Core Viewpoint - Shanghai Guijiu Co., Ltd. received a qualified audit opinion for its 2024 financial statements due to significant uncertainties related to its ability to continue as a going concern [1][4]. Group 1: Reasons for Qualified Opinion - The qualified opinion is based on complaints regarding undisclosed related-party transactions that may have inflated sales performance [2]. - The company is involved in litigation related to debt defaults, with a total litigation amount of 660 million yuan and recognized liabilities of 440 million yuan [2]. - The company has inventory of semi-finished products amounting to 363.55 million yuan that is currently sealed due to litigation, preventing the auditor from obtaining sufficient evidence regarding its existence and rights [2][3]. Group 2: Impact on Financial Statements - The auditor could not determine the potential impact of the qualified opinion matters on the financial statements due to insufficient evidence, but these matters do not affect the nature of the company's profit or loss [4]. - The company reported a significant decline in revenue of 82.54% year-on-year, with total revenue of 284.55 million yuan for 2024 [4]. - The company faced a net cash flow from operating activities of -75.46 million yuan and current liabilities exceeding current assets by 759.71 million yuan, indicating severe financial distress [4][5]. Group 3: Going Concern Uncertainties - The company has suspended production and construction due to financial constraints, leading to a reduction in internal staff [4]. - Legal actions related to debt defaults have resulted in the freezing of major bank accounts and the sealing of certain assets [4][5]. - The audit report includes a section highlighting these uncertainties, which do not affect the overall audit opinion but warrant attention from financial statement users [5].
*ST岩石: 中兴财光华会计师事务所(特殊普通合伙)关于2024年度财务审计报告出具保留意见的专项说明