外Waitan LudiCHINA POLICY · IMPLEMENTATION EVIDENCE
DIRECTION X Research edition
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READ THE ECONOMIC MEANING

Cash is not income.
A balance is not a flow.

Inspect three distinct grant measures in selected company filings. Keep the reporting entity, accounting scope and period attached to every number.

01

Cash receipts

Government-grant cash reported in the period. It is not automatically attributable to a particular administrative award.

02

Recognised income

Grants recognised under the reporting policy. Recognition can relate to cash received in another period.

03

Deferred balance

A stock at the reporting date. It is not that period’s income or an amount still owed by the government.

Company-reported financial measures, not a government-award-to-bank-receipt match. Consolidated groups, periods, stocks and flows remain separate. Interim reports are unaudited.

Bars share a scale within each issuer-period panel only. They illustrate different measures, not additive components or a cross-firm funding ranking.

2025-01-01 / 2025-06-30

宁波海天精工股份有限公司

Consolidated reporting group

Reported issuer USCC
91330200736960784B

Open firm profile ↗
Government-grant cash receipts21,595,248.01 CNYS33 · PDF page 142 Inspect source excerpt +
关的现金收到的其他与经营活动有关的现金√适用 □不适用项目存款利息收入政府补助资金往来收到的现金其他合计 本期发生额1,534,719.3121,595,248.012,712,243.742,907,946.0628,750,157.12 单位:元币种:人民币上期发生额7,281,279.8736,760,277.5419

Company-reported accounting measure; no government award or bank confirmation matched. Not an additional subsidy to add to other rows.

Evidence status: single_source_company_report. Identity is reported in filings, not independently retrieved registry confirmation.

Read source S33 ↗Download original ↓
Source fingerprint5109ac4dd505e6275eccaa8499b29b36a7f1cd3009fe3221d49f5fb74205c3c6
Grants recognised in income40,703,737.74 CNYS33 · PDF page 153 Inspect source excerpt +
3、计入当期损益的政府补助√适用 □不适用单位:元类型与资产相关与收益相关合计 本期发生额5,759,585.7034,944,152.0440,703,737.74153 / 184 币种:人民币 上期发生额5,250,979.9054,208,720.2359,459,700.13 宁波海天精工股份有限公司2025年半年

Company-reported accounting measure; no government award or bank confirmation matched. Not an additional subsidy to add to other rows.

Evidence status: single_source_company_report. Identity is reported in filings, not independently retrieved registry confirmation.

Read source S33 ↗Download original ↓
Source fingerprint5109ac4dd505e6275eccaa8499b29b36a7f1cd3009fe3221d49f5fb74205c3c6
Deferred grants at period end55,705,361.28 CNYS33 · PDF page 153 Inspect source excerpt +
337,748.191,923,254,391.73 七(47) 5,641,893.23 七(50)七(51) 45,894,381.1155,705,361.2836 / 184 47,163,960.3861,268,988.22 宁波海天精工股份有限公司2025年半年度报告 递延所得税负债其他非流动负债非流动负债合计

Company-reported accounting measure; no government award or bank confirmation matched. Not an additional subsidy to add to other rows.

Evidence status: single_source_company_report. Identity is reported in filings, not independently retrieved registry confirmation.

Read source S33 ↗Download original ↓
Source fingerprint5109ac4dd505e6275eccaa8499b29b36a7f1cd3009fe3221d49f5fb74205c3c6

2024-01-01 / 2024-12-31

科德数控股份有限公司

Consolidated reporting group

Reported issuer USCC
91210200669220902M

Open firm profile ↗
Government-grant cash receipts58,917,401.44 CNYS32 · PDF page 249 Inspect source excerpt +
的现金收到的其他与经营活动有关的现金√适用 □不适用单位:元币种:人民币本期发生额上期发生额6,115,135.862,595,182.0358,917,401.4411,410,680.362,989,138.113,040,381.323,089,129.65443,506.601,425,516.231,150,642

Company-reported accounting measure; no government award or bank confirmation matched. Not an additional subsidy to add to other rows.

Evidence status: single_source_company_report. Identity is reported in filings, not independently retrieved registry confirmation.

Read source S32 ↗Download original ↓
Source fingerprint80ab297fab11d27fdc3cee60ad3995988c1d7cb4d858c1984de193982772af1e
Grants recognised in income12,836,765.92 CNYS32 · PDF page 258 Inspect source excerpt +
3、计入当期损益的政府补助√适用 □不适用单位:元类型与资产相关与收益相关合计 本期发生额11,116,809.051,719,956.8712,836,765.92 币种:人民币 上期发生额38,243,635.231,895,368.0340,139,003.26 其他说明: 无 十二、与金融工具相关的风险 1、金融工具

Company-reported accounting measure; no government award or bank confirmation matched. Not an additional subsidy to add to other rows.

Evidence status: single_source_company_report. Identity is reported in filings, not independently retrieved registry confirmation.

Read source S32 ↗Download original ↓
Source fingerprint80ab297fab11d27fdc3cee60ad3995988c1d7cb4d858c1984de193982772af1e
Deferred grants at period end86,090,242.13 CNYS32 · PDF page 258 Inspect source excerpt +
89.585,357,946.49283,952,354.00 1,023,097.91 6,877,795.97 3,777,476.3786,090,242.13 3,688,570.3466,946,851.18 3,061,967.3593,952,783.76428,743,790.85 4,790,846.748

Company-reported accounting measure; no government award or bank confirmation matched. Not an additional subsidy to add to other rows.

Evidence status: single_source_company_report. Identity is reported in filings, not independently retrieved registry confirmation.

Read source S32 ↗Download original ↓
Source fingerprint80ab297fab11d27fdc3cee60ad3995988c1d7cb4d858c1984de193982772af1e

2025-01-01 / 2025-06-30

科德数控股份有限公司

Consolidated reporting group

Reported issuer USCC
91210200669220902M

Open firm profile ↗
Government-grant cash receipts61,582,976.63 CNYS72 · PDF page 188 Inspect source excerpt +
利息收入投标、履约保证金单位及个人往来政府补助代收款项其他 本期发生额896,644.0914,879,044.552,509,437.8061,582,976.6323,922,000.00122,292.51188 / 220 单位:元币种:人民币上期发生额1,517,074.454,047,150.711,354,72

Company-reported accounting measure; no government award or bank confirmation matched. Not an additional subsidy to add to other rows.

Evidence status: single_source_company_report. Identity is reported in filings, not independently retrieved registry confirmation.

Read source S72 ↗Download original ↓
Source fingerprint37cf9bb5585b0303f983a5ce71a556f68c49ef038631dc884acc208b9b56d4a8
Grants recognised in income13,751,792.54 CNYS72 · PDF page 197 Inspect source excerpt +
/ 3、计入当期损益的政府补助√适用 □不适用单位:元类型与资产相关与收益相关合计 本期发生额12,977,282.53774,510.0113,751,792.54 币种:人民币 上期发生额9,540,827.60824,139.5210,364,967.12 其他说明: 与资产相关的政府补助计入当期损益的金额,为公司在报

Company-reported accounting measure; no government award or bank confirmation matched. Not an additional subsidy to add to other rows.

Evidence status: single_source_company_report. Identity is reported in filings, not independently retrieved registry confirmation.

Read source S72 ↗Download original ↓
Source fingerprint37cf9bb5585b0303f983a5ce71a556f68c49ef038631dc884acc208b9b56d4a8
Deferred grants at period end77,901,621.70 CNYS72 · PDF page 197 Inspect source excerpt +
.77 1,023,097.91 科德数控股份有限公司2025年半年度报告 预计负债1,478,110.583,777,476.37递延收益77,901,621.7086,090,242.13递延所得税负债其他非流动负债2,558,613.373,061,967.35非流动负债合计82,285,107.4293,952,78

Company-reported accounting measure; no government award or bank confirmation matched. Not an additional subsidy to add to other rows.

Evidence status: single_source_company_report. Identity is reported in filings, not independently retrieved registry confirmation.

