证券日报网讯 8月12日晚间，中科三环发布公告称，公司2025年第一次临时股东大会审议通过了《关于 制订和的议案》《关于变更公司董事的议案》。 （文章来源：证券日报） ...

Core Viewpoint - Zhongke Sanhuan (000970.SZ) reported a decline in revenue and net profit for the first half of 2025, indicating potential challenges in its financial performance [1] Financial Performance - The company achieved operating revenue of 2.922 billion yuan, a year-on-year decrease of 11.17% [1] - The net profit attributable to shareholders of the listed company was 43.9931 million yuan [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was 31.594 million yuan [1] - Basic earnings per share were 0.0366 yuan [1]

Core Viewpoint - Zhongke Sanhuan (000970) reported a revenue decline of 11.17% year-on-year for the first half of 2025, but achieved a net profit of 43.99 million yuan, reversing from a loss of 72.34 million yuan in the same period last year [1] Financial Performance - The company achieved operating revenue of 2.922 billion yuan in the first half of 2025, a decrease of 11.17% compared to the previous year [1] - The net profit attributable to shareholders was 43.99 million yuan, compared to a loss of 72.34 million yuan in the same period last year, indicating a turnaround in profitability [1]

中科三环（SZ 000970，收盘价：13.64元）8月12日晚间发布半年度业绩报告称，2025年上半年营业收 入约29.22亿元，同比减少11.17%；归属于上市公司股东的净利润约4399万元；基本每股收益0.0366 元。2024年同期营业收入约32.89亿元；归属于上市公司股东的净利润亏损约7234万元；基本每股收益 亏损0.0595元。 （文章来源：每日经济新闻） ...

北京中科三环高技术股份有限公司 2025 年半年度财务报告 北京中科三环高技术股份有限公司 2025 年半年度财务报告 【2025-08】 1 北京中科三环高技术股份有限公司 2025 年半年度财务报告 北京中科三环高技术股份有限公司 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。 二、财务报表 财务附注中报表的单位为：元 1、合并资产负债表 编制单位：北京中科三环高技术股份有限公司 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 | 1,952,075,458.94 | 2,459,210,121.86 | | 结算备付金 | 0.00 | 0.00 | | 拆出资金 | 0.00 | 0.00 | | 交易性金融资产 | 230,416,500.00 | 50,357,994.46 | | 衍生金融资产 | 0.00 | 0.00 | | 应收票据 | 14,740,740.85 | 18,360,064.95 | | 应收账款 ...

2025 半年度非经营性资金占用及其他关联资金往来情况汇总表 编制单位：北京中科三环高技术股份有限公司 单位：人民币万元 | 非经营性资金占用 | 资金占用方名称 | 占用方与上市公司的 | 上市公司核 | 2025 年期初占 | 2025 | 半年度占用累计 | 2025 半年度占 | 2025 半年度偿还 | 2025 | 半年期 | 占用形成 | 占用性质 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | 关联关系 | 算的会计科 | 用资金余额 | | 发生金额（不含利 | 用资金的利息 | 累计发生金额 | | 末占用资金 | 原因 | | | | | | 目 | | 息） | | （如有） | | | 余额 | | | | 控股股东、实际控制人及 | | | | | | | | | | | | | | 其附属企业 | | | | | | | | | | | | | | 小计 | | | | | | | | | | | | - | | 前控股股东、实际控制人 | | | | ...

证券代码：000970 证券简称：中科三环 公告编号：2025-036 北京中科三环高技术股份有限公司 第九届董事会第十次会议决议公告 二、董事会会议审议情况 会议审议通过了如下议案： 1、公司 2025 年半年度报告全文及摘要； 表决结果：9 票同意、0 票反对、0 票弃权。 本公司及其董事会全体成员保证信息披露内容的真实、准确和完整，没有虚 假记载、误导性陈述或重大遗漏。 一、董事会会议召开情况 1、北京中科三环高技术股份有限公司（以下简称"公司"或"本公司"） 第九届董事会第十次会议通知于2025年8月1日以电子邮件等方式发送至全体董 事。 2、本次会议于2025年8月12日在北京以"现场+视频"会议的方式召开。 3、本次会议应出席的董事9名，实际出席会议的董事8名，董事钟慧静女士 因工作原因无法出席本次会议，委托董事长赵寅鹏先生进行表决。 4、本次会议由董事长赵寅鹏先生主持，监事和高级管理人员列席了会议。 5、本次董事会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。 具体内容详见同日刊登在《证券时报》、《中国证券报》、《证券日报》和巨潮 资讯网（http://www.cni ...

一、董事会会议召开情况 1、北京中科三环高技术股份有限公司（以下简称"公司"）第九届董事会2025年 第四次临时会议通知于2025年8月7日以电子邮件等方式发送至全体董事。 北京中科三环高技术股份有限公司 第九届董事会 2025 年第四次临时会议决议公告 本公司及其董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假记 载、误导性陈述或重大遗漏。 2、本次会议于2025年8月12日在北京以"现场+视频"会议的方式召开。 3、本次会议应出席的董事9名，实际出席会议的董事8名，董事钟慧静女士因工作 原因无法出席本次会议，委托董事长赵寅鹏先生进行表决。 4、本次会议由公司董事长兼代理总裁赵寅鹏先生主持，监事和高级管理人员列席 了会议。 证券代码：000970 证券简称：中科三环 公告编号：2025-040 5、本次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 会议审议通过了以下议案： 1、关于补选董事会战略委员会委员的议案 同意补选栗博先生为第九届董事会战略委员会委员，任期自第九届董事会2025年 第四次临时会议审议通过之日起至第九届董事会任期届满之日止。 ...

每经头条（nbdtoutiao）——未收车就要结清20多万元尾款，否则5000元定金作废？小米汽车知情人 士：涉及两种特殊情况；律师解读→ （记者 王晓波） 每经AI快讯，中科三环（SZ 000970，收盘价：13.64元）8月12日晚间发布公告称，公司第九届2025年 第四次董事会会议于2025年8月12日在北京以"现场+视频"会议的方式召开。会议审议了《关于补选董事 会战略委员会委员的议案》等文件。 2025年1至6月份，中科三环的营业收入构成为：制造业占比95.18%，其他业务占比4.82%。 截至发稿，中科三环市值为166亿元。 ...

[Important Notice, Table of Contents, and Definitions](index=2&type=section&id=Section%201%20Important%20Notice%2C%20Table%20of%20Contents%2C%20and%20Definitions) This section provides crucial disclaimers, outlines the report's structure, and defines key terms for clarity [Important Notice](index=2&type=section&id=Important%20Notice) 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 - The company explicitly identified eight major operating risks, including: downstream market demand fluctuation, export control policy impact, raw material supply, raw material price fluctuation, intensified market competition, exchange rate fluctuation, forward foreign exchange settlement and sales business, and dependence on international markets[5](index=5&type=chunk) - The company plans no cash dividends, bonus shares, or capital increase from capital reserves for the 2025 semi-annual period[6](index=6&type=chunk) [Definitions](index=5&type=section&id=Definitions) This section defines the main company entities and abbreviations used in the report, providing a basis for understanding its content [Company Profile and Key Financial Indicators](index=6&type=section&id=Section%202%20Company%20Profile%20and%20Key%20Financial%20Indicators) This section presents the company's fundamental information and a summary of its financial performance during the reporting period [Company Profile](index=6&type=section&id=Company%20Profile) This section provides basic company information, including stock abbreviation 'Zhongke Sanhuan' (code 000970), legal representative, and contact details Company Basic Information | Item | Information | | :--- | :--- | | **Stock Abbreviation** | Zhongke Sanhuan | | **Stock Code** | 000970 | | **Listing Exchange** | Shenzhen Stock Exchange | | **Legal Representative** | Zhao Yinpeng | [Key Accounting Data and Financial Indicators](index=7&type=section&id=Key%20Accounting%20Data%20and%20Financial%20Indicators) During the reporting period, the company's operating revenue decreased by 11.17% year-on-year, but net profit attributable to shareholders turned profitable, increasing by 160.82% Key Financial Indicators for H1 2025 | Indicator | Current Period | Prior Year Period | YoY Change | | :--- | :--- | :--- | :--- | | **Operating Revenue (CNY)** | 2,922,028,115.90 | 3,289,295,266.20 | -11.17% | | **Net Profit Attributable to Shareholders (CNY)** | 43,993,100.00 | -72,337,667.10 | 160.82% | | **Net Cash Flow from Operating Activities (CNY)** | 133,515,707.59 | 767,022,423.16 | -82.59% | | **Basic Earnings Per Share (CNY/share)** | 0.0366 | -0.0595 | 161.51% | | **Weighted Average Return on Net Assets** | 0.68% | -1.10% | 1.78% | | **Total Assets (CNY)** | 9,888,720,562.98 | 10,356,801,171.40 | -4.52% (vs. end of prior year) | | **Net Assets Attributable to Shareholders (CNY)** | 6,460,251,157.05 | 6,439,223,122.22 | 0.33% (vs. end of prior year) | - During the reporting period, the company's total non-recurring gains and losses amounted to **CNY 12.40 million**, primarily from government subsidies[24](index=24&type=chunk) [Management Discussion and Analysis](index=9&type=section&id=Section%203%20Management%20Discussion%20and%20Analysis) This section offers a comprehensive review of the company's operations, core strengths, financial performance, and strategic outlook [Principal Business](index=9&type=section&id=I.%20Principal%20Business%20Activities%20During%20the%20Reporting%20Period) The company's principal business involves R&D, production, and sales of rare earth permanent magnet materials and their applications, widely used in new energy vehicles, consumer electronics, and industrial motors - The company's core products are sintered and bonded NdFeB permanent magnet materials, applied in high-growth sectors such as new energy vehicles, automotive motors, consumer electronics, robotics, and industrial motors[28](index=28&type=chunk) - The company operates on a direct sales model, providing customized products and services based on customer orders[29](index=29&type=chunk) [Analysis of Core Competencies](index=10&type=section&id=II.%20Analysis%20of%20Core%20Competencies) The company's core competencies include industry leadership, comprehensive industrial scale and layout, innovative R&D mechanisms, strong technical and quality assurance, and a unique business model with international advantages Production Capacity | Product Type | Capacity | | :--- | :--- | | **Sintered NdFeB** | 25,000 tons (as of end of 2024) | | **Bonded NdFeB** | 1,500 tons | - The company has established a three-tier sustainable development governance structure and set strategic goals to achieve **peak greenhouse gas emissions within its operational boundaries by 2028** and **carbon neutrality in its own operations by 2050**[47](index=47&type=chunk) [Industry Position and Leadership Role](index=10&type=section&id=2.1%20Industry%20Position%20and%20Leadership%20Role) As a pioneer in China's NdFeB industry, the company possesses deep technological expertise and a leading role, undertaking multiple national-level major scientific research projects [Comprehensive Industrial Scale and Layout](index=10&type=section&id=2.2%20Comprehensive%20Industrial%20Scale%20and%20Layout) The company boasts an annual production capacity of **25,000 tons of sintered NdFeB** and **1,500 tons of bonded NdFeB**, aiming to provide customers with 'one-stop magnetic material solutions' [Innovative R&D Mechanism and Model](index=10&type=section&id=2.3%20Innovative%20R%26D%20Mechanism%20and%20Model) The company has established an efficient, market and customer-oriented innovation organizational structure, with the research institute collaborating with subsidiary R&D teams, focusing on developing high-performance, cost-effective magnets [Technical Advantages and Quality Assurance Capabilities](index=11&type=section&id=2.4%20Technical%20Advantages%20and%20Quality%20Assurance%20Capabilities) The company possesses unique technical advantages across all stages of sintered and bonded magnet production, ensuring excellent product performance, supported by a comprehensive quality assurance system [Business Model and International Competitive Advantage](index=12&type=section&id=2.5%20Business%20Model%20and%20International%20Competitive%20Advantage) Adopting a 'personalized service sales model,' the company collaborates deeply with clients from the design stage, establishing itself as one of the most competitive enterprises in the global high-end NdFeB market [Environmental Protection and Sustainable Development Capabilities](index=12&type=section&id=2.6%20Environmental%20Protection%20and%20Sustainable%20Development%20Capabilities) The company has established a three-tier sustainable development governance structure, set clear carbon peaking and carbon neutrality goals, and reduced carbon emissions through various measures [Raw Material Supply and Strengthening Upstream Extension](index=12&type=section&id=2.7%20Raw%20Material%20Supply%20and%20Strengthening%20Upstream%20Extension) The company has secured a stable raw material supply advantage by investing in upstream rare earth raw material enterprises and signing strategic cooperation agreements with partners [Analysis of Principal Business](index=13&type=section&id=III.%20Analysis%20of%20Principal%20Business) In H1 2025, the company's operating revenue decreased by 11.17% year-on-year to **CNY 2.92 billion**, but net profit attributable to shareholders significantly increased by 160.82%, turning profitable Key Financial Data Year-on-Year Changes | Item | Current Period (CNY) | YoY Change | Reason for Change | | :--- | :--- | :--- | :--- | | **Operating Revenue** | 2,922,028,115.90 | -11.17% | - | | **Net Profit Attributable to Parent** | 43,993,100.00 | 160.82% | - | | **Financial Expenses** | -62,704,481.90 | -7,046.70% | Primarily due to increased net exchange gains | | **Income Tax Expense** | 52,108,971.66 | 342.19% | Primarily due to increased total profit | | **Net Cash Flow from Operating Activities** | 133,515,707.59 | -82.59% | Primarily due to decreased cash received from sales of goods | Operating Revenue Composition (by Region) | Region | Current Period Amount (CNY) | Proportion of Operating Revenue | YoY Change | | :--- | :--- | :--- | :--- | | **Domestic** | 1,535,289,755.58 | 52.54% | 14.55% | | **International** | 1,386,738,360.32 | 47.46% | -28.85% | [Analysis of Assets and Liabilities](index=14&type=section&id=V.%20Analysis%20of%20Assets%20and%20Liabilities) As of the end of the reporting period, the company's total assets were **CNY 9.89 billion**, a 4.52% decrease from the end of the previous year, with some assets pledged for bank loans - As of the end of the reporting period, the company's total assets were **CNY 9.89 billion**, a 4.52% decrease from the end of the previous year; net assets attributable to shareholders were **CNY 6.46 billion**, a 0.33% increase from the end of the previous year[51](index=51&type=chunk) - Some of the company's assets are restricted, including **CNY 34.89 million** in restricted cash and cash equivalents, and certain fixed assets (net value **CNY 289 million**) and intangible assets (net value **CNY 19.61 million**) of subsidiary Tianjin Sanhuan Lexi New Materials Co., Ltd. pledged for bank loans[61](index=61&type=chunk)[62](index=62&type=chunk) [Analysis of Investment Status](index=16&type=section&id=VI.%20Analysis%20of%20Investment%20Status) During the reporting period, the company's investment amounted to **CNY 69.79 million**, a 41.78% year-on-year decrease, with no significant equity or securities investments - The company conducted forward foreign exchange settlement for hedging purposes to mitigate the impact of significant exchange rate fluctuations, resulting in a loss of **CNY 0.26 million** from delivered contracts during the reporting period[66](index=66&type=chunk) [Analysis of Major Holding and Participating Companies](index=18&type=section&id=VIII.%20Analysis%20of%20Major%20Holding%20and%20Participating%20Companies) The report details the operating performance of major subsidiaries, with Ningbo Konit Industrial Co., Ltd. and Ningbo Sanhuan Magnetic Sound Industry and Trade Co., Ltd. being primary profit contributors Operating Performance of Major Subsidiaries (H1 2025) | Company Name | Operating Revenue (CNY) | Net Profit (CNY) | | :--- | :--- | :--- | | **Ningbo Konit Industrial Co., Ltd.** | 790,594,410.90 | 36,594,183.55 | | **Tianjin Sanhuan Lexi New Materials Co., Ltd.** | 1,145,012,903.27 | -6,995,847.46 | | **Sanhuan Wacker Chemical (Beijing) Magnetic Devices Co., Ltd.** | 65,444,313.46 | -22,621,144.70 | | **Ningbo Sanhuan Magnetic Sound Industry and Trade Co., Ltd.** | 1,103,817,781.18 | 60,293,219.16 | | **Zhongke Sanhuan (Ganzhou) New Materials Co., Ltd.** | 16,121,682.03 | -18,628,149.82 | [Risks Faced by the Company and Countermeasures](index=19&type=section&id=X.%20Risks%20Faced%20by%20the%20Company%20and%20Countermeasures) The company faces eight major risks, including high dependence on international markets, changes in export control policies, and raw material price volatility - As an export-oriented enterprise with a high proportion of exports, the company is highly dependent on international markets and significantly affected by international political and economic situations, trade frictions, and China's export policies[30](index=30&type=chunk)[75](index=75&type=chunk) - In response to the national export controls on medium and heavy rare earth-related items implemented in April 2025, the company established an emergency working group, built a compliance management mechanism, and successfully obtained relevant export permits to ensure legal and compliant export operations[76](index=76&type=chunk) [Corporate Governance, Environment, and Society](index=21&type=section&id=Section%204%20Corporate%20Governance%2C%20Environment%2C%20and%20Society) This section details changes in the company's governance structure, environmental commitments, and social responsibilities [Changes in the Company's Directors, Supervisors, and Senior Management](index=21&type=section&id=Changes%20in%20the%20Company%27s%20Directors%2C%20Supervisors%2C%20and%20Senior%20Management) During the reporting period, there was a change in the company's independent directors; Mr. Shen Baogen resigned due to regulations, and Mr. Sun Jirong was elected as the new independent director - On April 9, 2025, independent director Shen Baogen resigned due to regulations on concurrent positions for Chinese Academy of Sciences academicians, and Sun Jirong was elected as the new independent director[86](index=86&type=chunk) [Environmental Information Disclosure Status](index=21&type=section&id=Environmental%20Information%20Disclosure%20Status) The company and its three major subsidiaries (Tianjin Sanhuan Lexi, Shanghai Sanhuan Magnetic Materials, and Zhongke Sanhuan (Ganzhou)) are all included in the list of enterprises required to disclose environmental information by law - The company and three subsidiaries are included in the list of enterprises required to disclose environmental information by law, with inquiry indexes provided[89](index=89&type=chunk) [Significant Matters](index=22&type=section&id=Section%205%20Significant%20Matters) This section highlights major events and transactions, including related party dealings and guarantees, impacting the company's operations [Significant Related Party Transactions](index=23&type=section&id=Significant%20Related%20Party%20Transactions) During the reporting period, the company's related party transactions primarily involved purchases and sales related to ordinary operations, all within estimated limits and following market pricing principles Major Ordinary Related Party Transactions (H1 2025) | Related Party | Transaction Type | Transaction Content | Transaction Amount (CNY 10,000) | | :--- | :--- | :--- | :--- | | **Ganzhou Keli Rare Earth New Materials Co., Ltd.** | Purchase | Purchase of Rare Earth Materials | 30,909.46 | | **Fuzhou Taiquan Industrial Co., Ltd.** | Sale | Sale of Magnetic Material Products | 4,363.18 | | **Jiangxi Southern Rare Earth High-Tech Co., Ltd.** | Purchase | Purchase of Rare Earth Materials | 1,297.07 | [Significant Guarantees](index=26&type=section&id=Significant%20Guarantees) The company had no external guarantees during the reporting period, primarily providing guarantees for its subsidiaries, with a total actual guarantee balance of **CNY 820 million** - As of the end of the reporting period, the company's total actual guarantee amount was **CNY 820 million**, all for subsidiaries, accounting for **12.69%** of the company's net assets[115](index=115&type=chunk) [Share Changes and Shareholder Information](index=30&type=section&id=Section%206%20Share%20Changes%20and%20Shareholder%20Information) This section provides an overview of the company's share capital structure and details regarding its major shareholders [Share Change Status](index=30&type=section&id=Share%20Change%20Status) During the reporting period, the company's total share capital remained unchanged at **1,215,725,773 shares**, all of which are unrestricted shares [Company Shareholder Numbers and Shareholding Status](index=31&type=section&id=Company%20Shareholder%20Numbers%20and%20Shareholding%20Status) As of the end of the reporting period, the total number of common shareholders was **99,431**, with Beijing Sanhuan Holding Co., Ltd. being the largest shareholder with **23.35%** of shares Top Five Shareholders' Shareholding Status | Shareholder Name | Shareholding Percentage | Number of Shares Held | | :--- | :--- | :--- | | **Beijing Sanhuan Holding Co., Ltd.** | 23.35% | 283,881,263 | | **TRIDUS INTERNATIONAL INC** | 3.76% | 45,750,000 | | **TAIGENE METAL COMPANY L.L.C** | 3.31% | 40,231,812 | | **Hong Kong Securities Clearing Company Limited** | 2.05% | 24,948,069 | | **CAS Industrial Group (Holdings) Co., Ltd.** | 1.21% | 14,699,886 | [Bond-Related Information](index=34&type=section&id=Section%207%20Bond-Related%20Information) The company had no bond-related information during this reporting period [Financial Report](index=35&type=section&id=Section%208%20Financial%20Report) This section contains the complete set of unaudited financial statements and detailed notes, offering a comprehensive view of the company's financial health [Financial Statements](index=35&type=section&id=Financial%20Statements) This section provides the company's unaudited consolidated and parent company financial statements, including the balance sheet, income statement, cash flow statement, and statement of changes in owners' equity [Notes to Consolidated Financial Statement Items](index=77&type=section&id=Notes%20to%20Consolidated%20Financial%20Statement%20Items) This section provides detailed notes on key items in the consolidated financial statements, including cash and cash equivalents, accounts receivable, and inventory - Period-end cash and cash equivalents balance was **CNY 1.95 billion**, of which **CNY 34.89 million** was restricted due to deposits, special funds, and other reasons[316](index=316&type=chunk)[461](index=461&type=chunk) - Period-end book value of accounts receivable was **CNY 1.86 billion**, with the aggregate balance from the top five customers by outstanding amount accounting for **35.13%** of the total[333](index=333&type=chunk)[345](index=345&type=chunk) - Period-end inventory book value was **CNY 2.80 billion**, including **CNY 776 million** in raw materials, **CNY 956 million** in work-in-progress, and **CNY 554 million** in finished goods, with total impairment provisions amounting to **CNY 119 million**[386](index=386&type=chunk)[388](index=388&type=chunk) [Supplementary Information](index=158&type=section&id=Supplementary%20Information) This section provides supplementary financial information, including details of non-recurring gains and losses, return on net assets, and earnings per share Details of Non-Recurring Gains and Losses for the Current Period | Item | Amount (CNY) | | :--- | :--- | | Non-current asset disposal gains/losses | -310,087.32 | | Government subsidies recognized in current profit/loss | 19,369,525.01 | | Gains/losses from changes in fair value and disposal of financial assets/liabilities | 1,277,070.38 | | Other non-operating income and expenses | -29,857.53 | | Other income/loss items meeting the definition of non-recurring gains/losses | 1,866,770.28 | | Less: Income tax impact | 4,901,997.05 | | Less: Impact on minority interests (After Tax) | 4,872,284.36 | | **Total** | **12,399,139.41** | Return on Net Assets and Earnings Per Share | Profit for the Reporting Period | Weighted Average Return on Net Assets | Basic Earnings Per Share (CNY/share) | | :--- | :--- | :--- | | **Net Profit Attributable to Ordinary Shareholders of the Company** | 0.68% | 0.0366 | | **Net Profit Attributable to Ordinary Shareholders of the Company After Deducting Non-Recurring Gains and Losses** | 0.49% | 0.0263 | [Other Submitted Data](index=160&type=section&id=Section%209%20Other%20Submitted%20Data) This section includes additional information, such as investor relations activities, not covered in the main financial or operational sections [Registration Form for Investor Research, Communication, Interview, and Other Activities During the Reporting Period](index=160&type=section&id=Registration%20Form%20for%20Investor%20Research%2C%20Communication%2C%20Interview%2C%20and%20Other%20Activities%20During%20the%20Reporting%20Period) During the reporting period, the company engaged in **8 investor relations activities** through various channels, primarily focusing on the company's production and operational status - The company conducted **8 investor relations activities** during the reporting period, primarily engaging institutional investors through phone calls, on-site visits, and online platform communication[713](index=713&type=chunk)