HIKING(SH:600735) Zheng Quan Zhi Xing·2025-06-20 10:42Core Viewpoint - The audit firm Zhongtian Yun has conducted a thorough review of Shandong Xinhua Jin International Co., Ltd.'s cash flow related to purchasing goods and services over the past three years, confirming that the transactions have commercial substance and do not involve disguised fund inflows to controlling shareholders or related parties [1][6][7] Group 1: Financial Overview - The company reported cash outflows for purchasing goods and services of 1.62 billion, 2.04 billion, and 1.16 billion yuan over the past three years, indicating significant fluctuations [1] - The company received 1.45 billion yuan in cash related to other investment activities, with discrepancies noted in the year-end cash balance [1] Group 2: Supplier Relationships - The top ten cash outflow recipients for purchasing goods and services were identified, with details on the supplier names, amounts, and their relationship to the company [2][3] - Most suppliers have a long-term and stable relationship with the company, aligning with the company's operational needs and contractual agreements [6] Group 3: Audit Findings - The audit firm confirmed that the transactions with the top ten cash outflow recipients possess commercial substance and do not involve any disguised fund inflows to controlling shareholders or related parties [7] - The audit process included verifying supplier information, contract execution, and compliance with commercial practices [7]