Shanghai Yaoji Playing Card Co Ltd

Yaoji Technology's disclosed 2026 semi-annual report has been found by investors to mistakenly use materials from the 2025 annual report. According to a report by Dazhong Securities News, the statement on page 67 of the semi-annual report under the section 'Statement of Compliance with Accounting Standards for Business Enterprises' reads: 'truthfully and completely reflects the consolidated and parent company financial position as of December 31, 2025, as well as the consolidated and parent company operating results and cash flows for the year 2025,' while the page header is marked 'Shanghai Yaoji Technology Co., Ltd. 2026 Semi-Annual Report Full Text.' The reporting period for the 2026 semi-annual report should correspond to June 30, 2026, or the first half of 2026. In addition, the section 'Specific Accounting Policies and Accounting Estimates Reminders' not only fully retains the content regarding the implementation of the Q&A on the Financial Instruments Standards related to accounting treatment for standard warehouse receipt transactions, but also repeats the title row once more. A board secretary of a listed company believes this is a simple error left over from copying the annual report template, which could have been completely avoided if the review and verification mechanisms were sound. Upon further review, the reporter found that in April 2026, Yaoji Technology issued an announcement on the correction of prior accounting errors and retrospective adjustments, correcting prior accounting errors in operating revenue and operating costs in the annual reports from 2020 to 2023, with cumulative reductions in operating revenue and operating costs of approximately 2.1 billion yuan. The reason was that the company had a judgment deviation regarding whether the net method or gross method should be used to recognize revenue for its internet marketing business. The board secretary stated that this correction involving core financial data for four consecutive years is far more serious than a textual error, and may simultaneously trigger deductions for 'questionable authenticity of financial information' and 'multiple supplementary corrections.' As of press time, Yaoji Technology has not provided any response to the reporter's written interview request.

Yaoji Technology released its 2026 interim report. During the reporting period, the company's total operating revenue was 1.322 billion yuan, down 8.07% from the same period last year. Net profit attributable to the parent company was 216 million yuan, down 15.51% year-on-year. Net cash inflow from operating activities was 133 million yuan, down 36.69% year-on-year. The company's latest asset-liability ratio was 27.74%, gross margin was 40.90%, down 3.75 percentage points from the same period last year, and return on equity was 5.65%, down 1.44 percentage points year-on-year. Diluted earnings per share were 0.52 yuan, down 16.23% year-on-year. Total asset turnover was 0.25 times and inventory turnover was 1.47 times, both lower than the same period last year. The company had 52,400 shareholders, and the top ten shareholders held 51.97% of the total share capital.