Microvast Holdings, Inc. (MVST): auditor change — Microvast restates Q2 and Q3 2024 results on Clarksville impairment error

Microvast Holdings, Inc.

Audit committee concludes Q2 and Q3 2024 financials no longer reliable due to errors in impairment of Clarksville, TN facility.
Company is reassessing the impairment recorded as of June 30, 2024; full impact on internal controls still under review.
May identify one or more material weaknesses in internal controls related to the impairment error.
Discussed matter with independent auditor Deloitte Touche Tohmatsu; restatement process ongoing.

item 4.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Auditor Changes SEC 8-K Item 4.01/4.02 confidence 0.95

Microvast Holdings, Inc. reported that prior financial statements should not be relied upon.

Action: non reliance

Exact text from the filing

On March 16, 2025, the Audit Committee of the Board of Directors of Microvast Holdings, Inc. (the “Company”), after consultation with the Company’s management and its accounting advisors, concluded that the previously reported financial statements as of and for the quarterly periods ended June 30, 2024 and September 30, 2024, should no longer be relied upon due to errors in such financial statements.

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Source: SEC EDGAR

accession 0000947871-25-000325

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