Core Viewpoint - The company held its seventh board meeting on July 25, 2025, where it approved the capital increase and introduction of investors for its subsidiary, Beijing Weiduoduo E-commerce Co., Ltd., and corrected the financial data for the first three quarters of 2024 [1][4]. Group 1: Board Meeting Resolutions - The board meeting was convened with all nine directors present, and the resolutions were passed unanimously [2][3]. - The board approved the proposal regarding the capital increase and introduction of investors for the subsidiary [1]. - The proposal for correcting the financial data for the first three quarters of 2024 was also approved [4][6]. Group 2: Financial Data Correction - The company acknowledged discrepancies in the reported revenue for the first three quarters of 2024, with differences of -16.21%, -10.23%, and -15.91% compared to previous reports [16]. - The company explained that the corrections were due to a change in revenue recognition methods, specifically the adoption of net method for certain transactions [17][20]. - The company emphasized that the corrections align with accounting standards and improve the quality of financial information [10][11]. Group 3: Compliance and Governance - The company received a regulatory letter from the Shanghai Stock Exchange regarding its 2024 annual report, prompting a review of its revenue recognition practices [15]. - The company has implemented a multi-dimensional evaluation system for customers and suppliers to enhance risk management and compliance [54][56]. - The company is committed to improving the accuracy and reliability of its financial reporting through enhanced training and understanding of accounting standards among its financial personnel [57][58].

Audit Opinion - The audit report concludes that the financial statements of Zhejiang Suote Material Technology Co., Ltd. fairly reflect the company's financial position as of May 31, 2025, December 31, 2024, and December 31, 2023, in accordance with accounting standards [2][3]. Management and Governance Responsibilities - The management is responsible for preparing the financial statements in accordance with accounting standards and ensuring that they are free from material misstatement due to fraud or error [3]. - The governance body oversees the financial reporting process [3]. Auditor's Responsibilities - The auditor's goal is to obtain reasonable assurance that the financial statements are free from material misstatement, whether due to fraud or error [4]. - The auditor communicates with the governance body regarding the planned audit scope, timing, and significant findings [5]. Financial Position - As of May 31, 2025, total assets amounted to approximately 2.96 billion RMB, an increase from 2.41 billion RMB in 2024 and 1.58 billion RMB in 2023 [6][8]. - Current assets totaled approximately 2.31 billion RMB in 2025, compared to 1.73 billion RMB in 2024 and 861.95 million RMB in 2023 [6][7]. Liabilities and Equity - Total liabilities as of May 31, 2025, were approximately 2.30 billion RMB, up from 1.79 billion RMB in 2024 and 532.06 million RMB in 2023 [8][9]. - Shareholders' equity was approximately 666.55 million RMB in 2025, compared to 622.80 million RMB in 2024 and 1.05 billion RMB in 2023 [8]. Income Statement - For the period of January to May 2025, total operating revenue was approximately 2.28 billion RMB, a decrease from 3.55 billion RMB in 2024 and an increase from 1.26 billion RMB in 2023 [9][10]. - Total operating costs for the same period were approximately 2.20 billion RMB, compared to 3.36 billion RMB in 2024 and 1.24 billion RMB in 2023 [9][10]. Cash Flow - Net cash flow from operating activities for January to May 2025 was approximately 1.65 billion RMB, compared to 2.84 billion RMB in 2024 and 1.02 billion RMB in 2023 [10].

Core Viewpoint - New Oriental Materials Co., Ltd. has received an inquiry letter from the Shanghai Stock Exchange regarding its 2024 annual report, particularly focusing on its newly launched computing power business and related financial disclosures [1][2]. Group 1: Computing Power Business - The company reported a revenue of 27.32 million yuan from its computing power business with a gross margin of 30.98% [1]. - The top five suppliers have changed significantly, with new suppliers accounting for 22% of total annual purchases [1]. - Fixed assets increased by 131% year-on-year to 256 million yuan, primarily due to the completion of construction projects and the purchase of computing power-related equipment [1]. Group 2: Revenue Recognition and Business Model - The computing power business operates on a leasing model, where the company builds and leases computing centers to clients, charging service fees based on contracts [2][4]. - Revenue recognition aligns with the service confirmation documents, confirming income monthly during the service period [6][9]. - The company ensures compliance with accounting standards, confirming that revenue recognition does not substitute gross for net accounting [6][11]. Group 3: Supplier and Customer Relationships - The company has only two clients for its computing power business, with detailed disclosures on supplier and customer relationships required by the inquiry [7][8]. - The gross margin of the computing power business is influenced by the cost structure, with the company comparing its margins to those of similar companies [8][9]. Group 4: Accounts Receivable - The company reported accounts receivable of 163 million yuan, a 21% increase year-on-year, representing 37% of total revenue [11][12]. - The inquiry raised concerns about potential related party transactions involving accounts receivable from certain companies [11][12]. Group 5: Trust Financial Products - The company has invested 50 million yuan in a trust financial product that has been overdue since 2022, with no impairment recognized [19][20]. - The trust plan's management and investment decision-making processes were outlined, indicating that the company does not control the investment decisions [22][24]. - The underlying assets of the trust plan are confirmed to be in line with the initial investment scope, with no evidence of fund occupation by related parties [25][28]. Group 6: Sales Expenses - Sales expenses increased by 24% to 31.58 million yuan, primarily due to higher labor and business entertainment costs [31][32]. - The company provided detailed disclosures on major sales expenses, including business entertainment and repair costs, confirming that most payments were made to non-related parties [32][34]. - The company’s internal control processes for large expenditures were confirmed to be effectively executed [39][41].

Group 1 - The audit report indicates that the financial statements of Danhua Renewable Energy (Zhuhai) Technology Co., Ltd. fairly reflect its financial position and operating results for the year ended December 31, 2024, in accordance with accounting standards [2][3][4] - The company was acquired by Shenzhen Baoying Construction Holdings Group Co., Ltd. in June 2024 and is registered in Zhuhai, Guangdong Province, with a registered capital of RMB 1 million [5][6] - The company operates primarily in the technology promotion and application service industry, focusing on energy management services, solar power technology services, and related equipment sales [5][6] Group 2 - The consolidated financial statements include three wholly-owned subsidiaries, reflecting a complete control structure [7][12] - The financial statements are prepared based on actual transactions and in compliance with the accounting standards issued by the Ministry of Finance [8][12] - The company has assessed its ability to continue as a going concern and found no significant doubts regarding its operational viability [8][12]

Group 1 - The audit report indicates that the consolidated financial statements of Danhua Renewable Energy (Zhuhai) Technology Co., Ltd. fairly reflect its financial position as of May 31, 2025, and its operational results and cash flows for the period from January to May 2025 [1][2][3] - The management of Danhua Renewable Energy is responsible for preparing the financial statements in accordance with accounting standards and ensuring that they are free from material misstatement due to fraud or error [3][4] - The audit was conducted in accordance with Chinese CPA auditing standards, and sufficient evidence was obtained to support the audit opinion [1][5] Group 2 - Danhua Renewable Energy was officially established on May 6, 2023, with a registered capital of RMB 1,000,000 [6][7] - The company operates in various sectors including energy management services, solar power technology services, and environmental protection equipment sales [6][7] - The financial statements are prepared based on the going concern assumption, indicating the management's belief in the company's ability to continue operations for at least 12 months following the approval date of the financial statements [7][8] Group 3 - The company adheres to the accounting policies and estimates as per the relevant accounting standards, ensuring that the financial statements provide a true and complete reflection of its financial status [7][8] - The company employs a perpetual inventory system for its stock management and recognizes inventory impairment losses when the cost exceeds the net realizable value [27][28] - Long-term equity investments are measured based on the initial investment cost, which includes direct costs associated with the acquisition [30][31]

