Before you invest · acquisitions and joint ventures
You are buying or investing in a Chinese company and the accounts look fine. The question is whether they reflect reality. We test the areas where Chinese companies most often diverge from their reported numbers, and report in a format your investment committee can act on.
Timing
Diligence that starts after the term sheet is signed is diligence that cannot change the price. Earlier is cheaper and more useful.
A short review to decide whether the target is worth pursuing at all, and where the real risks sit.
The full review. This is the one that informs warranties, price adjustment and conditions.
Confirming nothing material has changed, and that conditions have been satisfied.
Scope of services
Written out in detail on purpose. If you are comparing firms, this is the list to put side by side with theirs.
Deliverables
Findings ranked by materiality, each with the evidence behind it and what it means for the deal.
Reported profit restated onto a sustainable basis, with every adjustment explained.
Tax, social insurance and other exposures estimated as a number, not just flagged as a risk.
Every related party we identified, the nature of the relationship and the balances involved.
What to ask for in the SPA: warranties, indemnities, price adjustment or conditions.
The questions worth putting to management, with what a good answer and a bad answer look like.
Process
Entity type, what has been requested, and when it is due. One email is enough to start.
We come back within one business day with a written scope, a fixed fee and dates.
One document request list. We work from it, and visit site only where the work genuinely needs it.
Signed output in English or bilingual, plus support through whatever filing follows.
Fees
Fixed, in writing, before fieldwork starts. The drivers below are the ones that actually move the number — we tell you which of them apply to you in the first reply, not after you have signed.
FAQ
It depends on the size of the target and how accessible the records are. We give you real dates in the first reply rather than a generic range.
Yes, where the target produces documents quickly. The usual delay is document access, not the work itself.
Tell us what is missing and we will say what we can still conclude, what we cannot, and what that gap is worth. An honest gap list is more useful than a clean report built on assumptions.
Yes. The report is written in English for your investment committee, and we can present it on a call if your committee wants to ask questions.
Yes, as standard, and before any documents change hands.
Sector, size, and where you are in the process. We will tell you what a review would cover and what it would cost, before you commit to anything.