创耀（苏州）通信科技股份有限公司 关于召开 2025 年半年度业绩说明会的公告 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、准确性和完整性承担法律责任。 重要内容提示： 会议召开时间：2025 年 09 月 10 日（星期三）13:00-14:00 会议召开地点：上海证券交易所上证路演中心（网址： https://roadshow.sseinfo.com/） 会议召开方式：上证路演中心网络互动 证券代码：688259 证券简称：创耀科技 公告编号：2025-026 三、 参加人员 董事长、总经理：YAOLONG TAN 先生 财务总监：纪丽丽女士 董事会秘书：占一宇女士 独立董事：徐赞先生 四、投资者参加方式 投资者可于 2025 年 09 月 03 日（星期三）至 09 月 09 日（星期二）16:00 前登录上证路演中心网站首页点击"提问预征集"栏目或通过公司邮箱 ir@triductor.com 进行提问。公司将在说明会上对投资者普遍关注的问题进行 回答。 创耀（苏州）通信科技股份有限公司（以下简称"公司"）已于 2025 年 8 月 28 日发 ...

8月27日，创耀科技跌0.91%，成交额2.32亿元。两融数据显示，当日创耀科技获融资买入额2588.07万 元，融资偿还2790.90万元，融资净买入-202.83万元。截至8月27日，创耀科技融资融券余额合计2.35亿 元。 融资方面，创耀科技当日融资买入2588.07万元。当前融资余额2.35亿元，占流通市值的4.74%，融资余 额超过近一年80%分位水平，处于高位。 融券方面，创耀科技8月27日融券偿还0.00股，融券卖出0.00股，按当日收盘价计算，卖出金额0.00元； 融券余量0.00股，融券余额0.00元，超过近一年70%分位水平，处于较高位。 资料显示，创耀(苏州)通信科技股份有限公司位于中国(江苏)自由贸易试验区苏州片区苏州工业园区集 贤街89号6幢1501室，成立日期2006年8月2日，上市日期2022年1月12日，公司主营业务涉及通信核心芯 片的研发、设计和销售业务,并提供应用解决方案与技术支持服务。主营业务收入构成为：通信芯片与 解决方案业务68.10%，芯片版图设计服务及其他技术服务31.90%。 截至6月30日，创耀科技股东户数7883.00，较上期减少13.23%；人均流通股14 ...

格隆汇8月27日丨创耀科技(688259.SH)发布2025半年度报告，公司上半年实现营业收入1.83亿元，同比 下滑35.72%；归母净利润3190.14万元，同比下滑8.77%；扣非归母净利润2671.56万元，同比下滑 7.44%。 ...

Group 1 - The company held its 13th meeting of the second Supervisory Board on August 27, 2025, with all three supervisors participating, confirming the meeting's legality and validity [1] - The Supervisory Board approved the 2025 semi-annual report, stating that the report's preparation and review processes were compliant with relevant laws and regulations, and accurately reflected the company's financial status and operational results [1][2] - The voting results for the semi-annual report were unanimous, with 3 votes in favor and no votes against or abstentions [2] Group 2 - The Supervisory Board also approved a special report on the storage and actual use of raised funds for the first half of 2025, with details available in a separate announcement [2] - The voting results for the special report on raised funds were also unanimous, with 3 votes in favor and no votes against or abstentions [2]

Core Viewpoint - The report highlights the financial performance of Triductor Technology (Suzhou) Inc. for the first half of 2025, indicating a significant decline in revenue and profit due to market conditions affecting the telecommunications chip sector. Company Overview and Financial Indicators - Triductor Technology specializes in the research, design, and sales of communication core chips, providing application solutions and technical support services [3][14]. - The company reported a revenue of approximately 183.21 million yuan, a decrease of 35.72% compared to the same period last year [3][6]. - The total profit for the period was approximately 32.34 million yuan, down 16.44% year-on-year [3][6]. - The net profit attributable to shareholders was approximately 31.90 million yuan, reflecting an 8.77% decrease from the previous year [3][6]. - The company's net assets increased slightly by 0.81% to approximately 1.54 billion yuan, while total assets decreased by 11.17% to approximately 1.84 billion yuan [3][6]. Industry Context - The company operates within the integrated circuit design industry, specifically focusing on communication core chips, which are essential for various telecommunications applications [5][14]. - The telecommunications chip market is currently experiencing a de-inventory cycle, leading to reduced demand from downstream customers in the access network segment [3][6]. - The industry is undergoing structural changes towards green, intelligent, and digital transformations, driven by national policies promoting smart grid development [6][7]. - The company is positioned to benefit from the increasing demand for dual-mode communication technologies that combine wireless and power line communication [18]. Business Model and Services - Triductor Technology employs a Fabless business model, focusing on chip design while outsourcing manufacturing and testing to specialized firms [16][17]. - The main business segments include communication chips and solutions, chip layout design services, and other technical services [14][15]. - The company offers various products, including power line communication chips, access network chips, and the new short-range wireless "Star Flash" chips [14][15]. Market Position - The company has established a strong presence in the access network technology sector, being one of the early developers of VDSL2 broadband access technology in China [18][19]. - Triductor Technology's products are utilized by major telecommunications operators, enhancing its reputation and market share in the industry [19].

Company Overview - Chuangyao (Suzhou) Communication Technology Co., Ltd. is listed on the Shanghai Stock Exchange's Sci-Tech Innovation Board with stock code 688259 [1] - The company reported total assets of approximately 1.84 billion RMB at the end of the reporting period, a decrease of 11.17% compared to the previous year [1] Financial Performance - The company's operating revenue for the reporting period was approximately 183.21 million RMB, reflecting a decline of 35.72% year-on-year [1] - Total profit amounted to approximately 32.34 million RMB, down 16.44% from the previous year [1] - The net profit attributable to shareholders was not specified, but the basic and diluted earnings per share were both 0.29 RMB, a decrease of 6.45% compared to the previous year [1] - The weighted average return on equity decreased by 0.22 percentage points to 2.09% [1] Shareholder Information - The total number of shareholders at the end of the reporting period was 7,883 [2] - The largest shareholder, Chongqing Chuangruiying Enterprise Management Co., Ltd., holds 14.07% of the shares [2] - Other significant shareholders include Ningbo Free Trade Zone Kaifeng Venture Capital Management Co., Ltd. and New Suzhou Industrial Park Entrepreneurship Investment Co., Ltd., holding 5.95% and 1.66% respectively [2]

证券代码：688259 证券简称：创耀科技 公告编号：2025-025 创耀（苏州）通信科技股份有限公司 关于公司 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法律责任。 根据《上市公司募集资金监管规则》《上海证券交易所科创板上市公司自 律监管指引第1号——规范运作》等规定，创耀（苏州）通信科技股份有限公司 （以下简称"公司"）董事会编制了公司2025年半年度募集资金存放与使用情 况的专项报告，具体如下： 一、募集资金基本情况 （一） 实际募集资金金额、资金到位情况 根据中国证券监督管理委员会《关于同意创耀(苏州)通信科技股份有限公 司首次公开发行股票注册的批复》（证监许可[2021]3654号），公司获准向社 会公开发行人民币普通股2,000万股，每股面值为人民币1元，发行价格为每股 人民币66.60元，募集资金总额为人民币1,332,000,000.00元，扣除各项发行费 用人民币112,354,936.73元，实际募集资金净额为人民币1,219,645,063.27元。 ...

创耀（苏州）通信科技股份有限公司 关于公司 2025 年度提质增效重回报专项行动方 案的半年度评估报告 创耀（苏州）通信科技股份有限公司（以下简称"公司"）践行以"投资者 为本"的发展理念，推动公司持续优化经营、规范治理和积极回报投资者，公司 于 2025 年 4 月披露了《2025 年度"提质增效重回报"行动方案》，为公司 2025 年度提质增效重回报行动制定出明确的工作方向。 公司始终致力于将自身打造为平台化通信芯片企业，依托长期积累的有线及 无线通信芯片相关算法与软件核心技术，围绕各类通信终端应用场景，持续拓宽 产品布局，不断推出具备市场竞争力的优质通信芯片产品，丰富公司产品矩阵。 在对公司接入网网络通信芯片、电力线载波通信芯片持续投入的同时，公司加大 对高速工业通信芯片、新型短距无线星闪芯片的研发及市场推广工作。报告期内， 公司新一代短距无线星闪芯片、工业通信芯片在研发及商业落地两方面均取得了 积极进展，为公司通信芯片及解决方案业务的可持续、多元化发展奠定了坚实基 础。 公司 2025 年上半年实现营业收入 183,211,267.89 元，较上年同期下降 35.72%；实现归属于母公司所有者的净利润 ...

