2024 Annual Report – Shanghai Turbo Enterprises Ltd.
Units appear below each metric. Scroll to compare years
| Metric / unit | 2024Group | 2023Group | Source |
|---|---|---|---|
| Income | |||
| RevenueRMB’000 | 83,018 | 78,994 | PDF p. 51 |
| Cost of salesRMB’000 | (65,855) | (59,743) | PDF p. 51 |
| Gross profitRMB’000 | 17,163 | 19,251 | PDF p. 51 |
| Other operating incomeRMB’000 | 4,373 | 6,662 | PDF p. 51 |
| Finance incomeRMB’000 | - | 56 | PDF p. 51 |
| Expenses | |||
| Selling and distribution expensesRMB’000 | (4,801) | (8,164) | PDF p. 51 |
| Administrative expensesRMB’000 | (16,060) | (15,242) | PDF p. 51 |
| Other operating expensesRMB’000 | (17) | (56) | PDF p. 51 |
| Impairment loss on property, plant and equipmentRMB’000 | (3,158) | (18,103) | PDF p. 51 |
| Expected credit losses (“ECL”) (made)/reversedRMB’000 | (5,896) | 5,256 | PDF p. 51 |
| Finance costsRMB’000 | (3,290) | (2,348) | PDF p. 51 |
| Income | |||
| Loss before income taxRMB’000 | (11,686) | (12,688) | PDF p. 51 |
| Income tax | |||
| Income tax expenseRMB’000 | - | - | PDF p. 51 |
| Income | |||
| Loss for the yearRMB’000 | (11,686) | (12,688) | PDF p. 51 |
| Other comprehensive income | |||
| Foreign currency translation differencesRMB’000 | 8 | 261 | PDF p. 51 |
| Total comprehensive income | |||
| Total comprehensive loss for the year, representing loss attributable to equity holders of the CompanyRMB’000 | (11,678) | (12,427) | PDF p. 51 |
| Loss per share | |||
| Basic and dilutedcents per share | (38.29) | (41.57) | PDF p. 51 |
Original report: PDF p. 51 ↗
2023 is marked “(Restated)” in the printed column heading. The report presents no separate Company income or comprehensive income statement in the primary statements. EPS is printed in cents per share.
Units appear below each metric. Scroll to compare years
| Metric / unit | 2024Group, 31 December | 2023Group, 31 December (Restated) | 2023Group, 1 January | Source |
|---|---|---|---|---|
| Non-current assets | ||||
| Property, plant and equipmentRMB’000 | 760 | 1,342 | 17,800 | PDF p. 48 |
| Right-of-use assetsRMB’000 | 15,782 | 8,332 | 8,574 | PDF p. 48 |
| Intangible assetsRMB’000 | - | - | - | PDF p. 48 |
| Other receivableRMB’000 | 10,394 | - | - | PDF p. 48 |
| Non-current assets subtotal | ||||
| SubtotalRMB’000 | 26,936 | 9,674 | 26,374 | PDF p. 48 |
| Current assets | ||||
| InventoriesRMB’000 | 11,645 | 12,154 | 10,792 | PDF p. 48 |
| Trade receivablesRMB’000 | 23,114 | 30,338 | 23,408 | PDF p. 48 |
| Contract assetsRMB’000 | 1,881 | 1,533 | - | PDF p. 48 |
| Other receivables, deposits and prepaymentsRMB’000 | 1,977 | 18,666 | 16,722 | PDF p. 48 |
| Cash and cash equivalentsRMB’000 | 12,688 | 9,137 | 13,702 | PDF p. 48 |
| Current assets subtotal | ||||
| SubtotalRMB’000 | 51,305 | 71,828 | 64,624 | PDF p. 48 |
| Assets | ||||
| TOTAL ASSETSRMB’000 | 78,241 | 81,502 | 90,998 | PDF p. 48 |
| Equity | ||||
| Share capitalRMB’000 | 60,318 | 60,318 | 60,318 | PDF p. 48 |
| Share premiumRMB’000 | 79,803 | 79,803 | 79,803 | PDF p. 48 |
