伟时电子股份有限公司 选聘会计师事务所管理办法 （一）按照董事会的授权制定选聘会计师事务所的政策、流程及相关内部控 制制度； （二）提议启动选聘会计师事务所相关工作； 第一条 为规范伟时电子股份有限公司（以下简称公司）选聘会计师事务所 行为，维护公司利益相关方合法权益，推动提升审计质量，根据《中华人民共和 国公司法》《国有企业、上市公司选聘会计师事务所管理办法》《伟时电子股份 有限公司章程》（以下简称公司章程）及其他有关规定，制定本办法。 第二条 本办法所称选聘会计师事务所，是指公司根据相关法律法规要求， 聘任会计师事务所对财务会计报告发表审计意见、出具审计报告的行为。公司聘 任会计师事务所从事除财务会计报告审计之外的其他法定审计业务的，可以比照 本办法执行。 第三条 公司董事会审计委员会（以下简称审计委员会）负责选聘会计师事 务所工作，并监督其审计工作开展情况。审计委员会履行下列职责： （三）审议选聘文件，确定评价要素和具体评分标准，监督选聘过程； （四）提出拟选聘会计师事务所及审计费用的建议，提交董事会审议后由股 东会决定； （五）监督及评估会计师事务所审计工作； （六）每年向董事会提交对受聘会计师事务所 ...

第一章 总则 第一条 为进一步规范伟时电子股份有限公司（以下称"公司"）内部审计工 作，提高内部审计工作质量，提升公司内部管理水平，保护公司及全体投资者的 合法权益，根据《中华人民共和国审计法》《中国内部审计准则》《企业内部控制 基本规范》及《上海证券交易所上市公司自律监管指引第 1 号——规范运作》《伟 时电子股份有限公司章程》及其它有关规定，结合公司内部审计工作的实际情况， 特制定本制度。 第二条 本制度所称内部审计，是指公司审计部依据国家有关法律法规、财 务会计制度和公司内部管理规定，对内部控制和风险管理的有效性、财务信息的 真实性和完整性以及经营活动的效率和效果等开展的一种评价活动。 伟时电子股份有限公司 内部审计制度 第三条 本制度所称内部控制，是指公司董事会、高级管理人员及其他有关 人员为实现下列目标而提供合理保证的过程： （一）遵守国家法律、法规、规章及其他相关规定； 第四条 公司董事会应当对内部控制制度的建立健全和有效实施负责，重要 的内部控制制度应当经董事会审议通过。公司董事会及其全体成员应当保证内部 控制相关信息披露内容的真实、准确、完整。 第二章 内部审计组织机构及工作职责 （二）审阅公 ...

[Important Notice](index=2&type=section&id=%E9%87%8D%E8%A6%81%E6%8F%90%E7%A4%BA) This section outlines critical declarations regarding report authenticity, board attendance, audit status, financial report statements, profit distribution plans, forward-looking statements, fund occupation, external guarantees, and significant risk warnings [Report Authenticity Statement](index=2&type=section&id=%E4%B8%80%E3%80%81%E6%9C%AC%E5%85%AC%E5%8F%B8%E8%91%A3%E4%BA%8B%E4%BC%9A%E3%80%81%E7%9B%91%E4%BA%8B%E4%BC%9A%E5%8F%8A%E8%91%A3%E4%BA%8B%E3%80%81%E7%9B%91%E4%BA%8B%E3%80%81%E9%AB%98%E7%BA%A7%E7%AE%A1%E7%90%86%E4%BA%BA%E5%91%98%E4%BF%9D%E8%AF%81%E5%8D%8A%E5%B9%B4%E5%BA%A6%E6%8A%A5%E5%91%8A%E5%86%85%E5%AE%B9%E7%9A%84%E7%9C%9F%E5%AE%9E%E6%80%A7%E3%80%81%E5%87%86%E7%A1%AE%E6%80%A7%E3%80%81%E5%AE%8C%E6%95%B4%E6%80%A7%EF%BC%8C%E4%B8%8D%E5%AD%98%E5%9C%A8%E8%99%9A%E5%81%87%E8%AE%B0%E8%BD%BD%E3%80%81%E8%AF%AF%E5%AF%BC%E6%80%A7%E9%99%88%E8%BF%B0%E6%88%96%E9%87%8D%E5%A4%A7%E9%81%97%E6%BC%8F%EF%BC%8C%E5%B9%B6%E6%89%BF%E6%8B%85%E4%B8%AA%E5%88%AB%E5%92%8C%E8%BF%9E%E5%B8%A6%E7%9A%84%E6%B3%95%E5%BE%8B%E8%B4%A3%E4%BB%BB%E3%80%82) The company's board of directors, supervisory board, and senior management declare the report's content to be true, accurate, and complete, free from misrepresentation or material omission, and assume legal responsibility - The company's board of directors, supervisory board, and senior management guarantee the truthfulness, accuracy, and completeness of the semi-annual report content[3](index=3&type=chunk) [Board Meeting Attendance](index=2&type=section&id=%E4%BA%8C%E3%80%81%E5%85%AC%E5%8F%B8%E5%85%A8%E4%BD%93%E8%91%A3%E4%BA%8B%E5%87%BA%E5%B8%AD%E8%91%A3%E4%BA%8B%E4%BC%9A%E4%BC%9A%E8%AE%AE%E3%80%82) All company directors attended the board meeting - All company directors attended the board meeting[4](index=4&type=chunk) [Audit Status](index=2&type=section&id=%E4%B8%89%E3%80%81%E6%9C%AC%E5%8D%8A%E5%B9%B4%E5%BA%A6%E6%8A%A5%E5%91%8A%E6%9C%AA%E7%BB%8F%E5%AE%A1%E8%AE%A1%E3%80%82) This semi-annual report is unaudited - This semi-annual report is unaudited[5](index=5&type=chunk) [Financial Report Statement](index=2&type=section&id=%E5%9B%9B%E3%80%81%E5%85%AC%E5%8F%B8%E8%B4%9F%E8%B4%A3%E4%BA%BA%E5%B1%B1%E5%8F%A3%E8%83%9C%E3%80%81%E4%B8%BB%E7%AE%A1%E4%BC%9A%E8%AE%A1%E5%B7%A5%E4%BD%9C%E8%B4%9F%E8%B4%A3%E4%BA%BA%E9%9D%B3%E5%B8%8C%E5%B9%B3%E5%8F%8A%E4%BC%9A%E8%AE%A1%E6%9C%BA%E6%9E%84%E8%B4%9F%E8%B4%A3%E4%BA%BA%EF%BC%88%E4%BC%9A%E8%AE%A1%E4%B8%BB%E7%AE%A1%E4%BA%BA%E5%91%98%EF%BC%89%E9%9D%B3%E5%B8%8C%E5%B9%B3%E5%A3%B0%E6%98%8E%EF%BC%9A%E4%BF%9D%E8%AF%81%E5%8D%8A%E5%B9%B4%E5%BA%A6%E6%8A%A5%E5%91%8A%E4%B8%AD%E8%B4%A2%E5%8A%A1%E6%8A%A5%E5%91%8A%E7%9A%84%E7%9C%9F%E5%AE%9E%E3%80%81%E5%87%86%E7%A1%AE%E3%80%81%E5%AE%8C%E6%95%B4%E3%80%82) The company's responsible person, chief accountant, and head of accounting department declare the financial report to be true, accurate, and complete - Company负责人 Yamaguchi Masaru, chief accountant Jin Xiping, and head of accounting department Jin Xiping declare: ensuring the truthfulness, accuracy, and completeness of the financial report in the semi-annual report[5](index=5&type=chunk) [Profit Distribution Plan](index=2&type=section&id=%E4%BA%94%E3%80%81%E8%91%A3%E4%BA%8B%E4%BC%9A%E5%86%B3%E8%AE%AE%E9%80%9A%E8%BF%87%E7%9A%84%E6%9C%AC%E6%8A%A5%E5%91%8A%E6%9C%9F%E5%88%A9%E6%B6%A6%E5%88%86%E9%85%8D%E9%A2%84%E6%A1%88%E6%88%96%E5%85%AC%E7%A7%AF%E9%87%91%E8%BD%AC%E5%A2%9E%E8%82%A1%E6%9C%AC%E9%A2%84%E6%A1%88) The board of directors resolved not to distribute profits or convert capital reserves into share capital for this reporting period - No profit distribution or capital reserve conversion into share capital will be conducted for this reporting period[6](index=6&type=chunk) [Forward-Looking Statements Risk Disclaimer](index=2&type=section&id=%E5%85%AD%E3%80%81%E5%89%8D%E7%9E%BB%E6%80%A7%E9%99%88%E8%BF%B0%E7%9A%84%E9%A3%8E%E9%99%A9%E5%A3%B0%E6%98%8E) Forward-looking descriptions in the report, such as future plans and development strategies, do not constitute a substantive commitment to investors, who are advised to note investment risks - Forward-looking descriptions in this report, such as future plans and development strategies, do not constitute a substantive commitment to investors, who are kindly reminded to note investment risks[7](index=7&type=chunk) [Fund Occupation and External Guarantees](index=2&type=section&id=%E4%B8%83%E3%80%81%E6%98%AF%E5%90%A6%E5%AD%98%E5%9C%A8%E8%A2%AB%E6%8E%A7%E8%82%A1%E8%82%A1%E4%B8%9C%E5%8F%8A%E5%85%B6%E4%BB%96%E5%85%B3%E8%81%94%E6%96%B9%E9%9D%9E%E7%BB%8F%E8%90%A5%E6%80%A7%E5%8D%A0%E7%94%A8%E8%B5%84%E9%87%91%E6%83%85%E5%86%B5) During the reporting period, there was no non-operating occupation of funds by controlling shareholders or other related parties, nor any external guarantees provided in violation of decision-making procedures - No non-operating occupation of funds by controlling shareholders or other related parties[8](index=8&type=chunk) - No external guarantees provided in violation of decision-making procedures[8](index=8&type=chunk) [Significant Risk Warning](index=2&type=section&id=%E5%8D%81%E3%80%81%E9%87%8D%E5%A4%A7%E9%A3%8E%E9%99%A9%E6%8F%90%E7%A4%BA) The company has described potential risks in its production and operations within the "Management Discussion and Analysis" section, advising investors to review it - Potential risks in production and operations have been described in this report, please refer to Section III "Management Discussion and Analysis" "V. Other Disclosures" "(I) Potential Risks" for relevant content[8](index=8&type=chunk) [Section I Definitions](index=4&type=section&id=%E7%AC%AC%E4%B8%80%E8%8A%82%20%E9%87%8A%E4%B9%89) This section provides definitions for common terms used in the report, including accounting periods, company entities, industry terms, and major customers, to ensure clear understanding of the report content - This section defines the reporting period, company entities (e.g., **Ways Electronic, Ways Japan, Dongguan Ways**), industry terms (e.g., **liquid crystal display devices, backlights, IML, Mini LED, OLED**), and major customers (e.g., **JDI, Tianma, LGD, AUO, Innolux, CSOT, Alpine, Visteon, Company T**)[13](index=13&type=chunk)[14](index=14&type=chunk) [Section II Company Profile and Key Financial Indicators](index=6&type=section&id=%E7%AC%AC%E4%BA%8C%E8%8A%82%20%E5%85%AC%E5%8F%B8%E7%AE%80%E4%BB%8B%E5%92%8C%E4%B8%BB%E8%A6%81%E8%B4%A2%E5%8A%A1%E6%8C%87%E6%A0%87) This section introduces Ways Electronic's basic information, contact details, stock overview, and key accounting data and financial indicators for the first half of 2025, explaining the reasons for changes in some indicators [Company Information](index=6&type=section&id=%E4%B8%80%E3%80%81%E5%85%AC%E5%8F%B8%E4%BF%A1%E6%81%AF) Basic information of Ways Electronic Co., Ltd., including its Chinese abbreviation, foreign name, and legal representative - The company's Chinese name is Ways Electronic Co., Ltd., abbreviated as **Ways Electronic**, and the legal representative is **Yamaguchi Masaru**[16](index=16&type=chunk) [Contact Person and Information](index=6&type=section&id=%E4%BA%8C%E3%80%81%E8%81%94%E7%B3%BB%E4%BA%BA%E5%92%8C%E8%81%94%E7%B3%BB%E6%96%B9%E5%BC%8F) Disclosure of the company's board secretary's name, contact address, phone, fax, and email - The Board Secretary is **Gao Lifang**, with contact address at No. 299 Yunque Road, Precision Machinery Industrial Park, Kunshan Development Zone, Jiangsu Province, phone **0512-57152590**, and email **ir@ksways.com**[17](index=17&type=chunk) [Brief Introduction to Changes in Basic