广东省建筑科学研究院集团股份有限公司 审计报告及财务报表 广东省建筑科学研究院集团股份有限公司 审计报告及财务报表 （2022 年 1 月 1 日 至 2024 年 12 月 31 日止） 一、 审计报告 1-6 二、 财务报表 合并资产负债表和母公司资产负债表 1-4 合并利润表和母公司利润表 5-6 合并现金流量表和母公司现金流量表 7-8 合并所有者权益变动表和母公司所有者权益变动 9-14 表 财务报表附注 1-187 审计报告 信会师报字2025第 ZM10079 号 广东省建筑科学研究院集团股份有限公司全体股东： 一、 审计意见 我们审计了广东省建筑科学研究院集团股份有限公司（以下简称 广东建科）财务报表，包括 2022 年 12 月 31 日、2023 年 12 月 31 日 及 2024 年 12 月 31 日的合并及母公司资产负债表，2022 年度、2023 年度及 2024 年度的合并及母公司利润表、合并及母公司现金流量表、 合并及母公司所有者权益变动表以及相关财务报表附注。 我们认为，后附的财务报表在所有重大方面按照企业会计准则的 规定编制，公允反映了广东建科 2022 年 12 月 3 ...

Company Overview - Guangdong Provincial Institute of Architectural Science Group Co., Ltd. was established on December 25, 2013, with a registered capital of RMB 16.376 million [1] - The company underwent a shareholding reform and was officially registered as a joint-stock company on December 16, 2014, with a new registered capital of RMB 23 million [1] - As of March 31, 2025, the registered capital is RMB 31.39 million, with a total share capital of 31.39 million shares [1] Shareholding Structure - The major shareholder is Guangdong Provincial Construction Engineering Group Holdings Co., Ltd., holding 73.62% of the shares [1] - Other significant shareholders include Guangdong State-owned Enterprise Restructuring Development Fund (10%) and Guangdong Yueke Financial Group Co., Ltd. (5%) [1] Business Scope - The company operates in the research and experimental development industry, providing technical services, consulting, and transfer related to construction and civil engineering [1] - Additional services include engineering quality testing, product quality inspection, software development, and energy application optimization [1] Financial Reporting Basis - The financial statements are prepared in accordance with the accounting standards issued by the Ministry of Finance and reflect the company's financial position as of March 31, 2025 [2] - The accounting period is from January 1 to December 31 each year, with the reporting currency being RMB [2] Accounting Policies - The company adopts specific accounting policies and estimates based on its operational characteristics, including revenue recognition and asset impairment [3][4] - The company uses the equity method for accounting for investments in joint ventures and associates [23][25] Financial Instruments - Financial assets are classified at initial recognition as either measured at amortized cost, at fair value through other comprehensive income, or at fair value through profit or loss [9][12] - The company assesses expected credit losses for financial instruments based on historical data and future economic conditions [18][19] Inventory Management - Inventory is classified into raw materials, finished goods, and work in progress, measured at cost or net realizable value, whichever is lower [21] - The company uses the first-in, first-out method for inventory valuation [21] Contract Assets and Liabilities - Contract assets are recognized when the company has the right to receive payment for goods or services transferred to customers, contingent on factors other than the passage of time [22] - The company assesses expected credit losses for contract assets similarly to other financial instruments [22] Non-current Assets Held for Sale - Non-current assets are classified as held for sale when they are expected to be sold rather than used, and their carrying amount is adjusted to fair value less costs to sell [22]

Audit Opinion - The audit report states that the financial statements of Zhongyan (Inner Mongolia) Alkali Industry Co., Ltd. fairly reflect its financial position as of June 30, 2025, in accordance with accounting standards [2][3]. Company Overview - Zhongyan (Inner Mongolia) Alkali Industry Co., Ltd. is a limited liability company established on March 28, 2025, with a registered capital of RMB 40 million [5]. - The company operates in the mining industry, with business activities including non-coal mining, production of food and feed additives, and electricity generation [5]. Financial Reporting - The financial statements are prepared based on the going concern assumption, and the management is responsible for ensuring that the financial statements are free from material misstatements due to fraud or error [3][4]. - The financial report was approved for release on July 9, 2025 [10]. Accounting Policies - The company follows the accrual basis of accounting and uses historical cost as the measurement basis for its financial reporting [10]. - The company recognizes financial assets and liabilities based on their classification, including those measured at amortized cost and those measured at fair value [10][11]. Inventory and Assets - Inventory is measured at the lower of cost and net realizable value, with specific methods for different types of inventory [20]. - Fixed assets are recognized at cost and depreciated using the straight-line method over their useful lives [25][26]. Long-term Investments - Long-term equity investments are accounted for using the equity method, with adjustments made for the share of profits or losses from the investee [22][23]. Financial Instruments - The company classifies financial instruments based on their business model and cash flow characteristics, with specific accounting treatments for different types of financial assets and liabilities [10][11][12].