| Capital and reserves attributable to equity holders subtotal | ||||
| SubtotalRMB’000 | 140,121 | 140,121 | 140,121 | PDF p. 48 |
| Other reserves | ||||
| Statutory reserveRMB’000 | 30,526 | 30,526 | 30,526 | PDF p. 48 |
| Translation reserveRMB’000 | 1,123 | 1,115 | 854 | PDF p. 48 |
| Other reserves subtotal | ||||
| SubtotalRMB’000 | 31,649 | 31,641 | 31,380 | PDF p. 48 |
| Equity | ||||
| Accumulated lossesRMB’000 | (179,532) | (167,846) | (155,158) | PDF p. 48 |
| Total equityRMB’000 | (7,762) | 3,916 | 16,343 | PDF p. 48 |
| Non-current liability | ||||
| Deferred government grantsRMB’000 | 445 | 668 | 890 | PDF p. 48 |
| Non-current liability subtotal | ||||
| SubtotalRMB’000 | 445 | 668 | 890 | PDF p. 48 |
| Current liabilities | ||||
| Trade payablesRMB’000 | 26,856 | 18,410 | 15,988 | PDF p. 49 |
| Contract liabilitiesRMB’000 | 635 | 786 | 1,005 | PDF p. 49 |
| Other payables and accrualsRMB’000 | 11,194 | 8,849 | 8,899 | PDF p. 49 |
| BorrowingsRMB’000 | 42,500 | 44,500 | 43,500 | PDF p. 49 |
| ProvisionRMB’000 | 4,373 | 4,373 | 4,373 | PDF p. 49 |
| Current liabilities subtotal | ||||
| SubtotalRMB’000 | 85,558 | 76,918 | 73,765 | PDF p. 49 |
| Liabilities | ||||
| Total liabilitiesRMB’000 | 86,003 | 77,586 | 74,655 | PDF p. 49 |
| Equity and liabilities | ||||
| Total equity and liabilitiesRMB’000 | 78,241 | 81,502 | 90,998 | PDF p. 49 |
Original report: PDF p. 48 ↗ PDF p. 49 ↗
The Group balance sheet spans physical pages 48–49. The report marks the 31 December 2023 and 1 January 2023 figures as “(Restated)” in the column heading.
Units appear below each metric. Scroll to compare years
| Metric / unit | 2024Company, 31 December | 2023Company, 31 December (Restated) | 2023Company, 1 January | Source |
|---|---|---|---|---|
| Non-current assets | ||||
| Investment in subsidiariesRMB’000 | 21,877 | 30,391 | 25,900 | PDF p. 50 |
| Current assets | ||||
| Cash and cash equivalentsRMB’000 | - | - | 7 | PDF p. 50 |
| Assets | ||||
| TOTAL ASSETSRMB’000 | 21,877 | 30,391 | 25,907 | PDF p. 50 |
| Equity | ||||
| Share capitalRMB’000 | 60,318 | 60,318 | 60,318 | PDF p. 50 |
| Share premiumRMB’000 | 79,803 | 79,803 | 79,803 | PDF p. 50 |
| Capital and reserves attributable to equity holders subtotal | ||||
| SubtotalRMB’000 | 140,121 | 140,121 | 140,121 | PDF p. 50 |
| Equity | ||||
| Accumulated lossesRMB’000 | (155,849) | (145,222) | (149,058) | PDF p. 50 |
| Total equityRMB’000 | (15,728) | (5,101) | (8,937) | PDF p. 50 |
| Current liabilities | ||||
| Other payablesRMB’000 | 2,457 | 1,475 | 1,989 | PDF p. 50 |
| Due to subsidiaries (non-trade)RMB’000 | 35,148 | 34,017 | 32,855 | PDF p. 50 |
| Current liabilities subtotal | ||||
| SubtotalRMB’000 | 37,605 | 35,492 | 34,844 | PDF p. 50 |
| Equity and liabilities | ||||
| Total equity and liabilitiesRMB’000 | 21,877 | 30,391 | 25,907 | PDF p. 50 |
Original report: PDF p. 50 ↗
The Company balance sheet is reported separately from the Group statement. The report marks the 31 December 2023 and 1 January 2023 figures as “(Restated)” in the column heading.
