Core Insights - The company reported a significant increase in revenue and net profit for the first half of 2025, indicating strong business performance [1] Financial Performance - The company achieved an operating revenue of 320 million yuan, representing a year-on-year growth of 49.86% [1] - The net profit attributable to shareholders reached 18.57 million yuan, showing a remarkable year-on-year increase of 224.80% [1] - Basic earnings per share were reported at 0.03 yuan [1] Business Segments - The main business activities of the company include jewelry and gold operations, as well as bicycle and new energy lithium battery materials [1] - As of the end of the reporting period, the company's inventory balance for jewelry business was 244 million yuan, which is an increase of 189% compared to the beginning of the period [1]

Group 1 - The company reported a revenue of approximately 320 million yuan for the first half of 2025, representing a year-on-year increase of 49.86% [1] - The net profit attributable to shareholders was approximately 18.57 million yuan, showing a year-on-year increase of 224.8% [1] - The basic earnings per share reached 0.0269 yuan, which is a year-on-year increase of 224.1% [1]

| 非经营性 资金占用 | 资金占用方名称 | 占用方与上市公 司的关联关系 | 上市公司核算 的会计科目 | 2025年期初 往来资金余额 | 2025年1-6月 往来累计发生金额 | 2025年1-6月 往来资金的利息 | 2025年1-6月 偿还累计发生金额 | 2025年半年度 期末 | 占用形成 原因 | 占用性质 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | | | | （不含利息） | （如有） | | 往来资金余额 | | | | 现大股东及其附属企业 | 无 | | | | | | | | | | | 小计 | | | | | - | | | - | | | | 前大股东及其附属企业 | 无 | | | | | | | | | | | 小计 | | | | | | | | | | | | 合计 | 0 | 0 | | 0 | - | | | - | | | | 其他关联 | 资金往来方名称 | 往来方与上市公 | 上市公司核算 | 2025年期初 | 2025年1-6月 往来累计发生金额 ...

深圳中华自行车（集团）股份有限公司 2025 年半年度财务报告 深圳中华自行车（集团）股份有限公司 2025 年半年度财务报告 2025 年 8 月 1 深圳中华自行车（集团）股份有限公司 2025 年半年度财务报告 一、审计报告 半年度报告是否经过审计 □是 否 公司半年度财务报告未经审计。 1、合并资产负债表 编制单位：深圳中华自行车（集团）股份有限公司 2025 年 06 月 30 日 单位：元 | 项目 | 期末余额 | 期初余额 | | --- | --- | --- | | 流动资产： | | | | 货币资金 | 59,154,588.98 | 80,974,360.59 | | 结算备付金 | | | | 拆出资金 | | | | 交易性金融资产 | | | | 衍生金融资产 | | | | 应收票据 | | | | 应收账款 | 163,011,475.07 | 233,608,634.59 | | 应收款项融资 | | | | 预付款项 | 675,634.48 | 931,762.60 | | 应收保费 | | | | 应收分保账款 | | | | 应收分保合同准备金 | | | | 其 ...

证券代码：000017、200017 证券简称：深中华 A、深中华 B 公告编号：2025-018 深圳中华自行车（集团）股份有限公司 第十届监事会第十四次会议决议公告 本 公 司 及 监 事 会 全 体 成 员 保 证 公 告 内 容 真 实 、准 确 、完 整 ，没 有 虚 假 记 载 、 误 导 性 陈 述 或 者 重 大 遗 漏 。 一、监事会会议召开情况 会议以赞成 3 票，反对 0 票，弃权 0 票审议通过了《2025 年半年度报告》及其 摘要，具体内容详见同日刊登于巨潮资讯网(www.cninfo.com.cn)的《2025 年半年 度报告》及《2025 年半年度报告摘要》。本议案已经公司第十一届董事会审计委员 会全票审议通过。 三、备查文件 3、监事会会议出席情况、主持人及列席人员 会议应参与表决监事三人，实际参与表决监事三人。会议由监事会召集人郭勇 先生主持。 4、会议的召开符合有关法律、行政法规、部门规章、规范性文件和《公司章 程》的规定。 二、监事会会议审议情况 1、《2025 年半年度报告》及其摘要 1、监事会会议通知的时间和方式 本公司第十届监事会于 2025 年 8 月 4 日以电 ...

