Table of Contents
-
Audit Report: Pages 1–6
-
Financial Statements: Pages 7–14
(1) Consolidated Balance Sheet: Page 7
(2) Parent Company Balance Sheet: Page 8
(3) Consolidated Income Statement: Page 9
(4) Parent Company Income Statement: Page 10
(5) Consolidated Cash Flow Statement: Page 11
(6) Parent Company Cash Flow Statement: Page 12
(7) Consolidated Statement of Changes in Equity: Page 13
(8) Parent Company Statement of Changes in Equity: Page 14
-
Notes to Financial Statements: Pages 15–105
-
Supplementary Information: Pages 106–109
Audit Report
Audit Report [blank] [2026] No. 416
To the Shareholders of Chongqing Meilixin Technology Co., Ltd.:
I. Audit Opinion
We have audited the financial statements of Chongqing Meilixin Technology Co., Ltd. (hereinafter referred to as "Meilixin Company"), which include the consolidated and parent company balance sheets as of December 31, 2025, the 2025 consolidated and parent company income statements, the consolidated and parent company cash flow statements, the consolidated and parent company statements of changes in equity, and the relevant notes to the financial statements.
In our opinion, the accompanying financial statements have been prepared in all material respects in accordance with the Accounting Standards for Business Enterprises, and fairly present the consolidated and parent company financial position of Meilixin Company as of December 31, 2025, as well as the consolidated and parent 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 Financial Statements" section of this report. In accordance with the Code of Ethics for Certified Public Accountants of China and the independence requirements of the "Code of Ethics for Professional Accountants of China No. 1 — Audit of Financial Statements and Other Assurance Engagements," we are independent of Meilixin Company 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. 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 of the current period. These matters were addressed in the context of our audit of the financial statements as a whole, and in forming our opinion thereon, we do not provide a separate opinion on these matters.
(I) Revenue Recognition
- Matter Description
For relevant information disclosure, please refer to Notes III (24) and V (2) 1 to the financial statements.
Meilixin Company's operating revenue is mainly derived from communication structural components and automotive parts. In 2025, Meilixin Company's operating revenue was RMB 3,883,153,000, of which the combined operating revenue from communication structural components and automotive parts was RMB 3,539,769,300, accounting for 91.16% of operating revenue.
Since operating revenue is one of Meilixin Company's key performance indicators, there is an inherent risk that Meilixin Company's management (hereinafter referred to as "Management") may use inappropriate revenue recognition to achieve specific targets or expectations. Therefore, we identify revenue recognition as a key audit matter.
- Audit Response
Our audit procedures for revenue recognition mainly include:
(1) Understanding key internal controls related to revenue recognition, evaluating the design of these controls, determining whether they have been implemented, and testing the operating effectiveness of relevant internal controls;
(2) Inspecting sales contracts to understand major contract terms or conditions and evaluating whether the revenue recognition method is appropriate;
(3) Performing analytical procedures on operating revenue and gross profit margin by month, product, and customer to identify whether there are any material or abnormal fluctuations and investigating the reasons;