In a filing to the Hong Kong stock exchange on Monday, March 21, Ronshine China Holdings Ltd. announced that its auditor had resigned.

The Chinese property firm said that PricewaterhouseCoopers (PwC) could not finish the 2021 Ronshine audited financial report by March 31, so Ronshine is going to release unaudited 2021 data instead.

The supply of requested information was behind schedule, which is one of the reasons for this delay. The company said that they are seeking a new auditor.

According to Bloomberg, the firm's dollar note due 2025 was traded at 13.4 cents on Monday, dropping 5.3 cents.

Under regulations, companies listed in Hong Kong must provide their yearly report by March 31. If they miss the deadline, they will face a possible suspension of their shares.