证券代码：688308 证券简称：欧科亿 公告编号：2025-038 株洲欧科亿数控精密刀具股份有限公司 关于召开 2025 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 11 日 （星期四） 14:00-15:00 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 投资者可于 2025 年 09 月 04 日（星期四）至 09 月 10 日（星期三）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 oke_inf o@oke-carbide.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。 株洲欧科亿数控精密刀具股份有限公司（以下简称"公司"）已于 2025 年 8 月 29 日发布公司《2025 年半年度报告》，为便于广大投资者更全面深入地了解 公司 2025 年半年度经营成果、财务状况，公司计划于 ...

证券代码：688308 证券简称：欧科亿 公告编号：2025-037 株洲欧科亿数控精密刀具股份有限公司 关于 2025 年半年度计提资产减值准备的公告 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。 株洲欧科亿数控精密刀具股份有限公司（以下简称"公司"）于 2025 年 8 月 28 日召开第三届董事会第十七次会议，审议通过了《关于 2025 年半年度计提资产减值 准备的议案》。本次计提资产减值准备事项在公司董事会权限范围内，无需提交公 司股东会审议，现将有关情况公告如下： 一、本次计提资产减值准备情况概述 根据《企业会计准则》等相关规定的要求，为真实、准确地反映公司的资产状 况和财务状况，基于谨慎性原则，公司对截至 2025 年 6 月 30 日合并报表范围内的 各项资产进行全面清查和减值测试，对可能发生资产减值损失的有关资产计提相应 减值准备。 本次计提信用减值损失和资产减值损失的资产项目主要为应收票据、应收账款、 其他应收款、存货等，经测试及评估分析公司 2025 年半年度计提信用减值损失人民 币 7,579,99 ...

Core Viewpoint - 欧科亿 (688308.SH) reported a revenue of 603 million yuan for the first half of 2025, reflecting a year-on-year growth of 4.17%. However, the net profit attributable to shareholders significantly declined by 98.71% to 775,400 yuan [1]. Financial Performance - The company achieved an operating income of 603 million yuan, which is a 4.17% increase compared to the previous year [1]. - The net profit attributable to shareholders was 775,400 yuan, showing a drastic decrease of 98.71% year-on-year [1]. - The net profit after deducting non-recurring gains and losses was -19 million yuan, indicating a loss [1]. - The basic earnings per share stood at 0.00 yuan [1].

Section I Definitions [Definitions of Common Terms](index=4&type=section&id=Definitions%20of%20Common%20Terms) This chapter defines common terms, including company entities and specialized industry terminology, to facilitate accurate understanding of the report content - The company's full Chinese name is **Zhuzhou OKE CNC Precision Tool Co., Ltd.**, abbreviated as OKE[10](index=10&type=chunk) - Controlled subsidiaries include **Zhuzhou OKE Cutting Tool Co., Ltd.** (wholly-owned) and **Zhuzhou OKE New Energy Co., Ltd.** (controlled)[10](index=10&type=chunk) - The report provides detailed definitions of cemented carbide tool industry terms, such as **CNC tools**, **cemented carbide products**, and **PVD/CVD coating technologies**[10](index=10&type=chunk) Section II Company Profile and Key Financial Indicators [I. Company's Basic Information](index=6&type=section&id=I.%20Company's%20Basic%20Information) This section introduces the company's basic information, including its Chinese name, abbreviation, English name, legal representative, registered address, and website - The company's full Chinese name is **Zhuzhou OKE CNC Precision Tool Co., Ltd.**, abbreviated as OKE[13](index=13&type=chunk) - The legal representative is **Yuan Meihe**, and the company's registered address is in the Small and Medium-sized Enterprise Incubation Park, Yanling County, Zhuzhou City, Hunan Province[13](index=13&type=chunk) [II. Contact Persons and Information](index=6&type=section&id=II.%20Contact%20Persons%20and%20Information) This section provides contact details for the company's Board Secretary (domestic information disclosure representative) and Securities Affairs Representative - The Board Secretary is **Han Hongtao**, and the Securities Affairs Representative is **Xu Ying**, both with contact number **0731-22673899**[14](index=14&type=chunk) [III. Information Disclosure and Document Custody Location Changes](index=6&type=section&id=III.%20Information%20Disclosure%20and%20Document%20Custody%20Location%20Changes) This section outlines the company's designated information disclosure newspapers, website for semi-annual reports, and document custody location, confirming no changes during the reporting period - The company's designated information disclosure newspapers are **Shanghai Securities News**, **Securities Times**, **China Securities Journal**, and **Securities Daily**[15](index=15&type=chunk) - The semi-annual report is published on the company's official website **http://www.oke-carbide.com** and kept at the company's Securities Legal Department[15](index=15&type=chunk) [IV. Overview of Company Shares/Depositary Receipts](index=6&type=section&id=IV.%20Overview%20of%20Company%20Shares%2FDepositary%20Receipts) This section briefly introduces the company's stock information, including its type, listing exchange, and code, confirming the absence of depositary receipts [(I) Overview of Company Shares](index=6&type=section&id=(I)%20Overview%20of%20Company%20Shares) [(II) Overview of Company Depositary Receipts](index=7&type=section&id=(II)%20Overview%20of%20Company%20Depositary%20Receipts) - The company's shares are **A-shares**, listed on the **STAR Market of the Shanghai Stock Exchange**, with stock abbreviation **OKE** and stock code **688308**[16](index=16&type=chunk) - The company has **no depositary receipts**[17](index=17&type=chunk) [VI. Key Accounting Data and Financial Indicators](index=7&type=section&id=VI.%20Key%20Accounting%20Data%20and%20Financial%20Indicators) This section discloses the company's key accounting data and financial indicators for the current reporting period, explaining the significant decline in net profit [(I) Key Accounting Data](index=7&type=section&id=(I)%20Key%20Accounting%20Data) [(II) Key Financial Indicators](index=7&type=section&id=(II)%20Key%20Financial%20Indicators) Key Accounting Data (January-June 2025 vs. January-June 2024) (CNY) | Key Accounting Data | Current Period (Jan-Jun) | Prior Year Period | Change (%) from Prior Year Period | | :--- | :--- | :--- | :--- | | Operating Revenue | 603,478,961.65 | 579,309,409.45 | 4.17 | | Total Profit | -8,549,206.38 | 67,027,477.23 | N/A | | Net Profit Attributable to Shareholders of Listed Company | 775,353.97 | 60,094,162.67 | -98.71 | | Net Profit Attributable to Shareholders of Listed Company After Deducting Non-Recurring Gains and Losses | -19,147,209.52 | 37,776,350.58 | N/A | | Net Cash Flow from Operating Activities | -129,929,205.91 | -106,549,390.38 | N/A | | **As of Current Period End vs. Prior Year End** | | | | | Net Assets Attributable to Shareholders of Listed Company | 2,550,848,275.72 | 2,548,169,494.65 | 0.11 | | Total Assets | 3,942,583,021.62 | 3,959,655,725.47 | -0.43 | Key Financial Indicators (January-June 2025 vs. January-June 2024) | Key Financial Indicators | Current Period (Jan-Jun) | Prior Year Period | Change (%) from Prior Year Period | | :--- | :--- | :--- | :--- | | Basic Earnings Per Share (CNY/share) | 0.00 | 0.38 | -98.70 | | Diluted Earnings Per Share (CNY/share) | 0.00 | 0.38 | -98.70 | | Basic Earnings Per Share After Deducting Non-Recurring Gains and Losses (CNY/share) | -0.12 | 0.24 | N/A | | Weighted Average Return on Net Assets (%) | 0.03 | 2.32 | decreased by 2.29 percentage points | | Weighted Average Return on Net Assets After Deducting Non-Recurring Gains and Losses (%) | -0.75 | 1.46 | decreased by 2.21 percentage points | | R&D Investment as Percentage of Operating Revenue (%) | 6.37 | 6.86 | decreased by 0.49 percentage points | - Net profit attributable to shareholders of the listed company decreased by **98.71%** year-on-year, primarily due to low capacity utilization of the CNC tool industrial park project, increased fixed asset depreciation, significantly higher material costs leading to a decline in gross profit margin, and an increase in period expense ratio[18](index=18&type=chunk) [VIII. Non-Recurring Gains and Losses Items and Amounts](index=7&type=section&id=VIII.