证券代码：688355 证券简称：明志科技 公告编号：2023-049 苏州明志科技股份有限公司 （一）实际募集资金金额和资金到账时间 根据中国证券监督管理委员会于 2021 年 3 月 30 日出具的《关于苏州明志 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〕894号）， 同意公司向社会公开发行人民币普通股（A 股）股票 3,077 万股，每股发行价格 为 17.65 元，本次募集资金总额为 543,090,500.00 元，扣除承销保荐费以及其 他发行费用共计 53,725,344.52 元（不含增值税）后，公司实际募集资金净额 为 489,365,155.48 元。公证天业会计师事务所（特殊普通合伙）对公司本次公 开发行新股的资金到位情况进行了审验，并出具了苏公 W[2021]B049 号验资报 告。 募集资金到账后，已全部存放于经公司董事会批准开设的募集资金专项账 户内，公司与保荐机构、存放募集资金的商业银行签署了《募集资金三方监管 协议》。 （二）募集资金使用和结余情况 截至 2023 年 6 月 30 日，公司本年度使用募集资金人民币 81,787,567.84 2023年半 ...

证券代码：688355 证券简称：明志科技 公告编号：2023-048 苏州明志科技股份有限公司 第二届监事会第八次会议决议公告 苏州明志科技股份有限公司（以下简称"公司"或"明志科技"）第二届监 事会第八次会议通知于 2023 年 8 月 7 日以邮件方式发出，于 2023 年 8 月 17 日 以现场结合通讯的方式召开。本次会议应参与表决监事 3 名，实际参与表决监事 3 名，会议由公司监事会主席邓金芳女士主持。本次会议的召集、召开程序符合 《中华人民共和国公司法》和《公司章程》等的有关规定。 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、监事会会议召开情况 监事会认为：公司编制的《2023 年半年度募集资金存放与使用情况的专项 报告》真实地反映了报告期内募集资金的存放和实际使用情况。同意公司编制的 《2023 年半年度募集资金存放与使用情况的专项报告》。 二、监事会会议审议情况 本次会议经充分审议，形成以下决议： （一）审议通过《关于公司<2023 年半年度报告>及其摘要的议案》 监事会认为：公司《2023 年 ...

证券代码：688355 证券简称：明志科技 公告编号：2023-050 苏州明志科技股份有限公司 关于开展外汇衍生品交易业务的公告 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。 苏州明志科技股份有限公司（以下简称"公司"）于 2023 年 8 月 17 日召开 第二届董事会第九次会议，第二届监事会第八次会议，审议通过了《关于开展 外汇衍生品交易业务的议案》，同意公司及全资子公司（以下称"子公司"） 拟使用自有资金开展总金额不超过美元 3,000 万元额度的外汇衍生品交易业务。 期限自董事会批准之日起 12 个月内有效，上述额度在审批期限内可循环滚动使 用，同时授权公司管理层具体实施相关事宜。本次事项在董事会审议权限内， 无需提交股东大会审议。本次事项不构成关联交易。具体情况如下： 一、开展外汇衍生品交易业务的原因和目的 公司及子公司存在出口业务，为有效规避外汇市场的风险，防范汇率大幅 波动对公司业绩造成不良影响，提高外汇资金使用效率，合理减少财务费用， 公司拟适当开展外汇衍生品交易业务。 四、外汇衍生品交易业务的风险分析 ...

苏州明志科技股份有限公司独立董事 关于第二届董事会第九次会议相关事项的独立意见 二、《关于开展外汇衍生品交易业务的议案》 公司为规避汇率风险所开展的外汇资金交易业务,是基于对未来外汇收支的合 理估计和目前外汇收支的实际需求。公司开展外汇衍生品交易业务能提高资金使用 效率及应对外汇波动风险的能力，更好地规避和防范公司所面临的外汇汇率波动风 险， 增强公司财务稳健性,不影响公司正常的生产经营。 公司已制定《外汇衍生品交易业务管理制度》,明确了相关各层级的审批程序, 可以有效控制相关风险。我们认为，公司开展的衍生品业务与日常经营需求紧密相 关,遵循了谨慎性原则，不存在损害公司和股东利益，尤其是中小股东利益的情形。 苏州明志科技股份有限公司〈以下简称为"公司"〉于 2023 年 8 月 17 日召 开了第二届董事会第九次会议,根据《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》《关于在上市公司建立独立董事制度的指导意见》、《上 市公司治理准则》等法律法规、规范性文件及《公司章程》的有关规定,我们作 为公司的独立董事,本着独立、审慎的态度,对公司第二届董事会第九次会议审 议的相关事项进行认真审核,并发表 ...

