Core Viewpoint - The company reported a slight increase in revenue but a significant decline in net profit for the first half of 2025 [1] Financial Performance - The company achieved operating revenue of 124 million yuan, representing a year-on-year growth of 0.44% [1] - The net profit attributable to shareholders was 19.26 million yuan, showing a year-on-year decrease of 34.87% [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was 14.78 million yuan, down 48.63% year-on-year [1] - Basic earnings per share were reported at 0.30 yuan [1]

法定代表人: 主管会计工作的负责人: 非经营性资金占用及其他关联资金往来情况汇总表 会计机构负责人 2025年1-6月 | 编制单位: 杭州科泰机电股份有限公司 | ﺍﻟﻤﺴﺘﻮﻯ ﺍﻟﻤﺴﺎﻋﺪ ﺍﻟﻤﺴﺎﺣﺔ ﺍﻟﻤﺴﺘﻮﻯ ﺍﻟﻤﺴﺘﻮﻯ ﺍﻟﻤﺴﺘﻮﻯ ﺍﻟﻤﺴﺘﻮﻯ ﺍﻟﻤﺴﺘﻮﻯ ﺍﻟﻤﺴﺘﻮﻯ ﺍﻟﻤﺴﺘﻮﻯ ﺍﻟﻤﺴﺘﻮﻯ ﺍﻟﻤﺴﺘﻮﻯ ﺍﻟﻤﺴﺘﻮﻯ ﺍﻟﻤﺴﺘﻮﻯ ﺍﻟﻤﺴﺘﻮﻯ ﺍﻟﻤﺴﺘﻮﻯ ﺍﻟﻤﺴﺘﻮﻯ ﺍﻟﻤﺴﺘﻮﻯ ﺍﻟﻤﺴﺘﻮﻯ ﺍﻟﻤﺴﺎﻋﺪ ﺍﻟﻤﺴﺎﺣﺔ ﺍﻟﻤﺴﺎ | | | | | | | | | 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 | 上市公司核算的 | 2025年期初 | 2025年1-6月占用紧 | 2025年1-6月占 | 2025年1-6月偿还累计发 | 2025年6月末 | | | | | | 司的关联关系 | 会计科目 | 占用资金余额 | 计发生金额 (不含利息) | ...

杭州和泰机电股份有限公司 2025 年半年度财务报告 杭州和泰机电股份有限公司 2025 年半年度财务报告 2025 年 8 月 1 杭州和泰机电股份有限公司 2025 年半年度财务报告 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：杭州和泰机电股份有限公司 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 | 145,019,040.34 | 568,626,827.23 | | 结算备付金 | | | | 拆出资金 | | | | 交易性金融资产 | 422,032,354.71 | 141,041,882.44 | | 衍生金融资产 | | | | 应收票据 | | | | 应收账款 | 30,422,008.34 | 24,950,684.31 | | 应收款项融资 | 4,163,287.17 | 9,364,886.28 | | 预付款项 | 1,76 ...

证券代码：001225 证券简称：和泰机电 公告编号：2025-034 杭州和泰机电股份有限公司 第二届监事会第九次会议决议公告 本公司及监事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、 误导性陈述或重大遗漏。 一、监事会会议召开情况 1、杭州和泰机电股份有限公司（以下简称"公司"）第二届监事会第九次会议通 知于 2025 年 8 月 11 日以电子邮件、微信等方式送达公司全体监事。 3、本次会议应出席监事 3 人，实际出席监事 3 人。 4、会议由监事会主席倪慧娟女士召集和主持，董事会秘书列席了本次会议。 5、本次会议的召集、召开及表决程序符合《中华人民共和国公司法》等法律、法 规、规范性文件以及《公司章程》的有关规定，会议合法、有效。 二、监事会会议审议情况 会议审议并通过了如下议案： 1、以 3 票同意、0 票反对、0 票弃权，审议并通过《<2025 年半年度报告>全文及 其摘要》 经审核，监事会认为：董事会编制和审核的《2025 年半年度报告》及《2025 年半 年度报告摘要》的程序符合法律、行政法规和中国证监会的规定，报告内容真实、准确、 完整地反映了上市公司的实际情况，不存在任何虚 ...

证券代码：001225 证券简称：和泰机电 公告编号：2025-033 杭州和泰机电股份有限公司 3、本次会议应出席董事 7 人，实际出席董事 7 人。其中董事姚明龙先生、韩灵丽 女士、傅建中先生以通讯表决方式出席会议。 4、会议由董事长童建恩先生召集和主持，公司全体监事、高级管理人员列席了本 次会议。 5、本次会议的召集、召开及表决程序符合《中华人民共和国公司法》等法律、法 规、规范性文件以及《公司章程》的有关规定，会议合法、有效。 二、董事会会议审议情况 会议审议并通过了如下议案： 1、以 7 票同意、0 票反对、0 票弃权，审议并通过《<2025 年半年度报告>全文及 其摘要》 第二届董事会第九次会议决议公告 本公司及董事会全体成员保证信息披露的内容真实、准确、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、杭州和泰机电股份有限公司（以下简称"公司"）第二届董事会第九次会议通 知于 2025 年 8 月 11 日以电子邮件、微信等方式送达公司全体董事。 2、本次会议于 2025 年 8 月 21 日在公司会议室采取现场结合通讯表决方式召开。 公司《2025 年半年度报告》及《2 ...

和泰机电公告，2025年上半年营业收入1.24亿元，同比增长0.44%。净利润1926.36万元，同比下降 34.87%。公司计划不派发现金红利，不送红股，不以公积金转增股本。 ...

