Financial Performance - Revenue for Q1 2015 was CNY 245,178,936.16, an increase of 14.07% compared to CNY 214,936,452.35 in the same period last year[6]. - Net profit attributable to shareholders decreased by 39.57% to CNY 9,690,121.50 from CNY 16,035,182.30 year-on-year[6]. - Net profit excluding non-recurring gains and losses fell by 45.17% to CNY 8,468,838.49 from CNY 15,445,892.86 in the previous year[6]. - Basic and diluted earnings per share decreased by 39.63% to CNY 0.0259 from CNY 0.0429 year-on-year[6]. - The net profit attributable to the parent company decreased by 39.57% to CNY 9,690,121.50, due to increased expenses from trial production stages of the Changzhou functional materials project[18]. - The net profit attributable to shareholders for the first half of 2015 is expected to be between 21.11 million and 56.29 million CNY, representing a decrease of 20% to 70% compared to 70.36 million CNY in the same period of 2014[30]. Cash Flow - Net cash flow from operating activities was negative at CNY -19,032,967.87, a decline of 239.36% compared to CNY 13,657,900.58 in the same period last year[6]. - Net cash flow from operating activities decreased by 239.36% to -CNY 19,032,967.87, primarily due to increased procurement and expense outlays[19]. - Net cash flow from investing activities was -CNY 220,861,091.14, a 34.24% increase, mainly due to higher expenditures for the Changzhou New Luan Industrial Park[19]. Assets and Shareholder Information - Total assets at the end of the reporting period were CNY 3,499,935,078.88, an increase of 3.68% from CNY 3,375,792,780.91 at the end of the previous year[6]. - Net assets attributable to shareholders increased by 0.64% to CNY 1,561,075,051.93 from CNY 1,551,071,368.61 at the end of the previous year[6]. - The total number of ordinary shareholders at the end of the reporting period was 19,169[10]. - The largest shareholder, Hou Yi, holds 26.78% of the shares, amounting to 100,000,000 shares, with 88,500,000 shares pledged[10]. Expenses - Operating tax and additional charges increased by 50.24% to CNY 2,767,955.01, attributed to higher tax provisions[17]. - Management expenses grew by 43.11% to CNY 35,062,080.06, driven by increased setup costs for subsidiaries and enhanced R&D investment[17]. - Financial expenses increased by 36.50% to CNY 17,078,827.01, mainly due to a rise in bank borrowings[17]. Strategic Decisions - The company terminated the cooperation framework agreement with Zhonglan Chenguang Chemical Research Design Institute, focusing on enhancing competitiveness in the functional materials sector[22]. - The company decided to close cleaning centers in Beijing, Dalian, and Xi'an due to inconsistent progress and insufficient economic benefits[23]. - The company is undergoing a strategic transformation towards becoming a comprehensive service provider based on new materials, responding to the downturn in the electronics industry and external market changes[30]. - The company plans to optimize its customer structure by solidifying existing high-quality clients in the electronics sector while actively expanding into the food, biopharmaceutical, medical, and government sectors[30]. Commitments and Policies - The company has committed to a cash dividend policy, ensuring that cash dividends will not be less than 10% of the distributable profits each year, with a cumulative distribution of at least 30% over the last three years[28]. - The company has promised to avoid high-risk investments with raised funds and will not engage in any securities investments for twelve months after supplementing working capital[29]. - The company’s major shareholder, Mr. Hou Yi, has made commitments to avoid competition and ensure fair pricing in related party transactions[28]. - The company has strictly adhered to its commitments regarding the termination of major asset restructuring plans and will not plan any new major asset restructuring within three months of the announcement[28]. - The company is focused on enhancing the transparency and fairness of related party transactions by potentially hiring intermediaries for evaluation and consultation[28]. - The company has reported no securities investments or holdings in other listed companies during the reporting period[31][32]. Other Financial Metrics - The company reported a total of CNY 1,221,283.01 in non-recurring gains and losses during the reporting period[7]. - Other receivables increased by 61.69% to CNY 30,322,267.63, primarily due to payments for project-related guarantees and reserves[15]. - Long-term borrowings rose by 94.24% to CNY 270,000,000.00, mainly due to new bank loans for the Changzhou New Luan Industrial Park construction project[15]. - The production lines for functional materials are still in trial production, causing delays in capacity release and significant increases in early-stage investment expenses[30].

