BSP(000761) 证券之星·2025-04-03 12:08Audit Opinion - The audit report concludes that the financial statements of Benxi Steel Plate Co., Ltd. fairly reflect its financial position as of December 31, 2024, and its operational results and cash flows for the year 2024 in accordance with accounting standards [1][2]. Key Audit Matters - Revenue recognition is identified as a key audit matter due to the significant risk of material misstatement. The audit procedures included testing internal controls related to revenue, analyzing sales details, and verifying contracts and invoices [1][2]. - Inventory impairment provision is also a key audit matter, as it involves significant judgment in estimating the net realizable value of inventory. The audit procedures included assessing internal controls and performing tests on inventory valuation [2][4]. Company Overview - Benxi Steel Plate Co., Ltd. was established in March 1997 and is primarily engaged in the production and sale of black metal products. The company went public in June 1997, issuing B shares and later A shares [4][5]. - As of December 31, 2024, the total share capital of the company is 4,108,228,157 shares, with the actual controller being Ansteel Group Co., Ltd. [4][5]. Financial Reporting Basis - The financial statements are prepared based on the going concern assumption and in accordance with the accounting standards issued by the Ministry of Finance [4][5]. Accounting Policies - The company follows specific accounting policies for revenue recognition, inventory valuation, and financial instruments, ensuring compliance with relevant accounting standards [4][5][6]. - Inventory is measured at the lower of cost and net realizable value, with provisions made for any impairment [4][5][6]. Financial Instruments - Financial instruments are classified at initial recognition as either measured at amortized cost or at fair value, depending on the business model and cash flow characteristics [4][5][6]. Consolidation and Control - The company consolidates financial statements based on control, including all subsidiaries, and eliminates intercompany transactions [5][6]. Management Responsibilities - Management is responsible for preparing the financial statements in accordance with accounting standards and maintaining effective internal controls to prevent material misstatements [1][2]. Auditor Responsibilities - The auditor's responsibility is to obtain reasonable assurance that the financial statements are free from material misstatement, whether due to fraud or error, and to issue an audit report that includes their opinion [1][2].