Read source S72 ↗Download original ↓
Source fingerprint37cf9bb5585b0303f983a5ce71a556f68c49ef038631dc884acc208b9b56d4a8

ACCOUNTING CONTROLS

Checks, not independent confirmation.

11 recorded checks · 39 financial observations

These are the existing recorded reconciliation results. They are not re-audited company accounts. Exact arithmetic does not validate the economic interpretation of an inferred bridge.

海天 2025 H1 grant income recognition

40,703,737.74 yuan = 40,703,737.74 yuan; arithmetic reconciles.

Arithmetic check within issuer-reported data; not independent government or bank confirmation, and not a new grant amount. Recognition is not current-period cash receipt.

Method: asset-related + revenue-related = recognised total · ht25h1_recognition
海天 closing balance repeated in two notes

55,705,361.28 yuan = 55,705,361.28 yuan; arithmetic reconciles.

Same source repeated figure, not an independent corroboration or additional amount.

Method: cross-note consistency, PDF pp.131 and 153 · ht_crossnote
海天 netted-asset amount and grant recognition difference

817,846.32 yuan = 817,846.32 yuan; arithmetic reconciles.

Derived arithmetic bridge consistent with net presentation and stated accounting policy (PDF p.81). It does not independently establish the economic benefit or prove every component classification.

Method: opening - closing netted-asset tax difference = recognised asset grants - deferred asset release · ht_netting_consistency
海天 recognition total bridges across statement categories

40,703,737.74 yuan = 40,703,737.74 yuan; arithmetic reconciles.

Numerical bridge, not a publisher-supplied classification schedule. Mixed tax/fee returns remain mixed and the netting interpretation remains an inference. Do not sum this bridge with its component observations.

Method: other-income grants + nonoperating grants + VAT categories + derived netted-asset difference = recognised grants · ht_recognition_bridge
海天 2025 H1 deferred grant roll-forward

55,705,361.28 yuan = 55,705,361.28 yuan; arithmetic reconciles.

Arithmetic check within issuer-reported data; not independent government or bank confirmation, and not a new grant amount.

Method: opening + additions - reductions = closing · ht_rollforward
科德 FY2024 grant income recognition

12,836,765.92 yuan = 12,836,765.92 yuan; arithmetic reconciles.

Arithmetic check within issuer-reported data; not independent government or bank confirmation, and not a new grant amount. Recognition is not current-period cash receipt.

Method: asset-related + revenue-related = recognised total · kd24_recognition
科德 FY2024 deferred grant roll-forward

86,090,242.13 yuan = 86,090,242.13 yuan; arithmetic reconciles.

Arithmetic check within issuer-reported data; not independent government or bank confirmation, and not a new grant amount.

Method: opening + additions + signed movement = closing · kd24_rollforward
科德 2025 H1 deferred grant roll-forward

77,901,621.70 yuan = 77,901,621.70 yuan; arithmetic reconciles.

Arithmetic check within issuer-reported data; not independent government or bank confirmation, and not a new grant amount. Large other movements cannot be called cash recoveries without their detailed schedule.

Method: opening + additions - transfer + signed other movement = closing · kd25_rollforward
科德 2025 H1 grant income recognition

13,751,792.54 yuan = 13,751,792.54 yuan; arithmetic reconciles.

Arithmetic check within issuer-reported data; not independent government or bank confirmation, and not a new grant amount. Recognition is not current-period cash receipt.

Method: asset-related + revenue-related = recognised total · kd25h1_recognition
科德 FY2024 closing equals 2025 H1 opening

86,090,242.13 yuan = 86,090,242.13 yuan; arithmetic reconciles.

Cross-document corroboration within the same issuer family, not independent evidence of a specific award or receipt.

Method: same issuer and unit; consecutive period balance continuity · kd_continuity
科德 announcement national + provincial gross receipts

69,090,000.00 yuan = 69,090,000.00 yuan; arithmetic reconciles.

Arithmetic check within issuer-reported data; not independent government or bank confirmation, and not a new grant amount. The issuer-attributable amount is a separate scope, not another addend.

Method: national + provincial = gross · kd_notice_total

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