Securities Code: 002348 Securities Abbreviation: Gaole Shares Announcement No.: 2026-048
Guangdong Gaole Co., Ltd. Announcement on Change of Accounting Policies
The Company and the entire Board of Directors guarantee the truthfulness, accuracy, and completeness of the contents of this announcement, and that there are no false records, misleading statements, or significant omissions.
Guangdong Gaole Co., Ltd. (hereinafter referred to as the "Company") held its Second Meeting of the Ninth Board of Directors on April 27, 2026. The meeting deliberated and approved the "Proposal on Change of Accounting Policies." In accordance with the "Shenzhen Stock Exchange Listed Company Self-Regulatory Management Guide No. 1 – Norms for Operation of Main Board Listed Companies" and the "Articles of Association," among other relevant regulations, the Company's change of accounting policies will be implemented after approval by the Board of Directors and does not require submission to the Company's shareholders' meeting for approval. The specific situation is as follows:
I. Overview of the Change in Accounting Policies
On December 5, 2025, the Ministry of Finance issued "Accounting Standards Interpretation No. 19" (Cai Kuai [2025] No. 32), hereinafter referred to as "Interpretation No. 19." This interpretation includes provisions on "Accounting Treatment of Compensatory Assets in Business Combinations Not Under Common Control," "Accounting Treatment of Related Capital Reserves When Disposing of Subsidiaries Acquired Through Business Combinations Under Common Control," "Derecognition of Financial Liabilities Settled Through Electronic Payment Systems," "Assessment of Contractual Cash Flow Characteristics of Financial Assets and Related Disclosures," and "Disclosure of Equity Instruments Designated at Fair Value Through Other Comprehensive Income." These provisions will take effect from January 1, 2026. The implementation of these provisions has not had a significant impact on the Company's financial position and operating results.