Audit Opinion - The audit report states that the financial statements of Hefei Zhongke Junda Vision Technology Co., Ltd. fairly reflect the financial position as of December 31, 2023, and December 31, 2024, as well as the operating results and cash flows for the years 2023 and 2024 [2][3]. Key Audit Matters - Revenue recognition is identified as a key audit matter, with operating revenues for 2023 and 2024 reported at RMB 190.9851 million and RMB 221.6244 million, respectively. The revenue from high-speed cameras and visual measurement systems accounted for 86.62% and 94.85% of total revenue in those years [3][5]. - Accounts receivable and contract assets impairment is another key audit matter, with accounts receivable balances of RMB 42.4672 million and RMB 73.7797 million for the years ending December 31, 2023, and December 31, 2024, respectively. The impairment provisions for these amounts were RMB 2.9012 million and RMB 5.2672 million [5][6]. Company Overview - Hefei Zhongke Junda Vision Technology Co., Ltd. was established as a joint-stock company with a registered capital of RMB 54.866072 million. The company specializes in the research, development, production, and sales of high-speed imaging, analysis, and processing instruments and systems [11][12]. Financial Reporting Basis - The financial statements are prepared on a going concern basis, with no significant doubts regarding the company's ability to continue operations within the next 12 months [12][13]. Important Accounting Policies - The company adheres to the enterprise accounting standards, ensuring that the financial statements provide a true and complete reflection of its financial condition, operating results, and cash flows [12][13]. - The company employs specific accounting policies for financial instruments, inventory, fixed assets depreciation, and revenue recognition, tailored to its operational characteristics [12][13]. Financial Performance - The company reported significant revenue growth, with operating revenues increasing from RMB 190.9851 million in 2023 to RMB 221.6244 million in 2024, indicating a strong market demand for its products [3][5].

Company Overview - Anhui Fuhuang Steel Structure Co., Ltd. was established on December 16, 2004, and is headquartered in Chao Lake City, Anhui Province. The company primarily operates in the metal products industry, focusing on the production and sales of steel structure products and providing related engineering services [2][3]. Major Asset Restructuring Plan - The company plans to acquire 100% equity of Hefei Zhongke Junda Vision Technology Co., Ltd. through a combination of issuing shares and cash payments. The total transaction price is set at 1.14 billion yuan, with 798 million yuan (70%) paid in shares and 342 million yuan (30%) in cash. The share issuance will not exceed 30% of the total share capital post-transaction [3][4]. - The share issuance price is determined to be 4.30 yuan per share, which is not lower than 80% of the average trading price over the previous 120 trading days [3][4]. Financial Reporting Basis - The pro forma consolidated financial statements are prepared in accordance with the relevant regulations of the China Securities Regulatory Commission regarding major asset restructuring. The financial statements reflect the company's financial position as if the restructuring had been completed on January 1, 2024 [5][6]. - The purchase cost for the restructuring is recorded as 1.14 billion yuan, with adjustments made to the equity attributable to the parent company based on the share issuance and cash payment [5][6]. Accounting Policies and Estimates - The company adopts specific accounting policies for financial instruments, inventory, fixed assets depreciation, intangible assets, and revenue recognition based on its operational characteristics [7][8]. - The accounting period for the financial statements is from January 1 to December 31, 2024, with the reporting currency being Renminbi [7][8]. Financial Instruments and Risk Management - Financial assets are classified into three categories upon initial recognition: 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 [11][12]. - The company assesses expected credit losses for financial assets and recognizes loss provisions based on historical credit loss experience and forward-looking information [19][20].