1 江苏联测机电科技股份有限公司 制度编号：ZD-BO-022 江苏联测机电科技股份有限公司 防范控股股东、实际控制人 及其关联方占用公司资金的制度 第一条 根据《中华人民共和国公司法》《中华人民共和国证券法》(以下简称"《证 券法》")等有关法律、法规及规范性文件的要求以及《江苏联测机电科技股 份有限公司章程》(以下简称"公司章程")、《江苏联测机电科技股份有限公司 关联交易管理制度》(以下简称"《关联交易管理制度》")的有关规定, 为避免 控股股东、实际控制人及其关联方占用江苏联测机电科技股份有限公司(以下 简称"公司")资金行为, 进一步维护公司全体股东和债权人的合法权益, 建立起 公司防范控股股东、实际控制人及其关联方占用公司资金的长效机制, 特制 定本制度。 第二条 本制度所称资金占用包括但不限于: 经营性资金占用和非经营性资金占用。 经营性资金占用是指控股股东、实际控制人及其关联方通过采购、销售等生 产经营环节的关联交易产生的资金占用; 非经营性资金占用是指代控股股 东、实际控制人及其关联方垫付工资、福利、保险、广告等费用和其他支出, 代控股股东、实际控制人及其关联方偿还债务而支付资金, 有偿或无 ...

江苏联测机电科技股份有限公司 制度编号：ZD-BO-014 江苏联测机电科技股份有限公司 对外投资管理制度 第一章 总则 第二章 审批权限 第一条 为了加强江苏联测机电科技股份有限公司(以下简称"公司")投资活动的 管理, 规范公司的投资行为, 建立有效的投资风险约束机制, 保护公司 和股东的利益, 根据《中华人民共和国公司法》《中华人民共和国证券法》 《上海证券交易所科创板股票上市规则》(以下简称"《上市规则》") 等法律、法规和规范性文件以及《江苏联测机电科技股份有限公司章程》 (以下简称"公司章程")的有关规定, 并结合公司具体情况制定本制度。 第二条 本制度适用于公司及下属控股子公司的对外投资行为。本制度所称对外 投资, 是指公司及控股子公司以现金、实物、无形资产等方式进行各种形 式的投资活动及项目退出行为, 包括但不限于: (一) 新设立企业(包括合伙企业)的股权或权益性投资; (二) 以新增或购买存量权益的方式取得或增加被投资企业权益; (三) 项目合作方式的投资; (四) 股票、基金投资; (五) 债券、委托贷款及其他债权投资; (六) 法律、行政法规及规范性文件规定的其他投资。 第三条 根据国 ...

江苏联测机电科技股份有限公司 制度编号：ZD-BO-004 江苏联测机电科技股份有限公司 独立董事工作制度 第一章 总则 公司在董事会中设置审计委员会。审计委员会成员应当为不在公司担任高级 1 第一条 为完善江苏联测机电科技股份有限公司(以下简称"公司")治理结构, 促进公 司规范运作, 维护公司和股东的利益, 根据《中华人民共和国公司法》(以下 简称"《公司法》")、《上市公司独立董事管理办法》(以下简称"《管理办法》") 以及《江苏联测机电科技股份有限公司章程》(以下简称"公司章程")的有 关规定, 并结合公司实际情况, 制定本制度。 第二条 独立董事是指不在公司担任除董事外的其他职务, 并与公司及其主要股东、 实际控制人不存在直接或者间接利害关系, 或者其他可能影响其进行独立客 观判断关系的董事。 第三条 独立董事对公司及全体股东负有诚信与勤勉义务。独立董事应当按照有关法 律、行政法规、中国证券监督管理委员会(以下简称"中国证监会")规定、 证券交易所业务规则和公司章程的要求, 认真履行职责, 在董事会中发挥参 与决策、监督制衡、专业咨询作用, 维护公司整体利益, 保护中小股东的合法 权益不受损害。 第 ...

江苏联测机电科技股份有限公司 制度编号：ZD-BO-019 第一条 为进一步完善公司法人治理结构、维护中小股东利益, 规范公司董事选举, 根 据《中华人民共和国公司法》(以下简称"《公司法》")、《中华人民共和国证 券法》(以下简称"《证券法》")和《江苏联测机电科技股份有限公司章程》(以 下简称"《公司章程》")及其他有关规定, 特制定本细则。 第二条 本细则所指的累积投票制, 是指股东会在选举两名或两名以上董事时采用的 一种投票方式。即公司股东会选举董事时, 股东所持的每一股份拥有与该次 股东会拟选举董事人数相同的表决权, 股东拥有的投票权等于该股东持有股 份数与应选董事总人数的乘积。股东既可以用所有投票权集中投票选举一位 候选董事, 也可以分散投票给数位候选董事。 第三条 股东会选举产生的董事人数及结构应符合《公司章程》的规定。 第四条 本细则所称"董事"包括独立董事和非独立董事。由职工担任的董事由公司职工 代表大会、职工大会或者其他形式民主选举产生或更换,不适用于本细则的相 关规定。 第一章 总则 第五条 公司董事候选人提名应符合《公司法》《公司章程》等法律、法规及公司内部 规章要求。 第六条 股东会 ...

[Important Notice](index=2&type=section&id=%E9%87%8D%E8%A6%81%E6%8F%90%E7%A4%BA) [Significant Risk Warning](index=2&type=section&id=%E4%BA%8C%E3%80%81%E9%87%8D%E5%A4%A7%E9%A3%8E%E9%99%A9%E6%8F%90%E7%A4%BA) The company has disclosed potential risks in detail in the report, advising investors to refer to "Section 3, Management Discussion and Analysis," "IV. Risk Factors" - The company has described potential risks in detail in this report; investors are advised to refer to "Section 3, Management Discussion and Analysis," "IV. Risk Factors" [3](index=3&type=chunk) [Audit Status](index=2&type=section&id=%E5%9B%9B%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 has not been audited - This semi-annual report has not been audited [4](index=4&type=chunk) [Profit Distribution Plan](index=2&type=section&id=%E5%85%AD%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 approved the 2025 semi-annual profit distribution plan, proposing a cash dividend of 2.48 yuan (tax inclusive) per 10 shares to all shareholders, totaling 15,969,602.63 yuan, representing 30.16% of net profit attributable to ordinary shareholders; no capital reserve conversion or bonus shares are planned, and the proposal awaits shareholder approval 2025 Semi-Annual Profit Distribution Plan | Indicator | Amount/Ratio | | :--- | :--- | | Cash dividend per 10 shares (tax inclusive) | 2.48 yuan | | Total proposed cash dividend (tax inclusive) | 15,969,602.63 yuan | | Ratio to net profit attributable to ordinary shareholders | 30.16% | | Capital reserve conversion to share capital | Not applicable | | Bonus shares | Not applicable | - This profit distribution plan is subject to approval by the company's first extraordinary general meeting of shareholders in 2025 [5](index=5&type=chunk) [Risk Statement for Forward-Looking Statements](index=2&type=section&id=%E5%85%AB%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) The company reminds investors that forward-looking statements in this report, such as future plans and development strategies, do not constitute a substantive commitment to investors and involve investment risks - Forward-looking statements in this report, including future plans and development strategies, do not constitute a substantive commitment by the company to investors; investors are advised to be aware of investment risks [7](index=7&type=chunk) [Section I Definitions](index=5&type=section&id=%E7%AC%AC%E4%B8%80%E8%8A%82%20%E9%87%8A%E4%B9%89) [Definitions of Common Terms](index=5&type=section&id=%E5%B8%B8%E7%94%A8%E8%AF%8D%E8%AF%AD%E9%87%8A%E4%B9%89) This section defines common terms used in the report, including company and subsidiary names, key customers, industry organizations, and technical terms like new energy vehicles, engines, powertrains, dynamometers, and NVH, to ensure accurate understanding of the report content - The report provides detailed definitions for the company, its subsidiaries, major customers (e.g., SAIC Group, Huawei, NIO), industry organizations (e.g., CATARC, MIIT), and specialized technical terms (e.g., new energy vehicles, engines, powertrains, dynamometers, NVH) [12](index=12&type=chunk)[13](index=13&type=chunk)[14](index=14&type=chunk) [Section II Company Profile and Key Financial Indicators](index=7&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) [Company Basic Information](index=7&type=section&id=%E4%B8%80%E3%80%81%E5%85%AC%E5%8F%B8%E5%9F%BA%E6%9C%AC%E6%83%85%E5%86%B5) This section outlines the basic information of Jiangsu LianCe Mechatronics Technology Co., Ltd., including its name, registered address, legal representative, website, and email, confirming no changes during the reporting period - The company's Chinese name is Jiangsu LianCe Mechatronics Technology Co., Ltd., abbreviated as LianCe Technology, with Zhao Aiguo as the legal representative, and its registered and office address at No. 2368-2370 Renmin West Road, Qidong City [16](index=16&type=chunk)[17](index=17&type=chunk) [Contact Person and Information](index=8&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) This section provides the contact details for the company's Board Secretary (domestic representative for information disclosure) and Securities Affairs Representative, both He Ping, including name, address, phone, fax, and email - The Board Secretary (domestic representative for information disclosure) and Securities Affairs Representative are both He Ping, with the contact address at No. 2368-2370 Renmin West Road, Qidong City, phone and fax at 0513-85636573, and email at zqsw@qdceqi.com [18](index=18&type=chunk) [Information Disclosure and Document Availability](index=8&type=section&id=%E4%B8%89%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 and Securities Times for information disclosure, with the semi-annual report published on www.sse.com.cn and available at the company's Board Office, with no changes during the reporting period - The company's designated information disclosure newspapers are Shanghai Securities News (www.cnstock.com) and Securities Times (www.stcn.com), the website for the semi-annual report is www.sse.com.cn, and the company's semi-annual report is available at the Board Office, with no changes during the reporting period [19](index=19&type=chunk) [Company Stock Overview](index=8&type=section&id=%E5%9B%9B%E3%80%81%E5%85%AC%E5%8F%B8%E8%82%A1%E7%A5%A8%2F%E5%AD%98%E6%89%98%E5%87%AD%E8%AF%81%E7%AE%80%E5%86%B5) The company's stock is A-shares, listed on the STAR Market of the Shanghai Stock Exchange, with stock abbreviation LianCe Technology and stock code 688113, with no previous stock abbreviation - The company's stock type is A-shares, listed on the STAR Market of the Shanghai Stock Exchange, with stock abbreviation **LianCe Technology** and stock code **688113**, with no previous stock