[Section I Important Notes, Table of Contents, and Definitions](index=2&type=section&id=Section%20I%20Important%20Notes%2C%20Table%20of%20Contents%2C%20and%20Definitions) This section provides crucial information, including the report's table of contents and definitions, ensuring clarity and transparency [Important Notes](index=2&type=section&id=Important%20Notes) The Board of Directors, Supervisory Board, and senior management declare the semi-annual report's content is true, accurate, and complete, free from false records, misleading statements, or major omissions, with financial report authenticity guaranteed by key personnel. The company faces risks including changes in downstream industry, raw material price fluctuations, declining gross margins, project implementation, capacity digestion, and production safety, with no plans for semi-annual cash dividends, bonus shares, or capital reserve conversions - The company's Board of Directors, Supervisory Board, and senior management guarantee the semi-annual report's content is true, accurate, and complete, free from false records, misleading statements, or major omissions[4](index=4&type=chunk) - The company primarily faces risks such as changes in the downstream industry operating environment, raw material price fluctuations, declining gross margins, implementation of fundraising projects, digestion of new capacity from fundraising projects, and production safety[4](index=4&type=chunk) - The company plans not to distribute cash dividends, send bonus shares, or convert capital reserves into share capital for the semi-annual period[5](index=5&type=chunk) [Table of Contents](index=3&type=section&id=Table%20of%20Contents) This section presents the complete report directory structure, including nine main chapters and their corresponding starting page numbers, providing investors with quick navigation of the report content Report Chapter Directory | Chapter | Title | Page Number | | :--- | :--- | :--- | | Section I | Important Notes, Table of Contents, and Definitions | 2 | | Section II | Company Profile and Key Financial Indicators | 6 | | Section III | Management Discussion and Analysis | 9 | | Section IV | Corporate Governance, Environment, and Society | 27 | | Section V | Significant Matters | 29 | | Section VI | Share Changes and Shareholder Information | 35 | | Section VII | Bond-Related Information | 39 | | Section VIII | Financial Report | 40 | | Section IX | Other Submitted Data | 120 | [List of Reference Documents](index=4&type=section&id=List%20of%20Reference%20Documents) This section provides a list of the company's reference documents for the reporting period, including signed and sealed financial statements, original copies of all company documents and announcements publicly disclosed on the CSRC-designated website, and the original semi-annual report text, ensuring complete and traceable information disclosure - Reference documents include financial statements signed and sealed by the company's legal representative, chief financial officer, and head of accounting department[9](index=9&type=chunk) - Reference documents include original copies of all company documents and announcements publicly disclosed on the CSRC-designated website during the reporting period[10](index=10&type=chunk) - Reference documents include the original text of the 2025 semi-annual report signed by the company's legal representative[11](index=11&type=chunk) [Definitions](index=5&type=section&id=Definitions) This section defines key terms used in the report, covering company names, controlling shareholders, subsidiaries, product types, industry terms, and certification standards, to ensure clear understanding of the report content - "Hetaichain Electromechanical" refers to Hangzhou Hetaichain Electromechanical Co., Ltd., primarily engaged in material handling equipment[13](index=13&type=chunk) - "Bucket elevator" is a continuous conveying equipment that uses buckets to vertically lift materials, categorized into chain, plate chain, and belt types[13](index=13&type=chunk) - "Reporting period" refers to January 1, 2025, to June 30, 2025[13](index=13&type=chunk) [Section II Company Profile and Key Financial Indicators](index=6&type=section&id=Section%20II%20Company%20Profile%20and%20Key%20Financial%20Indicators) This section outlines the company's fundamental information and presents key financial performance metrics for the reporting period [1. Company Profile](index=6&type=section&id=1.%20Company%20Profile) This section introduces the company's basic information, including stock ticker, code, listing exchange, Chinese and English names and abbreviations, and legal representative Tong Jianen, also confirming no changes in contact information, information disclosure, and document storage locations during the reporting period Company Basic Information | Indicator | Content | | :--- | :--- | | Stock Abbreviation | Hetaichain Electromechanical | | Stock Code | 001225 | | Listed Stock Exchange | Shenzhen Stock Exchange | | Chinese Name | 杭州和泰机电股份有限公司 | | Legal Representative | Tong Jianen | - The company's contact information, information disclosure, and document storage locations remained unchanged during the reporting period, as detailed in the 2024 annual report[17](index=17&type=chunk)[18](index=18&type=chunk) [4. Key Accounting Data and Financial Indicators](index=7&type=section&id=4.%20Key%20Accounting%20Data%20and%20Financial%20Indicators) During this reporting period, the company's operating revenue slightly increased by 0.44% to **RMB 123.52 million**, but net profit attributable to shareholders significantly decreased by 34.87% to **RMB 19.26 million**, with non-recurring net profit down 48.63%, and net cash flow from operating activities decreasing by 52.81%, while total assets and net assets attributable to shareholders also declined, with no retrospective adjustments or restatements of prior-year accounting data Key Accounting Data and Financial Indicators (Year-on-Year Change) | Indicator | Current Reporting Period (RMB) | Prior Year Period (RMB) | Year-on-Year Change (%) | | :--- | :--- | :--- | :--- | | Operating Revenue | 123,516,829.59 | 122,975,544.77 | 0.44% | | Net Profit Attributable to Shareholders of Listed Company | 19,263,583.63 | 29,577,133.47 | -34.87% | | Net Profit Attributable to Shareholders of Listed Company (Excluding Non-Recurring Gains and Losses) | 14,776,508.78 | 28,764,868.58 | -48.63% | | Net Cash Flow from Operating Activities | 18,774,211.71 | 39,782,291.05 | -52.81% | | Basic Earnings Per Share (RMB/share) | 0.30 | 0.46 | -34.78% | | Diluted Earnings Per Share (RMB/share) | 0.30 | 0.46 | -34.78% | | Weighted Average Return on Net Assets | 1.35% | 2.06% | -0.71% | | **Period-End Indicators** | **Current Period-End (RMB)** | **Prior Year-End (RMB)** | **Change from Prior Year-End (%)** | | Total Assets | 1,511,242,842.29 | 1,561,924,146.98 | -3.24% | | Net Assets Attributable to Shareholders of Listed Company | 1,367,242,548.36 | 1,426,289,083.84 | -4.14% | - The company's financial reports for the reporting period show no differences in net profit and net assets between International Accounting Standards and Chinese Accounting Standards[21](index=21&type=chunk)[22](index=22&type=chunk) [6. Non-Recurring Gains and Losses Items and Amounts](index=7&type=section&id=6.