Information](index=6&type=section&id=%E4%B8%89%E3%80%81%E5%9F%BA%E6%9C%AC%E6%83%85%E5%86%B5%E5%8F%98%E6%9B%B4%E7%AE%80%E4%BB%8B) The company's registered address changed to its current location on December 5, 2008, with no other changes during the reporting period - The company's registered address is No. 299 Yunque Road, Precision Machinery Industrial Park, Kunshan Development Zone, Jiangsu Province, changed to this location on **December 5, 2008**[18](index=18&type=chunk) [Information Disclosure and Document Storage Location](index=6&type=section&id=%E5%9B%9B%E3%80%81%E4%BF%A1%E6%81%AF%E6%8A%AB%E9%9C%B2%E5%8F%8A%E5%A4%87%E7%BD%AE%E5%9C%B0%E7%82%B9%E5%8F%98%E6%9B%B4%E6%83%85%E5%86%B5%E7%AE%80%E4%BB%8B) The company designates "Shanghai Securities News" as its information disclosure newspaper, the Shanghai Stock Exchange website for report publication, and the company's board office as the report storage location - The company's designated information disclosure newspaper is **"Shanghai Securities News"**, and the website for publishing semi-annual reports is the **Shanghai Stock Exchange website (www.sse.com.cn)**[19](index=19&type=chunk) [Company Stock Overview](index=6&type=section&id=%E4%BA%94%E3%80%81%E5%85%AC%E5%8F%B8%E8%82%A1%E7%A5%A8%E7%AE%80%E5%86%B5) The company's A-shares are listed on the Shanghai Stock Exchange, with stock abbreviation "Ways Electronic" and stock code "605218" - The company's stock type is **A-shares**, listed on the **Shanghai Stock Exchange**, with stock abbreviation **Ways Electronic** and stock code **605218**[20](index=20&type=chunk) [Key Accounting Data and Financial Indicators](index=6&type=section&id=%E4%B8%83%E3%80%81%E5%85%AC%E5%8F%B8%E4%B8%BB%E8%A6%81%E4%BC%9A%E8%AE%A1%E6%95%B0%E6%8D%AE%E5%92%8C%E8%B4%A2%E5%8A%A1%E6%8C%87%E6%A0%87) In the first half of 2025, the company's operating revenue increased by 9.81%, and net profit attributable to shareholders increased by 0.87%, but non-recurring net profit decreased by 33.97%, mainly due to increased R&D investment and initial losses from subsidiaries. Net cash flow from operating activities significantly decreased by 579.73%, primarily due to increased fund occupation from bill settlements 2025 First Half Key Accounting Data | Key Accounting Data | Current Period (Jan-Jun) (RMB) | Prior Period (RMB) | Current Period vs. Prior Period Change (%) | | :--- | :--- | :--- | :--- | | Operating Revenue | 976,644,205.62 | 889,398,171.95 | 9.81 | | Total Profit | 12,631,391.71 | 14,021,210.00 | -9.91 | | Net Profit Attributable to Listed Company Shareholders | 19,480,830.31 | 19,312,566.73 | 0.87 | | Net Profit Attributable to Listed Company Shareholders After Deducting Non-Recurring Gains and Losses | 10,941,894.54 | 16,571,237.66 | -33.97 | | Net Cash Flow from Operating Activities | -52,221,378.04 | 10,885,626.50 | -579.73 | | **End of Current Period** | **End of Prior Year** | **End of Current Period vs. End of Prior Year Change (%)** | | | Net Assets Attributable to Listed Company Shareholders | 1,315,528,311.00 | 1,304,330,756.33 | 0.86 | | Total Assets | 2,414,652,932.86 | 2,351,536,089.18 | 2.68 | 2025 First Half Key Financial Indicators | Key Financial Indicators | Current Period (Jan-Jun) | Prior Period | Current Period vs. Prior Period Change (%) | | :--- | :--- | :--- | :--- | | Basic Earnings Per Share (RMB/share) | 0.0924 | 0.0916 | 0.87 | | Diluted Earnings Per Share (RMB/share) | 0.0919 | 0.0913 | 0.66 | | Basic Earnings Per Share After Deducting Non-Recurring Gains and Losses (RMB/share) | 0.0519 | 0.0786 | -33.97 | | Weighted Average Return on Net Assets (%) | 1.49 | 1.50 | Decrease of 0.01 percentage points | | Weighted Average Return on Net Assets After Deducting Non-Recurring Gains and Losses (%) | 0.84 | 1.29 | Decrease of 0.45 percentage points | - The change in net profit attributable to shareholders after deducting non-recurring gains and losses is due to the company's continuous increase in **R&D investment**, and the fact that the two subsidiaries in Huai'an and Vietnam are still in their initial stages, which has lowered the group's profit level[23](index=23&type=chunk) - The change in net cash flow from operating activities is due to the increase in sales settled by bills, leading to increased **fund occupation** by accounts receivable financing[24](index=24&type=chunk) [Non-Recurring Gains and Losses](index=7&type=section&id=%E4%B9%9D%E3%80%81%E9%9D%9E%E7%BB%8F%E5%B8%B8%E6%80%A7%E6%8D%9F%E7%9B%8A%E9%A1%B9%E7%9B%AE%E5%92%8C%E9%87%91%E9%A2%9D) During the reporting period, the company's total non-recurring gains and losses amounted to 8,538,935.77 RMB, primarily including government grants, fair value changes in financial assets, and disposal gains/losses of non-current assets 2025 First Half Non-Recurring Gains and Losses Items and Amounts | Non-Recurring Gains and Losses Item | Amount (RMB) | | :--- | :--- | | Disposal gains and losses of non-current assets | 83,141.89 | | Government grants recognized in profit or loss for the current period | 6,238,223.32 | | Gains and losses from changes in fair value of financial assets and liabilities held by non-financial enterprises, and gains and losses from disposal of financial assets and liabilities | 3,926,706.06 | | Other non-operating income and expenses | 106,017.25 | | Less: Income tax impact | 1,815,152.75 | | Total | 8,538,935.77 | [Net Profit After Deducting Share-Based Payment Impact](index=8&type=section&id=%E5%8D%81%E3%80%81%E5%AD%98%E5%9C%A8%E8%82%A1%E6%9D%83%E6%BF%80%E5%8A%B1%E3%80%81%E5%91%98%E5%B7%A5%E6%8C%81%E8%82%A1%E8%AE%A1%E5%88%92%E7%9A%84%E5%85%AC%E5%8F%B8%E5%8F%AF%E9%80%89%E6%8B%A9%E6%8A%AB%E9%9C%B2%E6%89%A3%E9%99%A4%E8%82%A1%E4%BB%BD%E6%94%AF%E4%BB%98%E5%BD%B1%E5%93%8D%E5%90%8E%E7%9A%84%E5%87%80%E5%88%A9%E6%B6%A6) After deducting the impact of share-based payments, the company's net profit for the first half of 2025 was 21,511,467.05 RMB, a year-on-year decrease of 4.30% Net Profit After Deducting Share-Based Payment Impact | Key Accounting Data | Current Period (Jan-Jun) (RMB) | Prior Period (RMB) | Current Period vs. Prior Period Change (%) | | :--- | :--- | :--- | :--- | | Net Profit After Deducting Share-Based Payment Impact | 21,511,467.05 | 22,477,408.46 | -4.30 | [Section III Management Discussion and Analysis](index=9&type=section&id=%E7%AC%AC%E4%B8%89%E8%8A%82%20%E7%AE%A1%E7%90%86%E5%B1%82%E8%AE%A8%E8%AE%BA%E4%B8%8E%E5%88%86%E6%9E%90) This section discusses the company's industry, main business, operating model, performance, market development, R&D, core competitiveness, and risks, comprehensively presenting its operating status and future development in the first half of 2025 [Industry and Main Business](index=9&type=section&id=%E4%B8%80%E3%80%81%E6%8A%A5%E5%91%8A%E6%9C%9F%E5%86%85%E5%85%AC%E5%8F%B8%E6%89%80%E5%B1%9E%E8%A1%8C%E4%B8%9A%E5%8F%8A%E4%B8%BB%E8%90%A5%E4%B8%9A%E5%8A%A1%E6%83%85%E5%86%B5%E8%AF%B4%E6%98%8E) The company primarily engages in R&D, production, and sales of backlight display modules, LCD modules, and smart display components, mainly for automotive, VR, and digital camera applications. It is a leading enterprise in automotive backlight display modules, collaborating with global renowned manufacturers. In the first half of 2025, operating revenue increased by 9.81%, and net profit attributable to shareholders increased by 0.87% - The company operates in the **"C397-Electronic Device Manufacturing"** industry, specifically **"C3974-Display Device Manufacturing"**, further segmented into the **"LCD Display Industry"** and **"Automotive LCD Display Industry"**[32](index=32&type=chunk) - The company's main products are **backlight display modules**, with downstream customers primarily being LCD manufacturers and domestic/international Tier1, Tier2 suppliers, mainly used in **automotive** and consumer fields such as digital cameras and VR[32](index=32&type=chunk) - The automotive LCD display market has promising prospects, with global automotive display panel pre-installation shipments expected to reach **250 million units by 2025**[33](index=33&type=chunk) - VR technology applications are expanding, and the company's VR backlight display module end-users include a **well-known US social platform company**[33](index=33&type=chunk) - The company has established stable cooperative relationships with global renowned manufacturers such as **Tianma, JDI, Sharp, LGD, Visteon, and CSOT**, with end-application car manufacturers including **Mercedes-Benz, BMW, Audi, Company T, and BYD Company**[34](index=34&type=chunk) 2025 First Half Operating Performance | Indicator | Amount (million RMB) | Year-on-Year Growth (%) | | :--- | :--- | :--- | | Operating Revenue | 976.64 | 9.81 | | Net Profit Attributable to Parent Company Owners | 19.48 | 0.87 | | Net Profit After Deducting Non-Recurring Gains and Losses | 10.94 | -33.97 | - As of June 30, 2025, the company's total assets were **2,414.65 million RMB**, an increase of **2.68%** year-on-year; net assets were **1,315.53 million RMB**, an increase of **0.86%** year-on-year[35](index=35&type=chunk) - During the reporting period, the company's main business remained unchanged, with an operating model primarily based on **self-production**, supplemented by outsourced processing, adopting a **"production-to-order"** model, and expanding the market through its own marketing, partner trading companies, and customer influence[35](index=35&type=chunk)[36](index=36&type=chunk) [Discussion and Analysis of Operations](index=10&type=section&id=%E4%BA%8C%E3%80%81%E7%BB%8F%E8%90%A5%E6%83%85%E5%86%B5%E7%9A%84%E8%AE%A8%E8%AE%BA%E4%B8%8E%E5%88%86%E6%9E%90) The company's operating revenue and net profit attributable to shareholders grew in the first half of 2025, but non-recurring net profit declined. The company continues to deepen its presence in the automotive and consumer backlight display module markets, increasing R&D investment and focusing on cutting-edge technologies such as smart cockpits, Mini-LED, multi-screen lamination, and head-up displays to enhance market competitiveness 2025 First Half Operating Performance | Indicator | Amount (million RMB) | Year-on-Year Growth (%) | | :--- | :--- | :--- | | Operating Revenue | 976.64 | 9.81 | | Net Profit Attributable to Parent Company Owners | 19.48 | 0.87 | | Net Profit After Deducting Non-Recurring Gains and Losses | 10.94 | -33.97 | - The company's operating revenue primarily comes from **automotive backlight display modules**, having established good cooperative relationships with industry giants such as **BOE, Tianma, AUO, JDI, and LGD**[39](index=39&type=chunk) - For consumer backlight display modules, the end-users of VR backlight display modules include a **well-known US social platform company**[39](index=39&type=chunk) - **R&D investment** amounted to **67.50 million RMB**, accounting for **6.91%** of sales revenue; a total of **124 authorized patents** have been obtained, with **46 patents pending**[40](index=40&type=chunk) - R&D Directions: * **Smart Cockpit Dynamic Privacy Backlight Module**: Addresses driver distraction and provides entertainment for passengers, with samples already provided to customers for evaluation[41](index=41&type=chunk) * **Smart Cockpit Ultra-Large Screen Backlight Module**: Responds to automotive intelligence and large-screen integration trends, with multiple ultra-large modules already in mass production, and China's smart cockpit penetration rate expected to reach **75.9% in 2025**[42](index=42&type=chunk) * **Blue Mini-LED Backlight Display Module**: Enhanced development, offering advantages over OLED in terms of **higher yield, lower cost, better brightness, lower power consumption, and longer lifespan**, with some models already in mass production in 2024[43](index=43&type=chunk) * **Multi-Screen Full Lamination and Curved 3D Lamination Technology**: Multiple dual-screen and triple-screen LCD lamination display modules are in mass production, and curved 3D lamination equipment has been put into use[44](index=44&type=chunk) * **VR and Other Consumer Mini-LED Backlight LCD Modules**: Initial development completed, with continued efforts to **reduce costs, improve efficiency, and increase resolution**[45](index=45&type=chunk) * **Head-Up Display (HUD)**: Developing shaped lenses to meet ultra-high brightness requirements, with the basic structure finalized, and the global market size expected to reach **9.72 billion USD by 2029**[46](index=46&type=chunk) * **Streaming Media Rearview Mirror Ultra-Narrow Bezel**: Addresses the aesthetic issue of wide bezels in traditional display modules, with samples already sent to customers for evaluation[47](index=47&type=chunk) * **Tri-Color Backlight**: Achieves wider color gamut, higher color purity, and lower energy consumption through pre-mixing light, with samples already sent to customers for development evaluation[48](index=48&type=chunk)[49](index=49&type=chunk) [Analysis of Core Competencies](index=13&type=section&id=%E4%B8%89%E3%80%81%E6%8A%A5%E5%91%8A%E6%9C%9F%E5%86%85%E6%A0%B8%E5%BF%83%E7%AB%9E%E4%BA%89%E5%8A%9B%E5%88%86%E6%9E%90) Leveraging its deep expertise in backlight display modules, the company has developed six core competencies: customer advantage, technology R&D, industry chain, product quality, rapid response, and management efficiency, laying a solid foundation for sustained development - Core Competencies: * **Customer Advantage**: Established long-term stable cooperative relationships with global renowned LCD manufacturers and Tier1, Tier2 suppliers, enhancing industry brand influence[50](index=50&type=chunk) * **Technology R&D Advantage**: A high-tech enterprise with qualifications such as "Jiangsu Province Smart Manufacturing Demonstration Workshop" and "High-Performance Automotive Display Module Engineering Technology Research Center", with R&D investment accounting for **5% to 9% of revenue**, mastering multiple core technologies to maintain industry leadership[51](index=51&type=chunk)[52](index=52&type=chunk) * **Industry Chain Advantage**: Internal vertical integration across product and process R&D, mold development and manufacturing, structural component production, light guide plate and other precision component production, electronic component assembly, OCA/OCR lamination, reducing costs and ensuring quality[53](index=53&type=chunk) * **Product Quality Advantage**: Established quality management systems such as **ISO 9001, ISO14001, IATF 16949**, achieving full-process control from product development to mass production, ensuring high product yield[54](index=54&type=chunk) * **Rapid Response Advantage**: Possesses strong technical R&D capabilities, enabling rapid development and design of different product specifications, timely meeting customer needs, and enhancing customer reliance[55](index=55&type=chunk) * **Management Efficiency Advantage**: An experienced management team with forward-looking strategic thinking, capable of timely acquiring customer demands and industry trends, and identifying new business growth points[56](index=56&type=chunk)[58](index=58&type=chunk)[59](index=59&type=chunk) [Key Operating Performance](index=15&type=section&id=%E5%9B%9B%E3%80%81%E6%8A%A5%E5%91%8A%E6%9C%9F%E5%86%85%E4%B8%BB%E8%A6%81%E7%BB%8F%E8%90%A5%E6%83%85%E5%86%B5) This period saw increases in the company's operating revenue and costs, with a significant rise in R&D expenses. Financial expenses changed due to new subsidiary lease interest and short-term loan interest. Net cash flow from operating activities significantly decreased, mainly affected by increased bill settlements. Net cash outflow from investing activities increased, primarily due to higher payments for engineering equipment. Net cash flow from financing activities significantly increased, mainly due to higher long-term and short-term loans 2025 First Half Financial Statement Related Account Changes | Account | Current Period Amount (RMB) | Prior Period Amount (RMB) | Change (%) | | :--- | :--- | :--- | :--- | | Operating Revenue | 976,644,205.62 | 889,398,171.95 | 9.81 | | Operating Cost | 851,999,836.29 | 776,887,121.47 | 9.67 | | Selling Expenses | 13,466,187.56 | 11,703,764.73 | 15.06 | | Administrative Expenses | 38,920,616.49 | 35,351,675.66 | 10.10 | | Financial Expenses | -4,433,797.87 | -8,024,279.40 | - | | R&D Expenses | 67,496,775.87 | 57,232,985.68 | 17.93 | | Net Cash Flow from Operating Activities | -52,221,378.04 | 10,885,626.50 | -579.73 | | Net Cash Flow from Investing Activities | -205,347,786.74 | -109,576,025.53 | - | | Net Cash Flow from Financing Activities | 182,671,030.15 | 43,496,047.69 | 319.97 | - Reasons for financial expense changes: primarily due to the recognition of **factory lease interest expenses** by the newly established Vietnam subsidiary and **new short-term working capital loan interest expenses** in this period[60](index=60&type=chunk) - Reasons for changes in net cash flow from operating activities: increased sales settled by bills led to increased **fund occupation** by accounts receivable financing[61](index=61&type=chunk) - Reasons for changes in net cash flow from investing activities: primarily due to increased payments for **engineering equipment** by the company and its subsidiaries[61](index=61&type=chunk) - Reasons for changes in net cash flow from financing activities: primarily due to increased amounts of **long-term and short-term loans** received by the company and its subsidiaries[61](index=61&type=chunk) Asset and Liability Status Changes | Item Name | Period-End Amount (RMB) | Period-End % of Total Assets | Prior Year-End Amount (RMB) | Prior Year-End % of Total Assets | Period-End vs. Prior Year-End Change (%) | | :--- | :--- | :--- | :--- | :--- | :--- | | Cash and Bank Balances | 412,437,382.06 | 17.09 | 489,628,581.61 | 20.82 | -15.77 | | Accounts Receivable | 535,202,256.13 | 22.17 | 566,230,439.23 | 24.08 | -5.48 | | Inventories | 228,129,141.44 | 9.45 | 257,928,295.66 | 10.97 | -11.55 | | Fixed Assets | 497,482,861.44 | 20.61 | 322,591,465.48 | 13.72 | 54.21 | | Construction in Progress | 348,736,127.06 | 14.45 | 402,659,568.48 | 17.12 | -13.39 | | Right-of-Use Assets | 42,730,323.67 | 1.77 | 48,811,938.74 | 2.08 | -12.46 | | Long-Term Borrowings | 236,761,215.22 | 9.81 | 134,536,564.20 | 5.72 | 75.98 | | Lease Liabilities | 30,902,223.74 | 1.28 | 37,619,640.67 | 1.60 | -17.86 | - Reasons for fixed asset changes: primarily due to the **capitalization of new factory buildings** constructed in Kunshan[63](index=63&type=chunk) - Reasons for long-term loan changes: primarily due to an increase in **long-term project loan amounts** for the Huai'an subsidiary in this period[64](index=64&type=chunk) - Overseas assets amounted to **273.27 million RMB**, accounting for **11.32%** of total assets[65](index=65&type=chunk) Major Asset Restrictions as of the End of the Reporting Period | Item | Period-End Carrying Value (RMB) | Restriction Reason | | :--- | :--- | :--- | | Cash and Bank Balances | 373,374.18 | Pledged time deposits for bank borrowings | | Fixed Assets | 1,797,028.78 | Mortgaged for bank borrowing credit line | | Intangible Assets | 18,639,450.86 | Mortgaged for bank borrowing credit line | | Total | 20,809,853.82 | - | - Financial assets measured at fair value had an ending balance of **73.98 million RMB**, consistent with the beginning of the period, primarily consisting of **equity instrument investments**[68](index=68&type=chunk) Major Holding and Participating Company Information | Company Name | Company Type | Operating Revenue (RMB) | Net Profit (RMB) | | :--- | :--- | :--- | :--- | | WAYS Co., Ltd. | Subsidiary | 300,960,257.67 | 3,511,311.11 | | Dongguan Ways Technology Co., Ltd. | Subsidiary | 221,944,136.87 | 11,200,822.00 | | Huai'an Ways Technology Co., Ltd. | Subsidiary | 15,562,760.81 | -2,637,533.92 | | Ways Asia Co., Ltd. | Subsidiary | 40,172,313.49 | 273,461.40 | | Vietnam Ways Technology Co., Ltd. | Subsidiary | - | -4,418,477.04 | | Chongqing Ways Optoelectronics Technology Co., Ltd. | Associate | 31,626,823.97 | 2,579,373.10 | - Huai'an Ways and Vietnam Ways are still in their initial stages, negatively impacting the group's profit level[70](index=70&type=chunk) [Other Disclosures](index=18&type=section&id=%E4%BA%94%E3%80%81%E5%85%B6%E4%BB%96%E6%8A%AB%E9%9C%B2%E4%BA%8B%E9%A1%B9) The company faces seven major risks: international trade uncertainty, technological substitution, industry competition, RMB exchange rate fluctuations, rising labor costs, concentrated downstream customers, and customer operating losses, which may adversely affect its operating performance and financial condition - Potential Risks: * **Increased International Trade Uncertainty Risk**: Export revenue accounts for **71.30%**, and international trade uncertainty will indirectly affect the company's sales[71](index=71&type=chunk) * **Technological Substitution Risk**: Multiple display technologies such as TFT-LCD, AMOLED, and Micro-LED coexist; if other technologies achieve breakthroughs in the future, they may **erode LCD market share**[72](index=72&type=chunk) * **Industry Competition Risk**: Consumer electronics backlight manufacturers may enter the automotive backlight field, intensifying industry competition[73](index=73&type=chunk) * **RMB Exchange Rate Fluctuation Risk**: Procurement and sales are primarily settled in **USD**, and exchange rate fluctuations affect product prices and exchange gains/losses[74](index=74&type=chunk) * **Rising Labor Cost Risk**: Increased employee wages, social security, and other expenses may affect product production costs and profitability[75](index=75&type=chunk) * **Concentrated Downstream Customer Risk**: Sales revenue from the **top five customers accounts for 56.02%**, indicating high customer concentration, and changes in customer operations may affect the company's sales and accounts receivable collection[76](index=76&type=chunk)[77](index=77&type=chunk) * **Customer Operating Loss Risk Leading to Company Losses**: One of the top five customers has been continuously incurring losses, posing a risk of **delayed or unrecoverable payments**[78](index=78&type=chunk) [Section IV Corporate Governance, Environment, and Society](index=20&type=section&id=%E7%AC%AC%E5%9B%9B%E8%8A%82%20%E5%85%AC%E5%8F%B8%E6%B2%BB%E7%90%86%E3%80%81%E7%8E%AF%E5%A2%83%E5%92%8C%E7%A4%BE%E4%BC%9A) This section states that there were no changes in the company's directors, supervisors, or senior management, no profit distribution or capital reserve conversion into share capital for this reporting period, and details the implementation and unlocking conditions of the 2023 employee stock ownership plan [Changes in Directors, Supervisors, and Senior Management](index=20&type=section&id=%E4%B8%80%E3%80%81%E5%85%AC%E5%8F%B8%E8%91%A3%E4%BA%8B%E3%80%81%E7%9B%91%E4%BA%8B%E3%80%81%E9%AB%98%E7%BA%A7%E7%AE%A1%E7%90%86%E4%BA%BA%E5%91%98%E5%8F%98%E5%8A%A8%E6%83%85%E5%86%B5) During the reporting period, there were no changes in the company's directors, supervisors, or senior management - During the reporting period, there were no changes in the company's directors, supervisors, or senior management[81](index=81&type=chunk) [Profit Distribution Plan](index=20&type=section&id=%E4%BA%8C%E3%80%81%E5%88%A9%E6%B6%A6%E5%88%86%E9%85%8D%E6%88%96%E8%B5%84%E6%9C%AC%E5%85%AC%E7%A7%AF%E9%87%91%E8%BD%AC%E5%A2%9E%E9%A2%84%E6%A1%88) The proposed profit distribution plan for this semi-annual period is no distribution or conversion - The proposed profit distribution plan for this semi-annual period is **no distribution or conversion**[81](index=81&type=chunk) [Employee Stock Ownership Plan](index=20&type=section&id=%E4%B8%89%E3%80%81%E5%85%AC%E5%8F%B8%E8%82%A1%E6%9D%83%E6%BF%80%E5%8A%B1%E8%AE%A1%E5%88%92%E3%80%81%E5%91%98%E5%B7%A5%E6%8C%81%E8%82%A1%E8%AE%A1%E5%88%92%E6%88%96%E5%85%B6%E4%BB%96%E5%91%98%E5%B7%A5%E6%BF%80%E5%8A%B1%E6%8E%AA%E6%96%BD%E7%9A%84%E6%83%85%E5%86%B5%E5%8F%8A%E5%85%B6%E5%BD%B1%E5%93%8D) The company's 2023 employee stock ownership plan completed stock transfer on December 27, 2023, holding 0.94% of the total share capital. The plan has a 48-month duration, with stocks unlocking in three phases, and the first lock-up period expired and conditions were met on December 26, 2024 - The company's **2023 employee stock ownership plan** completed the non-trading transfer of **2,004,937 shares** of company stock on December 27, 2023, accounting for **0.94%** of the company's total share capital[82](index=82&type=chunk) - The stock ownership plan has a duration of **48 months**, with stocks unlocking in three phases: 12 months, 24 months, and 36 months from the stock transfer date, with unlocking ratios of **20%, 40%, and 40%** respectively[83](index=83&type=chunk) - The first lock-up period of the company's 2023 employee stock ownership plan expired on **December 26, 2024**, and the unlocking conditions were met[84](index=84&type=chunk) [Section V Significant Matters](index=22&type=section&id=%E7%AC%AC%E4%BA%94%E8%8A%82%20%E9%87%8D%E8%A6%81%E4%BA%8B%E9%A1%B9) This section details the fulfillment of the company's commitments, including share restrictions and information disclosure responsibilities, and states that there was no non-operating fund occupation by controlling shareholders or related parties, nor any illegal guarantees during the reporting period. It also discloses related party transactions, significant guarantees, progress in the use of raised funds, and other important matters [Fulfillment of Commitments](index=22&type=section&id=%E4%B8%80%E3%80%81%E6%89%BF%E8%AF%BA%E4%BA%8B%E9%A1%B9%E5%B1%A5%E8%A1%8C%E6%83%85%E5%86%B5) The company's controlling shareholders, actual controllers, directors, supervisors, senior management, and the company itself have strictly fulfilled all commitments, including share restrictions, truthfulness of information disclosure and compensation liability, share reduction conditions, use of raised funds, and return enhancement measures Major Commitments and Their Fulfillment | Commitment Background | Commitment Type | Committed Party | Commitment Period | Timely and Strict Fulfillment | | :--- | :--- | :--- | :--- | :--- | | Related to Initial Public Offering | Share Restriction | Company Controlling Shareholder, Actual Controller, Directors, Supervisors, Senior Management | Long-term | Yes | | Related to Initial Public Offering | Other (Information Disclosure Truthfulness and Compensation) | Ways Electronic | Long-term | Yes | | Related to Initial Public Offering | Other (Information Disclosure Truthfulness and Compensation) | Controlling Shareholder, Actual Controller | Long-term | Yes | | Related to Initial Public Offering | Other (Information Disclosure Truthfulness and Compensation) | Directors, Supervisors, Senior Management | Long-term | Yes | | Related to Initial Public Offering | Other (Share Reduction Conditions) | Shareholders holding 5% or more before public offering | Long-term | Yes | | Related to Initial Public Offering | Other (Use of Raised Funds and Return Enhancement) | Ways Electronic | Long-term | Yes | | Related to Refinancing | Other (Return Enhancement Measures) | Controlling Shareholder, Actual Controller | Yes | Yes | | Related to Refinancing | Other (Return Enhancement Measures) | Directors, Senior Management | Yes | Yes | [Fund Occupation and Illegal Guarantees](index=28&type=section&id=%E4%BA%8C%E3%80%81%E6%8A%A5%E5%91%8A%E6%9C%9F%E5%86%85%E6%8E%A7%E8%82%A1%E8%82%A1%E4%B8%9C%E5%8F%8A%E5%85%B6%E4%BB%96%E5%85%B3%E8%81%94%E6%96%B9%E9%9D%9E%E7%BB%8F%E8%90%A5%E6%80%A7%E5%8D%A0%E7%94%A8%E8%B5%84%E9%87%91%E6%83%85%E5%86%B5) During the reporting period, the company had no non-operating fund occupation by controlling shareholders or other related parties, nor any illegal guarantees - During the reporting period, there was no non-operating occupation of funds by controlling shareholders or other related parties[99](index=99&type=chunk) - During the reporting period, there were no illegal guarantees[99](index=99&type=chunk) [Integrity Status](index=29&type=section&id=%E4%B9%9D%E3%80%81%E6%8A%A5%E5%91%8A%E6%9C%9F%E5%86%85%E5%85%AC%E5%8F%B8%E5%8F%8A%E5%85%B6%E6%8E%A7%E8%82%A1%E8%82%A1%E4%B8%9C%E3%80%81%E5%AE%9E%E9%99%85%E6%8E%A7%E5%88%B6%E4%BA%BA%E8%AF%9A%E4%BF%A1%E7%8A%B6%E5%86%B5%E7%9A%84%E8%AF%B4%E6%98%8E) During the reporting period, the company, its controlling shareholders, and actual controllers maintained good integrity, with no unfulfilled court judgments or significant overdue debts - During the reporting period, the company, its controlling shareholders, and actual controllers maintained **good integrity**, with no unfulfilled court judgments or significant overdue debts[100](index=100&type=chunk) [Significant Related Party Transactions](index=29&type=section&id=%E5%8D%81%E3%80%81%E9%87%8D%E5%A4%A7%E5%85%B3%E8%81%94%E4%BA%A4%E6%98%93) During the reporting period, the company engaged in minor routine operating related party transactions, primarily for hotel services and property leases, with small transaction amounts and fair market pricing Routine Operating Related Party Transactions | Related Party | Related Relationship | Related Transaction Type | Related Transaction Content | Related Transaction Amount (RMB) | % of Similar Transactions | | :--- | :--- | :--- | :--- | :--- | :--- | | Hot Spring Hotel | Other | Acceptance of Services | Acceptance of hotel services | 61,729.10 | 2.14 | | Chongqing Ways | Associate | Property Lease | Property lease | 82,133.62 | 100.00 | | Total | / | / | / | 143,862.72 | / | [Significant Contracts and Their Fulfillment](index=30&type=section&id=%E5%8D%81%E4%B8%80%E3%80%81%E9%87%8D%E5%A4%A7%E5%90%88%E5%90%8C%E5%8F%8A%E5%85%B6%E5%B1%A5%E8%A1%8C%E6%83%85%E5%86%B5) The company had lease agreements during the reporting period, mainly for subsidiary factory leases, resulting in negative lease income. The total guarantee balance for subsidiaries was 421.48 million RMB, accounting for 32.04% of net assets, of which 400 million RMB was for guaranteed entities with a debt-to-asset ratio exceeding 70% Leasing Situation | Lessor Name | Lessee Name | Leased Asset Details | Lease Start Date | Lease End Date | Lease Income (RMB) | | :--- | :--- | :--- | :--- | :--- | :--- | | Dongguan Chang'an Town Yongtou Share Economic Union | Dongguan Ways | No. 19 Longquan Road | 2023.05.01 | 2028.04.30 | -2,278,080.00 | | Dongguan Chang'an Town Yongtou Xixi'an Share Economic Cooperative | Dongguan Ways | No. 7 Xinrong Street, etc. | 2023.07.01 | 2028.06.30 | -2,112,270.00 | | KCN TAN VU-HAIPHONG JOINT STOCK COMPANY | Vietnam Ways | Plant B, Plot CN4G, DEEP C-2B Industrial Park | 2024.08.29 | 2029.08.28 | -2,221,370.70 | Company Guarantees for Subsidiaries | Indicator | Amount (million RMB) | | :--- | :--- | | Total Guarantee Balance for Subsidiaries at Period-End (B) | 421.48 | | Total Guarantees (A+B) | 421.48 | | Total Guarantees as % of Company Net Assets | 32.04 | | Of which: Debt Guarantees Provided Directly or Indirectly for Guaranteed Entities with Debt-to-Asset Ratio Exceeding 70% (D) | 400.00 | | Total of the Above Three Guarantee Amounts (C+D+E) | 400.00 | [Progress in Use of Raised Funds](index=33&type=section&id=%E5%8D%81%E4%BA%8C%E3%80%81%E5%8B%9F%E9%9B%86%E8%B5%84%E9%87%91%E4%BD%BF%E7%94%A8%E8%BF%9B%E5%B1%95%E8%AF%B4%E6%98%8E) The company's initial public offering raised a total of 583.70 million RMB, with a net amount of 534.14 million RMB. As of the end of the reporting period, 454.69 million RMB had been invested, representing an investment progress of 85.13%. 36.84 million RMB was invested this year. The company also temporarily used 82 million RMB of idle raised funds to supplement working capital Overall Use of Raised Funds | Source of Raised Funds | Total Raised Funds (million RMB) | Net Raised Funds (1) (million RMB) | Total Investment Committed in Prospectus or Offering Document (2) (million RMB) | Total Raised Funds Cumulatively Invested as of Period-End (4) (million RMB) | Cumulative Investment Progress (%) (6)=(4)/(1) | Amount Invested This Year (8) (million RMB) | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Initial Public Offering of Shares | 583.70 | 534.14 | 534.14 | 454.69 | 85.13 | 36.84 | Detailed Use of Raised Investment Projects | Project Name | Planned Investment Amount of Raised Funds (1) (million RMB) | Amount Invested This Year (million RMB) | Total Raised Funds Cumulatively Invested as of Period-End (2) (million RMB) | Cumulative Investment Progress (%) (3)=(2)/(1) | Date Project Reached Intended Usable State | | :--- | :--- | :--- | :--- | :--- | :--- | | Backlight Display Module Expansion and Smart Display Component New Construction Project | 360.51 | 35.67 | 301.44 | 83.61 | October 2025 | | Production Line Automation Technical Transformation Project | 111.82 | 1.17 | 93.24 | 83.38 | December 2023 | | R&D Center Construction Project | 61.81 | 0 | 60.02 | 97.10 | June 2023 | - As of June 30, 2025, the company had used **82 million RMB** of idle raised funds to temporarily supplement working capital[114](index=114&type=chunk) - The company's board of directors approved a **120 million RMB** limit for idle raised funds for cash management, with a balance of **0** at the end of the reporting period[116](index=116&type=chunk) [Section VI Share Changes and Shareholder Information](index=36&type=section&id=%E7%AC%AC%E5%85%AD%E8%8A%82%20%E8%82%A1%E4%BB%BD%E5%8F%98%E5%8A%A8%E5%8F%8A%E8%82%A1%E4%B8%9C%E6%83%85%E5%86%B5) This section discloses that the company's total share capital and share structure remained unchanged during the reporting period, and lists the top ten shareholders as of the end of the reporting period, with controlling shareholder WATANABE YOICHI holding 58.53% [Changes in Share Capital](index=36&type=section&id=%E4%B8%80%E3%80%81%E8%82%A1%E6%9C%AC%E5%8F%98%E5%8A%A8%E6%83%85%E5%86%B5) During the reporting period, there were no changes in the company's total share capital or share structure - During the reporting period, the company's total share capital and share structure remained unchanged[118](index=118&type=chunk) [Shareholder Information](index=36&type=section&id=%E4%BA%8C%E3%80%81%E8%82%A1%E4%B8%9C%E6%83%85%E5%86%B5) As of the end of the reporting period, the company had 20,553 common shareholders. The top two shareholders, WATANABE YOICHI and YAMAGUCHI MASARU, are both foreign natural persons, holding 58.53% and 9.83% respectively - As of the end of the reporting period, the total number of common shareholders was **20,553**[119](index=119&type=chunk) Top Ten Shareholders as of the End of the Reporting Period | Shareholder Name | Period-End Shareholding (shares) | Percentage (%) | Shareholder Nature | | :--- | :--- | :--- | :--- | | WATANABE YOICHI | 124,576,382 | 58.53 | Foreign Natural Person | | YAMAGUCHI MASARU | 20,920,574 | 9.83 | Foreign Natural Person | | HSBC Hong Kong | 2,500,000 | 1.17 | Other | | Goldman Sachs International - Proprietary Trading | 1,994,103 | 0.94 | Other | | Hongtian Jiyue Co., Ltd. | 1,711,674 | 0.80 | Foreign Legal Person | | Ningbo Taiweihong Investment Management Partnership (Limited Partnership) | 1,646,648 | 0.77 | Other | | Ways Electronic Co., Ltd. - 2023 Employee Stock Ownership Plan | 1,603,950 | 0.75 | Other | | Ningbo Tailianxin Investment Management Partnership (Limited Partnership) | 702,677 | 0.33 | Other | | Li Yuhong | 668,700 | 0.31 | Domestic Natural Person | | Zhou Jian | 550,000 | 0.26 | Domestic Natural Person | - Yamaguchi Masaru holds **100%** equity in Kunshan Weijun Enterprise Management Consulting Co., Ltd., which is the executive partner of Ningbo Taiweihong Investment Management Partnership (Limited Partnership) and Ningbo Tailianxin Investment Management Partnership (Limited Partnership)[122](index=122&type=chunk) [Section VII Bond-Related Information](index=39&type=section&id=%E7%AC%AC%E4%B8%83%E8%8A%82%20%E5%80%BA%E5%88%B8%E7%9B%B8%E5%85%B3%E6%83%85%E5%86%B5) During the reporting period, the company had no corporate bonds (including enterprise bonds) or non-financial enterprise debt financing instruments, nor any convertible corporate bonds - During the reporting period, the company had no corporate bonds (including enterprise bonds) or non-financial enterprise debt financing instruments[125](index=125&type=chunk) - During the reporting period, the company had no convertible corporate bonds[125](index=125&type=chunk) [Section VIII Financial Report](index=40&type=section&id=%E7%AC%AC%E5%85%AB%E8%8A%82%20%E8%B4%A2%E5%8A%A1%E6%8A%A5%E5%91%8A) This section contains Ways Electronic Co., Ltd.'s unaudited consolidated and parent company financial statements for the first half of 2025, including balance sheets, income statements, cash flow statements, and statements of changes in owners' equity, along with detailed notes to the financial statements, comprehensively reflecting the company's financial position and operating results at the end of the reporting period [Audit Report](index=40&type=section&id=%E4%B8%80%E3%80%81%E5%AE%A1%E8%AE%A1%E6%8A%A5%E5%91%8A) This semi-annual report is unaudited - This semi-annual report is unaudited[127](index=127&type=chunk) [Financial Statements](index=40&type=section&id=%E4%BA%8C%E3%80%81%E8%B4%A2%E5%8A%A1%E6%8A%A5%E8%A1%A8) This part presents the company's consolidated and parent company balance sheets as of June 30, 2025, consolidated and parent company income statements and cash flow statements for January-June 2025, and consolidated and parent company statements of changes in owners' equity, providing a semi-annual financial overview of the company - The consolidated balance sheet shows that as of June 30, 2025, the company's total assets were **2,414,652,932.86 RMB**, total liabilities were **1,099,124,621.86 RMB**, and total owners' equity was **1,315,528,311.00 RMB**[129](index=129&type=chunk) - The consolidated income statement shows that for January-June 2025, the company's total operating revenue was **976,644,205.62 RMB**, and net profit was **19,480,830.31 RMB**[134](index=134&type=chunk)[136](index=136&type=chunk) - The consolidated cash flow statement shows that for January-June 2025, net cash flow from operating activities was **-52,221,378.04 RMB**, net cash flow from investing activities was **-205,347,786.74 RMB**, and net cash flow from financing activities was **182,671,030.15 RMB**[142](index=142&type=chunk) [Company Basic Information](index=58&type=section&id=%E4%B8%89%E3%80%81%E5%85%AC%E5%8F%B8%E5%9F%BA%E6%9C%AC%E6%83%85%E5%86%B5) Ways Electronic Co., Ltd. was established on September 1, 2003, restructured into a joint-stock company in June 2018, and listed on the Shanghai Stock Exchange on September 28, 2020. The company primarily engages in the production and sales of backlight display modules, LCD modules, and other products - Ways Electronic Co., Ltd., formerly Kunshan Ways Electronic Co., Ltd., was established on **September 1, 2003**, and restructured into a joint-stock company in **June 2018**[157](index=157&type=chunk) - The company issued A-shares to the public on **September 16, 2020**, and was listed on the Shanghai Stock Exchange on **September 28, 2020**, with stock code **605218**[157](index=157&type=chunk) - The company's main business activities are the production and sales of **backlight display modules, liquid crystal display modules, hardware parts, plastic parts, smart display components**, and other products[157](index=157&type=chunk) [Basis of Financial Statement Preparation](index=58&type=section&id=%E5%9B%9B%E3%80%81%E8%B4%A2%E5%8A%A1%E6%8A%A5%E8%A1%A8%E7%9A%84%E7%BC%96%E5%88%B6%E5%9F%BA%E7%A1%80) The company prepares its financial statements on a going concern basis, in accordance with enterprise accounting standards and relevant regulations of the China Securities Regulatory Commission, and has assessed its ability to continue as a going concern - The company prepares its financial statements on a **going concern basis**, recognizing and measuring transactions and events in accordance with enterprise accounting standards, their application guidelines, and interpretations[159](index=159&type=chunk) - The company assessed its **going concern ability** for 12 months from the end of the reporting period and found no matters affecting its ability to continue as a going concern[160](index=160&type=chunk) [Significant Accounting Policies and Estimates](index=58&type=section&id=%E4%BA%94%E3%80%81%E9%87%8D%E8%A6%81%E4%BC%9A%E8%AE%A1%E6%94%BF%E7%AD%96%E5%8F%8A%E4%BC%9A%E8%AE%A1%E4%BC%B0%E8%AE%A1) This section details the significant accounting policies and estimates followed by the company in preparing its financial statements, covering financial instruments, inventories, fixed assets, intangible assets, revenue recognition, government grants, and explains key assumptions for significant accounting judgments and estimates - The company adheres to enterprise accounting standards, with the accounting year running from **January 1 to December 31** of the Gregorian calendar, a normal operating cycle of one year, and the recording currency being **RMB**[161](index=161&type=chunk)[162](index=162&type=chunk)[163](index=163&type=chunk)[164](index=164&type=chunk) - The company applies detailed accounting policies and estimation methods for **financial instruments, inventories, fixed assets, intangible assets, revenue recognition, government grants, deferred income tax assets/liabilities, and leases**[183](index=183&type=chunk)[229](index=229&type=chunk)[251](index=251&type=chunk)[263](index=263&type=chunk)[298](index=298&type=chunk)[308](index=308&type=chunk)[313](index=313&type=chunk)[318](index=318&type=chunk) - Key assumptions for significant accounting judgments and estimates include **estimated useful lives and residual values of fixed assets, impairment provisions for fixed assets, inventory depreciation provisions, expected credit loss provisions for accounts receivable, and recognition of deferred income tax assets**[337](index=337&type=chunk)[338](index=338&type=chunk)[339](index=339&type=chunk)[340](index=340&type=chunk)[341](index=341&type=chunk)[342](index=342&type=chunk)[343](index=343&type=chunk)[344](index=344&type=chunk)[345](index=345&type=chunk) [Taxation](index=97&type=section&id=%E5%85%AD%E3%80%81%E7%A8%8E%E9%A1%B9) This section discloses the company's main tax categories and rates, including VAT, urban maintenance and construction tax, education surcharge, property tax, land use tax, fixed asset tax, and corporate income tax. The company and Dongguan Ways enjoy a 15% corporate income tax preferential rate as high-tech enterprises Main Tax Categories and Rates | Tax Category | Tax Basis | Tax Rate | | :--- | :--- | :--- | | Value-Added Tax | Taxable Value-Added Amount | 13% | | Urban Maintenance and Construction Tax | Actual VAT Paid | 7% | | Education Surcharge | Actual VAT Paid | 3% | | Local Education Surcharge | Actual VAT Paid | 2% | | Property Tax | Portion based on rent / Remaining value of property | 12%/1.2% | | Land Use Tax | Land Area | 3 RMB/sqm (Huai'an Ways 5 RMB/sqm, halved) | | Fixed Asset Tax (Japan) | Net Book Value of Fixed Assets | 1.4% | Taxable Entities with Different Corporate Income Tax Rates | Taxable Entity Name | Income Tax Rate (%) | | :--- | :--- | | The Company | 15% | | WAYS Co., Ltd. (Japan) | Corporate tax 23.2%, local corporate tax 10.3%, etc. (differentiated) | | Dongguan Ways Technology Co., Ltd. | 15% | | Ways Asia Co., Ltd. | 8.25% (below 2 million HKD) / 16.5% (above 2 million HKD) | | Huai'an Ways Technology Co., Ltd. | 25% | | VIETNAM WAYS TECHNOLOGY COMPANY LIMITED | 20% | - The company obtained its **high-tech enterprise certificate** on November 19, 2024, and will apply a **15% corporate income tax rate** from 2024 to 2026[349](index=349&type=chunk) - Dongguan Ways obtained its **high-tech enterprise certificate** on December 22, 2022, and will apply a **15% corporate income tax rate** from 2022 to 2024, continuing to apply this rate during the current reporting period[350](index=350&type=chunk) [Notes to Consolidated Financial Statement Items](index=99&type=section&id=%E4%B8%83%E3%80%81%E5%90%88%E5%B9%B6%E8%B4%A2%E5%8A%A1%E6%8A%A5%E8%A1%A8%E9%A1%B9%E7%9B%AE%E6%B3%A8%E9%87%8A) This section provides detailed notes for each item in the consolidated financial statements, including cash and bank balances, notes receivable, accounts receivable, inventories, fixed assets, construction in progress, intangible assets, short-term borrowings, accounts payable, employee compensation payable, long-term borrowings, deferred income, etc., explaining the period-end balances, changes, and related accounting treatments for significant items - Cash and bank balances at period-end amounted to **412,437,382.06 RMB**, of which **37,802,774.75 RMB** was deposited overseas[352](index=352&type=chunk) - Accounts receivable had a carrying value of **535,202,256.13 RMB** at period-end, with total impairment provisions of **17,657,543.21 RMB**, including a **full impairment provision** for Shenzhen Hezheng Automotive Electronics Co., Ltd[359](index=359&type=chunk)[360](index=360&type=chunk) - Inventories had a carrying value of **228,129,141.44 RMB** at period-end, with total impairment provisions of **7,006,818.60 RMB**[385](index=385&type=chunk)[386](index=386&type=chunk) - Fixed assets had a carrying value of **497,482,861.44 RMB** at period-end, with an increase of **197,877,269.00 RMB** during the period, mainly due to transfers from construction in progress[398](index=398&type=chunk) - Construction in progress had a carrying value of **348,736,127.06 RMB** at period-end, primarily including the **lightweight automotive new display module project** and the **backlight display module expansion and smart display component new construction project**[402](index=402&type=chunk)[404](index=404&type=chunk) - Short-term borrowings at period-end amounted to **90,000,000.00 RMB**, representing **short-term working capital loans**[424](index=424&type=chunk) - Long-term borrowings at period-end amounted to **236,761,215.22 RMB**, mainly due to an increase in **long-term project loan amounts** for the Huai'an subsidiary[438](index=438&type=chunk)[64](index=64&type=chunk) - Operating revenue for the current period was **976,644,205.62 RMB**, and operating cost was **851,999,836.29 RMB**, with main business revenue primarily from **backlight display modules**[458](index=458&type=chunk)[461](index=461&type=chunk) [R&D Expenses](index=143&type=section&id=%E5%85%AB%E3%80%81%E7%A0%94%E5%8F%91%E6%94%AF%E5%87%BA) This section discloses that the company's total R&D expenses for the first half of 2025 amounted to 67,496,775.87 RMB, all of which were expensed, primarily for salaries and benefits, R&D materials, and R&D molds R&D Expenses by Nature of Expense | Item | Current Period Amount (RMB) | Prior Period Amount (RMB) | | :--- | :--- | :--- | | R&D Expenses | 67,496,775.87 | 57,232,985.68 | | Total | 67,496,775.87 | 57,232,985.68 | | Of which: Expensed R&D Expenses | 67,496,775.87 | 57,232,985.68 | | Capitalized R&D Expenses | - | - | [Changes in Consolidation Scope](index=144&type=section&id=%E4%B9%9D%E3%80%81%E5%90%88%E5%B9%B6%E8%8C%83%E5%9B%B4%E7%9A%84%E5%8F%98%E6%9B%B4) During the reporting period, the company had no changes in consolidation scope due to non-common control business combinations, common control business combinations, reverse acquisitions, or disposal of subsidiaries leading to loss of control, nor any other reasons - During the reporting period, the company had no non-common control business combinations, common control business combinations, reverse acquisitions, or disposal of subsidiaries leading to loss of control[503](index=503&type=chunk) [Interests in Other Entities](index=144&type=section&id=%E5%8D%81%E3%80%81%E5%9C%A8%E5%85%B6%E4%BB%96%E4%B8%BB%E4%BD%93%E4%B8%AD%E7%9A%84%E6%9D%83%E7%9B%8A) This section discloses the company's interests in subsidiaries and associates. The company owns wholly-owned subsidiaries such as Ways Japan, Huai'an Ways, and Vietnam Ways, and accounts for its investment in associate Chongqing Ways Optoelectronics Technology Co., Ltd. using the equity method Composition of the Enterprise Group | Subsidiary Name | Main Operating Location | Registered Capital | Business Nature | Shareholding Ratio (%) Direct | Acquisition Method | | :--- | :--- | :--- | :--- | :--- | :--- | | WAYS Co., Ltd. (Japan) | Japan | 10,000,000.00 JPY | Backlight R&D, Rubber Product R&D and Production | 100 | Business Combination Under Common Control | | Dongguan Ways Technology Co., Ltd. | Dongguan, China | 6,000,000.00 USD | Backlight R&D and Production, Rubber Product R&D and Production | 100 (Indirect) | Business Combination Under Common Control | | Ways Asia Co., Ltd. | Hong Kong, China | 10,000.00 HKD | Backlight, Rubber Product Related Procurement and Sales | 100 (Indirect) | Business Combination Under Common Control | | Huai'an Ways Technology Co., Ltd. | Huai'an, China | 100,000,000.00 RMB | Backlight Components and Accessories R&D and Production | 100 | Business Combination Under Common Control | | Vietnam Ways Technology Co., Ltd. | Vietnam | 5,000,000.00 USD | Backlight Components and Accessories R&D and Production | 100 | Establishment | Significant Associates | Associate Name | Main Operating Location | Registered Location | Business Nature | Shareholding Ratio (%) Direct | Accounting Method for Investment in Associates | | :--- | :--- | :--- | :--- | :--- | :--- | | Chongqing Ways Optoelectronics Technology Co., Ltd. | Chongqing, China | Chongqing, China | Backlight R&D and Production | 40 | Equity Method | [Government Grants](index=146&type=section&id=%E5%8D%81%E4%B8%80%E3%80%81%E6%94%BF%E5%BA%9C%E8%A1%A5%E5%8A%A9) At the end of the reporting period, the company's government grant liability balance was 26,439,359.38 RMB, with new grants of 4,000,000.00 RMB added during the period, and total government grants recognized in profit or loss amounting to 6,338,294.44 RMB, primarily including asset-related and income-related grants Liability Items Involving Government Grants | Financial Statement Item | Beginning Balance (RMB) | New Grants This Period (RMB) | Transferred to Other Income This Period (RMB) | Ending Balance (RMB) | Asset/Income Related | | :--- | :--- | :--- | :--- | :--- | :--- | | Equipment Subsidies | 20,299,876.21 | 4,000,000.00 | 812,289.32 | 23,487,586.89 | Asset-related | | Factory Lease Subsidies | 2,951,772.49 | - | - | 2,951,772.49 | Income-related | | Total | 23,251,648.70 | 4,000,000.00 | 812,289.32 | 26,439,359.38 | / | Government Grants Recognized in Profit or Loss for the Current Period | Type | Current Period Amount (RMB) | Prior Period Amount (RMB) | | :--- | :--- | :--- | | Asset-related | 812,289.32 | 146,988.55 | | Income-related | 5,526,005.12 | 2,932,860.42 | | Total | 6,338,294.44 | 3,079,848.97 | [Risks Related to Financial Instruments](index=147&type=section&id=%E5%8D%81%E4%BA%8C%E3%80%81%E4%B8%8E%E9%87%91%E8%9E%8D%E5%B7%A5%E5%85%B7%E7%9B%B8%E5%85%B3%E7%9A%84%E9%A3%8E%E9%99%A9) This section primarily discloses the company's financial asset transfers, where bank acceptance bills transferred by endorsement amounted to 7,998,251.58 RMB, which were derecognized due to the low credit risk of bank defaults Classification of Financial Asset Transfer Methods | Transfer Method | Nature of Transferred Financial Assets | Amount of Transferred Financial Assets (RMB) | Basis for Derecognition | | :--- | :--- | :--- | :--- | | Endorsement | Bank Acceptance Bills | 7,998,251.58 | Low credit risk due to bank default | [Fair Value Disclosure](index=148&type=section&id=%E5%8D%81%E4%B8%89%E3%80%81%E5%85%AC%E5%85%81%E4%BB%B7%E5%80%BC%E7%9A%84%E6%8A%AB%E9%9C%B2) This section discloses the fair value of the company's assets and liabilities measured at fair value at the end of the period, including equity instrument investments, accounts receivable financing, and short-term working capital loans, and explains valuation techniques