Tiancheng has merged with Guangdong Hengxin Delu Certified Public
Accountants. The combined entity will be known as BDO Guangdong
Dahua Delu CPAs and will remain headquartered in Shenzhen, with
offices located throughout the southern China region, including
Zhunai and Nanchang.
Annie Kong, audit manager of BDO Guangdong Dahua Delu CPAs, said
the merger allows the firm to provide more services to
international clients that it otherwise couldn’t offer. “Before the
merger we didn’t have branches in some areas that our overseas
clients would have liked. We now have branches in different cities
so our network has extended and we are able to offer more to these
clients,” she said.
Kong said that BDO’s approach to the market was a notable reason
for the merger. She said joining BDO allows individual members to
retain their independent expertise, while being able to leverage
the talent, quality control and clients of the world’s fifth
largest international network.
The merged firm will have about 500 staff, including 15 equity
and 22 salaried partners. Kong predicts the move has placed the
firm as the fifth biggest in the nation in terms of a staff head
BDO Guangdong Dahua Delu CPAs’ revenue for 2007 was CNY120
million ($17.5 million) and is projected to reach CNY150 million
($22 million) for its 2008 financial year-end.
Kong wouldn’t indicate whether BDO China firms were planning to
combine into a single Chinese entity, although she said such
consolidation is a growing trend that is taking place all over the
country at present.
“The Chinese domestic market is very huge, so firms are merging
together all over the nation so they can compete with the Big
Four,” she said. “If you want to survive in the market, you have to
become bigger and stronger.”
Melanie White and Arvind Hickman