湖北宜化: 2024年年度审计报告

Core Viewpoint - The audit report for Hubei Yihua Chemical Co., Ltd. for the year 2024 indicates that the financial statements fairly reflect the company's financial position and operating results in accordance with accounting standards [1][2]. Financial Statements - The financial statements include consolidated and parent company balance sheets, income statements, cash flow statements, and changes in equity statements for the year ending December 31, 2024 [1]. - The total issued share capital of the company is 1,082.914712 million shares, with a registered capital of 1,082.914712 million yuan [5]. Audit Opinion - The audit opinion states that the financial statements are prepared in accordance with accounting standards and provide a true and fair view of the company's financial status and performance [1][2]. - Key audit matters identified include revenue recognition and long-term asset impairment, which are critical due to their significant impact on the financial statements [1][2]. Key Audit Matters - Revenue recognition is a key audit matter due to the large volume of sales and the potential for management to manipulate revenue recognition to meet targets [1][2]. - Long-term asset impairment testing is also critical, with the company holding long-term assets valued at 573.0247 million yuan, which requires careful evaluation of future cash flows and discount rates [2]. Company Overview - Hubei Yihua Chemical Co., Ltd. operates in the chemical fertilizer industry, with main products including urea, diammonium phosphate, and polyvinyl chloride [5][6]. - The company was established on September 6, 1993, and has undergone several capital increases and stock issuances since its inception [5][6]. Accounting Policies - The financial statements are prepared based on the going concern assumption and comply with the relevant accounting standards issued by the Ministry of Finance [7][8]. - The company uses the Chinese yuan as its functional currency and follows specific accounting treatments for mergers, joint ventures, and financial instruments [9][10].