Core Viewpoint - The financial statements of REIAL CLUB DEPORTIU ESPANYOL DE BARCELONA, S.A.D. have been audited and are deemed to fairly reflect the financial position and operating results for the periods ending December 31, 2024, and May 31, 2025, in accordance with accounting standards [2][3]. Financial Statements Summary Audit Opinion - The audit confirms that the financial statements are prepared in accordance with accounting standards and provide a true and fair view of the financial status and results of operations [2][3]. Management and Governance Responsibilities - The management is responsible for preparing the financial statements in accordance with accounting standards and ensuring the effectiveness of internal controls to prevent material misstatements due to fraud or error [2][3][4]. Auditor's 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, and to issue an audit report that includes the audit opinion [3][4]. Financial Position - As of May 31, 2025, the total assets amounted to approximately 1,432.93 billion RMB, compared to 1,367.19 billion RMB as of December 31, 2024, indicating an increase [6]. - Total liabilities as of May 31, 2025, were approximately 1,032.09 billion RMB, up from 961.46 billion RMB at the end of 2024 [6]. Income Statement - For the period from January to May 2025, total operating revenue was approximately 256.51 million RMB, while total operating costs were about 298.30 million RMB, resulting in an operating loss of approximately 34.85 million RMB [7]. - The net loss for the same period was approximately 37.32 million RMB, compared to a net loss of 260.53 million RMB for the entire year of 2024 [7]. Cash Flow Statement - The net cash flow from operating activities for the first five months of 2025 was approximately 32.09 million RMB, compared to 22.43 million RMB for the same period in 2024 [7]. - The cash and cash equivalents at the end of May 2025 were approximately 24.56 million RMB, an increase from 16.11 million RMB at the end of 2024 [7].