Units appear below each metric. Scroll to compare years
| Metric / unit | 2024Group | 2023Group | Source |
|---|---|---|---|
| Revenue and expenses | |||
| RevenueRMB’000 | 83,018 | 78,994 | PDF p. 51 |
| Cost of salesRMB’000 | (65,855) | (59,743) | PDF p. 51 |
| Gross profitRMB’000 | 17,163 | 19,251 | PDF p. 51 |
| Other operating incomeRMB’000 | 4,373 | 6,662 | PDF p. 51 |
| Finance incomeRMB’000 | - | 56 | PDF p. 51 |
| Selling and distribution expensesRMB’000 | (4,801) | (8,164) | PDF p. 51 |
| Administrative expensesRMB’000 | (16,060) | (15,242) | PDF p. 51 |
| Other operating expensesRMB’000 | (17) | (56) | PDF p. 51 |
| Impairment loss on property, plant and equipmentRMB’000 | (3,158) | (18,103) | PDF p. 51 |
| Expected credit losses (“ECL”) (made)/reversedRMB’000 | (5,896) | 5,256 | PDF p. 51 |
| Finance costsRMB’000 | (3,290) | (2,348) | PDF p. 51 |
| Profit or loss | |||
| Loss before income taxRMB’000 | (11,686) | (12,688) | PDF p. 51 |
| Income tax expenseRMB’000 | - | - | PDF p. 51 |
| Loss for the yearRMB’000 | (11,686) | (12,688) | PDF p. 51 |
| Other comprehensive income | |||
| Foreign currency translation differencesRMB’000 | 8 | 261 | PDF p. 51 |
| Total comprehensive income | |||
| Total comprehensive loss for the year, representing loss attributable to equity holders of the CompanyRMB’000 | (11,678) | (12,427) | PDF p. 51 |
| Loss per share | |||
| Basic and dilutedcents | (38.29) | (41.57) | PDF p. 51 |
Original report: PDF p. 51 ↗
The 2023 comparative figures are marked “(Restated)” in the statement header.
The accompanying notes are an integral part of the financial statements.
Units appear below each metric. Scroll to compare years
| Metric / unit | 2024Group — Share capital (RMB’000) | 2024Group — Share premium (RMB’000) | 2024Group — Statutory reserve (RMB’000) | 2024Group — Translation reserves (RMB’000) | 2024Group — Accumulated losses (RMB’000) | 2024Group — Total equity (RMB’000) | Source |
|---|---|---|---|---|---|---|---|
| Opening balances | |||||||
| Balance as at 1 January 2023RMB’000 | 60,318 | 79,803 | 30,526 | 854 | (155,158) | 16,343 | PDF p. 52 |
| Comprehensive income | |||||||
| Loss for the yearRMB’000 | - | - | - | - | (12,688) | (12,688) | PDF p. 52 |
| Other comprehensive loss, net of tax - Currency translation differences arising from consolidationRMB’000 | - | - | - | 261 | - | 261 | PDF p. 52 |
| Total comprehensive income/(loss)RMB’000 | - | - | - | 261 | (12,688) | (12,427) | PDF p. 52 |
| Closing balances | |||||||
| Balance at 31 December 2023RMB’000 | 60,318 | 79,803 | 30,526 | 1,115 | (167,846) | 3,916 | PDF p. 52 |
| Opening balances | |||||||
| Balance at 1 January 2024, as previously reportedRMB’000 | 60,318 | 79,803 | 30,526 | 1,115 | (148,009) | 23,753 | PDF p. 52 |
| Opening balances adjustments | |||||||
| Prior year adjustments (Note 34)RMB’000 | - | - | - | - | (19,837) | (19,837) | PDF p. 52 |
| Opening balances | |||||||
| Balance at 1 January 2024, as restatedRMB’000 | 60,318 | 79,803 | 30,526 | 1,115 | (167,846) | 3,916 | PDF p. 52 |
| Comprehensive income | |||||||
| Loss for the yearRMB’000 | - | - | - | - | (11,686) | (11,686) | PDF p. 52 |
| Other comprehensive loss, net of tax - Currency translation differences arising from consolidationRMB’000 | - | - | - | 8 | - | 8 | PDF p. 52 |
| Total comprehensive income/(loss)RMB’000 | - | - | - | 8 | (11,686) | (11,678) | PDF p. 52 |
| Closing balances | |||||||
| Balance at 31 December 2024RMB’000 | 60,318 | 79,803 | 30,526 | 1,123 | (179,532) | (7,762) | PDF p. 52 |
Original report: PDF p. 52 ↗
Column headings identify Share capital (Note 18), Share premium (Note 19), Statutory reserve (Note 20), Translation reserves (Note 21), Accumulated losses, and Total equity.
The accompanying notes are an integral part of the financial statements.
Units appear below each metric. Scroll to compare years
| Metric / unit | 2024Company — Share capital (RMB’000) | 2024Company — Share premium (RMB’000) | 2024Company — Accumulated losses (RMB’000) | 2024Company — Total equity (RMB’000) | Source |
|---|---|---|---|---|---|
| Opening balances | |||||
| Balance as at 1 January 2023RMB’000 | 60,318 | 79,803 | (149,058) | (8,937) | PDF p. 53 |
| Comprehensive income | |||||
| Profit for the year, representing the total comprehensive income for the yearRMB’000 | - | - | 3,836 | 3,836 | PDF p. 53 |
| Opening balances adjustments | |||||
| Prior year adjustments (Note 34)RMB’000 | - | - | 18,491 | 18,491 | PDF p. 53 |
| Comprehensive income | |||||
| Loss for the year, representing the total comprehensive loss for the yearRMB’000 | - | - | (10,627) | (10,627) | PDF p. 53 |
Original report: PDF p. 53 ↗
The Company statement reports total comprehensive income with 2023 profit of 3,836 and total comprehensive loss for 2024 of (10,627).
The accompanying notes are an integral part of the financial statements.
Units appear below each metric. Scroll to compare years
| Metric / unit | 2024Group | 2023Group | Source |
|---|---|---|---|
| Operating activities | |||
| Loss before income taxRMB’000 | (11,686) | (12,688) | PDF p. 54 |
| Operating activities adjustments | |||
| Allowance made for inventories obsolescenceRMB’000 | 880 | 1,454 | PDF p. 54 |
| Amortisation of deferred government grantsRMB’000 | (223) | (222) | PDF p. 54 |
| Depreciation of right-of-use of assetsRMB’000 | 240 | 242 | PDF p. 54 |
| Depreciation of property, plant and equipmentRMB’000 | 832 | 781 | PDF p. 54 |
| ECL on trade receivables made/(reversed)RMB’000 | 6,186 | (5,592) | PDF p. 54 |
| ECL on contract assets (reversed)/madeRMB’000 | (290) | 336 | PDF p. 54 |
| Impairment loss on property, plant and equipment madeRMB’000 | 3,158 | 18,103 | PDF p. 54 |
| Interest incomeRMB’000 | - | (56) | PDF p. 54 |
| Interest expensesRMB’000 | 3,290 | 2,348 | PDF p. 54 |
| Operating activities | |||
| Operating profit before working capital changesRMB’000 | 2,387 | 4,706 | PDF p. 54 |
| Operating activities working capital changes | |||
| InventoriesRMB’000 | (371) | (2,816) | PDF p. 54 |
| Trade and other receivablesRMB’000 | 6,048 | (3,031) | PDF p. 54 |
| Contract assetsRMB’000 | (58) | (1,869) | PDF p. 54 |
| Trade and other payablesRMB’000 | 10,799 | 2,372 | PDF p. 54 |
| Contract liabilitiesRMB’000 | (151) | (219) | PDF p. 54 |
| Operating activities | |||
| Cash generated from/(used in) operationsRMB’000 | 18,654 | (857) | PDF p. 54 |
| Interest income receivedRMB’000 | - | 56 | PDF p. 54 |
| Net cash generated from/(used in) operating activitiesRMB’000 | 18,654 | (801) | PDF p. 54 |
| Investing activities | |||
| Purchase of property, plant and equipmentRMB’000 | (3,408) | (2,426) | PDF p. 54 |
| Purchase of right-of-use assetRMB’000 | (7,690) | - | PDF p. 54 |
| Net cash used in investing activitiesRMB’000 | (11,098) | (2,426) | PDF p. 54 |
| Financing activities | |||
| (Placement)/Withdrawal of pledged depositsRMB’000 | (422) | 1,415 | PDF p. 54 |
| Proceeds from bank loansRMB’000 | 107,500 | 44,500 | PDF p. 54 |
| Repayment of bank loansRMB’000 | (109,500) | (43,500) | PDF p. 54 |
| Interest expenses on bank borrowingsRMB’000 | (1,732) | (1,819) | PDF p. 54 |
| Discount expense on bill receivablesRMB’000 | (273) | (529) | PDF p. 54 |
| Net cash (used in)/generated from financing activitiesRMB’000 | (4,427) | 67 | PDF p. 54 |
| Cash and cash equivalents | |||
| Net increase/(decrease) in cash and cash equivalentsRMB’000 | 3,129 | (3,160) | PDF p. 54 |
| Cash and cash equivalents at beginning of yearRMB’000 | 8,799 | 11,949 | PDF p. 54 |
| Effects of exchange rate changes in cash and cash equivalentsRMB’000 | - | 10 | PDF p. 54 |
| Cash and cash equivalents at end of yearRMB’000 | 11,928 | 8,799 | PDF p. 54 |
Original report: PDF p. 54 ↗
2023 comparative amounts are marked “(Restated)” in the statement header.