证券代码：688355 证券简称：明志科技 公告编号：2023-041 会前问题征集：投资者可于 2023 年 5 月 29 日(星期一)至 6 月 2 日(星期 五)16:00 前通过以下三种方式提前进行提问：①登录上证路演中心首页点击"提 问预征集"栏目；②访问价值在线平台网址（https://eseb.cn/14PH6YAcq0U） 或 使用微信 扫 描 下 方 小 程 序 码 进 行 会 前 提 问 ； ③ 通过公司邮箱 securities@mingzhi-tech.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。 苏州明志科技股份有限公司 关于召开 2022 年度暨 2023 年第一季度业绩暨 现金分红说明会的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连带责任。 重要内容提示： 苏州明志科技股份有限公司（以下简称"公司"）已于 2023 年 4 月 26 日发 布公司 2022 年年度报告以及 2023 年第一季度报告，为便于广大投资者更全面 深入地了解公司 2022 年度以及 2023 ...

Financial Performance - The company's operating revenue for Q1 2023 was ¥108,631,582.01, representing a decrease of 32.57% compared to the same period last year[5] - The net profit attributable to shareholders was ¥10,041,476.24, down 33.60% year-on-year[5] - The net profit attributable to shareholders after deducting non-recurring gains and losses decreased by 67.48% to ¥3,655,199.55[5] - The basic earnings per share were ¥0.08, down 33.33% compared to the previous year[5] - The diluted earnings per share were also ¥0.08, reflecting the same percentage decrease of 33.33%[6] - Total operating revenue for Q1 2023 was ¥108,631,582.01, a decrease of 32.5% compared to ¥161,097,365.18 in Q1 2022[19] - Net profit for Q1 2023 was ¥10,041,476.24, a decline of 33.5% from ¥15,123,300.20 in Q1 2022[20] - Earnings per share for Q1 2023 were ¥0.08, compared to ¥0.12 in Q1 2022[21] Cash Flow - The net cash flow from operating activities increased significantly by 533.20% to ¥58,822,992.43[5] - Cash inflow from operating activities in Q1 2023 was ¥185,355,142.00, down from ¥200,760,886.50 in Q1 2022[23] - In Q1 2023, the net cash flow from operating activities was $58,822,992.43, a significant increase from $9,289,805.01 in Q1 2022, reflecting improved operational efficiency[24] - The net cash flow from investing activities was $24,836,258.68, recovering from a negative cash flow of -$19,218,842.30 in the same quarter last year[24] - The total cash outflow from operating activities was $126,532,149.57, down from $191,471,081.49 in Q1 2022, suggesting improved cash management[24] Assets and Liabilities - Total assets at the end of the reporting period were ¥1,413,279,202.65, a decrease of 3.37% from the end of the previous year[6] - Current assets totaled ¥1,052,911,589.50, down from ¥1,124,582,983.93, indicating a decrease of about 6.4%[16] - Cash and cash equivalents were reported at ¥104,173,829.45, compared to ¥135,568,510.79 at the end of 2022, representing a decline of approximately 23.1%[15] - Total liabilities as of Q1 2023 were ¥332,749,199.06, a decrease from ¥392,636,626.19 in Q1 2022[18] - Total equity attributable to shareholders was ¥1,080,530,003.59, an increase from ¥1,069,910,378.90 in Q1 2022[18] Expenses - Research and development expenses totaled ¥15,548,630.28, accounting for 14.31% of operating revenue, an increase of 5.61 percentage points year-on-year[6] - Research and development expenses for Q1 2023 were ¥15,548,630.28, up from ¥14,016,521.69 in Q1 2022[19] - Total operating costs for Q1 2023 were ¥109,166,969.20, down 26.7% from ¥148,846,312.50 in Q1 2022[19] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 3,827[11] - The company reported a total of 10 major shareholders, with the largest shareholder holding 34.24% of the shares[13] Other Information - The company reported a non-recurring gain of ¥6,334,835.75 for the period[8] - The company has not disclosed any significant new product developments or market expansion strategies during this reporting period[14] - There were no significant mergers or acquisitions reported in the current quarter[14] - The company reported a foreign exchange loss of ¥444,404.74 in Q1 2023, compared to a gain of ¥491,179.40 in Q1 2022[21] - The impact of exchange rate fluctuations on cash and cash equivalents was $3,437,801.03, contrasting with a negative impact of -$255,960.94 in the previous year[25]

