Company Overview - Guangdong Provincial Institute of Architectural Science Group Co., Ltd. was established on December 25, 2013, with a registered capital of RMB 16.376 million [1] - The company underwent a shareholding reform and was officially registered as a joint-stock company on December 16, 2014, with a new registered capital of RMB 23 million [1] - As of March 31, 2025, the registered capital is RMB 31.39 million, with a total share capital of 31.39 million shares [1] Shareholding Structure - The major shareholder is Guangdong Provincial Construction Engineering Group Holdings Co., Ltd., holding 73.62% of the shares [1] - Other significant shareholders include Guangdong State-owned Enterprise Restructuring Development Fund (10%) and Guangdong Yueke Financial Group Co., Ltd. (5%) [1] Business Scope - The company operates in the research and experimental development industry, providing technical services, consulting, and transfer related to construction and civil engineering [1] - Additional services include engineering quality testing, product quality inspection, software development, and energy application optimization [1] Financial Reporting Basis - 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 March 31, 2025 [2] - The accounting period is from January 1 to December 31 each year, with the reporting currency being RMB [2] Accounting Policies - The company adopts specific accounting policies and estimates based on its operational characteristics, including revenue recognition and asset impairment [3][4] - The company uses the equity method for accounting for investments in joint ventures and associates [23][25] Financial Instruments - Financial assets are classified at initial recognition as either measured at amortized cost, at fair value through other comprehensive income, or at fair value through profit or loss [9][12] - The company assesses expected credit losses for financial instruments based on historical data and future economic conditions [18][19] Inventory Management - Inventory is classified into raw materials, finished goods, and work in progress, measured at cost or net realizable value, whichever is lower [21] - The company uses the first-in, first-out method for inventory valuation [21] Contract Assets and Liabilities - Contract assets are recognized when the company has the right to receive payment for goods or services transferred to customers, contingent on factors other than the passage of time [22] - The company assesses expected credit losses for contract assets similarly to other financial instruments [22] Non-current Assets Held for Sale - Non-current assets are classified as held for sale when they are expected to be sold rather than used, and their carrying amount is adjusted to fair value less costs to sell [22]