深纺织Ｂ(200045):2024年年度审计报告（英文版）
原标题:深纺织Ｂ:2024年年度审计报告（英文版） Shenzhen Textile (Holdings) Co., Ltd. Financial Statements and Audit Report For Year Ended December 31, 2024 Financial Statements and Audit Report For Year Ended December 31, 2024 Content Page Audit Report 1-4 Consolidated and parent company's balance sheet 5-7 Consolidated and parent company's income statement 8-9 Consolidated and parent company's statement of cash flows 10-11 Consolidated and parent company's statement of changes in shareholders' equity 12-15 Notes to the financial statements 16-102 Audit Report DSB (S) Z (25) No. P03605 (Page 1 of 4) All shareholders of Shenzhen Textile (Holdings) Co., Ltd. I. Audit opinions We have audited the financial statements of Shenzhen Textile (Holdings) Co., Ltd. (hereinafter referred to as the "Shenzhen Textile"), including the consolidated and parent company's balance sheet as at December 31, 2024, the consolidated and parent company's income statement, consolidated and parent company's statement of cash flows, consolidated and parent company's statement of changes in shareholders' equity and related notes to the financial statements for the year then ended. In our opinion, the attached financial statements are prepared, in all material respects, in accordance with the Accounting Standards for Business Enterprises, and fairly present the consolidated and the parent company's financial position of Shenzhen Textile as at December 31, 2024 and the consolidated and the parent company's operating results and cash flows for the year then ended. II. Basis for the audit opinion We have conducted our audit in accordance with the Chinese Auditing Standards for Certified Public Accountants. Our responsibilities under these standards are further described in the "Certified Public Accountant's Responsibilities for the Audit of Financial Statements" section of the audit report. In accordance with the Code of Ethics for Chinese Certified Public Accountants, we are independent of Shenzhen Textile and have fulfilled 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, are of most significance in our audit of the financial statements of the current year. These matters are addressed 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 identified the following matters as key audit matters to be communicated in the audit report. 1. Recognition of revenue from sales of polarizers As described in the Note (V). 41 to the financial statements, in 2024, the operating revenue of Shenzhen Textile as presented in the consolidated financial statements was RMB 3,335,283,008.68, of which the revenue from sales of polarizers was RMB 3,161,332,478.08, accounting for 94.78% of the total revenue. The revenue from sales of polarizers of Shenzhen Textile is recognized when the customer obtains control of the relevant goods. Due to the importance of revenue from sales of polarizers to the consolidated financial statements as a whole, and the fact that the revenue is one of the key performance indicators of Shenzhen Textile, there is an inherent risk that management may manipulate the revenue recognition, in order to achieve specific goals or expectations. Therefore, we have identified the recognition of revenue from sales of polarizers as a key audit matter in the audit of the consolidated financial statements. Audit Report - Continued DSB (S) Z (25) No. P03605 (Page 2 of 4) III. Key audit matters - continued 1. Recognition of revenue from sales of polarizers - continued In response to the above key audit matters, the audit procedures we performed mainly include: ? Test and evaluate the effectiveness of the operation of internal control related to the sales business of polarizer; ? Check the sales contracts signed with major customers, identify the terms and conditions of the contracts related to the transfer of right of control of the goods, and evaluate whether the accounting policies for recognition of revenue from sales of polarizers meet the requirements of the Accounting Standards for Business Enterprises; ? Execute analytical procedures for the revenue from sales of polarizers by production line, product type and customer respectively, and analyze the rationality of the change in revenue from sales of polarizers in combination with market selling price and other factors; ? Extract samples to perform detail tests on the revenue from sales of polarizers, check the supporting documents such as invoices, delivery orders and receipts related to the recognition of revenue from sales of polarizers, and conduct letter of confirmation on the sales amount of major customers to verify the authenticity of revenue from sales of polarizers; ? Select samples for sales transactions before and after the balance sheet date, check supporting documents such as delivery orders, receipts and invoices, and evaluate whether the revenue from sales of polarizers is recorded in the appropriate accounting period. 2. Impairment of polarizer inventories As described in Note (V). 8 to the Financial Statements, as of December 31, 2024, the book balance of inventories of Shenzhen Textile as presented in the consolidated financial statements was RMB 911,706,239.87, of which the book balance of polarizer inventories was RMB 905,482,857.11, accounting for 99.32% of the total inventories, and the corresponding provision for inventory depreciation of polarizer was RMB 115,967,084.94. According to the accounting policies of Shenzhen Textile, the inventories are measured at the lower of cost or net realizable value at the end of the year. When the net realizable value of the inventories is lower than the cost, the provision for inventory depreciation shall be made according to the difference. Since the provision for inventory depreciation involves significant estimates of the management, we have identified the impairment of polarizer inventories as a key audit matter in the audit of the consolidated financial statements. In response to the above key audit matters, the audit procedures we performed mainly include: ? Test and evaluate the effectiveness of internal control related to the impairment of polarizer inventories; ? Evaluate the appropriateness