国新文化控股股份有限公司2025年年度报告编制及审计进展公告（含退市风险警示）

国新文化控股股份有限公司2025年年度报告编制及审计进展详细解读

一、公告要点综述

退市风险警示已实施：因2024年度经审计的利润总额、净利润、扣除非经常性损益后的净利润均为负值，且营业收入低于3亿元，公司股票已于2025年4月29日起被实施退市风险警示。
退市风险仍存：若2025年年度报告出现《上海证券交易所股票上市规则》第9.3.7条规定的情形，公司股票将可能被终止上市。投资者需高度关注后续年报及相关公告。
年度报告及审计工作进展：公司业务收入核查工作尚在进行，部分关键业务环节尚未核实，审计机构已发出风险提示，进一步核查或影响最终营业收入确认。

二、审计进展及关键影响事项

审计机构与公司沟通频繁：立信会计师事务所（特殊普通合伙）为公司2025年度财务报告及内部控制审计机构。审计机构已与董事会审计与风险委员会、独立董事、管理层沟通审计计划、范围、项目组成员、关键事项等。
审计程序尚未完成：目前已执行细节测试、代理商及集成商下游发货抽样、终端项目走访、函证、监盘等审计程序，但部分环节尚未核实完毕。例如：
- 代理商穿透检查中部分订单二级物流信息待核实。
- 部分项目公司所承担的具体责任尚未核实。
- 部分客户货物存放位置及终端用户信息待进一步核实。
这些未决事项可能导致公司部分收入不符合确认条件，或需扣除部分营业收入，进而影响2025年年度财务数据及审计意见类型。
审计重点：下一步审计工作将继续聚焦于营业收入确认，审计机构正在持续推进证据收集与复核，部分项目商业合理性仍需进一步判断。
重要时间节点：公司已于2025年4月24日、5月20日召开董事会及股东大会，审议通过续聘立信会计师事务所，并于2026年1月31日披露业绩预亏公告及相关审计意见说明。

三、对投资者的影响及风险提示

年报尚未最终定稿，重大不确定性高：由于审计程序未完成，2025年度最终财务数据及审计意见尚存重大不确定性。公司若最终无法满足上市规则要求，存在被终止上市的实质性风险。
代理业务及收入确认成焦点：对于代理商、集成商、终端项目等环节的收入真实性和商业合理性审计，若发现问题，或会对公司营收、利润等关键指标产生重大负面影响，进而影响股价。
信息披露合规提醒：公司承诺将持续推进年报编制与审计工作，保持与审计机构的沟通，并严格依规及时披露信息。投资者应以公司在上海证券交易所网站和指定媒体公告为准，理性投资，注意相关风险。

四、重要结论

国新文化控股股份有限公司正处于重大退市风险警示期，2025年年度报告的编制与审计结果对公司未来能否保壳至关重要。任何关于营业收入、审计意见的负面结果，均可能引发公司退市，造成股价剧烈波动。建议投资者密切关注公司后续公告及审计进展，充分评估投资风险，切勿盲目投资。

五、免责声明

本文仅为根据公司公告及审计进展整理的新闻解读，不构成任何投资建议。投资者据此操作，风险自担。请以公司在上海证券交易所网站及指定信息披露媒体发布的正式公告为准。

English Version
Detailed Analysis: Guoxin Culture Holdings 2025 Annual Report Preparation and Audit Progress

Detailed Analysis: Guoxin Culture Holdings 2025 Annual Report Preparation and Audit Progress

1. Key Points of the Announcement

Delisting Risk Warning in Effect: Due to negative audited profit, net profit, and net profit excluding non-recurring gains/losses for 2024, and revenue below RMB 300 million, the company’s stock has been under delisting risk warning since April 29, 2025.
Ongoing Delisting Risk: If the 2025 annual report triggers conditions specified in Article 9.3.7 of the Shanghai Stock Exchange Listing Rules, the stock may be delisted. Investors should pay close attention to future reports and notices.
Annual Report & Audit Progress: Revenue verification is still in progress. Some key business details remain unverified, and the audit firm has issued risk reminders. Further findings could affect ultimate revenue recognition.

2. Audit Progress and Key Issues Impacting Shareholders

Frequent Communication with Auditors: Lixin CPA LLP is the appointed auditor for 2025. The firm has communicated audit plans, scope, key team members, and issues with the Board, Audit Committee, and management.
Audit Procedures Incomplete: Procedures executed include detailed testing, agent and integrator downstream delivery sampling, end-project visits, confirmations, and inventory counts. However, key aspects are still unverified, such as:
- Secondary logistics information for some agent orders.
- Company’s specific responsibilities in certain projects.
- Storage location of some client goods and certain end-user information.
These pending matters may lead to revenue disqualification or deductions, impacting the 2025 financials and audit opinion.
Audit Focus Remains Revenue Recognition: Auditors are continuing to collect and verify external evidence; commercial rationality of some projects is still under review.
Key Timelines: The Board and shareholders approved the auditor’s reappointment in April and May 2025. The company released a loss warning and special audit explanation on January 31, 2026.

3. Impact and Risks for Investors

High Uncertainty in Final Results: With audit procedures incomplete, there is significant uncertainty in the final 2025 results and audit opinion. Failure to meet listing requirements could lead to delisting and drastic share price movement.
Revenue Recognition Under Spotlight: Issues in agent, integrator, and end-user segments could negatively affect reported revenue and profit, further impacting the share price.
Disclosure Compliance Reminder: The company pledges ongoing communication with auditors and timely regulatory disclosure. Investors should rely on official announcements and remain cautious.

4. Conclusion

Guoxin Culture Holdings faces a critical period under delisting risk warning. The results of the 2025 annual audit will determine whether the company can remain listed. Any negative findings regarding revenue or audit opinion may trigger delisting and share price volatility. Investors are strongly advised to monitor all official updates and assess risks carefully.

5. Disclaimer

This article is for news analysis only and does not constitute investment advice. Investors act at their own risk and should refer to official disclosures on the Shanghai Stock Exchange and designated media.