Can a subsidiary of a listed company holding 20% of its shares consolidate its statements?

Under normal circumstances, subsidiaries are no longer included in the consolidated statements of the head office, which will lead to the risk of deterioration of the performance of the shares of the head office. There is no difference between a consolidated report and an individual report, because it has no control and will not be included in the consolidated report unless there are special circumstances. Because the shareholding ratio is below 20%, it does not have a significant impact, so the long-term equity investment account is accounted for by the cost method. Net profit and net assets do not reflect. Dividends are recorded as investment income.