中華人民共和國，深圳 2026年3月30日 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確 性或完整性亦不發表任何聲明，並明確表示概不就因本公告全部或任何部分內容而產生或因 倚賴該等內容而引致的任何損失承擔任何責任。 MeiG Smart Technology Co., Ltd. 美格智能技術股份有限公司 （於中華人民共和國註冊成立的股份有限公司） （股份代號：3268） 海外監管公告 本公告乃根據香港聯合交易所有限公司證券上市規則第13.10B條而作出。 茲載列美格智能技術股份有限公司（「本公司」）在深圳證券交易所網站發佈的《美 格智能技術股份有限公司2025年度審計報告》，僅供參閱。 承董事會命 美格智能技術股份有限公司 董事長 王平 截至本公告日期，本公司執行董事為王平先生、杜國彬先生、夏有慶先生及黃敏先生；及本 公司獨立非執行董事馬利軍博士、楊政先生及劉佳女士。 美格智能技术股份有限公司 2025年度审计报告 审 计 报 告 | | | | 一、审计报告………………………………………………………… 第1—6页 | | --- | | 二、财务报表…………………………… ...

香 港 交 易 及 結 算 所 有 限 公 司 及 香 港 聯 合 交 易 所 有 限 公 司 對 本 公 告 的 內 容 概 不 負 責 ， 對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明 ， 並 明 確 表示，概不 對 因 本 公 告 全 部 或 任 何 部 分 內 容 而 產 生 或 因 倚 賴 該 等 內 容 而 引 致 的 任 何 損 失 承 擔 任 何 責 任。 海外監管公告 重 慶 鋼 鐵 股 份 有 限 公 司 匡 雲 龍 董 事 會 秘 書 中國重慶，2026 年 3 月 30 日 於 本 公 告 日 期 ， 本 公 司 的 董 事 為 ： 王 虎 祥 先 生 （ 執 行 董 事 ） 、 匡 雲 龍 先 生 （ 執 行 董 事 ） 、 陳 應 明 先 生 （ 執 行 董 事 ） 、 宋 德 安 先 生 （ 非 執 行 董 事 ） 、 林 長 春 先 生 （ 非 執 行 董 事 ） 、 周 平 先 生 （ 非 執 行 董 事 ） 、 盛 學 軍 先 生 （ 獨 立 非 執 行 董 事 ） 、 唐 萍 女 士 （ 獨 立 非 執 行 董 事 ） 及 郭 傑 斌 先 生 （ 獨 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示概不就因本公告全部或任何部分內容所產生或因依賴 該等內容而引致的任何損失承擔任何責任。 Jiangsu Hengrui Pharmaceuticals Co., Ltd. 江蘇恒瑞醫藥股份有限公司 （於中華人民共和國註冊成立的股份有限公司） （股份代號：1276） 海外監管公告 本公告乃根據香港聯合交易所有限公司證券上市規則第13.10B條刊發。 根據中華人民共和國的有關法例規定，江蘇恒瑞醫藥股份有限公司（「本公司」）在 上海證券交易所網站( www.sse.com.cn )刊發了以下公告。茲載列如下，僅供參閱。 承董事會命 江蘇恒瑞醫藥股份有限公司 董事長 孫飄揚先生 中國上海 2026年3月25日 於本公告日期，董事會成員包括(i)執行董事孫飄揚先生、戴洪斌先生、馮佶女 士、張連山先生、江寧軍先生及孫杰平先生；(ii)非執行董事郭叢照女士；及(iii) 獨立非執行董事董家鴻先生、曾慶生先生、孫金雲先生及周紀恩先生。 江苏恒瑞医药股份有限公司 已审财务报表 2025年度 江苏恒瑞医药股份有 ...

RSM 容诚 审计报告 宇树科技股份有限公司 容诚审字|2026|230Z1201 号 此码用于证明该审计报告是否由具有执业许可的会计师事务所出身 "注册会计师行业统一监管平台（http://acc.mof.gov.cn）"进行直续 1 您可使用手机"扫一扫"或进入 目 录 | 序号 | 内 容 | 页码 | | --- | --- | --- | | 1 | 审计报告 | 1-6 | | 2 | 合并资产负债表 | 1-2 | | 3 | 合并利润表 | 3 | | 4 | 合并现金流量表 | 4 | | 5 | 合并所有者权益变动表 | ર-8 | | 6 | 母公司资产负债表 | 9-10 | | 7 | 母公司利润表 | 11 | | 8 | 母公司现金流量表 | 12 | | 9 | 母公司所有者权益变动表 | 13-16 | | 10 | 财务报表附注 | 17-207 | 容诚会计师事务所(特殊普通合伙) 中国 · 北京 审计报告 容诚审字[2026]230Z1201 号 字树科技股份有限公司全体股东: 一、审计意见 我们审计了字树科技股份有限公司(以下简称宇树科技)财务报表,包括 2025 年 ...

