Core Viewpoint - Zhongtong Guomai Communication Co., Ltd. has applied to the Shanghai Stock Exchange to revoke the delisting risk warning and other risk warnings, as the conditions triggering these warnings have been eliminated [1][2]. Financial Reporting and Audit - The company received an audit report for the 2023 annual report that was unable to express an opinion due to limitations in the confirmation procedures for accounts receivable, inventory, and revenue [1][2]. - The 2024 annual report is expected to receive a standard unqualified audit opinion, as the issues affecting the 2023 report have been resolved [1][2]. - The company has established a special collection team to expedite the recovery of accounts receivable and has achieved a response rate of 80%-90% for major items [1][2]. Audit Procedures - The audit procedures for accounts receivable included verifying the validity and accuracy of contracts, invoices, and related documents, as well as assessing the adequacy of bad debt provisions [2][3]. - For inventory, the audit involved physical verification and assessment of net realizable value to ensure proper impairment provisions [2][3]. - Revenue recognition was audited by verifying contracts, invoices, and related documents, and ensuring compliance with accounting standards [3][4]. Specific Audit Findings - For the 2023 fiscal year, the reported amounts for accounts receivable, revenue, and inventory were as follows: - Accounts Receivable: CNY 602.82 million, with a confirmation response rate of 77.71% [4]. - Revenue: CNY 306.18 million, with a confirmation response rate of 82.43% [4]. - Inventory: CNY 378.90 million, with a confirmation response rate of 70.72% [4]. - The 2024 fiscal year showed an increase in reported amounts: - Accounts Receivable: CNY 793.81 million, with a confirmation response rate of 80.04% [6]. - Revenue: CNY 355.43 million, with a confirmation response rate of 81.65% [6]. - Inventory: CNY 242.22 million, with a confirmation response rate of 74.27% [6]. Adjustments and Corrections - The company has made retrospective adjustments to financial statements for the years 2015-2023 due to errors in revenue and cost recognition, impacting net profit and other financial metrics [15][17]. - Specific adjustments included a reduction in revenue of CNY 2.40 million and a reduction in net profit of CNY 6.14 million due to unrecognized income from certain projects [15][17]. - The company has also recognized impairment losses on inventory amounting to CNY 24.93 million, reflecting a more cautious approach to inventory valuation [18].

Core Viewpoint - Zhongtong Guomai Communication Co., Ltd. has successfully completed its bankruptcy reorganization in 2024, which has improved the efficiency of confirmation procedures for major financial items, leading to a significant increase in the response rate for confirmations of accounts receivable, inventory, and revenue [1][4]. Financial Performance - The company reported accounts receivable of approximately 602.82 million yuan, revenue of about 306.18 million yuan, and inventory of around 378.90 million yuan for the previous year [3]. - For 2024, the reported figures increased to approximately 793.81 million yuan in accounts receivable, 355.43 million yuan in revenue, and 242.22 million yuan in inventory [5]. Confirmation Procedures - In 2023, the confirmation amounts for accounts receivable were approximately 503.69 million yuan, with a response rate of 83.56%, while the response rate for revenue confirmations was 88.72% [3]. - In 2024, the confirmation amounts increased to about 688.02 million yuan for accounts receivable, with a response rate of 86.67%, and 92.09% for revenue confirmations [5]. Audit Procedures - The audit procedures included detailed testing of accounts receivable, inventory, and revenue, with significant portions of the amounts confirmed through contracts, invoices, and acceptance documents [1][5]. - The audit team spent approximately four months on-site, involving over 20 personnel [1]. Adjustments and Corrections - The company made retrospective adjustments to its financial statements for the years 2017 to 2023, correcting errors related to accounts receivable, inventory, accounts payable, revenue, and net profit [1][4]. - Specific measures were taken to improve the collection of overdue accounts, including the establishment of a special collection team and regular reconciliation with clients [12][13].