Financial Performance - The company's operating revenue for 2014 was CNY 1,348,972,672.16, a decrease of 0.06% compared to 2013[30]. - The net profit attributable to shareholders for 2014 was CNY 87,084,354.10, down 19.71% from the previous year[30]. - The company's main business revenue for 2014 was approximately ¥1.34 billion, a slight increase of 0.56% compared to ¥1.33 billion in 2013[42]. - The gross profit margin for 2014 was impacted by a decrease in operating revenue and an increase in sales and management expenses[36]. - The company achieved a weighted average return on equity of 5.74%, down from 8.50% in 2013[36]. - The total operating revenue for the year was ¥1,337,741,734.75, representing a 0.56% increase compared to the previous year[60]. - The gross profit margin for the overall business was 32.20%, which improved by 4.33% year-on-year[60]. - The company reported a net cash outflow from financing activities of ¥122,791,128.10, a decrease of 84.51% compared to the previous year, mainly due to last year's private placement fundraising[58]. - The company reported a total revenue of 784.86 million yuan for the year 2014[143]. Cash Dividend and Profit Distribution - The company plans to distribute a cash dividend of 0.12 RMB per 10 shares to all shareholders based on a total share capital of 373,440,000 shares as of December 31, 2014[4]. - In 2014, the company reported a net profit of CNY 49,395,283.23, with a cash dividend distribution of CNY 4,481,280, representing 10% of the net profit[130]. - The cash dividend per 10 shares is CNY 0.12 (including tax), with a total cash dividend amounting to CNY 4,481,280[130]. - The total distributable profit available for shareholders is CNY 230,367,631.97 after accounting for the legal surplus reserve and previous year's undistributed profits[130]. - The company did not propose any capital reserve transfer to increase share capital or issue bonus shares for 2014[130]. - The cash dividend accounted for 100% of the total profit distribution for the year[130]. - The company has revised its cash dividend policy to enhance transparency and ensure stable returns for investors over the next three years (2014-2016)[121][122]. Business Operations and Strategy - The company has shifted its focus to new materials, with significant capital investment in the functional materials project, leading to increased operational costs[34]. - The company plans to enhance its market presence in emerging sectors such as biopharmaceuticals and personal care products[30]. - The company has established a comprehensive network of subsidiaries across various cities, enhancing its operational capabilities and market reach[9]. - The company completed the construction of the first phase of the Changzhou industrial park, which is expected to commence operations in the first half of 2015[37]. - The company plans to focus on market expansion and strategic transformation to enhance competitiveness in the cleanroom service sector[86]. - The company aims to enhance its market position in the anti-static/cleanroom industry, focusing on new product development and brand establishment to improve core competitiveness[110]. - The company plans to expand into emerging markets such as biopharmaceuticals, food, and medical care, enhancing its product line and increasing market share[111]. Risks and Challenges - The company faces risks related to new field expansion and new product promotion, as well as potential declines in the electrostatic and cleanroom industry[13]. - The company anticipates risks related to market expansion and product acceptance for its new materials project, which is crucial for its strategic transformation[114]. - The company will adjust its industrial structure to mitigate risks from the slowdown in the anti-static/cleanroom industry and enhance its focus on new fields[114]. Research and Development - R&D investment for 2014 was approximately ¥54.34 million, representing 4.03% of operating revenue, an increase from 3.34% in 2013[51]. - The company applied for 33 patents and obtained 17 patents during the reporting period, totaling 120 patents by the end of 2014[52]. - The company is investing heavily in R&D, with an allocation of 5% of total revenue towards developing new technologies and products[200]. Subsidiaries and Market Presence - The company has a total of 100% ownership in several subsidiaries, including Suzhou Xinlun and Tianjin Xinlun, enhancing its market presence[9]. - The company has established a wholly-owned subsidiary to implement a chain of ultra-clean cleaning centers, although progress has varied by location[86]. - The company has expanded its user base, with active users increasing by 20% compared to the previous year, now totaling around 500,000 users[200]. Financial Management and Compliance - The company’s financial report is guaranteed to be true, accurate, and complete by its management, ensuring transparency[3]. - The company has appointed Ruihua Certified Public Accountants as its auditing firm, ensuring compliance with financial regulations[20]. - The company has no overdue principal or interest amounts, and there are no litigation issues reported[80]. - The company has not engaged in any securities investments or derivative investments during the reporting period[77][81]. Market Expansion and Product Development - The company launched several consumer products, including air purifiers and anti-smog masks, contributing to market share growth in the consumer sector[40]. - The company plans to enhance its digital marketing efforts, aiming for a 25% increase in online sales channels by the end of 2015[200]. - New product lines are set to launch in Q2 2015, with anticipated sales of 300 million RMB in the first year[200]. Shareholder Structure and Governance - The largest shareholder, Mr. Hou Yi, holds 31.60% of the shares, amounting to 118 million shares, with 29.5 million shares being unrestricted[181]. - The company has a total of 156,216,344 shares held by directors and senior management at the end of the reporting period[193]. - The company’s independent directors have extensive backgrounds in finance and management, enhancing governance[198].

