Jiangsu Lopal Tech. Group Co., Ltd. (2465) has approved retrospective adjustments to its financial statements arising from the consolidation of enterprises under common control. The adjustments, discussed and endorsed at the 44th meeting of the fourth session of the board on October 30, 2025, relate to the Company’s acquisition of Shandong Meiduo Technology Company Limited (Shandong Meiduo), completed on January 21, 2025.

According to the announcement, the purchase of Shandong Meiduo at RMB100.54 million in cash, followed by a RMB50 million capital increase, constituted a business combination under common control. Both companies share the same ultimate controlling shareholder, and therefore retrospective restatement was necessary. The adjustments impact the 2024 consolidated balance sheet, income statement, and statement of cash flows—presenting Shandong Meiduo’s financial results as if it had been a subsidiary since the outset.

The board emphasizes that the retrospective revisions align with Accounting Standards for Business Enterprises and accurately reflect the Company’s financial position and operating performance. The audit committee supports this approach, noting it is consistent with relevant regulations and does not compromise shareholders’ interests. The revised financial figures will be applied to ensure clarity and consistency in the Company’s past and ongoing financial disclosures.