%20Non-Recurring%20Gains%20and%20Losses%20Items%20and%20Amounts) Total non-recurring gains and losses for this reporting period amounted to **RMB 4.49 million**, primarily from disposal of fixed assets, government grants, fair value changes and disposal gains from wealth management products, after deducting charitable fund donations and income tax effects Non-Recurring Gains and Losses Items and Amounts | Item | Amount (RMB) | Explanation | | :--- | :--- | :--- | | Gains/Losses on Disposal of Non-Current Assets | 172,630.88 | Disposal of fixed assets | | Government Grants Included in Current Profit or Loss | 1,076,774.12 | Government grants | | Gains/Losses from Fair Value Changes of Financial Assets and Liabilities and Disposal Gains/Losses | 3,096,672.25 | Fair value change gains from wealth management products | | Gains/Losses from Entrusted Investments or Asset Management | 1,381,217.52 | Gains from disposal of wealth management products | | Other Non-Operating Income and Expenses | -202,804.91 | Primarily donation expenses for endowed charitable funds | | Less: Income Tax Impact | 1,037,415.01 | | | Total | 4,487,074.85 | | - The company has no other profit or loss items that meet the definition of non-recurring gains and losses, nor does it classify non-recurring gains and losses as recurring gains and losses[25](index=25&type=chunk) [Section III Management Discussion and Analysis](index=9&type=section&id=Section%20III%20Management%20Discussion%20and%20Analysis) This section provides a comprehensive analysis of the company's operations, financial condition, and future outlook [1. Main Business Activities During the Reporting Period](index=9&type=section&id=1.%20Main%20Business%20Activities%20During%20the%20Reporting%20Period) The company primarily engages in R&D, design, manufacturing, and sales of material handling equipment, serving industries like cement, ports, steel, chemicals, coal, and power, with the industry transitioning towards intelligence and green practices, offering eco-friendly and efficient bulk material handling solutions through a "make-to-order" direct sales model - The company's main business involves the R&D, design, manufacturing, and sales of material handling equipment, widely used in industries such as cement and building materials, ports, steel, chemicals, coal, and power[27](index=27&type=chunk) - National policies such as the "Implementation Plan for Promoting Equipment Upgrades in the Industrial Sector" and the "Notice on Intensifying and Expanding Large-Scale Equipment Upgrades and Trade-in Policies in 2025" are expected to bring more market opportunities to the material handling equipment manufacturing industry[29](index=29&type=chunk) - The company's main products include plate chain bucket elevators, belt bucket elevators, and various other series of conveying equipment and their accessories, as well as SCD chain bucket conveyors, FU chain conveyors, and MSR buried scraper conveyors[30](index=30&type=chunk)[39](index=39&type=chunk) - The company's business model remained unchanged, primarily adopting a "make-to-order" independent production model, supplemented by outsourcing a small number of non-core processes, and serving end-customers and non-end-customers through a direct sales model[40](index=40&type=chunk)[42](index=42&type=chunk)[44](index=44&type=chunk) [(I) Development Status of the Conveying Equipment Manufacturing Industry](index=9&type=section&id=(I)%20Development%20Status%20of%20the%20Conveying%20Equipment%20Manufacturing%20Industry) China's conveying equipment manufacturing industry is rapidly developing, with leading domestic enterprises in vertical lifting matching international technical standards and actively expanding overseas, driven by supply-side reform and green development, the industry is moving towards intelligent and information-based transformation, with market share consolidating among major brands, supported by national policies for equipment upgrades and industrial transformation - China's conveying equipment manufacturing industry is developing rapidly, with leading domestic enterprises in the vertical lifting segment showing no significant difference from foreign products and continuously expanding into overseas markets[27](index=27&type=chunk) - Material handling equipment has become an important component of automated production lines, and the industry is undergoing intelligent and information-based transformation by introducing industrial robots and "Internet of Things" technology[28](index=28&type=chunk) - The issuance of policies such as the "Implementation Plan for Promoting Equipment Upgrades in the Industrial Sector" and the "Notice on Intensifying and Expanding Large-Scale Equipment Upgrades and Trade-in Policies in 2025" is expected to bring more market opportunities to the material handling equipment manufacturing industry[29](index=29&type=chunk) [(II) Company's Main Products](index=9&type=section&id=(II)%20Company's%20Main%20Products) The company's main products include plate chain bucket elevators, belt bucket elevators, and their wear parts (chains, buckets, steel cord belts), as well as other conveyors like SCD chain bucket conveyors, FU chain conveyors, and MSR buried scraper conveyors, with plate chain elevators suitable for high temperature and large capacity, and belt elevators offering higher lift and lower power consumption but temperature-limited, while wear parts, especially chains, are core products with a 2-3 year lifespan - The company's main products include plate chain bucket elevators, belt bucket elevators, and various other series of conveying equipment and their accessories, widely used in multiple industries such as cement and building materials, ports, steel, and chemicals[30](index=30&type=chunk) - Plate chain bucket elevators use steel chains as traction components, featuring large conveying