Connect Biopharma Holdings Limited: Auditor Change & Leadership Transition Report 2024

Here are the key insights extracted from the financial report section:

1. Change in Auditor:

• The Audit Committee of Connect Biopharma Holdings Limited appointed CBIZ CPAs P.C. as the new independent registered public accounting firm on December 17, 2024.
• The previous auditor, PricewaterhouseCoopers Zhong Tian LLP (PwC China), was dismissed on December 10, 2024.

2. Audit Reports:

• PwC China’s reports for the fiscal years ending December 31, 2023, and 2022, did not contain any adverse opinions, disclaimers, or modifications regarding the audit scope or accounting principles.

3. No Disagreements:

• Throughout the fiscal years ended December 31, 2023, and 2022, and up to December 10, 2024, there were no disagreements between Connect Biopharma and PwC China on accounting principles or practices, financial statement disclosures, or auditing procedures.

4. Consultation with New Auditor:

• During the fiscal years noted, the Company did not consult CBIZ on accounting principles, audit opinions, or any matters that would qualify as disagreements or reportable events.

5. Disclosure and Compliance:

• The Company provided PwC China with a copy of the disclosures in this report and requested a letter addressing whether PwC agrees with the statements made. PwC's response is included as Exhibit 16.1.

6. Resignation of Board Members:

• On December 11, 2024, two board members, Zheng Wei, Ph.D. and Wubin Pan, Ph.D., MBA, resigned as part of a leadership transition to pursue new opportunities.

7. Regulatory Filings:

• The Company intends to use this Form 6-K to meet its reporting obligations under Item 16F of Form 20-F for the year ending December 31, 2024, and plans to incorporate Exhibit 16.1 by reference into its Form 20-F.

8. Signature and Authorization:

• The report was signed by David Szekeres, President of Connect Biopharma Holdings Limited, on December 23, 2024.

These points summarize the critical changes in the auditing process, the leadership transition within the Company, and compliance with SEC reporting requirements.