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SMOUNT's high-quality financial outsourcing
services have been well-recognized by its clients as professional,
responsible, efficient and with high value. Hereafter are some
credentials for references.
CFO Services(1):
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Client background: Company A is a market
leader in retailing sector in mainland China. After several private
placements with worldwide financial investors, including one of the
top 3 investment banks in the world, the Company is now preparing
for its Initial Public Offering (^IPO ̄) in overseas capital market
in late 2008 or early 2009. Therefore, the Company needs more
professional management team in finance to improve its overall
corporate governance, internal control over financial reporting and
integration between finance department and other operation teams.
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Our services cover:
- Help the company enhance the financial reporting and internal
control functions of the finance department;
- Help the company set up and implement necessary financial analysis
functions and a series of management reports to facilitate
management's decision-making in business development; and
- Help the company optimize its internal information system,
standardize operation procedures to ensure the Company¨s fast and
healthy business expansion.
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After service: With Smount team (Smount
provided both CFO services and Accounting Restructuring services in
compliance with IPO requirements), the Company is able to accelerate
its IPO progress, together with its planned business expansion
speed, to take over more market shares.
CFO Services(2):
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Client background: Company B is an
overseas retailing company, which engages in the sales of a famous
U.S. sports brand. Since 2007, the Company has commenced to build up
a retailing network in China.
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Our services cover:
- Help the Company enhance the accounting and internal control
functions of the finance department;
- Help the Company set up and implement necessary financial analysis
functions and a series of management reports to facilitate
management's decision-making;
- Help the Company set up and implement a comprehensive budgeting
system- to better integrate the Company's resources .
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After service: With a more efficient
management team and useful analytical tools, the Company is able to
allocate its resources more appropriately for a faster business
development, together with a better control of its assets on hand.
With SMOUNT's help, the Company achieved its business expansion
target in 2007. And now, SMOUNT is acting as the Company¨s long-term
Financial Advisor.
Acted as Finance Department
to Takeover All Financial Functions (1):
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Client background:
Company C was founded in France in 1958 where the Company
is the market leader in botanical beauty care, affirming its status
as one of the world's foremost brands of plant-based beauty care
products. In 2004 the Company came to China for its local
production, purchase and sales.
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SMOUNT has provided
financial outsourcing services to this company for over 3 years.
And, the services include:
- Monthly bookkeeping and preparation of financial statements for
both PRC statutory filing and group reporting purposes;
- Help the Company supervise the daily operations of its logistic
service provider and retailing stores, with outputs like monthly
inventory movement report and sales report;
- Help the Company in the handling of tax-related matters, which
include monthly tax declaration, application and extension of its
general VAT taxpayer position, expatriate's Individual Income Tax ("IIT")
planning and filing etc.;
- Represent on behalf of the Company in government relationship and
communication, which includes annual filing of enterprise income
taxes, annual reporting to government agencies/departments etc.
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After service:
Company C achieved tremendous growth, from zero to 13 branches in
Shanghai, Beijing and Wuxi by the end of 2007, with total revenue
over RMB1.0 million a month.
Acted as Finance Department
to Takeover All Financial Functions (2):
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Client background:
Company D is a NYSE listed company which engages in the designing
and manufacturing of semiconductor products.
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Our services include:
- Help the Company in handling of daily cash disbursements, payroll
calculation and Individual Income Tax ("IIT") filing etc.
- Monthly bookkeeping and preparation of financial statements for
both PRC statutory filing and US group reporting purposes;
- Represent on behalf of the Company in tax-related matters, which
include monthly tax declaration, tax advisory services on and
Corporate Taxes etc.; and
- Represent on behalf of the Company in government relationship and
communications, which include the open or liquidation of any of its
subsidiary, representative offices in mainland China.
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After service:
SMOUNT is now acting as the national service provider in Finance for
the Company. And, as a result, the Company was able to grow rapidly
from 2 representative offices to 5 legal entities in mainland China,
due to its more focus able to be spent on the development of core
business in China.
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