BEIJING, Nov. 17,
2022 /PRNewswire/ -- Kuke Music Holding Limited
("Kuke" or the "Company") (NYSE: KUKE), a leading classical music
service platform in China,
announced the change of its independent registered public
accounting firm, effective as of November
17, 2022.
Change of Independent Registered Public Accounting
Firm
The appointment of Yu Certified Public Accountant has been
approved by both the audit committee and the board of directors of
the Company. On November 17,
2022, Ernst & Young ("EY"), which previously was the
independent registered public accounting firm of Kuke, did not
stand for re-appointment.
EY's audit reports on the Company's consolidated financial
statements as of and for the years ended December 31, 2021 and 2020 did not contain an
adverse opinion or a disclaimer of opinion and were not qualified
or modified as to uncertainty, audit scope or accounting
principles. During the Company's two most recent fiscal years and
the subsequent period through November 17,
2022, there were no (i) disagreements (as defined in Item
16F(a)(1)(iv) of Form 20-F and the related instructions to Item 16F
of Form 20-F) between the Company and EY on any matter of
accounting principles or practices, financial statement disclosure,
or audit scope or procedure, which disagreements if not resolved to
the satisfaction of EY would have caused it to make reference in
connection with its opinion to the subject matter of the
disagreement, or (ii) reportable events pursuant to Item
16F(a)(1)(v) of the instructions to Form 20-F, other than the
following material weaknesses reported in our 2020 and 2021 annual
reports on Form 20-F filed with the U.S. Securities and Exchange of
Commission: (a) the lack of sufficient accounting and financial
reporting personnel with the requisite knowledge and experience in
the application of IFRS and SEC rules identified as of December 31, 2020 and 2021, and (b) the lack of
sufficient controls in calculating the expected credit loss on
financial assets identified as of December
31, 2021. The Audit Committee discussed the reportable
events mentioned above with EY. EY is authorized to fully respond
to the inquiries of Yu Certified Public Accountant on the
reportable event.
Yu Certified Public Accountant is engaged to audit and report on
the consolidated financial statements of the Company for the year
ending December 31, 2022. During the Company's two most recent
fiscal years and through the subsequent interim period on or prior
to November 17, 2022, neither the
Company nor anyone on its behalf has consulted with Yu Certified
Public Accountant on either (a) the application of accounting
principles to a specified transaction, either completed or
proposed, or the type of audit opinion that might be rendered on
the Company's financial statements, and neither a written report
nor any was provided to the Company by Yu Certified Public
Accountant that Yu Certified Public Accountant concluded was an
important factor considered by the Company in reaching a decision
as to any accounting, auditing or financial reporting issue, or (b)
any matter that was the subject of a disagreement, as that term is
defined in Item 16F(a)(1)(iv) of Form 20-F (and the related
instructions thereto) or a reportable event as set forth in Item
16F(a)(1)(v) of Form 20-F.
The Company provided EY with a copy of the disclosures contained
in this Form 6-K, and has requested EY to furnish a letter
addressed to the Securities and Exchange Commission stating whether
EY agrees with the statements made by the Company in this
Form 6-K and, if not, stating the respects in which it
does not agree. A copy of such letter from EY is filed as
Exhibit A to this form 6-K.
The Company is working closely with EY and Yu Certified Public
Accountant to ensure a seamless transition. The audit committee
would like to express its sincere gratitude to EY for its
professionalism and quality of services rendered to the Company
over the past years.
About Kuke Music Holding Limited
Kuke is a leading classical music service platform in
China encompassing the entire
value chain from content provision to music learning services. By
collaborating with its strategic global business partner Naxos, the
largest independent classical music content provider in the world,
the foundation of Kuke's extensive classical music content library
is its unparalleled access to more than 900 top-tier labels and
record companies. Leveraging its market leadership in international
copyrighted classical music content, Kuke provides highly scalable
classical music licensing services to various online music
platforms, and classical music subscription services to over 800
universities, libraries and other institutions across China. In
addition, it has hosted Beijing Music Festival ("BMF"), the most
renowned music festival in China, for 24 consecutive years. Through
KUKEY, the Company's proprietary smart music learning solutions,
Kuke aims to democratize music learning via technological
innovation, bring fascinating music content and professional music
techniques to more students, and continuously improve the
efficiency and penetration of music learning in China.
For more information about Kuke, please
visit https://ir.kuke.com/
Exhibit A
November
17, 2022
Securities and Exchange Commission
100 F Street, N.E.
Washington, DC 20549
Ladies and Gentlemen:
We have read section Change of
Independent Registered Public Accounting Firm of Form 6-K
dated November 17, 2022, of Kuke Music Holding Limited and are
in agreement with the statements contained in the second sentence
of the first paragraph, and the second and fourth paragraphs
therein. We have no basis to agree or disagree with other
statements of the registrant contained therein.
/s/ Ernst & Young
Hong Kong, The People's Republic of
China
November 17, 2022
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SOURCE Kuke Music Holding Limited