Financial Performance - Operating revenue for the current period was CNY 336,078,238.50, representing a 24.00% increase year-on-year[6] - Net profit attributable to shareholders decreased by 62.39% to CNY 10,204,505.99 compared to the same period last year[6] - Net profit attributable to shareholders after deducting non-recurring gains and losses fell by 57.29% to CNY 11,446,134.33[6] - Basic earnings per share decreased by 62.45% to CNY 0.0273[6] - The weighted average return on net assets was 0.66%, down by 1.21% compared to the previous year[6] - The estimated net profit attributable to shareholders for 2014 is projected to be between 86.77 million and 130.15 million RMB, reflecting a change of -20.00% to 20.00% compared to the previous year[36] - The net profit for 2013 attributable to shareholders was 108.46 million RMB, indicating a potential recovery or growth in 2014[36] - The company is expected to maintain a positive net profit for 2014, indicating stability in its financial performance[35] Assets and Investments - Total assets increased by 8.80% to CNY 3,283,533,481.31 compared to the end of the previous year[6] - Prepaid accounts increased by 44.72% to ¥156,770,193.50, primarily due to increased advance payments for machinery and inventory[15] - Long-term equity investments rose by 57.40% to ¥53,972,286.53, mainly from investments in Shenzhen Pengding Chuangying Financial Information Service Co., Ltd.[15] - Intangible assets grew by 49.43% to ¥216,376,996.70, primarily due to the acquisition of land use rights[16] - Development expenditures surged by 91.73% to ¥22,517,530.90, reflecting increased R&D investments[16] Cash Flow - Cash flow from operating activities increased significantly by 344.30% to CNY 109,516,908.88 year-to-date[6] - Net cash flow from operating activities improved by 344.30% to ¥109,516,908.88, driven by increased sales collections[22] Shareholder Information - The total number of common shareholders at the end of the reporting period was 8,338[10] - The largest shareholder, Hou Yi, holds 31.60% of the shares, amounting to 118,000,000 shares[10] - The company’s controlling shareholder, Mr. Hou Yi, committed to extend the lock-up period of 118 million shares for an additional 12 months until January 22, 2015[32] - The management team, including Mr. Hou Haifeng, is committed to adhering to regulations regarding share transfers during their tenure[36] Corporate Strategy and Plans - The company plans to close cleaning centers in Beijing, Dalian, and Xi'an to enhance asset value[26] - The company is actively pursuing a major asset restructuring, with stock trading suspended since September 22, 2014[28] - The company has completed the bidding process for land assets in Shanghai Lingang Industrial Park[27] - The company approved a related transaction with Shenzhen Inno Laser Technology Co., Ltd. for providing purification engineering services, totaling 4.8 million yuan[29] - The company plans to sign an agreement for the functional materials project in Changzhou West Taihu Technology Industrial Park[30] - The company is in the process of a major asset restructuring, with announcements made on September 20, September 29, and October 10, 2014 regarding the suspension of trading[31] Dividend Policy - The company plans to prioritize cash dividends, with a minimum of 10% of distributable profits to be distributed in cash annually, subject to no major investment or cash expenditure plans[36] - In the absence of significant capital expenditure, the cash dividend proportion is expected to be at least 80% during profit distribution[36] - The company has committed to a differentiated cash dividend policy based on its development stage, with varying minimum cash dividend proportions ranging from 20% to 80%[36] Financial Management - The company has promised not to engage in high-risk investments for 12 months after using remaining raised funds for working capital[33] - The company’s senior management committed that Shanghai Hangguo's net profit for 2013 would not be less than 22.8 million yuan, with increasing targets for subsequent years[33] - No securities investments were reported during the reporting period, and the company did not hold shares in other listed companies[37] - The company is in a mature development stage and has no major funding arrangements planned, which supports its cash distribution strategy[36] Operating Expenses - Operating expenses increased by 37.47% to ¥73,021,787.37, mainly due to new expenses from Shanghai Hangguang and Changzhou Xinlun[19] - Financial expenses rose by 65.94% to ¥50,856,167.23, attributed to increased loan amounts and corresponding interest expenses[19]

