ZKTECO CO.(SZ:301330) Zhong Guo Jing Ji Wang·2026-01-12 06:40Core Viewpoint - Guangdong Securities Regulatory Bureau issued a warning letter to Entropy Technology Co., Ltd. and its executives due to multiple violations found during an inspection, including inaccurate revenue recognition, inadequate bad debt provisions, miscalculation of R&D expenses, incorrect inventory impairment provisions, and inaccurate disclosure of related party transactions [1][2][3][4][5][6]. Group 1: Revenue Recognition Issues - Entropy Technology inaccurately recognized revenue by misaligning the periods for rebate provisions and corresponding sales, resulting in a cross-period revenue recognition of 36.95 thousand yuan for 2024 [1][2]. Group 2: Bad Debt Provisions - The company failed to adequately provision for bad debts, particularly for clients with significant credit risk, only using an aging method without individual assessments, which does not comply with accounting standards [1][2][3]. Group 3: R&D Expense Accounting - Entropy Technology included salaries of non-R&D personnel in R&D expenses without proper documentation of project hours, leading to inaccurate financial disclosures in the 2024 annual report [2][3][4]. Group 4: Inventory Impairment Provisions - The company used an inappropriate sales expense rate of 15% from a different subsidiary for inventory impairment testing, while the actual rate was 57%, resulting in overestimated net realizable value and inaccurate impairment provisions [2][3][4]. Group 5: Related Party Transaction Disclosure - The reported amount of related party transactions with ZKTECO SOLUTIONS INC. was inconsistent, with actual sales amounting to 18.91 million yuan, significantly higher than the disclosed 11.34 million yuan [3][4][5]. Group 6: Accountability of Executives - The chairman, general manager, financial director, and board secretary of Entropy Technology were held primarily responsible for the violations, with specific individuals accountable for different issues [3][4][5].