YT(SH:600692) Zheng Quan Zhi Xing·2025-08-21 16:36Core Viewpoint - The company announced a correction of prior accounting errors and retrospective adjustments affecting financial reports from 2021 to 2024, resulting in significant adjustments to revenue, costs, and net profit figures [1][2][5]. Summary by Sections Accounting Error Correction - The company received a directive from the China Securities Regulatory Commission regarding the recognition of revenue from services provided to a client, which was deemed non-compliant with accounting standards [2][3]. - The correction will adjust the 2023 financial statements, reducing revenue by CNY 60,624,527.45 and costs by CNY 60,491,097.45, leading to a net profit reduction of CNY 133,430.00 [5][6]. Financial Impact - The adjustments will affect the following financial statement items for 2023: - Inventory: Decreased from CNY 1,466,381,178.95 to CNY 1,466,247,748.95 - Unappropriated profits: Decreased from CNY 426,807,285.80 to CNY 426,673,855.80 - Revenue: Decreased from CNY 1,305,275,359.31 to CNY 1,244,650,831.86 - Costs: Decreased from CNY 1,208,019,443.89 to CNY 1,147,528,346.44 - Net profit: Adjusted from CNY -3,144,608.24 to CNY -3,278,038.24 [5][6]. Client Sales Data Adjustment - The sales figures for the top five clients were corrected, with the following changes: - For 2021 to 2023, the sales amount for the top five clients increased from CNY 420,197,100.00 (31.8% of total sales) to CNY 506,762,900.00 (38.35% of total sales) [6][7]. - The adjustments reflect a more accurate representation of client sales and their impact on total sales [6][7]. Governance and Compliance - The audit committee and board of directors approved the corrections, affirming compliance with relevant accounting standards and regulations [8]. - The company emphasized its commitment to improving governance and financial reporting practices to prevent future discrepancies [9].