Sichuan Jinshi Technology Co., Ltd. Audit Report 2025 Annual Period
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Gongzheng Tianye Certified Public Accountants, SGP Wuxi, Jiangsu, China Tel: 86 (510) 68798988 Fax: 86 (510) 68567788 E-mail: mail@gztycpa.cn
To the Shareholders of Sichuan Jinshi Technology Co., Ltd.:
I. Audit Opinion
We have audited the financial statements of Sichuan Jinshi Technology Co., Ltd. (hereinafter referred to as "Jinshi Technology"), which include the consolidated and parent company balance sheets as of December 31, 2025, the consolidated and parent company income statements for the year ended December 31, 2025, the consolidated and parent company cash flow statements, the consolidated and parent company statements of changes in owners' equity, and the related financial statement notes.
In our opinion, the accompanying financial statements, in all material respects, have been prepared in accordance with the provisions of the Accounting Standards for Business Enterprises, and fairly present the consolidated and parent company financial position of Jinshi Technology as of December 31, 2025, and the consolidated and parent company results of operations and cash flows for the year ended December 31, 2025.
II. Basis for Audit Opinion
We conducted our audit in accordance with the Standards on Auditing of Certified Public Accountants of China. The section "Responsibilities of the Certified Public Accountant for the Audit of Financial Statements" in our audit report further elaborates on our responsibilities under these standards. In accordance with the Independence Standards for Certified Public Accountants of China and the Code of Professional Ethics for Certified Public Accountants of China, we are independent of Jinshi Technology, have complied with the independence requirements applicable to entities of public interest, and have fulfilled our other professional 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 for the current period. Our response to these matters was in the context of our audit of the financial statements as a whole and in forming our opinion thereon, and we do not provide a separate opinion on these matters. We have determined the following matters to be the key audit matters to be communicated in the audit report.
(I) Revenue Recognition
- Matter Description
Jinshi Technology's sales revenue is mainly derived from the sale of energy storage equipment and energy storage fire protection systems. The operating revenue for 2025 was RMB 43,094.38 million. Revenue is an important performance indicator for Jinshi Technology, and there may be an inherent risk of management making inappropriate revenue recognition to achieve specific targets or expectations. Therefore, we have identified revenue recognition as a key audit matter. For related disclosures, please refer to Notes 3, 3-28, and Notes 5, 5-40 to the financial statements.
- Audit Response