Financial Performance - The net profit attributable to shareholders for the year ended December 31, 2022, was RMB 37.0252 million, with the parent company's distributable profit at RMB 293.6719 million[5]. - The proposed cash dividend is RMB 0.5 per 10 shares (including tax), totaling RMB 6.1726 million, which represents 16.67% of the net profit attributable to the parent company[5]. - The company achieved operating revenue of CNY 612.66 million, a decrease of 14.17% compared to 2021[22]. - The net profit attributable to shareholders of the listed company was CNY 37.03 million, down 69.99% year-on-year[24]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 9.87 million, a decline of 90.04% compared to the previous year[24]. - The company's total assets increased by 4.09% year-on-year, reaching CNY 1,462.55 million at the end of 2022[25]. - The company's net assets attributable to shareholders were CNY 1,069.91 million, a slight decrease of 0.37% year-on-year[25]. - The basic earnings per share were CNY 0.30, down 73.21% from CNY 1.12 in 2021[23]. - The company reported a net cash flow from operating activities of 54.58 million RMB in Q4 2022, recovering from negative cash flow in previous quarters[27]. - The overall sales revenue decline was attributed to rising costs in raw materials, supply chain, logistics, labor, and energy, as well as increased share-based payment expenses and R&D costs[36]. Research and Development - Research and development expenses accounted for 8.88% of operating revenue, an increase of 4.38 percentage points compared to the previous year[23]. - The company increased its R&D investment intensity, with the scale and proportion of investment growing compared to the same period last year[36]. - R&D expenses for 2022 amounted to 54.38 million yuan, representing 8.88% of total revenue, with a year-on-year increase of 69.41%[39]. - The company has established a dedicated R&D center to manage new product development and project research[52]. - The company has developed a new electric dual-station vertical water channel hot core machine, improving dimensional accuracy and strength uniformity of sand cores by over 10% and 20% respectively[70]. - The company is focusing on the research and development of aluminum alloy functional materials, targeting high mechanical performance, corrosion resistance, and high-temperature resistance[70]. - The company has developed several key technologies for large-scale core production, including ultra-large sand core shooting technology and heavy-duty drive technology, and has applied for 4 patents[75]. - The company has filed 5 patents related to green casting inorganic core technology and is leading the compilation of an industry standard for inorganic core box technology[74]. - The company aims to enhance the performance of core equipment in the core-making industry, targeting a reduction in scrap rates from the current 5% for mid-to-low-end equipment to improve production efficiency[148]. Operational Efficiency - The company has established a modular management system to enhance operational efficiency and reduce waste[38]. - The company’s automated production line significantly improved production efficiency and reduced labor costs through the use of industrial robots[41]. - The company’s intelligent core control system can collect and adjust process parameters in real-time, ensuring product quality and production efficiency[102]. - The company has created a fully automated core production unit, significantly reducing labor costs and improving operational safety[76]. - The company is developing a fully automated intelligent casting unit, expected to reduce overall production costs by 10%[92]. - The company’s flexible rapid casting development technology allows for quick adaptation to market demands, significantly enhancing its casting service capabilities[72]. - The company’s digital low-pressure filling technology ensures the consistency of casting performance and improves production efficiency[71]. - The company has successfully applied its series of green intelligent sand core shooting machines in the new energy and fuel vehicle industries, achieving international leading technology levels[73]. Market and Industry Trends - The global aluminum alloy casting market is projected to reach $97.36 billion by 2025, with China's production share increasing from 13.1% in 2020 to 13.3%[58]. - The aluminum alloy casting industry is expected to see a shift towards high-quality, lightweight, and environmentally friendly production processes, driven by stringent national environmental regulations[151]. - The company plans to expand its market presence in Southeast Asia, targeting a 30% increase in market share by 2025[174]. - The company is exploring partnerships with international firms to enhance its global supply chain efficiency[174]. - The company is committed to continuous innovation in casting processes, aligning with national carbon neutrality strategies, and aims to lead the technological upgrade in the casting industry[152]. Corporate Governance - The company has established a governance structure that complies with legal requirements and ensures effective supervision and management[162]. - The company’s governance procedures for shareholder meetings complied with relevant laws and regulations[165]. - The company has appointed independent directors to ensure governance and oversight[179]. - The company has a compensation and assessment committee that reviews the remuneration of senior management[181]. - The company has maintained a consistent attendance record at board meetings, with no members missing more than two consecutive meetings[187]. - The company has not faced any penalties from securities regulatory agencies in the past three years, indicating a clean compliance record[184]. Employee and Talent Management - The company has a total of 765 employees, with 120 in R&D, representing 15.69% of the workforce[43]. - The average salary of R&D personnel increased to approximately CNY 246,670, up from CNY 227,105 in the previous year, reflecting a focus on talent retention and development[95]. - The company intends to enhance its talent acquisition and training programs, focusing on high-level R&D personnel in new materials and processes[158]. - The total remuneration for core technical personnel at the end of the reporting period was 8.5539 million RMB[182]. - The company is focused on aligning employee interests with shareholder value through its stock option program[171]. Risks and Challenges - The company faces risks related to raw material price fluctuations, which could significantly impact product costs and profit margins if not managed effectively[106]. - The company is exposed to financial risks including declining gross margins due to rising raw material costs and shipping fees[115]. - The macroeconomic environment poses risks, as fluctuations in economic growth could reduce demand for the company's products[118]. - The company faces risks related to high customer concentration, with major clients significantly impacting operational performance[110]. - There is a risk of substitution of aluminum alloy heat exchangers by stainless steel heat exchangers, which could affect market share[111].

2022 年第三季度报告 证券代码：688355 证券简称：明志科技 苏州明志科技股份有限公司 2022 年第三季度报告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或 者重大遗漏，并对其内容的真实性、准确性和完整性依法承担法律责任。 重要内容提示： 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完整， 不存在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 公司负责人、主管会计工作负责人及会计机构负责人（会计主管人员）保证季度报告中财务 信息的真实、准确、完整。 第三季度财务报表是否经审计 □是 √否 一、 主要财务数据 (一)主要会计数据和财务指标 单位：元 币种：人民币 (二)非经常性损益项目和金额 单位：元 币种：人民币 | 项目 | 本报告期 | 本报告期 | 年初至报告期末 | 年初至报告期 | | --- | --- | --- | --- | --- | | | | 比上年同 | | 末比上年同期 | | | | 期增减变 | | 增减变动幅度 | | | | 动幅度(%) | | (%) | | 营业收入 | 179,601,64 ...

