The CSRC published its accounting supervision report on listed companies' 2025
annual financial reports. As of Apr 30, 2026, 5,517 listed firms had disclosed
2025 annual reports — Main Board 3,201; ChiNext 1,397; STAR Market 608; Beijing
Stock Exchange 311. Among companies that filed on time, 214 received
non-standard audit opinions: 109 received unqualified opinions with
emphasis-of-matter or going-concern paragraphs, 87 received qualified opinions,
and 18 received disclaimers of opinion.