Financial Performance - The company's operating revenue for the first half of 2014 was CNY 701,708,471.59, representing a 17.41% increase compared to CNY 597,640,959.03 in the same period last year[23]. - The net profit attributable to shareholders was CNY 70,359,321.89, up 5.54% from CNY 66,663,349.19 year-on-year[23]. - The net cash flow from operating activities improved significantly to CNY 55,658,928.52, a 234.65% increase from a negative CNY 41,337,423.15 in the previous year[23]. - Total assets at the end of the reporting period reached CNY 3,252,226,084.78, marking a 7.76% increase from CNY 3,018,030,205.39 at the end of the previous year[23]. - The net assets attributable to shareholders increased by 3.49% to CNY 1,534,376,845.21 from CNY 1,482,635,603.87[23]. - The basic earnings per share decreased by 5.85% to CNY 0.1884 from CNY 0.2001 in the same period last year[23]. - The diluted earnings per share also fell by 5.85% to CNY 0.1884 compared to CNY 0.2001 in the previous year[23]. - The weighted average return on equity was 4.64%, down from 6.05% in the same period last year, reflecting a decrease of 1.41%[23]. Strategic Initiatives - The company is focusing on strategic transformation towards new materials and comprehensive service provider roles, showing initial success in this transition[33]. - The company is expanding into the civilian purification market, with a new product line of fresh air purifiers expected to launch in the second half of the year[31]. - The company is actively constructing the Changzhou industrial park for functional materials, aiming to replace imported products and drive future growth[32]. - The company has established a subsidiary, Aimu Ni Holdings, to develop and sell daily chemical care products, aiming to enhance profitability and market competitiveness[38]. - A joint investment with Changjiang United was made to establish Changjiang Xinlun subsidiary for new material projects, enhancing market competitiveness in East China[38]. Market Performance - Domestic sales reached approximately ¥647.31 million, reflecting a 33.70% increase year-on-year[40]. - International sales decreased by 40.28%, totaling around ¥51.75 million[40]. - The sales revenue of purification products increased by 7.07% compared to last year, reaching approximately ¥316.94 million[38]. - The sales revenue of purification engineering grew by 16.04%, totaling around ¥275.80 million[38]. - The sales revenue of ultra-clean cleaning services rose by 12.97%, amounting to about ¥47.25 million[38]. Investment and Financing - The total investment amount during the reporting period was ¥138 million, a decrease of 33.02% compared to ¥206 million in the same period last year[51]. - The total amount of raised funds was ¥437 million, with ¥1.43 million invested during the reporting period and a cumulative investment of ¥420.47 million[60]. - The cumulative amount of raised funds that have been repurposed is ¥995.26 million, accounting for 2.28% of the total raised funds[60]. - The company plans to issue short-term financing bonds not exceeding RMB 300 million, which was approved by the board and shareholders[118]. - The company is actively promoting the issuance of short-term financing bonds and will fulfill information disclosure obligations in a timely manner[119]. Governance and Compliance - The company has implemented a comprehensive governance structure in compliance with relevant laws and regulations, enhancing transparency and protecting investor rights[87]. - During the reporting period, the company held 2 shareholder meetings, 5 board meetings, and 3 supervisory meetings, all in accordance with legal requirements[88]. - The company disclosed a total of 41 announcements during the reporting period, ensuring timely and accurate information dissemination[88]. - The company has committed to maintaining transparency and fairness in related party transactions, adhering to market pricing principles[112]. Risks and Challenges - The company faces risks related to entering new markets and the declining prosperity of certain downstream industries[6]. - The company has experienced project delays due to surrounding infrastructure issues at its Guangming Industrial Base, affecting the overall operational system platform project[63]. - The company decided to close cleaning centers in Beijing, Dalian, and Xi'an due to inconsistent implementation progress and economic inefficiencies, with ongoing liquidation procedures[120]. Future Outlook - The company anticipates a positive outlook for the first nine months of 2014, with expectations of improved operational performance[80]. - The estimated net profit attributable to shareholders for the first three quarters of 2014 is projected to be between 7,503.83 million CNY and 11,255.75 million CNY, reflecting a change of -20.00% to 20.00% compared to 9,379.79 million CNY in the same period of 2013[81]. - The company plans to leverage the growing air purification market, which is driven by declining air quality and increased consumer demand[74]. - The company plans to enhance its market presence through technological development and service improvements in the clean technology sector[172].

