Taotao Automobile Industry: Announcement on Changes in Accounting Policies
Securities code: 301345 Securities abbreviation: Taotao Vehicle Industry Announcement number: 2026-044 Zhejiang Taotao Vehicle Industry Co., Ltd.
Announcement on changes in accounting policies
The company and all members of the board of directors guarantee that the information disclosed is true, accurate and complete, and contains no false records, misleading statements or major omissions.
Zhejiang Taotao Vehicle Industry Co., Ltd. (hereinafter referred to as the "Company") changed its accounting policies in accordance with the requirements of the "Interpretation of Accounting Standards for Business Enterprises No. 20" (Cai Kuai [2026] No. 7) (hereinafter referred to as "Interpretation of Standards No. 20") promulgated by the Ministry of Finance of the People's Republic of China (hereinafter referred to as the "Ministry of Finance"). This change in accounting policy does not need to be submitted to the board of directors and shareholders' meeting for review. It will not have a significant impact on the company's financial status, operating results and cash flow, and does not involve retrospective adjustments from previous years. The specific changes are as follows:
1. Overview of changes in accounting policies
(1) Reasons for changes in accounting policies
On June 4, 2026, the Ministry of Finance promulgated "Standard Interpretation No. 20", which stipulates that "assessment of contractual cash flow characteristics of financial assets" and "accounting treatment and related disclosures when currency lacks convertibility" and other related contents will be effective from the date of promulgation. For new businesses stipulated in this interpretation from January 1, 2026 to the implementation date of this interpretation, enterprises should make adjustments according to this interpretation. According to the requirements of the above documents, the company made corresponding changes to the relevant contents of accounting policies.
(2) Accounting policies adopted before the change
Before this change in accounting policies, the company implemented the "Accounting Standards for Business Enterprises - Basic Standards" issued by the Ministry of Finance and various specific accounting standards, application guidelines for accounting standards for business enterprises, interpretation announcements of accounting standards for business enterprises and other relevant regulations.
(3) Accounting policies adopted after changes
After this accounting policy change, the company implemented it in accordance with the requirements of "Interpretation No. 20 of Accounting Standards for Business Enterprises". Other unchanged parts will still be implemented in accordance with the "Accounting Standards for Business Enterprises-Basic Standards" and related specific accounting standards, the Application Guidelines for Accounting Standards for Business Enterprises, the Interpretation Announcement of Accounting Standards for Business Enterprises and other relevant regulations promulgated by the Ministry of Finance in the previous period.
(4) Change date
According to the relevant requirements of the Ministry of Finance, the company will implement "Standard Interpretation No. 20" from January 1, 2026. This change in accounting policies will not have a significant impact on the company's financial status and operating results.
(5) Nature of changes in accounting policies
According to the "Shenzhen Stock Exchange GEM Stock Listing Rules" and other relevant regulations, the company's accounting policy change is a change in accounting policy in accordance with laws and regulations or the national unified accounting system, and this matter does not need to be submitted to the company's board of directors and shareholders' meeting for review.
2. The impact of this accounting policy change on the company
This change in accounting policy is a change made by the company in accordance with the relevant regulations and requirements of the Ministry of Finance, and is in compliance with relevant laws and regulations. The implementation of the changed accounting policy can more objectively and fairly reflect the company's financial status and operating results. This change in accounting policies will not have a significant impact on the company's financial status, operating results and cash flows. It does not involve retrospective adjustments from previous years, and will not harm the interests of the company and small and medium-sized shareholders.
Announcement is hereby made.
Board of Directors of Zhejiang Taotao Vehicle Industry Co., Ltd.
August 29, 2026