capacity, strong durability, and high lifting height, capable of lifting materials with temperatures not exceeding 250℃[32](index=32&type=chunk) - Belt bucket elevators use heat-resistant, high-strength steel cord rubber belts as traction components, capable of lifting materials up to 150m, with low power consumption and stable operation, but generally used for materials below 150℃[35](index=35&type=chunk) - Chains, buckets, and steel cord belts are wear parts with a typical lifespan of 2-3 years and high replacement frequency, with chains being the company's core product[37](index=37&type=chunk) [(III) Company's Main Business Model](index=12&type=section&id=(III)%20Company's%20Main%20Business%20Model) The company's business model remained unchanged during the reporting period, primarily adopting inquiry and tender procurement for raw materials and components, a "make-to-order" production model with in-house core processes and outsourced non-core processes, and a direct sales model serving major domestic cement producers and non-end customers - The company's procurement model primarily uses inquiry and tender procurement methods, establishing good cooperative relationships with numerous high-quality suppliers, ensuring stable supply channels[41](index=41&type=chunk) - The company's production and operation primarily adopt a "make-to-order" model, scheduling production based on contract technical solutions, with core processes produced in-house and a small number of non-core processes outsourced[42](index=42&type=chunk)[43](index=43&type=chunk) - The company conducts sales through a direct sales model, with customers mainly divided into end-customers (e.g., Hongshi Group, China Resources Cement) and non-end-customers (e.g., China National Materials International Engineering Co., Ltd.)[44](index=44&type=chunk) [(IV) Company's Industry Position](index=13&type=section&id=(IV)%20Company's%20Industry%20Position) The company is a leading domestic material handling equipment manufacturer, recognized as a National High-tech Enterprise and Zhejiang "Specialized, Refined, Unique, and New" SME, with a provincial-level enterprise technology center, boasting over thirty years of industry experience, a strong reputation, "Zhejiang Famous Brand Product" status, and over a decade as a "Top 100 Supplier in China's Cement Industry," actively expanding into overseas markets with CE and ATEX certifications, serving clients across Southeast Asia, the Middle East, Africa, and the Americas - The company is a National High-tech Enterprise and a Zhejiang "Specialized, Refined, Unique, and New" SME, one of the leading domestic material handling equipment manufacturers, and possesses a Zhejiang provincial-level enterprise technology center[45](index=45&type=chunk) - The company's products have been successively recognized as "Zhejiang Famous Brand Products," with major customers including China National Building Material Group, Hongshi Group, and China Resources Cement, all well-known domestic cement producers[45](index=45&type=chunk) - The company has been rated as a "Top 100 Supplier in China's Cement Industry" for over ten consecutive years, and has obtained product certifications such as CE certification and ATEX explosion-proof certification, with customers spanning Southeast Asia, the Middle East, Africa, and the Americas[45](index=45&type=chunk) - During the reporting period, Hetaichain Conveying was recognized as one of the "First Batch of Zhejiang Province Specialized, Refined, Unique, and New SMEs in 2025"[47](index=47&type=chunk) [(V) Analysis of Operating Performance](index=13&type=section&id=(V)%20Analysis%20of%20Operating%20Performance) In the first half of 2025, influenced by contracting demand in the downstream cement industry and intensified market competition, the company's operating revenue increased by 0.44% to **RMB 123.52 million**, but gross margin declined, coupled with increased depreciation and energy costs from the Hetaichain Intelligent Factory, and reduced cash management and interest income, leading to a 34.87% year-on-year decrease in net profit attributable to shareholders to **RMB 19.26 million**, which the company is actively addressing through market expansion, diversification, smart manufacturing transformation, lean production, R&D innovation, and talent management - In the first half of 2025, the company's operating revenue was **RMB 123.5168 million**, a year-on-year increase of 0.44%; net profit attributable to shareholders of the listed company was **RMB 19.2636 million**, a year-on-year decrease of 34.87%[48](index=48&type=chunk) - The decline in net profit was primarily due to intensified market competition caused by contracting demand in the cement industry, a decrease in gross margin, increased expenses such as equipment depreciation and energy consumption after the Hetaichain Intelligent Factory commenced operations, and a year-on-year decrease in cash management income and interest income[48](index=48&type=chunk) - The company actively expanded market areas and deepened its diversification strategy, successfully developing new customers in industries such as chemicals and grain, and actively expanding into overseas markets[49](index=49&type=chunk)[50](index=50&type=chunk) - The company accelerated its intelligent manufacturing transformation, with automated production lines for roller sleeves and other components officially put into operation at the Yinong factory, optimized AGV intelligent distribution system, and initiated a transition from a "make-to-order" to a "standard product safety stock" model[51](index=51&type=chunk) - The company continuously optimized product processes and enhanced R&D innovation capabilities, adding **15 authorized patents** during this reporting period, including **1 invention patent**[53](index=53&type=chunk) [2. Analysis of Core Competencies](index=15&type=section&id=2.%20Analysis%20of%20Core%20Competencies) The company's core competencies lie in product quality, technological R&D, market expansion and customer resources, marketing services, and its core management team, ensuring high-quality, long-life products through key chain technology and strict quality control, with a 50-member R&D team driving innovation and 15 new patents this period, maintaining strong relationships with major domestic cement and building material enterprises while actively expanding overseas, supported by a comprehensive marketing and service network and an experienced management team providing strategic guidance and efficient operations - The company possesses advantages in product quality, mastering key technologies such as "anti-wear clinker conveying chain technology," which can extend product lifespan by 2-3 years, and is certified under quality management systems such as ISO9001:2015[57](index=57&type=chunk)[58](index=58&type=chunk) - The company has a strong R&D capability with over **50 R&D personnel**, adding **15 authorized patents** during this reporting period, including **1 invention patent**, bringing the total effective patents to **127** as of the end of the reporting period[59](index=59&type=chunk)[60](index=60&type=chunk) - The company maintains good cooperative relationships with major enterprises in China's cement and building materials industry, such as China National Building Material Group, Hongshi Group, and China Resources Cement, laying a foundation for expanding domestic and international markets with its high-quality customer resources[61](index=61&type=chunk) - The company's marketing and service system is comprehensive, with a sales and service network covering all provinces and cities nationwide, enhancing product added value and customer satisfaction through professional marketing and after-sales services[62](index=62&type=chunk) - The company's core management team members have over twenty years of industry experience, providing stable and efficient strategic planning and operational management for the company's development[63](index=63&type=chunk) [3. Analysis of Main Business](index=17&type=section&id=3.%20Analysis%20of%20Main%20Business) During this reporting period, the company's operating revenue slightly increased by 0.44%, but operating costs surged by 15.02%, leading to an 8.66% decline in gross margin, while financial expenses rose by 44.30% due to reduced interest income from bank deposits and large-denomination certificates, and income tax expenses decreased by 65.20% due to lower total profit, with net cash flow from operating activities falling by 52.81%; product-wise, belt bucket elevator revenue grew by 10.75% but its gross margin dropped by 23.69%, and wear parts revenue decreased by 6.78% but its gross margin increased by 1.78%, with domestic revenue up 2.82% and international revenue down 35.34% Key Financial Data Year-on-Year Change | Indicator | Current Reporting Period (RMB) | Prior Year Period (RMB) | Year-on-Year Change (%) | Reason for Change | | :--- | :--- | :--- | :--- | :--- | | Operating Revenue | 123,516,829.59 | 122,975,544.77 | 0.44% | | | Operating Cost | 84,362,759.46 | 73,344,738.67 | 15.02% | | | Financial Expenses | -7,413,885.89 | -13,310,428.19 | 44.30% | Primarily due to a decrease in interest income from bank deposits and large-denomination certificates of deposit in the current period | | Income Tax Expenses | 1,527,568.17 | 4,390,057.29 | -65.20% | Primarily due to a decrease in total profit in the current period compared to the prior year period | | Net Cash Flow from Operating Activities | 18,774,211.71 | 39,782,291.05 | -52.81% | Primarily due to a decrease in acceptance bills and letter of guarantee deposits that matured and were reversed in the current period, and a decrease in interest income from bank deposits and large-denomination certificates of deposit compared to the prior year period | Operating Revenue Composition (by Product and Region) | Category | Item | Current Reporting Period Amount (RMB) | Proportion of Operating Revenue (%) | Year-on-Year Change (%) | | :--- | :--- | :--- | :--- | :--- | | **By Product** | Plate Chain Bucket Elevator | 54,471,147.58 | 44.10% | 1.47% | | | Belt Bucket Elevator | 17,799,734.49 | 14.41% | 10.75% | | | Wear Parts | 33,802,803.60 | 27.37% | -6.78% | | | Other Accessories | 14,413,305.49 | 11.67% | 13.96% | | **By Region** | Domestic | 118,557,764.35 | 95.99% | 2.82% | | | International | 4,959,065.24 | 4.01% | -35.34% | Gross Margin Change | Category | Item | Gross Margin (%) | Gross Margin Change from Prior Year Period (%) | | :--- | :--- | :--- | :--- | | **By Industry** | General Equipment Manufacturing | 31.70% | -8.66% | | **By Product** | Plate Chain Bucket Elevator | 16.36% | -11.11% | | | Belt Bucket Elevator | 18.27% | -23.69% | | | Wear Parts | 48.62% | 1.78% | | | Other Accessories | 59.08% | -4.90% | | **By Region** | Domestic | 29.80% | -8.68% | [4. Analysis of Non-Core Business](index=18&type=section&id=4.%20Analysis%20of%20Non-Core%20Business) Non-core business contributed 12.46% to total profit this period, primarily from investment gains on disposal of wealth management products, fair value changes of unexpired wealth management products, government grants, and VAT input tax deductions, while asset impairment and credit impairment losses negatively impacted total profit; investment gains and fair value changes are not sustainable, but amortized asset-related government grants and VAT input tax deductions are relatively sustainable within policy validity Impact of Non-Core Business on Total Profit | Item | Amount (RMB) | Proportion of Total Profit (%) | Reason for Formation | Sustainability | | :--- | :--- | :--- | :--- | :--- | | Investment Income | 1,381,217.52 | 6.64% | Primarily investment income from disposal of wealth management products | No | | Gains/Losses from Fair Value Changes | 3,096,672.25 | 14.89% | Primarily fair value change gains from unexpired wealth management products | No | | Asset Impairment | -2,113,843.81 | -10.17% | Primarily provision for inventory depreciation and contract asset impairment | No | | Credit Impairment Losses | -829,558.63 | -3.99% | Primarily provision for bad debts on accounts receivable and other receivables | No | | Other Income | 2,590,699.98 | 12.46% | Primarily government grants and VAT input tax deductions obtained during the reporting period | Amortized government grants related to assets are relatively sustainable within the asset's useful life; input tax deductions arising from VAT preferential policies are relatively sustainable within the policy's effective period | [5. Analysis of Assets and Liabilities](index=19&type=section&id=5.%20Analysis%20of%20Assets%20and%20Liabilities) At the end of the reporting period, the company's total assets decreased by 3.24% from the previous year-end, with cash and cash equivalents significantly down by 26.81% primarily due to dividend payments and wealth management product purchases, while trading financial assets and other current assets notably increased by 18.90% and 5.45% respectively, mainly due to unexpired bank wealth management products and large-denomination certificates of deposit; construction in progress rose by 1.39%, reflecting capital expenditure on fundraising projects, and on the liabilities side, notes payable substantially increased, leading to an overall rise in total current liabilities, with **RMB 15.21 million** in restricted cash at period-end, mainly for letter of guarantee and acceptance bill deposits Significant Changes in Asset Composition | Item | Current Period-End Amount (RMB) | Proportion of Total Assets (%) | Change in Proportion (%) | Explanation of Significant Change | | :--- | :--- | :--- | :--- | :--- | | Cash and Cash Equivalents | 145,019,040.34 | 9.60% | -26.81% | Primarily due to dividend payments for 2024 and unexpired portions of bank wealth management products and large-denomination certificates of deposit purchased in the current period | | Trading Financial Assets | 422,032,354.71 | 27.93% | 18.90% | Primarily due to unexpired portions of bank wealth management products purchased in the current period | | Other Current Assets | 228,940,964.38 | 15.15% | 5.45% | Primarily due to unexpired portions of large-denomination certificates of deposit with a holding period of less than one year | | Construction in Progress | 47,609,094.36 | 3.15% | 1.39% | | | Other Non-Current Assets | 195,996,444.15 | 12.97% | -1.74% | Primarily due to redemption of some large-denomination certificates of deposit with a holding period exceeding one year | - The company's assets and liabilities measured at fair value totaled **RMB 426,195,641.88** at the end of the reporting period, primarily comprising trading financial assets (structured deposits and wealth management products) and notes receivable financing[75](index=75&type=chunk) - As of the end of the reporting period, **RMB 15,209,288.67** of the company's cash and cash equivalents were restricted, mainly for letter of guarantee deposits, acceptance bill deposits, and investment deposits, and were not readily available for withdrawal[76](index=76&type=chunk) [6. Analysis of Investment Status](index=20&type=section&id=6.%20Analysis%20of%20Investment%20Status) During the reporting period, the company's investment amounted to **RMB 0.2 million**, a 100% year-on-year increase, primarily for equity contributions to wholly-owned subsidiaries Shanghai Hetaichain and Hefei Hetaichain, with no significant equity, non-equity, securities, or derivative investments; as of June 30, 2025, cumulative investment in fundraising projects reached **RMB 236 million**, accounting for 34.32% of net raised funds, with some projects delayed due to site issues but without significant changes to feasibility, and unused funds mainly held in special accounts and cash management - During the reporting period, the company's investment amounted to **RMB 0.2 million**, a year-on-year increase of 100%, primarily representing the total paid-in equity investment in wholly-owned subsidiaries Shanghai Hetaichain Co., Ltd. and Hefei Hetaichain Co., Ltd[77](index=77&type=chunk) - The company had no significant equity investments, non-equity investments, securities investments, or derivative investments during the reporting period[78](index=78&type=chunk)[79](index=79&type=chunk)[80](index=80&type=chunk) Overall Use of Raised Funds | Fundraising Year | Fundraising Method | Net Raised Funds (RMB '0,000) | Total Raised Funds Used in Current Period (RMB '0,000) | Total Raised Funds Used Cumulatively (RMB '0,000) | Proportion of Raised Funds Used at Period-End (%) | | :--- | :--- | :--- | :--- | :--- | :--- | | 2023 | Initial Public Offering | 68,836.88 | 3,860.45 | 23,627.22 | 34.32% | - The fundraising projects "R&D and Industrialization Project for Unloading Elevators" and "Construction Project for Lifting Equipment Technology R&D Center" were delayed due to issues with implementation sites, but the project feasibility has not undergone significant changes[83](index=83&type=chunk) - As of June 30, 2025, unused raised funds amounted to **RMB 478 million**, of which **RMB 414 million** was used to purchase large-denomination bank certificates of deposit and structured deposits, and the remaining **RMB 64.2662 million** was held in special accounts for raised funds[81](index=81&type=chunk)[84](index=84&type=chunk) [8. Analysis of Major Holding and Participating Companies](index=24&type=section&id=8.%20Analysis%20of%20Major%20Holding%20and%20Participating%20Companies) The company's main controlled subsidiaries include Hangzhou Hetaichain Conveying Equipment Co., Ltd. (Hetaichain Conveying) and Hangzhou Hetaichain Intelligent Manufacturing Co., Ltd. (Hetaichain Intelligent Manufacturing); Hetaichain Conveying, primarily engaged in material handling equipment and accessories production, saw an 18.14% year-on-year increase in net profit this period, mainly due to improved product gross margins after production function adjustments, while Hetaichain Intelligent Manufacturing, as the implementing entity for fundraising projects, reported operating revenue of **RMB 20.76 million** this period but experienced a year-on-year decline in net profit, primarily due to increased expenses such as equipment depreciation and personnel salaries after the intelligent factory commenced operations Operating Performance of Major Subsidiaries | Company Name | Main Business | Registered Capital (RMB) | Operating Revenue (RMB) | Net Profit (RMB) | | :--- | :--- | :--- | :--- | :--- | | Hangzhou Hetaichain Conveying Equipment Co., Ltd. | Manufacturing of material handling equipment and accessories | 150,000,000.00 | 80,667,500.61 | 20,917,839.67 | | Hangzhou Hetaichain Intelligent Manufacturing Co., Ltd. | Manufacturing and sales of material handling equipment; R&D of mechanical equipment | 150,000,000.00 | 20,758,285.45 | 853,495.88 | - Hetaichain Conveying's net profit for the current period increased by 18.14% year-on-year, primarily due to an increase in product gross margin after production function adjustments in the prior year[88](index=88&type=chunk) - Hetaichain Intelligent Manufacturing's operating revenue for the current period increased by **RMB 20.7583 million** compared to the prior period, but its net profit decreased by **RMB 839,879.70** year-on-year, primarily due to increased expenses such as equipment depreciation and personnel salaries after the intelligent factory commenced operations[89](index=89&type=chunk) [10. Risks Faced by the Company and Countermeasures](index=24&type=section&id=10.%20Risks%20Faced%20by%20the%20Company%20and%20Countermeasures) The company faces multiple risks including changes in downstream industry operating environment, raw material price fluctuations, declining gross margins, implementation and capacity digestion of fundraising projects, and production safety; to address these challenges, the company plans to consolidate its market position and achieve sustainable development by enhancing product quality and services, expanding application areas and overseas markets, optimizing raw material procurement strategies, continuous R&D innovation, lean production for cost reduction and efficiency improvement, scientific planning of fundraising projects, and strengthening safety production management and training - The company faces risks from a downturn in the downstream industry and the impact of geopolitical factors and trade protectionism on overseas markets[90](index=90&type=chunk) - Direct materials constitute a high proportion of the company's main business costs, and fluctuations in steel prices will affect gross margin levels, posing a risk of inventory depreciation[91](index=91&type=chunk) - The company's gross margin decreased year-on-year in this reporting period, primarily due to intensified market competition, suboptimal capacity utilization, and increased depreciation costs from the new factory[92](index=92&type=chunk) - Fundraising projects face risks of delay due to market environment, industrial policy changes, implementation sites, and raw material procurement, as well as the risk that new capacity cannot be absorbed in a timely manner after completion and full operation[93](index=93&type=chunk)[94](index=94&type=chunk) - The company's production and processing operations have high safety production requirements, posing a risk of safety production accidents due to urgent orders, tight production schedules, and other circumstances[95](index=95&type=chunk) [Section IV Corporate Governance, Environment, and Society](index=27&type=section&id=Section%20IV%20Corporate%20Governance%2C%20Environment%2C%20and%20Society) This section details the company's governance structure, environmental practices, and social responsibility initiatives [1. Changes in Directors, Supervisors, and Senior Management](index=27&type=section&id=1.%20Changes%20in%20Directors%2C%20Supervisors%2C%20and%20Senior%20Management) During the reporting period, there were no changes in the company's directors, supervisors, and senior management, consistent with the information disclosed in the 2024 annual report - The company's directors, supervisors, and senior management did not change during the reporting period, as detailed in the 2024 annual report[99](index=99&type=chunk) [2. Profit Distribution and Capital Reserve to Share Capital Conversion for the Current Reporting Period](index=27&type=section&id=2.%20Profit%20Distribution%20and%20Capital%20Reserve%20to%20Share%20Capital%20Conversion%20for%20the%20Current%20Reporting%20Period) The company plans no semi-annual profit distribution, meaning no cash dividends, bonus shares, or capital reserve conversions to share capital - The company plans not to distribute cash dividends, send bonus shares, or convert capital reserves into share capital for the semi-annual period[100](index=100&type=chunk) [3. Implementation of Equity Incentive Plans, Employee Stock Ownership Plans, or Other Employee Incentive Measures](index=27&type=section&id=3.%20Implementation%20of%20Equity%20Incentive%20Plans%2C%20Employee%20Stock%20Ownership%20Plans%2C%20or%20Other%20Employee%20Incentive%20Measures) During the reporting period, the company did not implement any equity incentive plans, employee stock ownership plans, or other employee incentive measures - The company had no equity incentive plans, employee stock ownership plans, or other employee incentive measures and their implementation during the reporting period[101](index=101&type=chunk) [4. Environmental Information Disclosure](index=27&type=section&id=4.%20Environmental%20Information%20Disclosure) The company and its major subsidiaries are not included in the list of enterprises required to disclose environmental information by law - The listed company and its major subsidiaries are not included in the list of enterprises required to disclose environmental information by law[102](index=102&type=chunk) [5. Social Responsibility](index=27&type=section&id=5.%20Social%20Responsibility) The company upholds high social responsibility, actively safeguarding the interests of shareholders, employees, customers, and suppliers; it strictly adheres to laws and regulations, enhances operational compliance, maintains high cash dividend payouts, completing **RMB 79.02 million** in 2024 profit distribution this period; it is ISO14001:2015 certified, promotes energy conservation, builds photovoltaic power stations, cares for employees through stock ownership platforms and charitable foundations, fosters win-win cooperation with clients and suppliers, and actively engages in public welfare initiatives like establishing charitable funds and the "Qingyun Common Prosperity" project, while strengthening Party organization building - The company strictly adheres to laws and regulations to enhance its level of standardized operation, actively organizes training for directors, supervisors, and senior management, strictly fulfills information disclosure obligations, and communicates with investors through various channels[103](index=103&type=chunk) - The company adheres to a high cash dividend policy, completing the 2024 profit distribution during the reporting period, with cash dividends amounting to **RMB 79.0228 million**[103](index=103&type=chunk) - The company is certified under the ISO14001:2015 environmental management system, strictly implements environmental protection regulations, adopts effective prevention and control measures, and constructs photovoltaic power stations to promote energy conservation and emission reduction[104](index=104&type=chunk)[105](index=105&type=chunk) - The company cares for its employees, establishing an employee stock ownership platform and a charitable foundation, and providing employees with "five social insurances and one housing fund," health examinations, and various activities to enhance their sense of belonging[106](index=106&type=chunk) - The company actively participates in social welfare initiatives, establishing an endowed charitable fund with cumulative donations of **RMB 1.7 million**, and collaborating with Ningxin Village to establish the "Qingyun Common Prosperity" project to support employment[108](index=108&type=chunk) [Section V Significant Matters](index=29&type=section&id=Section%20V%20Significant%20Matters) This section addresses key events and issues that significantly impact the company's operations and financial position [1. Commitments Fulfilled and Overdue Unfulfilled by Controlling Shareholder, Shareholders, Related Parties, Acquirers, and the Company During and as of the End of the Reporting Period](index=29&type=section&id=1.