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87 enterprises’ annual reports have problems and two accounting firms face risks 
http://news.esnai.com/33/2013/0506/89780.shtml
In the annual report of 2012, *ST Zhonghua A(000017)、*ST Xiancheng(600381) and Nine Dragon Tourism(600555) were appraised as “disclaimer of opinion”. The internal control audit report of Guitang (000833) was “adverse opinion”. The Chinese Institute of Certified Public Accountants(CICPA) pointed out the listed company’s “sustainable operation ability” for RSM China Certified Public Accountants and the problem of the annual report audit of the listed company experiencing asset reorganization for Union Power. Besides, in terms of the 2012 annual report audit progress, The CICPA has interviewed 7 companies, including Yong Tuo, Peking, Crowe Horwath, Grant Thornton, Reanda, Huayinwuzhou and PKF Daxin. 
The key parties of IPO interest chain offend each other openly for money for the first time 
http://news.esnai.com/33/2013/0509/89835.shtml
Due to the public relations expenses of RMB 6 million, Enjoy Finance was the first company raising the dispute, Er-Kang Pharmaceutical (300267) came to seek for solution passively and Western Securities (002673) claimed that it is the innocent one who is wept up in the incident. An open action of debt recovering based on the behaviors of the three companies who take the inside news of each other as the bargaining chip revealed the benefits and conflicts of the three key parties in the IPO process. 
Listed companies suffer 10 “high tax rates” and the taxes were 100 times as much as the net profit
http://news.esnai.com/33/2013/0504/89716.shtml
In 2012, all of the listed companies of A-shares enjoyed the net profit of RMB 1954.4 billion, less than 1% higher than the previous year. Their actual rate payment was RMB2223.3 billion, 17% higher than the previous year and 14% higher than the net profit. The net profit for the listed company’s shareholders and the expenses of various taxes and fees of Liaoning Huajin Tongda Chemicals Company Limited was RMB19.63 million and RMB2.128 billion respectively and there was no refunds of taxes, which indicated that the net disbursement of taxes and fees were 108.4 times as much as the net profit. Hareon Solar can be described as “a man who is tall, rich and handsome”. It enjoyed the refunds of taxes of RMB512 million and made the total payment of various taxes and fees of no more than RMB33 million. Therefore, its net income of taxes and fees topped RMB479 million which was 230.52 times as much as the net profit.
Note:
“China Accounting News Weekly”is established on August 5,2005.It selects important accounting news weekly to convenient the people can acknowledge the developments quickly.From its launching,thousands of people read it everyweek.In order to promote the development of China accounting industry to English readers,we make this English edition on March 23,2007.If there are any problems,please contact with qiaobocao@snai.edu.

87 enterprises’ annual reports have problems and two accounting firms face risks

 

http://news.esnai.com/33/2013/0506/89780.shtml

 

In the annual report of 2012, *ST Zhonghua A(000017)、*ST Xiancheng(600381) and Nine Dragon Tourism(600555) were appraised as “disclaimer of opinion”. The internal control audit report of Guitang (000833) was “adverse opinion”. The Chinese Institute of Certified Public Accountants(CICPA) pointed out the listed company’s “sustainable operation ability” for RSM China Certified Public Accountants and the problem of the annual report audit of the listed company experiencing asset reorganization for Union Power. Besides, in terms of the 2012 annual report audit progress, The CICPA has interviewed 7 companies, including Yong Tuo, Peking, Crowe Horwath, Grant Thornton, Reanda, Huayinwuzhou and PKF Daxin. 

 

The key parties of IPO interest chain offend each other openly for money for the first time

 

http://news.esnai.com/33/2013/0509/89835.shtml

 

Due to the public relations expenses of RMB 6 million, Enjoy Finance was the first company raising the dispute, Er-Kang Pharmaceutical (300267) came to seek for solution passively and Western Securities (002673) claimed that it is the innocent one who is wept up in the incident. An open action of debt recovering based on the behaviors of the three companies who take the inside news of each other as the bargaining chip revealed the benefits and conflicts of the three key parties in the IPO process. 

 

 Listed companies suffer 10 “high tax rates” and the taxes were 100 times as much as the net profit

 

http://news.esnai.com/33/2013/0504/89716.shtml

 

In 2012, all of the listed companies of A-shares enjoyed the net profit of RMB 1954.4 billion, less than 1% higher than the previous year. Their actual rate payment was RMB2223.3 billion, 17% higher than the previous year and 14% higher than the net profit. The net profit for the listed company’s shareholders and the expenses of various taxes and fees of Liaoning Huajin Tongda Chemicals Company Limited was RMB19.63 million and RMB2.128 billion respectively and there was no refunds of taxes, which indicated that the net disbursement of taxes and fees were 108.4 times as much as the net profit. Hareon Solar can be described as “a man who is tall, rich and handsome”. It enjoyed the refunds of taxes of RMB512 million and made the total payment of various taxes and fees of no more than RMB33 million. Therefore, its net income of taxes and fees topped RMB479 million which was 230.52 times as much as the net profit.

 

Note:

 

 “China Accounting News Weekly”is established on August 5,2005.It selects important accounting news weekly to convenient the people can acknowledge the developments quickly.From its launching,thousands of people read it everyweek.In order to promote the development of China accounting industry to English readers,we make this English edition on March 23,2007.If there are any problems,please contact with qiaobocao@snai.edu.

 

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