Section I Definitions This section provides definitions of key technical and industry terms used in the report, as well as company-related parties and reporting period definitions [Definitions of Common Terms](index=4&type=section&id=Definitions%20of%20Common%20Terms) This chapter defines key technical and industry terms, including integrated circuits, power line communication, IoT, access networks, chip design processes, and company-specific entities - The report defines core technical concepts such as Integrated Circuit (IC), Power Line Carrier Communication (PLC), Internet of Things (IoT), Access Network, Gateway, VDSL, and G.fast[11](index=11&type=chunk) - Communication technologies like HPLC (High-Speed Power Line Carrier) and dual HPLC+HRF (combining low-power wireless communication) are explained[11](index=11&type=chunk) - Key terms in the chip design and manufacturing process, such as layout design, ADC, FinFET, Fabless, SoC, wafer, tape-out, and packaging, are covered[11](index=11&type=chunk)[12](index=12&type=chunk) - The company name "Triductor Technology," its controlling shareholder "Chuangruiying," and the definition of the reporting period are clarified[11](index=11&type=chunk)[12](index=12&type=chunk) Section II Company Profile and Key Financial Indicators This section provides an overview of the company's basic information, contact details, disclosure channels, stock information, and key financial performance metrics [Company Basic Information](index=5&type=section&id=Company%20Basic%20Information) Triductor (Suzhou) Communication Technology Co., Ltd. is headquartered in Suzhou Industrial Park, with YAOLONG TAN as its legal representative - Company's Chinese name: Triductor (Suzhou) Communication Technology Co., Ltd., abbreviated as: Triductor Technology[14](index=14&type=chunk) - The company's registered address changed in October 2024[15](index=15&type=chunk) [Contact Persons and Information](index=6&type=section&id=Contact%20Persons%20and%20Information) The Board Secretary (domestic representative for information disclosure) is Zhan Yiyu, and the Securities Affairs Representative is Meng Tingting - Board Secretary: Zhan Yiyu[16](index=16&type=chunk) - Securities Affairs Representative: Meng Tingting[16](index=16&type=chunk) [Information Disclosure and Document Custody Location Changes](index=6&type=section&id=Information%20Disclosure%20and%20Document%20Custody%20Location%20Changes) The company's designated information disclosure newspapers are Shanghai Securities News, Securities Times, and Economic Information Daily - Information disclosure newspapers: Shanghai Securities News, Securities Times, Economic Information Daily[17](index=17&type=chunk) - Report website: www.sse.com.cn[17](index=17&type=chunk) [Company Stock/Depositary Receipt Overview](index=6&type=section&id=Company%20Stock%2FDepositary%20Receipt%20Overview) The company's ordinary shares are listed on the STAR Market of the Shanghai Stock Exchange under stock code "688259" - Stock type: RMB ordinary shares[18](index=18&type=chunk) - Listing exchange and board: Shanghai Stock Exchange STAR Market[18](index=18&type=chunk) - Stock abbreviation: Triductor Technology, Stock code: 688259[18](index=18&type=chunk) [Company's Key Accounting Data and Financial Indicators](index=7&type=section&id=Company's%20Key%20Accounting%20Data%20and%20Financial%20Indicators) In H1 2025, revenue decreased by 35.72% to 183.21 million yuan, and net profit attributable to shareholders decreased by 8.77% to 31.90 million yuan Key Accounting Data (January-June) | Indicator | Current Reporting Period (yuan) | Prior Year Period (yuan) | Period-on-Period Change (%) | | :--- | :--- | :--- | :--- | | Operating Revenue | 183,211,267.89 | 285,037,202.37 | -35.72 | | Total Profit | 32,343,658.88 | 38,704,818.28 | -16.44 | | Net Profit Attributable to Shareholders of Listed Company | 31,901,356.50 | 34,967,437.42 | -8.77 | | Net Cash Flow from Operating Activities | 16,208,637.07 | -77,438,274.13 | Not applicable | | **End of Current Reporting Period:** | | | | | Net Assets Attributable to Shareholders of Listed Company | 1,537,504,169.86 | 1,525,086,789.42 | 0.81 | | Total Assets | 1,835,667,132.10 | 2,066,516,203.30 | -11.17 | Key Financial Indicators (January-June) | Indicator | Current Reporting Period | Prior Year Period | Period-on-Period Change (%) | | :--- | :--- | :--- | :--- | | Basic Earnings Per Share (yuan/share) | 0.29 | 0.31 | -6.45 | | Diluted Earnings Per Share (yuan/share) | 0.29 | 0.31 | -6.45 | | Weighted Average Return on Net Assets (%) | 2.09 | 2.31 | Decreased by 0.22 percentage points | | R&D Investment as % of Operating Revenue (%) | 21.07 | 21.20 | Decreased by 0.13 percentage points | - Operating revenue decreased by **35.72%** year-on-year, primarily due to the destocking cycle of chips related to the operator market and a slowdown in demand from downstream customers for access network chips and solutions business[21](index=21&type=chunk) [Non-Recurring Gains and Losses Items and Amounts](index=7&type=section&id=Non-Recurring%20Gains%20and%20Losses%20Items%20and%20Amounts) Non-recurring gains and losses totaled 5.19 million yuan, primarily from government grants and fair value changes of financial assets Non-Recurring Gains and Losses Items | Non-Recurring Gains and Losses Item | Amount (yuan) | | :--- | :--- | | Gains and losses from disposal of non-current assets | 1,244.14 | | Government grants recognized in current profit or loss | 3,715,484.77 | | 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 | 1,308,196.91 | | Gains and losses from entrusted investments or asset management | 483,937.16 | | Other non-operating income and expenses | 44,000.00 | | Other gains and losses that meet the definition of non-recurring gains and losses | 201,002.81 | | Less: Income tax impact | 568,125.99 | | **Total** | **5,185,739.80** | [Net Profit Excluding Share-Based Payment Impact for Companies with Equity Incentive/Employee Stock Ownership Plans](index=8&type=section&id=Net%20Profit%20Excluding%20Share-Based%20Payment%20Impact%20for%20Companies%20with%20Equity%20Incentive%2FEmployee%20Stock%20Ownership%20Plans) Net profit after deducting share-based payment impact was 34.05 million yuan in H1 2025, a decrease of 8.53% year-on-year Net Profit Excluding Share-Based Payment Impact | Indicator | Current Reporting Period (Jan-Jun) (yuan) | Prior Year Period (yuan) | Period-on-Period Change (%) | | :--- | :--- | :--- | :--- | | Net profit after deducting share-based payment impact | 34,052,638.62 | 37,229,689.61 | -8.53 | Section III Management Discussion and Analysis This section provides a comprehensive analysis of the company's industry, business operations, core competencies, risk factors, and key financial performance during the reporting period [Explanation of the Company's Industry and Main Business During the Reporting Period](index=9&type=section&id=3.1%20Explanation%20of%20the%20Company's%20Industry%20and%20Main%20Business%20During%20the%20Reporting%20Period) Triductor Technology, an IC design firm, focuses on communication core chips, covering PLC, wired broadband access, short-range wireless, high-speed industrial bus chips, and layout design services [Company's Industry](index=9&type=section&id=3.1.1%20Company's%20Industry) The company operates in the integrated circuit design industry, benefiting from policy support and technological upgrades across its various segments - The company belongs to "I Information Transmission, Software and Information Technology Services" specifically "I65 Software and Information Technology Services," focusing on "Integrated Circuit Design"[28](index=28&type=chunk) - The Power Line Carrier Communication industry benefits from "dual carbon" goals and new power system construction, with State Grid and China Southern Power Grid's 2025 total grid investment expected to reach **825 billion yuan**, a new historical high[29](index=29&type=chunk)[30](index=30&type=chunk) - In wired broadband access, copper wire access technologies (e.g., VDSL2 Vectoring, V35b, and G.fast) continue to evolve, maintaining market share in regions like Europe, Southeast Asia, and the Middle East[31](index=31&type=chunk) - The short-range wireless communication market continues to grow, with Bluetooth device shipments projected to reach **5 billion units in 2024** and **7.5 billion units by 2028**; the Wi-Fi market size may reach **150 billion US dollars by 2025**[33](index=33&type=chunk) - SparkLink short-range technology, with its low latency, high reliability, and high-precision synchronization, meets stringent requirements for emerging smart automotive, smart manufacturing, smart terminal, and smart home applications, and has become the highest certification standard for HarmonyOS Connect S+[34](index=34&type=chunk) - In the high-speed industrial bus industry, EtherCAT node count has surpassed **88 million**, with **11 million new nodes in 2024**, holding a global leading market share in motion control, especially indispensable in high-precision scenarios like semiconductor manufacturing and lithium battery production lines[37](index=37&type=chunk) - Chip layout design is an indispensable part of the full chip design process, with increasing design difficulty and