of accounting policies related to the impairment of polarizer inventories; ? Implement the on-site monitoring procedures of polarizer inventories, check the inventory quantity of polarizer inventories and observe the status of polarizer inventories on the basis of sampling; ? Select samples, compare the data used in determining the net realizable value of the polarizer inventories with the actual cost of completion of products in progress and the actual selling prices incurred recently, and evaluate the reasonableness of the net realizable value of polarizer inventories. Audit Report - Continued DSB (S) Z (25) No. P03605 (Page 3 of 4) IV. Other information The management of Shenzhen Textile is responsible for other information. Other information includes information covered in the 2024 Annual Report of Shenzhen Textile, but excludes the financial statements and our audit report. Our audit opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. In connection with our audit of financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with financial statements or our knowledge obtained during the audit or otherwise appears to be materially misstated. If, based on the work we have performed, we conclude that there is a material misstatement of the other information, we are required to report that fact. We have nothing to report in this regard. IV. Responsibilities of the management and those charged with governance for financial statements The management of Shenzhen Textile is responsible for preparing the financial statements in accordance with the requirements of Accounting Standards for Business Enterprises to achieve a fair presentation, and for designing, implementing and maintaining internal control that is necessary to ensure that the financial statements are free from material misstatements, whether due to frauds or errors. In preparing the financial statements, the management is responsible for assessing the going-concern ability of Shenzhen Textile, disclosing matters related to going concern (if applicable) and applying the going concern basis, unless the management plans to liquidate Shenzhen Textile, terminate its operations or has no other realistic alternative. Those charged with governance are responsible for overseeing the financial reporting process of Shenzhen Textile. VI. Responsibilities of certified public accountants for the audit of 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 the audit 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 aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. We have exercised professional judgment and maintained professional skepticism in performing our audit under the auditing standards. At the same time, we also implement the following work: (1) Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. Audit Report - Continued DSB (S) Z (25) No. P03605 (Page 4 of 4) VI. Responsibilities of certified public accountants for the audit of financial statements - continued (2) Understand the internal control related to the audit, so as to design appropriate audit procedures. (3) Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the management. (4) Draw conclusions on the appropriateness of the management's use of the going concern basis. At the same time, based on the audit evidence obtained, a conclusion is drawn as to whether there is a material uncertainty in events or circumstances that may give rise to significant doubt about the going-concern ability of Shenzhen Textile. If we conclude that a material uncertainty exists, we are required to, in our audit report, draw attention of the users of statements to the related disclosures in the financial statements; if such disclosures are inadequate, we should modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our audit report. However, future events or circumstances may cause Shenzhen Textile to cease to continue as a going concern. (5) Evaluate the overall presentation (including disclosures), structure and content of the financial statements, and whether the financial statements fairly reflect the relevant transactions and matters. (6) Obtain sufficient and appropriate audit evidence regarding the financial information of the entities or business activities within Shenzhen Textile to express an opinion on the financial statements. We are responsible for the direction, supervision and performance of the group audit. We remain solely responsible for our audit opinion. We communicate with those charged with governance regarding the planned scope and timing of the audit, significant audit findings and other matters, including any significant deficiencies in internal control that we identify during our audit. We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and the related safeguards (if applicable). From the matters communicated with those charged with governance, we have determined which matters are of most significance to the audit of the financial statements in the current year and thus constitute the key audit matters. We describe these matters in the audit report unless laws and regulations prohibit public disclosure of these matters, or in extremely rare circumstances, if it is reasonably expected that the negative consequences of communicating a matter outweigh the benefits to the public interest in the audit report, we determine not to do so. Deloitte Touche Tohmatsu Certified Public Accountants LLP Certified Public Accountant of China (Engagement partner) Shanghai, China Certified Public Accountant of China March 26, 2025 Consolidated Balance Sheet Consolidated Balance Sheet RMB
Consolidated Balance Sheet - Continued Consolidated Balance Sheet - Continued RMB
The notes are an integral part of the financial statements _____________________ ______________________ ______________________ Principal Chief Finance Officer Chief Accountant Balance Sheet of the Parent Company Balance Sheet of the Parent Company RMB
The notes are an integral part of the financial statements Consolidated Income Statement Consolidated Income Statement RMB
Income Statement of the Parent Company Income Statement of the Parent Company RMB
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