Graphjet restates FY2023 financials after accounting policy change on IP valuation

GRAPHJET TECHNOLOGY

Board concluded FY2023 financials audited by Adeptus Partners should no longer be relied upon.
Restatement reclassifies IP assignment from former CSO Mr. Liu as related-party, valued at cost under ASC 850-10-20.
Current auditor Kreit & Chiu CPA re-audited and restated the FY2023 statements.
Company expects to file FY2024 10-K before Nasdaq hearing on July 17, 2025.

item 4.02item 9.01

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