higher demands on designers' capabilities as process nodes evolve towards 3nm-1nm[41](index=41&type=chunk)[42](index=42&type=chunk)[44](index=44&type=chunk) [Main Business, Products, or Services](index=15&type=section&id=3.1.2%20Main%20Business%2C%20Products%2C%20or%20Services) Triductor Technology specializes in R&D, design, and sales of communication core chips, offering solutions and technical support, including layout design services - The company primarily engages in the research, design, and sale of communication core chips, and provides application solutions and technical support services[45](index=45&type=chunk) - Main products include access network communication chips, power line carrier communication chips, new-generation short-range wireless SparkLink chips, and industrial communication chips[47](index=47&type=chunk) - Business also includes chip layout design services and other technical services[47](index=47&type=chunk) [Business Model](index=16&type=section&id=3.1.3%20Business%20Model) The company operates on a Fabless model, focusing on chip R&D and design, with diverse revenue streams and a matrix-based R&D management - The company adopts a Fabless business model, focusing on chip product and related technology R&D, while wafer manufacturing, packaging, and testing are outsourced to professional vendors[54](index=54&type=chunk) - The revenue model is diverse, including IP design and development services, mass production services based on IP licensing, chip and module sales, access network technology development services, SparkLink chip and EtherCAT industrial slave chip sales, chip layout design services, and other technical services[51](index=51&type=chunk)[52](index=52&type=chunk) - The R&D model employs matrix-based platform management, with multiple R&D departments and product lines to enhance R&D efficiency and market responsiveness[53](index=53&type=chunk) - The sales model is primarily direct sales, with both direct sales and distribution channels for access network chips and solutions[56](index=56&type=chunk) [Company's Industry Position](index=18&type=section&id=3.1.4%20Company's%20Industry%20Position) Triductor Technology holds leading positions in PLC, wired access networks, SparkLink, EtherCAT industrial chips, and advanced chip layout design services - In the power line carrier communication industry, as State Grid's communication standard fully upgrades to dual-mode communication, the company's market share is expected to further increase due to its technological accumulation, and it has successfully entered the photovoltaic communication field[57](index=57&type=chunk) - In wired access networks, the company is one of the earliest domestic enterprises to independently research and master VDSL2 broadband access technology, with products certified by globally renowned telecom operators such as British Telecom, Telefónica, and Deutsche Telekom[58](index=58&type=chunk) - In wireless WiFi access, the company's WiFi AP chips are promoted as a chipset solution with gateway SoC chips and have been accepted and recognized by domestic and international customers[60](index=60&type=chunk) - In wireless and SparkLink business, the company is a council member of the international SparkLink Wireless Short-Range Communication Alliance, and its TR53XX series SparkLink chips and solutions have been applied in smart terminals such as HID mice, keyboards, and multi-mode remote controls[61](index=61&type=chunk)[62](index=62&type=chunk) - In the high-speed industrial bus industry, the company obtained authorization from Beckhoff Automation GmbH & Co. KG (Germany) and launched its first EtherCAT slave controller chip, achieving sales to customers in industrial and medical fields, reaching mainstream international competitor parameter levels, and steadily advancing domestic substitution[66](index=66&type=chunk)[67](index=67&type=chunk) - In chip layout design, the company possesses 16nm/14nm/10nm/7nm/5nm FinFET process chip layout design capabilities, placing its technical level among the domestic advanced, and is one of the few domestic enterprises with a large team specializing in chip layout design services[68](index=68&type=chunk)[70](index=70&type=chunk) [Discussion and Analysis of Operations](index=21&type=section&id=3.2%20Discussion%20and%20Analysis%20of%20Operations) The company focused on core communication chips, but H1 2025 revenue decreased by 35.72% due to inventory adjustments and slower demand, while maintaining high R&D investment - The company focused on its core communication chip business, continuously expanding its product portfolio and increasing R&D and market promotion for high-speed industrial communication chips and new-generation short-range wireless SparkLink chips[70](index=70&type=chunk) - In H1 2025, operating revenue was **183,211,267.89 yuan**, a year-on-year decrease of **35.72%**; net profit attributable to the parent company's owners was **31,901,356.50 yuan**, a year-on-year decrease of **8.77%**[71](index=71&type=chunk) - The decrease in operating revenue was mainly due to insufficient customer demand in the access network product line and the destocking cycle of chips related to the operator market[71](index=71&type=chunk) - The company's comprehensive gross profit margin was **31.28%**, an increase of **2.03 percentage points** compared to the same period last year[71](index=71&type=chunk) - The company actively responded to the interim dividend policy, distributing a total cash dividend of **21,635,258.18 yuan** (including tax) for 2024, accounting for **35.78%** of the net profit attributable to shareholders of the listed company in the 2024 consolidated financial statements[72](index=72&type=chunk) - In H1 2025, R&D investment was **38,608,568.48 yuan**, accounting for **21.07%** of operating revenue, primarily comprising depreciation and amortization expenses, R&D personnel salaries, and share-based payment expenses[74](index=74&type=chunk) - The company continues to improve its corporate governance structure, planning to comprehensively revise its Articles of Association and supporting systems in H2 2025, abolishing the supervisory board and strengthening the audit committee's functions[75](index=75&type=chunk) - The company strengthens communication with investors through various channels such as performance briefings, investor conferences, and investor hotlines, ensuring shareholders' right to information and participation[77](index=77&type=chunk) [Analysis of Core Competencies During the Reporting Period](index=23&type=section&id=3.3%20Analysis%20of%20Core%20Competencies%20During%20the%20Reporting%20Period) Triductor Technology's core strengths lie in its physical layer communication algorithms and large SoC chip design capabilities, supported by high R&D investment and a strong team [Core Competency Analysis](index=23&type=section&id=3.3.1%20Core%20Competency%20Analysis) The company's core competencies include physical layer communication algorithms and large SoC chip design, maintaining leadership through continuous R&D and strategic partnerships - The company possesses "physical layer core communication algorithm capabilities" and "large SoC chip design capabilities"[78](index=78&type=chunk) - In power line carrier communication chips, independently developed chips can adapt to complex power grid environments, with dual-mode chips significantly improving noise immunity[78](index=78&type=chunk) - In access network chips, the company's developed DSL access network chips have reached the fourth-generation G.fast technical standard, and WiFi AP chips, with their high technical difficulty, possess considerable competitive strength[80](index=80&type=chunk) - Chip layout design process level reaches **16nm/14nm/10nm/7nm/5nm FinFET**, placing it at an advanced domestic level[81](index=81&type=chunk) - As a council member of the SparkLink Alliance, the TR53XX series SparkLink chips and solutions feature low latency, high throughput, and high concurrency, and have been widely applied in smart terminals[82](index=82&type=chunk)[83](index=83&type=chunk) - The EtherCAT slave controller chip, authorized by Beckhoff Automation GmbH & Co. KG (Germany), is suitable for motor motion control, factory automation, and humanoid robot joint communication modules[84](index=84&type=chunk)[85](index=85&type=chunk) - In H1 2025, R&D investment was **38.61 million yuan**, accounting for **21.07%** of operating revenue, with continuous high R&D investment providing impetus for technological innovation[86](index=86&type=chunk) - The company adopts matrix-based platform management, establishing multiple product lines, which facilitates technology reuse and market adaptability[87](index=87&type=chunk) - Long-term friendly cooperative relationships have been established with operators, power grids, wafer manufacturers, and semiconductor packaging and testing companies, ensuring stable operations[88](index=88&type=chunk) - The company possesses a high-caliber R&D technical team, maintaining long-term corporate competitiveness through systematic human resource system construction[89](index=89&type=chunk) [Core Technologies, Their Advanced Nature, and Changes During the Reporting Period](index=26&type=section&id=3.3.2%20Core%20Technologies%2C%20Their%20Advanced%20Nature%2C%20and%20Changes%20During%20the%20Reporting%20Period) The company's core technologies, all self-developed, span PLC, access network chips, analog circuit design, and mixed-signal/layout design, with continuous innovation maintaining their advanced nature - The company's core technologies are all derived from independent R&D, forming multiple independent intellectual property rights[91](index=91&type=chunk) - Core technologies are categorized into four main types: power line carrier communication chip-related algorithms and software, access network chip-related algorithms and software, analog circuit design, and mixed-signal and layout design[91](index=91&type=chunk) - Power line carrier communication chip-related technologies include receiver adaptive automatic gain control, TRIOS embedded multi-threaded operating system microkernel, CSMA technology based on power line characteristics, centralized management plus distributed routing algorithms, power line data acquisition and channel analysis software, power line dynamic channel evaluation technology, IoT-based communication control and management technology, smart meter reading management technology, substation area identification algorithms, phase identification algorithms, and TRLIBC C language library for memory-constrained embedded systems[91](index=91&type=chunk)[93](index=93&type=chunk)[96](index=96&type=chunk)[97](index=97&type=chunk) - Access network chip-related technologies include multi-channel clock recovery technology, low-crosstalk time-domain equalization technology, flexible and configurable Fast Fourier Transform technology, gateway system boot software, xDSL gateway application management system software, data block automatic retransmission technology, Multiple-Input Multiple-Output (MIMO) technology, and parallel processing technology for multiple communication ports[93](index=93&type=chunk)[94](index=94&type=chunk)[95](index=95&type=chunk) - Analog circuit design technologies include analog baseband and radio frequency circuit design technology, low-cost single RF tone signal self-calibration scheme, segmented compensation low-temperature coefficient bandgap reference circuit, filter bandwidth precise and fast calibration circuit, a charge pump circuit with reference branch, a phase-locked loop pre-emphasis system, and a high-speed SAR-ADC with redundant algorithm[94](index=94&type=chunk)[95](index=95&type=chunk)[96](index=96&type=chunk) - Mixed-signal and layout design technologies include mainstream full-process SoC chip design technology, a voltage comparison circuit, an RF receiving front-end circuit for filtering interference within the target frequency band of RF signals, an RF receiving front-end circuit for filtering interference outside the target frequency band of RF signals, indoor environment area intrusion detection using SparkLink technology, a fast synchronization method for SparkLink basic access wireless short-range communication, a buffer, a circuit with reference, a time-division bandgap reference circuit and control method, area intrusion detection method, device, computer equipment and storage medium, synchronous communication method, device, computer equipment and storage medium, frequency offset correction method, device, computer equipment and storage medium, and decoding path determination method, device, equipment, medium and program product[96](index=96&type=chunk)[97](index=97&type=chunk) - The company was recognized as a national "Little Giant" enterprise specializing in niche sectors, with its product named "Home Access Network Chip"[98](index=98&type=chunk) [R&D Achievements During the Reporting Period](index=31&type=section&id=3.3.3%20R%26D%20Achievements%20During%20the%20Reporting%20Period) The company applied for 1 new invention patent and obtained 1 integrated circuit layout design, accumulating 11 invention patents and 24 layout designs - One new invention patent application was filed, and one integrated circuit layout design was obtained[99](index=99&type=chunk) List of Intellectual Property Obtained During the Reporting Period | | New Applications in Current Period (units) | New Acquisitions in Current Period (units) | Cumulative Applications (units) | Cumulative Acquisitions (units) | | :--- | :--- | :--- | :--- | :--- | | Invention Patents | 1 | 0 | 35 | 11 | | Utility Model Patents | 0 | 0 | 7 | 7 | | Software Copyrights | 0 | 0 | 87 | 87 | | Other (Integrated Circuit Layout Designs) | 0 | 1 | 24 | 24 | | **Total** | **1** | **1** | **153** | **129** | [R&D Investment Table](index=32&type=section&id=3.3.4%20R%26D%20Investment%20Table) In H1 2025, total R&D investment was 38.61 million yuan, a 36.12% decrease year-on-year, representing 21.07% of operating revenue R&D Investment Status | Indicator | Current Period Amount (yuan) | Prior Year Period Amount (yuan) | Change (%) | | :--- | :--- | :--- | :--- | | Expensed R&D Investment | 38,608,568.48 | 60,436,182.26 | -36.12 | | Total R&D Investment | 38,608,568.48 | 60,436,182.26 | -36.12 | | Total R&D Investment as % of Operating Revenue (%) | 21.07 | 21.20 | Decreased by 0.13 percentage points | - The **36.12%** decrease in R&D investment primarily stems from significant reductions in intangible asset amortization, long-term deferred expense amortization, employee compensation, and material costs, as the company implemented cost reduction and efficiency improvement strategies[103](index=103&type=chunk) [R&D Project Status](index=33&type=section&id=3.3.5%20R%26D%20Project%20Status) The company's R&D projects, with a total investment of 537 million yuan, are in continuous development, focusing on xDSL, PLC, short-range wireless AP, industrial bus, and automotive communication chips R&D Project Status | Project Name | Estimated Total Investment (yuan) | Current Period Investment (yuan) | Cumulative Investment (yuan) | Progress or Stage Achievements | Intended Goals | Technical Level | Specific Application Prospects | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Design, Development, and Industrialization of Next-Generation Broadband Internet Gateway Access Technology - xDSL Chip VI | 100,000,000.00 | 15,174,293.07 | 57,592,835.57 | Continuous development | Develop VDSL2 chips based on ITU-T G.993.2 technical standard, implementing physical layer bidirectional modulation and demodulation at central office and user end | Domestically advanced | Enhance telephone line communication bandwidth, promote high-speed growth of internet voice, video, and data services | | R&D and Industrialization of High-Performance Broadband Power Line Carrier Communication Chips for Smart IoT III | 80,000,000.00 | 8,182,972.56 | 28,046,311.91 | Continuous development | Tackle core technologies for low-power, long-distance wireless communication and develop wireless communication chips for large-scale applications, based on which diverse application solutions are developed | Domestically advanced | Widely applied in domestic and international IoT applications using high-speed power line carrier as communication connection method | | Design, Development, and Industrialization of Short-Range Wireless High-Speed AP Chips | 244,000,000.00 | 904,005.32 | 150,611,537.64 | Continuous development | Achieve further accumulation and breakthroughs in WiFi chip-related technologies, obtain better chip product performance, and develop easier calibration and more convenient production test solutions | Domestically advanced | WiFi technology gradually expands application markets, penetrating smart home, smart city, smart manufacturing, and other IoT application scenarios | | R&D and Industrialization of High-Speed Industrial Bus Interconnection Chips Project II | 10,000,000.00 | 1,639,349.33 | 4,823,672.39 | Continuous development | Develop communication chips supporting multi-mode, industrial Ethernet communication protocols, thereby achieving compatibility and interoperability between industrial bus communication protocols and devices | Domestically advanced | Industrial fieldbus and industrial Ethernet are major technologies in industrial communication, widely used for communication and connection of programmable controllers, motion control systems, and other equipment | | R&D and Industrialization Project for New Automotive Short-Range Wireless Communication Technology | 103,000,000.00 | 12,707,948.20 | 139,725,352.51 | Continuous development | Provide communication chips with low latency, high reliability, high security, and deterministic quality of service in short-range scenarios | Domestically advanced | Smart automotive, smart manufacturing, smart terminal, and smart home fields | | **Total** | **537,000,000.00** | **38,608,568.48** | **380,799,710.02** | | | | | [R&D Personnel Information](index=35&type=section&id=3.3.6%20R%26D%20Personnel%20Information) As of the reporting period end, the company had 116 R&D personnel, accounting for 27.36% of total staff, with an average annual salary of 258,300 yuan R&D Personnel Basic Information | Indicator | Current Period Number | Prior Year Period Number | | :--- | :--- | :--- | | Number of company R&D personnel (persons) | 116 | 120 | | R&D personnel as % of total company personnel (%) | 27.36 | 27.84 | | Total R&D