Core Viewpoint - The audit report for Shuangle Pigment Co., Ltd. indicates that the financial statements for the year 2022 fairly reflect the company's financial position and operating results in accordance with accounting standards [1][2]. Audit Opinion - The audit opinion states that the financial statements are prepared in accordance with accounting standards and provide a fair view of the company's financial status as of December 31, 2022 [1]. - The audit was conducted following the Chinese Certified Public Accountant auditing standards, ensuring independence and ethical compliance [1][3]. Key Audit Matters - **Revenue Recognition**: The audit focused on the recognition of domestic sales revenue, assessing the effectiveness of internal controls and the appropriateness of accounting policies [1][2]. - **Recoverability of Accounts Receivable**: The audit evaluated the methods used to estimate the recoverability of accounts receivable, with a specific focus on the adequacy of provisions for bad debts [1][2]. - **Existence and Valuation of Fixed Assets**: The audit examined the existence, accuracy, and valuation of fixed assets, including the assessment of depreciation policies [2][3]. Financial Statements Overview - **Consolidated Balance Sheet**: As of December 31, 2022, total assets amounted to RMB 1,915,186,656.57, a decrease from RMB 1,939,936,093.31 in the previous year [6][7]. - **Consolidated Income Statement**: Total operating revenue for 2022 was RMB 1,270,705,476.24, down from RMB 1,336,104,395.88 in 2021, while total operating costs increased to RMB 1,260,125,550.73 from RMB 1,232,931,110.46 [8][9]. - **Consolidated Cash Flow Statement**: The net cash flow from operating activities was RMB 10,035,236.33, compared to a negative cash flow of RMB -106,388,842.98 in the previous year [10]. Management Responsibilities - The management is responsible for preparing financial statements that fairly reflect the company's financial position and for maintaining effective internal controls to prevent material misstatements [3][4]. 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 [4][5].

Audit Opinion - The audit report concludes that the financial statements of Sichuan Yindile Material Technology Group Co., Ltd. fairly present the financial position and operating results for the periods ending December 31, 2023, December 31, 2024, and May 31, 2025, in accordance with accounting standards [1][2]. Key Audit Matters - Revenue recognition is identified as a key audit matter due to the inherent risk of management manipulating revenue recognition to meet specific targets. The audit procedures included testing internal controls, examining sales contracts, and confirming balances with major customers [1][2][3]. Financial Performance - For the period of January to May 2025, the company reported total operating revenue of approximately 317.27 million yuan, an increase from 503.47 million yuan in 2023 and 637.55 million yuan in 2024 [7][8]. - The net profit for the same period in 2025 was approximately 130.46 million yuan, compared to 181.16 million yuan in 2023 and 203.68 million yuan in 2024 [7][8]. Financial Position - As of May 31, 2025, the total assets of the company amounted to approximately 1.37 billion yuan, an increase from 1.29 billion yuan in 2024 and 1.00 billion yuan in 2023 [5][6]. - The total liabilities were approximately 254.30 million yuan as of May 31, 2025, compared to 303.82 million yuan in 2024 and 223.60 million yuan in 2023 [5][6]. Cash Flow Analysis - The net cash flow from operating activities for the period of January to May 2025 was negative 4.55 million yuan, contrasting with positive cash flows of 69.15 million yuan in 2023 and 133.91 million yuan in 2024 [9]. - The cash and cash equivalents at the end of May 2025 were approximately 292.21 million yuan, down from 306.87 million yuan at the end of 2024 [9].

Company Overview - Shanghai Xinxing Crystal Investment Semiconductor Technology Co., Ltd. was established in April 2022 with a registered capital of RMB 2.99 billion, which was later reduced to RMB 2.91 billion after a capital reduction [1][2]. - The main investors include Shanghai Xinxing Semiconductor Technology Co., Ltd. (51.84%), Haifu Semiconductor Venture Capital (Jiaxing) Partnership (42.81%), and others [1][2]. Financial Reporting - 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 December 31, 2023, and December 31, 2024 [1][2]. - The company adopts a continuous operation basis for its financial reporting [1]. Accounting Policies - The company uses the Chinese Yuan (RMB) as its functional currency and recognizes cash and cash equivalents based on liquidity and risk of value change [1][2]. - Financial instruments are classified at initial recognition into categories such as amortized cost, fair value through other comprehensive income, and fair value through profit or loss [2][3]. Financial Performance - As of December 31, 2024, the company reported total cash and cash equivalents of approximately RMB 1.17 billion, a decrease from RMB 2.93 billion in 2023 [14]. - Accounts receivable increased from RMB 257.37 million in 2023 to RMB 469.23 million in 2024, indicating a significant growth in sales or credit terms [14]. Inventory and Assets - Inventory is classified into raw materials, work in progress, and finished goods, measured at the lower of cost and net realizable value [8]. - Long-term equity investments are accounted for using the cost method, and any dividends received are recognized as investment income [8]. Revenue Recognition - Revenue is recognized when control of goods or services is transferred to customers, which occurs at the point of delivery [11][12]. - The company also recognizes government grants as deferred income, which is amortized over the useful life of the related assets [13]. Taxation - The company is subject to various taxes, including a corporate income tax rate of 25% and value-added tax rates of 6%, 9%, and 13% depending on the nature of the goods or services [10].

Audit Opinion - The audit report states that the financial statements of Kuaiji Elevator Co., Ltd. fairly reflect the company's financial position as of December 31, 2024, and its operational results for the year 2024 in accordance with accounting standards [1]. Key Audit Matters Inventory Valuation - As of December 31, 2024, the company's inventory balance was CNY 265.48 million, with a provision for inventory impairment of CNY 5.25 million, resulting in a net inventory value of CNY 260.22 million. The accuracy of inventory valuation is critical to the financial statements [1]. - The audit procedures included evaluating internal controls related to inventory, testing cost allocation, and verifying the valuation methods used for inventory [1]. Revenue Recognition - The company reported operating revenue of CNY 1.58 billion for 2024, a decrease of 4.93% compared to the previous year. The revenue recognition process is identified as a key audit matter due to the inherent risk of management manipulating revenue recognition to meet targets [2][4]. - The audit involved testing internal controls over sales and collections, reviewing sales contracts, and performing substantive analytical procedures to ensure the accuracy of revenue recognition [4]. Company Overview - Kuaiji Elevator Co., Ltd. is based in Dongguan, Guangdong Province, and specializes in the production, installation, maintenance, and renovation of elevators. The company was established in 1998 and transitioned to a joint-stock company in 2012, with its shares listed on the Shenzhen Stock Exchange in 2017 [9][10]. Financial Reporting Basis - The financial statements are prepared on a going concern basis, following the accounting standards set by the Ministry of Finance. The company has no doubts regarding its ability to continue as a going concern for the next 12 months [9][10]. Key Accounting Policies - The company follows the enterprise accounting standards, ensuring that the financial statements provide a true and complete reflection of its financial position as of December 31, 2024 [9][10]. - The company uses the weighted average method for inventory cost determination and recognizes inventory at the lower of cost or net realizable value [23]. Revenue and Cost Management - The company employs a direct sales and distribution model for its elevator products, which are customized for specific clients. This model influences the timing of revenue recognition [2][4]. - The company has implemented internal controls to manage sales pricing and customer credit assessments, ensuring the appropriateness of revenue recognition policies [4].