abbreviation [20](index=20&type=chunk) [Key Accounting Data and Financial Indicators](index=9&type=section&id=%E5%85%AD%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 6.04% to 255 million yuan, and net profit attributable to shareholders increased by 13.12% to 52.94 million yuan; basic earnings per share were 0.82 yuan, up 12.33%, and R&D investment as a percentage of operating revenue was 7.33%, an increase of 0.45 percentage points Key Accounting Data for H1 2025 | Key Accounting Data | Current Period (Jan-Jun) (yuan) | Prior Year Period (yuan) | Current Period vs. Prior Year Period Change (%) | | :--- | :--- | :--- | :--- | | Operating Revenue | 254,671,947.23 | 240,156,270.59 | 6.04 | | Total Profit | 60,549,974.73 | 54,401,443.93 | 11.30 | | Net Profit Attributable to Shareholders of Listed Company | 52,943,739.44 | 46,802,921.63 | 13.12 | | Net Profit Attributable to Shareholders of Listed Company After Deducting Non-Recurring Gains and Losses | 52,885,786.11 | 45,819,224.78 | 15.42 | | Net Cash Flow from Operating Activities | 37,512,527.70 | 31,883,980.55 | 17.65 | | Net Assets Attributable to Shareholders of Listed Company (Period-End) | 961,936,767.40 | 918,523,078.02 | 4.73 | | Total Assets (Period-End) | 1,445,160,406.67 | 1,311,446,292.51 | 10.20 | Key Financial Indicators for H1 2025 | Key Financial Indicators | Current Period (Jan-Jun) | Prior Year Period | Current Period vs. Prior Year Period Change (%) | | :--- | :--- | :--- | :--- | | Basic Earnings Per Share (yuan/share) | 0.82 | 0.73 | 12.33 | | Diluted Earnings Per Share (yuan/share) | 0.82 | 0.72 | 13.89 | | Basic Earnings Per Share After Deducting Non-Recurring Gains and Losses (yuan/share) | 0.82 | 0.72 | 13.89 | | Weighted Average Return on Net Assets (%) | 5.59 | 5.22 | 0.37 | | Weighted Average Return on Net Assets After Deducting Non-Recurring Gains and Losses (%) | 5.58 | 5.11 | 0.47 | | R&D Investment as a Percentage of Operating Revenue (%) | 7.33 | 6.88 | 0.45 | [Non-Recurring Gains and Losses Items and Amounts](index=9&type=section&id=%E5%85%AB%E3%80%81%E9%9D%9E%E5%B8%B8%E8%90%A5%E6%80%A7%E6%8D%9F%E7%9B%8A%E9%A1%B9%E7%9B%AE%E5%92%8C%E9%87%91%E9%A2%9D) The company's total non-recurring gains and losses for H1 2025 amounted to 57,953.33 yuan, primarily including disposal gains/losses on non-current assets, government grants, fair value changes and disposal gains/losses on financial assets, and other non-operating income/expenses Non-Recurring Gains and Losses Items for H1 2025 | Non-Recurring Gains and Losses Item | Amount (yuan) | | :--- | :--- | | Disposal gains/losses on non-current assets | -832,622.72 | | Government grants recognized in current profit or loss | 142,531.94 | | Fair value changes and disposal gains/losses on financial assets and liabilities | 682,038.15 | | Other non-operating income and expenses | 231,740.08 | | Less: Income tax impact | 54,795.00 | | Minority interest impact (after tax) | 110,939.12 | | Total | 57,953.33 | [Net Profit After Deducting Share-Based Payment Impact](index=10&type=section&id=%E4%B9%9D%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) The company's net profit after deducting the impact of share-based payments for H1 2025 was 57.87 million yuan, an increase of 14.95% year-on-year Net Profit After Deducting Share-Based Payment Impact | Key Accounting Data | Current Period (Jan-Jun) (yuan) | Prior Year Period (yuan) | Current Period vs. Prior Year Period Change (%) | | :--- | :--- | :--- | :--- | | Net profit after deducting share-based payment impact | 57,871,639.42 | 50,343,485.39 | 14.95 | [Section III Management Discussion and Analysis](index=11&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) [Industry and Main Business Overview](index=11&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) As a powertrain testing solutions provider, the company's main business includes R&D, manufacturing, and sales of intelligent testing equipment, and testing and validation services, primarily for new energy vehicles, fuel vehicles, marine, and aerospace sectors, benefiting from policy support and domestic substitution trends [Description of Main Business](index=11&type=section&id=1%E3%80%81%E4%B8%BB%E8%A6%81%E4%B8%9A%E5%8A%A1%E8%AF%B4%E6%98%8E) The company's main business is the R&D, manufacturing, and sales of intelligent powertrain testing equipment, and providing testing and validation services, widely applied in new energy vehicles, fuel vehicles, marine, and aerospace; it possesses high-torque, high-speed, high-power, high-precision, and high-dynamic response testing capabilities, with independently developed, fully proprietary intelligent software platforms covering the entire testing process - The company's main business involves the R&D, manufacturing, and sales of intelligent powertrain testing equipment, along with providing powertrain testing and validation services [31](index=31&type=chunk) - Products and services are primarily applied in powertrain testing for new energy vehicles, fuel vehicles, marine, and aerospace sub-sectors [31](index=31&type=chunk) - The company has independently developed a software platform covering test preparation, simulation, process, and data analysis, featuring modular, integrated, collaborative, and open functions, forming a fully independent intellectual property software system [31](index=31&type=chunk) - Downstream customers include SAIC Group, Huawei, NIO, Weichai Group, China State Shipbuilding Corporation, and AECC Southern Industrial, among other renowned enterprises and research institutes [32](index=32&type=chunk)[33](index=33&type=chunk)[34](index=34&type=chunk) [Industry Overview](index=12&type=section&id=2%E3%80%81%E8%A1%8C%E4%B8%9A%E6%83%85%E5%86%B5%E8%AF%B4%E6%98%8E) China's powertrain testing industry, a key support for strategic emerging industries, is rapidly developing due to downstream manufacturing upgrades and national policy support; new energy vehicle sales growth drives testing demand, stricter emission standards push fuel vehicle testing towards high precision and energy efficiency, while green development in shipbuilding and domestic substitution in aerospace also create vast opportunities - China's powertrain testing industry started late, with the high-end market long dominated by foreign manufacturers, but it is experiencing rapid development driven by downstream manufacturing transformation, upgrading, and innovation [35](index=35&type=chunk)[36](index=36&type=chunk)[37](index=37&type=chunk) - New energy vehicle production and sales increased by **34.43%** and **35.50%** respectively in 2024, with increased R&D and fixed asset investment promoting the vigorous development of the powertrain testing industry [38](index=38&type=chunk)[40](index=40&type=chunk) - While fuel vehicle production and sales have declined, stricter emission requirements and regulations are driving powertrain testing towards high precision, high response, and energy efficiency [42](index=42&type=chunk)[43](index=43&type=chunk) - The shipbuilding industry saw significant growth in completions, new orders, and order backlog in 2024, and the green development action plan will promote the localization, large-scale, high-speed, and energy-efficient development of marine powertrain testing [44](index=44&type=chunk)[45](index=45&type=chunk) - The aerospace sector has substantial demand for aero-engine testing, and with accelerated localization, the company will benefit from the historic opportunity of domestic substitution [46](index=46&type=chunk)[47](index=47&type=chunk) [Company's Main Business Model](index=16&type=section&id=3%E3%80%81%E5%85%AC%E5%8F%B8%E4%B8%BB%E8%A6%81%E7%BB%8F%E8%90%A5%E6%A8%A1%E5%BC%8F) The company primarily secures sales contracts through bidding or direct negotiation, adopts a "production-driven procurement" model for raw materials, customizes