personnel compensation (ten thousand yuan) | 988.11 | 1,662.59 | | Average R&D personnel compensation (ten thousand yuan) | 25.83 | 22.60 | R&D Personnel Education Level | Education Level | Number (persons) | Proportion (%) | | :--- | :--- | :--- | | Doctorate | 1 | 0.86 | | Master's | 30 | 25.86 | | Bachelor's | 80 | 68.97 | | Junior College | 5 | 4.31 | | **Total** | **116** | **100.00** | R&D Personnel Age Structure | Age Range | Number (persons) | Proportion (%) | | :--- | :--- | :--- | | Under 30 years old | 54 | 46.55 | | 31-40 years old | 46 | 39.66 | | 41-50 years old | 16 | 13.79 | | **Total** | **116** | **100.00** | [Risk Factors](index=35&type=section&id=3.4%20Risk%20Factors) The company faces risks including new product development shortfalls, talent shortages, industry cycle fluctuations, international trade friction, and declining access network business revenue - Risk of new product expansion falling short of expectations: The company invests significant costs annually in new product development; misjudgment or delayed delivery could lead to R&D failure, inability to recover initial investments, impact on competitive advantage, and customer loss[108](index=108&type=chunk) - Risk of core technical personnel shortage and core technology leakage: The semiconductor design industry is intellectual-intensive, and the loss or failure to attract core technical personnel will adversely affect technology R&D and sustainable development[109](index=109&type=chunk)[110](index=110&type=chunk) - Industry fluctuation risk: The integrated circuit industry has cyclical fluctuations, and downstream customer demand is affected by economic downturns and changes in smart grid and access network market policies, which may lead to a decline in the company's sales scale[111](index=111&type=chunk) - International trade friction risk: International trade friction and protectionist measures may adversely affect the company's operating performance, although they have not yet impacted sales revenue[112](index=112&type=chunk) - Risk of continuous decline in the company's access network product line revenue: Revenue from access network chips and solutions business continues to decline; if downstream customer demand does not recover, production capacity is limited, or market competition intensifies, it will adversely affect operating performance[113](index=113&type=chunk) [Key Operating Performance During the Reporting Period](index=36&type=section&id=3.5%20Key%20Operating%20Performance%20During%20the%20Reporting%20Period) Revenue decreased by 35.72% to 183.21 million yuan, and net profit decreased by 8.77% to 31.90 million yuan, primarily due to reduced demand in access network business [Main Business Analysis](index=37&type=section&id=3.5.1%20Main%20Business%20Analysis) Operating revenue and cost decreased significantly due to reduced access network demand, while sales and administrative expenses increased, and R&D expenses decreased Financial Statement Related Item Fluctuation Analysis Table | Item | Current Period Amount (yuan) | Prior Year Period Amount (yuan) | Change (%) | | :--- | :--- | :--- | :--- | | Operating Revenue | 183,211,267.89 | 285,037,202.37 | -35.72 | | Operating Cost | 125,909,462.96 | 201,685,280.03 | -37.57 | | Selling Expenses | 2,205,265.09 | 1,772,389.75 | 24.42 | | Administrative Expenses | 10,096,765.81 | 8,271,562.16 | 22.07 | | Financial Expenses | -14,313,060.45 | -15,794,841.40 | Not applicable | | R&D Expenses | 38,608,568.48 | 60,436,182.26 | -36.12 | | Net Cash Flow from Operating Activities | 16,208,637.07 | -77,438,274.13 | Not applicable | | Net Cash Flow from Investing Activities | 26,629,311.83 | -79,058,477.25 | Not applicable | | Net Cash Flow from Financing Activities | -74,709,645.74 | 11,352,096.58 | -758.11 | - The decrease in operating revenue is mainly due to the destocking cycle of chips related to the operator market and a slowdown in overall demand from downstream customers for access networks[115](index=115&type=chunk) - The increase in selling expenses is mainly due to increased sales personnel salaries, travel expenses, and business entertainment expenses[116](index=116&type=chunk) - The increase in administrative expenses is mainly due to increased employee compensation and depreciation and amortization of buildings[116](index=116&type=chunk) - The decrease in R&D expenses is mainly due to reduced employee compensation, depreciation and amortization, and material costs[116](index=116&type=chunk) - The change in net cash flow from operating activities is mainly due to a decrease in other cash payments related to operating activities compared to the same period last year[116](index=116&type=chunk) - The change in net cash flow from investing activities is mainly due to higher redemption amounts of wealth management products in the current period compared to the same period last year, with a corresponding decrease in purchase amounts[116](index=116&type=chunk) - The change in net cash flow from financing activities is primarily due to the reduction in bank loan scale and the gradual repayment of loans[116](index=116&type=chunk) [Analysis of Assets and Liabilities](index=38&type=section&id=3.5.2%20Analysis%20of%20Assets%20and%20Liabilities) Total assets decreased by 11.17% to 1.84 billion yuan, with significant changes in cash, receivables, and short-term borrowings, and total liabilities decreased by 45.09% Asset and Liability Status Changes | Item Name | Period-End Amount (yuan) | % of Total Assets | Prior Year-End Amount (yuan) | % of Total Assets | Change from Prior Year-End (%) | Explanation | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Cash and Cash Equivalents | 98,773,866.96 | 5.38 | 130,650,487.58 | 6.32 | -24.40 | Payment of 2024 cash dividends and daily operating expenses | | Notes Receivable | 6,009,660.97 | 0.33 | 3,150,953.96 | 0.15 | 90.73 | Increase in bank acceptance bills received from customers | | Accounts Receivable | 145,889,765.06 | 7.95 | 284,980,030.70 | 13.79 | -48.81 | Collection of sales proceeds from customers | | Prepayments | 45,939,841.83 | 2.50 | 61,316,116.79 | 2.97 | -25.08 | Prepayments to suppliers settled as per contract | | Net Inventory | 96,801,080.29 | 5.27 | 88,065,014.91 | 4.26 | 9.92 | Increase in technical contract service costs | | Non-Current Assets Due Within One Year | 353,651,597.26 | 19.26 | 130,893,958.34 | 6.33 | 170.18 | Reclassification of maturing three-year large-denomination certificates of deposit | | Other Current Assets | 489,709,972.23 | 26.68 | 432,090,549.87 | 20.91 | 13.34 | Increase in large-denomination certificates of deposit held | | Intangible Assets | 35,153,421.81 | 1.91 | 56,033,096.90 | 2.71 | -37.26 | Due to amortization | | Other Non-Current Assets | 121,550,221.78 | 6.62 | 436,716,135.67 | 21.13 | -72.17 | Reclassified to non-current assets due within one year | | Short-Term Borrowings | 51,594,709.56 | 2.81 | 104,116,404.11 | 5.04 | -50.45 | Repayment of bank loans | | Accounts Payable | 103,643,449.14 | 5.65 | 282,697,986.23 | 13.68 | -63.34 | Payment of procurement amounts due | - As of the end of the reporting period, the company's major restricted assets included cash and cash equivalents, non-current assets due within one year, other current assets, and other non-current assets, totaling **925,146,407.71 yuan**, primarily comprising principal and accrued interest of large-denomination certificates of deposit[122](index=122&type=chunk) [Investment Status Analysis](index=40&type=section&id=3.5.3%20Investment%20Status%20Analysis) The company's equity investments are primarily in private equity funds, with fair value financial assets totaling 330 million yuan at period-end Financial Assets Measured at Fair Value | Asset Category | Beginning Balance (yuan) | Purchases in Current Period (yuan) | Sales/Redemptions in Current Period (yuan) | Ending Balance (yuan) | | :--- | :--- | :--- | :--- | :--- | | Trading Financial Assets | 167,427,384.60 | 594,767,000.00 | 594,560,495.86 | 169,039,679.07 | | Notes Receivable Financing | 14,757,333.10 | 15,409,840.30 | 14,757,333.10 | 15,409,840.30 | | Other Equity Instrument Investments | 18,700,000.00 | - | - | 18,700,000.00 | | Other Non-Current Financial Assets | 119,279,330.93 | 7,600,000.00 | - | 126,879,330.93 | | **Total** | **320,164,048.63** | **617,776,840.30** | **609,317,828.96** | **330,028,850.30** | - The company participated in several private equity investment funds, such as Suzhou Kaifeng Chuangxin Venture Capital Partnership (Limited Partnership), Suzhou Yuanke No. 1 Real Estate Investment Partnership (Limited Partnership), Hangzhou Kaifeng Qiande Investment Partnership (Limited Partnership), and Suzhou Industrial Park Hechuang Zhiyuan Phase II Digital Technology Investment Partnership (Limited Partnership), with investment objectives primarily for investment returns and industry chain layout[127](index=127&type=chunk)[128](index=128&type=chunk) [Analysis of Major Holding and Participating Companies](index=43&type=section&id=3.5.4%20Analysis%20of%20Major%20Holding%20and%20Participating%20Companies) Chongqing Triductor Technology Co., Ltd. reported a net profit of 7.84 million yuan, and two new wholly-owned subsidiaries were established - Major subsidiary Chongqing Triductor