航材股份: 2024年审计报告

Company Overview - Beijing Aviation Materials Research Institute Co., Ltd. (referred to as "the Company" or "Aviation Materials Co.") was established in March 2000 with a total share capital of 50 million yuan [2] - The Company transitioned to a high-tech enterprise engaged in titanium alloy castings, rubber and sealing components, aircraft cockpit transparent parts, and high-temperature alloy master alloys [2] - In December 2021, the Company completed its restructuring and was renamed Beijing Aviation Materials Research Institute Co., Ltd. [2] - The Company was approved for an initial public offering of 90 million shares on May 23, 2023, by the China Securities Regulatory Commission [2] Financial Reporting - The financial statements are prepared based on the accrual basis of accounting and comply with the accounting standards issued by the Ministry of Finance [2] - The Company adopts a calendar year as its accounting period, running from January 1 to December 31 [2] - The Company uses the renminbi as its functional currency for accounting purposes [2] Accounting Policies - The Company recognizes fixed asset depreciation, intangible asset amortization, and revenue recognition policies based on its operational characteristics [2] - Significant receivables and payables are identified based on a threshold of 0.5% of total assets [3][4] - The Company assesses the impairment of assets and recognizes provisions for bad debts based on specific criteria [2][4] Financial Instruments - Financial instruments are classified into three categories: financial assets measured at amortized cost, financial assets measured at fair value with changes recognized in other comprehensive income, and financial assets measured at fair value with changes recognized in profit or loss [10][16] - The Company recognizes financial assets when it becomes a party to the financial instrument contract and derecognizes them under specific conditions [11][26] - Expected credit losses are measured based on the risk of default and are recognized for financial assets measured at amortized cost and those measured at fair value [19][25] Inventory Management - The Company classifies inventory into raw materials, work in progress, finished goods, and goods in transit [29] - Inventory is measured at the lower of cost and net realizable value, with provisions for inventory write-downs recognized when necessary [29]