%20Non-Recurring%20Gains%20and%20Losses%20Items%20and%20Amounts) This section details the company's non-recurring gains and losses items and their amounts for the reporting period, totaling **CNY 19,922,563.49**, with government subsidies as the main contributor Non-Recurring Gains and Losses Items and Amounts (CNY) | Non-Recurring Gains and Losses Item | Amount | | :--- | :--- | | Gains and Losses from Disposal of Non-Current Assets | -391,854.65 | | Government Subsidies Included in Current Period Profit and Loss | 20,542,268.31 | | Gains and Losses from Fair Value Changes and Disposal of Financial Assets | 3,345,575.64 | | Other Non-Operating Income and Expenses | -43,083.36 | | Less: Income Tax Impact | 3,530,058.43 | | Impact on Minority Shareholders' Equity (After Tax) | 284.02 | | Total | 19,922,563.49 | Section III Management Discussion and Analysis [I. Industry and Main Business Overview During the Reporting Period](index=9&type=section&id=I.%20Industry%20and%20Main%20Business%20Overview%20During%20the%20Reporting%20Period) This section details the company's main business, products, operating model, and industry characteristics, highlighting its focus on CNC tools and cemented carbide products [(I) Main Business, Products, or Services](index=9&type=section&id=(I)%20Main%20Business,%20Products,%20or%20Services) [(II) Main Operating Model](index=10&type=section&id=(II)%20Main%20Operating%20Model) [(III) Industry Situation](index=11&type=section&id=(III)%20Industry%20Situation) - The company's main business involves the R&D, production, and sales of **CNC tool products** and **cemented carbide products**, operating as a high-tech enterprise[24](index=24&type=chunk) - CNC tool products, including **CNC inserts** and **solid carbide tools**, are widely used in general machinery, automotive, mold, and aerospace industries[25](index=25&type=chunk) - Cemented carbide products primarily consist of **saw blades**, **rods**, and **round blanks**, with saw blades recognized as a national manufacturing single champion product[25](index=25&type=chunk) - The company adopts a **'production-based procurement'** model and a **'sales-driven production with moderate inventory'** model, with sales primarily through direct channels supplemented by distribution[29](index=29&type=chunk)[30](index=30&type=chunk)[32](index=32&type=chunk) - Cemented carbide tools dominate the global tool market, accounting for **over 60%**, with domestic output value gradually increasing to approximately **53%**[33](index=33&type=chunk)[34](index=34&type=chunk) - Significant potential exists for increasing the **CNC penetration rate** in domestic machine tools, driving continuous growth in demand for CNC tools[34](index=34&type=chunk) - The import substitution of domestic CNC tools is accelerating, with tool customs import value decreasing by **2.66%** year-on-year in 2024[34](index=34&type=chunk) - The company holds the **largest production scale for saw blade products** in China, with its CNC insert products achieving advanced industry performance and multiple **'Golden Edge Award'** and **'Ringier Technology Innovation Award'** recognitions[35](index=35&type=chunk) - Future industry trends include adjustments in tool consumption structure, enhanced CNC tool processing efficiency, accelerated import substitution, increased market concentration, and continuous improvement in domestic tool enterprises' comprehensive service capabilities[36](index=36&type=chunk)[37](index=37&type=chunk)[38](index=38&type=chunk) [II. Discussion and Analysis of Operations](index=12&type=section&id=II.%20Discussion%20and%20Analysis%20of%20Operations) During the reporting period, the company pursued a "market-driven, technology-first" strategy, achieving stable operating revenue growth but a significant decline in net profit attributable to the parent company 2025 Semi-Annual Operating Performance (CNY 10,000s) | Indicator | Amount (CNY 10,000s) | Year-on-Year Change (%) | | :--- | :--- | :--- | | Operating Revenue | 60,347.90 | 4.17 | | Net Profit Attributable to Shareholders of Listed Company | 77.54 | -98.71 | | Operating Revenue from CNC Tool Products | 30,611.39 | -4.69 | | Operating Revenue from Cemented Carbide Products | 28,307.01 | 11.25 | - The company focuses on high-end tool import substitution, launching high-performance milling inserts (e.g., **R6 blade processing milling inserts**) and developing **RHD-G/RHD-Mn series crown drills** and **OMT/OMS series milling cutters for titanium/superalloys**[39](index=39&type=chunk) - In superhard tools, the company developed **H25/H15 series PCBN inserts**, optimized **PCD irregular edge laser processing technology**, and enhanced tool performance for **new energy battery aluminum shell processing**[39](index=39&type=chunk) - Strengthened direct sales team, opened nearly **30 domestic and international operation centers**, and promoted comprehensive tool solutions for fuel vehicles, new energy vehicles, aerospace, rail transit, energy, and military industries[41](index=41&type=chunk) - Added **over 2,700 new types of solid carbide tools and CNC tool bodies** and **over 1,500 new types of CNC inserts**[41](index=41&type=chunk) - Filed **82 new patent applications**, obtained **15 new authorized patents** (including **3 invention patents**), accumulating **202 authorized domestic patents**[41](index=41&type=chunk) - Overcame challenges in coating grain growth and size control, launched high-performance coating processes specifically for **steel and cast iron turning**, and developed multiple customized coatings[41](index=41&type=chunk) - Improved corporate governance, advanced lean production and digital transformation, optimized **ERP-MES system integration**, and enhanced operational efficiency[42](index=42&type=chunk) [III. Analysis of Core Competencies During the Reporting Period](index=13&type=section&id=III.%20Analysis%20of%20Core%20Competencies%20During%20the%20Reporting%20Period) This section analyzes the company's core competencies, including technological R&D advantages, product performance stability, extensive product series, integrated tool technology, and brand influence [(I) Core Competency Analysis](index=13&type=section&id=(I)%20Core%20Competency%20Analysis) [(III) Core Technologies and R&D Progress](index=15&type=section&id=(III)%20Core%20Technologies%20and%20R%26D%20Progress) - The company possesses comprehensive core technologies and a well-structured talent pool, having established a multidisciplinary technical team and independently developed a process technology system spanning **cemented carbide manufacturing**, **tool manufacturing**, and **integrated applications**[43](index=43&type=chunk) - The company's enterprise technology center was recognized as a **'Hunan Provincial Enterprise Technology Center'**, approved to establish a **National Postdoctoral Research Workstation**, and actively engages in industry-university-research cooperation with universities[45](index=45&type=chunk) - The company boasts comprehensive R&D facilities and advanced testing instruments, ensuring continuous and efficient R&D activities[45](index=45&type=chunk) - The company has established a quality control system covering the entire product lifecycle, from design to after-sales