No separate Company cash flow statement is presented in the inspected primary statements.
The accompanying notes are an integral part of the financial statements.
Units appear below each metric. Scroll to compare years
| Metric / unit | 2020Financial highlights; scope not specified | 2021Financial highlights; scope not specified | 2022Financial highlights; scope not specified | 2023Financial highlights; scope not specified | 2024Financial highlights; scope not specified | Source |
|---|---|---|---|---|---|---|
| Statement of Profit or Loss and Other Comprehensive Income | ||||||
| RevenueRMB’000 | 34,273 | 62,556 | 63,933 | 78,994 | 83,018 | PDF p. 9 |
| Gross profit/lossRMB’000 | -38,174 | 14,776 | 13,441 | 19,251 | 17,163 | PDF p. 9 |
| Loss before income taxRMB’000 | -29,228 | -244 | -4,960 | -12,688 | -11,686 | PDF p. 9 |
| Net loss after income taxRMB’000 | -29,329 | -466 | -9,085 | -12,427 | -11,678 | PDF p. 9 |
| Statement of Financial Position | ||||||
| Including right-of-use as setsRMB’000 | 29,873 | 29,873 | 26,374 | 9,674 | 16,542 | PDF p. 9 |
| InventoriesRMB’000 | 7,773 | 10,600 | 10,792 | 12,154 | 11,645 | PDF p. 9 |
| Trade receivablesRMB’000 | 22,953 | 36,486 | 23,408 | 30,338 | 23,114 | PDF p. 9 |
| Cash and bank balancesRMB’000 | 3,811 | 5,731 | 13,702 | 9,137 | 12,688 | PDF p. 9 |
| Trade payablesRMB’000 | 17,685 | 29,088 | 15,988 | 18,410 | 26,856 | PDF p. 9 |
| Other payables and accrualsRMB’000 | 8,419 | 6,183 | 8,899 | 8,849 | 11,194 | PDF p. 9 |
| ProvisionRMB’000 | 4,373 | 4,373 | 4,373 | 4,373 | 4,373 | PDF p. 9 |
| Bank loanRMB’000 | 9,497 | 17,490 | 43,500 | 44,500 | 42,500 | PDF p. 9 |
| Shareholders’ equityRMB’000 | 23,925 | 29,701 | 16,343 | 3,916 | -7,762 | PDF p. 9 |
| Total assetsRMB’000 | 65,234 | 87,947 | 90,998 | 81,502 | 78,241 | PDF p. 9 |
| Total liabilitiesRMB’000 | 41,309 | 58,246 | 74,655 | 77,586 | 86,003 | PDF p. 9 |
| Statement of Cash Flows | ||||||
| Operating activitiesRMB’000 | 1,314 | -3,839 | -15,360 | -801 | 18,654 | PDF p. 9 |
| Investing activitiesRMB’000 | 235 | -6,621 | -241 | -2,426 | -11,098 | PDF p. 9 |
| Financing activitiesRMB’000 | -4,506 | 8,012 | 26,989 | 67 | -4,427 | PDF p. 9 |
| Net movementRMB’000 | -2,957 | -2,448 | 11,388 | -3,160 | 3,129 | PDF p. 9 |
| Financial Ratios | ||||||
| Earnings per share (RMB)RMB per share | -1.06 | -0.01 | -0.16 | -0.42 | -0.38 | PDF p. 9 |
| Net asset value per share (RMB)RMB per share | 0.78 | 0.97 | 0.54 | 0.13 | -0.25 | PDF p. 9 |
| Dividend payment quantum (RMB’000)RMB’000 | - | - | - | - | - | PDF p. 9 |
Original report: PDF p. 9 ↗
The report states: “**Dividend paid in Singapore Dollar is converted using a yearly average SGD/CNY exchange rate. Dividend yield is computed using the adjusted closing share price on the last traded day in the calendar year.” (physical page 8).
The printed dividend yield row contains four hyphens beneath five year headings; the available text does not establish which year is unreported. Values are retained in printed order without assigning a year to the missing cell.
The dividend payment quantum row has five hyphens and no disclosed payment amounts.
