This is the last article of the three interpretations of disclosure guidelines issued by Shanghai Stock Exchange(SSE) and Shenzhen Stock Exchange(SZSE) for manufacturing sector. In this article, we will continue to interprete the core disclosure requirements for 9 sectors regarding to 5 sub-manufacturing industries including furniture, chemical raw materials, chemical products, textile and garment, clothing, electrical machinery and equipment, computer, communications, and other electronic equipment and etc.
 
Listed companies should comply with following requirements while disclosing business information in their annual report:

• disclosure of industry-classified information should be complete
• sufficient explanation should be given to both financial and non-financial information
• risks of industry business information should be disclosed clearly
• required information that are not available should be explained

 
Auditors should comply to requirements of China Certified Public Accountant Audit Standards No. 1521 and No. 1504 to recognize if there is discrepancy in annual report compiled by management team of listed companies, disclosure of specific business information and its corresponding financial information and the actual situation learnt during the audit period; auditors should judge the key audit issues and provide enough information to help prospective users of financial statements to learn auditees and their key focus.
 
Grant Thornton’s industry study focuses on disclosure requirements from perspectives of authorities, listed companies as well as auditors. This is the fourth Issue of this series, and in next article we will look at information transmission, software and information technology sector.
 
Please read the Chinese version to learn more.