上汽红岩整改补充公告发布！

Core Viewpoint - The company has issued a supplementary announcement regarding the rectification report, addressing revenue misstatements in its financial disclosures from 2021 to 2023, and outlining corrective measures taken to ensure compliance with accounting standards [2][4]. Summary by Sections Rectification Measures - The company's wholly-owned subsidiary, SAIC Hongyan, has reviewed historical sales revenue and strengthened contract reviews to ensure clear and precise accounting treatment [2]. - SAIC Hongyan has improved internal management processes related to product returns, emphasizing the need for clarity in accounting treatment [3]. - For the fiscal year 2024, SAIC Hongyan will recognize domestic sales revenue upon delivery and signing by the customer, with contracts revised accordingly for 2025 [3]. Revenue Adjustments - Adjustments to revenue include a reduction of 1,506,283.19 yuan for 2019, an increase of 769,911.50 yuan for 2020, a reduction of 2,993,097.35 yuan for 2021, a reduction of 647,168.14 yuan for 2022, and an increase of 1,414,955.75 yuan for 2023 [4]. - The impact of these adjustments on reported revenues for the years 2019 to 2023 is less than 0.02%, indicating no significant accounting errors [4]. Financial Management Improvements - The finance department has organized training on accounting standards, particularly focusing on revenue recognition, to enhance compliance and accuracy in financial reporting [4]. - SAIC Hongyan plans to integrate financial and operational departments to improve communication and ensure accurate accounting practices [5]. - Following a court ruling on July 18, 2025, SAIC Hongyan has entered bankruptcy reorganization, with appointed managers overseeing the process to enhance internal management and operational standards [5].