catalogue
1、 Audit report Page 1-6 II. Financial statements Page 7-14
(I) consolidated balance sheet Page 7
(II) balance sheet of the parent company Page 8
(III) consolidated income statement Page 9
(IV) profit statement of the parent company Page 10
(V) consolidated cash flow statement Page 11
(VI) cash flow statement of the parent company Page 12
(VII) consolidated statement of changes in owner’s equity Page 13
(VIII) statement of changes in owner’s equity of the parent company Page 14
3、 Notes to the financial statements Page 15-79
Audit report
TJS [2022] No. 11-84
Chengdu Rml Technology Co.Ltd(301050) all shareholders:
1、 Audit opinion
We have audited the financial statements of Chengdu Rml Technology Co.Ltd(301050) (hereinafter referred to as Chengdu Rml Technology Co.Ltd(301050) ), including the consolidated and parent company’s balance sheet as of December 31, 2021, the consolidated and parent company’s income statement, consolidated and parent company’s cash flow statement, consolidated and parent company’s statement of changes in owner’s equity and notes to relevant financial statements in 2021.
In our opinion, the attached financial statements are prepared in accordance with the accounting standards for business enterprises in all material aspects, and fairly reflect the financial position of Chengdu Rml Technology Co.Ltd(301050) the consolidated and parent company as of December 31, 2021, as well as the operating results and cash flow of the consolidated and parent company in 2021.
2、 Basis for forming audit opinions
We conducted our audit in accordance with the auditing standards for Chinese certified public accountants. The “responsibilities of certified public accountants for the audit of financial statements” in the audit report further expounds our responsibilities under these standards. In accordance with the code of professional ethics for Chinese certified public accountants, we are independent of Chengdu Rml Technology Co.Ltd(301050) , and have fulfilled other responsibilities in terms of professional ethics. We believe that the audit evidence we have obtained is sufficient and appropriate, which provides a basis for our audit opinion.
3、 Key audit matters
The key audit matters are the most important matters that we consider to audit the current financial statements according to our professional judgment. We shall not express an opinion on these matters based on the overall audit of the financial statements.
（1） Revenue recognition
1. Event description
See notes III (XXIII), V (II) 1 and XII (I) to the financial statements for relevant information disclosure.
Chengdu Rml Technology Co.Ltd(301050) of the operating revenue mainly comes from the sale of millimeter wave microsystems and other products. The amount of operating revenue in 2021 is 735017900 yuan.
Chengdu Rml Technology Co.Ltd(301050) selling millimeter wave microsystem products belongs to the performance obligation to be performed at a certain point in time. Product revenue recognition shall meet the following conditions: for products whose prices have not been reviewed, the revenue shall be recognized according to the tentative contract price when the products are actually delivered and the acceptance documents are obtained, and the price difference shall be recognized when the supplementary price agreement is signed or the supplementary price notice is obtained after the price is reviewed; For products that do not need price review, the revenue shall be recognized according to the contract price when the products are actually delivered and the acceptance documents are obtained. Since operating revenue is one of the key performance indicators of Chengdu Rml Technology Co.Ltd(301050) company, there may be inherent risks that Chengdu Rml Technology Co.Ltd(301050) Management (hereinafter referred to as management) achieves specific goals or expectations through inappropriate revenue recognition. Meanwhile, revenue recognition involves significant management judgment. Therefore, we determine revenue recognition as a key audit matter.
2. Audit response
For revenue recognition, our audit procedures mainly include:
(1) Understand the key internal controls related to revenue recognition, evaluate the design of these controls, determine whether they have been implemented, and test the operational effectiveness of relevant internal controls;
(2) Check the main sales contracts, understand the main contract terms or conditions, and evaluate whether the revenue recognition method is appropriate and whether the estimation of variable consideration is reasonable;
(3) Implement substantive analysis procedures for operating revenue and gross profit margin on a monthly basis, products, customers, etc., identify whether there are significant or abnormal fluctuations, and find out the causes of fluctuations;
(4) Check the supporting documents related to revenue recognition by sampling, including sales contract, sales invoice, delivery order, acceptance document, delivery order, etc;
(5) Combined with the letter of accounts receivable, the sales volume in the reporting period is confirmed to the main customers by sampling;
(6) Conduct a cut-off test on the operating income recognized before and after the balance sheet date to evaluate whether the operating income is recognized in an appropriate period;
(7) Check whether the information related to operating income has been properly presented in the financial statements.
