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].

Financial Performance - The company's operating revenue for 2024 reached ¥5,078,804,634.19, an increase of 4.89% compared to ¥4,842,143,498.20 in 2023[23] - The net profit attributable to shareholders for 2024 was ¥212,356,792.76, reflecting a slight increase of 1.79% from ¥208,628,068.04 in 2023[23] - The net cash flow from operating activities significantly decreased by 97.19%, amounting to ¥15,451,259.89 compared to ¥549,733,894.33 in 2023[23] - The total assets of the company as of the end of 2024 were ¥7,341,507,174.58, representing a 3.81% increase from ¥7,071,741,334.77 in 2023[23] - The net assets attributable to shareholders increased by 4.41% to ¥4,161,299,245.88 from ¥3,985,644,297.29 in 2023[23] - Basic earnings per share for 2024 were ¥0.2611, up 6.88% from ¥0.2443 in 2023[24] - The weighted average return on equity for 2024 was 5.10%, a decrease of 0.29 percentage points from 5.39% in 2023[24] Cash Flow and Investments - The company generated positive cash flow from operating activities in Q2 2024, amounting to approximately ¥112.30 million, compared to a negative cash flow of approximately ¥270.74 million in Q1 2024[27] - The company’s financing activities generated a net cash flow of ¥339,611,096.47, a significant improvement compared to a net outflow of ¥47,568,757.08 in the previous year[72] - Cash and cash equivalents at the end of the period increased by 67.00% to ¥752,528,112.44, compared to ¥450,606,068.94 in the previous period, representing 10.25% of total assets[90] - The company has provided a financial support of up to RMB 500 million from its controlling shareholder, with an annual interest rate of 2.63%[181] - The company has entrusted a total of 21,337.92 million RMB in cash asset management, with an outstanding balance of 10,925.45 million RMB[186] Market and Product Development - The company aims to enhance its competitive edge by providing low-carbon energy system solutions for commercial and industrial sectors, aligning with national dual carbon strategies[34] - The company is focusing on technological innovation and digital transformation to drive growth in the clean energy and kitchen appliance sectors[34] - The company has successfully launched its air energy products in extreme cold environments, validating their performance and enhancing brand visibility[35] - The company aims to provide comprehensive energy solutions by integrating solar, storage, air source heat pumps, and charging stations[56] - The company is focused on becoming a leading provider of low-carbon system solutions through innovation and resource collaboration[57] Research and Development - Research and development expenses for the period were 175.59 million yuan, which is 3.46% of total operating revenue[85] - The company is focusing on user operation enhancement, system empowerment, and product commercialization to improve its retail marketing system[110] - In R&D, the company is developing ultra-quiet air energy products and enhancing energy efficiency in commercial applications, aiming for breakthroughs in core technologies[111] - The company is committed to improving the performance of energy storage products, particularly in energy density and safety, while reducing production costs[112] Corporate Governance - The company strictly adheres to corporate governance regulations, ensuring independence from controlling shareholders in assets, personnel, finance, and operations[121] - The company has established a robust internal control system to enhance governance levels and ensure compliance with relevant laws and regulations[121] - The board of directors and supervisory board members have fulfilled their duties with integrity and diligence, prioritizing the interests of the company and its shareholders[121] - The company has not engaged in any related party transactions that would compromise its independence[122] Shareholder Information - The company plans to distribute a cash dividend of ¥0.54 per 10 shares, subject to approval at the 2024 annual general meeting[6] - The total pre-tax remuneration for directors and senior management during the reporting period amounted to 9.08 million yuan[126] - The company has implemented a stock incentive plan, granting 22.9 million restricted shares to 497 participants[157] - The company completed the repurchase and cancellation of 1,342,600 restricted shares as part of the stock incentive plan[157] Environmental and Social Responsibility - The company invested 3.79 million yuan in environmental protection initiatives during the reporting period[164] - The company reduced carbon emissions by 16,800 tons through the implementation of clean energy projects and improved production processes[166] - The company actively engaged in community welfare activities, including the "Warm House" project in Tibet and the "Healthy Community" initiative[169] Risks and Challenges - The company is facing risks from macroeconomic uncertainties, which may impact consumer purchasing power and product demand[115] - The company acknowledges intensified competition in the air energy heat pump market, necessitating a clear brand strategy and product innovation[117] - The company is addressing raw material price volatility by diversifying procurement channels and establishing strategic reserves[118]

