Company Overview - Fujian Wancheng Biotechnology Group Co., Ltd. was established on December 21, 2011, with an initial registered capital of 20 million RMB [1] - The company underwent a name change from Fujian Wancheng Biotechnology Co., Ltd. and is primarily engaged in the cultivation and sale of horticultural crops, including edible mushrooms [1][2] - The company has a total of 79 subsidiaries included in the consolidated financial statements as of May 31, 2025 [2] Financial Highlights - The company completed a public offering of 38.375 million shares, increasing its total share capital from 115.125 million to 153.5 million shares in April 2021 [1] - As of May 31, 2025, the total share capital of the company is 179,989,761 RMB [1] - The company has committed to achieving net profits of no less than 320 million RMB, 330 million RMB, and 350 million RMB for the years 2025, 2026, and 2027, respectively, totaling a minimum of 1 billion RMB during the commitment period [2] Major Asset Restructuring - The company is involved in a significant asset restructuring transaction, acquiring a 49% stake in Nanjing Wanyou Commercial Management Co., Ltd. for a total consideration of 1.379225 billion RMB [2] - The payment for this transaction will be made using the company's own and self-raised funds within 30 days after the completion of the transaction conditions [2] Accounting Policies - The consolidated financial statements are prepared based on the accounting standards set by the Ministry of Finance and relevant regulations [2] - The company follows specific accounting policies and estimates related to its main operating activities, including inventory and revenue recognition [2][3] Corporate Governance - The actual controller of the company is Wang Zenning, and the parent company is Fujian Sensitive Grass Agricultural Development Co., Ltd. [2] - The company has implemented an incentive plan for its employees, with stock options granted at prices of 12.07 RMB and 18.65 RMB per share [1][2]

福建立兴食品股份有限公司 审计报告及财务报表 审计报告 信会师报字[2025]第 ZA53501 号 福建立兴食品股份有限公司全体股东： 一、 审计意见 我们审计了福建立兴食品股份有限公司（以下简称立兴食品）财 务报表，包括 2023 年 12 月 31 日、2024 年 12 月 31 日及 2025 年 6 月 30 日的合并及母公司资产负债表，2023 年度、2024 年度及 2025 年 1-6 月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，公允反映了立兴食品 2023 年 12 月 31 日、2024 年 12 月 二、 形成审计意见的基础 我们按照中国注册会计师审计准则的规定执行了审计工作。审计 报告的"注册会计师对财务报表审计的责任"部分进一步阐述了我们 在这些准则下的责任。按照中国注册会计师职业道德守则，我们独立 于立兴食品，并履行了职业道德方面的其他责任。我们相信，我们获 取的审计证据是充分、适当的，为发表审计意见提供了基础。 三、 管理层和治理层对财务报表的责任 管理 ...

Core Opinion - The audit report for BrightGene (Suzhou) Co., Ltd. indicates that the financial statements for the year ending December 31, 2024, fairly represent the company's financial position and results of operations in accordance with accounting standards [2][3]. Financial Statements - The audit covered the consolidated and parent company balance sheets, income statements, cash flow statements, and changes in equity for the year 2024 [2]. - The financial statements are prepared based on the going concern assumption, indicating that the company is expected to continue its operations for the foreseeable future [17]. Key Audit Matters - Revenue recognition is identified as a key audit matter due to its significant impact on the consolidated financial statements and the complexity of the conditions for revenue recognition [3][4]. - The company recognizes sales revenue from domestic and export sales upon delivery and receipt of payment, ensuring that economic benefits are likely to flow [3]. - Technical income is recognized upon completion of contractual obligations, with specific criteria for contracts that include refund clauses [3][4]. - The assessment of accounts receivable and the adequacy of the allowance for bad debts are also considered key audit matters due to the significant amounts involved and the complexity of management's judgments [4][5]. Management Responsibilities - Management is responsible for preparing financial statements that fairly present the company's financial position and for maintaining effective internal controls to prevent material misstatements [6]. - The governance layer oversees the financial reporting process, ensuring compliance with relevant accounting standards [6]. Auditor 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 [6][7]. - The auditor evaluates the appropriateness of accounting policies and estimates made by management, as well as the overall presentation of the financial statements [7][8]. Company Overview - BrightGene (Suzhou) Co., Ltd. was established on August 20, 2015, and has undergone several changes in its capital structure and ownership since its inception [9][10]. - The company specializes in the research and development of pharmaceutical products, including APIs and intermediates, and has a registered capital of approximately 61,000 USD [9][10].