Financial Performance - The company reported a total revenue of RMB 500 million for the first half of 2022, representing a year-on-year increase of 15%[15]. - The company's operating revenue for the first half of 2022 was CNY 281.80 million, a decrease of 11.41% compared to the same period last year[22]. - The net profit attributable to shareholders was CNY 6.33 million, down 86.72% year-on-year, while the net profit after deducting non-recurring gains and losses was CNY -5.75 million, a decline of 114.09%[22]. - The gross margin for the first half of 2022 was reported at 35%, a slight improvement from 33% in the same period last year[15]. - The company reported a total revenue of 167,080,000 RMB for the first half of 2022, with a net profit of 30,641,165.25 RMB, showing significant growth compared to the previous year[65]. - The company’s actual controllers hold a combined 68.88% of shares, which may impact decision-making stability if their agreement expires without renewal[91]. - The company reported a significant increase in revenue, achieving a total of $500 million for the first half of 2022, representing a 25% year-over-year growth[129]. Research and Development - Investment in R&D increased by 25% year-on-year, focusing on high-end casting equipment and automation technologies[15]. - Research and development expenses increased by 105.18% year-on-year, amounting to CNY 15.70 million, reflecting the company's intensified focus on key R&D projects[25]. - The total R&D investment reached approximately 30.64 million yuan, a 105.08% increase compared to the previous year, accounting for 10.87% of operating revenue[58]. - The number of R&D personnel increased from 89 to 108, reflecting a focus on enhancing rapid core-making and high-performance aluminum alloy casting technologies[59]. - The company has established a comprehensive R&D system, having undertaken 3 national and 9 provincial research projects, which supports continuous technological advancement[71]. - The company is investing $50 million in research and development to advance its technology capabilities over the next year[129]. Market Expansion and Strategy - The company plans to expand its market presence in Europe and North America, targeting a 30% increase in international sales by the end of 2023[15]. - The company is actively expanding its market presence through the development of automated and intelligent casting systems, enhancing production efficiency and product quality[38]. - The company is expanding its market presence in the aerospace, marine, and automotive sectors, focusing on high-value-added services and production lines[62]. - The company is focusing on the development of high-quality aluminum alloy castings and advanced core equipment, driving synergistic growth between its equipment and casting businesses[70]. - The company is expanding its market presence in Southeast Asia, targeting a 20% market share by the end of 2023[129]. Operational Challenges and Risks - The company has identified several operational risks, including supply chain disruptions and market volatility, which are detailed in the management discussion section[15]. - The company faced significant cost increases in raw materials, supply chain, logistics, and labor, which adversely affected profit margins[22]. - The net cash flow from operating activities decreased by 259.23% year-on-year, primarily due to project acceptance delays caused by the pandemic, resulting in lower cash inflows from sales[27]. - The company is exposed to raw material price volatility, particularly for aluminum ingots, which could affect product costs and profit margins[89]. - The overall financial performance is closely tied to macroeconomic conditions, with potential risks arising from economic slowdowns affecting demand in key industries such as energy, automotive, and rail transportation[96]. Environmental Commitment - The company is committed to leading the green casting industry by developing technologies such as the inorganic casting process and the inorganic core-making machine, which have received recognition from the Ministry of Industry and Information Technology[120]. - The company has implemented a precision core-making process that significantly reduces energy consumption and increases sand recovery rates, effectively lowering the environmental impact of the casting production process[122]. - The company is focused on reducing carbon emissions primarily through electricity conservation measures, including heat recovery from air compressors and the use of photovoltaic power generation[122]. - The company has achieved a greenhouse gas emission rate of 0.27 tons per ten thousand yuan of output value, indicating efficient resource utilization[119]. - The company has successfully developed a green binder system integrated with inorganic materials, which is part of the "Made in China 2025" initiative for industrial transformation and upgrading[120]. Shareholder and Governance Matters - The company has committed to a stock incentive plan to align the interests of shareholders and management, which was approved in the second extraordinary general meeting of 2021[115]. - The company will disclose any failure to fulfill commitments and the reasons for such failures in a timely manner[132]. - The company has established measures to reduce and regulate related party transactions, ensuring fairness and compliance with legal regulations[174]. - The company will ensure compliance with relevant laws and regulations regarding shareholding and transfer[142]. - The company has no significant litigation or arbitration matters during the reporting period[178]. Future Outlook - The company expects a revenue growth forecast of 10% to 15% for the second half of 2022, driven by new product launches and market expansion strategies[15]. - The company plans to gradually restore performance as the pandemic situation improves and project deliveries resume[22]. - The company provided an optimistic outlook for the second half of 2022, projecting a revenue increase of 30% based on current market trends[129].

