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 - Liaoning Shuguang Automobile Group Co., Ltd. was established on March 2, 1993, and is listed on the Shanghai Stock Exchange with the stock code 600303 [1] - The company has a total issued share capital of 683.604211 million shares as of December 31, 2024 [1] - The controlling shareholder is Beijing Weizi West Consulting Management Center (Limited Partnership), with actual controllers being Quan Wei and Liang Zi [1] Business Activities - The company operates in the automotive manufacturing industry, focusing on the research and development, manufacturing, wholesale, and retail of automotive parts and components [1] - Main products and services include passenger cars, buses, pickups, special vehicles, and automotive retail business [1] Financial Reporting - The financial statements have been prepared in accordance with the accounting standards issued by the Ministry of Finance and relevant regulations [1] - The financial statements were approved by the board of directors on April 10, 2025, and will be submitted for shareholder review [1] Consolidation Scope - The company has included 28 subsidiaries in its consolidated financial statements for the current period, an increase of 4 compared to the previous period [1] Accounting Policies - The company adheres to the accrual basis of accounting and uses historical cost as the measurement basis, except for certain financial instruments measured at fair value [1][2] - The company evaluates its ability to continue as a going concern and has not identified any significant doubts regarding its ongoing viability [1] Financial Instruments - Financial assets and liabilities are recognized when the company becomes a party to the financial instrument contract [18] - 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 [17][18] Joint Arrangements - The company classifies joint arrangements into joint operations and joint ventures based on the structure and contractual terms [12] - In joint operations, the company recognizes its share of assets, liabilities, income, and expenses [12]

Group 1 - The audit report provides a fair representation of the financial performance of Yichang Newfa Industrial Investment Co., Ltd. for the transitional period from August 1, 2024, to May 31, 2025 [1][2] - The management is responsible for preparing the consolidated profit and loss statement in accordance with the specified basis of preparation, ensuring it reflects a true and fair view [2][3] - The audit was conducted in accordance with Chinese CPA auditing standards, aiming to obtain reasonable assurance that the financial statements are free from material misstatement due to fraud or error [2][4] Group 2 - Yichang Newfa Industrial Investment Co., Ltd. was established on February 12, 2018, with a registered capital of 1.5 billion RMB, focusing on investment in emerging industries, petrochemicals, new energy, and environmental protection [5][6] - The company operates under a continuous operating assumption for the preparation of its consolidated profit and loss statement, covering the period from August 1, 2024, to May 31, 2025 [7][8] - The financial statements are prepared based on the relevant accounting standards and do not include comparative data for the transitional period [8][9] Group 3 - The company’s accounting policies include the recognition of financial instruments, with specific classifications for financial assets and liabilities based on their characteristics and management intentions [18][19] - The company assesses expected credit losses for financial instruments based on historical data, current conditions, and forecasts of future economic conditions [30][31] - Inventory is measured at the lower of cost and net realizable value, with specific methods for valuation and recognition of impairment losses [32][33]