Basis for the Auditor's opinion
The Auditor conducted its audit in accordance with Hong Kong Standards on Auditing ("HKSAs") issued by the Hong Kong Institute of Certified Public Accountants ("HKICPA"). The Auditor is independent of the Group in accordance with the HKICPA's Code of Ethics for Professional Accountants (the "Code"), and it has fulfilled other ethical responsibilities in accordance with the Code. The Auditor believes that the audit evidence it has obtained is sufficient and appropriate to provide a basis for its opinion.
Material uncertainty related to going concern
The Auditor has noted that the Group had net current liabilities of approximately RMB888,372,000 as at 31 December 2018 and incurred a loss of RMB672,227,000 for the year then ended. These conditions, along with other matters as set forth in the 2018 Annual Report, indicate the existence of material uncertainties which may cast significant doubt about the Group's ability to continue as a going concern. Our opinion is not modified in respect of this matter.
Save as disclosed above, all other information in the Announcement remains the same.
By order of the Board
China Singyes Solar Technologies Holdings Limited
Hong Kong, 18 August 2019
As at the date of this announcement, the executive Directors are Mr. Liu Hongwei (Chairman), Mr. Xie Wen and Mr. Xiong Shi, the non-executive Directors are Dr. Li Hong and Mr. Zhuo Jianming, and the independent non-executive Directors are Dr. Wang Ching, Mr. Yick Wing Fat, Simon and Dr. Tan Hongwei.