service, ensuring **stable product performance** and **consistent precision**[46](index=46&type=chunk) - The company offers a comprehensive range of **turning, milling, and drilling CNC inserts**, along with **dozens of grades and thousands of specifications of saw blade products**, meeting diverse customer needs[47](index=47&type=chunk) - The company has mastered the entire process technology system for **cemented carbide manufacturing**, **tool manufacturing**, and **integrated applications**, enabling it to provide customized cutting processing solutions to clients[48](index=48&type=chunk) - The company's **'OKE' brand** has twice received the **'User Satisfied Brand'** award and established strategic partnerships with renowned domestic and international customers, continuously enhancing its brand influence[48](index=48&type=chunk)[49](index=49&type=chunk) - The company core technologies are categorized into four segments: **substrate material design and preparation**, **insert structure design**, **insert precision and consistency control**, and **coating design and preparation**[50](index=50&type=chunk) - During the reporting period, the company obtained **15 new authorized domestic patents** and filed **82 new patent applications**, accumulating **202 authorized domestic patents** (including **32 invention patents**)[53](index=53&type=chunk)[54](index=54&type=chunk) R&D Investment (CNY) | Indicator | Current Period Amount | Prior Year Period Amount | Change (%) | | :--- | :--- | :--- | :--- | | Expensed R&D Investment | 38,453,454.13 | 39,733,439.38 | -3.22 | | Total R&D Investment | 38,453,454.13 | 39,733,439.38 | -3.22 | | Total R&D Investment as Percentage of Operating Revenue (%) | 6.37 | 6.86 | decreased by 0.49 percentage points | - The company's ongoing R&D projects include **CVD steel turning groove development**, **second-generation stainless steel turning groove research**, **independent series grooving tool development**, and **high-hard steel milling product development**, encompassing **37 projects** with an estimated total investment of **CNY 65.7 million**[59](index=59&type=chunk)[60](index=60&type=chunk)[61](index=61&type=chunk)[63](index=63&type=chunk) R&D Personnel (persons) | Indicator | Current Period Amount | Prior Year Period Amount | | :--- | :--- | :--- | | Number of Company R&D Personnel | 254 | 244 | | R&D Personnel as Percentage of Total Company Staff (%) | 18.1 | 19.15 | | Total R&D Personnel Compensation (CNY 10,000s) | 1,507.17 | 1,458.57 | | Average R&D Personnel Compensation (CNY 10,000s) | 5.93 | 5.98 | [IV. Risk Factors](index=22&type=section&id=IV.%20Risk%20Factors) This section details the company's main risks, including intensified market competition, management risks from rapid expansion, R&D personnel turnover, and raw material price fluctuations - The company faces intense competition from domestic and international enterprises in the **CNC tool manufacturing sector**, with high-end markets still dominated by imported brands[66](index=66&type=chunk) - Company expansion may lead to **reduced management efficiency** and **increased management expenses**, posing risks of insufficient management capabilities[67](index=67&type=chunk) - The loss of core technical personnel and R&D talent could result in **technology leakage**, adversely affecting the company's production and operations[68](index=68&type=chunk) - The company's products are primarily used in general machinery, automotive, and mold industries, making them highly susceptible to **changes in industry policies and demand**[69](index=69&type=chunk) - Prices of key raw materials, **tungsten carbide** and **cobalt powder**, are highly volatile, potentially impacting the company's operating performance[70](index=70&type=chunk) - Factors such as market competition, production and sales scale, new product releases, product structure, and raw material price fluctuations may cause **volatility in the company's gross profit margin** from its main business[70](index=70&type=chunk) - The rapid growth in accounts receivable may **increase the company's working capital pressure** and pose risks of non-payment at maturity[70](index=70&type=chunk) - Low capacity utilization of the CNC tool industrial park project, rising costs, increased expenses, and higher credit impairment provisions have led to a decline in profit levels, posing risks of **further performance decline or losses**[71](index=71&type=chunk) [V. Key Operating Performance During the Reporting Period](index=23&type=section&id=V.%20Key%20Operating%20Performance%20During%20the%20Reporting%20Period) This section analyzes the company's key operating performance, including financial statement item changes, asset and liability status, investment, and subsidiary operations [(I) Main Business Analysis](index=23&type=section&id=(I)%20Main%20Business%20Analysis) [(III) Analysis of Assets and Liabilities](index=25&type=section&id=(III)%20Analysis%20of%20Assets%20and%20Liabilities) [(IV) Analysis of Investment Status](index=27&type=section&id=(IV)%20Analysis%20of%20Investment%20Status) [(VI) Analysis of Major Controlled and Invested Companies](index=28&type=section&id=(VI)%20Analysis%20of%20Major%20Controlled%20and%20Invested%20Companies) Analysis of Changes in Financial Statement Items (CNY) | Item | Current Period Amount | Prior Year Period Amount | Change (%) | | :--- | :--- | :--- | :--- | | Operating Revenue | 603,478,961.65 | 579,309,409.45 | 4.17 | | Operating Cost | 510,639,555.35 | 427,854,118.21 | 19.35 | | Selling Expenses | 24,884,213.73 | 19,731,393.52 | 26.11 | | Administrative Expenses | 29,888,703.52 | 20,480,348.19 | 45.94 | | Financial Expenses | 7,163,113.57 | 7,655,259.00 | -6.43 | | R&D Expenses | 38,453,454.13 | 39,733,439.38 | -3.22 | | Net Cash Flow from Operating Activities | -129,929,205.91 | -106,549,390.38 | N/A | | Net Cash Flow from Investing Activities | 57,123,162.83 | -83,250,987.82 | N/A | | Net Cash Flow from Financing Activities | 241,087,030.40 | -97,170,681.05 | N/A | - Operating revenue growth was primarily driven by an increase in **cemented carbide product revenue**; operating cost growth was mainly due to **higher raw material costs** and **increased fixed asset depreciation**[74](index=74&type=chunk)[76](index=76&type=chunk) - Selling expenses increased primarily due to **higher employee compensation for sales personnel**; administrative expenses increased mainly due to **higher consulting service fees**[76](index=76&type=chunk) - Net cash flow from operating activities decreased primarily due to **reduced input tax refunds**; net cash flow from investing activities increased mainly due to **lower cash payments for investments**[76](index=76&type=chunk) - Net cash flow from financing activities increased primarily due to **new working capital loans**[76](index=76&type=chunk) Changes in Assets and Liabilities (CNY) | Item Name | Current Period End Balance | Percentage of Total Assets at Current Period End (%) | Prior Year End Balance | Percentage of Total Assets at Prior Year End (%) | Change (%) from Prior Year End Balance | Explanation | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Cash and Bank Balances | 415,410,795.94 | 10.54 | 300,014,865.67 | 7.58 | 38.46 | Matured wealth management products recovered | | Financial Assets Held for Trading | 180,891,122.12 | 4.59 | 371,776,120.34 | 9.39 | -51.34 | Decrease in purchased wealth management products | | Notes Receivable | 146,430,824.32 | 3.71 | 228,229,114.50 | 5.76 | -35.84 | Some notes receivable matured and derecognized | | Other Receivables | 1,703,130.52 | 0.04 | 3,564,091.99 | 0.09 | -52.21 | Deposits recovered | | Construction in Progress | 50,379,995.10 | 1.28 | 151,414,141.80 | 3.82 | -66.73 | Some machinery and equipment transferred to fixed assets | | Deferred Income Tax Assets | 34,949,273.14 | 0.89 | 23,531,412.86 | 0.59 | 48.52 | Increase in impairment provisions and deductible losses | | Short-Term Borrowings | 752,460,011.49 | 19.09 | 466,282,094.45 | 11.78 | 61.37 | Increase in working capital loans | | Notes Payable | 61,440,639.10 | 1.56 | 324,762,418.05 | 8.20 | -81.08 | Some notes payable matured and settled | | Contract Liabilities | 7,659,401.06 | 0.19 | 14,458,671.88 | 0.37 | -47.03 | Decrease in advance receipts for goods | | Employee Benefits Payable | 10,876,334.69 | 0.28 | 35,866,432.87 | 0.91 | -69.68 | Year-end bonuses accrued at prior year-end disbursed | | Taxes Payable | 669,206.63 | 0.02 | 5,968,909.93 | 0.15 | -88.79 | Decrease in corporate income tax payable | | Other Payables | 4,985,747.30 | 0.13 | 7,713,290.95 | 0.19 | -35.36 | Expenses accrued at prior year-end reimbursed | | Non-Current Liabilities Due Within One Year | 32,912,380.75 | 0.83 | 62,432,823.71 | 1.58 | -47.28 | Partial repayment of long-term borrowings | - Restricted cash and bank balances totaled **CNY 58,978,129.11** at period-end, mainly comprising bank acceptance bill deposits, domestic letter of credit deposits, and structured deposit guarantees[79](index=79&type=chunk) - During the reporting period, the company established a new controlled subsidiary, **OKE (Shandong) New Energy Technology Co., Ltd.**, with a registered capital of **CNY 30 million** and a **60%** equity stake, which has completed establishment and industrial and commercial registration[82](index=82&type=chunk) Financial Information of Major Controlled and Invested Companies (CNY 10,000s) | Company Name | Company Type | Main Business | Registered Capital | Total Assets | Net Assets | Operating Revenue | Operating Profit | Net Profit | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Zhuzhou OKE Cutting Tool Co., Ltd. | Subsidiary | R&D, processing, and sales of cemented carbide inserts, CNC inserts, etc. | 70,000 | 167,589.05 | 66,725.65 | 17,261.20 | -3,294.11 | -2,546.44 | | Zhuzhou OKE Intelligent Technology Co., Ltd. | Subsidiary | Engineering and technical research and experimental development; technical services, etc. | 5,000 | 4,165.74 | -149.24 | 1,245.81 | 166.62 | 124.90 | | Zhuzhou OKE New Energy Co., Ltd. | Subsidiary | Manufacturing and sales of metal wire ropes and their products; new material technology R&D, etc. | 5,000 | 18,760.43 | 208.43 | 1,302.73 | -974.04 | -578.40 | Section IV Corporate Governance, Environment, and Society [I. Changes in Directors, Supervisors, Senior Management, and Core Technical Personnel](index=30&type=section&id=I.%20Changes%20in%20Directors,%20Supervisors,%20Senior%20Management,%20and%20Core%20Technical%20Personnel) During the reporting period, there were no changes in the company's directors, supervisors, senior management, or core technical personnel - During the reporting period, there were **no changes** in the company's directors, supervisors, senior management, or core technical personnel[88](index=88&type=chunk) [II. Profit Distribution or Capital Reserve Conversion Plan](index=30&type=section&id=II.%20Profit%20Distribution%20or%20Capital%20Reserve%20Conversion%20Plan) The company's board of directors resolved that there is no profit distribution or capital reserve conversion plan for the current reporting period - The company has **no profit distribution plan or capital reserve conversion plan** for the current reporting period[88](index=88&type=chunk) [III. Status and Impact of Equity Incentive Plans, Employee Stock Ownership Plans, or Other Employee Incentive Measures](index=30&type=section&id=III.%20Status%20and%20Impact%20of%20Equity%20Incentive%20Plans,%20Employee%20Stock%20Ownership%20Plans,%20or%20Other%20Employee%20Incentive%20Measures) This section discloses that the third vesting period of the company's 2022 restricted stock incentive plan was canceled due to unmet performance targets [(I) Equity Incentive Matters Disclosed in Interim Announcements with No Subsequent Progress or Changes](index=30&type=section&id=(I)%20Equity%20Incentive%20Matters%20Disclosed%20in%20Interim%20Announcements%20with%20No%20Subsequent%20Progress%20or%20Changes) - The third vesting period of the company's **2022 restricted stock incentive plan** did not meet the company-level performance assessment requirements, resulting in the **cancellation and invalidation of all granted but unvested restricted shares**[89](index=89&type=chunk) [V. Specifics of Consolidating Poverty Alleviation Achievements and Rural Revitalization Efforts](index=31&type=section&id=V.%20Specifics%20of%20Consolidating%20Poverty%20Alleviation%20Achievements%20and%20Rural%20Revitalization%20Efforts) The company actively supports national poverty alleviation and rural revitalization by locating its headquarters in a former poverty-stricken county, contributing significantly through tax payments and job creation - The company's headquarters is located in Yanling County, a former national poverty-stricken county, contributing nearly **CNY 100 million** in annual taxes[91](index=91&type=chunk) - The company provides **over 400 employment opportunities** in Yanling County, including **over 10 positions for people with disabilities**, actively supporting local poverty alleviation and rural revitalization[91](index=91&type=chunk) Section V Significant Matters [I. Fulfillment of Commitments](index=32&type=section&id=I.%20Fulfillment%20of%20Commitments) This section details the fulfillment of various commitments made by the company, its controlling shareholders, and other related parties during the reporting period, all of which were strictly adhered to [(I) Commitments by the Company's Actual Controllers, Shareholders, Related Parties, Acquirers, and the Company During or Continuing into the Reporting Period](index=32&type=section&id=(I)%20Commitments%20by%20the%20Company's%20Actual%20Controllers,%20Shareholders,%20Related%20Parties,%20Acquirers,%20and%20the%20Company%20During%20or%20Continuing%20into%20the%20Reporting%20Period) - Controlling shareholders and actual controllers, **Yuan Meihe** and **Tan Wenqing**, committed to resolving horizontal competition and related party transactions, and have strictly fulfilled these commitments[93](index=93&type=chunk)[94](index=94&type=chunk) - The company committed to adhering to its **profit distribution policy** and has strictly fulfilled this commitment[94](index=94&type=chunk) - The company, its controlling shareholders and actual controllers, directors, supervisors, senior management, and other shareholders have all strictly fulfilled commitments regarding **share repurchase for fraudulent issuance**, **diluted immediate return compensation**, **share repurchase**, and **legal liability for compensation** during the reporting period[94](index=94&type=chunk)[95](index=95&type=chunk)[96](index=96&type=chunk)[97](index=97&type=chunk)[98](index=98&type=chunk)[99](index=99&type=chunk) [II. Non-Operating Fund Occupation by Controlling Shareholders and Other Related Parties During the Reporting Period](index=38&type=section&id=II.%20Non-Operating%20Fund%20Occupation%20by%20Controlling%20Shareholders%20and%20Other%20Related%20Parties%20During%20the%20Reporting%20Period) During the reporting period, there was no non-operating occupation of funds by controlling shareholders or other related parties - During the reporting period, the company had **no non-operating fund occupation** by controlling shareholders or other related parties[100](index=100&type=chunk) [III. Irregular Guarantees](index=38&type=section&id=III.%20Irregular%20Guarantees) During the reporting period, the company did not provide any external guarantees in violation of prescribed decision-making procedures - During the reporting period, the company had **no external guarantees provided in violation of prescribed decision-making procedures**[100](index=100&type=chunk) [IV. Semi-Annual Report Audit Status](index=39&type=section&id=IV.%20Semi-Annual%20Report%20Audit%20Status) This semi-annual report has not been audited - This semi-annual report is **unaudited**[4](index=4&type=chunk) [VII. Major Litigation and Arbitration Matters](index=39&type=section&id=VII.%20Major%20Litigation%20and%20Arbitration%20Matters) The company had no major litigation or arbitration matters during the current reporting period - The company had **no major litigation or arbitration matters** during the current reporting period[101](index=101&type=chunk) [IX. Explanation of the Integrity Status of the Company, its Controlling Shareholders, and Actual Controllers During the Reporting Period](index=39&type=section&id=IX.%20Explanation%20of%20the%20Integrity%20Status%20of%20the%20Company,%20its%20Controlling%20Shareholders,%20and%20Actual%20Controllers%20During%20the%20Reporting%20Period) During the reporting period, the company, its controlling shareholders, and actual controllers maintained good integrity, with no unfulfilled court judgments or significant overdue debts - During the reporting period, the company, its controlling shareholders, and actual controllers maintained **good integrity**, with **no unfulfilled court judgments** or **significant overdue debts**[101](index=101&type=chunk) [X. Significant Related Party Transactions](index=39&type=section&id=X.%20Significant%20Related%20Party%20Transactions) This section discloses significant related party transactions, including the purchase of tungsten carbide and cobalt powder from a Greenmei subsidiary and a joint investment in a new energy technology company [(I) Related Party Transactions Related to Daily Operations](index=39&type=section&id=(I)%20Related%20Party%20Transactions%20Related%20to%20Daily%20Operations) [(III) Significant Related Party Transactions for Joint External Investments](index=40&type=section&id=(III)%20Significant%20Related%20Party%20Transactions%20for%20Joint%20External%20Investments) - During the reporting period, the company purchased **tungsten carbide** and **cobalt powder** from Greenmei subsidiaries Hubei Green Tungsten Resource Recycling Co., Ltd. and Jingmen Greenmei New Materials Co., Ltd., totaling **CNY 29.3244 million** (excluding tax), accounting for **8.91%** of similar transactions[102](index=102&type=chunk) - The company's controlled subsidiary, OKE New Energy, jointly invested with a related party to establish **OKE (Shandong) New Energy Technology Co., Ltd.**, with a registered capital of **CNY 50 million**, and OKE New Energy holding **60%** equity[104](index=104&type=chunk) [XI. Major Contracts and Their Fulfillment](index=41&type=section&id=XI.%20Major%20Contracts%20and%20Their%20Fulfillment) This section discloses the company's significant guarantees for its subsidiaries, totaling **CNY 75.3933 million**, representing **2.96%** of the company's net assets [(II) Major Guarantees Performed and Not Yet Fulfilled During the Reporting Period](index=41&type=section&id=(II)%20Major%20Guarantees%20Performed%20and%20Not%20Yet%20Fulfilled%20During%20the%20Reporting%20Period) Company and Subsidiary Guarantees for Subsidiaries (CNY 10,000s) | Guarantor | Guaranteed Party | Guaranteed Amount | Guarantee Start Date | Guarantee End Date | Guarantee Type | Fulfilled | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Zhuzhou OKE CNC Precision Tool Co., Ltd. | Zhuzhou OKE Cutting Tool Co., Ltd. | 2,800 | 2024/11/27 | 2027/11/27 | Joint and Several Liability Guarantee | No | | Zhuzhou OKE CNC Precision Tool Co., Ltd. | Zhuzhou OKE New Energy Co., Ltd. | 1,360 | 2024/12/23 | 2025/12/22 | Joint and Several Liability Guarantee | No | | Zhuzhou OKE CNC Precision Tool Co., Ltd. | Zhuzhou OKE New Energy Co., Ltd. | 272 | 2024/12/31 | 2025/12/29 | Joint and Several Liability Guarantee | No | | Zhuzhou OKE CNC Precision Tool Co., Ltd. | Zhuzhou OKE New Energy Co., Ltd. | 5,000 | 2025/6/30 | 2028/6/30 | Joint and Several Liability Guarantee | No | Total Company Guarantees (Including Guarantees for Subsidiaries) (CNY 10,000s) | Indicator | Amount | | :--- | :--- | | Total Guarantees (A+B) | 7,539.33 | | Total Guarantees as Percentage of Company Net Assets (%) | 2.96 | | Debt Guarantees Provided Directly or Indirectly for Guaranteed Parties with Asset-Liability Ratio Exceeding 70% (D) | 6,069.47 | Section VI Share Changes and Shareholder Information [I. Share Capital Changes](index=43&type=section&id=I.%20Share%20Capital%20Changes) During the reporting period, there were no changes in the company's total ordinary share capital or share capital structure [1. Table of Share Changes](index=43&type=section&id=1.%20Table%20of%20Share%20Changes) [2. Explanation of Share Changes](index=43&type=section&id=2.%20Explanation%20of%20Share%20Changes) - During the reporting period, there were **no changes** in the company's total ordinary share capital or share capital structure[111](index=111&type=chunk) [II. Shareholder Information](index=43&type=section&id=II.%20Shareholder%20Information) As of the end of the reporting period, the company had **6,756 ordinary shareholders**, with Yuan Meihe, Greenmei Co., Ltd., and Tan Wenqing among the top three [(I) Total Number of Shareholders](index=43&type=section&id=(I)%20Total%20Number%20of%20Shareholders) [(II) Top Ten Shareholders and Top Ten Shareholders with Unlimited Conditions as of the End of the Reporting Period](index=43&type=section&id=(II)%20Top%20Ten%20Shareholders%20and%20Top%20Ten%20Shareholders%20with%20Unlimited%20Conditions%20as%20of%20the%20End%20of%20the%20Reporting%20Period) - As of the end of the reporting period, the company had a total of **6,756 ordinary shareholders**[112](index=112&type=chunk) Top Ten Shareholders as of the End of the Reporting Period (Excluding Shares Lent via Securities Refinancing) | Shareholder Name (Full Name) | Change During Reporting Period | Number of Shares Held at Period End | Percentage (%) | Number of Restricted Shares Held | Number of Restricted Shares Including Those Lent via Securities Refinancing | Pledge, Mark, or Freeze Status | Shareholder Nature | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Yuan Meihe | 1,886,076 | 27,170,076 | 17.11 | 0 | 0 | None | Domestic Natural Person | | Greenmei Co., Ltd. | 0 | 16,523,500 | 10.41 | 0 | 0 | None | Domestic Non-State-Owned Legal Person | | Tan Wenqing | 0 | 14,346,360 | 9.04 | 0 | 0 | None | Domestic Natural Person | | Yueqing Dehui Equity Investment Partnership (Limited Partnership) | 0 | 9,374,121 | 5.90 | 0 | 0 | None | Domestic Non-State-Owned Legal Person | | Genertec Venture Capital Co., Ltd. - Genertec High-End Equipment Industry Equity Investment (Tongxiang) Partnership (Limited Partnership) | 0 | 4,415,706 | 2.78 | 0 | 0 | None | Other | | Guangdong Yueke Zongheng Rongtong Venture Capital Partnership (Limited Partnership) | 0 | 3,059,224 | 1.93 | 0 | 0 | None | Other | | Ma Huaiyi | 0 | 2,463,632 | 1.55 | 0 | 0 | None | Domestic Natural Person | | Zhuzhou State-owned Assets Investment Holding Group Co., Ltd. | 0 | 1,301,000 | 0.82 | 0 | 0 | None | Other | | Jinjiang Heming Asset Management Co., Ltd. - Heming Value Discovery No. 2 Private Securities Investment Fund | -716,312 | 1,250,441 | 0.79 | 0 | 0 | None | Other | | Zhuzhou OKE CNC Precision Tool Co., Ltd. Repurchase Special Securities Account | 0 | 1,250,000 | 0.79 | 0 | 0 | None | RMB Ordinary Shares | - Yuan Meihe and Tan Wenqing are the company's actual controllers and **parties acting in concert**[115](index=115&type=chunk) [III. Directors, Supervisors, Senior Management, and Core Technical Personnel](index=45&type=section&id=III.