Technology Co., Ltd., with a registered capital of **28 million yuan**, reported a net profit of **7,839,141.28 yuan** during the reporting period[130](index=130&type=chunk) - Two new wholly-owned subsidiaries were established during the reporting period: Xi'an Triductor Communication Technology Co., Ltd. and Triductor (Suzhou) Human Resources Co., Ltd., which had a minor impact on overall production, operations, and performance[131](index=131&type=chunk) Section IV Corporate Governance, Environment, and Society This section covers changes in the company's directors, supervisors, senior management, core technical personnel, profit distribution plans, and environmental and social responsibilities [Changes in Company Directors, Supervisors, Senior Management, and Core Technical Personnel](index=45&type=section&id=4.1%20Changes%20in%20Company%20Directors%2C%20Supervisors%2C%20Senior%20Management%2C%20and%20Core%20Technical%20Personnel) There were no changes in the company's directors, supervisors, senior management, and core technical personnel during the reporting period - The changes in the company's directors, supervisors, senior management, and core technical personnel are "not applicable"[133](index=133&type=chunk) [Profit Distribution or Capital Reserve Conversion Plan](index=45&type=section&id=4.2%20Profit%20Distribution%20or%20Capital%20Reserve%20Conversion%20Plan) The company has no proposed profit distribution or capital reserve conversion plan for the half-year period - Whether to distribute or convert: No[133](index=133&type=chunk) [Status and Impact of Company Equity Incentive Plans, Employee Stock Ownership Plans, or Other Employee Incentive Measures](index=45&type=section&id=4.3%20Status%20and%20Impact%20of%20Company%20Equity%20Incentive%20Plans%2C%20Employee%20Stock%20Ownership%20Plans%2C%20or%20Other%20Employee%20Incentive%20Measures) There was no progress or change in the company's equity incentive plans, employee stock ownership plans, or other employee incentive measures - Relevant equity incentive matters that have been disclosed in temporary announcements and have no subsequent progress or changes are "not applicable"[134](index=134&type=chunk) [Environmental Information of Listed Companies and Their Major Subsidiaries Included in the List of Enterprises Required to Disclose Environmental Information](index=45&type=section&id=4.4%20Environmental%20Information%20of%20Listed%20Companies%20and%20Their%20Major%20Subsidiaries%20Included%20in%20the%20List%20of%20Enterprises%20Required%20to%20Disclose%20Environmental%20Information) The company is not included in the list of enterprises required to disclose environmental information, thus no related disclosure is provided - The company is not included in the list of enterprises required to disclose environmental information[134](index=134&type=chunk) [Specifics of Work on Consolidating and Expanding Poverty Alleviation Achievements, Rural Revitalization, etc.](index=45&type=section&id=4.5%20Specifics%20of%20Work%20on%20Consolidating%20and%20Expanding%20Poverty%20Alleviation%20Achievements%2C%20Rural%20Revitalization%2C%20etc.) The company is not involved in work related to consolidating poverty alleviation achievements or rural revitalization - The company is not involved in work related to consolidating and expanding poverty alleviation achievements, rural revitalization, etc[134](index=134&type=chunk) Section V Significant Matters This section details the fulfillment of commitments, absence of fund occupation or illegal guarantees, audit status, major litigation, related party transactions, and progress on raised funds [Fulfillment of Commitments](index=46&type=section&id=5.1%20Fulfillment%20of%20Commitments) The controlling shareholder, actual controller, and other related parties have strictly fulfilled commitments regarding share lock-up, price stabilization, anti-fraud, and profit distribution - Controlling shareholder Chuangruiying and actual controller YAOLONG TAN committed not to transfer pre-IPO shares within **36 months** from the listing date, and the reduction price will not be lower than the offering price for two years after the lock-up period expires[136](index=136&type=chunk) - Actual controller YAOLONG TAN committed that if serving as a director, supervisor, or senior manager, the number of shares transferred annually shall not exceed **25%** of his total holdings; if serving as a core technical personnel, the annual transfer shall not exceed **25%** of the total shares held at the time of listing within four years after the lock-up period expires[137](index=137&type=chunk) - The company, controlling shareholder, actual controller, directors, and senior managers committed to stabilizing the stock price[140](index=140&type=chunk) - The company, controlling shareholder Chuangruiying, and actual controller YAOLONG TAN committed to repurchase shares in case of fraudulent issuance and listing[140](index=140&type=chunk) - The company, controlling shareholder Chuangruiying, actual controller YAOLONG TAN, directors, and senior managers committed to compensating for diluted immediate returns[140](index=140&type=chunk)[141](index=141&type=chunk) - The company committed to strictly implement the profit distribution policy, and the controlling shareholder, actual controller, directors, supervisors, and senior managers committed to supervise and vote in favor[141](index=141&type=chunk) - Controlling shareholder Chuangruiying and actual controller YAOLONG TAN committed to resolve horizontal competition, avoiding businesses or activities that compete with the company's main business[141](index=141&type=chunk)[142](index=142&type=chunk) - Controlling shareholder Chuangruiying, actual controller YAOLONG TAN, shareholders holding **5%** or more of shares, and all directors, supervisors, and senior managers committed to resolving related party transactions, avoiding unnecessary related party transactions, and conducting them on fair and equitable principles[142](index=142&type=chunk)[143](index=143&type=chunk) - Actual controller YAOLONG TAN committed to indemnify the issuer for cash compensation required due to historical equity incentives and fines required due to re-lending situations[144](index=144&type=chunk) - The company committed to truthfully, accurately, and completely disclose shareholder information, ensuring no nominee shareholding, prohibited entities holding shares, or improper benefit transfers[145](index=145&type=chunk) [Non-Operating Fund Occupation by Controlling Shareholder and Other Related Parties During the Reporting Period](index=55&type=section&id=5.2%20Non-Operating%20Fund%20Occupation%20by%20Controlling%20Shareholder%20and%20Other%20Related%20Parties%20During%20the%20Reporting%20Period) There was no non-operating fund occupation by the controlling shareholder or other related parties during the reporting period - The company had no non-operating fund occupation by controlling shareholders or other related parties[145](index=145&type=chunk) [Irregular Guarantees](index=56&type=section&id=5.3%20Irregular%20Guarantees) There were no irregular guarantees by the company during the reporting period - The company had no irregular guarantees during the reporting period[146](index=146&type=chunk) [Half-Year Report Audit Status](index=56&type=section&id=5.4%20Half-Year%20Report%20Audit%20Status) This half-year report has not been audited - This half-year report has not been audited[5](index=5&type=chunk) [Major Litigation and Arbitration Matters](index=56&type=section&id=5.5%20Major%20Litigation%20and%20Arbitration%20Matters) There were no major litigation or arbitration matters for the company during the reporting period - The company had no major litigation or arbitration matters during this reporting period[146](index=146&type=chunk) [Major Related Party Transactions](index=56&type=section&id=5.6%20Major%20Related%20Party%20Transactions) The company engaged in a significant related party transaction by co-investing in Suzhou Industrial Park Hechuang Zhiyuan Phase II Digital Technology Investment Partnership - The company, as a limited partner, invested **19.00 million yuan** to purchase approximately **5.94%** of the shares in Suzhou Industrial Park Hechuang Zhiyuan Phase II Digital Technology Investment Partnership (Limited Partnership)[147](index=147&type=chunk) - Suzhou Industrial Park Hechuang Zhiyuan Phase II Digital Technology Investment Partnership (Limited Partnership) was established in March 2025, and the company has paid **7.60 million yuan** in investment funds during the reporting period[147](index=147&type=chunk) [Explanation of Progress in Use of Raised Funds](index=59&type=section&id=5.7%20Explanation%20of%20Progress%20in%20Use%20of%20Raised%20Funds) Total raised funds were 1.332 billion yuan, with 1.22 billion yuan net, and 1.10 billion yuan (89.86%) has been invested, including 819 million yuan (92.57%) of over-raised funds Overall Use of Raised Funds | Source of Raised Funds | Total Raised Funds (yuan) | Net Raised Funds (1) (yuan) | Total Committed Investment in Prospectus or Offering Document (2) (yuan) | Total Over-Raised Funds (3)=(1)-(2) (yuan) | Cumulative Raised Funds Invested as of Period-End (4) (yuan) | Cumulative Over-Raised Funds