Audit Opinion - The audit report states that the simulated financial statements of Shanghai Pidong Cultural Media Co., Ltd. fairly reflect the company's financial position as of March 31, 2025, December 31, 2024, and December 31, 2023, as well as the operational results and cash flows for the periods ending March 31, 2025, and for the years 2024 and 2023 [1]. Financial Statements Overview - The simulated consolidated balance sheet shows total assets of approximately RMB 91.83 billion as of March 31, 2025, compared to RMB 91.89 billion on December 31, 2024, and RMB 35.03 billion on December 31, 2023 [3][4]. - The total liabilities amount to approximately RMB 68.37 billion as of March 31, 2025, compared to RMB 67.05 billion on December 31, 2024, and RMB 41.58 billion on December 31, 2023 [5]. - The total equity attributable to the parent company is approximately RMB 35.67 billion as of March 31, 2025, an increase from RMB 33.58 billion on December 31, 2024, and RMB 20.58 billion on December 31, 2023 [4]. Profit and Loss Summary - The simulated consolidated income statement indicates that the company generated revenue of approximately RMB 28.14 million for the first quarter of 2025, compared to RMB 127.55 million for the entire year of 2024 and RMB 38.15 million for 2023 [5]. - The net profit for the first quarter of 2025 is approximately RMB 2.02 million, while the net profit for the year 2024 was RMB 13.25 million, and a net loss of approximately RMB 14.69 million was recorded for 2023 [6]. Cash Flow Analysis - The simulated consolidated cash flow statement shows a net cash outflow from operating activities of approximately RMB 3.78 million for the first quarter of 2025, while the net cash inflow for the entire year of 2024 was RMB 36.15 million [7]. - The cash and cash equivalents at the end of the first quarter of 2025 stood at approximately RMB 413,054.69, down from RMB 3.17 million at the end of 2024 [7].