Market Overview - The kitchen and bathroom appliance sector experienced a decline of 1.16% on August 29, with Mars Man leading the drop [1] - The Shanghai Composite Index closed at 3857.93, up 0.37%, while the Shenzhen Component Index closed at 12696.15, up 0.99% [1] Stock Performance - Key stocks in the kitchen and bathroom appliance sector showed varied performance: - Aopu Technology (603551) closed at 12.46, up 1.30% with a trading volume of 30,400 shares and a turnover of 37.84 million yuan - Boss Electric (002508) closed at 20.35, down 0.20% with a trading volume of 112,500 shares and a turnover of 22.90 million yuan - Mars Man (300894) closed at 13.73, down 3.17% with a trading volume of 107,200 shares and a turnover of 148 million yuan [1] Capital Flow - The kitchen and bathroom appliance sector saw a net outflow of 106 million yuan from main funds, while retail investors contributed a net inflow of 101 million yuan [1] - Detailed capital flow for specific stocks indicates: - Yitian Smart (300911) had a main fund net inflow of 2.89 million yuan, while retail investors contributed 11.08 million yuan - Aopu Technology (603551) experienced a main fund net outflow of 427,500 yuan, with retail investors contributing a net inflow of 1.94 million yuan [2] - Mars Man (300894) faced a main fund net outflow of 13.46 million yuan, while retail investors had a net inflow of 13.78 million yuan [2]

Core Viewpoint - The report indicates that institutional investors hold a significant portion of the shares in 日出东方, totaling 4.78 billion shares, which represents 58.77% of the company's total equity, although this is a slight decrease from the previous quarter [1] Institutional Holdings - As of August 27, 2025, seven institutional investors have disclosed their holdings in 日出东方 A-shares, with a combined holding of 4.78 billion shares [1] - The institutional investors include notable entities such as 太阳雨控股集团有限公司, 江苏月亮神管理咨询有限公司, and 香港中央结算有限公司 [1] - The total institutional holding percentage has decreased by 0.30 percentage points compared to the previous quarter [1] Public Fund Disclosures - During this reporting period, one new public fund has been disclosed, specifically the 平安中证2000增强策略ETF [1]

Group 1 - The kitchen and bathroom appliance sector increased by 0.84% on August 28, with RiZhiDongFang leading the gains [1] - The Shanghai Composite Index closed at 3843.6, up 1.14%, while the Shenzhen Component Index closed at 12571.37, up 2.25% [1] - A detailed table of individual stock performance in the kitchen and bathroom appliance sector is provided [1] Group 2 - The kitchen and bathroom appliance sector saw a net inflow of main funds amounting to 37.08 million yuan, while retail investors experienced a net outflow of 59.29 million yuan [2] - The net inflow from speculative funds was 22.20 million yuan [2] - A detailed table of fund flows for individual stocks in the kitchen and bathroom appliance sector is included [2]

Core Viewpoint - The company has corrected the non-operating fund occupation data for the year 2024, which does not affect its financial statements or operational results for that year [4][5]. Group 1: Company Overview - The company is named 日出东方控股股份有限公司, with stock code 603366 [2]. - The company has not undergone any changes in its controlling shareholder or actual controller [2]. Group 2: Financial Data - The corrected non-operating fund occupation amount for 2024 was revised from 32.6141 million yuan to 27.5863 million yuan, and the year-end balance was corrected from 2.8516 million yuan to 551,600 yuan [4][5]. Group 3: Important Announcements - The company has issued a public apology for any inconvenience caused to investors due to the correction of the data and has committed to improving the quality of its periodic report disclosures [6].

