THE FIRST B-share company in Shenzhen, China Southern Glass, will announce annual results based on the International Accounting Standard next week.
The publication of annual reports for many B-share companies in Shanghai last month prompted criticism from international brokers, who claimed they contained incorrect information.
However, China Southern Glass pledged the results in its annual report on B-shares would be prepared according to international accounting rules.
''In Shenzhen, we have tough regulations in the B-share market because we're so close to Hongkong and we've learned the international practices,'' said Mr Richard Liang Yong, an official of the company's securities division.
China Southern Glass published its results for local investors, based on Chinese accounting procedures, on March 3.
Turnover for 1992 was 210 million yuan (HK$283 million), up 90 per cent over the previous year. Profit after tax was 61 million yuan, an increase of 138 per cent.
Mr Liang said B-share profits should be between 52 million and 55 million yuan, 10 to 15-per cent lower than that for A-shares.