Rongcheng Certified Public Accountants (Special General Partnership)
Reply to the "Audit Inquiry Letter Regarding the Application for Issuance of Shares to Specific Targets by Shenzhen Inhemeter Co., Ltd."
Shenzhen Inhemeter Co., Ltd.
Rongcheng Zhuanzi [2026] No. 518Z1194
Beijing, China
Reply of Rongcheng Certified Public Accountants (Special General Partnership) to the "Audit Inquiry Letter Regarding the Application for Issuance of Shares to Specific Targets by Shenzhen Inhemeter Co., Ltd."
Shenzhen Inhemeter Co., Ltd. (hereinafter referred to as the "Company" or "Inhemeter") received the "Audit Inquiry Letter Regarding the Application for Issuance of Shares to Specific Targets by Shenzhen Inhemeter Co., Ltd." (Audit Letter [2026] No. 020040) (hereinafter referred to as the "Inquiry Letter") from the Listing Review Center of the Shenzhen Stock Exchange on May 14, 2026. In accordance with the requirements of the Inquiry Letter, Rongcheng Certified Public Accountants (Special General Partnership) (hereinafter referred to as "this Firm" or "the Accountants") has conducted a step-by-step verification and implementation of the issues in the Inquiry Letter that require verification and expression of opinions by the Accountants. The relevant responses are now provided as follows for your review.
Unless otherwise specified, the abbreviations or definitions used in this reply to the Inquiry Letter are consistent with those in the "Shenzhen Inhemeter Co., Ltd. Prospectus for Issuance of Shares to Specific Targets (Declaration Draft)" (hereinafter referred to as the "Prospectus").
The fonts used in this reply to the Inquiry Letter have the following meanings:
| Item | Font Style |
|---|---|
| Questions listed in the Inquiry Letter | Bold, Black |
| Answers to the questions | Songti, Times New Roman |
| Modifications to the Prospectus and other application documents | Kaiti, Bold |
If there are any discrepancies between the total sum and the sum of the listed figures in this reply to the Inquiry Letter, they are due to rounding.
Table of Contents
Question 1: 3
Question 2: 108
Question 1
According to the declaration materials, from 2022 to the first nine months of 2025, the Company's operating income was 342.5263 million yuan, 270.7164 million yuan, 253.6974 million yuan, and 301.5412 million yuan, respectively. The net profit attributable to the parent company was -60.6859 million yuan, -40.7791 million yuan, -89.6554 million yuan, and -44.6694 million yuan, respectively, remaining negative, mainly due to fierce downstream market competition and large-scale R&D investment. The comprehensive gross profit margins were 21.80%, 21.89%, 20.38%, and 18.54%, respectively, with the overall gross margin level lower than the industry average. The net cash flows from operating activities were -27.6623 million yuan, -6.8994 million yuan, 0.7878 million yuan, and 17.0032 million yuan, respectively, showing an overall growth trend.
From the end of 2022 to the end of September 2025, the book value of the Company's accounts receivable was 220.8360 million yuan, 190.7001 million yuan, 173.7043 million yuan, and 192.1070 million yuan, respectively, accounting for 40.12%, 44.55%, 39.25%, and 38.09% of the total current assets at the end of each period. The proportion of accounts receivable within one year for the issuer is over 60%. According to the declaration materials, the Company's accounts receivable turnover rate continued to decline from 2023 to 2024.
From the end of 2022 to the end of September 2025, the book value of the issuer's inventory was 97.1851 million yuan, 64.4911 million yuan, 103.4091 million yuan, and 109.4545 million yuan, respectively, accounting for 9.39%, 6.70%, 10.10%, and 10.13% of assets.