Reply to the Review Inquiry Letter Regarding Yibin Tianyuan Group Co., Ltd.'s Application for Specific Object Stock Issuance
Sichuan Huaxin (Group) CPA (LLP)
Address: 18 Ximianqiao Street, Jinmao Lidu, 28th Floor, Chengdu
Phone: (028) 85560449
Fax: (028) 85560449
Postal Code: 610041
Email: schxzhb@hxcpa.com.cn
1. Background
On May 12, 2026, Yibin Tianyuan Group Co., Ltd. (hereinafter referred to as "the Company," "the Issuer," or "Tianyuan Shares") received the Review Inquiry Letter (Inquiry Letter [2026] No. 120029) from your esteemed exchange regarding the application for a specific stock issuance. As the accountants for Tianyuan Shares, we have carefully studied and implemented the financial issues raised in the inquiry letter and are now submitting our responses for your review. Unless otherwise specified, the abbreviations used in this response have the same meanings as those in the "Prospectus for the Specific Object Stock Issuance of Yibin Tianyuan Group Co., Ltd. for the Year 2026" (hereinafter referred to as "the Prospectus").
2. Inquiry and Response
Question 1
During the reporting period, the Company's operating revenues were 18.367 billion yuan, 13.367 billion yuan, and 11.299 billion yuan, respectively; the net profit attributable to the parent company was 39.9647 million yuan, -459.5655 million yuan, and 87.7825 million yuan, respectively; the net profit attributable to the parent company after deducting non-recurring gains and losses was -232.7435 million yuan, -428.7699 million yuan, and -95.9290 million yuan, respectively. At the end of each reporting period, the Company’s accounts receivable were valued at 221.7029 million yuan, 754.4006 million yuan, and 1.0573036 billion yuan, respectively; inventories were valued at 1.0561540 billion yuan, 1.2483053 billion yuan, and 1.4189559 billion yuan, respectively; and the value of construction in progress was 3.2931088 billion yuan, 3.6841184 billion yuan, and 2.4389019 billion yuan, respectively, mainly including the Yi'an Coal Mine Project, the 50kt/year Large-scale Carbon Electrode Project, the Xujia Yuan Coal Mine Project, and the Tiancheng Lithium Battery Annual Production of 100,000 Tons of Lithium Iron Phosphate Cathode Material Project, among others. During the reporting period, the Company’s top five customers and suppliers involved related parties. Additionally, the Company has related transactions with its controlling shareholder Yibin Development and its controlled enterprises, as well as with joint ventures. The Company has situations where it both purchases and sells goods with related parties.