extra details about Kuke, please go to https://ir.kuke.com/

Exhibit A

November 172022
Safety and Trade Fee
100 F Avenue, NE
washington d.c. 20549

Women and gents:

We have now learn the Change of Registered Impartial Public Accounting Agency part of Kind 6-Ok dated November 17, 2022 from Kuke Music Holding Restricted and agree with the statements contained within the second sentence of the primary paragraph and the second and fourth paragraphs the bridle. We have now no cause to agree or disagree with some other statements by the Holder contained therein.

/s/ Ernst & Younger
Hong Kong, Folks’s Republic of China
November 17, 2022

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SOURCEKuke Music Holding Restricted