HBYH(SZ:000422) Zheng Quan Zhi Xing·2025-07-10 08:17Group 1 - The audit report provides a fair representation of the financial performance of Yichang Newfa Industrial Investment Co., Ltd. for the transitional period from August 1, 2024, to May 31, 2025 [1][2] - The management is responsible for preparing the consolidated profit and loss statement in accordance with the specified basis of preparation, ensuring it reflects a true and fair view [2][3] - The audit was conducted in accordance with Chinese CPA auditing standards, aiming to obtain reasonable assurance that the financial statements are free from material misstatement due to fraud or error [2][4] Group 2 - Yichang Newfa Industrial Investment Co., Ltd. was established on February 12, 2018, with a registered capital of 1.5 billion RMB, focusing on investment in emerging industries, petrochemicals, new energy, and environmental protection [5][6] - The company operates under a continuous operating assumption for the preparation of its consolidated profit and loss statement, covering the period from August 1, 2024, to May 31, 2025 [7][8] - The financial statements are prepared based on the relevant accounting standards and do not include comparative data for the transitional period [8][9] Group 3 - The company’s accounting policies include the recognition of financial instruments, with specific classifications for financial assets and liabilities based on their characteristics and management intentions [18][19] - The company assesses expected credit losses for financial instruments based on historical data, current conditions, and forecasts of future economic conditions [30][31] - Inventory is measured at the lower of cost and net realizable value, with specific methods for valuation and recognition of impairment losses [32][33]