Financial statements from China

Schmidt & Schmidt offers financial statements from China in electronic form and their translations into English.

According to law, commercial companies registered in China must submit annual financial statements.

Reporting of financial statements in the China is subject to the Accounting Act, Audit Act and other regulations.

Accounting standards in China are mostly based on the IFRS. However, some differences exist.

All Chinese companies file their financial statements to tax authorities. In addition, companies participating in stock exchange are obliged to file their statements to China Securities Regulatory Commission. Commercial companies must also publish their annual reports on special resources determined by authorities.

Annual reports must be filed until April 30th of the following year.

Full annual report includes:

• Basic information on the company
• Short description of the company’s products
• Short description of the nature of business
• Information on propriety
• Number of shareholders
• Financial statement

Financial statement includes:

• Balance sheet
• Profit and loss report
• Cash flow statement
• Notes
• Management report

NB: Financial statements of Chinese companies are not freely available. Some information on financial statements can be found in the trade register extract, but they are not available for every company. It is not possible to find out in advance whether a company’s financial statement is included in the trade register extract.

Financial statements provide detailed information about a company’s financial state, solvency and performance of an enterprise.

Depending on the company’s size, its financial statement can include up to several hundred pages.

Financial statements are provided by special authorized online resources.

Financial statements can provide valuable information about potential business partner which can be used for making decisions like purchasing capital shares or goods or taking legal action to collect debts.

Financial statements are provided in accordance with the legislation of China and legal requirements on personal data protection.

On our website, you can make a preliminary request if a certain company’s financial statements are obtainable.