%20Directors,%20Supervisors,%20Senior%20Management,%20and%20Core%20Technical%20Personnel) This section discloses changes in shareholdings of directors, supervisors, senior management, and core technical personnel, noting non-trade transfers and the cancellation of restricted stock vesting due to unmet performance conditions [(I) Shareholding Changes of Current and Resigned Directors, Supervisors, Senior Management, and Core Technical Personnel During the Reporting Period](index=45&type=section&id=(I)%20Shareholding%20Changes%20of%20Current%20and%20Resigned%20Directors,%20Supervisors,%20Senior%20Management,%20and%20Core%20Technical%20Personnel%20During%20the%20Reporting%20Period) [(II) Equity Incentives Granted to Directors, Supervisors, Senior Management, and Core Technical Personnel During the Reporting Period](index=46&type=section&id=(II)%20Equity%20Incentives%20Granted%20to%20Directors,%20Supervisors,%20Senior%20Management,%20and%20Core%20Technical%20Personnel%20During%20the%20Reporting%20Period) Shareholding Changes of Current and Resigned Directors, Supervisors, Senior Management, and Core Technical Personnel During the Reporting Period (shares) | Name | Position | Number of Shares Held at Beginning of Period | Number of Shares Held at End of Period | Change in Shares During Reporting Period | Reason for Change | | :--- | :--- | :--- | :--- | :--- | :--- | | Yuan Meihe | Director | 25,284,000 | 27,170,076 | 1,886,076 | Non-trade transfer | | Zhang Yi | Supervisor | 0 | 121,196 | 121,196 | Non-trade transfer | | Han Hongtao | Senior Management | 11,200 | 617,163 | 605,963 | Non-trade transfer | | Liang Baoyu | Senior Management | 11,200 | 283,883 | 272,683 | Non-trade transfer | | Li Shuqiang | Core Technical Personnel | 0 | 212,088 | 212,088 | Non-trade transfer | | Su Zhenhua | Core Technical Personnel | 6,200 | 289,636 | 283,436 | Share reduction, non-trade transfer | | Luo Lijun | Core Technical Personnel | 3,400 | 151,493 | 148,093 | Share reduction, non-trade transfer | | Liu Gang | Core Technical Personnel | 0 | 45,446 | 45,446 | Non-trade transfer | | Chen Xinzh | Core Technical Personnel | 1,300 | 23,746 | 22,446 | Share reduction, non-trade transfer | - On August 6, 2025, company director **Mu Menggang resigned**, all company supervisors resigned, **Gu Jianguo was elected as a director**, and **Su Zhenhua was elected as an employee director**; the board of supervisors has been abolished[118](index=118&type=chunk) - The third vesting period of the company's **2022 restricted stock incentive plan** did not meet the company-level vesting conditions, resulting in the **cancellation and invalidation of 34,440 restricted shares** granted but unvested to directors, senior management, and core technical personnel for that period[119](index=119&type=chunk) Section VII Bond-Related Information [I. Corporate Bonds (Including Enterprise Bonds) and Non-Financial Enterprise Debt Financing Instruments](index=47&type=section&id=I.%20Corporate%20Bonds%20(Including%20Enterprise%20Bonds)%20and%20Non-Financial%20Enterprise%20Debt%20Financing%20Instruments) 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**[122](index=122&type=chunk) [II. Convertible Corporate Bonds](index=47&type=section&id=II.%20Convertible%20Corporate%20Bonds) During the reporting period, the company had no convertible corporate bonds - During the reporting period, the company had **no convertible corporate bonds**[122](index=122&type=chunk) Section VIII Financial Report [I. Audit Report](index=48&type=section&id=I.%20Audit%20Report) This semi-annual report has not been audited - This semi-annual report is **unaudited**[4](index=4&type=chunk) [II. Financial Statements](index=48&type=section&id=II.%20Financial%20Statements) This section provides the company's 2025 semi-annual consolidated and parent company balance sheets, income statements, cash flow statements, and statements of changes in owners' equity [Consolidated Balance Sheet](index=48&type=section&id=Consolidated%20Balance%20Sheet) [Parent Company Balance Sheet](index=50&type=section&id=Parent%20Company%20Balance%20Sheet) [Consolidated Income Statement](index=52&type=section&id=Consolidated%20Income%20Statement) [Parent Company Income Statement](index=54&type=section&id=Parent%20Company%20Income%20Statement) [Consolidated Cash Flow Statement](index=56&type=section&id=Consolidated%20Cash%20Flow%20Statement) [Parent Company Cash Flow Statement](index=57&type=section&id=Parent%20Company%20Cash%20Flow%20Statement) [Consolidated Statement of Changes in Owners' Equity](index=59&type=section&id=Consolidated%20Statement%20of%20Changes%20in%20Owners'%20Equity) [Parent Company Statement of Changes in Owners' Equity](index=64&type=section&id=Parent%20Company%20Statement%20of%20Changes%20in%20Owners'%20Equity) - The consolidated balance sheet shows that as of June 30, 2025, the company's total assets were **CNY 3,942,583,021.62**, and total equity attributable to parent company owners was **CNY 2,550,848,275.72**[125](index=125&type=chunk)[126](index=126&type=chunk) - The consolidated income statement shows that for the first half of 2025, operating revenue was **CNY 603,478,961.65**, and net profit attributable to parent company shareholders was **CNY 775,353.97**[131](index=131&type=chunk)[133](index=133&type=chunk) - The consolidated cash flow statement shows that for the first half of 2025, net cash flow from operating activities was **-CNY 129,929,205.91**, net cash flow from investing activities was **CNY 57,123,162.83**, and net cash flow from financing activities was **CNY 241,087,030.40**[138](index=138&type=chunk)[139](index=139&type=chunk) [III. Company's Basic Information](index=68&type=section&id=III.%20Company's%20Basic%20Information) This section outlines the company's history, registered capital, address, legal representative, and main business, emphasizing its specialization in the cemented carbide tool industry - The company, formerly **Zhuzhou Jingcheng Industrial Co., Ltd.**, was established on January 23, 1996, and restructured into a joint-stock company in July 2017[154](index=154&type=chunk) - The company was listed on the **STAR Market of the Shanghai Stock Exchange** on December 10, 2020, with a registered capital of **CNY 158,781,708**[154](index=154&type=chunk) - The company's main business is the R&D, production, and sales of **cemented carbide products** and **CNC tool products**, operating within the cemented carbide tool industry[154](index=154&type=chunk) [IV. Basis of Financial Statement Preparation](index=68&type=section&id=IV.