open letter to deloitte re tianhe chem

8/11/2019 Open Letter to Deloitte Re Tianhe Chem

1/9

13 October 2014

BY EMAIL

Deloitte Touche Tohmatsu

35/ O!e "aci#ic "lace

$$ %uee!s&a'

(o!) *o!)

a+, $52 2541 1-11

.oseh Lo

Deloitte hi!a hairma!.oloeloittecomh

hris Lu

Deloitte hi!a EO

chrislueloittecomh

*ester Yue!

Ma!a)i!) "art!er o# outher! 6e)io!

es'ue!eloittecomh

RE: OPEN LETTER TO DELOITTE TOUCHE TOHMATSU REGARDING TIANHE CHEMICALS GROUP LTD.

Dear Deloitte Touche Tohmatsu7

As 'ou are a&are7 &e ha8e ublishe se8eral reorts o! our &ebsite etaili!) e+te!si8e e8ie!ce that suorts

our 8ie& that Tianhe Chemicals Grou L!"91:1-(*; has e!)a)e i! #rau i! co!!ectio! &ith its I"O b' )rossl'

misrerese!ti!) the si


2/9

I! reso!se to our a!al'sis a! co!clusio!s co!tai!e i! our reorts7 Tia!he@s Ma!a)eme!t team has release

se8eral clari#icatio! a!!ou!ceme!ts 8ia the (o!) *o!) toc E+cha!)e =e belie8e that i! mai!) these

clari#icatio! a!!ou!ceme!ts7 Tia!he has mae stateme!ts that are co!traictor' to re8ious rerese!tatio!s7

as &ell as to the Deloitte?auite AI #ili!)s a! #i!a!cial stateme!ts7 a! that Tia!he has !o& bace itsel#

i!to a cor!er a! ca!!ot ee u &ith all the lies it is telli!)

Let us e+lai!,

I! its $ October clari#icatio! a!!ou!ceme!t7 Tia!he claime to ha8e obtai!e ta+ co!#irmatio!s #rom Liao!i!)

Yi ou!t' tate Ta+ Bureau a! u+i! it' (ai


3/9

#irs!$ a! most imorta!t7 &e ha8e co!clusi8e e8ie!ce that the ta+ co!#irmatio! obtai!e #or .i!


4/9

(o&e8er7 accori!) to the Deloitte?auite co!soliate a! sta!alo!e cash #lo& stateme!t7 the amou!t o#

total ta+es ai &as #ar less,

There is !o ambi)uit' that the li!e item @@ &hich mea!s @all ta+es ai@ i!clues AT7 i!come

ta+es7 a! all local ta+es2

There#ore7 accori!) to Deloitte7 .i!


5/9

Secon"$ &e !ote that the @i!come ta+@ !umbers #or .i!


6/9

B' 30 .u!e 20127 Yi ou!t' tate Ta+ Bureau ha collecte all ta+ i!come o# 6MB14 millio!7 &hich &as 522

o# the &hole 'ear@s la!!e ta+ collectio!,

ource,htt,//&&&l!)o8c!/


7/9

As the auitor that si)!e o## o! these #ili!)s7 &e resect#ull' su))est that 'ou co!sier 'our ositio! i! li)ht o#

these ob8ious iscrea!cies =e reJuest that 'ou a! 'our auit teams care#ull' stu' the issues &e ha8e

raise i! this letter a! i! our re8ious reorts a! be reare to mae the har ecisio!s &e belie8e 'ou

must mae o! behal# o# i!8estors a! the i!te)rit' o# the )lobal caital marets I# &e are correct that Tia!he

is a #rau a! Deloitte #ails to i!#orm i!8estors a! re)ulators o# this ris7 Deloitte ma' also be hel liable i!

courts o# la& a! i! the court o# )lobal ublic oi!io! i! the e8e!t o# Deloitte>s #ailure

You ma' co!tact us #or aitio!al i!#ormatio! at this email, a!o!a!al'tics!eomailbo+!et

i!cerel'7

A!o!'mous A!al'tics

7
mailto:[email protected]:[email protected]


8/9

Aen"i,: Tianhe-s Resonse !o our #irs! Poin!

