Tianhai Automotive Electronics Group Co., Ltd. 2025, 2024, 2023 Audit Report
Index Audit Report: 1-5 Financial Statements:
- Consolidated Balance Sheet: 1-2
- Parent Company Balance Sheet: 3-4
- Consolidated Income Statement: 5
- Parent Company Income Statement: 6
- Consolidated Cash Flow Statement: 7
- Parent Company Cash Flow Statement: 8
- Consolidated Statement of Changes in Shareholders' Equity: 9-11
- Parent Company Statement of Changes in Shareholders' Equity: 12-14
- Notes to Financial Statements: 15-186
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Audit Report XYZH/2026GZAA3B0026
To the Shareholders of Tianhai Automotive Electronics Group Co., Ltd.:
I. Audit Opinion
We have audited the financial statements of Tianhai Automotive Electronics Group Co., Ltd. (hereinafter referred to as "Tianhai Electronics"), which comprise the consolidated and parent company balance sheets as of December 31, 2025, 2024, and 2023, 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 shareholders' equity for the years 2025, 2024, and 2023, as well as the related 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 present the consolidated and parent company financial position of Tianhai Electronics as of December 31, 2025, 2024, and 2023, and the consolidated and parent company operating results and cash flows for the years 2025, 2024, and 2023.
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 "Responsibilities of Certified Public Accountants for the Audit of Financial Statements" section of this report. We are independent of Tianhai Electronics in accordance with the Code of Ethics for Certified Public Accountants of China 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.
- Revenue Recognition