Financial Performance - The company's operating revenue for Q1 2014 was ¥214,936,452.35, representing an increase of 11.9% compared to ¥192,080,083.20 in the same period last year[7]. - The net profit attributable to shareholders was ¥16,035,182.30, a slight increase of 1.29% from ¥15,830,208.58 year-on-year[7]. - The net cash flow from operating activities improved significantly to ¥13,657,900.58, compared to a negative cash flow of ¥15,711,970.90 in the previous year, marking a 186.93% increase[7]. - Total assets at the end of the reporting period were ¥3,021,128,583.06, a marginal increase of 0.1% from ¥3,018,030,205.39 at the end of the previous year[7]. - The net assets attributable to shareholders increased by 1.09% to ¥1,498,809,515.54 from ¥1,482,635,603.87 at the end of the last year[7]. - The weighted average return on net assets decreased to 1.08% from 2.12% in the previous year, reflecting a decline of 1.04%[7]. - The company reported a total of ¥589,289.44 in non-recurring gains and losses during the reporting period[8]. Expenses and Financial Management - Operating tax and additional fees increased by 94.12% compared to the same period last year, primarily due to business growth[18]. - Sales expenses rose by 32.76% year-on-year, mainly due to increased expenses related to Shanghai Hanguang and revenue growth[18]. - Management expenses increased by 64.34% compared to the previous year, attributed to higher expenses for Shanghai Hanguang and increased R&D investment[18]. - Financial expenses grew by 72.78% year-on-year, mainly due to expanded financing scale and rising financing rates[20]. - Asset impairment losses decreased by 306.39% compared to the same period last year, primarily due to a reduction in accounts receivable[20]. - Investment income fell by 365.51% year-on-year, mainly due to losses from Dongguan Shidao and Tongxinyuan[20]. Cash Flow and Investments - Net cash flow from operating activities was RMB 13,657,900.58, a 186.93% increase, mainly due to increased sales collections[21]. - Net cash flow from investing activities was -RMB 164,527,960.55, primarily due to payments for land in Changzhou[21]. - The company plans to invest RMB 1 billion in the Changzhou New Fiber project, with RMB 50 million already invested as of December 31, 2013[22]. - A cooperation framework agreement was signed to establish a joint venture in Chengdu for a project with an estimated total investment of approximately RMB 2.6 billion[23]. Future Projections and Commitments - The estimated net profit attributable to shareholders for the first half of 2014 is projected to be between 53.33 million and 79.99 million RMB, representing a decrease of 20% to an increase of 20% compared to the same period in 2013[28]. - The net profit for the first half of 2013 was 66.66 million RMB, indicating a potential recovery or stability in performance for 2014[28]. - The company plans to continue its industrial transformation and structural adjustment, expecting stable development in its main business and growth in new business areas[28]. - The controlling shareholder, Mr. Hou Yi, has committed to extend the lock-up period of his 118 million shares for an additional 12 months until January 22, 2015, demonstrating confidence in the company's future[27]. - There are no reported commitments or promises from the company or its major shareholders that have not been fulfilled during the reporting period[27]. - The company has not engaged in any entrusted financial management or loans during the non-public offering period, ensuring compliance with its commitments[27]. Corporate Governance and Compliance - The company has implemented measures to minimize and regulate related party transactions, ensuring fair pricing and compliance with legal procedures[27]. - The company’s controlling shareholder has made commitments to avoid competition with the company’s business, ensuring no new competitive entities will be established[27]. - The company is focused on maintaining transparency and fairness in related party transactions, with provisions for third-party evaluations if necessary[27].

Financial Performance - The company achieved operating revenue of CNY 1,349,728,384.43 in 2013, representing an increase of 18.19% compared to 2012[28]. - Net profit attributable to shareholders reached CNY 108,462,073.66, reflecting a growth of 15.33% year-over-year[28]. - The company reported a total revenue of RMB 570.74 million for the year, with a net profit of RMB 2.41 million, reflecting a decrease compared to the previous year[82]. - The company reported a net profit of 27.61 million RMB for the year 2013, exceeding the performance commitment of 22.80 million RMB[135]. - The company’s total operating costs amounted to approximately ¥959.57 million in 2013, a year-on-year increase of 16.39%[41]. Cash Flow and Dividends - The company plans to distribute a cash dividend of 0.50 RMB per 10 shares to all shareholders based on the total share capital as of December 31, 2013[5]. - In 2013, the cash dividend amounted to RMB 18.67 million, representing 100% of the distributable profit of RMB 204.58 million[109]. - The net cash flow from operating activities improved significantly, with a net outflow of CNY -30,549,921.30, a 61.13% reduction in outflow compared to the previous year[30]. - Cash and cash equivalents increased by 422.25%, amounting to CNY 327,386,304.69[51]. - The company has maintained its cash dividend policy without adjustments during the reporting period[102]. Risk Management - The company acknowledges risks related to macroeconomic downturns affecting industry prosperity, market and operational risks, and risks associated with entering new fields[12]. - The company has a comprehensive risk management strategy outlined in its board report, addressing potential investment risks[12]. - The company aims to mitigate risks from industry slowdowns by diversifying into biopharmaceuticals, personal protection, daily chemical care, and food processing sectors[94]. Business Strategy and Expansion - The company is transitioning towards the functional materials sector, leveraging its existing customer resources in the anti-static/cleanroom industry[27]. - The company plans to establish three major semiconductor manufacturing bases in China, enhancing its market share and regional presence[33]. - The company is actively expanding its product offerings, including new civilian products and cleaning services, to enhance market competitiveness[120]. - The company is expanding into high-value-added new materials, with plans to invest in optical electronic and electronic component functional materials projects[90]. - The company has initiated the development of personal care products, such as makeup cotton and disinfectant wipes, to adjust its product structure and improve profitability[91]. Acquisitions and Investments - The company completed a non-public offering, raising a net amount of CNY 675 million to support its development[28]. - The acquisition of Shanghai Hanguang expanded the company's presence in the laboratory sector, enhancing its product and service offerings[28]. - The company acquired 100% of Shanghai Hanguang Industrial Co., Ltd. for RMB 138 million and established a wholly-owned subsidiary in Changzhou with an investment of RMB 50 million[99]. - The company has invested ¥598.80 million during the reporting period, a significant increase of 340.96% compared to ¥135.79 million in the previous year[66]. Corporate Governance - The company’s governance structure is well-established, promoting a stable and motivated core team through effective incentive mechanisms[62]. - The company has established a sound corporate governance structure to protect shareholder rights and ensure fair information disclosure[111]. - The company has maintained a governance structure that complies with relevant laws and regulations, enhancing operational transparency and investor protection[173]. - The company has implemented a training program on insider trading regulations for its board members and senior management to enhance compliance awareness[187]. Market Position and Competitiveness - The company’s gross profit margin improved as it expanded into high-value products in the biopharmaceutical and consumer electronics sectors, with a focus on standardized products[37]. - The company’s market share in the biopharmaceutical sector significantly increased, establishing partnerships with numerous well-known domestic pharmaceutical companies[37]. - The company is focusing on enhancing brand value and product quality to strengthen market competitiveness amid increasing competition[94]. Subsidiaries and Workforce - The company has a total of 11 wholly-owned subsidiaries, indicating a diversified operational structure[10]. - As of December 31, 2013, the company had a total of 2,042 employees, with 1,019 in production, 307 in sales, and 214 in technical roles[168][169]. - The company has a total of 7 board members, including 4 non-independent directors and 3 independent directors[155]. Financial Auditing and Compliance - The company’s financial report is guaranteed to be true, accurate, and complete by its management, ensuring accountability[4]. - The company has engaged Ruihua Certified Public Accountants for auditing, ensuring compliance and transparency in financial reporting[19]. - The audit committee confirmed that the financial statements accurately reflected the company's financial status and operating results as of the end of 2013[195].