Asia
Sany Heavy Industry to Adopt China Accounting Standards
Sany Heavy Industry (HKG:6031, SHA:600031) will adopt China's Accounting Standards for Business Enterprises for preparing both its A-share and H-share financial reports starting with its interim results, according to a Wednesday Hong Kong bourse filing.The company said the move will unify its financial reporting under a single accounting standard, replacing the use of International Financial Reporting Standards for its H-share reports.It added that the change will not materially affect its financial position or results.Separately, Sany Heavy proposed terminating Ernst & Young's appointment as its H-share auditor and appointing the domestic auditor Ernst & Young Hua Ming to audit both its A-share and H-share financial statements.
HKG:6031SHA:600031