（2） Impairment of accounts receivable
1. Event description
See notes III (IX) and V (I) 4 to the financial statements for relevant information disclosure.
As of December 31, 2021, the book balance of Chengdu Rml Technology Co.Ltd(301050) accounts receivable was 261711600 yuan, the bad debt provision was 26252600 yuan, and the book value was 23545900 yuan. According to the credit risk characteristics of various accounts receivable, the management measures its loss reserves according to the expected credit loss amount equivalent to the whole duration based on individual accounts receivable or combination of accounts receivable. For accounts receivable whose expected credit loss is measured on a single basis, the management comprehensively considers the reasonable and reliable information about past events, current situation and future economic situation forecast, estimates the expected cash flow received, and determines the bad debt provision to be withdrawn accordingly; For the accounts receivable whose expected credit loss is measured on the basis of portfolio, the management divides the portfolio based on the aging, refers to the historical credit loss experience, and adjusts it according to the forward-looking estimation, and prepares the comparison table between the aging of accounts receivable and the expected credit loss rate throughout the duration, so as to determine the accrued bad debt reserves. As the amount of accounts receivable is significant and the impairment of accounts receivable involves significant management judgment, we determine the impairment of accounts receivable as a key audit event.
2. Audit response
For the impairment of accounts receivable, our audit procedures mainly include:
(1) Understand the key internal controls related to the impairment of accounts receivable, evaluate the design of these controls, determine whether they have been implemented, and test the operation effectiveness of relevant internal controls;
(2) Review the subsequent actual write off or reversal of accounts receivable for which bad debt reserves have been accrued in previous years, and evaluate the accuracy of previous forecasts of the management;
(3) Review the relevant considerations and objective evidence of the management’s credit risk assessment of accounts receivable, and evaluate whether the management has properly identified the credit risk characteristics of various accounts receivable;
(4) For accounts receivable whose expected credit loss is measured on the basis of portfolio, evaluate the rationality of the management’s division of portfolio according to the characteristics of credit risk; Evaluate the rationality of the comparison table between the aging of accounts receivable and the expected credit loss rate for the whole duration prepared by the management according to the historical credit loss experience and forward-looking estimation of the combination with similar credit risk characteristics; Test the accuracy and completeness of the data used by the management (including accounts receivable aging, historical loss rate, migration rate, etc.) and whether the calculation of bad debt reserves is accurate;
(5) Implement the letter confirmation procedure for accounts receivable, check the post period collection of accounts receivable, and evaluate the rationality of the management’s provision for bad debts of accounts receivable;
(6) Check whether the information related to the impairment of accounts receivable has been properly presented in the financial statements.
4、 Other information
The management is responsible for other information. Other information includes the information covered in the annual report, but does not include the financial statements and our audit report.
Our audit opinion on the financial statements does not cover other information, and we will not issue any form of assurance conclusion on other information.
In combination with our audit of the financial statements, our responsibility is to read other information and consider whether other information is materially inconsistent with the financial statements or the information we have learned in the audit process, or there seems to be material misstatement.
Based on the work we have performed, if we determine that there is a material misstatement in other information, we should report that fact. In this regard, we have nothing to report.
5、 Responsibilities of management and governance for financial statements
The management is responsible for preparing the financial statements in accordance with the accounting standards for business enterprises to achieve a fair reflection, and designing, implementing and maintaining necessary internal control so that the financial statements are free from material misstatement, whether due to fraud or error.
When preparing the financial statements, the management is responsible for assessing Chengdu Rml Technology Co.Ltd(301050) ‘s ability to continue as a going concern, disclosing matters related to going concern (if applicable), and applying the assumption of going concern, unless liquidation is planned, operation is terminated or there is no other realistic choice.
Chengdu Rml Technology Co.Ltd(301050) governance layer (hereinafter referred to as governance layer) is responsible for supervising the financial reporting process of Chengdu Rml Technology Co.Ltd(301050) .