Core Viewpoint - The financial report of Xuchang KETOP Testing Research Institute Co., Ltd. for the first half of 2025 indicates a decrease in total assets and liabilities compared to the beginning of the year, with a notable change in cash flow and net profit. Financial Summary Assets - Total assets at the end of the period amount to ¥1,111,128,904.91, down from ¥1,156,643,926.36 at the beginning of the year, reflecting a decrease of approximately 3.9% [2][3] - Current assets total ¥710,038,426.38, a decrease from ¥735,393,864.16, representing a decline of about 3.4% [2][3] - Non-current assets amount to ¥401,090,478.53, down from ¥421,250,062.20, indicating a decrease of approximately 4.8% [3] Liabilities - Total liabilities are reported at ¥44,724,177.80, down from ¥79,029,008.83, showing a significant reduction of about 43.5% [3][5] - Current liabilities total ¥43,430,381.70, a decrease from ¥77,249,322.98, reflecting a decline of approximately 43.7% [3][5] - Non-current liabilities amount to ¥1,293,796.10, down from ¥1,779,685.85, indicating a decrease of about 27.3% [3] Equity - Total equity stands at ¥1,066,404,727.11, down from ¥1,077,614,917.53, reflecting a decrease of approximately 1.0% [3] - The company's capital reserve remains unchanged at ¥615,502,846.67 [3][5] Revenue and Profit - Total operating revenue for the first half of 2025 is ¥111,331,192.32, an increase from ¥107,850,944.77 in the same period of 2024, representing a growth of about 4.5% [5] - Total operating costs amount to ¥65,588,389.23, up from ¥59,896,286.17, indicating an increase of approximately 9.2% [5] - Net profit for the period is reported at ¥40,789,809.58, compared to ¥39,321,831.94 in the previous year, showing an increase of about 3.7% [6] Cash Flow - Net cash flow from operating activities is ¥51,322,215.95, compared to ¥49,969,659.85 in the previous year, reflecting an increase of approximately 2.7% [8] - Cash and cash equivalents at the end of the period total ¥89,566,273.34, down from ¥93,618,994.92 at the beginning of the year, indicating a decrease of about 4.0% [8]

Company Overview - The company, Yuyuan New Materials Co., Ltd., was originally named Yuyuan Semiconductor Materials Co., Ltd. and was established with the approval of the China Securities Regulatory Commission in 1999 [1][2] - The company is located in Beijing and operates in the non-ferrous metal smelting and rolling processing industry, focusing on rare, rare earth, precious metals, and semiconductor materials [2] Shareholding Structure - As of April 17, 2008, the controlling shareholder, China Yuyuan, held 57,250,000 shares, which were partially converted to tradable shares, reducing its holding from 55.17% to 39.48% [2] - By December 31, 2012, China Yuyuan increased its shareholding to 40.66% after acquiring an additional 2,119,750 shares [3] Capital Increase and Stock Issuance - The company conducted a non-public offering of 60,349,434 shares at a price of RMB 9.73 per share, increasing China Yuyuan's stake to 53.55% [4] - In 2014, the company executed a capital reserve transfer plan, doubling its total share capital to 838,778,332 shares [4] Financial Reporting and Accounting Policies - The company prepares its financial statements in accordance with the Enterprise Accounting Standards and has established specific accounting policies for bad debt provisions, depreciation, and research and development expenditures [6][7] - The financial statements reflect the company's financial position, operating results, and cash flows accurately [6] Financial Instruments and Risk Management - The company classifies financial assets into three categories: 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 [13][14] - The company assesses expected credit losses based on historical data and current economic conditions, applying different loss rates for various customer segments [22][24]