Core Viewpoint - Recently, Sunrise Orient Holdings Co., Ltd. has attracted market attention due to receiving an inquiry letter from the Shanghai Stock Exchange regarding its 2024 annual report disclosure, prompting a special explanation from Rongcheng Accounting Firm on various financial accounting issues [1] Group 1: Non-operating Fund Transactions - In 2024, a subsidiary of Sunrise Orient, Tibet Sunrise Orient Akang Clean Energy Co., Ltd., provided loans totaling 32.61 million yuan to its controlling shareholder's subsidiary, with an outstanding balance of 2.85 million yuan at the end of the period [2] - The company stated that the collaboration with Tibet Longsheng is based on strategic considerations to leverage synergies and reduce operational risks, with corrective measures taken to improve internal controls [2] Group 2: Main Business Analysis - The annual report indicates that Sunrise Orient achieved a revenue of 5.079 billion yuan in 2024, comprising product sales revenue of 3.492 billion yuan, heating and photovoltaic engineering business of 640 million yuan, and new franchise project revenue of 598 million yuan [3] - The company provided detailed explanations for the revenue growth in solar water heater products and the decline in other product revenues, along with the accounting treatment of franchise projects [3] Group 3: Monetary Funds and Restricted Assets - The company's monetary funds at the end of the period amounted to 753 million yuan, a 67% increase from the beginning of the year, with restricted funds of 94.62 million yuan [4] - The company clarified the situation regarding co-managed account funds and stated that there are no significant differences compared to industry peers, with new large borrowings used for franchise projects and operational funding [4] Group 4: Accounts Receivable - The accounts receivable at the end of the period stood at 602 million yuan, reflecting a year-on-year increase of 36.83%, which is higher than the growth rate of revenue [5] - The company provided information on the top five debtors and the adequacy of bad debt provisions, indicating that the reasons for the increase in accounts receivable are reasonable [5] Group 5: Private Investment - The company has a remaining balance of 202 million yuan in private fund investments, with the Shanghai Guotai Junan Sunrise Orient Investment Center (Limited Partnership) having completed liquidation on December 28, 2021 [6] - The company disclosed the progress of the liquidation and stated that there are no recovery risks associated with the investment funds, nor any funds flowing to related parties [6]

Group 1 - The company, 日出东方 (603366.SH), reported a revenue of 1.86 billion yuan for the first half of the year, representing a year-on-year decline of 12.42% [1] - The net profit attributable to shareholders of the listed company was 41.3 million yuan, down 27.08% year-on-year [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was 3.08 million yuan, reflecting a significant decline of 80.45% year-on-year [1]

审计报告 日出东方控股股份有限公司 容诚审字[2025]215Z0180号 容诚会计师事务所(特殊普通合伙) 中国·北京 目 录 | 序号 | 内 容 | 页码 | | --- | --- | --- | | 1 | 审计报告 | 1-6 | | 2 | 合并资产负债表 | 1 | | 3 | 合并利润表 | 2 | | 4 | 合并现金流量表 | 3 | | 5 | 合并所有者权益变动表 | 4 | | 6 | 母公司资产负债表 | 5 | | 7 | 母公司利润表 | 6 | | 8 | 母公司现金流量表 | 7 | | 9 | 母公司所有者权益变动表 | 8 | | 10 | 财务报表附注 | 9 - 135 | 审 计 报 告 容诚会计师事务所（特殊普通合伙） 总所：北京市西城区阜成门外大街 22 号 1 幢 10 层 1001-1 至 1001-26 (100037) TEL:010-6600 1391 FAX:010-6600 1392 E-mail:bj@rsmchina.com.cn https://www.rsm.global/china/ 容诚审字[2025]215Z0180号 日出东方控 ...

Core Viewpoint - The report provides a summary of non-operating fund occupation and other related fund transactions for Sunrise Oriental Holdings Co., Ltd. as of December 31, 2024, ensuring compliance with regulatory requirements [2]. Group 1: Company Overview - Sunrise Oriental Holdings Co., Ltd. has undergone an audit by RSM China, resulting in an unqualified audit opinion for its financial statements as of December 31, 2024 [1]. - The management of Sunrise Oriental is responsible for the accurate and complete preparation and disclosure of the summary of non-operating fund occupation and related transactions [2]. Group 2: Regulatory Compliance - The report adheres to the requirements set forth by the China Securities Regulatory Commission and the Shanghai Stock Exchange regarding the management of fund transactions and external guarantees [2]. - The summary table of non-operating fund occupation and related transactions is intended for the annual report disclosure and should be read in conjunction with the audited financial statements [2].

