Xinxiang Chemical Fiber Co., Ltd.
Audit Report and Financial Statements
Fiscal Year 2025
[Chart: BDO China Shu Lun Pan Logo]
(January 01, 2025 to December 31, 2025)
Table of Contents
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Audit Report: 1-6
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Financial Statements:
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Consolidated Balance Sheet and Parent Company Balance Sheet: 1-4
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Consolidated Income Statement and Parent Company Income Statement: 5-6
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Consolidated Cash Flow Statement and Parent Company Cash Flow Statement: 7-8
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Consolidated Statement of Changes in Equity and Parent Company Statement of Changes in Equity: 9-12
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Notes to Financial Statements: 1-115
Audit Report
Xinxiang Audit Report [2026] No. ZB21864
To the Shareholders of Xinxiang Chemical Fiber Co., Ltd.:
I. Audit Opinion
We have audited the financial statements of Xinxiang Chemical Fiber Co., Ltd. (hereinafter referred to as "Xinxiang Chemical Fiber"), which comprise the consolidated and parent company balance sheets as of December 31, 2025, the consolidated and parent company income statements, the consolidated and parent company cash flow statements, and the consolidated and parent company statements of changes in equity for the year 2025, as well as the notes to the financial statements.
In our opinion, the accompanying financial statements have been prepared in all material respects in accordance with the Accounting Standards for Business Enterprises and fairly reflect the consolidated and parent company financial position of Xinxiang Chemical Fiber as of December 31, 2025, and the consolidated and parent company operating results and cash flows for the year 2025.
II. Basis for Audit Opinion
We conducted our audit in accordance with the Auditing Standards for Certified Public Accountants of China. Our responsibilities under these standards are further described in the "Certified Public Accountant's Responsibilities for the Audit of the Financial Statements" section of this report. In accordance with the Code of Ethics for Certified Public Accountants of China and the "Independence Requirements for Financial Statement Audit and Review Engagements" (Independence Standard No. 1), we are independent of Xinxiang Chemical Fiber and have fulfilled our other ethical responsibilities. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.
III. Key Audit Matters
Key audit matters are those matters that, in our professional judgment, were of most significance in our audit of the financial statements of the current period. These matters were addressed in the context of our audit of the financial statements as a whole, and in forming our opinion thereon, we do not provide a separate opinion on these matters.
We have summarized the key audit matters identified in our audit as follows: