现代汽车公司及其子公司合并财务报表

CONSOLIDATED FINANCIAL STATEMENTSFOR EACH OF THE TWO YEARS IN THE PERIOD ENDEDDECEMBER 31, 2024ATTACHMENT: INDEPENDENT AUDITORS’ REPORT Contents INDEPENDENT AUDITOR’S REPORT----------------------------------------------------------------1CONSOLIDATED FINANCIAL STATEMENTSCONSOLIDATED STATEMENTS OF FINANCIAL POSITION-----------------------------------6CONSOLIDATED STATEMENTS OF INCOME------------------------------------------------------8CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME---------------------------9CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY------------------------------------10CONSOLIDATED STATEMENTS OF CASH FLOWS-----------------------------------------------12NOTES TOTHE CONSOLIDATED FINANCIAL STATEMENTS---------------------------------14AUDIT OPINIONONCONSOLIDATEDINTERNAL CONTROLOVER FINANCIAL REPORTING---------------------------------------------------------------------106 Independent auditor’s report(Englishtranslation of areportoriginallyissued in Korean) TheShareholders and Board of DirectorsHyundai Motor Company Opinion We have audited the consolidated financial statements of Hyundai Motor Company and its subsidiaries(collectively referred to as the “Group”), which comprise the consolidated statements offinancial position as ofDecember 31,2024 and 2023, and the consolidated statements of income, consolidated statements ofcomprehensive income, consolidated statements of changes in equity and consolidated statements of cashflowsfor each of the two years in the period ended December 31, 2024, and the notes to theconsolidatedfinancial statements, including material accounting policy information. In our opinion, theaccompanyingconsolidated financial statements present fairly, in all material respects,theconsolidated financial position of the Group as of December 31,2024 and2023, and its consolidated financialperformance and its consolidated cash flowsfor each of the two years in the period ended December 31, 2024,in accordance with InternationalFinancial Reporting Standards as adopted by the Republic of Korea (“KIFRS”). We have audited the Group’s internal control over financial reporting (“ICFR”)for consolidation purposesas ofDecember 31, 2024 based on theConceptual Framework for Design andOperation of ICFRestablished bythe Operating Committee of ICFR in Korea, in accordance with Korean Standards on Auditing (“KSA”),and ourreport datedMarch5, 2025expressedan unqualified opinion thereon. Basis foropinion We conducted our audit inaccordance with KSA. Our responsibilities under those standards are furtherdescribed in the Auditor’s responsibilities for the audit of the consolidated financial statements section of ourreport. We are independent of the Group in accordance with the ethical requirements that are relevant to ouraudit of the consolidated financial statements in the Republic of Korea, and we have fulfilled our other ethicalresponsibilities in accordance with these requirements. We believe that the audit evidence we have obtainedis sufficient and appropriate to provide a basis for our opinion. Keyauditmatters Key audit matters are those matters that, in our professional judgment, were of most significance in our auditof the consolidated financial statements of the current period. These matters were addressed in the context ofour audit of the consolidated financial statements as a whole, and in forming our opinion thereon, and we donot provide a separate opinion on these matters. For each matter below, our description of how our auditaddressed the matter is provided in that context. 1)Valuation of sales warranty provisions As described in Note 2.(20) to the consolidated financial statements, the Group provides free warranty servicesto customers duringtheguaranteed period after the sale ofavehicle and also in the event of a recall orcampaign due to quality issues. As of December 31, 2024, the Group has recognized a total of￦9,567,739million in sales warranty provisions, including provisionsfor the obligation to provide free warranty services(Note 16). When estimating the balance of provisions for the obligation to provide free repairs, the Group uses historicaldata such as sales volume by vehicle type and past repair expenses that occurred from warranty services, andassumptions suchas expected increase rate of unit repair price and expected free repair occurrence rate. Theunderlyingdata collected and aggregated in the process is vast and complex, and the managementassumptionsappliedare highly subjective and uncertainandit is highly probable thatany errors thereinmaycausematerialmisstatement inthe Group’s consolidated financial statements. Therefore, we selected thevaluation of thesales warranty provisionsas a key audit matter. -Evaluating whether control activities to measure and recognize the sales warranty provisionsare properlydesigned and operated;-Evaluatingwhether general control and automatic control of the IT system that aggregates historical saleswarranty data are