CXJ Group Co., Limited filed a Form 8-K on November 12, 2026, disclosing the resignation of its independent registered public accounting firm, J & S Associate PLT., and the appointment of WSJ and Partners as its replacement.

Key Highlights

  • Resignation date: J & S Associate PLT. notified the company of its resignation effective immediately on November 4, 2026.
  • New auditor appointed: The board approved WSJ and Partners as the new independent registered public accounting firm on November 5, 2026, for the fiscal year ending May 31, 2027.
  • Going concern language: Each J&S audit report for fiscal years ended May 31, 2024, May 31, 2025, and May 31, 2026 included an explanatory paragraph citing "substantial doubt about the Company's ability to continue as a going concern."
  • No disagreements reported: The filing states there were no disagreements with J&S on accounting principles, financial statement disclosure, or auditing scope for the fiscal years ended May 31, 2024, 2025, and 2026.
  • Material weaknesses disclosed: Three previously reported material weaknesses in internal control over financial reporting were noted, including lack of procedures for related-party transactions, inadequate controls for business combination accounting, and no audit committee financial expert on the board.
  • No prior WSJ consultation: According to the filing, neither the company nor anyone acting on its behalf consulted WSJ on accounting or auditing matters during the two most recent fiscal years prior to its engagement.

CXJ Group Discloses Auditor Transition Amid Ongoing Going Concern Findings

According to the Form 8-K filed November 12, 2026, J & S Associate PLT. informed CXJ Group Co., Limited of its resignation as independent registered public accounting firm on November 4, 2026, with immediate effect. The company disclosed that the board of directors approved the resignation and expressed its thanks to J&S for its services. One day later, on November 5, 2026, the board approved the appointment of WSJ and Partners to serve as the company's new independent registered public accounting firm for the fiscal year ending May 31, 2027, including two quarters' reports for 2027.

The filing states that J&S's audit reports on the company's consolidated financial statements for fiscal years ended May 31, 2024, May 31, 2025, and May 31, 2026, dated November 8, 2024, September 15, 2025, and September 11, 2026, respectively, did not contain any adverse opinion or disclaimer of opinion and were not qualified or modified as to uncertainty, audit scope, or accounting principles. However, each report included an explanatory paragraph noting "substantial doubt about the Company's ability to continue as a going concern."

The filing also identifies three material weaknesses in internal control over financial reporting that were disclosed in the company's Annual Reports on Form 10-K for fiscal years ended May 31, 2024, 2025, and 2026: lack of well-established procedures to identify, approve, and review related-party transactions; inadequate design of controls related to business combination transactions accounting; and the board's lack of a director qualifying as an audit committee financial expert as defined in Item 407(d)(5)(ii) of Regulation S-K. The securities registered pursuant to Section 12(b) of the Act are listed in the filing as "None." The filing was signed by Lixin Cai, Chief Executive Officer and Director.

What Was Disclosed

CXJ Group Co., Limited reported the November 4, 2026 resignation of auditor J & S Associate PLT. and the November 5, 2026 board approval of WSJ and Partners as its replacement, along with disclosures of going concern opinions and three standing material weaknesses in internal controls.