Thursday, April 15, 2021
Martin Hennecke

100 firms miss earnings deadline
Nearly 100 listed companies did not announce last year's annual result as the Covid-19 pandemic hampered the audit process. BDO said that the operating conditions of listed companies last year were affected by the epidemic and auditors may need to make additional or special considerations. The Covid-19 situation in some countries and local travel curbs during the audit period in the first quarter affected the auditor's review of overseas or mainland businesses, making the overall review more time-consuming, it said. If the pandemic does not ease, it may further affect listed companies with year ending in March and June, but the impact is believed to be minor, as listed companies in Hong Kong mainly use end-December as the annual year end. The suspension of trading in response to the delay in the annual results is a joint decision between the company and the regulators, but it must meet the requirements of providing management accounts and the expected date of result announcement. GCL-Poly Energy (3800) yesterday said it further delay the publication of full-year results.
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