证券代码：000017、200017 证券简称：深中华 A、深中华 B 公告编号：2025-017 深圳中华自行车（集团）股份有限公司 第十一届董事会第二十次会议决议公告 本 公 司 及 董 事 会 全 体 成 员 保 证 公 告 内 容 真 实 、 准 确 、 完 整 ， 没 有 虚 假 记 载 、 误 导 性 陈 述 或 者 重 大 遗 漏 。 一、董事会会议召开情况 1、董事会会议通知的时间和方式 本公司第十一届董事会于 2025 年 8 月 4 日以电子邮件方式向全体董事发出了 召开第二十次会议的通知。 2、深交所要求的其他文件。 3、董事会会议出席情况、主持人及列席人员 会议应参与表决董事九人，实际参与表决董事九人，会议由董事长王胜洪先生 主持。公司监事会成员和高级管理人员列席会议。 4、会议的召开符合有关法律、行政法规、部门规章、规范性文件和《公司章 程》的规定。 二、董事会会议审议情况 1、《2025 年半年度报告》及其摘要 会议以赞成 9 票，反对 0 票，弃权 0 票审议通过了《2025 年半年度报告》及其 摘要，具体内容详见同日刊登于巨潮资讯网(www.cninfo.com.cn)的《20 ...

[Important Notice, Table of Contents and Definitions](index=2&type=section&id=Section%201%20Important%20Notice%2C%20Table%20of%20Contents%20and%20Definitions) The board, supervisory board, and senior management guarantee the report's authenticity, accuracy, and completeness, with key executives ensuring financial report integrity, and no cash dividends or bonus shares planned for H1 2025 - The company's board of directors, supervisory board, and senior management ensure the truthfulness, accuracy, and completeness of this semi-annual report and bear legal responsibility; Wang Shenghong (person in charge), Sun Longlong (head of accounting work), and She Hanxing (head of accounting department) guarantee the authenticity of the financial report[4](index=4&type=chunk) - The company plans not to distribute cash dividends, bonus shares, or convert capital reserves into share capital for the first half of 2025[4](index=4&type=chunk) [Company Profile and Key Financial Indicators](index=6&type=section&id=Section%202%20Company%20Profile%20and%20Key%20Financial%20Indicators) This section provides an overview of the company's basic information and highlights significant financial performance and position changes for the reporting period [Company Profile](index=6&type=section&id=I.%20Company%20Profile) Shenzhen China Bicycle (Group) Co., Ltd. is listed on the Shenzhen Stock Exchange with A-share code 000017 and B-share code 200017, and its legal representative is Wang Shenhong Company Basic Information | Item | Content | | :--- | :--- | | **Stock Abbreviation** | Shenzhonghua A, Shenzhonghua B | | **Stock Code** | 000017, 200017 | | **Listing Exchange** | Shenzhen Stock Exchange | | **Full Chinese Name** | 深圳中华自行车（集团）股份有限公司 | | **Legal Representative** | Wang Shenhong | [Key Accounting Data and Financial Indicators](index=7&type=section&id=IV.%20Key%20Accounting%20Data%20and%20Financial%20Indicators) In the first half of 2025, the company achieved strong performance growth, with operating revenue increasing by 49.86% and net profit attributable to shareholders surging by 224.80%, alongside steady growth in total assets and net assets Key Financial Indicators for H1 2025 | Indicator | Current Reporting Period | Prior Year Period | Year-on-Year Change | | :--- | :--- | :--- | :--- | | **Operating Revenue (yuan)** | 319,943,616.63 | 213,499,597.25 | 49.86% | | **Net Profit Attributable to Shareholders of Listed Company (yuan)** | 18,570,777.64 | 5,717,642.69 | 224.80% | | **Net Cash Flow from Operating Activities (yuan)** | -38,503,422.49 | -51,328,808.82 | 24.99% | | **Basic Earnings Per Share (yuan/share)** | 0.0269 | 0.0083 | 224.10% | | **Weighted Average Return on Net Assets** | 5.26% | 1.83% | 3.43% | | **Indicator** | **End of Current Reporting Period** | **End of Prior Year** | **Year-on-Year Change** | | **Total Assets (yuan)** | 496,231,122.82 | 434,452,097.75 | 14.22% | | **Net Assets Attributable to Shareholders of Listed Company (yuan)** | 361,897,224.68 | 343,761,246.16 | 5.28% | [Non-recurring Gains and Losses and Amounts](index=7&type=section&id=VI.%20Non-recurring%20Gains%20and%20Losses%20and%20Amounts) During the reporting period, the company's total non-recurring gains and losses amounted to 635,000 yuan, primarily from the reversal of impairment provisions for receivables and other non-operating income and expenses Non-recurring Gains and Losses Items | Item | Amount (yuan) | | :--- | :--- | | Reversal of impairment provisions for accounts receivable subject to separate impairment testing | 92,482.17 | | Other non-operating income and expenses apart from the above | 838,867.21 | | Less: Income tax impact | 229,010.09 | | Less: Impact on minority interests (after tax) | 67,309.45 | | **Total** | **635,029.84** | [Management Discussion and Analysis](index=9&type=section&id=Section%203%20Management%20Discussion%20and%20Analysis) This section provides an in-depth analysis of the company's main business operations, core competencies, financial performance, asset and liability status, investment activities, and risk management strategies [Overview of Main Business](index=9&type=section&id=I.%20Main%20Businesses%20Engaged%20by%20the%20Company%20During%20the%20Reporting%20Period) The company's main business comprises two segments: jewelry and gold, and bicycles and new energy lithium battery materials; the jewelry and gold business, as the core, provides design, processing, and wholesale services to B2B clients by integrating upstream and downstream resources, showing strong growth driven by market demand - The company primarily engages in two major businesses: (1) **jewelry and gold business**, providing procurement, design, and processing services to downstream brand owners and distributors; and (2) **bicycle and new energy lithium battery materials business**[25](index=25&type=chunk) - The jewelry industry exhibits trends such as market differentiation, digital transformation, design innovation-driven growth, intense channel competition, and increasing importance of supply chain management[27](index=27&type=chunk)[28](index=28&type=chunk)[29](index=29&type=chunk)[30](index=30&type=chunk) Inventory Status of Jewelry Business at Period End | Inventory Type | Category | Amount (yuan) | Proportion | | :--- | :--- | :--- | :--- | | **Finished Goods** | Inlaid, gold jewelry, etc | 42,560,850.15 | 17.47% | | **Raw Materials** | Gold, diamonds | 198,473,710.12 | 81.48% | | **Work-in-Progress** | - | 2,558,070.04 | 1.05% | | **Total** | - | **243,592,630.31** | **100.00%** | [Analysis of Core Competitiveness](index=11&type=section&id=II.%20Analysis%20of%20Core%20Competitiveness) The company's core competitiveness lies primarily in its jewelry and gold business, encompassing a high-quality upstream supplier system, diversified downstream client resources, comprehensive production and design supply chain integration capabilities, and a stringent closed-loop business process and risk control system - The company's core competitiveness is built around its jewelry and gold business, primarily featuring four advantages: **high-quality upstream supply** with stable partnerships with the Shanghai Gold Exchange and major domestic and international diamond suppliers; **diversified downstream channels** actively expanding cooperation with various jewelry brands and wholesalers; a **complete industry chain** offering integrated design, production, processing, testing, and wholesale services; and a **closed-loop risk control system** with strict supplier access, client evaluation, and full-process order tracking[38](index=38&type=chunk)[40](index=40&type=chunk) [Analysis of Main Business](index=12&type=section&id=III.%20Analysis%20of%20Main%20Business) During the reporting period, the company's performance growth was primarily driven by the jewelry and gold business, which saw a 50.90% increase in revenue, accounting for 99.70% of total revenue, leading to significant growth in operating revenue, operating costs, and net profit, while sales and administrative expenses rose due to increased labor and marketing costs, and financial expenses surged due to higher borrowing interest Year-on-Year Changes in Key Financial Data | Item | Current Reporting Period (yuan) | Prior Year Period (yuan) | Year-on-Year Change | Main Reasons for Change | | :--- | :--- | :--- | :--- | :--- | | **Operating Revenue** | 319,943,616.63 | 213,499,597.25 | 49.86% | Growth in jewelry and gold business revenue | | **Operating Cost** | 285,089,133.54 | 200,995,029.52 | 41.84% | Corresponding increase in jewelry and gold business costs | | **Selling Expenses** | 3,955,043.06 | 1,778,393.48 | 122.39% | Increase in labor costs and marketing promotion expenses | | **Administrative Expenses** | 6,158,206.48 | 3,928,458.71 | 56.76% | Increase in labor costs and daily expenses | | **Financial Expenses** | 258,062.61 | -1,159.50 | 22,356.37% | Increase in borrowing interest | | **Net Profit** | 18,925,199.69 | 5,508,028.88 | 243.59% | Growth in jewelry and gold business revenue, etc | Operating Revenue Composition (by Industry) | Industry | Current Reporting Period Revenue (yuan) | Proportion of Total Revenue | Year-on-Year Change | | :--- | :--- | :--- | :--- | | **Gold and Jewelry** | 318,979,752.50 | 99.70% | 50.90% | | **Bicycle, Lithium Battery Materials, and Others** | 963,864.13 | 0.30% | -54.36% | [Analysis of Assets and Liabilities](index=13&type=section&id=V.%20Analysis%20of%20Assets%20and%20Liabilities) At the end of the reporting period, the company's total assets increased by 14.22% from the beginning of the year, with a significant shift in asset structure as inventory's proportion of total assets surged to 49.10% due to increased stocking, while accounts receivable's proportion sharply decreased to 32.85% due to improved sales collection Significant Changes in Asset Composition | Item | Amount at End of Current Reporting Period (yuan) | Proportion of Total Assets | Amount at End of Prior Year (yuan) | Proportion of Total Assets | Change in Proportion | Explanation for Significant Change | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | **Accounts Receivable** | 163,011,475.07 | 32.85% | 233,608,634.59 | 53.77% | -20.92% | Increase in sales collection during the period | | **Inventory** | 243,632,693.54 | 49.10% | 84,349,675.00 | 19.42% | 29.68% | Increase in inventory stocking during the period | [Analysis of Investment Status](index=14&type=section&id=VI.%20Analysis%20of%20Investment%20Status) During the reporting period, the company's investment amounted to 20.70 million yuan, a substantial increase of 292.06% compared to 5.28 million yuan in the same period last year Investment Amount Changes | Item | Amount (yuan) | | :--- | :--- | | **Investment Amount for Reporting Period** | 20,700,690.00 | | **Investment Amount for Prior Year Period** | 5,280,000.00 | | **Change Percentage** | 292.06% | [Analysis of Major Holding and Participating Companies](index=15&type=section&id=VIII.%20Analysis%20of%20Major%20Holding%20and%20Participating%20Companies) Shenzhen Xinsen Jewelry Gold Co., Ltd., the company's main subsidiary, is a core profit source, achieving 162 million yuan in operating revenue and 11.53 million yuan in net profit during the reporting period, significantly contributing to the group's overall performance Key Financial Data of Shenzhen Xinsen Jewelry Gold Co., Ltd | Indicator | Amount (yuan) | | :--- | :--- | | **Total Assets** | 227,248,533.74 | | **Net Assets** | 139,051,710.03 | | **Operating Revenue** | 162,413,300.08 | | **Operating Profit** | 14,448,648.80 | | **Net Profit** | 11,526,471.53 | [Risks Faced by the Company and Countermeasures](index=15&type=section&id=X.%20Risks%20Faced%20by%20the%20Company%20and%20Countermeasures) The company faces three main risks: raw material price fluctuations, intensified market competition, and declining market demand; to mitigate these, it plans to strengthen corporate governance, expand jewelry business clients and international markets, maintain and grow bicycle and new energy businesses, and continue to follow up on asset management and litigation matters - The company's main operational risks include: **raw material price fluctuation risk**, as prices of gold and diamonds are highly susceptible to international economic conditions; **intensified market competition risk** in the jewelry industry, shifting from price competition to comprehensive