Invested as of Period-End (5) (yuan) | Cumulative Investment Progress as of Period-End (6)=(4)/(1) (%) | Cumulative Over-Raised Funds Investment Progress as of Period-End (7)=(5)/(3) (%) | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Initial Public Offering of Shares | 1,332,000,000.00 | 1,219,645,063.27 | 334,601,900.00 | 885,043,163.27 | 1,095,948,805.58 | 819,304,479.43 | 89.86 | 92.57 | Details of Raised Fund Investment Projects | Project Name | Committed Investment Amount (yuan) | Cumulative Raised Funds Invested as of Period-End (yuan) | Cumulative Investment Progress as of Period-End (%) | | :--- | :--- | :--- | :--- | | R&D and System Application Project for Power IoT Chips | 81,949,300.00 | 69,172,981.62 | 84.41 | | R&D and System Application Project for Access SV Transmission Chips and Forwarding Chips | 131,794,400.00 | 123,063,144.53 | 93.38 | | R&D Center Construction Project | 120,858,200.00 | 84,408,200.00 | 69.84 | Details of Over-Raised Funds Usage | Purpose | Planned Investment of Over-Raised Funds (yuan) | Cumulative Over-Raised Funds Invested as of Period-End (yuan) | Cumulative Investment Progress as of Period-End (%) | | :--- | :--- | :--- | :--- | | Permanent Working Capital Supplement | 780,000,000.00 | 780,000,000.00 | 100.00 | | Share Repurchase | 39,304,479.43 | 39,304,479.43 | 100.00 | | **Total** | **885,043,163.27** | **819,304,479.43** | **92.57** | - The company uses a portion of temporarily idle raised funds for cash management, up to a maximum of **550 million yuan**, to purchase highly secure, liquid, and principal-guaranteed wealth management products[154](index=154&type=chunk)[155](index=155&type=chunk) Section VI Share Changes and Shareholder Information This section details changes in the company's share capital, including the release of restricted shares, and provides an overview of the shareholder structure [Share Capital Changes](index=63&type=section&id=6.1%20Share%20Capital%20Changes) The company's total share capital remained unchanged, but restricted shares decreased by 30,955,680 shares due to the lifting of lock-up on controlling shareholder's shares Share Change Table | | Number Before This Change (shares) | Proportion Before This Change (%) | Increase/Decrease in This Change (+,-) Subtotal (shares) | Number After This Change (shares) | Proportion After This Change (%) | | :--- | :--- | :--- | :--- | :--- | :--- | | I. Restricted Shares | 30,955,680 | 27.71 | -30,955,680 | 0 | 0 | | Of which: Domestic Non-State-Owned Legal Person Shares | 30,955,680 | 27.71 | -30,955,680 | 0 | 0 | | II. Unrestricted Tradable Shares | 80,744,320 | 72.29 | 30,955,680 | 111,700,000 | 100.00 | | Of which: RMB Ordinary Shares | 80,744,320 | 72.29 | 30,955,680 | 111,700,000 | 100.00 | | **III. Total Shares** | **111,700,000** | **100.00** | **0** | **111,700,000** | **100.00** | - On January 13, 2025, the initial public offering restricted shares of controlling shareholder Chongqing Chuangruiying Enterprise Management Co., Ltd. became tradable upon expiration of the lock-up period[162](index=162&type=chunk) [Changes in Restricted Shares](index=64&type=section&id=6.2%20Changes%20in%20Restricted%20Shares) Chongqing Chuangruiying Enterprise Management Co., Ltd.'s 30,955,680 restricted shares were released from lock-up, resulting in zero restricted shares at period-end Restricted Share Change Status | Shareholder Name | Restricted Shares at Beginning of Period (shares) | Restricted Shares Released in Reporting Period (shares) | Restricted Shares Increased in Reporting Period (shares) | Restricted Shares at End of Reporting Period (shares) | Reason for Restriction | Date of Release from Restriction | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Chongqing Chuangruiying Enterprise Management Co., Ltd. | 30,955,680 | 30,955,680 | 0 | 0 | Initial Public Offering Restricted Shares | January 13, 2025 | | **Total** | **30,955,680** | **30,955,680** | **0** | **0** | | | [Shareholder Information](index=64&type=section&id=6.3%20Shareholder%20Information) As of the reporting period end, the company had 7,883 ordinary shareholders, with Chongqing Chuangruiying Enterprise Management Co., Ltd. as the largest shareholder - Total number of ordinary shareholders at the end of the reporting period: **7,883 households**[165](index=165&type=chunk) Top Ten Shareholders' Shareholding Status | Shareholder Name (Full Name) | Shares Held at Period-End (shares) | Proportion (%) | Number of Restricted Shares Held (shares) | Shareholder Nature | | :--- | :--- | :--- | :--- | :--- | | Chongqing Chuangruiying Enterprise Management Co., Ltd. | 30,955,680 | 27.71 | 0 | Domestic Non-State-Owned Legal Person | | Ningbo Free Trade Zone Kaifeng Venture Capital Management Co., Ltd. - Huzhou Kaifeng Houze Equity Investment Partnership (Limited Partnership) | 15,711,704 | 14.07 | 0 | Other | | China-Singapore Suzhou Industrial Park Venture Capital Co., Ltd. | 6,640,956 | 5.95 | 0 | State-Owned Legal Person | | Changjiang Growth Capital Investment Co., Ltd. | 3,490,652 | 3.13 | 0 | Domestic Non-State-Owned Legal Person | | Xinyu High-tech Zone Meisheng Enterprise Management Consulting Partnership (Limited Partnership) | 1,853,440 | 1.66 | 0 | Other | | Shouning Investment Management (Shanghai) Co., Ltd. - Shouning Dianjin No. 12 Private Securities Investment Fund | 1,161,996 | 1.04 | 0 | Other | | Zhoushan Banxia Investment Partnership (Limited Partnership) | 976,657 | 0.87 | 0 | Other | | Infinity (Zhuhai) Venture Capital Management Co., Ltd. - Zhuhai China-Israel Infinity Emerging Industry Investment Fund (Limited Partnership) | 885,908 | 0.79 | 0 | Other | | Ying Lingmin | 696,760 | 0.62 | 0 | Domestic Natural Person | | Hong Hongwei | 600,905 | 0.54 | 0 | Domestic Natural Person | - The ninth-ranked domestic natural person investor, Ying Lingmin, holds **127,169 shares** through an ordinary securities account and **569,591 shares** through a credit securities account, totaling **696,760 shares** in the company[167](index=167&type=chunk) [Information on Directors, Supervisors, Senior Management, and Core Technical Personnel](index=67&type=section&id=6.4%20Information%20on%20Directors%2C%20Supervisors%2C%20Senior%20Management%2C%20and%20Core%20Technical%20Personnel) Indirect shareholdings of directors, supervisors, senior management, and core technical personnel increased due to subscriptions to the "Kongqing No. 4" employee stock ownership platform Changes in Shareholdings of Directors, Supervisors, Senior Management, and Core Technical Personnel | Name | Position | Indirect Shareholding at Beginning of Period (shares) | Indirect Shareholding at End of Period (shares) | Change in Indirect Shareholding During Reporting Period (shares) | Reason for Change | | :--- | :--- | :--- | :--- | :--- | :--- | | YAOLONG TAN | Chairman, General Manager | 16,666,269.65 | 16,669,878.28 | 3,608.63 | Subscription to Kongqing No. 4 partnership shares, leading to an increase in indirect shareholding | | WANG Wanli | Director, Deputy General Manager | 1,585,983.00 | 1,588,147.93 | 2,164.93 | Subscription to Kongqing No. 4 partnership shares, leading to an increase in indirect shareholding | | QU Junjie | Core Technical Personnel | 835,340.80 | 837,505.73 | 2,164.93 | Subscription to Kongqing No. 4 partnership shares, leading to an increase in indirect shareholding | | TAN Yuxiang | Deputy General Manager | 817,609.80 | 819,774.73 | 2,164.93 | Subscription to Kongqing No. 4 partnership shares, leading to an increase in indirect shareholding | | ZHAO Jiaxing | Director | 769,343.40 | 771,508.33 | 2,164.93 | Subscription to Kongqing No. 4 partnership shares, leading to an increase in indirect shareholding | | ZHAN Yiyu | Board Secretary | 49,901.60 | 51,344.85 | 1,443.25 | Subscription to Kongqing No. 4 partnership shares, leading to an increase in indirect shareholding | - "Kongqing No. 4" refers to Chongqing Kongqing No. 4 Enterprise Management Partnership (Limited Partnership), which is the company's employee stock ownership platform[171](index=171&type=chunk) Section VII Bond-Related Information This section confirms the absence of company bonds, enterprise bonds, non-financial enterprise debt financing instruments, or convertible corporate bonds [Company Bonds (Including Enterprise Bonds) and Non-Financial Enterprise Debt Financing Instruments](index=68&type=section&id=7.1%20Company%20Bonds%20(Including%20Enterprise%20Bonds)%20and%20Non-Financial%20Enterprise%20Debt%20Financing%20Instruments) The company has no company bonds (including enterprise bonds) or non-financial enterprise debt financing instruments - The company has no company bonds (including enterprise bonds) or non-financial enterprise debt financing instruments[173](index=173&type=chunk) [Convertible Corporate Bonds](index=68&type=section&id=7.2%20Convertible%20Corporate%20Bonds) The company has no convertible corporate bonds - The company has no convertible corporate bonds[173](index=173&type=chunk) Section VIII Financial Report This section presents the company's unaudited half-year financial statements, including balance sheets, income statements, cash flow statements, and statements of changes in equity [Audit Report](index=69&type=section&id=8.1%20Audit%20Report) This half-year report has not