两家会计所月内遭50家A股公司解聘

Core Viewpoint - A significant number of A-share companies are changing their accounting firms due to issues related to two firms, Zhongxing Caiguanghua and Yongtuo, which are under investigation for involvement in financial fraud [1][3][12] Group 1: Company Actions - Over 50 A-share companies have terminated contracts with Zhongxing Caiguanghua and Yongtuo in the current month [1] - Companies such as International Industry, Zhengye Technology, and Jiecheng Co. have announced changes in their accounting firms [1] - Specific companies that have switched from Zhongxing Caiguanghua include ST Changfang, Tongniu Information, and Hangyu Micro, while those leaving Yongtuo include ST Shengxun and ST Jingang [2] Group 2: Reasons for Change - Companies cited the ongoing investigation of Zhongxing Caiguanghua as a reason for changing firms to avoid potential impacts on their 2025 audit work [1][3] - Yongtuo was penalized for its role in facilitating financial fraud for three companies, leading to its clients' decision to switch auditors [3][5] Group 3: Regulatory Environment - The regulatory environment remains stringent, with multiple companies facing penalties for financial misconduct, and intermediary firms being held accountable [1][10] - The China Securities Regulatory Commission (CSRC) has initiated investigations into the auditing practices of Zhongxing Caiguanghua and Yongtuo, emphasizing the importance of diligence in auditing [3][12] Group 4: Consequences for Accounting Firms - Zhongxing Caiguanghua is under investigation for failing to fulfill its auditing responsibilities, particularly in the case of ST Lifang, which reported inflated revenues of 638 million yuan from 2021 to 2023 [3] - Yongtuo has been fined over 65 million yuan and banned from providing securities services due to its involvement in fraudulent activities [5][12] Group 5: Client Relationships - Long-term clients of both accounting firms are rapidly severing ties, with some companies having worked with Zhongxing Caiguanghua for over five years [7] - Companies like ST Huizhou and Guomin Technology have switched auditors after initially planning to renew contracts with Zhongxing Caiguanghua [7][9]