and key parameters Fair Value Measurement Items at Period-End | Item | Level 2 Fair Value Measurement (RMB) | Level 3 Fair Value Measurement (RMB) | Total (RMB) | | :--- | :--- | :--- | :--- | | Equity Instrument Investments | 73,983,702.00 | - | 73,983,702.00 | | Accounts Receivable Financing | - | 143,953,366.77 | 143,953,366.77 | | Short-Term Working Capital Loans | - | 90,000,000.00 | 90,000,000.00 | | Total Assets Continuously Measured at Fair Value | 73,983,702.00 | 143,953,366.77 | 217,937,068.77 | | Total Liabilities Continuously Measured at Fair Value | - | 90,000,000.00 | 90,000,000.00 | - Financial assets measured at fair value through profit or loss – other equity instrument investments are valued using the **market approach**, with recent transaction prices as the main input[518](index=518&type=chunk) - Accounts receivable financing and short-term working capital loans are valued using the **discounted cash flow method**, with key unobservable inputs being the **expected discount rate (0.2%~1.55%)** and **expected loan interest rate (0%~5%)**[519](index=519&type=chunk) - The carrying values of financial assets and financial liabilities measured at amortized cost approximate their fair values[522](index=522&type=chunk) [Related Parties and Related Party Transactions](index=150&type=section&id=%E5%8D%81%E5%9B%9B%E3%80%81%E5%85%B3%E8%81%94%E6%96%B9%E5%8F%8A%E5%85%B3%E8%81%94%E4%BA%A4%E6%98%93) This section discloses the company's related parties, including WAYS Resort Hotel Co., Ltd. controlled by the same ultimate actual controller, company shareholders Watanabe Yoichi and Yamaguchi Masaru, and associate Chongqing Ways Optoelectronics Technology Co., Ltd. During the reporting period, the company engaged in transactions with related parties, including sales and purchases of goods, provision and acceptance of services, related leases, and related guarantees Other Related Party Information | Other Related Party Name | Relationship with the Company | | :--- | :--- | | WAYS Resort Hotel Co., Ltd. | Controlled by the same ultimate actual controller | | Watanabe Yoichi | Company Shareholder | | Yamaguchi Masaru | Company Shareholder and Director | | Chongqing Ways Optoelectronics Technology Co., Ltd. | Associate | Related Party Transactions for Purchase and Sale of Goods/Acceptance of Services | Related Party | Related Transaction Content | Current Period Amount (RMB) | | :--- | :--- | :--- | | Hot Spring Hotel | Acceptance of hotel services | 61,729.10 | Related Party Transactions for Sale of Goods/Provision of Services | Related Party | Related Transaction Content | Current Period Amount (RMB) | | :--- | :--- | :--- | | Chongqing Ways | Sale of goods | 0 | Related Lease Situations (as Lessor) | Lessee Name | Type of Leased Asset | Lease Income Recognized This Period (RMB) | | :--- | :--- | :--- | | Chongqing Ways | Property | 82,133.62 | Related Guarantee Situations (as Guaranteed Party) | Guarantor | Guarantee Amount (RMB) | Guarantee Start Date | Guarantee End Date | Guarantee Fulfilled | | :--- | :--- | :--- | :--- | :--- | | Yamaguchi Masaru, Watanabe Yoichi | 354,993.85 | 2016-1-29 | 2026-1-20 | No | | Watanabe Yoichi | 328,312.28 | 2024-12-23 | 2025-12-23 | No | Key Management Personnel Remuneration | Item | Current Period Amount (million RMB) | | :--- | :--- | | Key Management Personnel Remuneration | 4.02 | Accounts Receivable from Related Parties | Item Name | Related Party | Period-End Book Balance (RMB) | | :--- | :--- | :--- | | Accounts Receivable | Chongqing Ways | 6,000.00 | Accounts Payable to Related Parties | Item Name | Related Party | Period-End Book Balance (RMB) | | :--- | :--- | :--- | | Accounts Payable | Chongqing Ways | 0 | [Share-Based Payment](index=153&type=section&id=%E5%8D%81%E4%BA%94%E3%80%81%E8%82%A1%E4%BB%BD%E6%94%AF%E4%BB%98) The company's 2023 employee stock ownership plan granted shares to directors, supervisors, senior management, and core employees at 7.05 RMB/share, with stocks unlocking in three phases. Share-based payment expenses settled in equity for this period amounted to 2,030,636.74 RMB - The company's **2023 employee stock ownership plan** granted shares to company directors (excluding independent directors), supervisors, senior management, and core employees, with a grant price of **7.05 RMB/share**[535](index=535&type=chunk) - Stocks unlock in three phases: 12 months, 24 months, and 36 months from the stock transfer date, with unlocking ratios of **20%, 40%, and 40%** respectively[535](index=535&type=chunk) - Share-based payment expenses settled in equity for this period amounted to **2,030,636.74 RMB**[539](index=539&type=chunk) [Commitments and Contingencies](index=154&type=section&id=%E5%8D%81%E5%85%AD%E3%80%81%E6%89%BF%E8%AF%BA%E5%8F%8A%E6%88%96%E6%9C%89%E4%BA%8B%E9%A1%B9) As of the balance sheet date, the company had signed commitments for the construction of long-term assets amounting to 11,179,550.01 RMB that had not yet been recognized in

证券代码：605218 证券简称：伟时电子 公告编号：2025-030 伟时电子股份有限公司 关于取消监事会、修订《公司章程》并办理工商变更 登记事项、修订公司部分治理制度的公告 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个别及连带责任。 伟时电子股份有限公司（以下简称"公司"）根据2024年7月1日起实施的新 《公司法》及中国证监会发布的《关于新<公司法>配套制度规则实施相关过渡期 安排》《上市公司章程指引（2025年修订）》《上海证券交易所股票上市规则（ 2025年4月修订）》等相关法律法规、规章及其他规范性文件的规定，并结合公 司实际情况，公司于2025年8月28日召开了第三届董事会第七次会议和第三届监 事会第七次会议，审议通过了《关于取消监事会、修订<公司章程>并办理工商变 更登记事项的议案》以及《关于修订公司部分治理制度的议案》，具体情况如下： 一、取消监事会 为进一步完善公司治理结构，更好地促进规范运作，公司根据最新《公司法》 等法律法规、规章及其他规范性文件相关规定，结合公司实际情况，公司将不再 设置监事会，监事会的职 ...

证券代码：605218 证券简称：伟时电子 公告编号：2025-029 伟时电子股份有限公司 2025 年半年度募集资金存放与实际使用情况的专项报告 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个别及连带责任。 伟时电子股份有限公司(以下简称"公司"或"本公司")董事会根据中国证券监 督管理委员会《上市公司募集资金监管规则》及《上海证券交易所上市公司自律监管 指引第 1 号—规范运作》等相关规定，编制了截至 2025 年 6 月 30 日止首次公开发行 A 股股票募集资金存放与实际使用情况的专项报告。现将截至 2025 年 6 月 30 日止募 集资金存放与实际使用情况专项说明如下： 一、募集资金基本情况 经中国证券监督管理委员会《关于核准伟时电子股份有限公司首次公开发行股票 的批复》（证监许可[2020]1907 号）核准，2020 年 9 月 16 日，公司于上海证券交易 所以每股人民币 10.97 元的发行价格公开发行 53,208,365 股人民币普通股(A 股)，股 款合计人民币 583,695,764.05 元，扣除发行费 ...

伟时电子公告，2025年上半年营业收入9.77亿元，同比增长9.81%。净利润1948.08万元，同比增长 0.87%。本报告期不进行利润分配和公积金转增股本。 ...

Group 1 - The core point of the announcement is that Wang Xiaoqing has pledged a total of 12.77 million shares, which represents 100% of his holdings [2] - For the fiscal year 2024, the revenue composition of Weishi Electronics is as follows: Backlight display modules account for 74.77%, smart display components for 11.31%, liquid crystal display modules for 7.11%, rubber parts for 3.93%, and others for 2.03% [2]

证券代码：605218 证券简称：伟时电子 公告编号：2025-026 伟时电子股份有限公司 本次质押的股份不存在被用作重大资产重组业绩补偿等事项的担保或其他保障用途的情况。 2、股东累计质押股份情况 截至本公告披露日，上述股东累计质押股份情况如下： 关于持股 5%以上股东股份质押的公告 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个别及连带责任。 重要内容提示： 截至本公告披露日，伟时电子股份有限公司（以下简称"公司"）股东王晓晴先 生持有公司股份12,770,000股，占公司总股本的6%。本次质押股份12,770,000股，本 次质押完成后，王晓晴先生累计质押股份数量为12,770,000股，占其持有公司股份总 数的100.00%，占公司总股本的6.00%。 一、公司股份质押情况 公司于2025年8月15日获悉公司股东王晓晴先生所持有本公司的股份被质押，具体 情况如下： | 股东名 | 是否为控 | 本次质押股 | 是否为 | 是否 | 质押起 | | 质押到 | | 占其所 | 占公司 | 质押融 | | --- | --- | ...

Group 1 - The core point of the article is that shareholder Wang Xiaoqing has pledged all of her shares in Weishi Electronics, totaling 12,770,000 shares, which represents 6% of the company's total equity [1] - The pledge was made to Yantai Huazhou Investment Center (Limited Partnership) and is intended for Wang Xiaoqing's own business operations [1] - After this pledge, Wang Xiaoqing has a total of 12,770,000 pledged shares, which accounts for 100% of her holdings and 6% of the company's total equity [1]

Group 1 - The core point of the announcement is that the controlling shareholder and actual controller of Weishi Electronics, Watanabe Yōichi, has completed the transfer of 12,770,000 shares to Wang Xiaoqing, making Wang a shareholder with over 5% ownership [1][2]. - The share transfer was executed at a price of 19.75 yuan per share, totaling 252,207,500 yuan, and the shares were acquired before the company's IPO [1][2]. - The transfer was officially registered on August 13, 2025, and the company has confirmed that this transaction complies with relevant laws and regulations, ensuring no significant impact on corporate governance or operations [2][3]. Group 2 - After the share transfer, the holding structure of the controlling shareholder, actual controller, and the transferee has been updated, although specific details were not disclosed in the announcement [3]. - The agreement stipulates that Wang Xiaoqing will not reduce his holdings of the transferred shares for a period of eighteen months [1][3]. - The company emphasizes that the transfer does not trigger a mandatory bid and will not alter the control of the company [3].