SHHDKJ(SH:603192) Zheng Quan Zhi Xing·2025-08-25 16:13Company Overview - Shanghai Huide Technology Co., Ltd. was established on March 1, 2016, and listed on the Shanghai Stock Exchange in August 2018. The company operates in the chemical raw materials and chemical products manufacturing industry [1][2]. - As of December 31, 2024, the company has issued a total of 14.11537 million shares, with a registered capital of RMB 180 million [1]. Financial Reporting Basis - The financial statements are prepared in accordance with the accounting standards issued by the Ministry of Finance and are based on the assumption of going concern [2][3]. - The company's accounting period is 12 months, and the functional currency is Renminbi, with a subsidiary using Hong Kong dollars [2][3]. Accounting Policies and Estimates - The company follows specific accounting policies and estimates tailored to its operational characteristics, including the treatment of financial instruments and fixed assets [1][2]. - The company recognizes financial assets and liabilities upon entering into financial instrument contracts, classifying them based on the business model and cash flow characteristics [9][10]. Consolidation and Control - The company consolidates financial statements based on control, including all subsidiaries. Control is defined as having power over the investee and the ability to affect returns [4][5]. - The company treats the entire corporate group as a single accounting entity, applying uniform accounting policies for consolidated financial statements [5][6]. Revenue Recognition and Financial Instruments - Revenue is recognized based on the completion of performance obligations, and financial instruments are classified at initial recognition based on their characteristics [9][10]. - The company assesses expected credit losses for financial instruments, considering past events, current conditions, and forecasts of future economic conditions [15][16]. Inventory and Cost Measurement - Inventory is classified into raw materials, finished goods, and work in progress, measured at cost, and subject to lower of cost or net realizable value [21][22]. - The company uses a perpetual inventory system and applies a weighted average method for cost calculation [21]. Long-term Investments - Long-term equity investments are accounted for using the cost method or equity method, depending on the level of control or influence over the investee [22][24]. - The initial investment cost for equity investments is determined based on the fair value of identifiable net assets at the acquisition date [24][25]. Fixed Assets and Depreciation - Fixed assets are recognized when they are expected to generate economic benefits and are measured at cost, including any necessary subsequent expenditures [27][28]. - Depreciation is calculated using the straight-line method over the estimated useful life of the assets [28]. Borrowing Costs - Borrowing costs directly attributable to the acquisition or production of qualifying assets are capitalized, while other borrowing costs are recognized as expenses in the period incurred [29][30]. Intangible Assets - Intangible assets are initially measured at cost, including purchase price and related expenses necessary to prepare the asset for its intended use [30]. - Intangible assets with finite useful lives are amortized over their useful lives, while those with indefinite lives are not amortized [30].