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 require