Financial Performance - The company plans to distribute a cash dividend of 4 RMB per 10 shares, totaling approximately 49.34 million RMB, which represents 40% of the net profit attributable to shareholders for 2021[5]. - The company has not yet achieved profitability since its listing[4]. - In 2021, the company achieved operating revenue of CNY 713.79 million, a year-on-year increase of 16.54%[20]. - The net profit attributable to shareholders was CNY 123.36 million, reflecting a growth of 4.82% compared to the previous year[22]. - The net profit after deducting non-recurring gains and losses was CNY 99.12 million, up 4.71% year-on-year[20]. - The company's total assets reached CNY 1,405.08 million, an increase of 79.31% from the previous year[20]. - The net assets attributable to shareholders were CNY 1,073.86 million, representing a significant growth of 136.49% year-on-year[22]. - The basic earnings per share decreased to CNY 1.12, down 12.50% from the previous year[21]. - The net profit attributable to shareholders for Q4 2021 was RMB 58.25 million, with a significant increase from previous quarters[23]. - The company reported a net cash flow from operating activities of RMB 63.63 million in Q4 2021, indicating strong cash generation capabilities[23]. Research and Development - The R&D investment accounted for 4.50% of operating revenue, an increase of 0.16 percentage points compared to the previous year[21]. - The company increased its R&D investment, with a notable rise in both the scale and proportion of investment compared to the previous year[30]. - The company has developed a core technology system with independent intellectual property rights, resulting in 174 authorized patents, including 85 invention patents and 87 utility model patents as of December 31, 2021[33]. - The company achieved a 20.8% increase in R&D investment in 2021, totaling ¥32,098,390.03, driven by new project developments and increased personnel costs[68]. - The company holds a total of 174 patents, including 85 invention patents and 87 utility model patents, reflecting its strong core technology advantages[65]. - The company has established a comprehensive R&D system with 97 technical personnel, enhancing its innovation capacity[82]. - The company is investing $50 million in R&D for new technologies aimed at enhancing product efficiency[148]. Operational Efficiency and Technology - The company implemented a digital management system to enhance operational efficiency and reduce costs[32]. - The company has successfully upgraded its core technology in core-making equipment, resulting in the MiCC300 integrated core-making unit, which has achieved international leading levels in technology and has been applied in industries such as new energy and fuel vehicles[34]. - The company has developed a green casting solution based on inorganic processes and dual-process core-making technology, meeting the upgrading needs of the automotive industry[35]. - The company has made significant progress in developing ultra-large core-making equipment for ship engines, with four invention and utility model patents applied for, aiming to replace foreign imports and promote green and efficient production in the ship casting industry[35]. - The company has implemented low-pressure pouring technology in various aluminum alloy products, achieving a gold award for quality castings at the 19th China International Foundry Expo[36]. - The company has developed the MDY01 series digital pouring unit, which improves casting mechanical properties and surface quality while increasing production efficiency[36]. - The company is focusing on smart manufacturing technologies, including MES and industrial robotics, to optimize production processes in the aluminum alloy casting sector[58]. Market and Product Development - The company is actively expanding into new product application areas, including a large-scale core shooting machine order for marine diesel engine parts[31]. - The company is focusing on the automotive and aerospace sectors, providing high-performance aluminum castings for new energy vehicles[76]. - The company aims to achieve a strength increase in aluminum alloy castings from ≥300MPa to ≥420MPa, enhancing high-temperature performance by 20%[75]. - The company is expanding its market presence in the new energy vehicle sector, targeting lightweight and high-performance components[76]. - The company is focusing on market expansion strategies and new product development as part of its growth initiatives[164]. Corporate Governance - The company does not have any special arrangements for corporate governance[8]. - The board of directors and supervisory board members have confirmed the accuracy and completeness of the annual report[4]. - The company has established a governance structure with a board of directors, supervisory board, and management team to ensure effective decision-making and compliance with regulations[137]. - The company is committed to strict compliance with the Company Law and regulatory rules during all committee meetings, ensuring diligent and responsible governance[164]. - The company has a clear strategy for maintaining independence and avoiding conflicts of interest with its controlling shareholder[137]. Environmental Responsibility - The company has invested in energy-saving projects such as rooftop photovoltaic power generation and energy management information systems, achieving significant results[192]. - The company has implemented a comprehensive waste management system, ensuring that hazardous waste is collected and disposed of by qualified units, with no direct emissions[199]. - The company adheres to national environmental laws and regulations, fulfilling its social responsibility in ecological protection[200]. Risks and Challenges - The company has detailed various operational risks and corresponding countermeasures in the report[4]. - The company is exposed to risks related to raw material price fluctuations and potential geopolitical issues affecting its export markets[88]. - The company faced risks related to high customer concentration, with major clients significantly impacting operational performance[89]. - The company is at risk of financial impacts from potential changes in tax policies affecting its current preferential tax rate of 15%[94].