been audited - This half-year report has not been audited[5](index=5&type=chunk) [Financial Statements](index=69&type=section&id=8.2%20Financial%20Statements) This section provides the company's H1 2025 consolidated and parent company balance sheets, income statements, cash flow statements, and statements of changes in equity Consolidated Balance Sheet (June 30, 2025) | Item | Period-End Balance (yuan) | Period-Beginning Balance (yuan) | | :--- | :--- | :--- | | Total Assets | 1,835,667,132.10 | 2,066,516,203.30 | | Total Liabilities | 298,162,962.24 | 541,429,413.88 | | Total Equity Attributable to Parent Company Owners | 1,537,504,169.86 | 1,525,086,789.42 | Consolidated Income Statement (January-June 2025) | Item | Current Period Amount (yuan) | Prior Period Amount (yuan) | | :--- | :--- | :--- | | Total Operating Revenue | 183,211,267.89 | 285,037,202.37 | | Total Profit | 32,343,658.88 | 38,704,818.28 | | Net Profit | 31,901,356.50 | 34,967,437.42 | | Net Profit Attributable to Parent Company Shareholders | 31,901,356.50 | 34,967,437.42 | | Basic Earnings Per Share (yuan/share) | 0.29 | 0.31 | Consolidated Cash Flow Statement (January-June 2025) | Item | Current Period Amount (yuan) | Prior Period Amount (yuan) | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | 16,208,637.07 | -77,438,274.13 | | Net Cash Flow from Investing Activities | 26,629,311.83 | -79,058,477.25 | | Net Cash Flow from Financing Activities | -74,709,645.74 | 11,352,096.58 | | Net Increase in Cash and Cash Equivalents | -31,883,714.31 | -145,035,918.83 | [Company Basic Information](index=90&type=section&id=8.3%20Company%20Basic%20Information) Triductor (Suzhou) Communication Technology Co., Ltd., established in 2020 and listed in 2022, specializes in R&D, design, and sales of communication core chips - The company was registered on June 30, 2020, and listed on the STAR Market of the Shanghai Stock Exchange on January 12, 2022[209](index=209&type=chunk) - The company's current registered capital and total share capital are both **111,700,000.00 yuan**[209](index=209&type=chunk) - The company's main business activities are the research, design, and sale of high-end communication chips, communication equipment, and related software, as well as providing related services[210](index=210&type=chunk) [Basis for Preparation of Financial Statements](index=90&type=section&id=8.4%20Basis%20for%20Preparation%20of%20Financial%20Statements) The financial statements are prepared on a going concern basis, adhering to enterprise accounting standards and relevant CSRC regulations - The company prepares its financial statements on a going concern basis, in accordance with the Enterprise Accounting Standards and the China Securities Regulatory Commission's "Compilation Rules for Information Disclosure by Companies Issuing Public Securities No. 15 - General Provisions for Financial Reports (Revised in 2023)"[211](index=211&type=chunk) - There are no matters or circumstances that would cause significant doubt about the company's ability to continue as a going concern for the 12 months from the end of the reporting period[212](index=212&type=chunk) [Significant Accounting Policies and Estimates](index=90&type=section&id=8.5%20Significant%20Accounting%20Policies%20and%20Estimates) This section details the company's accounting policies and estimates for financial instruments, impairment, depreciation, deferred taxes, and revenue recognition, ensuring accurate financial reporting - The financial statements prepared by the company comply with the requirements of the Enterprise Accounting Standards, truthfully and completely reflecting the company's financial position, operating results, and cash flows[215](index=215&type=chunk) - The company's accounting year runs from January 1 to December 31 of the Gregorian calendar, with 12 months constituting an operating cycle[216](index=216&type=chunk)[217](index=217&type=chunk) - The company's functional currency is RMB[218](index=218&type=chunk) - The methods and criteria for determining materiality standards cover accounts receivable, prepayments, contract liabilities, etc[219](index=219&type=chunk) - Detailed explanations are provided for the accounting treatment of business combinations under common control and non-common control[220](index=220&type=chunk)[222](index=222&type=chunk) - The scope of consolidation for consolidated financial statements is determined based on control, including the company and all its subsidiaries[225](index=225&type=chunk) - Financial instruments are classified as financial assets and financial liabilities measured at amortized cost, at fair value through other comprehensive income, or at fair value through profit or loss[232](index=232&type=chunk)[233](index=233&type=chunk)[234](index=234&type=chunk)[235](index=235&type=chunk)[237](index=237&type=chunk) - Expected credit losses for notes receivable, accounts receivable, notes receivable financing, and other receivables are determined using simplified or general measurement methods[244](index=244&type=chunk)[248](index=248&type=chunk)[252](index=252&type=chunk)[254](index=254&type=chunk) - Inventory is measured at the lower of cost and net realizable value, and issued inventory is accounted for using the weighted average method at month-end[258](index=258&type=chunk)[260](index=260&type=chunk) - Long-term equity investments are accounted for using the cost method or equity method based on control, joint control, or significant influence over the investee[264](index=264&type=chunk)[269](index=269&type=chunk) - Fixed assets begin to be depreciated when they reach their intended usable state, using the straight-line method[277](index=277&type=chunk) - Borrowing costs directly attributable to the acquisition, construction, or production of qualifying assets are capitalized[280](index=280&type=chunk) - Intangible assets are initially measured at cost, and intangible assets with finite useful lives are amortized using the straight-line method[283](index=283&type=chunk)[284](index=284&type=chunk) - Internal research and development expenditures are distinguished between research phase expenditures and development phase expenditures; research phase expenditures are recognized in current profit or loss, while development phase expenditures are recognized as intangible assets when conditions are met[286](index=286&type=chunk)[287](index=287&type=chunk) - Long-term assets are tested for impairment if there are indications of impairment at the balance sheet date[289](index=289&type=chunk) - Contract liabilities refer to the company's obligation to transfer goods to customers for consideration received or receivable from customers[293](index=293&type=chunk) - Employee compensation includes short-term compensation, post-employment benefits, termination benefits, and other long-term employee benefits[295](index=295&type=chunk) - Share-based payment includes equity-settled share-based payment and cash-settled share-based payment[300](index=300&type=chunk)[301](index=301&type=chunk) - Revenue recognition is based on the transfer of control, recognizing revenue when performance obligations are satisfied over time or at a point in time[304](index=304&type=chunk)[305](index=305&type=chunk) - Government grants are classified as asset-related or income-related and are accounted for using the gross method[312](index=312&type=chunk)[314](index=314&type=chunk) - Deferred income tax assets and liabilities are recognized based on temporary differences between the carrying amounts of assets and liabilities and their tax bases[317](index=317&type=chunk) - Leases are classified as finance leases and operating leases; as a lessee, right-of-use assets and lease liabilities are recognized for leases other than short-term leases and leases of low-value assets[322](index=322&type=chunk)[323](index=323&type=chunk)[326](index=326&type=chunk) [Taxation](index=126&type=section&id=8.6%20Taxation) The company's main taxes include VAT, urban maintenance and construction tax, education surcharges, and corporate income tax, with various preferential tax policies applied Main Tax Categories and Rates | Tax Category | Tax Rate | | :--- | :--- | | Value-Added Tax (VAT) | 6%, 13% (Export tax refund rate 13%) | | Urban Maintenance and Construction Tax | 7%, 5% | | Education Surcharge | 3% | | Local Education Surcharge | 2% | | Corporate Income Tax | 25%, 20%, 15%, 10% | Corporate Income Tax Rates by Taxable Entity | Taxable Entity Name | Corporate Income Tax Rate (%) | | :--- | :--- | | Triductor (Suzhou) Communication Technology Co., Ltd. | 10 | | Chongqing Triductor Technology Co., Ltd. | 15 | | Nanjing Zhitonglian Network Technology Co., Ltd. and 7 other subsidiaries | 20 | | Other taxable entities not

证券代码：688259 证券简称：创耀科技 公告编号：2025-024 创耀（苏州）通信科技股份有限公司 第二届监事会第十三次会议决议公告 本公司监事会及全体监事保证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。 一、 监事会会议召开情况 创耀（苏州）通信科技股份有限公司(以下简称"公司")于 2025 年 8 月 15 日，向全体监事发出了关于召开公司第二届监事会第十三次会议的通知。本次会 议于 2025 年 8 月 27 日以通讯方式召开，会议应参加监事 3 人，实际参加监事 3 人。会议由监事会主席曹宏锋主持，本次会议召开符合《中华人民共和国公司法》、 《上海证券交易所科创板股票上市规则》等有关法律法规和《公司章程》的规定， 会议召开合法、有效。 二、 监事会会议审议情况 经与会监事认真审议，本次会议审议并通过了以下议案： （1）审议通过《关于 2025 年半年度报告及摘要的议案》 具体内容详见公司同日披露于上海证券交易所网站的《创耀（苏州）通信科 技股份有限公司 2025 年半年度报告》《创耀（苏州）通信科技股份有限公司 2025 年半年度报 ...