Shanghai Turbo FY2023 non-audit fees rise to RMB 6,000; internal auditor headcount drops to 6 staff due to voluntary wind-up in February 2025

Reuters03-25 18:08
Shanghai Turbo FY2023 non-audit fees rise to RMB 6,000; internal auditor headcount drops to 6 staff due to voluntary wind-up in February 2025
  • Shanghai Turbo said external auditors provided non-audit services, and the related service fee should have been RMB 6,000 after an error entry of RMB 0.
  • Changzhou Xinhuarui United Certified Public Accountants, previously engaged as internal auditors, had 6 staff with more than 20 years of total experience, and the IA Partner had no prior experience providing IA services to SGX-listed entities or similar companies.
  • For the audited results, non-current liability rose to RMB 668,000 from RMB 222,000, which management attributed to adjustments after prior period errors were identified.
  • Net cash used in operating activities fell to RMB (801,000) from RMB 650,000, while net cash used in investing activities dropped to RMB (2,426,000) from 0, with both variances linked to reclassifications.
  • Profit before tax climbed to RMB 7,149,000 from RMB (3,844,000), with an ECL write-back of RMB 5,256,000 cited.


Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Shanghai Turbo Enterprises Ltd. published the original content used to generate this news brief via Singapore Exchange Limited (SGX) (Ref. ID: T9W7KKMMIRE1MMWY) on March 25, 2026, and is solely responsible for the information contained therein.

At the request of the copyright holder, you need to log in to view this content

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment