证券代码：603015 证券简称：弘讯科技 公告编号：2025-030 宁波弘讯科技股份有限公司 关于召开2025年第一次临时股东大会的通知 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 一、 召开会议的基本情况 (四)现场会议召开的日期、时间和地点 召开的日期时间：2025 年 9 月 11 日 14 点 00 分 召开地点：浙江省宁波市北仑区大港五路 88 号办公室二楼会议室 股东大会召开日期：2025年9月11日 本次股东大会采用的网络投票系统：上海证券交易所股东大会网络投票 系统 (一)股东大会类型和届次 2025年第一次临时股东大会 (二)股东大会召集人：董事会 (三)投票方式：本次股东大会所采用的表决方式是现场投票和网络投票相结合的 方式 (五)网络投票的系统、起止日期和投票时间。 网络投票系统：上海证券交易所股东大会网络投票系统 网络投票起止时间：自2025 年 9 月 11 日 至2025 年 9 月 11 日 采用上海证券交易所网络投票系统，通过交易系统投票平台的投票时间为股 东大会召开当日 ...

证券代码：603015 证券简称：弘讯科技 公告编号：2025-028 宁波弘讯科技股份有限公司 第五届监事会 2025 年第二次会议决议公告 本公司监事会及全体监事保证本公告内容不存在任何虚假记载、误导性陈述或者重大 遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 表决结果：同意3票，反对0票，弃权0票。 监事会对公司《2025年半年度报告》全文及摘要进行审阅，认为公司《2025年半年度 报告》的编制和审议程序符合法律、法规、公司章程和公司内部管理制度的各项规定；报 告内容真实、准确、完整地反映了报告期内的公司经营管理和财务信息等实际情况。公司 监事会在提出本意见前，未发现参与定期报告编制和审议的人员有违反保密规定的行为。 同意本议案提交公司2025年第一次临时股东大会审议。具体内容详见披露于上海证券交易 所网站（www.sse.com.cn）的《2025年半年度报告》、《2025年半年度报告摘要》。 本议案需提交公司股东大会审议。 2. 审议通过《关于取消监事会及废止<监事会议事规则>的议案》; 表决结果：同意3票，反对0票，弃权0票。 为进一步完善公司治理，根据最新修订的《中华人民共和国公司法》 ...

证券代码：603015 证券简称：弘讯科技 公告编号：2025-027 1. 审议通过《关于公司2025年半年度报告全文及摘要的议案》。 本议案已事先经公司第五届董事会审计委员会 2025 年第四次会议审议通过，并同 意将此项议案提交公司董事会审议。具体内容详见披露于上海证券交易所网站 （www.sse.com.cn）的《2025 年半年度报告》、《2025 年半年度报告摘要》。 表决结果：同意 9 票，反对 0 票，弃权 0 票。 宁波弘讯科技股份有限公司 第五届董事会 2025 年第二次会议决议公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重大 遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 一、 董事会会议召开情况 2025年8月22日，宁波弘讯科技股份有限公司（以下简称"本公司"或者"公司"）第五届 董事会2025年第二次会议以现场结合通讯方式在公司二楼会议室召开。本次应到董事9人， 实到董事9人，会议由董事长熊钰麟先生主持，公司监事和高级管理人员列席了会议。本 次会议通知于2025年8月12日以电子邮件形式发出，会议的召开符合《中华人民共和国公 司法》、《公司章 ...

[Section I Definitions](index=4&type=section&id=Section%20I%20Definitions) [Definitions of Common Terms](index=4&type=section&id=Definitions%20of%20Common%20Terms) This section defines common terms used in the report, clarifying key entities such as "the Company," "Hongxun Software Company," "Italian EEI Company," and important time concepts like the reporting period, laying the foundation for understanding the report content - Reporting period defined as **January 1, 2025, to June 30, 2025**[15](index=15&type=chunk) Major Affiliated Companies and Relationships | Common Term | Definition | | :--- | :--- | | The Company, Company | Ningbo Hongxun Technology Co., Ltd | | Hongxun Software Company | Wholly-owned subsidiary of the Company | | Italian HDT Company | Controlling subsidiary of TECH EURO S.a.r.l | | Italian EEI Company | Controlling subsidiary of TECH EURO S.a.r.l | | RED Company | Controlling shareholder of the Company | [Section II Company Profile and Key Financial Indicators](index=5&type=section&id=Section%20II%20Company%20Profile%20and%20Key%20Financial%20Indicators) [I. Company Information](index=5&type=section&id=I.%20Company%20Information) This section outlines the company's basic registration information, including its Chinese name, abbreviation, foreign name, and legal representative, confirming its stock listing on the Shanghai Stock Exchange - Company's Chinese name is 宁波弘讯科技股份有限公司, abbreviated as **弘讯科技**[17](index=17&type=chunk) - Company's legal representative is **熊钰麟**[17](index=17&type=chunk) - Company's A-shares are listed on the Shanghai Stock Exchange, stock code **603015**[21](index=21&type=chunk) [II. Contact Persons and Information](index=5&type=section&id=II.%20Contact%20Persons%20and%20Information) This section provides contact details for the company's Board Secretary and Securities Affairs Representative, including names, addresses, phone numbers, faxes, and email addresses, facilitating communication for investors and relevant parties - Board Secretary is **郑琴**, Securities Affairs Representative is **刘沸艳**[18](index=18&type=chunk) - Company contact address is **宁波市北仑区大港五路88号**[18](index=18&type=chunk) [III. Overview of Changes in Basic Information](index=5&type=section&id=III.%20Overview%20of%20Changes%20in%20Basic%20Information) This section states that the company's registered and office addresses have not changed and provides the company's website and email address - Company's registered and office addresses are both **浙江省宁波市北仑区大港五路88号**, with no historical changes during the reporting period[19](index=19&type=chunk) [IV. Overview of Changes in Information Disclosure and Document Custody Locations](index=5&type=section&id=IV.%20Overview%20of%20Changes%20in%20Information%20Disclosure%20and%20Document%20Custody%20Locations) This section discloses the company's designated information disclosure newspaper, the website for the semi-annual report, and the report's custody location, confirming no changes during the reporting period - Company's designated information disclosure newspaper is **《上海证券报》**, and the report is published on **http://www.sse.com.cn/**[20](index=20&type=chunk) [V. Company Stock Overview](index=5&type=section&id=V.%20Company%20Stock%20Overview) This section provides basic information about the company's stock, including stock type, listing exchange, stock abbreviation, and code, confirming no prior changes to the stock abbreviation - Company's stock is **A-shares**, listed on the Shanghai Stock Exchange, stock abbreviation **弘讯科技**, stock code **603015**[21](index=21&type=chunk) [VII. Key Accounting Data and Financial Indicators](index=6&type=section&id=VII.%20Key%20Accounting%20Data%20and%20Financial%20Indicators) This section presents the company's key accounting data and financial indicators for the first half of 2025, showing stable operating revenue but a **21.48%** year-on-year decrease in net profit attributable to shareholders due to increased exchange losses from the appreciation of the New Taiwan Dollar Key Accounting Data (Jan-Jun 2025 vs. Prior Year Period) | Key Accounting Data | Current Period (Jan-Jun) | Prior Year Period | Change from Prior Year Period (%) | | :--- | :--- | :--- | :--- | | Operating Revenue | 435,984,964.57 yuan | 431,518,392.39 yuan | 1.04 | | Total Profit | 29,707,344.35 yuan | 40,202,810.32 yuan | -26.11 | | Net Profit Attributable to Listed Company Shareholders | 28,229,582.22 yuan | 35,950,379.33 yuan | -21.48 | | Net Profit Attributable to Listed Company Shareholders After Non-Recurring Gains and Losses | 23,619,379.42 yuan | 40,225,502.40 yuan | -41.28 | | Net Cash Flow from Operating Activities | 11,784,186.65 yuan | 27,514,659.58 yuan | -57.17 | Key Financial Indicators (Jan-Jun 2025 vs. Prior Year Period) | Key Financial Indicators | Current Period (Jan-Jun) | Prior Year Period | Change from Prior Year Period (%) | | :--- | :--- | :--- | :--- | | Basic Earnings Per Share (yuan/share) | 0.07 | 0.09 | -22.22 | | Diluted Earnings Per Share (yuan/share) | 0.07 | 0.09 | -22.22 | | Basic Earnings Per Share After Non-Recurring Gains and Losses (yuan/share) | 0.06 | 0.10 | -40.00 | | Weighted Average Return on Net Assets (%) | 2.00 | 2.61 | Decrease of 0.61 percentage points | | Weighted Average Return on Net Assets After Non-Recurring Gains and Losses (%) | 1.68 | 2.92 | Decrease of 1.24 percentage points | - Net profit attributable to shareholders decreased by **21.48%**, primarily due to increased exchange losses from the appreciation of the New Taiwan Dollar[23](index=23&type=chunk) [IX. Non-Recurring Gains and Losses Items and Amounts](index=6&type=section&id=IX.%20Non-Recurring%20Gains%20and%20Losses%20Items%20and%20Amounts) This section details the company's non-recurring gains and losses items and their amounts for the reporting period, totaling **4,610,202.80 yuan**, mainly comprising government subsidies and fair value changes in financial assets Non-Recurring Gains and Losses Items and Amounts | Non-Recurring Gains and Losses Item | Amount (yuan) | | :--- | :--- | | Gains or losses from disposal of non-current assets | -43,123.35 | | Government grants recognized in current profit or loss | 4,242,622.53 | | Gains or losses from changes in fair value of financial assets and liabilities held by non-financial enterprises, and from disposal of financial assets and liabilities | 1,123,585.26 | | Other non-operating income and expenses | 99,721.97 | | Less: Income tax impact | 787,031.12 | | Minority interest impact (after tax) | 25,572.49 | | Total | 4,610,202.80 | [Section III Management Discussion and Analysis](index=8&type=section&id=Section%20III%20Management%20Discussion%20and%20Analysis) [I. Description of the Company's Industry and Main Business Operations During the Reporting Period](index=8&type=section&id=I.%20Description%20of%20the%20Company's%20Industry%20and%20Main%20Business%20Operations%20During%20the%20Reporting%20Period) This section elaborates on the industry background, policy drivers, and the company's core products and applications across its three major business segments: industrial automation, digitalization, and new energy, highlighting the broad development prospects driven by policy support in each sector - Company's three major business segments are primarily in **industrial automation, digitalization, and new energy** industries[29](index=29&type=chunk) - Industrial automation sector benefits from China's manufacturing transformation and upgrading policies, offering vast market potential and significant opportunities for domestic brand substitution of imports[30](index=30&type=chunk)[31](index=31&type=chunk)[32](index=32&type=chunk) - Industrial Internet sector, guided by national policies, focuses on industrial software and the integration of informatization and industrialization, with demand side expected to be further boosted[33](index=33&type=chunk)[34](index=34&type=chunk)[35](index=35&type=chunk) - New energy sector, under the guidance of EU and Italian government policies, sees rapid development in renewable energy, EV charging infrastructure, and green hydrogen, with nuclear fusion technology transitioning from laboratory to industrialization[39](index=39&type=chunk)[40](index=40&type=chunk)[41](index=41&type=chunk)[42](index=42&type=chunk)[43](index=43&type=chunk)[44](index=44&type=chunk)[45](index=45&type=chunk) [(I) Industry Overview During the Reporting Period](index=8&type=section&id=(I)%20Industry%20Overview%20During%20the%20Reporting%20Period) This subsection analyzes the development trends and market opportunities in the industrial automation, industrial internet, plastic machinery and injection molding, and new energy sectors, driven by policy, indicating promising prospects for technological upgrades and market expansion across all industries - Industrial automation industry is driven by China's manufacturing transformation and upgrading policies, with continuous market expansion and significant potential for domestic brands to replace imports[30](index=30&type=chunk)[31](index=31&type=chunk)[32](index=32&type=chunk) - Industrial Internet industry, propelled by policies like "Made in China 2025," emphasizes industrial software and the integration of informatization and industrialization, accelerating digital transformation in manufacturing[33](index=33&type=chunk)[34](index=34&type=chunk)[35](index=35&type=chunk) - Plastic machinery and injection molding industry benefits from 3C consumer electronics, medical consumables, lightweighting for new energy vehicles, and appliance trade-in policies, with high-end, precision, and energy-efficient solutions becoming mainstream trends[36](index=36&type=chunk)[37](index=37&type=chunk)[38](index=38&type=chunk) - New energy sector, under global carbon neutrality goals, sees active promotion of renewable energy, electric vehicles, and green hydrogen by EU and Italian governments, with nuclear fusion technology also receiving substantial funding and accelerating commercialization[39](index=39&type=chunk)[40](index=40&type=chunk)[41](index=41&type=chunk)[42](index=42&type=chunk)[43](index=43&type=chunk)[44](index=44&type=chunk)[45](index=45&type=chunk) [(II) Description of the Company's Main Business Operations During the Reporting Period](index=11&type=section&id=(II)%20Description%20of%20the%20Company's%20Main%20Business%20Operations%20During%20the%20Reporting%20Period) This subsection details Hongxun Technology's specific product categories, segmented applications, and technological advantages across its three major business segments—automation, digitalization, and new energy—highlighting the company's leading position in injection molding control systems, industrial IoT platforms, and new energy power solutions - Company's industrial control products include plastic machinery control systems and metal machinery control systems, with **injection molding control systems holding the top market share in China**[48](index=48&type=chunk) - Drive system products are applied in plastic machinery, sheet metal processing machinery, etc., with **high-end all-electric servo system assembly technology leading domestically**[48](index=48&type=chunk)[49](index=49&type=chunk) - Digitalization business segment offers **tmIoT IoT cloud platform, TPD data middle platform for rubber and plastic industry, TTD general industrial data middle platform, and digital factory solution Hongsu Cloud (TPC)**[50](index=50&type=chunk)[51](index=51&type=chunk)[52](index=52&type=chunk) - New energy segment includes Power Solutions Business (PSB) and Energy Storage Business (ESB), applied in **nuclear fusion, cancer treatment, photovoltaic and wind power, shore power energy storage** and other fields[53](index=53&type=chunk)[54](index=54&type=chunk) [II. Discussion and Analysis of Operations](index=14&type=section&id=II.%20Discussion%20and%20Analysis%20of%20Operations) In the first half of 2025, the company's operating revenue remained largely stable, but net profit attributable to the parent company declined by **21%** year-on-year due to the appreciation of the New Taiwan Dollar. Business segments progressed steadily, with the automation sector securing its supply chain and expanding into metal processing; digitalization optimizing products and extending into smart agriculture; and the new energy business growing by **16%**, achieving significant milestones in energy storage and nuclear fusion projects - In the first half of 2025, the company achieved operating revenue of **436 million yuan**, largely stable compared to the same period last year[56](index=56&type=chunk) - Net profit attributable to shareholders decreased by **21%** year-on-year, primarily due to increased exchange losses from the appreciation of the New Taiwan Dollar[56](index=56&type=chunk) - Automation segment revenue remained largely stable, with deep cooperation with Taiwanese chip design companies to secure the supply chain and successful breakthroughs in high-end CNC machine tools core technology[57](index=57&type=chunk)[58](index=58&type=chunk) - Digitalization business segment continued to optimize tmIoT IoT cloud platform and Hongsu Cloud (TPC), successfully expanding into smart agriculture applications[60](index=60&type=chunk)[61](index=61&type=chunk)[62](index=62&type=chunk) - New energy business segment (Italian subsidiary EEI) operating revenue increased by **16%** year-on-year, achieving significant progress in energy storage product certification, shore power systems for ships, and nuclear fusion projects (e.g., DTT high-precision power system orders)[63](index=63&type=chunk)[64](index=64&type=chunk)[65](index=65&type=chunk) [III. Analysis of Core Competencies During the Reporting Period](index=16&type=section&id=III.%20Analysis%20of%20Core%20Competencies%20During%20the%20Reporting%20Period) The company's core competencies lie in its robust R&D system, diverse product portfolio, high-quality customer base, and comprehensive service network. High R&D investment and global R&D布局 ensure technological leadership, systematic solutions meet customized needs, long-term partnerships with leading customers solidify market position, and an extensive service network guarantees efficient response - The company has R&D and product application departments in Taiwan, Shanghai, Ningbo, Xi'an, Foshan, and Italy, with R&D personnel accounting for **45.20%** of total employees, and R&D investment in 2024 accounting for **7.72%** of operating revenue[68](index=68&type=chunk) - In industrial automation, it provides integrated solutions of **"Sandal all-digital control system + high-speed bus communication module + industrial internet platform + edge server,"** as well as high-performance iREX flagship systems[70](index=70&type=chunk) - In new energy, it offers integrated energy solutions covering DC/DC, AC/DC power modules, inverters, BMS, and EMS, and possesses capabilities for customized magnet power systems in nuclear fusion and nuclear physics medical fields[71](index=71&type=chunk) - The company has been deeply rooted in the plastic machinery industry for forty years, maintaining stable cooperation with approximately **60%** of China's leading plastic machinery enterprises, with its injection molding machine control systems holding the top market share domestically[73](index=73&type=chunk) - The company has established a domestic and international service network covering East China, South China, Brazil, India, and Europe, ensuring high responsiveness to end-users[74](index=74&type=chunk) [IV. Major Operating Conditions During the Reporting Period](index=17&type=section&id=IV.%20Major%20Operating%20Conditions%20During%20the%20Reporting%20Period) This section analyzes the company's financial statement item changes, the impact of non-operating activities on profit, asset and liability status, and investment activities during the reporting period. Operating revenue remained largely stable, but financial expenses significantly increased due to exchange losses. The asset-liability structure remained stable, with a high proportion of overseas assets. The company made equity investments and disclosed financial data for its major controlled and investee companies Financial Statement Related Item Change Analysis (Jan-Jun 2025 vs. Prior Year Period) | Item | Current Period Amount (yuan) | Prior Year Period Amount (yuan) | Change (%) | | :--- | :--- | :--- | :--- | | Operating Revenue | 435,984,964.57 | 431,518,392.39 | 1.04 | | Total Profit | 29,707,344.35 | 40,202,810.32 | -26.11 | | Financial Expenses | 20,718,541.44 | 534,524.49 | 3,776.07 | | Net Cash Flow from Operating Activities | 11,784,186.65 | 27,514,659.58 | -57.17 | | Net Cash Flow from Investing Activities | 92,632,524.08 | 19,214,561.31 | 382.10 | | Net Cash Flow from Financing Activities | -103,459,686.07 | 18,306,477.59 | -665.15 | - Financial expenses significantly increased by **3,776.07%**, primarily due to increased exchange losses from the appreciation of the New Taiwan Dollar[76](index=76&type=chunk)[77](index=77&type=chunk) - Non-operating activities impacted profit, with fair value change gains of **7,835,720.23 yuan** in the prior year period, zero in the current period; prior year's non-operating expenses included **14.3 million yuan** for estimated litigation compensation[78](index=78&type=chunk) - Overseas assets totaled **1,006,422,258.21 yuan**, accounting for **46.50%** of total assets[81](index=81&type=chunk) Major Asset Restriction Status (Period-end) | Item | Period-end Book Balance (yuan) | Restriction Type | Reason for Restriction | | :--- | :--- | :--- | :--- | | Cash and Bank Balances | 76,484,668.76 | Frozen | Pledged for borrowings, performance deposits | | Debt Investments | 7,174,542.02 | Pledged | Pledged for borrowings | | Fixed Assets | 259,821,836.57 | Mortgaged | Mortgaged for borrowings | | Intangible Assets | 168,397,458.08 | Mortgaged | Mortgaged for borrowings | | Total | 511,878,505.43 | / | / | - During the reporting period, the company acquired a **6.25%** equity stake in Shenzhen Hongyue from a minority shareholder and established Malaysia Hongxun Company[83](index=83&type=chunk) [(I) Main Business Analysis](index=17&type=section&id=(I)%20Main%20Business%20Analysis) This subsection analyzes the reasons for changes in key items of the company's financial statements. Operating revenue remained largely stable, but financial expenses significantly increased due to exchange losses from the appreciation of the New Taiwan Dollar, and net cash flow from operating activities decreased due to increased employee compensation payments - Operating revenue remained largely stable compared to the same period last year, with a change of **1.04%**[76](index=76&type=chunk)[77](index=77&type=chunk) - Financial expenses increased significantly by **3,776.07%** year-on-year, primarily due to increased exchange losses from the appreciation of the New Taiwan Dollar[76](index=76&type=chunk)[77](index=77&type=chunk) - Net cash flow from operating activities decreased by **57.17%** year-on-year, mainly due to increased employee compensation payments in the current period[76](index=76&type=chunk)[77](index=77&type=chunk) - Net cash flow from investing activities increased by **382.10%** year-on-year, primarily due to the recovery of matured short-term wealth management products[76](index=76&type=chunk)[77](index=77&type=chunk) [(II) Explanation of Significant Profit Changes Caused by Non-Operating Activities](index=18&type=section&id=(II)%20Explanation%20of%20Significant%20Profit%20Changes%20Caused%20by%20Non-Operating%20Activities) This subsection explains the significant impact of non-operating activities on profit, mainly reflected in the decrease in fair value change gains and non-operating expenses, with the prior year period including an estimated liability for litigation - In the prior year period, the investment in Fosun Chongqing Private Equity Investment Partnership Enterprise recognized **7,835,720.23 yuan** in fair value change gains, which was **0** in the current period[78](index=78&type=chunk) - Non-operating expenses significantly decreased compared to the prior year period, mainly because the subsidiary Guangdong Hongxun Company recognized **14.3 million yuan** in estimated liquidated damages for litigation in the prior year[78](index=78&type=chunk) [(III) Analysis of Assets and Liabilities](index=18&type=section&id=(III)%20Analysis%20of%20Assets%20and%20Liabilities) This subsection analyzes the changes in the company's assets and liabilities at the end of the period, showing a decrease in trading financial assets and repurchase bonds, an increase in deferred income tax assets due to increased exchange losses from the appreciation of the New Taiwan Dollar, and discloses the scale of overseas assets and major asset restrictions Asset and Liability Status Changes (Period-end vs. Prior Year-end) | Item Name | Current Period-end Amount (yuan) | Current Period-end % of Total Assets | Prior Year-end Amount (yuan) | Prior Year-end % of Total Assets | Change from Prior Year-end (%) | Explanation | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Trading Financial Assets | 5,503,220.05 | 0.25 | 101,602,884.07 | 4.74 | -94.58 | Due to decrease in wealth management products | | Other Current Assets | 25,087,153.77 | 1.16 | 50,003,338.86 | 2.33 | -49.79 | Due to decrease in repurchase bonds | | Deferred Income Tax Assets | 20,217,498.76 | 0.97 | 15,695,301.65 | 0.73 | 33.28 | Deferred income tax assets arising from unrealized exchange losses on foreign currency receivables of Taiwan Hongxun due to NTD appreciation | | Advance Receipts | 2,938,125.45 | 0.14 | 7,942,354.01 | 0.37 | -63.01 | Due to amortization of advance rent recognized as revenue | | Contract Liabilities | 9,749,880.18 | 0.45 | 15,179,744.11 | 0.71 | -35.77 | Due to recognition of revenue from advance projects | | Taxes Payable | 7,813,790.53 | 0.36 | 14,613,217.21 | 0.68 | -46.53 | Due to decrease in income tax payable | | Other Payables | 34,086,811.59 | 1.57 | 25,081,014.73 | 1.17 | 35.91 | Due to litigation compensation for Guangdong Hongxun | | Provisions | 1,823,698.91 | 0.08 | 11,739,775.54 | 0.55 | -84.47 | Due to reclassification of Guangdong Hongxun litigation compensation to other payables | - Overseas assets totaled **1,006,422,258.21 yuan**, accounting for **46.50%** of total assets[81](index=81&type=chunk) Major Asset Restriction Status (Period-end) | Item | Period-end Book Balance (yuan) | Restriction Type | Reason for Restriction | | :--- | :--- | :--- | :--- | | Cash and Bank Balances | 76,484,668.76 | Frozen | Pledged for borrowings, performance deposits | | Debt Investments | 7,174,542.02 | Pledged | Pledged for borrowings | | Fixed Assets | 259,821,836.57 | Mortgaged | Mortgaged for borrowings | | Intangible Assets | 168,397,458.08 | Mortgaged | Mortgaged for borrowings | | Total | 435,393,836.67 | / | / | [(IV) Investment Analysis](index=19&type=section&id=(IV)%20Investment%20Analysis) This subsection outlines the company's external equity investments and financial assets measured at fair value. During the reporting period, the company acquired a minority stake in Shenzhen Hongyue and established Malaysia Hongxun Company. It also discloses the beginning and end balances and changes in financial assets such as private equity funds, bonds, and wealth management products - During the reporting period, the company acquired a **10%** equity stake in Shenzhen Hongyue (of which **6.25%** involved related party transactions) and established Malaysia Hongxun Company (not yet capitalized)[83](index=83&type=chunk) Changes in Financial Assets Measured at Fair Value (Beginning vs. End of Period) | Asset Category | Beginning Balance (yuan) | Amount Purchased in Current Period (yuan) | Amount Sold/Redeemed in Current Period (yuan) | Period-end Balance (yuan) | | :--- | :--- | :--- | :--- | :--- | | Private Equity Funds | 105,254,945.32 | 0 | 1,226,946.36 | 103,692,297.84 | | Bonds | 21,951,731.65 | 2,684,456.74 | 0 | 24,636,188.39 | | Wealth Management Products | 101,600,000.00 | 53,500,000.00 | 149,600,000.00 | 5,500,000.00 | | Other | 2,884.07 | 335.98 | 0 | 3,220.05 | | Total | 228,809,561.04 | 56,184,792.72 | 150,826,946.36 | 133,831,706.28 | [(VI) Analysis of Major Controlled and Investee Companies](index=22&type=section&id=(VI)%20Analysis%20of%20Major%20Controlled%20and%20Investee%20Companies) This subsection lists the basic information and financial data of the company's major controlled and investee subsidiaries, including Hongxun Software, Taiwan Hongxun, Databest, Guangdong Hongxun, and Italian EEI Company, and explains the establishment of Malaysia Hongxun Company during the reporting period - Malaysia Hongxun Company was newly established during the reporting period, currently in the preparatory stage and not yet capitalized[87](index=87&type=chunk) Financial Data of Major Subsidiaries (Period-end) | Company Name | Company Type | Main Business | Registered Capital | Total Assets (10,000 yuan) | Net Assets (10,000 yuan) | Operating Revenue (10,000 yuan) | Net Profit (10,000 yuan) | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Hongxun Software Company | Subsidiary | Computer software and hardware, communication engineering development | 2,479.78 yuan | 52,149.77 | 42,553.58 | 1,049.92 | 345.74 | | Taiwan Hongxun Company | Subsidiary | Electronic components manufacturing, etc | NTD 1,150 million | 93,967.31 | 51,110.33 | 10,277.13 | -1,282.55 | | Databest Company | Subsidiary | Software development, computer system services, etc | 100.00 yuan | 12,339.18 | 10,071.75 | 4,020.72 | 3,338.59 | | Guangdong Hongxun | Subsidiary | Industrial automation control systems, drive systems sales, etc | 9,000.00 yuan | 16,695.14 | -427.34 | 4,871.47 | -354.09 | | Italian EEI Company | Subsidiary | R&D of drivers, inverters; R&D of new energy solutions | EUR 2.875 million | 14,493.70 | -1,715.95 | 4,989.60 | -98.55 | [V. Other Disclosure Matters](index=23&type=section&id=V.%20Other%20Disclosure%20Matters) This section discloses potential risks faced by the company, including gross profit margin decline risk, accounts receivable related risks, and external environment related risks. The company has formulated countermeasures such as continuous product innovation, supply chain optimization, strengthened credit assessment, and diversified market layout - The company faces risks of declining gross profit margin, mainly due to weakened downstream demand, intensified industry competition, and rising manufacturing costs[88](index=88&type=chunk) - As of June 30, 2025, the book value of accounts receivable accounted for **24.97%** of current assets at period-end, posing certain asset loss risks, but the company has fully provided for bad debts, and the aging of accounts receivable is primarily within one year[88](index=88&type=chunk) - The company faces external environment risks such as complex global political landscape and uncertain tariff policies, and has proactively arranged core component supply resources and multi-location supply capabilities to mitigate impacts[88](index=88&type=chunk) [Section IV Corporate Governance, Environment, and Society](index=24&type=section&id=Section%20IV%20Corporate%20Governance,%20Environment,%20and%20Society) [I. Changes in Directors, Supervisors, and Senior Management](index=24&type=section&id=I.%20Changes%20in%20Directors,%20Supervisors,%20and%20Senior%20Management) This section states that there were no changes in the company's directors, supervisors, and senior management during the reporting period - No changes in the company's directors, supervisors, and senior management during the reporting period[91](index=91&type=chunk) [II. Profit Distribution or Capital Reserve Conversion Plan](index=24&type=section&id=II.%20Profit%20Distribution%20or%20Capital%20Reserve%20Conversion%20Plan) This section discloses the company's plan not to distribute profits or convert capital reserves into share capital for the first half of 2025 - The company will not distribute profits or convert capital reserves into share capital for the first half of 2025[91](index=91&type=chunk) [III. Status and Impact of Company Equity Incentive Plans, Employee Stock Ownership Plans, or Other Employee Incentive Measures](index=24&type=section&id=III.%20Status%20and%20Impact%20of%20Company%20Equity%20Incentive%20Plans,%20Employee%20Stock%20Ownership%20Plans,%20or%20Other%20Employee%20Incentive%20Measures) This section states that there were no developments or changes in the company's equity incentive plans, employee stock ownership plans, or other employee incentive measures during the reporting period - No developments or changes in the company's equity incentive plans, employee stock ownership plans, or other employee incentive measures during the reporting period[92](index=92&type=chunk) [IV. Environmental Information of Listed Companies and Their Major Subsidiaries Included in the List of Enterprises Required to Disclose Environmental Information by Law](index=24&type=section&id=IV.%20Environmental%20Information%20of%20Listed%20Companies%20and%20Their%20Major%20Subsidiaries%20Included%20in%20the%20List%20of%20Enterprises%20Required%20to%20Disclose%20Environmental%20Information%20by%20Law) This section states that the company is not subject to the regulations concerning enterprises required to disclose environmental information by law - The company is not subject to the regulations concerning enterprises required to disclose environmental information by law[92](index=92&type=chunk) [V. Specifics of Consolidating and Expanding Poverty Alleviation Achievements, Rural Revitalization, and Other Work](index=24&type=section&id=V.%20Specifics%20of%20Consolidating%20and%20Expanding%20Poverty%20Alleviation%20Achievements,%20Rural%20Revitalization,%20and%20Other%20Work) This section states that the company is not subject to the regulations concerning consolidating and expanding poverty alleviation achievements, rural revitalization, and other related work - The company is not subject to the regulations concerning consolidating and expanding poverty alleviation achievements, rural revitalization, and other related work[92](index=92&type=chunk) [Section V Significant Matters](index=25&type=section&id=Section%20V%20Significant%20Matters) [I. Fulfillment of Commitments](index=25&type=section&id=I.%20Fulfillment%20of%20Commitments) This section discloses the fulfillment of various commitments made by the company's actual controllers, controlling shareholders, and the company itself during its initial public offering, including share repurchase, investor compensation, share lock-up, avoidance of related-party transactions, and competition, all of which were strictly fulfilled during the reporting period - The company and its controlling shareholder RED FACTOR LIMITED committed to repurchasing new shares and compensating investors for losses if the prospectus contained false records, misleading statements, or major omissions; this long-term commitment was strictly fulfilled during the reporting period[94](index=94&type=chunk)[95](index=95&type=chunk)[96](index=96&type=chunk) - Controlling shareholder RED FACTOR LIMITED committed to strictly adhering to share lock-up and reduction regulations, and avoiding horizontal competition; this long-term commitment was strictly fulfilled during the reporting period[95](index=95&type=chunk)[96](index=96&type=chunk)[97](index=97&type=chunk) - Actual controllers 熊钰麟 and 周珊珊 committed to share lock-up, investor compensation, reduction and standardization of related-party transactions, and avoidance of horizontal competition; these long-term commitments were strictly fulfilled during the reporting period[96](index=96&type=chunk)[97](index=97&type=chunk) [II. Non-Operating Occupation of Funds by Controlling Shareholders and Other Related Parties During the Reporting Period](index=28&type=section&id=II.%20Non-Operating%20Occupation%20of%20Funds%20by%20Controlling%20Shareholders%20and%20Other%20Related%20Parties%20During%20the%20Reporting%20Period) This section states that there was no non-operating occupation of funds by controlling shareholders and other related parties during the reporting period - No non-operating occupation of funds by controlling shareholders and other related parties during the reporting period[98](index=98&type=chunk) [III. Irregular Guarantees](index=28&type=section&id=III.%20Irregular%20Guarantees) This section states that there were no instances of the company providing external guarantees in violation of decision-making procedures during the reporting period - No instances of the company providing external guarantees in violation of decision-making procedures during the reporting period[98](index=98&type=chunk) [IV. Semi-Annual Report Audit Status](index=29&type=section&id=IV.%20Semi-Annual%20Report%20Audit%20Status) This section states that the company's semi-annual report was not audited - This semi-annual report was not audited[6](index=6&type=chunk) [V. Changes and Handling of Matters Involving Non-Standard Audit Opinions in the Prior Year's Annual Report](index=29&type=section&id=V.%20Changes%20and%20Handling%20of%20Matters%20Involving%20Non-Standard%20Audit%20Opinions%20in%20the%20Prior%20Year's%20Annual%20Report) This section states that there were no changes or handling of matters involving non-standard audit opinions in the company's prior year's annual report - No changes or handling of matters involving non-standard audit opinions in the company's prior year's annual report[99](index=99&type=chunk) [VI. Bankruptcy Reorganization Related Matters](index=29&type=section&id=VI.%20Bankruptcy%20Reorganization%20Related%20Matters) This section states that there were no bankruptcy reorganization related matters for the company during the reporting period - No bankruptcy reorganization related matters for the company during the reporting period[99](index=99&type=chunk) [VII. Major Litigation and Arbitration Matters](index=29&type=section&id=VII.%20Major%20Litigation%20and%20Arbitration%20Matters) This section discloses major litigation and arbitration matters involving the company during the reporting period, primarily concerning the progress and outcome of lawsuits involving its wholly-owned subsidiary Guangdong Hongxun, with relevant information disclosed via temporary announcements - The company's wholly-owned subsidiary is involved in litigation matters, with relevant progress and results disclosed on the Shanghai Stock Exchange website[99](index=99&type=chunk) [VIII. Suspected Violations, Penalties, and Rectification of Listed Companies and Their Directors, Supervisors, Senior Management, Controlling Shareholders, and Actual Controllers](index=29&type=section&id=VIII.%20Suspected%20Violations,%20Penalties,%20and%20Rectification%20of%20Listed%20Companies%20and%20Their%20Directors,%20Supervisors,%20Senior%20Management,%20Controlling%20Shareholders,%20and%20Actual%20Controllers) This section states that there were no suspected violations, penalties, or rectification situations involving the company, its directors, supervisors, senior management, controlling shareholders, or actual controllers during the reporting period - No suspected violations, penalties, or rectification situations involving the company, its directors, supervisors, senior management, controlling shareholders, or actual controllers during the reporting period[100](index=100&type=chunk) [IX. Explanation of the Integrity Status of the Company, Its Controlling Shareholders, and Actual Controllers During the Reporting Period](index=29&type=section&id=IX.%20Explanation%20of%20the%20Integrity%20Status%20of%20the%20Company,%20Its%20Controlling%20Shareholders,%20and%20Actual%20Controllers%20During%20the%20Reporting%20Period) This section states that the integrity status of the company, its controlling shareholders, and actual controllers was good during the reporting period, with no unfulfilled or delayed commitments - The integrity status of the company, its controlling shareholders, and actual controllers was good during the reporting period, with no unfulfilled or delayed commitments[100](index=100&type=chunk) [X. Significant Related-Party Transactions](index=29&type=section&id=X.%20Significant%20Related-Party%20Transactions) This section discloses the company's related-party debt and credit transactions during the reporting period, primarily involving loans provided by controlling shareholder RED FACTOR (HK) LIMITED to Italian EEI Company, with an annualized lending rate of **2.71%** Related-Party Debt and Credit Transactions (Beginning vs. End of Period) | Related Party | Related Relationship | Beginning Balance (EUR) | Period-end Balance (EUR) | | :--- | :--- | :--- | :--- | | RED FACTOR (HK) LIMITED | Wholly-owned subsidiary of controlling shareholder RED Company | 1,210,588.23 | 1,210,588.23 | - The related-party debt and credit arose from RED FACTOR (HK) LIMITED, as a minority shareholder of Italian EEI Company, providing loans proportionally[102](index=102&type=chunk) - The annualized lending rate is **2.71%**, and interest expenses impact the company's net profit[102](index=102&type=chunk) [XI. Significant Contracts and Their Fulfillment](index=31&type=section&id=XI.%20Significant%20Contracts%20and%20Their%20Fulfillment) This section discloses the fulfillment of the company's significant contracts during the reporting period, including lease agreements for factory premises and major guarantees for subsidiaries. The company leased part of its factory to 中芯集成电路（宁波）有限公司, expected to increase profit. Additionally, the company provided guarantees totaling **25,011,364.33 yuan** for its subsidiaries Lease Information (Lessor) | Lessor Name | Lessee Name | Leased Asset Description | Leased Asset Amount (10,000 yuan) | Lease Start Date | Lease End Date | Lease Income (10,000 yuan) | Basis for Lease Income Determination | Impact of Lease Income on Company | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | The Company | 中芯集成电路（宁波）有限公司 | Part of factory premises and buildings at No. 335, Dagang 5th Road, Beilun District, Ningbo City | 5,113 | 2024.11.1 | 2029.10.31 | 441 | Contractual agreement | Increase in profit | Company Guarantees for Subsidiaries (Period-end) | Indicator | Amount (yuan) | | :--- | :--- | | Total guarantees provided to subsidiaries during the reporting period | 2,100,600.00 | | Total outstanding guarantees for subsidiaries at period-end (B) | 25,011,364.33 | | Total guarantees (A+B) | 25,011,364.33 | | Total guarantees as a percentage of the company's net assets (%) | 1.77 | | Of which: Debt guarantees provided directly or indirectly to guaranteed parties with an asset-liability ratio exceeding 70% (D) | 17,142,040.00 | [XII. Explanation of Progress in Use of Raised Funds](index=33&type=section&id=XII.%20Explanation%20of%20Progress%20in%20Use%20of%20Raised%20Funds) This section states that there was no progress in the use of raised funds by the company during the reporting period - No progress in the use of raised funds by the company during the reporting period[108](index=108&type=chunk) [XIII. Explanation of Other Significant Matters](index=33&type=section&id=XIII.%20Explanation%20of%20Other%20Significant%20Matters) This section states that there were no other significant matters for the company during the reporting period - No other significant matters for the company during the reporting period[108](index=108&type=chunk) [Section VI Share Changes and Shareholder Information](index=33&type=section&id=Section%20VI%20Share%20Changes%20and%20Shareholder%20Information) [I. Share Capital Changes](index=33&type=section&id=I.%20Share%20Capital%20Changes) This section states that the company's total share capital did not change during the reporting period - The company's total share capital did not change during the reporting period[109](index=109&type=chunk) [II. Shareholder Information](index=33&type=section&id=II.%20Shareholder%20Information) This section discloses the total number of shareholders, the top ten shareholders, and the top ten shareholders of unrestricted shares at the end of the reporting period. As of period-end, the total number of common shareholders was **44,088**, with controlling shareholder RED FACTOR LIMITED and its concerted party 宁波帮帮忙贸易有限公司 holding a combined **53.7059%** of shares - As of the end of the reporting period, the company had **44,088** common shareholders[110](index=110&type=chunk) Top Ten Shareholders' Holdings (As of Period-end) | Shareholder Name | Period-end Shareholding (shares) | Percentage (%) | Share Status | Number (shares) | | :--- | :--- | :--- | :--- | :--- | | RED FACTOR LIMITED | 161,131,400 | 39.86 | Pledged | 60,000,000 | | 宁波帮帮忙贸易有限公司 | 55,957,900 | 13.84 | Pledged | 32,000,000 | | Industrial Bank Co., Ltd. - Huaxia CSI Robot ETF | 4,526,000 | 1.12 | Unrestricted | 0 | | Shang Pengyu | 2,134,800 | 0.53 | Unrestricted | 0 | | Guotai Junan Securities Co., Ltd. - Tianhong CSI Robot ETF | 1,832,700 | 0.45 | Unrestricted | 0 | | Yiyuan Technology Co., Ltd. | 1,764,100 | 0.44 | Unrestricted | 0 | | China Construction Bank Corporation - E Fund Guozheng Robot Industry ETF | 1,088,900 | 0.27 | Unrestricted | 0 | | Wang Zhong | 977,000 | 0.24 | Unrestricted | 0 | | Lu Zhongwu | 885,200 | 0.22 | Unrestricted | 0 | | Shenzhen Qianhai Jiahua Xing Equity Investment Fund Management Co., Ltd. - Huaxing Junteng Securities Investment Fund | 800,000 | 0.20 | Unrestricted | 0 | - RED FACTOR LIMITED and 宁波帮帮忙贸易有限公司 are concerted parties[113](index=113&type=chunk) [III. Information on Directors, Supervisors, and Senior Management](index=35&type=section&id=III.%20Information%20on%20Directors,%20Supervisors,%20and%20Senior%20Management) This section states that there were no changes in the shareholdings of the company's directors, supervisors, and senior management during the reporting period, and no equity incentives were granted - No changes in the shareholdings of the company's directors, supervisors, and senior management during the reporting period[114](index=114&type=chunk) - No equity incentives were granted to directors, supervisors, or senior management during the reporting period[114](index=114&type=chunk) [IV. Changes in Controlling Shareholder or Actual Controller](index=35&type=section&id=IV.%20Changes%20in%20Controlling%20Shareholder%20or%20Actual%20Controller) This section states that there were no changes in the company's controlling shareholder or actual controller during the reporting period - No changes in the company's controlling shareholder or actual controller during the reporting period[114](index=114&type=chunk) [V. Preferred Share Related Matters](index=35&type=section&id=V.%20Preferred%20Share%20Related%20Matters) This section states that there were no preferred share related matters for the company during the reporting period - No preferred share related matters for the company during the reporting period[114](index=114&type=chunk) [Section VII Bond Related Matters](index=36&type=section&id=Section%20VII%20Bond%20Related%20Matters) [I. Corporate Bonds (Including Enterprise Bonds) and Non-Financial Enterprise Debt Financing Instruments](index=36&type=section&id=I.%20Corporate%20Bonds%20(Including%20Enterprise%20Bonds)%20and%20Non-Financial%20Enterprise%20Debt%20Financing%20Instruments) This section states that there were no corporate bonds (including enterprise bonds) or non-financial enterprise debt financing instruments for the company during the reporting period - No corporate bonds (including enterprise bonds) or non-financial enterprise debt financing instruments for the company during the reporting period[116](index=116&type=chunk) [II. Convertible Corporate Bonds](index=36&type=section&id=II.%20Convertible%20Corporate%20Bonds) This section states that there were no convertible corporate bonds for the company during the reporting period - No convertible corporate bonds for the company during the reporting period[116](index=116&type=chunk) [Section VIII Financial Report](index=37&type=section&id=Section%20VIII%20Financial%20Report) [I. Audit Report](index=37&type=section&id=I.%20Audit%20Report) This section states that the company's semi-annual report was not audited - This semi-annual report was not audited[6](index=6&type=chunk) [II. Financial Statements](index=37&type=section&id=II.%20Financial%20Statements) This section provides the company's consolidated and parent company balance sheets, income statements, cash flow statements, and statements of changes in owners' equity for the first half of 2025, comprehensively presenting the financial position and operating results at the end of the reporting period - Consolidated total assets were **2,165,335,503.08 yuan**, an increase of **1.05%** from the prior year-end[22](index=22&type=chunk) - Consolidated net profit attributable to listed company shareholders was **28,229,582.22 yuan**, a year-on-year decrease of **21.48%**[22](index=22&type=chunk)[23](index=23&type=chunk) - Consolidated net cash flow from operating activities was **11,784,186.65 yuan**, a year-on-year decrease of **57.17%**[22](index=22&type=chunk)[23](index=23&type=chunk) [Consolidated Balance Sheet](index=37&type=section&id=Consolidated%20Balance%20Sheet) As of June 30, 2025, the company's consolidated total assets were **2,165,335,503.08 yuan**, with total current assets of **1,215,427,545.48 yuan** and total non-current assets of **949,907,957.60 yuan**. Total liabilities were **743,404,676.34 yuan**, and total owners' equity was **1,421,930,826.74 yuan** Consolidated Balance Sheet Key Data (June 30, 2025) | Item | Amount (yuan) | | :--- | :--- | | Cash and Bank Balances | 407,991,884.50 | | Trading Financial Assets | 5,503,220.05 | | Accounts Receivable | 303,486,374.04 | | Inventories | 350,250,547.01 | | Total Current Assets | 1,215,427,545.48 | | Fixed Assets | 479,976,317.68 | | Intangible Assets | 241,864,648.00 | | Total Non-Current Assets | 949,907,957.60 | | Total Assets | 2,165,335,503.08 | | Short-term Borrowings | 174,269,259.21 | | Accounts Payable | 118,151,469.75 | | Total Current Liabilities | 455,941,604.33 | | Long-term Borrowings | 266,552,393.22 | | Total Liabilities | 743,404,676.34 | | Total Owners' Equity Attributable to Parent Company | 1,412,451,069.23 | | Total Owners' Equity | 1,421,930,826.74 | [Consolidated Income Statement](index=41&type=section&id=Consolidated%20Income%20Statement) From January to June 2025, the company achieved operating revenue of **435,984,964.57 yuan**, total profit of **29,707,344.35 yuan**, and net profit attributable to parent company shareholders of **28,229,582.22 yuan**. Financial expenses significantly increased due to exchange gains/losses, while other comprehensive income grew substantially from foreign currency financial statement translation differences Consolidated Income Statement Key Data (Jan-Jun 2025) | Item | Current Period Amount (yuan) | | :--- | :--- | | Total Operating Revenue | 435,984,964.57 | | Total Operating Costs | 415,975,072.64 | | Financial Expenses | 20,718,541.44 | | Total Profit | 29,707,344.35 | | Net Profit | 27,767,982.83 | | Net Profit Attributable to Parent Company Shareholders | 28,229,582.22 | | Net Other Comprehensive Income After Tax | 47,747,722.76 | | Total Comprehensive Income | 75,515,705.59 | | Basic Earnings Per Share (yuan/share) | 0.07 | - Financial expenses for the current period were **20,718,541.44 yuan**, compared to **534,524.49 yuan** in the prior year period, mainly due to exchange gains/losses[127](index=127&type=chunk) - Net other comprehensive income after tax was **47,747,722.76 yuan**, primarily due to foreign currency financial statement translation differences[127](index=127&type=chunk)[128](index=128&type=chunk) [Consolidated Cash Flow Statement](index=45&type=section&id=Consolidated%20Cash%20Flow%20Statement) From January to June 2025, the company's net cash flow from operating activities was **11,784,186.65 yuan**, net cash flow from investing activities was **92,632,524.08 yuan**, and net cash flow from financing activities was **-103,459,686.07 yuan**. The cash and cash equivalents balance at period-end was **331,507,215.74 yuan** Consolidated Cash Flow Statement Key Data (Jan-Jun 2025) | Item | Current Period Amount (yuan) | | :--- | :--- | | Net Cash Flow from Operating Activities | 11,784,186.65 | | Net Cash Flow from Investing Activities | 92,632,524.08 | | Net Cash Flow from Financing Activities | -103,459,686.07 | | Effect of Exchange Rate Changes on Cash and Cash Equivalents | 2,490,654.25 | | Net Increase in Cash and Cash Equivalents | 3,447,678.91 | | Cash and Cash Equivalents at Period-end | 331,507,215.74 | - Total cash inflow from operating activities was **428,849,604.20 yuan**, and total cash outflow from operating activities was **417,065,417.55 yuan**[133](index=133&type=chunk) - Total cash inflow from investing activities was **144,984,386.25 yuan**, and total cash outflow from investing activities was **52,351,862.17 yuan**[134](index=134&type=chunk) - Total cash inflow from financing activities was **150,206,503.74 yuan**, and total cash outflow from financing activities was **253,666,189.81 yuan**[134](index=134&type=chunk) [III. Company Basic Information](index=58&type=section&id=III.%20Company%20Basic%20Information) This section introduces the overview of Ningbo Hongxun Technology Co., Ltd., including its registration date, location, registered capital, total shares, and listing status, and clarifies its main business scope, covering industrial automation, IoT products, and new energy equipment - The company was registered on **September 5, 2001**, with the Ningbo Administration for Industry and Commerce, headquartered in Ningbo, Zhejiang Province[150](index=150&type=chunk) - The company's registered capital is **404.219 million yuan**, with a total of **404.219 million shares**, and its stock was listed on the Shanghai Stock Exchange on **March 3, 2015**[150](index=150&type=chunk) - Main business includes the design, R&D, manufacturing, sales, and after-sales service of **industrial automation products, IoT products, automation control devices, and new energy equipment**[151](index=151&type=chunk) [IV. Basis of Financial Statement Preparation](index=58&type=section&id=IV.%20Basis%20of%20Financial%20Statement%20Preparation) This section states that the company's financial statements are prepared on a going concern basis, and there are no matters or circumstances that raise significant doubts about its ability to continue as a going concern for the 12 months from the end of the reporting period - The company's financial statements are prepared on a **going concern basis**[152](index=152&type=chunk) - No matters or circumstances exist that raise significant doubts about the company's ability to continue as a going concern for the 12 months from the end of the reporting period[153](index=153&type=chunk) [V. Significant Accounting Policies and Estimates](index=58&type=section&id=V.%20Significant%20Accounting%20Policies%20and%20Estimates) This section details the company's specific accounting policies and estimates regarding financial instrument impairment, fixed asset depreciation, intangible asset amortization, and revenue recognition, ensuring that the financial statements accurately and completely reflect the company's financial position - The company's financial statements comply with enterprise accounting standards, accurately and completely reflecting its financial position[155](index=155&type=chunk) - The company's accounting year runs from **January 1 to December 31**, with a short operating cycle, using **12 months** as the liquidity classification standard for assets and liabilities[156](index=156&type=chunk)[157](index=157&type=chunk) - The company uses **RMB** as its functional currency, while overseas subsidiaries choose the currency of their primary economic environment as their functional currency[157](index=157&type=chunk) - The company classifies, recognizes, measures, and derecognizes financial assets and liabilities, and provides for impairment losses based on expected credit losses[167](index=167&type=chunk)[168](index=168&type=chunk)[169](index=169&type=chunk)[170](index=170&type=chunk)[171](index=171&type=chunk)[172](index=172&type=chunk)[173](index=173&type=chunk)[174](index=174&type=chunk)[175](index=175&type=chunk)[176](index=176&type=chunk)[177](index=177&type=chunk)[178](index=178&type=chunk)[179](index=179&type=chunk)[180](index=180&type=chunk)[181](index=181&type=chunk)[182](index=182&type=chunk)[183](index=183&type=chunk)[184](index=184&type=chunk) - The company's revenue recognition principle is to recognize revenue when the customer obtains control of the related goods or services, primarily selling plastic machinery control systems, servo energy-saving systems, and other products[232](index=232&type=chunk)[233](index=233&type=chunk)[234](index=234&type=chunk) [VI. Taxation](index=78&type=section&id=VI.%20Taxation) This section details the main tax categories and applicable tax rates for the company and its subsidiaries, and discloses the enjoyment of high-tech enterprise income tax incentives and VAT immediate refund policies for software products Main Tax Categories and Rates | Tax Category | Tax Rate | | :--- | :--- | | Value-Added Tax | 13%, 17%, 18%, 22% | | Business Tax | 5% | | Urban Maintenance and Construction Tax | 7%, 5% | | Corporate Income Tax | 0%, 8.25%, 12.5%, 15%, 20%, 25%, 27.90%, 29.63%, 26% | | Property Tax | 1.2%, 12% | | Education Surcharge | 3% | | Local Education Surcharge | 2% | - The company, Hongxun Software Company, and Hongyue Company are recognized as high-tech enterprises, enjoying a reduced corporate income tax rate of **15%** from 2023 to 2025[256](index=256&type=chunk)[257](index=257&type=chunk)[258](index=258&type=chunk) - Databest Company enjoys the "two-year exemption, three-year half reduction" policy for software enterprises, benefiting from a **half reduction** in corporate income tax for 2025[259](index=259&type=chunk) - Shanghai Qiaohong Company, Hongxun Software Company, Qiaohong Software Company, Hongyue Company, and Databest Company, when selling software products, enjoy a VAT immediate refund policy for the portion exceeding a **3%** actual tax burden[260](index=260&type=chunk) - The company is classified as an advanced manufacturing enterprise, enjoying VAT additional deduction incentives[260](index=260&type=chunk) [VII. Notes to Consolidated Financial Statement Items](index=80&type=section&id=VII.%20Notes%20to%20Consolidated%20Financial%20Statement%20Items) This section provides detailed notes on various asset, liability, owners' equity, revenue, cost, and expense items in the consolidated financial statements, including period-end balances, beginning balances, reasons for changes, and relevant accounting treatments - Of the cash and bank balances at period-end, **71,818,440.28 yuan** is pledged for borrowings, and other cash and bank balances are performance deposits[262](index=262&type=chunk) - Trading financial assets at period-end were **5,503,220.05 yuan**, a **94.58%** decrease from the beginning of the period, mainly due to a reduction in wealth management products[80](index=80&type=chunk)[263](index=263&type=chunk) - Accounts receivable at period-end had a book value of **303,486,374.04 yuan**, with a bad debt provision rate of **10.25%**[274](index=274&type=chunk)[276](index=276&type=chunk) - Inventories at period-end had a book value of **350,250,547.01 yuan**, with an inventory impairment provision of **77,568,283.69 yuan**[302](index=302&type=chunk) - Financial expenses for the current period were **20,718,541.44 yuan**, a significant increase from the prior year period, mainly due to exchange gains/losses of **17,075,415.71 yuan**[392](index=392&type=chunk) - Other comprehensive income increased by **50,007,424.17 yuan** in the current period, primarily due to foreign currency financial statement translation differences[378](index=378&type=chunk) [VIII. Research and Development Expenses](index=131&type=section&id=VIII.%20Research%20and%20Development%20Expenses) This section lists the company's R&D expenses for the reporting period, totaling **36,154,388.00 yuan**, all of which were expensed. Major expenditures included employee compensation, outsourced input, and depreciation and amortization R&D Expenses by Nature of Expense (Jan-Jun 2025) | Item | Current Period Amount (yuan) | | :--- | :--- | | Employee Compensation Expenses | 27,663,894.80 | | Direct Input | 1,350,565.31 | | Depreciation and Amortization | 1,795,043.88 | | Outsourced Input | 3,068,636.65 | | Office Expenses, Travel Expenses | 421,043.58 | | Technical Service Fees | 304,672.00 | | Lease Fees | 262,871.39 | | Other | 1,287,660.39 | | Total | 36,154,388.00 | | Of which: Expensed R&D Expenses | 36,154,388.00 | - All R&D expenses for the current period were expensed, with no capitalized R&D expenses[428](index=428&type=chunk) [IX. Changes in Consolidation Scope](index=131&type=section&id=IX.%20Changes%20in%20Consolidation%20Scope) This section describes changes in the company's consolidation scope during the reporting period, primarily the establishment of Malaysia Hongxun Company, which is currently in the preparatory stage - During the reporting period, the company newly established Malaysia Hongxun Company, which is currently in the preparatory stage and not yet capitalized[430](index=430&type=chunk) [X. Interests in Other Entities](index=133&type=section&id=X.%20Interests%20in%20Other%20Entities) This section discloses the company's interests in subsidiaries, joint ventures, and associates. The company includes **21** subsidiaries in its consolidated financial statements and lists summarized financial information for significant associates, showing a net profit of **2,756,853.96 yuan** for associates - The company includes **21** subsidiaries in its consolidated financial statements, including Taiwan Hongxun Company and Italian EEI Company[432](index=432&type=chunk) Summarized Financial Information of Insignificant Associates (June 30, 2025) | Item | Period-end Balance/Current Period Amount (yuan) | | :--- | :--- | | Total Investment Book Value | 42,425,845.97 | | Net Profit | 2,756,853.96 | | Total Comprehensive Income | 2,756,853.96 | [XI. Government Grants](index=136&type=section&id=XI.%20Government%20Grants) This section discloses the company's government grant-related liability items and government grants recognized in profit or loss for the current period. Deferred income at period-end includes asset/income-related government grants, with total government grants recognized in profit or loss for the current period amounting to **11,172,165.00 yuan** Government Grant Related Liability Items (Period-end) | Financial Statement Item | Beginning Balance (yuan) | New Grants in Current Period (yuan) | Transferred to Other Income in Current Period (yuan) | Period-end Balance (yuan) | Related to Assets/Income | | :--- | :--- | :--- | :--- | :--- | :--- | | Deferred Income | 2,147,858.51 | 235,000.00 | 187,531.13 | 2,195,327.38 | / | Government Grants Recognized in Profit or Loss (Jan-Jun 2025) | Item | Current Period Amount (yuan) | | :--- | :--- | | Related to Income | 11,172,165.00 | | Total | 11,172,165.00 | [XII. Risks Related to Financial Instruments](index=137&type=section&id=XII.