Guolian Revises Financial Statements to Reflect Lower Shareholder Income
SEAFOODNEWS.COM [CFI Net] Translated by Amy Zhong April 25, 2016
Guolian, one of the major Chinese shrimp producers in Zhangjiang Province, has revised its financial statements.
This revision report is the initial auditing result by Guolian’s hired accounting firm of the company’s performance report in 2015. There may be some difference between this auditing report and the company’s final performance report. Investors need to be cautious about investment risks.
Following are some of the data which need to be revised in the original report.
On February 26, 2016, Guolian has published its performance review for 2015 on relevant websites in accordance with requirements of China Securities Regulatory Commission. In that report, the company’s gross revenue is said to be 2,061,267,833.61 yuan, declining by 3.20% from that of the same period last year. The total profit is reported to be 19,577,719.11 yuan, dropping by 92.71%, while the net income attributable to shareholders decreases by 94.52% to reach 12,319,917.71 yuan.
However, the accounting firm’s auditing has revealed that its gross revenue..
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