Interview with whom to learn from Chen Xiangdong: Deloitte adds non-routine audits to education companies

Interview with whom to learn from Chen Xiangdong: Deloitte adds non-routine audits to education companies
“There are always exceptions to the principle!”On the morning of April 8, Chen Xiangdong made a decision “violating his own principles.”  Recently, the situation of China’s stock market has been frequent, and Ruixing Coffee has admitted its financial problems after exposing its financial fraud.In fact, the short-selling agency noticed that Iqiyi was in attendance, and who learned the short-selling from the second month attracted attention again.  At 10 o’clock in the morning on April 8th, he updated a status in the circle of friends as a response to “who is learning to be short”.In the morning, many friends wake up with “explosive news” greetings, “I’m very stunned. We understand that trust between people is very fragile, not to mention the trust of people between countries.”He is outstanding, and integrity has never changed since the start of the business.  Under the advice of investors, the company’s brand department and various media, Chen Xiangdong consulted the company’s lawyers and decided to connect with the media communication meeting at 3 pm after more than an hour.This violates the principles he has set for himself, but “there are always exceptions to the principles.”After the meeting, Chen Xiangdong who was the founder, chairman and chief executive of the company accepted an exclusive interview with Sauna Ye.com on short-term short-selling events and the impact of the Chinese stock market.  Sauna Night: Similar to the sequelae caused by the short sale of the Chinese stock market, everyone is also worried that after Ruixing Coffee ‘s financial fraud, the US will more strictly require Chinese companies to go public in the United States. Will this affect China that will go public in the future?enterprise?  Chen Xiangdong: It is estimated that the subsequent listing of Chinese stocks will have an impact, especially those companies whose early estimates are too high and are not profitable so far. There are many companies that are in the B business. The listing will face challenges.Audit institutions have also raised higher requirements.  As far as I know, after learning who was short, Deloitte added a lot of audits outside of our routine procedures.Most of the leading education companies in China are audited by Deloitte, so Deloitte will also conduct more strict audits on other companies, so I am very proud to say that Deloitte ‘s audit has put a lot of investment in us. TheyThe more we review, we also feel that it is a company with very different cultures and really worth trusting.  Sauna Night Net: Has it been intensively strengthened in recent days?  Chen Xiangdong: Actually we asked for it actively. After the Ruixing Coffee incident came out, we discussed with Deloitte. In the next quarter’s financial report, we added a manual audit.Later, we gave the team a meeting and said that any data that the auditor wants, we are fully open, frank, and trust them like family members.  In fact, we released the 2019 annual report on April 3, from another perspective, if our company has minor problems, Deloitte is afraid to sign it, and the annual report cannot be issued that day.Even so, Deloitte has also issued us the highest quality unqualified audit report.  Sauna Nightnet: This epidemic has made online education more popular. What impact will it have on whom to learn from and the online education industry?  Chen Xiangdong: I once said that 200 million elementary and middle school students have to take online courses, and online courses. China has a 200 billion dollar online education market.Therefore, the impact of crisis and disaster on education, especially online education, is difficult to estimate.  I think the Chinese nation has been civilized for thousands of years, and many industries have been reorganized, but the education industry has not been changed from private school to the final class teaching, but this time online education has really solved the new model of education, I think the world willRecognize this problem.  Sauna, Ye Wang Jin Yu Chen Weicheng Editor Wang Jinyu Sun Yong proofreading Xue Jingning