%20Basis%20of%20Financial%20Statement%20Preparation) This section states that the financial statements are prepared on a going concern basis, adhering to enterprise accounting standards and historical cost measurement, with no identified issues affecting going concern - The company's financial statements are prepared on a **going concern basis**, adhering to **Enterprise Accounting Standards** and relevant regulations of the China Securities Regulatory Commission[155](index=155&type=chunk) - Accounting is based on the **accrual method**, and except for certain financial instruments, all items are measured at **historical cost**[155](index=155&type=chunk) - The company assessed its ability to continue as a going concern for **12 months** from the end of the reporting period and found **no matters affecting its going concern ability**[156](index=156&type=chunk) [V. Significant Accounting Policies and Estimates](index=68&type=section&id=V.%20Significant%20Accounting%20Policies%20and%20Estimates) This section details the company's significant accounting policies and estimates for financial instruments, inventory, fixed assets, intangible assets, revenue recognition, government grants, deferred taxes, and leases [11. Financial Instruments](index=70&type=section&id=11.%20Financial%20Instruments) [16. Inventories](index=76&type=section&id=16.%20Inventories) [21. Fixed Assets](index=78&type=section&id=21.%20Fixed%20Assets) [22. Construction in Progress](index=79&type=section&id=22.%20Construction%20in%20Progress) [26. Intangible Assets](index=80&type=section&id=26.%20Intangible%20Assets) [34. Revenue](index=83&type=section&id=34.%20Revenue) [36. Government Grants](index=84&type=section&id=36.%20Government%20Grants) [37. Deferred Income Tax Assets/Liabilities](index=85&type=section&id=37.%20Deferred%20Income%20Tax%20Assets%2FLiabilities) [38. Leases](index=85&type=section&id=38.%20Leases) - The company classifies financial assets into three categories based on its business model for managing financial assets and contractual cash flow characteristics: **measured at amortized cost**, **measured at fair value through other comprehensive income**, and **measured at fair value through profit or loss**[171](index=171&type=chunk) - For notes receivable, accounts receivable, and contract assets, the company measures loss provisions at an amount equal to the **expected credit losses over the entire lifetime**, regardless of the presence of a significant financing component[186](index=186&type=chunk) - Inventories are categorized into raw materials, revolving materials, consigned processing materials, work-in-progress, finished goods, and goods in transit, valued using the **weighted average method** upon issuance, and managed under a **perpetual inventory system**[195](index=195&type=chunk)[193](index=193&type=chunk) - Fixed assets are depreciated using the **straight-line method** over their useful lives: buildings **20-30 years**, machinery and equipment **3-10 years**, transportation equipment **8 years**, and office equipment **3-5 years**[202](index=202&type=chunk) - Intangible assets, including land use rights, software, and patent rights, are amortized using the **straight-line method** over their finite useful lives: land use rights **50 years**, software **5 years**, and patent rights **10 years**[207](index=207&type=chunk) - The company recognizes revenue when the customer obtains control of the related goods or services; for domestic sales, this is upon **customer confirmation of the reconciliation statement**, and for export sales, upon **customs declaration, departure from port, and receipt of bill of lading**[223](index=223&type=chunk)[225](index=225&type=chunk) - Government grants are classified as **asset-related** or **income-related**; asset-related grants are recognized as deferred income and amortized into profit or loss over the asset's useful life, while income-related grants compensating for incurred costs are recognized in current profit or loss[232](index=232&type=chunk) - The company recognizes **right-of-use assets** and **lease liabilities** for all leases, except for short-term and low-value asset leases, and amortizes them using the **straight-line method** into the cost of related assets or current profit or loss[236](index=236&type=chunk)[237](index=237&type=chunk)[238](index=238&type=chunk) [VI. Taxation](index=87&type=section&id=VI.%20Taxation) This section lists the company's main tax categories and rates, and explains the high-tech enterprise income tax preferential policies enjoyed by the company and its subsidiaries Main Tax Categories and Rates | Tax Category | Tax Basis | Tax Rate | | :--- | :--- | :--- | | Value-Added Tax (VAT) | Calculated based on sales of goods and taxable services as stipulated by tax law, with output tax minus deductible input tax as VAT payable | 13%, 9%, 6% | | Urban Maintenance and Construction Tax | Based on actual turnover tax paid | 5%, 7% | | Corporate Income Tax | Based on taxable income | 15%, 25% | | Education Surcharge | Based on actual turnover tax paid | 3% | | Local Education Surcharge | Based on actual turnover tax paid | 2% | - The company and its subsidiary, **Zhuzhou OKE Cutting Tool Co., Ltd.**, are both recognized as high-tech enterprises, enjoying a **15% corporate income tax preferential rate**[248](index=248&type=chunk) [VII. Notes to Consolidated Financial Statement Items](index=88&type=section&id=VII.%20Notes%20to%20Consolidated%20Financial%20Statement%20Items) This section provides detailed notes for various consolidated financial statement items, explaining their period-end balances, changes, and relevant circumstances [1. Cash and Bank Balances](index=88&type=section&id=1.%20Cash%20and%20Bank%20Balances) Cash and Bank Balances (CNY) | Item | Period-End Balance | Period-Beginning Balance | | :--- | :--- | :--- | | Bank Deposits | 356,432,666.83 | 187,057,974.06 | | Other Cash and Bank Balances | 58,978,129.11 | 112,956,891.61 | | Total | 415,410,795.94 | 300,014,865.67 | - Restricted other cash and bank balances totaled **CNY 58,978,129.11** at period-end, mainly comprising bill deposits, domestic letter of credit deposits, and structured deposit guarantees[250](index=250&type=chunk) [2. Financial Assets Held for Trading](index=88&type=section&id=2.%20Financial%20Assets%20Held%20for%20Trading) Financial Assets Held for Trading (CNY) | Item | Period-End Balance | Period-Beginning Balance | | :--- | :--- | :--- | | Large-Denomination Certificates of Deposit | 160,718,984.61 | 289,467,539.31 | | Other Wealth Management Products | 20,172,137.51 | 82,308,581.03 | | Total | 180,891,122.12 | 371,776,120.34 | [4. Notes Receivable](index=89&type=section&id=4.%20Notes%20Receivable) Notes Receivable (CNY) | Item | Period-End Balance | Period-Beginning Balance | | :--- | :--- | :--- | | Bank Acceptance Bills | 131,585,285.44 | 217,399,364.65 | | Commercial Acceptance Bills | 14,845,538.88 | 10,829,749.85 | | Total | 146,430,824.32 | 228,229,114.50 | - Notes receivable endorsed or discounted and not yet due totaled **CNY 112,194,206.35** at period-end[256](index=256&type=chunk) [5. Accounts Receivable](index=92&type=section&id=5.