intelligent powertrain testing equipment, and generates revenue and profit by selling equipment and providing testing and validation services, with a sales model predominantly direct sales, supplemented by distribution - Profit Model: Generates revenue and profit by selling intelligent testing equipment and providing testing and validation services [48](index=48&type=chunk) - Procurement Model: Primarily adopts a **"production-driven customized procurement"** model for raw materials, including electrical control, mechanical, motor drive control, and metal materials [48](index=48&type=chunk) - Sales Model: Predominantly **direct sales**, supplemented by distribution, serving manufacturers and research institutes in new energy/fuel vehicles, marine, and aerospace sectors [48](index=48&type=chunk) - Production Model: Implements **order-based non-standard production**, project management, with some components outsourced for processing [49](index=49&type=chunk) [Discussion and Analysis of Operations](index=16&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) In H1 2025, the company maintained stable operational growth, with operating revenue increasing by 6.04% to 255 million yuan, and net profit attributable to shareholders rising by 13.12% to 52.94 million yuan; revenue from intelligent testing equipment decreased in proportion, while testing and validation services revenue significantly increased H1 2025 Operating Performance | Indicator | Amount (10,000 yuan) | Year-on-Year Growth (%) | | :--- | :--- | :--- | | Operating Revenue | 25,467.19 | 6.04 | | Net Profit Attributable to Shareholders of Listed Company | 5,294.37 | 13.12 | | Net Profit Attributable to Shareholders of Listed Company After Deducting Share-Based Payment Impact | 5,787.16 | 14.95 | - The company's intelligent powertrain testing equipment order backlog, including tax, amounted to **570 million yuan**, a year-on-year increase of **25.80%** [49](index=49&type=chunk) H1 2025 Main Business Revenue by Product | Product Category | H1 2025 Amount (10,000 yuan) | Percentage of Operating Revenue (%) | H1 2024 Amount (10,000 yuan) | Percentage of Operating Revenue (%) | Change (%) | | :--- | :--- | :--- | :--- | :--- | :--- | | Intelligent Testing Equipment | 16,219.64 | 63.69 | 18,087.18 | 75.31 | -10.33 | | Testing and Validation Services | 4,673.77 | 18.35 | 1,515.37 | 6.31 | 208.42 | | Total | 20,893.41 | 82.04 | 19,602.55 | 81.62 | 6.59 | [Analysis of Core Competencies](index=17&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) The company's core competencies include industry-leading technology, a mature software platform, long-term stable high-quality customers, a stable and experienced management team, and a first-mover advantage in the aerospace sector, with continuous R&D investment, numerous patents and software copyrights, and technological breakthroughs and market recognition across various domains [Core Competencies Analysis](index=17&type=section&id=(%E4%B8%80)%E6%A0%B8%E5%BF%83%E7%AB%9E%E4%BA%89%E5%8A%9B%E5%88%86%E6%9E%90) The company's core competencies include advanced technology and experience in powertrain testing, numerous patents and software copyrights, an independently developed mature software platform supporting multi-domain testing, long-term stable customer relationships with renowned enterprises and research institutes, an experienced management team and core technical personnel, and a first-mover advantage in aero-engine testing technology and domestic substitution - The company holds **23 invention patents**, **108 utility model patents**, **2 design patents**, and **54 software copyrights** [52](index=52&type=chunk) - In new energy vehicles, the company developed a整车模拟台架 (complete vehicle simulation test bench) to achieve four-motor high-dynamic road load testing; in fuel vehicles, it manufactures integrated quick-connect automotive test lines and containerized test cells; in marine, it provides high-power density, large-torque hydraulic dynamometers; in aerospace, it achieved breakthroughs in high-speed hydraulic dynamometer manufacturing, enabling the first application of domestic high-speed hydraulic dynamometers in aero-engine test benches [53](index=53&type=chunk) - The company's independently developed software platform covers test preparation, simulation, process, and data analysis, featuring a fully transparent architecture, full graphical interface, automatic testing, cloud storage, and supports INCA, ASAM, ASAP3 interfaces, and DBC files [55](index=55&type=chunk) - The company boasts high-quality customers including SAIC Group, Huawei, NIO, Weichai Group, China State Shipbuilding Corporation, and AECC Southern Industrial, among others [57](index=57&type=chunk)[58](index=58&type=chunk) - Most of the company's core management and technical personnel have been with the company since its inception and directly or indirectly hold company shares, ensuring team stability and development momentum [59](index=59&type=chunk) - The company possesses high-speed hydraulic dynamometer manufacturing technology in the aerospace sector, and as a domestic pioneer, it benefits from the vast opportunities brought by accelerated domestic substitution [59](index=59&type=chunk) [Core Technologies and R&D Progress](index=19&type=section&id=(%E4%B8%89)%E6%A0%B8%E5%BF%83%E6%8A%80%E6%9C%AF%E4%B8%8E%E7%A0%94%E5%8F%91%E8%BF%9B%E5%B1%95) The company possesses ten core technologies, including comprehensive testing for new energy vehicle powertrains, high-dynamic and energy flow testing for complete vehicles, integrated electric dynamometer testing, quick-connect/quick-install/break-in testing for powertrains, gearbox testing, new containerized test cell technology, comprehensive marine powertrain testing, high-speed hydraulic dynamometer technology for aero-engine testing, and a unified software platform for powertrain power and emission analysis; during the reporting period, progress was made in aero-engine high-speed hydraulic dynamometer technology, with 3 new invention patent applications, 6 utility model patent applications, 1 design patent application, and 1 software copyright application, and total R&D investment of 18.66 million yuan, a 12.98% increase year-on-year - The company's core technologies include comprehensive testing for new energy vehicle powertrains, high-dynamic and energy flow testing for new energy vehicles, integrated electric dynamometer testing, quick-connect, quick-install, and break-in testing for powertrains, gearbox testing, new containerized test cell technology, comprehensive marine powertrain testing, high-speed hydraulic dynamometer technology for aero-engine testing, a unified software platform for powertrain power and emission analysis, and integrated testing support equipment technology [61](index=61&type=chunk)[62](index=62&type=chunk)[63](index=63&type=chunk)[64](index=64&type=chunk)[65](index=65&type=chunk)[66](index=66&type=chunk) - During the reporting period, the company's aero-engine high-speed hydraulic dynamometer technology made partial progress in import substitution, with 2 new gas turbine and turbine component test R&D models added [66](index=66&type=chunk) R&D Achievements During the Reporting Period | Indicator | New Applications in Current Period (items) | New Grants in Current Period (items) | Cumulative Applications (items) | Cumulative Grants (items) | | :--- | :--- | :--- | :--- | :--- | | Invention Patents | 3 | 3 | 71 | 23 | | Utility Model Patents | 6 | 9 | 171 | 108 | | Design Patents | 1 | 1 | 3 | 2 | | Software Copyrights | 1 | 1 | 55 | 54 | | Total | 11 | 14 | 300 | 187 | R&D Investment | Indicator | Current Period Amount (yuan) | Prior Year Period Amount (yuan) | Change (%) | | :--- | :--- | :--- | :--- | | Expensed R&D Investment | 18,659,029.68 | 16,515,493.79 | 12.98 | | Total R&D Investment | 18,659,029.68 | 16,515,493.79 | 12.98 | | Total R&D Investment as a Percentage of Operating Revenue (%) | 7.33 | 6.88 | Increased by 0.45 percentage points | - The company has **104 R&D personnel**, accounting for **18.94%** of its total workforce, with total R&D personnel compensation of **10.11 million yuan** and average compensation of **97,200 yuan** [83](index=83&type=chunk) [Risk Factors](index=36&type=section&id=%E5%9B%9B%E3%80%81%E9%A3%8E%E9%99%A9%E5%9B%A0%E7%B4%A0) The company faces core competency risks (technology and key personnel loss, new technology R&D failure), operational risks (raw material supply fluctuations, intensified international competition), financial risks (accounts receivable recovery, long project acceptance cycles, goodwill impairment), industry risks (automotive industry fluctuations), macroeconomic risks (economic policy changes, tax incentive changes), and other significant risks such as low actual controller shareholding and corporate governance [Core Competency Risks](index=36&type=section&id=(%E4%B8%80)%E6%A0%B8%E5%BF%83%E7%AB%9E%E4%BA%89%E5%8A%9B%E9%A3%8E%E9%99%A9) The company faces risks of technology and core technical personnel loss, as well as the risk of new technology R&D failure or inability to commercialize, particularly with uncertainties in aero-engine intelligent testing equipment R&D - The company faces risks of technology loss and loss of core technical personnel, which could adversely affect its operations [84](index=84&type=chunk) - The company's R&D projects, especially in aero-engine intelligent testing equipment, involve uncertainties; R&D failure or inability to commercialize would adversely affect production and operations [85](index=85&type=chunk) [Operational Risks](index=37&type=section&id=(%E4%BA%8C)%E7%BB%8F%E8%90%A5%E9%A3%8E%E9%99%A9) The company faces risks from fluctuations in the supply of important raw materials, particularly electrical control and motor drive control core materials, where procurement disruptions or price volatility could impact production and operations; additionally, compared to international peers, the company has gaps in technical level, production and sales scale, manufacturing processes, and brand reputation, and intensified market competition could have adverse effects - The company's production and operations involve important raw materials for electrical control and motor drive control produced by overseas manufacturers; prolonged procurement cycles, price fluctuations, or inability to import could lead to adverse effects [86](index=86&type=chunk) - The company has gaps in technical level, production and sales scale, manufacturing processes, and brand reputation compared to international renowned enterprises, and intensified market competition could adversely affect production and operations [87](index=87&type=chunk) [Financial Risks](index=37&type=section&id=(%E4%B8%89)%E8%B4%A2%E5%8A%A1%E9%A3%8E%E9%99%A9) The company faces accounts receivable recovery risk due to large overdue amounts and long aging, potentially impacting operating performance and cash flow; long project acceptance cycles may affect revenue recognition, increase inventory tied-up capital, and extend payment collection periods; additionally, the company faces goodwill impairment risk, primarily from the acquisitions of ChangCe Mechatronics and Suzhou Saideke - The company's accounts receivable have large overdue amounts, long aging, and unsatisfactory collection, potentially facing the risk of uncollectibility [88](index=88&type=chunk)[89](index=89&type=chunk) - The company's product cycle from production to acceptance is relatively long, which may affect revenue recognition, increase inventory tied-up capital, and extend payment collection periods, increasing liquidity risk [90](index=90&type=chunk) - As of the end of the reporting period, the company's goodwill book value was **17.05 million yuan**; adverse macroeconomic or industry developments could lead to goodwill impairment risk [90](index=90&type=chunk) [Industry Risks](index=38&type=section&id=(%E5%9B%9B)%E8%A1%8C%E4%B8%9A%E9%A3%8E%E9%99%A9) The company's downstream automotive application sector faces industry fluctuation risks; a downturn in the automotive industry or tightening new energy vehicle incentive policies could lead to decreased customer demand, adversely affecting the company's operating performance - The company's downstream automotive application sector faces industry fluctuation risks; a downturn in the automotive industry or tightening new energy vehicle incentive policies could lead to decreased customer demand, adversely affecting the company's operating performance [91](index=91&type=chunk) [Macroeconomic Environment Risks](index=38&type=section&id=(%E4%BA%94)%E5%AE%8F%E8%A7%82%E7%8E%AF%E5%A2%83%E9%A3%8E%E9%99%A9) Changes in macroeconomic policies, slowing economic growth or cyclical fluctuations, and shifts in national tax and support policies could all negatively impact the company's future development - Changes in macroeconomic policies, slowing economic growth or cyclical fluctuations, and shifts in national tax and support policies could all negatively impact the company's future development [92](index=92&type=chunk) [Other Significant Risks](index=38&type=section&id=(%E5%85%AD)%E5%85%B6%E4%BB%96%E9%87%8D%E5%A4%A7%E9%A3%8E%E9%99%A9) The company's actual controller and their concerted parties hold a relatively low combined shareholding, and if the concerted action agreement is not renewed or other shareholders seek control, the stability of the company's control could be affected; additionally, as the company's assets and business scale expand, higher demands are placed on operational management and internal control, posing governance risks - The company's actual controller Zhao Aiguo and his concerted parties collectively hold **35.11%** of the company's shares, a relatively low proportion; if the concerted action agreement is not renewed or other shareholders increase their holdings to seek control, the stability of the company's current control could be affected [94](index=94&type=chunk)[95](index=95&type=chunk) - As the company's assets and business scale expand, higher demands are placed on operational management and internal control; failure to meet these demands will adversely affect the company's future operations and development [95](index=95&type=chunk) - The economic benefit analysis data for fundraising projects are forward-looking information; if market conditions change, fundraising projects may not achieve expected returns, leading to a decrease in company profit [96](index=96&type=chunk) [Key Operating Performance During the Reporting Period](index=39&type=section&id=%E4%BA%94%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) During the reporting period, the company's operating revenue increased by 6.04% to 255 million yuan, and net profit attributable to shareholders increased by 13.12% to 52.94 million yuan; financial expenses changed due to reduced idle funds for wealth management and lower bank deposit interest rates; in terms of assets and liabilities, trading financial assets and inventories significantly increased, short-term borrowings decreased, and contract liabilities increased; external equity investments grew substantially, mainly in Nantong Celin and BIA Alliance Shanghai; the main controlling subsidiary, ChangCe Mechatronics, contributed most of the operating revenue and net profit [Main Business Analysis](index=39&type=section&id=(%E4%B8%80)%E4%B8%BB%E8%90%A5%E4%B8%9A%E5%8A%A1%E5%88%86%E6%9E%90) During the reporting period, the company's operating revenue increased by 6.04%, and operating costs increased by 2.56%; selling expenses, R&D expenses, and net cash flow from operating activities all increased, while financial expenses changed due to reduced interest income Analysis of Changes in Financial Statement Items | Item | Current Period Amount (yuan) | Prior Year Period Amount (yuan) | Change (%) | | :--- | :--- | :--- | :--- | | Operating Revenue | 254,671,947.23 | 240,156,270.59 | 6.04 | | Operating Costs | 148,243,483.71 | 144,541,420.53 | 2.56 | | Selling Expenses | 9,919,472.38 | 8,558,551.13 | 15.9 | | Administrative Expenses | 14,288,002.75 | 13,982,585.17 | 2.18 | | Financial Expenses | -357,202.50 | -703,545.51 | Not applicable | | R&D Expenses | 18,659,029.68 | 16,515,493.79 | 12.98 | | Net Cash Flow from Operating Activities | 37,512,527.70 | 31,883,980.55 | 17.65 | - The change in financial expenses was primarily due to the completion of fundraising projects, with remaining funds used to supplement working capital, leading to a reduction in idle funds for wealth management and lower bank deposit interest rates, resulting in decreased interest income [100](index=100&type=chunk) [Analysis of Assets and Liabilities](index=40&type=section&id=(%E4%B8%89)%E8%B5%84%E4%BA%A7%E3%80%81%E8%B4%9F%E5%80%BA%E6%83%85%E5%86%B5%E5%88%86%E6%9E%90) At the end of the reporting period, the company's total assets increased by 10.20% to 1.445 billion yuan; trading financial assets grew by 44.21% due to an increase in unexpired wealth management products; inventories increased by 40.70% due to an increase in projects under construction; long-term equity investments grew by 150.08% due to investments in Nantong Celin and BIA Alliance Shanghai; short-term borrowings decreased by 100% due to maturity; notes payable and contract liabilities increased by 114.17% and 36.98% respectively, due to bill payments to suppliers and increased advance receipts for outstanding orders Changes in Assets and Liabilities | Item Name | Current Period End Amount (yuan) | Current Period End as % of Total Assets | Prior Year End Amount (yuan) | Prior Year End as % of Total Assets | Change from Prior Year End (%) | Explanation | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Cash and Bank Balances | 165,790,730.70 | 11.47 | 215,068,507.02 | 16.40 | -22.91 | / | | Trading Financial Assets | 43,835,603.44 | 3.03 | 30,397,696.52 | 2.32 | 44.21 | Due to increased unexpired wealth management products at period-end | | Accounts Receivable | 235,191,858.44 | 16.27 | 201,070,618.21 | 15.33 | 16.97 | / | | Inventories | 346,533,806.45 | 23.98 | 246,296,003.73 | 18.78 | 40.70 | Primarily due to increased projects under construction at period-end compared to beginning of period | | Long-Term Equity Investments | 71,321,420.56 | 4.94 | 28,519,731.43 | 2.17 | 150.08 | Due to investments in Nantong Celin and BIA Alliance Shanghai during this reporting period | | Construction in Progress | 8,326,364.18 | 0.58 | 18,694,875.49 | 1.43 | -55.46 | Primarily due to the transfer of ChangCe Mechatronics' testing equipment to fixed assets during this reporting period | | Short-Term Borrowings | - | - | 10,000,000.00 | 0.76 | -100.00 | Due to the maturity of a non-6+9 bank acceptance bill discount during this reporting period | | Notes Payable | 33,487,238.40 | 2.32 | 15,635,597.75 | 1.19 | 114.17 | Primarily due to unexpired bill payments to suppliers during this reporting period | | Contract Liabilities | 207,887,908.34 | 14.39 | 151,761,965.50 | 11.57 | 36.98 | Primarily due to increased advance receipts for outstanding orders at period-end compared to prior period | | Taxes Payable | 7,800,220.04 | 0.54 | 2,910,027.06 | 0.22 | 168.05 | Primarily due to increased VAT and corporate income tax payable at period-end compared to beginning of period | - As of the end of the reporting period, the company's total restricted assets amounted to **2.21 million yuan**, primarily consisting of bank acceptance bill deposits and letter of guarantee deposits [106](index=106&type=chunk) [Analysis of Investment Status](index=43&type=section&id=(%E5%9B%9B)%E6%8A%95%E8%B5%84%E7%8A%B6%E5%86%B5%E5%88%86%E6%9E%90) During the reporting period, the company's external equity investment amounted to 30.44 million yuan, a significant year-on-year increase of 2944.00%, primarily invested in Nantong Celin and BIA Alliance Shanghai; the company also held trading financial assets and private equity funds, with the private equity fund Nantong Huice Venture Capital Partnership (Limited Partnership) impacting profit by -120,638.19 yuan during the period External Equity Investment | Indicator | Investment Amount in Current Period (yuan) | Investment Amount in Prior Year Period (yuan) | Change (%) | | :--- | :--- | :--- | :--- | | Total External Equity Investment | 30,440,000.00 | 1,000,000.00 | 2944.00% | - During this reporting period, external investments totaled **30.44 million yuan**, including **15 million yuan** in Nantong Celin and **15.44 million yuan** in BIA Alliance Shanghai [109](index=109&type=chunk) Financial Assets Measured at Fair Value | Asset Category | Period-End Amount (yuan) | Period-Beginning Amount (yuan) | | :--- | :--- | :--- | | Stocks | 677,747.40 | 630,289.97 | | Other (primarily wealth management products) | 74,157,856.04 | 70,767,406.55 | | Of which: Trading financial assets - wealth management | 43,157,856.04 | 29,767,406.55 | | Other equity instrument investments | 31,000,000.00 | 41,000,000.00 | | Total | 74,835,603.44 | 71,397,696.52 | Private Equity Fund Investment | Fund Name | Amount Invested as of Period-End (yuan) | Profit Impact in Current Period (yuan) | Cumulative Profit Impact (yuan) | | :--- | :--- | :--- | :--- | | Nantong Huice Venture Capital Partnership (Limited Partnership) | 14,250,000 | -120,638.19 | -1,038,906.76 | [Analysis of Major Holding and Associate Companies](index=45&type=section&id=(%E5%85%AD)%E4%B8%BB%E8%A6%81%E6%8E%A7%E8%82%A1%E5%8F%82%E8%82%A1%E5%85%AC%E5%8F%B8%E5%88%86%E6%9E%90) ChangCe Mechatronics, the company's main controlling subsidiary, achieved operating revenue of 149.70 million yuan and net profit of 36.18 million yuan during the reporting period, with intelligent testing equipment revenue of 90.78 million yuan and testing and validation services revenue of 46.24 million yuan Financial Information of Major Holding Subsidiary ChangCe Mechatronics | Company Name | Company Type | Registered Capital (10,000 yuan) | Total Assets (10,000 yuan) | Net Assets (10,000 yuan) | Operating Revenue (10,000 yuan) | Operating Profit (10,000 yuan) | Net Profit (10,000 yuan) | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | ChangCe Mechatronics | Subsidiary | 10,000 | 75,706.11 | 34,092.88 | 14,969.98 | 4,094.71 | 3,617.61 | - ChangCe Mechatronics' operating revenue included **90.78 million yuan** from intelligent testing equipment and **46.24 million yuan** from testing and validation services [114](index=114&type=chunk) [Section IV Corporate Governance, Environment, and Society](index=47&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) [Changes in Directors, Supervisors, Senior Management, and Core Technical Personnel](index=47&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%92%8C%E6%A0%B8%E5%BF%83%E6%8A%80%E6%9C%AF%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, senior management, or core technical personnel, who include Zhao Aiguo, Li Hui, Zhang Hui, Shi Jiangping, Kuai Suosheng, Sun Yi, and Li Feng - During the reporting period, there were no changes in the company's directors, supervisors, senior management, or core technical personnel [118](index=118&type=chunk) - The company's core technical personnel are Zhao Aiguo, Li Hui, Zhang Hui, Shi Jiangping, Kuai Suosheng, Sun Yi, and Li Feng [118](index=118&type=chunk) [Profit Distribution Plan](index=47&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 board approved the 2025 semi-annual profit distribution plan, proposing a cash dividend of 2.48 yuan (tax inclusive) per 10 shares to all shareholders, totaling 15,969,602.63 yuan, representing 30.16% of net profit attributable to ordinary shareholders; no capital reserve conversion or bonus shares are planned, and the proposal awaits shareholder approval 2025 Semi-Annual Profit Distribution Plan | Indicator | Amount/Ratio | | :--- | :--- | | Cash dividend per 10 shares (tax inclusive) | 2.48 yuan | | Total proposed cash dividend (tax inclusive) | 15,969,602.63 yuan | | Ratio to net profit attributable to ordinary shareholders | 30.16% | | Capital reserve conversion to share capital | No | | Bonus shares | No | - This profit distribution plan is subject to approval by the company's first extraordinary general meeting of shareholders in 2025 [119](index=119&type=chunk) [Equity Incentive Plan](index=47&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) On May 20, 2025, the company's board and supervisory board approved the "Proposal on the Initial Grant of Restricted Shares to Incentive Recipients," granting 1.2346 million restricted shares at 15.24 yuan/share to 97 incentive recipients; concurrently, due to not meeting the 2024 net profit growth target, 348,270 restricted shares from the third vesting period of the 2022 restricted stock incentive plan, already granted but not yet vested, were canceled and invalidated - On May 20, 2025, the company initially granted **1.2346 million restricted shares** to **97 incentive recipients** at a grant price of **15.24 yuan/share**, representing **1.92%** of the company's total share capital at that time [121](index=121&type=chunk) - Due to the company's net profit growth rate not meeting the performance assessment target for 2024, **348,270 restricted shares** from the third vesting period of the 2022 restricted stock incentive plan, which had been granted but not yet vested, were all canceled and invalidated [121](index=121&type=chunk) [Section V Significant Matters](index=50&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) [Fulfillment of Commitments](index=50&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 shareholder, actual controller, core technical personnel and their concerted parties, other shareholders holding over 5% of shares, and all directors, supervisors, and senior management have strictly fulfilled all commitments related to the initial public offering, including avoiding horizontal competition, standardizing and reducing related-party transactions, shareholding and reduction intentions, share price stabilization measures, share repurchases, repurchase of shares issued through fraudulent listing, and measures to mitigate dilution of immediate returns, all performed on time and strictly - The company's controlling shareholder, actual controller, core technical personnel, and their concerted parties committed to avoiding horizontal competition, standardizing and reducing related-party transactions, and holding company shares long-term, with reductions after the lock-up period to be executed according to regulations [125](index=125&type=chunk)[134](index=134&type=chunk)[136](index=136&type=chunk) - The company, its controlling shareholder, actual controller, directors, supervisors, and senior management committed to initiating share price stabilization measures if the share price consistently falls below net asset value per share, and to repurchasing shares or compensating investors for losses in accordance with the law if the prospectus contains false records, misleading statements, or major omissions [138](index=138&type=chunk)[139](index=139&type=chunk)[140](index=140&type=chunk)[141](index=141&type=chunk)[142](index=142&type=chunk)[143](index=143&type=chunk) - The company and its directors, supervisors, and senior management committed to measures to mitigate dilution of immediate returns, including not overstepping authority in operations, restricting job-related consumption, and linking compensation to return mitigation measures [141](index=141&type=chunk) - The company committed not to provide financial assistance to incentive recipients for acquiring restricted shares, and incentive recipients committed to returning benefits received if information disclosure documents contain false records or similar issues [143](index=143&type=chunk) [Significant Litigation and Arbitration Matters](index=60&type=section&id=%E4%B8%83%E3%80%81%E9%87%8D%E5%A4%A7%E8%AF%89%E8%AE%BC%E3%80%81%E4%BB%B2%E8%A3%81%E4%BA%8B%E9%A1%B9) During the reporting period, the company had no significant litigation or arbitration matters - During this reporting period, the company had no significant litigation or arbitration matters [60](index=60&type=chunk) [Significant Related-Party Transactions](index=60&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 had no related-party transactions in daily operations, asset or equity acquisitions/disposals, joint external investments, or related-party creditor-debtor relationships that were previously disclosed in temporary announcements and had no subsequent progress or changes - During the reporting period, the company had no related-party transactions in daily operations, asset or equity acquisitions/disposals, joint external investments, or related-party creditor-debtor relationships that were previously disclosed in temporary announcements and had no subsequent progress or changes [147](index=147&type=chunk)[148](index=148&type=chunk)[149](index=149&type=chunk) [Significant Contracts and Their Performance](index=62&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) During the reporting period, the company provided a comprehensive credit guarantee of 80 million yuan for its subsidiary ChangCe Mechatronics, including 30 million yuan from Zheshang Bank and 50 million yuan from CITIC Bank, with the total guarantee amount accounting for 8.08% of the company's net assets Company and Subsidiary Guarantees for Subsidiaries | Guarantor | Guaranteed Party | Guarantee Amount (10,000 yuan) | Guarantee Start Date | Guarantee End Date | Guarantee Type | Guarantee Fulfilled | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | LianCe Technology | ChangCe Mechatronics | 3,000 | 2023-02-16 | 2025-02-15 | Joint and several liability guarantee | Yes | | LianCe Technology | ChangCe Mechatronics | 3,000 | 2025-02-16 | 2028-02-15 | Joint and several liability guarantee | No | | LianCe Technology | ChangCe Mechatronics | 5,000 | 2024-12-17 | 2025-12-17 | Joint and several liability guarantee | No | Company's Total Guarantee Amount | Indicator | Amount (10,000 yuan) | | :--- | :--- | | Total Guarantee Amount (A+B) | 8,000 | | Total Guarantee Amount as % of Company's Net Assets | 8.08 | [Explanation of Progress in Use of Raised Funds](index=65&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 net proceeds from its initial public offering were 252 million yuan; as of the end of the reporting period, a cumulative 206 million yuan had been invested, representing an investment progress of 81.54%; the "Intelligent Automotive Powertrain Testing Equipment R&D, Manufacturing, and Testing and Validation Services Project" and "Aerospace Powertrain Intelligent Testing Equipment R&D and Manufacturing Project" have reached their intended usable state; the company used temporarily idle raised funds of up to 50 million yuan for cash management, with an ending balance of 11.83 million yuan; during the reporting period, the "Jiangsu LianCe R&D Center Upgrade and Renovation Project" was completed, and the remaining raised funds were permanently used to supplement working capital Overall Use of Raised Funds | Source of Raised Funds | Net Proceeds (1) (yuan) | Cumulative Raised Funds Invested as of Period-End (4) (yuan) | Cumulative Investment Progress (%) | | :--- | :--- | :--- | :--- | | Initial Public Offering | 252,072,076.36 | 205,533,192.19 | 81.54 | - The fundraising projects "Intelligent Automotive Powertrain Testing Equipment R&D, Manufacturing, and Testing and Validation