Where the money comes from
| Item / unit | 2024RMB'000 | 2023RMB'000 | Source |
|---|---|---|---|
| Revenue by geographical market | |||
| People’s Republic of ChinaRMB'000 | 80,367 | 69,386 | PDF p. 81 |
| KoreaRMB'000 | 2,651 | 9,608 | PDF p. 81 |
| Total revenue (unlabelled total)RMB'000 | 83,018 | 78,994 | PDF p. 81 |
Revenue from continuing operations by primary geographical market. Total row has no printed label.
| Item / unit | 2024RMB'000 | 2023RMB'000 | Source |
|---|---|---|---|
| By geographical areas | |||
| - People’s Republic of ChinaRMB'000 | 21,246 | 22,623 | PDF p. 90 |
| - South KoreaRMB'000 | 1,809 | 2,395 | PDF p. 90 |
| Total (unlabelled)RMB'000 | 23,055 | 25,018 | PDF p. 90 |
Credit risk for trade receivables by geographical area.
Debt
| Item / unit | 2024RMB'000 | 2023RMB'000 | Source |
|---|---|---|---|
| Borrowings by type | |||
| Secured borrowings (i)RMB'000 | 25,000 | 30,000 | PDF p. 78 |
| Unsecured borrowings (ii)RMB'000 | 17,500 | 14,500 | PDF p. 78 |
(i) These borrowings are secured by a pledge over the land use right of Changzhou 3D, which had a carrying amount of RMB8,092,000 (2023: RMB8,332,000) as at 31 December 2024. Interest on the secured bank loan was charged at a rate of 3.20% (2023: 4.20%) per annum. One secured bank loan of RMB25,000,000 (2023: three secured bank loans of RMB30,000,000) is repayable in December 2025 (2023: January 2024).
(ii) Interest on unsecured bank loans was charged at the rate of 3.00% and 3.70% (2023: 3.65% and 3.90%) per annum. An individual shareholder has provided a personal guarantee on loan amounting to RMB8,000,000.
Total borrowings 42,500 (2024) and 44,500 (2023); all bank loans classified as current per the reconciliation. Loans denominated in Chinese Renminbi (2023 currency table).
Payout
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Provision 11.6 | The Company does not have a concrete dividend policy at present. The form, frequency and amount of dividends declared each year will take into consideration the Group’s profit growth, cash position, positive cash flow generated from operations, projected capital requirements for business growth and other macroeconomic and internal factors as the Board may deem appropriate. The Company endeavours to pay dividends and where dividends are not paid, the Company will disclose its reason(s) accordingly. | Company/Group, FY2024 | PDF p. 33 |
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Provision 11.6 | the Board has therefore recommended that no dividends be declared for FY2024 | FY2024 final/interim dividends; none declared or proposed | PDF p. 33 |
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Dividend payment quantum (RMB’000) | - RMB’000 | Group, 2020 to 2024 (2024 and 2023 comparative both '-') | PDF p. 9 |
Extracted from 2024 Annual Report – Shanghai Turbo Enterprises Ltd. and checked against the cited pages; see the original report for full context.
Auditor’s report
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Independent joint auditors | Nexia Singapore PAC and NLA DFK Assurance PAC | Group and Company, FY2024 | PDF p. 43 |
| Engagement partner/director | Mr. Koh Wee Kwang from Nexia Singapore PAC and Mr. Kenneth Ng Boon Chong from NLA DFK Assurance PAC | Group and Company, FY2024 | PDF p. 47 |
| Disclaimer of Opinion | We do not express an opinion on the accompanying consolidated financial statements of the Group | Group and Company, FY2024 | PDF p. 44 |
| Basis for Disclaimer of Opinion | we have not been able to obtain sufficient appropriate audit evidence to provide a basis for an audit opinion on these financial statements | Group and Company, FY2024 | PDF p. 44 |
| Item | Value | Period / scope | Source |
|---|---|---|---|
| (5) Use of going concern basis | The Group’s and the Company’s current liabilities exceeded their current assets by RMB34,253,000 and RMB37,605,000 respectively as at 31 December 2024. | Group and Company, 31 December 2024 | PDF p. 46 |
| 2.2 Going concerns | These facts and circumstances indicate the existence of material uncertainties that may cast significant doubts over the ability of the Group and of the Company to continue as going concern. | Group and Company, FY2024 | PDF p. 55 |
Extracted from 2024 Annual Report – Shanghai Turbo Enterprises Ltd. and checked against the cited pages; see the original report for full context.
Group and parent company or bank figures are labelled separately. Parentheses indicate negative amounts; a dash and NA retain the report’s notation.
Comparative figures follow 2024 Annual Report – Shanghai Turbo Enterprises Ltd., including retrospective adjustments. Adjusted and reported earnings may have different definitions; refer to each statement’s notes.
These tables show the available extracted figures. The original annual report contains the full statements, notes and definitions.