%20Accounts%20Receivable) Accounts Receivable (CNY) | Aging | Period-End Book Balance | | :--- | :--- | | Within 1 year (inclusive) | 470,291,530.04 | | 1 to 2 years | 45,147,248.09 | | 2 to 3 years | 6,010,581.25 | | 3 to 4 years | 1,344,792.40 | | Total | 522,794,151.78 | - The period-end balance of accounts receivable impairment provision was **CNY 33,616,600.17**, including **CNY 2,754,990.97** for individually assessed provisions and **CNY 30,861,609.20** for collectively assessed provisions[263](index=263&type=chunk) [7. Financing for Receivables](index=96&type=section&id=7.%20Financing%20for%20Receivables) [8. Prepayments](index=98&type=section&id=8.%20Prepayments) [9. Other Receivables](index=98&type=section&id=9.%20Other%20Receivables) [10. Inventories](index=103&type=section&id=10.%20Inventories) Inventory Classification (CNY) | Item | Period-End Book Value | | :--- | :--- | | Raw Materials | 122,784,800.42 | | Work-in-Progress | 190,033,940.60 | | Finished Goods | 264,182,320.42 | | Revolving Materials | 9,641,144.64 | | Goods in Transit | 62,408,505.32 | | Consigned Processing Materials | 6,647,638.13 | | Total | 655,698,349.53 | - The period-end balance of inventory impairment provision was **CNY 23,820,093.49**, with **CNY 9,674,346.37** recognized in the current period[292](index=292&type=chunk) [13. Other Current Assets](index=105&type=section&id=13.%20Other%20Current

Investment Rating - The industry investment rating is "Overweight" [3] Core Viewpoints - The report emphasizes the significant growth potential in the humanoid robotics sector, with a projected cumulative global demand of approximately 2 million units by 2030, indicating a critical breakthrough phase from 0 to 1 [6][20] - The report highlights the acceleration of N-type penetration in photovoltaic equipment, strengthening the competitive edge of leading companies under the Matthew effect [21] - The energy storage sector is identified as essential for building a new type of power grid, with favorable policies enhancing industry prosperity [21] - The semiconductor equipment market is expected to reach $140 billion by 2030, with an increasing share from mainland China, although the domestic production rate remains low [21] - The automation market, particularly industrial consumables, is projected to grow from approximately 40 billion to 55.7 billion by 2026, benefiting from increased concentration and import substitution [22] - Hydrogen energy, particularly green hydrogen, aligns with carbon neutrality goals, supported by the rapid development of photovoltaic and wind energy [21] Summary by Sections Humanoid Robotics - Key companies recommended for investment include Huasheng Tiancai, Sanhui Electric, and Zhejiang Rongtai, among others [4] - The report discusses the recent humanoid robot sports event in Beijing, showcasing over 500 robots from 16 countries competing in various categories [15][20] - The introduction of the Genie Envisioner platform by Zhiyuan Robotics is noted as a significant advancement in the field, integrating video generation with robotic control [11][20] Photovoltaic Equipment - The report suggests focusing on leading companies like Maiwei and Jiejiacreating, which possess technological innovation and customer base advantages [21] - The overall price center of the photovoltaic industry chain is declining, with a focus on cost and efficiency improvements [21] Energy Storage - The report highlights the favorable policies for both generation-side and user-side energy storage, driving comprehensive development in the sector [21] - Companies like Xingyun and Kexin are identified as key players in the energy storage market [21] Semiconductor Equipment - The semiconductor equipment market is projected to double in the next decade, with a significant increase in demand for domestic production [22] - Companies such as Zhongwei and Beifang Huachuang are recommended for investment [22] Automation - The automation market is expected to grow significantly, with a focus on industrial consumables and the potential for leading companies to benefit from increased market concentration [22] Hydrogen Energy - The report emphasizes the importance of green hydrogen in achieving carbon neutrality, recommending companies like Longi Green Energy and Yihua Tong for investment [21]

Meeting Overview - The second extraordinary general meeting of shareholders was held on August 6, 2025, at the company's conference room in Zhuzhou [2] - All resolutions proposed during the meeting were approved without any rejections [2] Attendance and Voting - The meeting was chaired by Chairman Yuan Meihe, with a combination of on-site and online voting methods used [3] - All current directors and supervisors attended, with one director and one supervisor participating via communication means [4] Resolutions Passed - The following resolutions were approved: 1. Increase the estimated daily related transactions for 2025 [5] 2. Cancel the supervisory board, adjust the number of directors, and amend the Articles of Association [5] 3. Revise, formulate, and abolish certain corporate governance systems [5] 4. Elect a non-independent director [5] - Special resolutions required a two-thirds majority, while ordinary resolutions required a simple majority [6] Legal Verification - The meeting was witnessed by Hunan Qiyuan Law Firm, confirming that the procedures and voting results complied with relevant laws and regulations [7] Election of Employee Representative Director - The company held a staff representative meeting on August 6, 2025, where Su Zhenhua was elected as the employee representative director [9] - The election process adhered to the legal requirements, ensuring that the number of employee representatives does not exceed half of the total board members [10] Audit Committee Appointment - Su Zhenhua was also elected as a member of the audit committee, with the committee now consisting of three members [10]

Core Viewpoint - The company, Okoyi, announced the convening of its second extraordinary general meeting of shareholders for 2025 on August 6, 2025, to review and approve several proposals, including the increase of expected daily related party transactions for 2025 [2] Group 1 - The extraordinary general meeting was held on August 6, 2025 [2] - The meeting approved the proposal regarding the increase of expected daily related party transactions for 2025 [2]

证券日报网讯 8月6日晚间，欧科亿发布公告称，公司于2025年8月6日召开职工代表大会，经与会职工 代表民主选举，苏振华先生当选为公司第三届董事会职工代表董事，任期自公司本次职工代表大会审议 通过之日起至第三届董事会任期届满之日止。公司于2025年8月6日召开第三届董事会第十六次会议，审 议通过了《关于补选审计委员会委员的议案》，同意补选职工董事苏振华先生为审计委员会委员，任期 自本次董事会审议通过之日起至第三届董事会任期届满之日止。 （文章来源：证券日报） ...

有效。 特此公告。 | 证券代码：688308 证券简称：欧科亿 公告编号：2025-035 | | | | | | | | --- | --- | --- | --- | --- | --- | --- | | 株洲欧科亿数控精密刀具股份有限公司 | | | | | | | | 本公司董事会及全体董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。 | | | | | | | | 重要内容提示： | | | | | | | | ? 本次会议是否有被否决议案：无 | | | | | | | | 一、会议召开和出席情况 | | | | | | | | （一） 股东会召开的时间：2025 年 8 月 6 日 | | | | | | | | （二） 股东会召开的地点：株洲市天元区马家河街道金龙社区马家河路 | | | | 588 | 号 | | | 公司九楼会议室 | | | | | | | | （三） 出席会议的普通股股东、特别表决权股东、恢复表决权的优先股股东及 | | | | | | | | 其持有表决权数量的情况： ...

证券代码：688308 证券简称：欧科亿 公告编号：2025-036 株洲欧科亿数控精密刀具股份有限公司 关于公司选举职工代表董事及补选审计委员会委员的 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。 一、关于选举职工代表董事的情况 株洲欧科亿数控精密刀具股份有限公司（以下简称"公司"）分别于2025年7月 17日、2025年8月6日召开第三届董事会第十五次会议和2025年第二次临时股东会会 议，审议通过了《关于取消监事会、调整董事会人数以及修订<公司章程>的议案》， 修订后的《株洲欧科亿数控精密刀具股份有限公司章程》（以下简称"《公司章程》"） 已于2025年8月6日起生效。 根据《公司法》《公司章程》的相关规定，公司董事会由六名董事组成，其中 设一名职工代表董事，由公司职工通过职工代表大会、职工大会或者其他形式民主 选举产生，无需提交股东会审议。 公司于2025年8月6日召开职工代表大会，经与会职工代表民主选举，苏振华先 生当选为公司第三届董事会职工代表董事，任期自公司本次职工代表大会审议通过 之日起至第三届董事 ...