Services Project" and "Aerospace Powertrain Intelligent Testing Equipment R&D and Manufacturing Project" have reached their intended usable state [158](index=158&type=chunk)[159](index=159&type=chunk) - The company used temporarily idle raised funds of up to **50 million yuan** for cash management; as of June 30, 2025, the total cash management amount was **11.83 million yuan** [160](index=160&type=chunk) - During the reporting period, the "Jiangsu LianCe R&D Center Upgrade and Renovation Project" was completed, and the remaining raised funds were permanently used to supplement working capital [162](index=162&type=chunk) [Section VI Share Changes and Shareholder Information](index=70&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) [Share Capital Changes](index=70&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 ordinary shares or share capital structure - During the reporting period, there were no changes in the company's total ordinary shares or share capital structure [166](index=166&type=chunk) [Shareholder Information](index=70&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 total number of ordinary shareholders was 3,909; among the top ten shareholders, Zhao Aiguo held 14.52%, Li Hui 7.56%, Huang Bingrong 6.78%, Yu Xuanxuan 5.96%, and Zhang Hui 5.16%; Zhao Aiguo, Li Hui, Yu Xuanxuan, and Zhang Hui are concerted parties of the actual controller - As of the end of the reporting period, the total number of ordinary shareholders was **3,909** [167](index=167&type=chunk) Top Ten Shareholders' Shareholding | Shareholder Name | Shares Held at Period-End (shares) | Percentage (%) | | :--- | :--- | :--- | | Zhao Aiguo | 9,350,905 | 14.52 | | Li Hui | 4,867,787 | 7.56 | | Huang Bingrong | 4,367,587 | 6.78 | | Yu Xuanxuan | 3,837,105 | 5.96 | | Zhang Hui | 3,325,500 | 5.16 | | Sun Huiming | 2,119,939 | 3.29 | | Zhang Xiaobing | 2,000,000 | 3.11 | | Shi Jiangping | 1,970,606 | 3.06 | | Changzhou Housheng Investment Co., Ltd. | 1,440,000 | 2.24 | | Wang Shengchang | 1,368,588 | 2.13 | - The company's controlling shareholder and actual controller is Zhao Aiguo; Li Hui, Yu Xuanxuan, and Zhang Hui are concerted parties of the actual controller [170](index=170&type=chunk) [Changes in Shareholdings of Directors, Supervisors, Senior Management, and Core Technical Personnel](index=73&type=section&id=%E4%B8%89%E3%80%81%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%92%8C%E6%A0%B8%E5%BF%83%E6%8A%80%E6%9C%AF%E4%BA%BA%E5%91%98%E6%83%85%E5%86%B5) During the reporting period, some directors, supervisors, senior management, and core technical personnel experienced changes in shareholdings; Yu Xuanxuan, Shi Jiangping, and Kuai Suosheng reduced their shares due to personal capital needs, while Yao Haifei and Guo Jianfeng saw a decrease in indirect shareholdings due to secondary market reductions; some directors, supervisors, senior management, and core technical personnel were granted restricted shares under the 2025 restricted stock incentive plan Changes in Shareholdings of Directors, Supervisors, Senior Management, and Core Technical Personnel | Name | Position | Shares Held at Period-Beginning (shares) | Shares Held at Period-End (shares) | Change in Shares During Reporting Period (shares) | Reason for Change | | :--- | :--- | :--- | :--- | :--- | :--- | | Yu Xuanxuan | Director, Vice Chairman | 3,966,681 | 3,837,105 | -129,576 | Personal capital needs | | Shi Jiangping | Core Technical Personnel | 2,207,344 | 1,970,606 | -236,738 | Personal capital needs | | Kuai Suosheng | Core Technical Personnel | 16,840 | 14,840 | -2,000 | Personal capital needs | Changes in Indirect Shareholdings of Directors, Supervisors, Senior Management, and Core Technical Personnel | Name | Position | Indirect Shares Held at Period-Beginning | Indirect Shares Held at Period-End | Change in Indirect Shares During Reporting Period | Reason for Change | | :--- | :--- | :--- | :--- | :--- | :--- | | Yao Haifei | Deputy General Manager | 22,782 | 17,087 | -5,695 | Secondary market reduction | | Guo Jianfeng | Chairman of Supervisory Board | 18,225 | 13,669 | -4,556 | Secondary market reduction | - Some of the company's directors, supervisors, senior management, and core technical personnel were granted shares under the 2025 restricted stock incentive plan, including Lu Wei, Yao Haifei, He Ping, Tang Shuquan, Kuai Suosheng, Sun Yi, and Li Feng receiving new grants [175](index=175&type=chunk)[176](index=176&type=chunk) [Section VII Bond-Related Information](index=75&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) [Corporate Bonds and Debt Financing Instruments](index=75&type=section&id=%E4%B8%80%E3%80%81%E5%85%AC%E5%8F%B8%E5%80%BA%E5%88%B8%EF%BC%88%E5%90%AB%E4%BC%81%E4%B8%9A%E5%80%BA%E5%88%B8%EF%BC%89%E5%92%8C%E9%9D%9E%E9%87%91%E8%9E%8D%E4%BC%81%E4%B8%9A%E5%80%BA%E5%8A%A1%E8%9E%8D%E8%B5%84%E5%B7%A5%E5%85%B7) During the reporting period, the company had no corporate bonds (including enterprise bonds) or non-financial enterprise debt financing instruments - During the reporting period, the company had no corporate bonds (including enterprise bonds) or non-financial enterprise debt financing instruments [179](index=179&type=chunk) [Convertible Corporate Bonds](index=75&type=section&id=%E4%BA%8C%E3%80%81%E5%8F%AF%E8%BD%AC%E6%8D%A2%E5%85%AC%E5%8F%B8%E5%80%BA%E5%88%B8%E6%83%85%E5%86%B5) During the reporting period, the company had no convertible corporate bonds - During the reporting period, the company had no convertible corporate bonds [179](index=179&type=chunk) [Section VIII Financial Report](index=76&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) [Audit Report](index=76&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 has not been audited - This semi-annual report has not been audited [181](index=181&type=chunk) [Financial Statements](index=76&type=section&id=%E4%BA%8C%E3%80%81%E8%B4%A2%E5%8A%A1%E6%8A%A5%E8%A1%A8) This section presents the company's consolidated and parent company balance sheets, income statements, cash flow statements, and statements of changes in owners' equity for H1 2025, comprehensively reflecting the company's financial position, operating results, and cash flow [Consolidated Balance Sheet](index=76&type=section&id=%E5%90%88%E5%B9%B6%E8%B5%84%E4%BA%A7%E8%B4%9F%E5%80%BA%E8%A1%A8) As of June 30, 2025, the company's consolidated total assets were 1.445 billion yuan, up 10.20%; total liabilities were 456 million yuan, up 24.07%; total owners' equity attributable to the parent company was 962 million yuan, up 4.73% Key Data from Consolidated Balance Sheet | Item | June 30, 2025 (yuan) | December 31, 2024 (yuan) | | :--- | :--- | :--- | | Total Assets | 1,445,160,406.67 | 1,311,446,292.51 | | Total Liabilities | 455,518,161.82 | 367,153,260.73 | | Total Owners' Equity Attributable to Parent Company | 961,936,767.40 | 918,523,078.02 | [Consolidated Income Statement](index=81&type=section&id=%E5%90%88%E5%B9%B6%E5%88%A9%E6%B6%A6%E8%A1%A8) In H1 2025, the company's consolidated total operating revenue was 255 million yuan, up 6.04%; net profit was 54.23 million yuan, up 13.80%; net profit attributable to parent company shareholders was 52.94 million yuan, up 13.12% Key Data from Consolidated Income Statement | Item | H1 2025 (yuan) | H1 2024 (yuan) | | :--- | :--- | :--- | | Total Operating Revenue | 254,671,947.23 | 240,156,270.59 | | Total Operating Costs | 192,064,001.38 | 184,966,150.06 | | Total Profit | 60,549,974.73 | 54,401,443.93 | | Net Profit | 54,225,903.57 | 47,648,356.98 | | Net Profit Attributable to Parent Company Shareholders | 52,943,739.44 | 46,802,921.63 | | Basic Earnings Per Share (yuan/share) | 0.82 | 0.73 | | Diluted Earnings Per Share (yuan/share) | 0.82 | 0.72 | [Consolidated Cash Flow Statement](index=85&type=section&id=%E5%90%88%E5%B9%B6%E7%8E%B0%E9%87%91%E6%B5%81%E9%87%8F%E8%A1%A8) In H1 2025, net cash