Group 1 - The company advanced Shuntong stated that the payments received from clients mainly consist of overdue delivery payments and initial inspection payments, and the related contracts have not yet met the revenue recognition criteria [2] - The company's previous periodic reports, including the 2024 annual report, did not include any provisions for these contracts, thus there is no reversal situation [2] - The contracts will be recognized in the corresponding reporting period once the revenue recognition criteria are met, and it is expected that this will not have a significant impact on the company's profits for the year 2025 [2]

Core Viewpoint - The company expects a net loss attributable to shareholders of between 140 million to 200 million yuan for the fiscal year 2025, an improvement from a loss of 401 million yuan in the same period last year [1] Financial Performance - The projected net profit after deducting non-recurring gains and losses for 2025 is expected to be a loss of 170 million to 230 million yuan, compared to a loss of 399 million yuan in the previous year [1] Industry Outlook - The overall recovery is anticipated in the new energy lithium battery and traditional energy petrochemical sectors in 2025 [1] Operational Challenges - The company faces a lengthy cycle for order execution and revenue recognition due to the need for installation, debugging, trial production, and completion acceptance of production lines to meet contractual technical standards [1]

Core Viewpoint - Bank of America Securities initiates a "Buy" rating for Dongfang Electric with a target price of HKD 33, corresponding to a projected P/E ratio of 26 times for 2026 [1] Group 1: Revenue Drivers - Strong revenue recognition is expected from thermal and nuclear power equipment orders secured between 2021 and 2025 [1] - The Yarlung Tsangpo project, a dam project with capital expenditure of CNY 1.2 trillion, is anticipated to contribute to long-term profitability [1] - There is potential for expansion in gas turbine exports [1] - The power station service business, including operation and maintenance as well as flexibility upgrades, is expected to achieve continuous growth [1] Group 2: Profitability Forecast - Bank of America forecasts a compound annual growth rate (CAGR) of 13% for Dongfang Electric's net profit from 2025 to 2027, benefiting from an increase in China's power capital expenditure cycle [1] - The company holds approximately 40% market share in the nuclear and hydropower equipment market and over 30% in the thermal power equipment market, making it a key beneficiary of large-scale thermal and nuclear investments in China from 2021 to 2025 [1] - The recognition of equipment orders will drive steady growth in net profit as average selling prices recover [1]

Core Viewpoint - Changhong High-Tech (605008.SH) has received administrative regulatory measures from the Ningbo Regulatory Bureau of the China Securities Regulatory Commission due to internal control deficiencies and inappropriate revenue recognition practices [1][2]. Group 1: Internal Control Issues - The company has inadequate internal controls, including poor execution of sales management and construction project management, as well as deficiencies in the management of raised funds [1] - Issues include sales shipment dates occurring before the signing of sales contracts and failure to follow internal approval procedures for major engineering contracts [1] Group 2: Revenue Recognition Problems - The company has improperly recognized revenue, with some income recognition documents being non-compliant and premature recognition of part of the operating income for the first half of 2024 [2] - Key executives, including the chairman and the financial director, are held primarily responsible for these violations [2] Group 3: Fundraising Activities - Changhong High-Tech was listed on the Shanghai Stock Exchange on August 21, 2020, raising a total of 484.84 million yuan, with a net amount of 445.47 million yuan for projects including a 20,000 tons/year SEPS technology upgrade project [3] - In 2022, the company raised an additional 50 million yuan through a private placement, with a net amount of approximately 41.74 million yuan after expenses [4] - The total amount raised by the company since its listing is approximately 534.84 million yuan [5] Group 4: Financial Performance - From 2020 to 2024, the net profit attributable to shareholders has shown a declining trend, with figures of 302 million yuan, 185 million yuan, 180 million yuan, 95.01 million yuan, and 94.22 million yuan respectively [5]