=e susect that Tia!he &ill reso! b' claimi!) that AT ta+es are !ot sho&! o! the i!come stateme!t This is

true7 but the' are clearl' sho&! o! the cash #lo& stateme!t7 a! this is a basic accou!ti!) ri!cile e8er' e!tr'?

le8el accou!ta!t shoul !o&7 i!clui!) the auitors at Deloitte

(o&e8er7 to ri8e home the oi!t7 &e cite a)es 44 a! 45 o# the te+tboo title hie# Ta+ O##icerF ublishe

b' Tsi!)hua !i8ersit' "ress i! 2005 a! authore b' (e hio!) 9IBC 3020-$007 -$3020-$0:;,

This te+t clearl' e+lai!s that all ta+esF i!clues AT ta+es A seco! source o# i!#ormatio! is here,htt,//&&&chi!aacccom/!e&/:35G:4-G/200-G$G12Gle005121$-0020shtml

urthermore7 there are a!' !umber o# liste hi!ese coma!ies that ro8ie e+amles o# this ri!cile,

Ce& Material 9:00:3:,; reorts i!come stateme!t ta+es o# 6MB4$ millio! i! 2012 a! 6MB33 millio! i!

2013 (o&e8er7 its cash #lo& stateme!t reorts total ta+es ai o# 6MB213 millio! i! 2012 a! 6MB11$ millio!

i! 2013

$
http://books.google.com.hk/books?id=Kpd5ZMmV1hsC&pg=PT24&lpg=PT24&dq=%E6%94%AF%E4%BB%98%E7%9A%84%E5%90%84%E9%A1%B9%E7%A8%8E%E8%B4%B9+%E5%A2%9E%E5%80%BC%E7%A8%8E&source=bl&ots=KoAQWU6jJf&sig=fw6NavHGoPcJvw41SHnwYtuRnJo&hl=zh-CN&sa=X&ei=Lsg4VOT-FMPM8gXf3oDIDw&redir_esc=y#v=onepage&q&f=falsehttp://www.chinaacc.com/new/635_649_/2009_8_12_le0075121890020.shtmlhttp://books.google.com.hk/books?id=Kpd5ZMmV1hsC&pg=PT24&lpg=PT24&dq=%E6%94%AF%E4%BB%98%E7%9A%84%E5%90%84%E9%A1%B9%E7%A8%8E%E8%B4%B9+%E5%A2%9E%E5%80%BC%E7%A8%8E&source=bl&ots=KoAQWU6jJf&sig=fw6NavHGoPcJvw41SHnwYtuRnJo&hl=zh-CN&sa=X&ei=Lsg4VOT-FMPM8gXf3oDIDw&redir_esc=y#v=onepage&q&f=falsehttp://www.chinaacc.com/new/635_649_/2009_8_12_le0075121890020.shtml


9/9

*&eicho& Moutai 9:0051-,; reorts i!come stateme!t ta+es o# 6MB4 billio! i! 2012 a! 6MB55 billio! i!

2013 (o&e8er7 its cash #lo& stateme!t reorts total ta+es ai o# 6MB102 billio! i! 2012 a! 6MB125 billio!

i! 2013

Lubei hemical 9:002,; reorts i!come stateme!t ta+es o# 6MB21 millio! i! 2012 a! 6MB- millio! i!

2013 (o&e8er7 its cash #lo& stateme!t reorts total ta+es ai o# 6MB: millio! i! 2012 a! 6MB53 millio! i!

2013

As is lai!l' ob8ious #rom the abo8e e+amles a! te+tboo e+certs7 all ta+es7 i!clui!) i!come ta+es7 AT

ta+es7 a! local ta+es are rerese!te i! the cash #lo& stateme!ts

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open letter to deloitte re tianhe chem

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