广西五洲交通股份有限公司 第十一届董事会第二次会议决议公告

Core Viewpoint - The company, Guangxi Wuzhou Transportation Co., Ltd., has announced the correction of prior accounting errors and retrospective adjustments for the financial reports from 2022 to 2024, following directives from the Guangxi Securities Regulatory Bureau [10][11]. Meeting Details - The company's 11th Board of Directors' second meeting was held on December 19, 2025, via telecommunication, with all 12 directors present [3][4]. - The meeting's agenda included the approval of the proposal regarding the correction of prior accounting errors and the report on the rectification measures taken in response to the Guangxi Securities Regulatory Bureau's directives [5][6]. Accounting Error Correction - The company will adjust the financial statements for the years 2022, 2023, and 2024, reducing the reported operating income and costs by CNY 185,972,816.10 for 2022, CNY 15,942,424.01 for 2023, and CNY 260,402,624.54 for 2024 [10][11]. - The adjustments will not affect the company's total assets, total liabilities, net assets, net profit, or cash flow from operating activities [10][11]. Reasons for Accounting Errors - The errors were identified as stemming from insufficient basis for revenue recognition in certain business transactions and incorrect application of the gross method for revenue recognition [11][17]. - The company has undertaken a thorough self-examination and implemented corrective measures in accordance with relevant accounting standards and regulations [11][18]. Rectification Measures - The company has changed its revenue recognition method from the gross method to the net method and has completed the necessary adjustments to its financial reports [18][19]. - The company has also addressed issues related to the failure to query the integrity records of proposed directors and senior management, ensuring compliance with regulations moving forward [21][22]. Audit Committee and Board Opinions - The Audit Committee and the Board of Directors have both approved the corrections, affirming that the adjustments align with accounting standards and improve the accuracy of financial reporting [12][12]. Future Commitments - The company is committed to enhancing its accounting practices and internal controls to prevent similar issues in the future, ensuring the quality of financial disclosures and maintaining investor trust [14][24].