*ST绿康: 绿康（海宁）胶膜材料有限公司审计报告

Audit Opinion - The audit report states that the financial statements of Green Kang (Haining) Film Material Co., Ltd. fairly reflect its financial position as of December 31, 2023, and December 31, 2024, in accordance with accounting standards [1][2][7]. Financial Performance - In 2024, the company reported a net loss of CNY 150.73 million, compared to a net loss of CNY 21.49 million in 2023 [3][4]. - The total revenue for 2024 was CNY 88.91 million, a significant decrease from CNY 104.38 million in 2023 [3][4]. Financial Position - As of December 31, 2024, total assets amounted to CNY 478.59 million, down from CNY 560.24 million in 2023 [2][3]. - The company had total liabilities of CNY 550.18 million in 2024, compared to CNY 481.71 million in 2023, indicating an increase in financial obligations [3][4]. Cash Flow - The net cash flow from operating activities in 2024 was CNY 46.18 million, a recovery from a negative cash flow of CNY -5.97 million in 2023 [4][5]. - The cash and cash equivalents at the end of 2024 were CNY 257.58 million, a decrease from CNY 30.55 million at the end of 2023 [4][5]. Equity Changes - The total equity of the company as of December 31, 2024, was negative CNY 71.59 million, down from positive CNY 78.54 million in 2023, reflecting a significant decline in shareholder value [3][5]. Management's Responsibility - The management is responsible for preparing the financial statements in accordance with accounting standards and ensuring the accuracy of the financial reporting process [1][2]. Going Concern - The audit report highlights significant uncertainties regarding the company's ability to continue as a going concern due to the net loss and negative equity [1][6].