Audit Report
Zhongxinghua Certified Public Accountants LLP
Zhongxinghua Audit [2026] No. 00003800
To all shareholders of Hunan Lingpai New Energy Research Institute Co., Ltd.:
I. Audit Opinion
We have audited the financial statements of Hunan Lingpai New Energy Research Institute Co., Ltd. (hereinafter referred to as "Lingpai Research Institute"), which comprise the balance sheet as of January 31, 2026, the income statement, cash flow statement, statement of changes in owners' equity for January 2026, and the related notes to the financial statements.
In our opinion, the accompanying financial statements, in all material respects, are prepared in accordance with the provisions of the Accounting Standards for Business Enterprises, and fairly present the financial position of Lingpai Research Institute as of January 31, 2026, and its operating results and cash flows for January 2026.
II. Basis for Audit Opinion
We conducted our audit in accordance with the Auditing Standards for Certified Public Accountants of China. The section "Auditor's Responsibilities for the Audit of Financial Statements" in our audit report further elaborates on our responsibilities under these standards. In accordance with the independence standards and the Code of Professional Ethics for Certified Public Accountants of China, we are independent of Lingpai Research Institute 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. Management's and Those Charged with Governance's Responsibilities for the Financial Statements
Management is responsible for preparing the financial statements in accordance with the provisions of the Accounting Standards for Business Enterprises so that they fairly present the financial position, and for designing, implementing, and maintaining internal controls that are necessary to enable the financial statements to be free from material misstatement, whether due to fraud or error.
When preparing the financial statements, management is responsible for assessing Lingpai Research Institute's ability to continue as a going concern, disclosing matters related to going concern (if applicable), and using the going concern assumption unless management intends to liquidate Lingpai Research Institute, cease operations, or has no realistic alternative but to do so.
Those charged with governance are responsible for overseeing Lingpai Research Institute's financial reporting process.
IV. Auditor's Responsibilities for the Audit of Financial Statements
Our objective is 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 auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but it 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 of the financial statements made on the basis of these financial statements.
In the process of conducting an audit in accordance with auditing standards, we exercised professional judgment and maintained professional skepticism. At the same time, we also performed the following work:
(1) Identified and assessed the risks of material misstatement of the financial statements due to fraud or error, designed and implemented audit procedures to respond to those risks, and obtained sufficient and appropriate audit evidence to form the basis for our opinion. Because fraud may involve collusion, forgery, intentional omissions, misrepresentations, or overriding of internal control, the risk of not detecting material misstatement due to fraud is higher than the risk of not detecting material misstatement due to error.
(2) Understood internal control related to the audit to design appropriate audit procedures, but the purpose was not to express an opinion on the effectiveness of internal control.