competition in brand, model, channels, design, and quality; and **market demand decline risk**, as jewelry, an optional consumer good, is vulnerable to macroeconomic slowdowns[59](index=59&type=chunk)[60](index=60&type=chunk) - The company's countermeasures include: strengthening corporate governance and team building; further expanding the supplier system and client resources for the gold and jewelry business, and developing international business; maintaining and expanding the bicycle, electric bicycle, and new energy businesses; and continuing to cooperate with administrators on asset management and follow up on litigation execution[61](index=61&type=chunk) [Corporate Governance, Environment and Society](index=17&type=section&id=Section%204%20Corporate%20Governance%2C%20Environment%20and%20Society) This section outlines the company's commitment to social responsibility, focusing on protecting stakeholder rights, fostering transparent communication, and ensuring employee welfare and development [Social Responsibility](index=17&type=section&id=V.%20Social%20Responsibility) During the reporting period, the company actively fulfilled its social responsibilities, focusing on protecting shareholder, employee, supplier, client, and consumer rights, striving for common development with all stakeholders through standardized governance, open investor communication, safeguarding employee legal rights, and fostering good cooperative relationships - The company protects shareholder rights through various means, including combining on-site and online voting at general meetings and separate vote counting for small and medium investors[67](index=67&type=chunk) - The company held its 2024 annual performance briefing on May 15, 2025, to enhance communication with investors[68](index=68&type=chunk) - The company strictly adheres to labor laws, pays social insurance and housing provident fund for employees, and focuses on employee growth and training, establishing an internal knowledge-sharing system[69](index=69&type=chunk) [Significant Matters](index=19&type=section&id=Section%205%20Significant%20Matters) This section details the fulfillment of commitments by the controlling shareholder, significant related party transactions, and important developments concerning the company's subsidiaries [Fulfillment of Commitments](index=19&type=section&id=I.%20Commitments%20Fulfilled%20and%20Overdue%20Unfulfilled%20by%20the%20Company%27s%20Actual%20Controller%2C%20Shareholders%2C%20Related%20Parties%2C%20Acquirers%2C%20and%20the%20Company%20During%20and%20as%20of%20the%20End%20of%20the%20Reporting%20Period) Controlling shareholder Wansheng Industrial made performance commitments for 2023-2025; due to the 2024 net profit shortfall, Wansheng Industrial paid 18.1548 million yuan in performance compensation on April 29, 2025, fulfilling its obligation for that year, with remaining commitments still in progress - Controlling shareholder Wansheng Industrial committed that the company's net profit for 2023-2025 would be no less than **30 million yuan**, **35 million yuan**, and **40 million yuan**, respectively[71](index=71&type=chunk) - Due to the 2024 performance not meeting the commitment, Wansheng Industrial has paid **18.1548 million yuan** in cash compensation, fulfilling its 2024 performance compensation commitment[92](index=92&type=chunk) [Significant Related Party Transactions](index=21&type=section&id=XI.%20Significant%20Related%20Party%20Transactions) There were no significant related party transactions related to daily operations during the reporting period; however, related party receivables and payables existed, with the company recovering 18.1548 million yuan in performance compensation from controlling shareholder Wansheng Industrial for unfulfilled 2024 performance commitments, and owing 6.5 million yuan to shareholder Guosheng Energy Related Party Receivables and Payables | Type of Transaction | Related Party | Beginning Balance (million yuan) | Current Period Change (million yuan) | Ending Balance (million yuan) | Reason for Formation | | :--- | :--- | :--- | :--- | :--- | :--- | | **Accounts Receivable** | Wansheng Industrial Holdings (Shenzhen) Co., Ltd | 18.1548 | -18.1548 | 0 | Performance commitment compensation | | **Accounts Payable** | Shenzhen Guosheng Energy Investment Development Co., Ltd | 6.50 | 0 | 6.50 | Subsidiary borrowing | [Significant Matters of Subsidiaries](index=23&type=section&id=XIV.%20Significant%20Matters%20of%20Company%20Subsidiaries) During the reporting period, the company's wholly-owned grandchild company, Xinsen Precision, signed a non-exclusive patent license agreement with Shenzhen Zhouliufu, allowing the use of multiple utility model patents to promote new process applications and intellectual property commercialization, thereby enhancing market competitiveness, with the contract currently being fulfilled - The company's wholly-owned grandchild company, Xinsen Precision, signed a patent license agreement with Shenzhen Zhouliufu, permitting the latter to sell gold ring products incorporating the relevant patents within mainland China[93](index=93&type=chunk) [Share Changes and Shareholder Information](index=24&type=section&id=Section%206%20Share%20Changes%20and%20Shareholder%20Information) This section details the company's share capital structure and the holdings of its major shareholders as of the end of the reporting period [Share Change Status](index=24&type=section&id=I.%20Share%20Change%20Status) As of the end of the reporting period, the company's total share capital remained unchanged at 689,184,933 shares, with restricted shares accounting for 20.00% and unrestricted shares for 80.00% Share Structure | Share Type | Quantity (shares) | Proportion | | :--- | :--- | :--- | | **I. Restricted Shares** | 137,836,986 | 20.00% | | **II. Unrestricted Shares** | 551,347,947 | 80.00% | | **III. Total Share Capital** | **689,184,933** | **100.00%** | [Shareholder Numbers and Shareholding Status](index=25&type=section&id=III.%20Company%20Shareholder%20Numbers%20and%20Shareholding%20Status) As of the end of the reporting period, the company had 51,528 common shareholders, with the top three being Wansheng Industrial Holdings (Shenzhen) Co., Ltd. (20.00%), Shenzhen Guosheng Energy Investment Development Co., Ltd. (9.22%), and UOB Kay Hian (Hong Kong) Limited (5.92%) Top Three Shareholders' Shareholding Status | Shareholder Name | Shareholder Nature | Shareholding Proportion | Number of Shares Held (shares) | | :--- | :--- | :--- | :--- | | Wansheng Industrial Holdings (Shenzhen) Co., Ltd | Domestic Non-State-Owned Legal Person | 20.00% | 137,836,986 | | Shenzhen Guosheng Energy Investment Development Co., Ltd | Domestic Non-State-Owned Legal Person | 9.22% | 63,508,747 | | UOB Kay Hian (Hong Kong) Limited | Overseas Legal Person | 5.92% | 40,817,329 | [Bond-Related Information](index=28&type=section&id=Section%207%20Bond-Related%20Information) This section confirms that the company had no bond-related activities or outstanding bonds during the reporting period [Bond-Related Information](index=28&type=section&id=Bond-Related%20Information) The company had no bond-related matters during the reporting period - The company had no bond-related matters during this reporting period[106](index=106&type=chunk) [Financial Report](index=29&type=section&id=Section%208%20Financial%20Report) This section presents the company's unaudited semi-annual financial statements, including the balance sheet, income statement, and cash flow statement, along with detailed notes on key items [Audit Report](index=29&type=section&id=I.%20Audit%20Report) The company's 2025 semi-annual financial report is unaudited - This semi-annual financial report is unaudited[108](index=108&type=chunk) [Financial Statements](index=29&type=section&id=II.