What Is a Reconciliation Report?

The annual report refers to the company's financial report and other related documents for the entire fiscal year. Article 57 of the "Interim Regulations on the Administration of the Issuance and Transaction of Stocks" issued by the State Council stipulates that listed companies shall provide annual reports audited by certified public accountants to the CSRC and securities trading venues. The No. 2 Content and Format Guidelines for Information Disclosure by Publicly Offered Stock Companies issued by the China Securities Regulatory Commission, "Contents and Formats of Annual Reports," provides detailed regulations on the information that should be disclosed in a company's annual report.

annual report

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Annual report refers to the entire company

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Company law requirements

The annual report should include the following:

(1) Company profile;

(2) Brief description of the company's main products or main service items;

(3) Brief description of the company's industry;

(4) Brief information on the important factories, mines, real estate and other properties owned by the company;

(5) The company's issuance of foreign shares, including the list of shareholders holding more than 5% of the company's issued common shares and the list of the top 10 largest shareholders;

(6) the number of shareholders of the company;

(7) Profiles, shareholdings and remuneration of company directors, supervisors and senior management personnel;

(8) A checklist and profile of the company and its affiliates;

(9) For the past three years or since the establishment of the company

(1) Contained

Article 15 of the "Implementation Rules for the Information Disclosure of Publicly-Stocked Companies" issued by the China Securities Regulatory Commission stipulates that the company shall prepare and complete the annual report within 120 days after the first accounting year. After the report is completed, it shall be submitted to the Securities Regulatory Commission for 10 filings, and at least 20 working days before the annual shareholders meeting is held, and a summary of the report not exceeding 5,000 words shall be published in at least one national newspaper designated by the Securities Regulatory Commission. Keep the annual report at the company's location, the place where the securities are traded, the relevant securities business institutions and their outlets for public inspection.

When analyzing annual reports, it is important to use the comparative method, which generally includes:

1. The actual indicators in this period are compared with the actual indicators in the previous period. There are two ways of comparison: one is to determine the amount of change in increase or decrease; the other is to determine the rate of change in increase or decrease. Calculated as follows:

Change amount of change = actual index in this period-actual index in previous period

Change rate of increase or decrease (%) = (Number of change of increase / decrease / actual indicators in the previous period) * 100%

2. The actual indicators in this period are compared with the expected targets. This can assess the completion of the company's managers' entrusted responsibilities, and the expected goals have been completed well, which indicates that the company's managers have successfully grasped the market; compared with the long-term planning, the possibility of achieving the long-term goal is analyzed. However, in conducting such a comparison, it is necessary to check the rationality and advancedness of the plan goals themselves, otherwise the comparison will lose its objective basis.

3. The actual indicators of this period are compared with similar indicators of similar companies. In order to clearly understand the position of the listed company in the industry, at the same time analyze the performance of the situation.

In general, when analyzing the annual report, we will notice the size of the net value. The larger the net value, the better the company's operating conditions. At the same time, we should also pay attention to the ratio of net value to fixed assets. The net value is greater than the fixed assets, indicating that the company's financial security is high. Since the current assets after deducting the current liabilities are the operating capital, the larger the number, the more operating capital the company has at its disposal. Also pay attention to the relationship between debt and net worth. When the ratio of debt to net worth is less than 50%, it indicates that the company's operating conditions are still good.