flow from operating activities was 37.51 million yuan, up 17.65%; net cash flow from investing activities was -60.04 million yuan; net cash flow from financing activities was -27.51 million yuan; cash and cash equivalents at period-end totaled 102 million yuan Key Data from Consolidated Cash Flow Statement | Item | H1 2025 (yuan) | H1 2024 (yuan) | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | 37,512,527.70 | 31,883,980.55 | | Net Cash Flow from Investing Activities | -60,040,846.54 | -66,998,958.70 | | Net Cash Flow from Financing Activities | -27,505,465.58 | -25,578,176.33 | | Net Increase in Cash and Cash Equivalents | -50,011,228.27 | -60,676,540.57 | | Cash and Cash Equivalents at Period-End | 101,567,887.14 | 178,132,074.97 | [Company Basic Information](index=101&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) Jiangsu LianCe Mechatronics Technology Co., Ltd. was established on June 26, 2002, restructured into a joint-stock company in 2017, and listed on the STAR Market of the Shanghai Stock Exchange in May 2021; its registered capital is 64.40 million yuan, legal representative is Zhao Aiguo, and main business includes R&D, manufacturing, sales, service, and import/export of dynamometers, control instruments, engine automated testing systems and related equipment, spare parts, other machinery, and computer software - The company, formerly Qidong LianCe Dynamometer Co., Ltd., was established on June 26, 2002, restructured into Jiangsu LianCe Mechatronics Technology Co., Ltd. in 2017, and listed on the STAR Market of the Shanghai Stock Exchange in May 2021 [219](index=219&type=chunk) - The company's registered capital is **64.40 million yuan**, and its legal representative is Zhao Aiguo [220](index=220&type=chunk) - The company's business scope includes the R&D, manufacturing, sales, and service of dynamometers, control instruments, engine automated testing systems and related equipment, spare parts, other machinery, and computer software development, as well as self-operated and agency import and export business for general operating items and technologies [220](index=220&type=chunk) [Basis of Financial Statement Preparation](index=101&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's financial statements are prepared on a going concern basis, and based on currently available information, there are no factors significantly affecting its ability to continue as a going concern within 12 months from the end of the reporting period - The company's financial statements are prepared on a **going concern basis** [221](index=221&type=chunk) - The company has comprehensively evaluated currently available information and believes there are no factors significantly affecting its ability to continue as a going concern within 12 months from the end of the reporting period [222](index=222&type=chunk) [Significant Accounting Policies and Estimates](index=101&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 company's significant accounting policies and estimates for financial statement preparation, covering enterprise accounting standards, accounting period, operating cycle, functional currency, materiality, business combinations, consolidated financial statements, joint arrangements, cash and cash equivalents, foreign currency transactions and translation, financial instruments, notes receivable, accounts receivable, financing for receivables, other receivables, inventories, contract assets, assets held for sale, long-term equity investments, investment properties, fixed assets, construction in progress, borrowing costs, intangible assets, impairment of long-term assets, long-term deferred expenses, contract liabilities, employee benefits, provisions, share-based payments, revenue, contract costs, government grants, deferred income tax assets/liabilities, and leases - The company's financial statements comply with enterprise accounting standards, accurately and completely reflecting its financial position [224](index=224&type=chunk) - The company uses a one-year (12-month) period as its normal operating cycle, and its functional currency is Renminbi [226](index=226&type=chunk)[227](index=227&type=chunk) - The company classifies and measures financial instruments, including financial assets measured at amortized cost, at fair value through other comprehensive income, and at fair value through profit or loss [248](index=248&type=chunk) - The company applies the expected credit loss model to accrue bad debt provisions for receivables (including notes receivable, accounts receivable, and other receivables), categorizing them into different portfolios based on credit risk characteristics [266](index=266&type=chunk)[267](index=267&type=

证券代码：688113 证券简称：联测科技 公告编号：2025-041 江苏联测机电科技股份有限公司关于 取消监事会、修订《公司章程》并办理工商变更登记及修订 和制定部分公司治理制度的公告 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 和完整性依法承担法律责任。 江苏联测机电科技股份有限公司(以下简称"公司")于 2025 年 8 月 27 日召开了第三届董事会第十五次会议，审议通过了《关 于公司取消监事会、修订<公司章程>并办理工商变更登记及修订 和制定部分公司治理制度的议案》，现将相关情况公告如下： 一、关于取消公司监事会的相关情况 为进一步完善公司治理结构，促进公司规范运作，根据《中 华人民共和国公司法》（以下简称"《公司法》"）《上市公司 章程指引》《关于新公司法配套制度规则实施相关过渡期安排》 等法律、法规、规范性文件的规定，结合公司的实际情况，公司 拟不再设置监事会，由公司董事会审计委员会行使《公司法》规 定的监事会职权，并相应修订《公司章程》及其他相关制度中有 关监事、监事会相关的表述及条款，《江苏联测机电科技股份有 限公司监事会议 ...

江苏联测机电科技股份有限公司 2025 年度"提质增效重回报"行动方案半年度评估报 告 江苏联测机电科技股份有限公司（以下简称"公司"）为践行"以投资者为本" 的发展理念，贯彻落实国务院《关于加强监管防范风险推动资本市场高质量发 展的若干意见》，积极响应上海证券交易所《关于开展沪市公司"提质增效重回 报"专项行动的倡议》，于 2025 年 4 月 28 发布了《2025 年度"提质增效重回报" 行动方案》（以下简称"行动方案"），旨在通过深入贯彻和实践该方案，提高 公司质量、增强投资者回报、提升投资者的获得感，保护投资者尤其是中小投 资者合法权益。 2025 年上半年，公司根据行动方案内容，积极开展和落实各项工作，现将 2025 年上半年主要进展及成效情况报告如下： 一、聚焦经营主业，提升经营质量 公司自设立以来持续专注动力系统智能测试装备的研发、生产和销售，以 产品为核心，以服务客户为导向，深耕动力测试主业。公司主营业务为动力系 统智能测试装备的研发、制造和销售，以及提供动力系统测试验证服务。 二、加大研发投入，加快发展新质生产力 2025 年上半年，经营业绩整体保持稳定。本报告期内，公司营业收入为 25, ...

证券代码：688113 证券简称：联测科技 公告编号：2025-039 江苏联测机电科技股份有限公司 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 和完整性依法承担法律责任。 根据中国证券监督管理委员会《关于同意江苏联测机电科技 股份有限公司首次公开发行股票注册的批复》（证监许可〔2021〕 840 号），公司首次公开发行人民币普通股股票 1,600 万股，每 股发行价格为人民币 19.14 元，募集资金总额为人民币 30,624.00 万元。扣除承销费、保荐费等发行费用人民币 54,167,923.64 元 （不含本次公开发行股票发行费用可抵扣增值税进项税额），本 次募集资金净额为人民币 252,072,076.36 元。上述募集资金已于 2021 年 4 月 28 日全部到位，公证天业会计师事务所（特殊普通 合伙）于 2021 年 4 月 28 日对本次发行的募集资金到位情况进行 了审验，并出具了"苏公 W[2021]B040 号"《验资报告》。截 至 2025 年 6 月 30 日，公司 ...

证券代码：688113 证券简称：联测科技 公告编号：2025-043 江苏联测机电科技股份有限公司 关于召开 2025 年半年度业绩暨现金分红说明会的公告 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 和完整性依法承担法律责任。 重要内容提示： 会议召开时间：2025 年 9 月 8 日（周一）上午 09:00-10:00 会议召开地点：上海证券交易所上证路演中心（网址： http://roadshow.sseinfo.com/）。 年半年度业绩暨现金分红说明会，就投资者关心的问题进行交流。 一、 说明会类型 本次投资者说明会以网络互动形式召开，公司将针对 2025 年半年度的经营成果及财务指标的具体情况与投资者进行互动 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、 说明会召开的时间、地点 （一） 会议召开时间：2025 年 9 月 8 日上午 09:00-10:00 会议召开方式：上证路演中心网络互动 投资者可于 2025 年 9 月 1 日（周一）至 9 月 5 日（周五） 16:00 前登录上证路演中心网站首 ...

Group 1 - The core viewpoint of the news highlights the financial performance and trading activity of Lian Ce Technology, indicating a positive trend in revenue and net profit growth [2] - On August 26, Lian Ce Technology's stock increased by 1.67%, with a trading volume of 58.16 million yuan, and a net financing purchase of 3.95 million yuan [1] - The company's financing balance reached 103 million yuan, accounting for 3.64% of its market capitalization, indicating a high level of financing activity compared to the past year [1] Group 2 - As of March 31, the number of shareholders for Lian Ce Technology increased by 7.92% to 3,122, while the average circulating shares per person decreased by 7.33% [2] - For the first quarter of 2025, Lian Ce Technology reported a revenue of 94.29 million yuan, representing a year-on-year growth of 23.37%, and a net profit of 21.48 million yuan, reflecting an 88% increase [2] - Since its A-share listing, Lian Ce Technology has distributed a total of 68.10 million yuan in dividends, with 60.40 million yuan distributed over the past three years [3]