Translated by:TokyoSakura

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As Sina.com reported, as of April 21, there are 9 days left before the closing period of 2021 annual report disclosure for A-share listed companies.

But some companies in Hong Kong have already passed the closing period of annual report disclosure and still have not published their audited annual reports, including China Evergrande, Sunac China and Shimao Group.

A total of 9 real estate companies’ annual reports are still difficult to produce. From April 1 till now, these enterprises are still suspended from trading, causing concern in the industry.

For the listed enterprise, for the delay in the annual report, “Securities Daily” reporter observed, from the current enterprise statement to summarize the common for three reasons as below.

Firstly, the Chinese mainland and Hong Kong area, caused by the recent outbreak of the COVID-19 pandemic, caused trip, logistics and other limitations, cannot finish audit procedures, such as Banks, customers and suppliers such as letter of certificate program.

Secondly, the audit process that requires on-site inspection is delayed, such as interviews for partners and financial institutions, voucher inspection, etc.

Thirdly, many real estate enterprises were resigned as auditors by accounting firms before the performance announcement, resulting in the company having to temporarily replace the audit institution.

For example, PricewaterhouseCoopers has resigned as auditors of many real estate enterprises.

However, there are also housing enterprises even after the replacement of audit institutions, still unable to publish audited annual report data.

resourcehttps://finance.sina.com.cn/roll/2022-04-22/doc-imcwiwst3268475.shtml

Edited by:TokyoSakura
Posted by:TokyoSakura/平安卿卿