192 A-share companies' annual reports are labeled as "non-standard"; CSRC will strengthen financial disclosure supervision.

On August 15, the China Securities Regulatory Commission issued a regulatory report on the accounting supervision of annual financial reports of listed companies for the year 2024. The report pointed out that as of April 30, 2025, a total of 5,413 listed companies in the A-share market had disclosed their 2024 annual financial reports, including 3,185 on the main board, 1,377 on the ChiNext board, 586 on the STAR Market, and 265 on the Beijing Stock Exchange. Among the listed companies that disclosed their annual financial reports on time, 192 companies received non-standard audit opinions, including 56 with unqualified opinions with emphasis-of-matter paragraphs, 35 with unqualified opinions with going concern paragraphs, 8 with unqualified opinions with both emphasis-of-matter and going concern paragraphs, 72 with qualified opinions, and 21 with disclaimer of opinion. The China Securities Regulatory Commission organized special teams to randomly review the annual financial reports of listed companies for the year 2024, based on which the "Accounting Supervision Report on Listed Companies' 2024 Annual Financial Reports" was formed. Overall, listed companies were able to adhere to accounting standards and financial disclosure rules relatively well, but some companies still had accounting treatment or financial disclosure errors in areas such as revenue, long-term equity investments and business combinations, financial instruments, impairment of assets, and non-recurring gains and losses. To address these issues, the CSRC will continue to do the following: firstly, follow up on the accounting information disclosure issues identified in the review of listed companies and strictly carry out subsequent regulatory measures according to regulations. Secondly, further strengthen the supervision of financial report information disclosure, continuously improve the regulatory mechanisms, and enhance regulatory efficiency. Thirdly, address market hotspots and difficult accounting issues, strengthen practical guidance, and continuously improve the consistency and effectiveness of implementing accounting standards and financial disclosure rules in the capital market. Listed companies and accounting firms and other intermediary institutions should pay close attention to the issues raised in the accounting supervision report, promptly correct any errors in financial reports, further enhance their understanding and compliance with accounting standards and financial disclosure rules, and conscientiously and prudently carry out relevant work on financial report information disclosure for listed companies, continuously improve the quality of accounting information disclosure, and promote high-quality development of the capital market. This article is compiled from the official website of the China Securities Regulatory Commission; GMTEight editor: Chen Xiaoyi.