Financial Performance - The company's operating revenue for the first half of 2025 was ¥1,860,546,911.48, a decrease of 12.42% compared to ¥2,124,462,478.61 in the same period last year[21] - The total profit for the first half of 2025 was ¥40,625,763.38, down 30.78% from ¥58,689,662.79 in the previous year[21] - The net profit attributable to shareholders was ¥41,302,841.84, representing a decline of 27.08% from ¥56,644,750.38 year-on-year[21] - Basic earnings per share for the first half of 2025 were ¥0.0508, down 27.74% from ¥0.0703 in the same period last year[22] - The weighted average return on net assets was 0.99%, a decrease of 0.42 percentage points from 1.41% year-on-year[22] - The company reported a total comprehensive income of CNY 33,351,609.04 for the first half of 2025, down from CNY 52,016,163.17 in the previous year, a decline of 35.8%[120] - The company reported a net loss of CNY 63,489,972.08 for the current period, which is a significant decline compared to previous earnings[137] Cash Flow and Assets - The net cash flow from operating activities was negative at ¥-13,105,426.66, an improvement from ¥-158,440,351.21 in the same period last year[21] - The total assets at the end of the reporting period were ¥7,541,070,234.84, an increase of 2.72% from ¥7,341,507,174.58 at the end of the previous year[21] - The company's total assets decreased to CNY 6,261,110,974.92 from CNY 6,441,509,707.34, representing a reduction of 2.8%[116] - Current assets totaled RMB 2,621,130,734.94, up from RMB 2,386,352,349.02, indicating an increase of about 9.83%[112] - The cash and cash equivalents stood at RMB 752,537,942.09, showing a marginal increase from RMB 752,528,112.44[112] - The company's cash and cash equivalents decreased to CNY 1,373,492,618.03 from CNY 1,525,914,110.67, a decrease of 9.9%[115] Operating Costs and Expenses - Operating costs fell by 14.69%, totaling approximately ¥1.30 billion, which is in line with the revenue decline[63] - Research and development expenses increased by 6.59%, reaching approximately ¥68.31 million, indicating a focus on innovation[63] - The company implemented strict cost control measures, resulting in a 9.98% reduction in management expenses[63] - The company reported a significant increase in receivables from dividends, rising to RMB 93,800,000.00 from RMB 46,600,000.00, a growth of approximately 100.00%[112] Market and Industry Trends - The air source heat pump industry in China experienced a 22.3% year-on-year decline in domestic sales, with challenges in retail, engineering, and integrated markets[35] - The heating market overall declined by 20.4%, with significant price competition in the northern household heating sector[36] - The average profit margin in the solar thermal industry has dropped below 8% due to excessive competition and price wars, impacting consumer confidence[39] - The kitchen appliance sector is experiencing low demand and price reductions due to a sluggish real estate market, affecting operational performance[76] Strategic Initiatives and Innovations - The company focuses on R&D through a combination of independent innovation and open collaboration, emphasizing customized and integrated technology development[34] - The company is focusing on technology innovation and digitalization to create differentiated products and activate existing market potential[42] - The company is implementing a "one vertical, one horizontal" strategy to provide low-carbon energy solutions and zero-carbon home solutions[43] - The company has established the first zero-carbon experimental building in the air-source heat pump industry, setting a benchmark for green manufacturing and leading the industry towards low-carbon and sustainable development[47] Corporate Governance and Shareholder Information - The company confirmed its commitment to avoid any direct or indirect competition with its controlled companies, ensuring no conflicts of interest[85] - The largest shareholder, Sunrain Holding Group Co., Ltd., holds 462,000,600 shares, representing 56.82% of the total shares[104] - The total number of common shareholders as of the end of the reporting period is 88,627[102] - The company has canceled 229,900 restricted shares from its 2021 incentive plan due to the departure of five incentive targets and performance issues with seven others[100] Social Responsibility and Community Engagement - The company actively engages in social responsibility initiatives, establishing various charitable funds to contribute to public welfare[82] - The company initiated a new round of the "Sunshine Bathhouse" charity project to address hot water usage issues for disadvantaged families with disabilities[83] - The company launched the "Mount Everest Guardian Plan 2025," promoting an eco-friendly initiative that exchanges garbage for coffee at the Everest base camp[83] Risks and Challenges - The company faces risks from macroeconomic uncertainties, including inflation and exchange rate fluctuations, which may impact market demand[74] - Fluctuations in raw material prices, such as galvanized steel and copper, pose a risk to production costs and profitability[77] - Industry competition is intensifying, particularly in the solar energy sector, necessitating continuous technological advancements and brand development[75]

1 / 5 | 更正文件及出处 | 更正前 | 更正后 | | --- | --- | --- | | 《容诚会计师事务所（特殊普 | | | | 通合伙）关于日出东方控股股 | 资金占用方西藏隆晟能源管理有限 | 资金占用方西藏隆晟能源管理有限 | | 份有限公司 2024 年度非经营 | 公司 2024 年度占用累计发生金额 | 公司 2024 年度占用累计发生金额（不 | | | （不含利息）3,261.41 万元，2024 | 含利息）2,758.63 万元，2024 年度 | | 性资金占用及其他关联资金往 | 年度偿还累计发生金额 2,976.25 | 偿还累计发生金额 2,703.47 万元， | | 来情况专项说明》之"附件- | 万元，2024 年期末占用资金余额 | 2024 年期末占用资金余额 55.16 万 | | 非经营性资金占用及其他关联 | 285.16 万元 | 元 | | 资金往来情况汇总表" | | | | | 2024 年度，公司全资子公司西藏日 | 2024 年度，公司全资子公司西藏日出 | | | 出东方阿康清洁能源有限公司向公 | | | | 司控股股东同一控制下企 ...