长城科技: 长城科技2024年年度审计报告

Audit Report - The audit opinion states that the financial statements of Zhejiang Changcheng Electric Technology Co., Ltd. fairly reflect the company's financial position as of December 31, 2024, and its operating results for the year 2024 [2][3] - The audit was conducted in accordance with Chinese CPA auditing standards, ensuring independence and adherence to ethical responsibilities [2][3] Key Audit Matters - Revenue recognition is identified as a key audit matter due to the inherent risk of management potentially misrepresenting revenue to meet specific targets. The company's revenue for 2024 was reported at RMB 1,298,543.72 million [3][4] - Accounts receivable impairment is another key audit matter, as the company assesses expected credit losses based on the credit risk characteristics of its receivables. The accounts receivable balance as of December 31, 2024, was significant, necessitating careful evaluation [4][5] Company Overview - Zhejiang Changcheng Electric Technology Co., Ltd. was established on August 16, 2007, and transitioned to a joint-stock company on January 18, 2012. The company specializes in the production, processing, and sale of special electromagnetic wires and winding wires [12] - The registered capital of the company is RMB 206,435,681.00, with a total of 206,435,681 shares issued [12] Financial Reporting Basis - The financial statements are prepared on a going concern basis, with no significant doubts regarding the company's ability to continue operations for the next 12 months [13] - The company adheres to the relevant accounting standards, ensuring that the financial statements provide a true and complete reflection of its financial status and operating results [13] Important Accounting Policies - The company has established specific accounting policies and estimates for various transactions, including revenue recognition, impairment of financial instruments, inventory, and fixed asset depreciation [13][14] - The company uses the weighted average method for inventory valuation and recognizes inventory impairment when the cost exceeds the net realizable value [32]