6、 Responsibilities of certified public accountants for the audit of financial statements
Our goal is to obtain reasonable assurance on whether the financial statements as a whole are free from material misstatement due to fraud or error, and issue an audit report containing audit opinions. Reasonable assurance is a high-level assurance, but it does not guarantee that the audit performed in accordance with the audit standards will always be found when a major misstatement exists. Misstatement may be caused by fraud or error. If it is reasonably expected that the misstatement alone or in summary may affect the economic decisions made by the users of the financial statements based on the financial statements, the misstatement is generally considered to be significant.
In the process of carrying out the audit work in accordance with the audit standards, we use professional judgment and maintain professional doubt. At the same time, we also carry out the following work:
（1） Identify and assess the risks of material misstatement of financial statements due to fraud or error, design and implement audit procedures to deal with these risks, and obtain sufficient and appropriate audit evidence as the basis for issuing audit opinions. Since fraud may involve collusion, forgery, intentional omission, misrepresentation or override of internal control, the risk of failing to find major misstatement caused by fraud is higher than that caused by error.
（2） Understand the internal control related to audit in order to design appropriate audit procedures, but the purpose is not to express an opinion on the effectiveness of internal control.
（3） Evaluate the appropriateness of accounting policies selected by the management and the rationality of accounting estimates and related disclosures.
（4） Draw conclusions on the appropriateness of management’s use of going concern assumptions. At the same time, according to the audit evidence obtained, draw a conclusion on whether there are major uncertainties in the matters or circumstances that may lead to major doubts about Chengdu Rml Technology Co.Ltd(301050) going concern ability. If we conclude that there is significant uncertainty, the auditing standards require us to draw the attention of statement users to the relevant disclosures in the financial statements in the audit report; If the disclosure is insufficient, we should express a non unqualified opinion. Our conclusions are based on the information available as of the date of the audit report. However, future events or circumstances may cause Chengdu Rml Technology Co.Ltd(301050) unable to continue to operate.
（5） Evaluate the overall presentation, structure and content of the financial statements, and evaluate whether the financial statements fairly reflect relevant transactions and events.
（6） Obtain sufficient and appropriate audit evidence on the financial information of entities or business activities in Chengdu Rml Technology Co.Ltd(301050) to express an audit opinion on the financial statements. We are responsible for guiding, supervising and implementing the group audit, and take full responsibility for the audit opinions.
We communicated with the management on the planned audit scope, schedule and major audit findings, including the internal control defects that we identified in the audit.
We also provide a statement to the management that we have complied with the professional ethics requirements related to independence, and communicate with the management all relationships and other matters that may be reasonably considered to affect our independence, as well as relevant precautions
Chengdu Rml Technology Co.Ltd(301050)
Notes to financial statements
Year 2021
Monetary unit: RMB 1. Basic information of the company
Chengdu Rml Technology Co.Ltd(301050) (hereinafter referred to as the company or the company) was formerly Chengdu Chengdu Rml Technology Co.Ltd(301050) Technology Co., Ltd. (hereinafter referred to as lightning company). Lightning company was jointly invested and established by Huang Taigang, Wei Biao, Tang Jifen, Li Hongwei and Wang Xiaozhou. It was registered with Chengdu Administration of industry and Commerce on September 11, 2007 and obtained the business license of enterprise legal person with registration number of 5101092012414. When the company was established, the registered capital was 5 million yuan. Taking October 31, 2019 as the base date, the company was changed into a joint stock limited company. It was registered with the market supervision and Administration Bureau of Chengdu high tech Zone on February 24, 2020 and headquartered in Chengdu, Sichuan Province. The company now holds a business license with a unified social credit code of 91510100665337310h, with a registered capital of 96.8 million yuan and a total of 96.8 million shares (par value of 1 yuan per share). Among them, the tradable shares with limited sales conditions: 7838645200 A shares; 1841354800 tradable shares with no sale conditions. The company’s shares were listed and traded on Shenzhen Stock Exchange on August 24, 2021.
The company belongs to computer, communication and other electronic equipment manufacturing industry. The main business activities are the R & D, manufacturing, testing and sales of millimeter wave Microsystems, and the products mainly include millimeter wave microsystems.
The financial statements have been approved by the 23rd Meeting of the first board of directors on April 22, 2022. The company included Chengdu lightning microcrystalline Technology Co., Ltd. (hereinafter referred to as lightning microcrystalline) into the scope of consolidated financial statements in the reporting period. For details, see note VI to the financial statements, description of interests in other entities.
2、 Preparation basis of financial statements
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