%20Financial%20Statements) As of June 30, 2025, the financial statements show total assets of 496 million yuan, total liabilities of 125 million yuan, and equity attributable to parent company owners of 362 million yuan, with operating revenue of 320 million yuan and net profit attributable to parent company of 18.57 million yuan for H1 2025, and net cash flow from operating activities of -38.50 million yuan Key Items from Consolidated Balance Sheet (2025-06-30) | Item | Period-End Balance (yuan) | Period-Beginning Balance (yuan) | | :--- | :--- | :--- | | **Total Assets** | 496,231,122.82 | 434,452,097.75 | | **Total Liabilities** | 124,626,562.12 | 66,312,937.62 | | **Equity Attributable to Parent Company Owners** | 361,897,224.68 | 343,761,246.16 | Key Items from Consolidated Income Statement (H1 2025) | Item | Amount for Current Period (yuan) | Amount for Prior Period (yuan) | | :--- | :--- | :--- | | **Total Operating Revenue** | 319,943,616.63 | 213,499,597.25 | | **Operating Profit** | 23,142,866.31 | 6,456,202.00 | | **Net Profit** | 18,925,199.69 | 5,508,028.88 | | **Net Profit Attributable to Parent Company Shareholders** | 18,570,777.64 | 5,717,642.69 | Key Items from Consolidated Cash Flow Statement (H1 2025) | Item | Amount for Current Period (yuan) | Amount for Prior Period (yuan) | | :--- | :--- | :--- | | **Net Cash Flow from Operating Activities** | -38,503,422.49 | -51,328,808.82 | | **Net Cash Flow from Investing Activities** | -10,358.00 | -68,793.99 | | **Net Cash Flow from Financing Activities** | 17,303,710.54 | 21,848,051.76 | | **Net Increase in Cash and Cash Equivalents** | -21,644,905.59 | -29,549,551.05 | [Notes to Consolidated Financial Statement Items](index=97&type=section&id=VII.%20Notes%20to%20Consolidated%20Financial%20Statement%20Items) This section details each item in the consolidated financial statements, highlighting that the top five accounts receivable comprise 80.13% of the total, raw materials constitute 81.48% of inventory, short-term borrowings are primarily credit-based for working capital, and operating revenue mainly stems from the gold and jewelry industry Top Five Accounts Receivable Balances at Period End | Unit Name | Period-End Balance (yuan) | Proportion of Total | | :--- | :--- | :--- | | Shenzhen Yunshang Jewelry Co., Ltd | 39,422,819.30 | 20.78% | | Fuzhou Rongrun Jewelry Co., Ltd | 37,974,476.12 | 20.02% | | Fuzhou Cangshan Dingjue Jewelry Store | 31,458,994.23 | 16.58% | | Guangshui Jiaxu Energy Technology Co., Ltd | 22,019,832.63 | 11.61% | | Fuzhou Zuanjinsen Jewelry Co., Ltd | 21,139,146.55 | 11.14% | | **Total** | **152,015,268.83** | **80.13%** | Inventory Classification (Period End) | Item | Book Value (yuan) | | :--- | :--- | | Raw Materials | 198,473,710.12 | | Merchandise Inventory | 41,000,022.04 | | Consigned Processing Materials | 4,158,961.38 | | **Total** | **243,632,693.54** | - As of the period end, the company's short-term borrowings totaled **24.25 million yuan**, all credit-based from Bank of Communications and CITIC Bank, used for daily operational turnover[449](index=449&type=chunk) [Other Submitted Data](index=176&type=section&id=Section%209%20Other%20Submitted%20Data) This section details the company's investor relations activities during the reporting period, including performance briefings and ongoing communication channels [Investor Relations Activities](index=176&type=section&id=II.%20Registration%20Form%20for%20Investor%20Research%2C%20Communication%2C%20Interview%2C%20and%20Other%20Activities%20During%20the%20Reporting%20Period) During the reporting period, the company actively communicated with investors via online platforms and telephone, holding its 2024 annual online performance briefing on May 15, 2025, to discuss operational status and future development plans - The company held its 2024 annual performance briefing via an online platform on May 15, 2025, and maintained communication with individual investors through telephone hotlines during the reporting period[669](index=669&type=chunk)[670](index=670&type=chunk)