Core Viewpoint - The audit report for Sunrise Eastern Holdings Co., Ltd. indicates that the financial statements for the year ending December 31, 2024, fairly reflect the company's financial position and operating results in accordance with accounting standards [1][2]. Group 1: Audit Opinion - The audit firm believes that the financial statements present a true and fair view of the company's financial status and performance for the year [1]. - The audit was conducted in accordance with Chinese auditing standards, ensuring independence and adherence to ethical responsibilities [2]. Group 2: Key Audit Matters - Revenue recognition is identified as a key audit matter due to the inherent risk of management manipulating revenue recognition to meet specific targets [3]. - The company operates in various sectors including water heaters, kitchen appliances, clean energy heating, and water purification, with revenue recognition methods varying by business type [3][4]. Group 3: Revenue Recognition Procedures - The audit procedures for revenue recognition included evaluating internal controls, performing analytical procedures, and verifying sales records against supporting documents [4][5]. - Specific methods were employed to assess revenue from different sales models, including dealer, project, e-commerce, and export sales [4][5]. Group 4: Management Responsibilities - The management is responsible for preparing financial statements that fairly reflect the company's financial position and for maintaining effective internal controls [5]. - Management must assess the company's ability to continue as a going concern and disclose relevant matters [5]. Group 5: Financial Reporting and Accounting Policies - The company prepares its financial statements based on the going concern assumption and adheres to relevant accounting standards [12][13]. - Important accounting policies and estimates are established in accordance with accounting standards, ensuring the financial statements reflect the company's financial condition accurately [12][13]. Group 6: Company Overview - Sunrise Eastern Holdings Co., Ltd. was established in April 1997 and has undergone several capital increases, with the current registered capital being 813,278,001 RMB [11][12]. - The company primarily engages in the research, production, and sales of water heaters, kitchen appliances, clean energy heating, and water purification products under various brands [11][12].

Core Viewpoint - The company has corrected the non-operating fund occupation data for the year 2024, with the cumulative amount revised from 32.614 million yuan to 27.586 million yuan, which does not affect the annual financial statements or the company's financial status and operating results [1][6]. Summary by Relevant Sections Non-operating Fund Occupation - The cumulative non-operating fund occupation amount for 2024 was corrected from 32.614 million yuan to 27.586 million yuan, with the repayment amount adjusted from 29.762 million yuan to 27.586 million yuan [1][4]. - The year-end balance of occupied funds for 2024 was reported as 0, indicating no further fund occupation after January 2025 [2][5]. Financial Reports and Audits - The company disclosed the corrected data in various reports, including the "Special Explanation on Non-operating Fund Occupation and Other Related Fund Transactions for 2024," the "2024 Annual Report," and the "2024 Audit Report" [1][6]. - The company emphasized that the corrections do not require adjustments to the annual financial statements and will not impact the financial condition or operating results [1][6]. Related Party Transactions - The company engaged in borrowing transactions with its controlling shareholder, Tibet Longsheng Energy Management Co., Ltd., with a total borrowing amount of 3.261 million yuan for the year 2024 [4][5]. - The company has taken measures to communicate with Tibet Longsheng to ensure the return of all occupied funds, with no further fund occupation reported after January 2025 [5][6]. Other Financial Data - The company reported that the total amount of other receivables at the end of the period was 13.597 million yuan, with a bad debt provision of 8.303 million yuan [2][3]. - The company also noted that the receivables from Tibet Longsheng accounted for 3.151 million yuan, representing 3.82% of the total other receivables [2][3].