Core Viewpoint - The financial report of Changhong Huayi Compressor Co., Ltd. for the first half of 2025 indicates a significant increase in total assets and a slight decrease in revenue compared to the same period in 2024, reflecting the company's ongoing operational adjustments and market conditions [1][3]. Financial Summary Assets - Total assets increased to CNY 15,777,095,140.47 from CNY 13,591,963,974.51, marking a growth of approximately 16.1% [1][2]. - Current assets rose to CNY 12,086,298,293.27 from CNY 9,732,085,226.76, an increase of about 24.0% [1][2]. - Non-current assets decreased slightly from CNY 3,859,878,747.75 to CNY 3,690,796,847.20, a decline of approximately 4.4% [1][2]. Liabilities - Total liabilities increased to CNY 10,204,358,285.44 from CNY 8,172,347,155.55, reflecting a rise of about 24.8% [2][3]. - Current liabilities rose significantly from CNY 7,643,270,800.48 to CNY 9,672,435,201.82, an increase of approximately 26.6% [2][3]. - Non-current liabilities remained relatively stable, increasing slightly from CNY 529,076,355.07 to CNY 531,923,083.62 [2][3]. Revenue and Profitability - Total operating revenue for the first half of 2025 was CNY 6,627,892,485.68, down from CNY 6,730,065,905.28 in the same period of 2024, a decrease of about 1.5% [3][4]. - Total operating costs decreased to CNY 6,280,716,525.39 from CNY 6,401,622,829.83, a reduction of approximately 1.9% [3][4]. - Net profit for the first half of 2025 was CNY 354,007,175.71, compared to CNY 320,178,761.04 in the previous year, representing an increase of about 10.6% [4][5]. Cash Flow - Net cash flow from operating activities was CNY 269,018,494.83, down from CNY 369,126,038.35 in the first half of 2024 [5][6]. - Cash flow from investing activities showed a net inflow of CNY 9,710,067.54, compared to CNY 356,956,061.70 in the previous year [5][6]. - Cash flow from financing activities generated a net inflow of CNY 1,340,350,771.28, an increase from CNY 354,011,843.89 in the same period of 2024 [5][6]. Shareholder Equity - Total equity attributable to shareholders increased to CNY 4,170,955,525.69 from CNY 4,113,449,525.84, reflecting a growth of approximately 1.4% [2][3]. - The company's basic earnings per share rose to CNY 0.3696 from CNY 0.3259, indicating improved profitability on a per-share basis [4][5].

Core Viewpoint - Shanghai New Power Automotive Technology Co., Ltd. received an administrative regulatory measure decision from the Shanghai Securities Regulatory Bureau due to violations related to revenue recognition and disclosure of related party transactions [1][2][3] Group 1: Violations and Regulatory Actions - The company recognized sales revenue without the transfer of control over certain goods, violating the Accounting Standards for Business Enterprises [1] - The revenue data related to SAIC Hongyan in the restructuring report and annual reports from 2021 to 2023 was found to be inaccurate, breaching the Information Disclosure Management Measures [2] - The company failed to disclose its relationship and transactions with Chongqing Heavy Truck Hui Technology Co., Ltd., which is controlled by related natural persons, violating the disclosure regulations [2] Group 2: Responsibilities and Consequences - Lou Jianping, the then-general manager of SAIC Hongyan and a director of the company, was held responsible for the violations and received a warning letter [2][3] - Gu Yaohui, the then-financial officer, was also held accountable for the revenue misreporting and received a warning letter [3] - Wang Hongbin, the then-secretary of the board, was responsible for failing to disclose related party transactions and received a warning letter [3] Group 3: Company Response and Future Actions - The company and relevant personnel will actively address the issues raised in the decision, ensuring compliance with laws and regulations [3] - The company will enhance its awareness of compliance and strengthen information disclosure management to prevent similar incidents in the future [3] - The administrative regulatory measures will not affect the company's normal production and management activities [4]

Audit Opinion - The audit report states that the financial statements of Shanghai Liangxi Technology Co., Ltd. fairly reflect its financial position and results of operations for the periods ending December 31, 2023, December 31, 2024, and June 30, 2025, in accordance with accounting standards [1][2]. Key Audit Matters - Revenue recognition is identified as a key audit matter, with reported revenues of 26.7943 million yuan, 74.3535 million yuan, and 70.7961 million yuan for the years 2023, 2024, and the first half of 2025, respectively [1][2]. - The allowance for bad debts on accounts receivable is also a key audit matter, with accounts receivable values of 2.3690 million yuan, 9.4363 million yuan, and 28.3709 million yuan as of December 31, 2023, December 31, 2024, and June 30, 2025, respectively [2][3]. Management Responsibilities - The management of the company is responsible for preparing financial statements that fairly present the company's financial position and results, and for maintaining effective internal controls to prevent material misstatements due to fraud or error [3][4]. Company Overview - Shanghai Liangxi Technology Co., Ltd. was established on June 7, 2022, and officially registered on June 20, 2022, with a business scope that includes technology services, manufacturing of electronic components, and software development [5][6]. Financial Reporting Basis - The financial statements are prepared based on the going concern assumption and in accordance with the accounting standards issued by the Ministry of Finance [6][7]. Accounting Policies - The company recognizes revenue and estimates bad debt provisions based on its operational characteristics, with specific policies detailed in the financial statement notes [7][8].