%20Risks%20Related%20to%20Financial%20Instruments) This section elaborates on the credit risk, liquidity risk, and market risk (including interest rate risk and foreign exchange risk) faced by the company, and describes the strategies and measures taken to manage these risks, such as credit assessment, diversified financing, and foreign currency hedging - The company's risk management objective is to achieve a balance between risk and return, minimizing the negative impact of risks on operating performance[441](index=441&type=chunk) - Credit risk primarily arises from cash and bank balances and receivables; the company controls risk through credit assessment and monitoring of receivables balances, with the top five customers for accounts receivable accounting for **33.35%**[448](index=448&type=chunk)[449](index=449&type=chunk)[450](index=450&type=chunk) - Liquidity risk is managed through a comprehensive use of various financing methods such as bill settlement and bank borrowings, and by appropriately combining long-term and short-term financing[454](index=454&type=chunk) - Market risk primarily includes interest rate risk and foreign exchange risk, which the company manages by maintaining an appropriate portfolio of financial instruments and buying/selling foreign currencies when necessary[457](index=457&type=chunk)[458](index=458&type=chunk)[459](index=459&type=chunk) Financial Liabilities Classified by Remaining Maturity (Period-end) | Item | Book Value (yuan) | Undiscounted Contractual Amount (yuan) | Within 1 Year (yuan) | 1-3 Years (yuan) | Over 3 Years (yuan) | | :--- | :--- | :--- | :--- | :--- | :--- | | Bank Borrowings | 502,889,670.77 | 574,728,600.84 | 238,557,578.80 | 36,678,471.76 | 299,492,550.27 | | Notes Payable | 1,413,603.83 | 1,413,603.83 | 1,413,603.83 | 0 | 0 | | Accounts Payable | 118,151,469.75 | 118,151,469.75 | 118,151,469.75 | 0 | 0 | | Other Payables | 34,086,811.59 | 34,086,811.59 | 34,086,811.59 | 0 | 0 | | Lease Liabilities (including current portion) | 5,736,932.32 | 7,278,424.14 | 2,350,649.83 | 2,367,178.71 | 2,560,595.61 | | Long-term Payables (including current portion) | 10,171,846.54 | 10,171,846.54 | 0 | 10,171,846.54 | 0 | | Subtotal | 672,450,334.80 | 745,830,756.69 | 394,560,113.80 | 49,217,497.01 | 302,053,145.88 | [XIII. Disclosure of Fair Value](index=141&type=section&id=XIII.%20Disclosure%20of%20Fair%20Value) This section discloses the fair value of the company's assets and liabilities measured at fair value at period-end, primarily including trading financial assets and accounts receivable financing, classified by fair value measurement hierarchy Fair Value of Assets and Liabilities Measured at Fair Value at Period-end | Item | Level 1 Fair Value Measurement (yuan) | Level 2 Fair Value Measurement (yuan) | Level 3 Fair Value Measurement (yuan) | Total (yuan) | | :--- | :--- | :--- | :--- | :--- | | I. Recurring Fair Value Measurements | | | | | | (I) Trading Financial Assets | | | 133,831,706.28 | 133,831,706.28 | | 1. Financial assets measured at fair value through profit or loss | | | 133,831,706.28 | 133,831,706.28 | | (1) Debt instrument investments | | | 103,692,297.84 | 103,692,297.84 | | (2) Equity instrument investments | | | 3,220.05 | 3,220.05 | | (4) Wealth management products | | | 5,500,000.00 | 5,500,000.00 | | (5) Convertible bonds | | | 24,636,188.39 | 24,636,188.39 | | (VI) Accounts Receivable Financing | 73,975,841.39 | | | 73,975,841.39 | | Total Assets Measured at Fair Value on a Recurring Basis | 73,975,841.39 | | 133,831,706.28 | 207,807,547.67 | [XIV. Related Parties and Related-Party Transactions](index=143&type=section&id=XIV.%20Related%20Parties%20and%20Related-Party%20Transactions) This section discloses the company's parent company, subsidiaries, joint ventures, associates, and other related parties, and details related-party transactions during the reporting period, including purchases and sales of goods, provision of services, related-party leases, related-party guarantees, and related-party fund borrowings, as well as unsettled items - The ultimate controlling parties of the enterprise are **Mr. 熊钰麟 and Ms. 周珊珊**[471](index=471&type=chunk) - Controlling shareholder RED FACTOR LIMITED and its controlled entity 宁波帮帮忙贸易有限公司 collectively hold **53.7059%** of shares[471](index=471&type=chunk) Related-Party Fund Borrowings (Borrowed) | Related Party | Borrowed Amount (EUR) | Start Date | Due Date | | :--- | :--- | :--- | :--- | | RED FACTOR (HK) LIMITED | 1,210,588.23 | 2019-4-24 to 2021-7-6 | 2027-7-5 | The Company as Guarantor (June 30, 2025) | Guarantor | Guaranteed Amount (NTD) | Guarantee Start Date | Guarantee End Date | | :--- | :--- | :--- | :--- | | 熊鈺麟, 周珊珊 | 1,050,400,000.00 | 2022/9/27 | 2040/6/1

Core Viewpoint - Ningbo Hongxun Technology Co., Ltd. is set to hold an online performance briefing on August 27, 2025, to discuss its half-year results and engage with investors regarding operational performance and development plans [2][3]. Group 1: Meeting Details - The investor briefing will take place on August 27, 2025, from 15:00 to 16:00 [4][5]. - The meeting will be conducted online via the Shanghai Securities Journal and China Securities Network [4][5]. - Company executives, including the Chairman, General Manager, CFO, and independent directors, will participate in the meeting [4]. Group 2: Investor Participation - Investors can register and log in to participate in the meeting through the specified online platform [6]. - Questions and topics of interest can be submitted to the company's investor relations email by August 26, 2025, for discussion during the briefing [2][6]. - Contact information for inquiries includes a phone number and email address for the investor relations department [6].

证券日报网讯 8月20日晚间，弘讯科技发布公告称，公司计划于2025年8月27日（星期三）15：00－ 16：00召开2025年半年度业绩说明会。 （文章来源：证券日报） ...

宁波弘讯科技股份有限公司 关于召开 2025 年半年度网上业绩说明会的预告公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者 重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 宁波弘讯科技股份有限公司（以下简称"公司"）拟于 2025 年 8 月 26 日披露《2025 年半年度报告》公告，为便于广大投资者更加全面、深入地了解公司情况，公司计划 于 2025 年 8 月 27 日召开 2025 年半年度业绩说明会，就投资者关心的公司经营业绩、 发展规划等事项与广大投资者进行充分交流。 一、 说明会类型 本次投资者说明会以网络方式召开，公司将针对 2025 年半年度经营成果，与投资 者进行互动交流和沟通，在信息披露允许的范围内就投资者普遍关注的问题进行回答。 二、 召开的时间、地点 (https://roadshow.cnstock.com/) 证券代码：603015 证券简称：弘讯科技 公告编号：2025-026 公司董事长：熊钰麟 先生 公司董事、总经理：熊明慧 女士 公司财务总监：叶海萍 女士 公司董事会秘书：郑琴 女士 独立董事：沈玉平 先生 如遇特殊 ...

天眼查商业履历信息显示，宁波弘讯科技股份有限公司，成立于2001年，位于宁波市，是一家以从事专 用设备制造业为主的企业。企业注册资本40421.9万人民币，实缴资本40421.9万人民币。公司法定代表 人为熊钰麟。 通过天眼查大数据分析，宁波弘讯科技股份有限公司共对外投资了15家企业，参与招投标项目11次，知 识产权方面有商标信息56条，专利信息180条，此外企业还拥有行政许可5个。 来源：金融界 金融界消息 截至2025年8月19日收盘，弘讯科技（603015）报收于12.97元，上涨1.01%，换手率 3.78%，成交量15.26万手，成交金额1.97亿元。 资金流向方面，今日主力资金净流入1289.24万元，占比成交额6.55%。其中，超大单净流入1501.02万 元、占成交额7.62%，大单净流出211.78万元、占成交额1.08%，中单净流出流出677.80万元、占成交额 3.44%，小单净流出611.43万元、占成交额3.11%。 弘讯科技最新一期业绩显示，截至2025一季报，公司营业总收入2.15亿元、同比增长20.69%，归属净利 润2324.38万元，同比增长37.70%，扣非净利润2066 ...

Core Insights - The report highlights that nearly all of the over 50 controllable nuclear fusion concept stocks have undergone investor research this year, indicating strong interest in the sector [1] - Several companies have released their performance data for the first half of 2025, with some reporting profit increases while others are facing losses [1] Group 1: Company Research and Performance - Ice Wheel Environment (000811) and Antai Technology (000969) have received over 10 investor research sessions, with Ice Wheel Environment leading with 42 sessions [2] - The total market capitalization of Ice Wheel Environment is 126.66 billion, with a year-to-date increase of 38.05% [2] - Other notable companies include Jiangsu Shentong (002438) with 13 research sessions and a market cap of 69.08 billion, showing a year-to-date increase of 13.13% [2] Group 2: Performance Variability - Companies such as Baoshan Co. (600973) and Yongding Co. (600105) have reported performance increases, while China First Heavy Industries (601106) and others have reported performance losses [1] - The report indicates that the performance of controllable nuclear fusion stocks is varied, with some companies like China Nuclear Power (601985) experiencing a year-to-date decline of 10.35% [2]

Group 1 - The core component of fusion devices is the fusion power supply, which enhances the fusion "triple product" by optimizing heating temperature and energy confinement time, thus promoting fusion ignition [1][2] - The overall technical and customer barriers for power supply are high, with power supply costs accounting for 30%-50% of the total device cost [1][5] - The investment climate for fusion in China is improving, and the demand for fusion power supply is expected to be fully released as multiple technical routes progress simultaneously [1][5] Group 2 - The power supply plays a crucial role in assisting plasma heating and controlling plasma position, with strict requirements for precision to avoid electromagnetic radiation hazards [2][3] - Different fusion routes, such as linear, Z-pinch, and stellarator, have stringent requirements for power supply, with costs for linear devices reaching about 50% and Z-pinch devices around 30% of total costs [4][5] - Domestic capabilities for core components of power supplies have been established, reducing reliance on imports for critical components like electron tubes [3][5] Group 3 - Recommended stocks include Aikesaibo (688719.SH), with attention to Yingjie Electric (300820.SZ), Guoguang Electric (688776.SH), Xuguang Electronics (600353.SH), Hongxun Technology (603015.SH), and Wangzi New Materials (002735.SZ) [6]