Company Overview - Nanjing Wanyou Commercial Management Co., Ltd. was established on December 27, 2022, with a registered capital of 5 million RMB [1] - The company is primarily engaged in the sale of bulk snacks and operates under the management of its parent company, Fujian Wancheng Biotechnology Group Co., Ltd. [1] - As of May 31, 2025, the company has a total of 37 subsidiaries included in its consolidated financial statements [1] Financial Reporting - The financial statements are prepared based on the going concern assumption and are intended for the acquisition of minority shareholders' equity by Wancheng Group [1] - The financial statements comply with the requirements of enterprise accounting standards, reflecting the operating results and cash flows for the fiscal years 2025 and 2023 [2] Accounting Policies - The company has established specific accounting policies and estimates for revenue recognition and leasing transactions based on its operational characteristics [2] - The accounting period is aligned with the calendar year, running from January 1 to December 31 [2] Consolidation and Mergers - The company follows the principle of control to determine the scope of consolidated financial statements, which includes the company and all its subsidiaries [6] - For mergers under common control, the assets and liabilities are measured at the book value on the merger date, while for mergers not under common control, the acquisition cost includes the fair value of assets and liabilities on the purchase date [3][4] Financial Instruments - Financial assets are classified based on the business model and cash flow characteristics, with categories including those measured at amortized cost and those measured at fair value [10][12] - The company recognizes financial assets and liabilities at fair value upon initial recognition, with subsequent measurement based on their classification [12][14] Inventory Management - Inventory is primarily composed of finished goods and is valued at actual cost, including procurement and processing costs [25] - The company uses a perpetual inventory system and recognizes inventory write-downs when the net realizable value is lower than the cost [25]
万辰集团: 南京万优商业管理有限公司审计报告-众环审字(2025)0800048号