Core Viewpoint - The inquiry response from Suzhou Lianxun Instrument Co., Ltd. reveals significant doubts regarding its technological independence, customer dependency, revenue authenticity, financial health, and information disclosure transparency as it approaches its listing on the Sci-Tech Innovation Board [2][15]. Group 1: Technological Independence - The company claims to possess core chips and self-developed algorithms, but a detailed examination shows a heavy reliance on outsourced components for its electronic measurement instruments and semiconductor testing equipment [3][4]. - The company admits that the development of specialized chips is costly and limited in market scope, leading to a reliance on third-party design and manufacturing services, raising questions about its technological barriers [5][17]. - The outsourcing of core chip development may undermine the company's competitive edge in a rapidly evolving market [18]. Group 2: Customer Dependency - The customer structure is heavily concentrated, with the top 10% of clients contributing approximately 75% of the company's revenue, indicating a high risk of revenue volatility if major clients alter their purchasing plans [5][6]. - The sales proportion to a key client has increased dramatically from 2.20% in 2022 to 12.53% in the first nine months of 2025, suggesting a deep dependency on a single customer [6][19]. - Despite efforts to diversify the customer base, the reliance on this major client remains significant, with projections indicating continued dependency [19]. Group 3: Revenue Recognition - The company exhibits a seasonal revenue pattern, with third and fourth quarters consistently outperforming the first and second quarters, raising concerns about potential revenue recognition manipulation [20]. - The explanation for this seasonal trend, attributed to client budget management, is met with skepticism, especially given the significant fluctuations in acceptance cycles across different years [20]. Group 4: Financial Health - The company faces increasing overdue accounts receivable, with amounts rising from approximately 27.22% to nearly 40% of total receivables by early 2025, indicating potential cash flow issues [21][22]. - Legal actions have been initiated against clients for unpaid debts, highlighting weaknesses in credit management and the collection of receivables [22]. Group 5: Information Disclosure - The company emphasizes its technological advancements but selectively omits competitive benchmarks, which may mislead investors regarding its market position [11][23]. - The lack of comprehensive comparisons with domestic competitors raises concerns about the transparency and objectivity of the company's claims regarding its technological capabilities [23].

Core Viewpoint The article discusses the key focus areas for the implementation of accounting standards in the 2025 annual report, emphasizing the importance of adhering to specific guidelines set forth by regulatory bodies to ensure accurate financial reporting. Group 1: Key Focus Areas for Accounting Standards - The 2025 annual report will particularly emphasize the judgment of business combinations, especially when the acquired entity's main assets are equity interests in joint ventures, which should not be directly recognized as a business solely based on the nature of the joint venture [2] - Companies must consider credit risk, payment delay risk, and interest rate risk when determining whether to derecognize endorsed or discounted bills [2] - Financial instruments with interest rate step-up clauses must be assessed against market rates to determine if the capped rate exceeds the average rate of similar instruments in the industry [2] Group 2: Long-term Equity Investments - Companies should comprehensively assess all relevant facts when determining significant influence over investees, avoiding arbitrary changes based solely on individual actions like appointing directors [4][5] - The judgment of significant influence should not vary across accounting periods without substantial changes in ownership structure or decision-making power [6] Group 3: Fixed Assets - Fixed assets must be recognized and depreciated promptly once they are ready for use, regardless of whether completion reports have been finalized [7][9] - The cost of fixed assets includes all necessary expenditures to bring the asset to a usable state, and depreciation should be based on reasonable estimates of useful life and residual value [8] Group 4: Intangible Assets - Companies must accurately categorize R&D expenditures and distinguish between research and development phases, ensuring that only qualifying development costs are capitalized [10][11] - Expenditures that do not meet the criteria for capitalization should not be included in R&D costs, particularly if they do not pass feasibility verification [14][15] Group 5: Data Resources - Companies must adhere to the definitions and recognition criteria for data resources as outlined in the relevant accounting standards, ensuring that only qualifying data resources are recognized as assets [16][24] - Internal data resource expenditures must be managed and accounted for separately, and previously expensed data resources cannot be re-capitalized [17][20] Group 6: Asset Impairment - Companies are required to assess impairment for various long-term assets, including fixed assets and goodwill, based on reliable internal and external information [25][26] - Goodwill must undergo annual impairment testing regardless of whether there are indications of impairment, and the recoverable amount should be determined based on the higher of fair value less costs to sell and value in use [27][28]