Asymchem Life Science (Shanghai) Co., Ltd.
Audited Financial Statements
2025
Table of Contents
I. Audit Report
II. Audited Financial Statements
Consolidated Balance Sheet
Consolidated Income Statement
Consolidated Statement of Changes in Equity
Consolidated Cash Flow Statement
Company Balance Sheet
Company Income Statement
Company Statement of Changes in Equity
Company Cash Flow Statement
Notes to the Financial Statements
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Audit Report
Ernst & Young Hua Ming (2026) Shen Zi No. 70593659_B01
To the Board of Directors of Asymchem Life Science (Shanghai) Co., Ltd.:
I. Audit Opinion
We have audited the financial statements of Asymchem Life Science (Shanghai) Co., Ltd., which comprise the consolidated and company balance sheets as of December 31, 2025, and the consolidated and company income statements, statements of changes in equity, and cash flow statements for the year 2025, as well as notes to the financial statements.
In our opinion, the accompanying financial statements of Asymchem Life Science (Shanghai) Co., Ltd. have been prepared in all material respects in accordance with the Accounting Standards for Business Enterprises, and fairly present the consolidated and company financial position of Asymchem Life Science (Shanghai) Co., Ltd. as of December 31, 2025, and its consolidated and 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 the audit report. In accordance with the "Code of Ethics for Certified Public Accountants of China No. 1 — Independence Requirements for Financial Statement Audit and Review Engagements" and the Code of Ethics for Certified Public Accountants of China, we are independent of Asymchem Life Science (Shanghai) Co., Ltd. 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. Responsibilities of Management for the Financial Statements
The management of Asymchem Life Science (Shanghai) Co., Ltd. is responsible for preparing the financial statements in accordance with the Accounting Standards for Business Enterprises to achieve fair presentation, and for designing, implementing, and maintaining necessary internal controls to ensure that the financial statements are free from material misstatement due to fraud or error.
In preparing the financial statements, management is responsible for assessing the ability of Asymchem Life Science (Shanghai) Co., Ltd. to continue as a going concern, disclosing matters related to going concern (if applicable), and using the going concern basis of accounting unless management either intends to liquidate the company, cease operations, or has no realistic alternative but to do so.
Audit Report (Continued)
IV. Certified Public Accountant's Responsibilities for the Audit of the Financial Statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an audit report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with auditing standards will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
In the course of performing our audit in accordance with auditing standards, we exercise professional judgment and maintain professional skepticism. We also perform the following work: