Group 1 - The core issue raised by investors is the significant discrepancy in interest income and income tax between the US and A-share reports of the company, specifically highlighting a negative interest income of -15.8 million USD (approximately -110 million RMB) in the US market for 2021, compared to an interest income of 44.1 million RMB in the A-share annual report [1] - The company clarified that the financial statements for the US and A-share are prepared according to different accounting standards, namely US Generally Accepted Accounting Principles (GAAP) and Chinese Accounting Standards, and referred investors to the section on "Differences in Accounting Data under Domestic and Foreign Accounting Standards" in the A-share financial report for more details [1]

Core Viewpoint - Dekang Agriculture and Animal Husbandry (02419) announced its decision to adopt Chinese Accounting Standards for financial reporting starting from the fiscal year ending December 31, 2025, to enhance operational efficiency and align with industry practices [1] Group 1 - The company is permitted to use Chinese Accounting Standards for financial statements as per the policy established by the Hong Kong Stock Exchange since December 15, 2010 [1] - The decision to adopt these standards is based on the recognition by the Ministry of Finance and the China Securities Regulatory Commission of domestic accounting firms to provide auditing services [1] - The board of directors believes that adopting Chinese Accounting Standards is in the best interest of the company and its shareholders [1] Group 2 - The proposal to adopt Chinese Accounting Standards will require approval from shareholders at the upcoming first extraordinary general meeting in 2026 [1]

Core Viewpoint - Dekang Agriculture (02419) plans to adopt Chinese Accounting Standards for its financial statements starting from the fiscal year ending December 31, 2025, to enhance operational efficiency and align with industry practices [1] Group 1: Regulatory Context - The company is permitted to use Chinese Accounting Standards for financial reporting as per the regulations set by the Hong Kong Stock Exchange since December 15, 2010 [1] - The adoption of these standards is supported by the Ministry of Finance and the China Securities Regulatory Commission, allowing qualified domestic accounting firms to provide auditing services [1] Group 2: Strategic Decision - The board of directors believes that adopting Chinese Accounting Standards is in the best interest of the company and its shareholders [1] - The proposal to adopt these standards will require approval from shareholders at the upcoming first extraordinary general meeting in 2026 [1]

Group 1 - The company approved a comprehensive credit facility application of up to RMB 50.50 billion for 2026, an increase of RMB 1.90 billion from 2025 [1][2] - The new credit facilities will be sourced from several banks, including an additional RMB 0.40 billion from Industrial and Commercial Bank of China, RMB 1.00 billion from Ningbo Bank, and RMB 0.50 billion from Xiamen International Bank [1] - The credit facility will primarily support the company's and its subsidiaries' working capital needs, including loans, bank acceptance bills, guarantees, and trade financing [1] Group 2 - The company will adopt Chinese Accounting Standards for financial reporting starting from the 2025 annual financial report, eliminating the need for a separate overseas audit firm [3][5] - This decision is based on the substantial convergence of Chinese Accounting Standards and International Financial Reporting Standards, aimed at improving disclosure efficiency and reducing costs [7][9] - The domestic audit firm, Deloitte Touche Tohmatsu Certified Public Accountants LLP, will handle both A-share and H-share financial report audits without any change in audit fees [8][9]

Core Viewpoint - The company will adopt Chinese Accounting Standards for its financial reports starting from the 2025 annual financial report, aiming to enhance disclosure efficiency and reduce costs [1][2] Group 1: Financial Reporting Changes - The company will unify its financial reporting by using Chinese Accounting Standards due to the substantial convergence with International Financial Reporting Standards [1][2] - This change is expected to simplify the financial preparation process and save on disclosure and audit costs [1][2] Group 2: Audit Firm Appointment - The company has appointed Crowe (Hong Kong) CPA Limited as the auditor for its H-share issuance and listing on the Hong Kong Stock Exchange, with the appointment period ending after the completion of the listing on October 28, 2025 [1] - The audit firm has been recognized by the Ministry of Finance and the China Securities Regulatory Commission, allowing it to provide audit services under Chinese domestic auditing standards [2] - The same audit firm will handle both A-share and H-share financial report audits for the 2025 fiscal year without any change in audit fees [2]

Core Viewpoint - The company will adopt Chinese Accounting Standards for its financial reporting starting from the 2025 annual financial report, aiming to enhance disclosure efficiency and reduce costs [1][2]. Group 1: Financial Reporting Changes - The company will unify its financial reporting by using Chinese Accounting Standards due to the substantial convergence with International Financial Reporting Standards [1][2]. - This change is expected to simplify the financial preparation process and save on disclosure and audit costs [1]. Group 2: Audit Firm Appointment - The company has appointed Crowe (Hong Kong) CPA Limited as the auditor for its H-share issuance and listing on the Hong Kong Stock Exchange, with the appointment concluding after the completion of the listing on October 28, 2025 [1]. - The audit firm Crowe (Special General Partnership) has been recognized by the Ministry of Finance and the China Securities Regulatory Commission, allowing it to provide audit services under Chinese mainland standards [2]. Group 3: Board Approval - The entire audit committee and board of directors unanimously agree that the adoption of Chinese Accounting Standards will not adversely affect the authenticity and accuracy of financial reports or investor decision-making [2]. - The decision to not appoint a separate overseas audit firm for the 2025 financial year was made based on the qualifications of the domestic audit firm [2].

Core Viewpoint - There is a significant discrepancy between the financial data reported in the Hong Kong IPO prospectus and the A-share annual report of Shouchuang Securities, with a total revenue difference of 31 billion yuan for the years 2022-2024 [1] Financial Data Discrepancy - The total revenue disclosed in the Hong Kong IPO prospectus for 2022-2024 is 91.16 billion yuan, while the A-share annual report shows a total of 59.33 billion yuan for the same period [1] - The difference in revenue represents a variation of between one-third to one-half [1] Accounting Standards - The financial report in the Hong Kong IPO prospectus is prepared based on International Financial Reporting Standards (IFRS), which includes various income sources such as commission income, interest income, investment income, and other gains and losses [1] - The A-share financial report is based on Chinese Accounting Standards, which reports net commission income and net interest income, among other categories [1] Source of Discrepancy - The primary reason for the discrepancy lies in how commission and interest expenses are treated, either as deductions from revenue or as total expenses [1] - Differences in segment reporting of income and expenses are also attributed to the varying accounting standards used [1]