Group 1 - The audit opinion states that the financial statements of Jiangsu Damo Semiconductor Technology Co., Ltd. fairly reflect its financial position as of December 31, 2024, and March 31, 2025, in accordance with accounting standards [2][3] - The management is responsible for preparing the financial statements and ensuring they are free from material misstatements due to fraud or error [2][3] - The governance layer oversees the financial reporting process of the company [3] Group 2 - The company was established on April 11, 2017, with a registered capital of 21.621621 million yuan [5] - As of March 31, 2025, the paid-in registered capital of the company is 5 million yuan [5] - The company operates in the specialized equipment manufacturing industry, focusing on the refurbishment, assembly, research, and production of integrated circuit equipment [5] Group 3 - The financial statements are prepared based on the going concern assumption, indicating that the company has the ability to continue its operations for at least 12 months from the reporting date [5][6] - The company adheres to the accounting policies and estimates in accordance with the accounting standards, ensuring that the financial statements reflect its financial status and operating results accurately [5][6] Group 4 - The company uses the Chinese yuan as its functional currency for accounting purposes [6] - The company evaluates control over subsidiaries based on the ability to direct relevant activities and the exposure to variable returns [7][8] Group 5 - The consolidated financial statements include the financial statements of the company and its subsidiaries, prepared in accordance with consistent accounting policies [8][9] - The company recognizes the interests and losses attributable to minority shareholders separately in the consolidated financial statements [8][9] Group 6 - The company assesses the expected credit losses for financial assets based on the risk of default and recognizes impairment losses accordingly [23][24] - The company categorizes financial instruments into three classes based on their cash flow characteristics and business model [16][17]

Audit Opinion - The audit report states that the financial statements of Zhangjiagang Free Trade Zone Foreign Investment Service Co., Ltd. fairly reflect its financial position as of March 31, 2025, and its operating results and cash flows for the first quarter of 2025 [1][2]. Basis for Audit Opinion - The audit was conducted in accordance with Chinese Certified Public Accountant auditing standards, ensuring independence and adherence to professional ethics [2][3]. - Sufficient and appropriate audit evidence was obtained to support the audit opinion [2]. Management and Governance Responsibilities - Management is responsible for preparing financial statements that fairly present the company's financial position and for maintaining necessary internal controls to prevent material misstatements due to fraud or error [2]. - The governance body oversees the financial reporting process [2]. 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 [3]. - The auditor assesses risks of material misstatement and designs audit procedures to address these risks [3][4]. Company Overview - Zhangjiagang Free Trade Zone Foreign Investment Service Co., Ltd. was established on August 18, 1998, with a registered capital of 467.3316 million RMB [6]. - The company provides various services related to foreign investment, construction, production, management, and international trade [6]. Financial Reporting Basis - The financial statements are prepared based on the going concern assumption and comply with the relevant accounting standards issued by the Ministry of Finance [6][7]. - The company has assessed its ability to continue as a going concern and found no significant uncertainties regarding its operations for the next 12 months [6]. Important Accounting Policies - The company has established specific accounting policies and estimates for revenue recognition and other transactions based on its operational characteristics [6]. - The financial statements reflect the company's financial position and results of operations accurately as of March 31, 2025 [6]. Financial Instruments - Financial assets are classified into categories based on the management's business model and cash flow characteristics [17][22]. - The company recognizes expected credit losses for financial assets based on historical data and future economic conditions [17][20]. Inventory and Costing - Inventory is classified into raw materials, low-value consumables, and finished goods, with costs determined using the weighted average method [23]. - The company assesses the net realizable value of inventory and recognizes impairment losses when necessary [23][24].