Eight Shenzhen Stock Exchange listed company disclosure issues.

Shenzhen <P> board the sustainability of corporate earnings growth remain uncertain. .This is the Shenzhen Stock Exchange regulators review the 2007 Annual Report, found that one of the eight. .</ P> <P> press 1 from the Shenzhen Stock Exchange was informed that Main Board companies in Shenzhen in 2007, although the overall performance significantly improved, but the composition of the total profit, net operating income increased from 1.79 in 2006 .% significantly increased to 8.96% in 2007, showing the main business impact on corporate earnings are weakening significantly enhance the performance of listed companies and investment income, operating income and the contribution of non-recurring gains and losses closely related. .Main business is absolutely extraordinary amount of growth, in part because major shareholders after the share reform to bring high-quality assets into the listed company's corporate scale. .This growth is largely an epitaxial growth, quality of growth needs to be improved. .</ P> <P> It is understood that other problems include: corporate governance needs further improvement, there are 52 independent directors attendance rate below 90% independent directors oppose or abstain from the total number of views is not only table the resolution .to 1%, with 40 companies not yet have an audit committee, audit committee participation in the low number of corporate decision making, only comment on an annual average of less than 3 times, and only a company's audit committee has published two times negative opinion, all other opinions .is in favor. .</ P> <P> Accounting Standards Executive not standardized, there are some listed companies will be a special non-recurring gains and losses included in recurring profit and loss items, some associated with debt restructuring, the company recognized revenue at random, a few companies in order to "security card" .(recovery listed) or "Reaching for the Stars" (to avoid suspension of listing), assault with related parties at the end of debt restructuring, debt concessions and related parties charged to operating income, in order to achieve the purpose of profit. .</ P> <P> accounting policies, accounting estimates and correction of accounting errors and more, thereby affecting the investors expected the company and judge the stability of the situation. .Shenzhen board has 28 listed companies accounting errors or the existence of changes in accounting estimates. .6 of them listed company changes its accounting estimates and reduce the annual profit of about 37.5 million yuan in 2007, and the remaining 22 companies accounting errors exist, for a total reduction of equity in 2006 of about 100 million yuan. .</ P> <P> part of the company fails to clearly disclose the requirements of every director, supervisors and senior management pre-tax total compensation, 196 listed companies disclose in their annual reports is not clear whether the pre-tax pay salaries, .part of the company during the reporting period to the outgoing directors, supervisors and senior management not to disclose the salary. .</ P> <P> Some companies disclose the existence of actual control problem of incomplete or incorrect, there are 25 companies disclose only the actual control to the collective enterprise level, the real control is unknown; part of the company disclosed a large .Shareholders holding a loop mode, its equity is difficult to be traced back to the ultimate level of control people. .</ P> <P> disclosure of internal control to be standardized, there are 37 companies did not seek disclosure of internal control evaluation report. .A considerable part of the company focus on internal control exists in the disclosure form, light content, disclosure of the problem formulation, and there are evasive tendencies. .At the same time, the audit agency to verify the company's evaluation of internal control of the situation is to be gradually standardized. .</ P> <P> the implementation of equity incentive problems remain, not in accordance with the requirements of individual companies, according to the fair value of shares granted to employees, the correct calculation of the costs or expenses, the implementation of equity incentive not fully estimate the impact on performance, investment .by the formation of misleading. .Meanwhile, the implementation of equity incentive management fees of listed companies increased substantially over the same period, equity incentives of the "double-edged sword" effect appears, resulting in an annual loss of individual companies. .</ P> <P> Shenzhen Stock Exchange, said regulators will also be under review, the disclosure of the profit warning delay, diversion of funds raised, issues such as illegal use of funds and related companies responsible for processing. .As of May 30, the Shenzhen Stock Exchange listed company issued a total of 214 various types of letter of inquiry, and urged 47 companies to report a major omission or error in the published annual reports to supplement or correct the notice of 61 copies. .</ P>.