Financial Performance - Company reported a total revenue of 692 million yuan for the first half of 2025, a year-on-year increase of 5.3% [1] - The net profit attributable to shareholders was -12.18 million yuan, representing a year-on-year decline of 159.98% [1] - The gross margin decreased to 5.68%, down 49.94% year-on-year, while the net margin fell to -1.76%, a decrease of 156.96% [1] - Total expenses (selling, administrative, and financial) amounted to 47.71 million yuan, accounting for 6.9% of revenue, an increase of 43.9% year-on-year [1] - Earnings per share were -0.17 yuan, a decline of 160.71% compared to the previous year [1] Business Overview - Company specializes in the research, production, and sales of semiconductor display devices and specialty adhesive materials [3] - Key products include polarizers, functional devices, signal connectors, and LCD panels, primarily used in consumer electronics such as TVs, smartphones, and tablets [3] - Company has established strong partnerships with leading display panel manufacturers like BOE, Huike, and Foxconn [4] Strategic Focus - Company is implementing a "big and small" development strategy, focusing on large-size screens with ultra-high definition (4K/8K) and small-size screens with functional devices [4] - Recently entered the semiconductor core materials sector through the investment in a photomask manufacturing project [4]

Core Viewpoint - Guan Shi Technology reported a decrease in shareholder accounts and an increase in average shareholding value, indicating a shift in investor sentiment despite a recent stock price increase [1][2]. Summary by Category Shareholder Information - As of July 31, 2025, the number of shareholders for Guan Shi Technology was 11,904, a decrease of 865 accounts or 6.77% from July 10, 2025 [1][2]. - The average number of shares held per account increased from 5,755 shares to 6,172 shares, with an average market value of 292,500 yuan per account [1][2]. - Compared to the optical and optoelectronic industry average, Guan Shi Technology's shareholder count is below the industry average of 68,200 accounts, while its average shareholding value exceeds the industry average of 164,300 yuan [1]. Stock Performance - From July 10 to July 31, 2025, Guan Shi Technology's stock price increased by 3.72%, despite the reduction in shareholder accounts [1][2]. - The stock experienced a previous decline of 5.28% from June 30 to July 10, 2025, and a notable increase of 42.49% from March 31, 2025 [2]. Capital Flow - During the period from July 10 to July 31, 2025, the net inflow of funds from major investors was 7.63 million yuan, while retail investors contributed a net inflow of 11.31 million yuan [2]. - Conversely, speculative funds saw a net outflow of 18.94 million yuan during the same period [2].

Core Viewpoint - Nanjing Guanshi Technology Co., Ltd. reported a decline in net profit and total profit for the first half of 2025, despite a slight increase in revenue, indicating challenges in the semiconductor display industry and the impact of increased costs and investments in new projects [2][3][8]. Company Overview and Financial Indicators - The company achieved operating revenue of approximately 691.55 million yuan, a 5.30% increase compared to the same period last year [2][3]. - Total profit was reported at approximately -23.76 million yuan, a significant decrease of 226.86% year-on-year [2][3]. - The net profit attributable to shareholders was approximately -12.18 million yuan, down 159.98% from the previous year [2][3]. - The net cash flow from operating activities increased by 95.53% to approximately 92.48 million yuan [2][3]. Industry and Main Business Situation - The global display panel capacity is increasingly shifting to mainland China, with predictions indicating that by 2025, mainland China's LCD panel capacity will account for 64% of the global total [3][8]. - The demand for upstream materials, such as polarizers, is expected to rise due to this capacity shift, benefiting local manufacturers [3][8]. - The professional display market is expanding, with LCD technology maintaining a competitive edge over OLED in various applications, driven by advancements in 5G, big data, and AI [3][8]. - The industrial display market is projected to grow at a compound annual growth rate of 6%, reaching a market size of approximately $7.26 billion by 2025 [3][8]. Main Products and Services - The company specializes in semiconductor display devices and special adhesive materials, including polarizers, functional devices, signal connectors, and LCD panels [3][8]. - Polarizers are critical components for all display screens, and the company has established a strong production capability in this area, covering sizes from 11 inches to 100 inches [3][8]. - The company is also expanding into the photomask manufacturing sector, with a planned investment of 1.61 billion yuan, aiming to fill gaps in domestic advanced photomask production [3][8]. Operational Analysis - The company has maintained stable production capacity for polarizers and has successfully established production lines for LCD panels [3][8]. - The company is focusing on enhancing its market presence in special adhesive materials, particularly in the automotive sector, which is experiencing significant growth due to electrification trends [3][8]. - The company has implemented automated production lines to improve efficiency and reduce costs, while also enhancing product quality through rigorous quality control measures [3][8].

Core Viewpoint - Nanjing Keystone Technology Co., Ltd. reported a significant decline in net profit and total profit for the first half of 2025, indicating potential challenges in its operational performance despite a slight increase in revenue [1]. Financial Performance - Total assets at the end of the reporting period were approximately CNY 2.84 billion, a decrease of 0.39% compared to the end of the previous year [1]. - Operating revenue reached approximately CNY 691.55 million, reflecting a year-on-year increase of 5.30% [1]. - Total profit for the period was approximately -CNY 23.76 million, a decline of 226.86% compared to the previous year [1]. - Net profit attributable to shareholders was approximately -CNY 12.18 million, representing a decrease of 159.98% year-on-year [1]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was approximately -CNY 21.26 million, a decline of 234.02% compared to the previous year [1]. - The weighted average return on net assets decreased to -1.18%, down 3.09 percentage points from the previous year [1]. - Basic and diluted earnings per share were both -CNY 0.17, a decrease of 160.71% year-on-year [1]. Shareholder Information - The total number of shareholders at the end of the reporting period was 13,617 [1]. - The largest shareholder, Zhang Jianwei, holds 57.34% of the shares, amounting to 42,133,333 shares [2].

Core Points - The board of directors of Nanjing Guanshi Technology Co., Ltd. held its 27th meeting on August 28, 2025, where all five attending directors approved the agenda items [1][2] - The meeting reviewed and approved the 2025 semi-annual report and its summary, with unanimous support from the directors [1] - The meeting also approved the special report on the storage and use of raised funds for the first half of 2025, again with unanimous support [2] Summary by Category - **Meeting Details** - The meeting was held in person at the company's conference room, with all five directors present [1] - The meeting complied with the Company Law of the People's Republic of China and the company's articles of association [1] - **Approved Resolutions** - The 2025 semi-annual report and its summary were approved unanimously [1] - The special report on the storage and use of raised funds for the first half of 2025 was also approved unanimously [2] - **Disclosure** - Detailed information regarding the semi-annual report and the special report on raised funds is available on the Shanghai Stock Exchange website [1][2]

Group 1 - The core viewpoint of the announcement is that Nanjing Guanshi Technology Co., Ltd. held its 22nd meeting of the second supervisory board on August 28, 2025, where the half-year report and its summary were approved unanimously by the supervisors [1][2] - The supervisory board confirmed that the preparation and review procedures of the 2025 half-year report comply with relevant laws, regulations, and internal management systems [2] - The content and format of the 2025 half-year report meet the requirements of the China Securities Regulatory Commission and the Shanghai Stock Exchange, accurately reflecting the company's operational results and financial status during the reporting period [2] Group 2 - The supervisory board also approved the special report on the storage and use of raised funds for the first half of 2025, with unanimous support from all supervisors [2] - Detailed information regarding the half-year report and the special report on raised funds is available on the Shanghai Stock Exchange website [2]

Summary of Key Points Core Viewpoint The report provides a detailed account of Nanjing Guanshi Technology Co., Ltd.'s fundraising activities, including the amount raised, its usage, and management practices, ensuring compliance with regulatory requirements and protecting investor interests. Group 1: Fundraising Overview - The company raised a total of RMB 501,100,500 through the issuance of 18,275,000 shares at RMB 27.42 per share, with net proceeds amounting to RMB 455,867,927.74 after deducting issuance costs [1][2][3] - As of June 30, 2025, the company has utilized RMB 380,779,938.44 of the raised funds, leaving a remaining balance of RMB 98,261,870.03 [1][2][3] - The total amount used in the first half of 2025 was RMB 118,935,655.08, with previous years accounting for RMB 261,844,283.36 [1][2][3] Group 2: Fund Management Practices - The company has established a fundraising management system in compliance with relevant laws and regulations, ensuring funds are stored in dedicated bank accounts [1][2][3] - A tripartite supervision agreement was signed with banks and the sponsor to regulate the use and storage of the funds, which has been strictly adhered to [1][2][3] - As of June 30, 2025, the company has canceled the fundraising accounts as per the regulatory requirements [1][2][3] Group 3: Fund Usage and Project Updates - The company has invested RMB 11,893.56 million in fundraising projects during the reporting period, with a cumulative investment of RMB 38,077.99 million [5][6][7] - A significant portion of the funds has been redirected to the "Photomask Manufacturing Project," with 56.27% of the total funds being reallocated due to market demand fluctuations [5][6][7] - The company has not encountered any issues with the use of funds, and all activities have been reported transparently [5][6][7]

Summary of Key Points Core Viewpoint - The company has recognized impairment losses totaling 5,335,764.04 RMB for the first half of 2025, reflecting a thorough assessment of its financial condition and operational results as of June 30, 2025 [1][4]. Group 1: Impairment Losses Breakdown - The impairment losses include: - Bad debt losses from notes receivable: -4,918.00 RMB - Bad debt losses from accounts receivable: -1,364,115.20 RMB - Bad debt losses from financing receivables: 2,806.57 RMB - Bad debt losses from other receivables: 1,556,522.65 RMB - Inventory write-down losses: 4,262,674.60 RMB - Fixed asset impairment losses: 882,793.42 RMB - Total impairment losses: 5,335,764.04 RMB [2]. Group 2: Impairment Recognition Standards - The company follows the accounting standards for inventory and asset impairment, which require that if the net realizable value of an asset is lower than its cost, an impairment provision must be made [3]. - The recoverable amount of an asset is determined based on the higher of its fair value less costs to sell and the present value of expected future cash flows [3]. Group 3: Financial Impact - The total impairment provisions of 5,335,764.04 RMB will reduce the company's consolidated profit for the first half of 2025 by the same amount, ensuring a fair representation of the company's financial status and asset values [4]. - The impairment provisions are in compliance with relevant accounting standards and policies, and they do not adversely affect the company's normal operations or shareholder interests [4].

Core Viewpoint - Nanjing Keystone Technology Co., Ltd. will hold a half-year performance briefing on September 12, 2025, to discuss its operational results and financial status for the first half of 2025, addressing investor concerns through interactive communication [1][2]. Group 1: Meeting Details - The meeting is scheduled for September 12, 2025, from 15:00 to 17:00 [2][3]. - It will take place at the Shanghai Stock Exchange Roadshow Center, accessible via the website: https://roadshow.sseinfo.com/ [2][3]. - The format will include video recording and online interaction [2][3]. Group 2: Participation Information - Investors can submit questions from September 5, 2025, to September 11, 2025, before 16:00 through the Roadshow Center's "Pre-Question Collection" section or via the company's email [3]. - The company will respond to commonly asked questions during the briefing [3]. Group 3: Participants - Key participants include Chairman Zhang Jianwei, General Manager Men Fangfang, Secretary of the Board Wang Shunli, Financial Director Pan Xinyue, and Independent Directors Liu Hanming and Jiang Xiaosan [2].

证券代码：605588 证券简称：冠石科技 公告编号：2025-047 南京冠石科技股份有限公司 第二届监事会第二十二次会议决议公告 监事会认为，1、公司 2025 年半年度报告及其摘要编制和审议程序符合法律、 法规、《公司章程》和相关内部管理制度的各项规定；2、公司 2025 年半年度报 告及其摘要的内容和格式符合中国证监会和上海证券交易所的各项规定，所包含 的信息能真实、准确、完整地反映出公司报告期内的经营成果和财务状况等事项； 3、在提出本意见前，未发现参与公司 2025 年半年度报告及其摘要编制和审议的 人员有违反保密规定的行为。 具体情况详见公司同日在上海证券交易所网站（www.sse.com.cn）披露的 《2025 年半年度报告》及《2025 年半年度报告摘要》。 二、关于《2025 年半年度募集资金存放及使用情况的专项报告》的议案 同意 3 票，反对 0 票，弃权 0 票。 具体情况详见公司同日在上海证券交易所网站（www.sse.com.cn）披露的《关 于 2025 年半年度募集资金存放及使用情况的专项报告》。 特此公告。 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 ...