飞亚达Ｂ:2023年年度审计报告(英文版)

FIYTAPrecision Technology Co., Ltd.
Independent Auditor’s Report
D.H.S.Z. [2024]0011000766-EN
DaHuaCertifiedPublicAccountants（SpecialGeneralPartnership）

FIYTA Precision Technology Co., Ltd.
IndependentAuditor’s Report and Financial Statements
(1January 2023 to 31 December 2023)
Content Page
I. Independent Auditor’s Report 1-7
II. Audited Financial Statements
Consolidated Balance Sheet 1-2
Consolidated Statement of Comprehensive 3
Income
Consolidated Cash Flow Statement 4
Consolidated Statement of Changes in Equity 5-6
Parent Company’s Balance Sheet 7-8
Parent Company’s Statement of Comprehensive 9
Income
Parent Company’s Cash Flow Statement 10
Parent Company’s Statement of Changes in 11-12
Equity
Notes to Financial Statements 13-121
Da Hua Certified Public Accountants (Special General Partnership)
12th Floor, Building 7, No. 16, Xisihuan Middle Road, Haidian District, Beijing [100039]
Tel: 86 (10) 5835 0011 Fax: 86 (10) 5835 0006
www.dahua-cpa.com
I n d e p e n d e n t A u d i t o r ’ s R e p o r t
D.H.S.Z.[2024] 0011000766-EN
To the Shareholders of FIYTA Precision Technology Co., Ltd.:
I.Audit Opinion
We have audited the accompanying financial statements of FIYTA Precision
Technology Co., Ltd. (herein after “FIYTA Ltd.” or the Company) , which comprise
the consolidated and the parent company’s balance sheet as at 31 December 2023, the
consolidated and the parent company’s statement of comprehensive income, the
consolidated and the parent company’s cash flow statements and the consolidated and
the parent company’s statement of changes in equity for the year then ended, and notes
to the financial statements.
In our opinion, the accompanying financial statements present in all material
respects in accordance with the requirements of Accounting Standards for Business
Enterprises, and fairly reflect FIYTALtd.’s financial position at 31December 2023 and
the financial performance and cash flows for the year then ended.
II.Basis forAudit Opinion
We conducted our audit in accordance with CICPA Standards on Auditing
(“CSAs”) . In ‘Certified Public Accountant’s Responsibilities for the Audit of
Financial Statements’ of this report, our responsibilities under these standards are
described. Those standards require that we comply with CICPA professional ethical
requirements, that we are independent from FIYTA Ltd. and have fulfilled all other
ethical obligations. We believe that we have obtained sufficient and appropriate audit
evidence as basis of for our opinion.
III.Key Audit Matters
IndependentAuditor’s Report - Page 1

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
matterswereaddressed in thecontextofouraudit of thefinancialstatementsasawhole,
and in forming our opinion thereon, and we do not provide a separate opinion on these
matters.
We have determinedthefollowingkeyaudit matters that needto be communicated
in audit report.
(I) Existence of inventory and its net realizable value
1. Description
As at 31 December 2023, the book balance, provision for decline in value, and
carrying amount of inventory were RMB2,172.58 million, RMB71.91 million and
RMB2,100.67 million respectively. The carrying amount of inventory accounts for
49.97% of the total assets of the Company.
(i) As the main business of FIYTA Ltd is selling FIYTA brand watches and other
branded watches, the main inventory of FIYTA Ltd are finished watches and watch
components. The inventories are distributed in stores, regional warehouses, resellers’
warehouses and the Company’s warehouses which caused difficulty in inventory
physical observation;
(ii) The management of FIYTA Ltd measures inventory at lower of cost and net
realizable value (NRV) at balance sheet date. Where the cost of an inventory exceeds
its NRV, the difference is recognized as provision for decline in value. The
determination ofNRVinvolvessignificant judgment andestimatesbytheManagement.
Inventory value is significant to the Company’s assets and it requires significant
judgement by the Management, as a result, we identified existence of inventory and its
net realizable value as key audit matters.
2. How our audit addressed the key audit matter
Major audit pr