Core Viewpoint - The company reported a significant increase in revenue and net profit for the first half of 2025, indicating strong financial performance and growth potential [1] Financial Performance - The company's operating revenue for the first half of 2025 reached 320 million, representing a year-on-year growth of 49.86% [1] - The net profit for the same period was 18.57 million, showing a remarkable year-on-year increase of 224.80% [1] Dividend Policy - The company announced that it will not distribute cash dividends, issue bonus shares, or increase capital using reserves [1]

Market Overview - On August 18, the jewelry sector rose by 0.11% compared to the previous trading day, with Xinhua Jin leading the gains [1] - The Shanghai Composite Index closed at 3728.03, up by 0.85%, while the Shenzhen Component Index closed at 11835.57, up by 1.73% [1] Individual Stock Performance - Xinhua Jin (600735) closed at 8.44, with a gain of 2.93% and a trading volume of 194,700 shares, amounting to a transaction value of 164 million yuan [1] - Ruibeka (600439) closed at 3.14, up by 1.95%, with a trading volume of 362,900 shares and a transaction value of 114 million yuan [1] - Diya Co. (301177) closed at 29.33, gaining 1.56% with a trading volume of 17,400 shares and a transaction value of 51 million yuan [1] - Other notable performances include: - Mingpai Jewelry (002574) at 5.78, up by 1.05% [1] - Chaohongji (002345) at 15.36, up by 0.66% [1] - Mankalon (300945) at 18.72, up by 0.38% [1] - China Gold (600916) at 8.16, up by 0.25% [1] - Laofengxiang (600612) at 47.37, up by 0.06% [1] - Zhou Dazheng (002867) at 13.02, down by 0.15% [1] Capital Flow Analysis - The jewelry sector experienced a net outflow of 191 million yuan from institutional investors, while retail investors saw a net inflow of 166 million yuan [2] - Notable capital flows for individual stocks include: - Chaohongji (002345) had a net inflow of 9.94 million yuan from institutional investors [3] - Xinhua Jin (600735) saw a net outflow of 6.83 million yuan from institutional investors [3] - Laofengxiang (600612) had a slight net inflow of 0.24 million yuan from retail investors [3] - Zhou Dazheng (002867) experienced a net outflow of 1.02 million yuan from institutional investors but a net inflow of 3.67 million yuan from retail investors [3]

Market Overview - The jewelry sector experienced a decline of 0.5% on August 13, with Mankalon leading the drop [1] - The Shanghai Composite Index closed at 3683.46, up 0.48%, while the Shenzhen Component Index closed at 11551.36, up 1.76% [1] Individual Stock Performance - Feiyada (000026) closed at 21.73, up 1.35% with a trading volume of 685,200 shares and a transaction value of 1.488 billion [1] - Chaohongji (002345) closed at 15.92, up 0.82% with a trading volume of 223,100 shares and a transaction value of 351 million [1] - Laofengxiang (600612) closed at 47.75, up 0.04% with a trading volume of 11,600 shares and a transaction value of 55.34 million [1] - Mankalon (300945) closed at 19.00, down 2.96% with a trading volume of 216,200 shares and a transaction value of 407 million [2] - The overall trading volume and transaction values for various stocks in the jewelry sector indicate mixed performance, with some stocks showing gains while others declined [1][2] Capital Flow Analysis - The jewelry sector saw a net outflow of 391 million from institutional investors, while retail investors contributed a net inflow of 370 million [2][3] - The data indicates that institutional investors are pulling back, while retail investors are increasing their positions in the sector [2][3] Stock-Specific Capital Flow - Laofengxiang (600612) had a net inflow of 8.49 million from institutional investors, but a net outflow from retail investors [3] - Mankalon (300945) experienced a significant net outflow of 31.19 million from institutional investors [3] - The capital flow data suggests varying levels of investor confidence across different stocks within the jewelry sector [3]