*ST绿康: 绿康（玉山）胶膜材料有限公司审计报告

Core Viewpoint - The audit report indicates that the financial statements of Green Health (Yushan) Film Material Co., Ltd. fairly reflect its financial position as of December 31, 2023, and December 31, 2024, despite significant uncertainties regarding its ability to continue as a going concern due to substantial losses and negative net assets [2][3][4]. Financial Statements Summary Audit Opinion - The audit opinion states that the financial statements are prepared in accordance with accounting standards and fairly present the company's financial position [2][3]. - The company reported a net loss of CNY 203.25 million in 2024, with current liabilities exceeding current assets by CNY 164.84 million, leading to a negative net asset of CNY 34.53 million [2][3]. Balance Sheet - As of December 31, 2024, total assets amounted to CNY 217.09 million, a significant decrease from CNY 478.18 million in 2023 [6]. - Current assets totaled CNY 38.21 million in 2024, down from CNY 247.89 million in 2023 [6]. - Total liabilities were CNY 251.62 million in 2024, compared to CNY 460.04 million in 2023 [6]. Income Statement - The company reported operating revenue of CNY 285.16 million in 2024, an increase from CNY 156.03 million in 2023 [6]. - Operating costs rose to CNY 340.13 million in 2024 from CNY 172.81 million in 2023, leading to an operating loss of CNY 172.87 million in 2024 [6][7]. - The net loss for 2024 was CNY 203.25 million, compared to a net loss of CNY 55.92 million in 2023 [6][7]. Cash Flow Statement - Net cash flow from operating activities was CNY 79.91 million in 2024, a recovery from a negative cash flow of CNY 157.04 million in 2023 [7]. - Cash flow from investing activities was negative at CNY 21.31 million in 2024, indicating continued investment despite losses [7]. - Cash flow from financing activities was negative at CNY 58.89 million in 2024, contrasting with a positive cash flow of CNY 212.26 million in 2023 [7]. Changes in Owner's Equity - The company's registered capital increased to CNY 250 million in 2024 from CNY 100 million in 2023, reflecting new investments [8]. - The total owner's equity was negative at CNY 34.53 million in 2024, down from CNY 18.14 million in 2023 [6][8]. Company Background - Green Health (Yushan) Film Material Co., Ltd. is primarily engaged in the production and sale of photovoltaic film, with a registered capital of CNY 25 million [9]. - The company is controlled by Mr. Lai Tanping and is a subsidiary of Green Health Biochemical Co., Ltd. [9].