If the annual report of listed companies is issued with non-standard opinions, it will have a series of chain consequences, and refinancing may be blocked. According to the provisions of the Measures for the Administration of Securities Issuance of Listed Companies, if the financial statements of listed companies in the last three years and the latest period are issued with qualified opinions, negative opinions or audit reports that cannot express opinions by certified public accountants, they will lose their qualifications for public offering, allotment and issuance of convertible bonds.
It can be seen that once the financial statements of listed companies are issued with non-standard opinions, their refinancing ability (except private placement) will cease to exist for at least three years. This will definitely have a great impact on the healthy and rapid development of listed companies, and investors should fully estimate this.