Company Overview - Source Photonics Holdings (Cayman) Limited was established on November 17, 2010, in the Cayman Islands with a registered capital of $50,000 [1] - The company is primarily engaged in the research, development, production, and sales of optical chips, optical components, and optical modules, mainly used in data centers and telecommunications [1] Financial Reporting Basis - The financial statements are prepared in accordance with the accounting standards issued by the Ministry of Finance, based on the going concern principle [1] - The accounting period follows the calendar year, from January 1 to December 31, with the current reporting period defined as the first quarter of 2025 [1] Accounting Policies - The company capitalizes R&D expenses and recognizes revenue based on specific conditions tailored to its operational characteristics [1] - Significant accounting policies include the treatment of construction in progress, investment activities, and capitalized R&D projects, with a threshold of RMB 5 million for materiality [1] Consolidation and Mergers - For mergers under common control, the assets and liabilities of the acquired entity are measured at their book value on the merger date [2] - Non-common control mergers recognize the acquisition cost at fair value, with any excess over the identifiable net assets recognized as goodwill [2] Financial Instruments - Financial assets are classified at initial recognition based on the business model and cash flow characteristics, including those measured at amortized cost and fair value [9][10] - The company assesses expected credit losses based on historical data, current conditions, and forecasts of future economic conditions [18][19] Currency and Foreign Operations - The company operates in multiple currencies, with the reporting currency being USD, while subsidiaries may use RMB or TWD based on their operational environments [1] - Foreign currency transactions are translated at the exchange rate on the transaction date, with monetary items at the balance sheet date rate [7][8] Inventory Management - Inventory is classified into raw materials, work in progress, and finished goods, with valuation based on actual cost [29] - The company uses a perpetual inventory system and assesses inventory for impairment when the net realizable value is lower than cost [30] Long-term Investments - Long-term equity investments are accounted for using the cost method for subsidiaries and the equity method for associates and joint ventures [31] - The initial investment cost for mergers is based on the book value of the acquired entity's net assets or the fair value of consideration paid [31]

Company Overview - Hansong (Nanjing) Technology Co., Ltd. was established on August 21, 2003, and transitioned to a joint-stock company on June 1, 2022 [2] - The company operates in the computer, communication, and other electronic equipment manufacturing industry, focusing on high-performance audio products, innovative audio, and AIoT smart products [2] - The financial statements are prepared based on the assumption of going concern, with no significant doubts regarding the company's ability to continue operations in the next 12 months [2] Financial Reporting Basis - The financial statements comply with the requirements of the enterprise accounting standards, reflecting the company's financial position, operating results, and cash flows accurately [3] - The accounting period is from January 1 to December 31, with a short operating cycle defined as 12 months for asset and liability liquidity classification [3] Important Accounting Policies - The company has established specific accounting policies and estimates for financial instrument impairment, fixed asset depreciation, intangible assets, and revenue recognition [2][3] - The company uses the weighted average method for inventory valuation and applies a perpetual inventory system [27] Financial Instruments - Financial assets are classified into three categories upon initial recognition: measured at amortized cost, measured at fair value with changes recognized in other comprehensive income, and measured at fair value with changes recognized in profit or loss [7] - The company assesses expected credit losses based on the risk of default and recognizes loss provisions accordingly [15][14] Long-term Assets - Long-term assets, including fixed assets and intangible assets, are subject to impairment testing if there are indications of impairment [19][28] - Fixed assets are depreciated using the straight-line method over their useful lives, which vary by asset type [24] Research and Development Expenses - R&D expenses include salaries, direct inputs, depreciation, and amortization related to R&D activities [27] - The company capitalizes borrowing costs directly attributable to the acquisition or production of qualifying assets [25] Equity and Liabilities - The company recognizes liabilities for employee benefits and provisions for expected liabilities when it is probable that an outflow of resources will occur [30][32] - Share-based payments are accounted for based on the fair value of equity instruments granted to employees [32]