%20Commitments%20Fulfilled%20and%20Overdue%20Unfulfilled%20by%20Controlling%20Shareholder%2C%20Shareholders%2C%20Related%20Parties%2C%20Acquirers%2C%20and%20the%20Company%20During%20and%20as%20of%20the%20End%20of%20the%20Reporting%20Period) During the reporting period, there were no commitments fulfilled or overdue unfulfilled by the company's actual controller, shareholders, related parties, acquirers, or the company itself - During the reporting period, there were no commitments fulfilled or overdue unfulfilled by the company's actual controller, shareholders, related parties, acquirers, or the company itself[110](index=110&type=chunk) [2. Non-Operating Funds Occupied by Controlling Shareholder and Other Related Parties from the Listed Company](index=29&type=section&id=2.%20Non-Operating%20Funds%20Occupied%20by%20Controlling%20Shareholder%20and%20Other%20Related%20Parties%20from%20the%20Listed%20Company) During the reporting period, there were no non-operating funds occupied by the controlling shareholder or other related parties from the listed company - During the reporting period, there were no non-operating funds occupied by the controlling shareholder or other related parties from the listed company[111](index=111&type=chunk) [3. Irregular External Guarantees](index=29&type=section&id=3.%20Irregular%20External%20Guarantees) During the reporting period, the company had no irregular external guarantees - The company had no irregular external guarantees during the reporting period[112](index=112&type=chunk) [4. Appointment and Dismissal of Accounting Firms](index=29&type=section&id=4.%20Appointment%20and%20Dismissal%20of%20Accounting%20Firms) The company's semi-annual report is unaudited, thus not involving the appointment or dismissal of accounting firms - The company's semi-annual report is unaudited[113](index=113&type=chunk) [7. Bankruptcy Reorganization Matters](index=29&type=section&id=7.%20Bankruptcy%20Reorganization%20Matters) During the reporting period, the company had no bankruptcy reorganization matters - The company had no bankruptcy reorganization matters during the reporting period[114](index=114&type=chunk) [8. Litigation Matters](index=29&type=section&id=8.%20Litigation%20Matters) The company had no significant litigation or arbitration matters during this reporting period, though some other litigation and labor arbitration cases below the disclosure threshold exist, with some settled or withdrawn but not fully executed, and others concluded or pending, none of which are expected to have a material impact on the company's operations or financial condition - The company had no significant litigation or arbitration matters during this reporting period[115](index=115&type=chunk) - There were lawsuits below the significant litigation disclosure threshold that have been ruled effective/settled but not yet fully executed, involving **RMB 0.6625 million**, where the court ordered the defendant to pay overdue payments, which will not have a significant impact on the company's operations and financial condition[116](index=116&type=chunk) - There were lawsuits below the significant litigation disclosure threshold that have been ruled closed, involving **RMB 0.3466 million**, where the defendant has paid the goods, and the company withdrew the lawsuit, which will not have a significant impact on the company's operations and financial condition[116](index=116&type=chunk) - There were 5 labor arbitration cases below the significant arbitration disclosure threshold, of which 4 have been concluded and 1 is pending, which will not have a significant impact on the company's operations and financial condition[116](index=116&type=chunk) [9. Penalties and Rectification](index=30&type=section&id=9.%20Penalties%20and%20Rectification) During the reporting period, the company had no penalties or rectification situations - The company had no penalties or rectification situations during the reporting period[117](index=117&type=chunk) [10. Integrity Status of the Company, its Controlling Shareholder, and Actual Controller](index=30&type=section&id=10.%20Integrity%20Status%20of%20the%20Company%2C%20its%20Controlling%20Shareholder%2C%20and%20Actual%20Controller) During the reporting period, there were no integrity issues concerning the company, its controlling shareholder, or actual controller - During the reporting period, there were no integrity issues concerning the company, its controlling shareholder, or actual controller[118](index=118&type=chunk) [11. Significant Related Party Transactions](index=30&type=section&id=11.%20Significant%20Related%20Party%20Transactions) During the reporting period, the company had no significant related party transactions related to daily operations, asset or equity acquisitions/disposals, joint external investments, or related party debt/credit, nor any deposit, loan, credit, or other financial business with affiliated finance companies; however, there were routine related party transactions below the significant disclosure threshold, primarily sales of complete machines and accessories to Guizhou Jinping Hetaichain Cement Co., Ltd. and Habahe County Ashan Cement Co., Ltd., and product sales to Hongshi Group and its subsidiaries, and Fujian Jinniu and its subsidiaries, all conducted at market fair prices - During the reporting period, the company had no related party transactions related to daily operations, asset or equity acquisitions/disposals, joint external investments, or related party debt/credit[118](index=118&type=chunk)[119](index=119&type=chunk)[120](index=120&type=chunk)[121](index=121&type=chunk) - The company had no deposit, loan, credit, or other financial business with affiliated finance companies[122](index=122&type=chunk)[123](index=123&type=chunk) Daily Related Party Transactions from January to June 2025 (Actual Occurrence) | Related Party | Related Transaction Content | Actual Amount (Excluding Tax, RMB '0,000) | Estimated Amount (Excluding Tax, RMB '0,000) | | :--- | :--- | :--- | :--- | | Guizhou Jinping Hetaichain Cement Co., Ltd. | Sales of complete machines and accessories | 7.09 | 50.00 | | Habahe County Ashan Cement Co., Ltd. | Sales of complete machines and accessories | 6.80 | 20.00 | Daily Transactions with Entities Managed as Related Parties from January to June 2025 | Counterparty | Transaction Content | Actual Amount (Excluding Tax, RMB '0,000) | Estimated Amount (Excluding Tax, RMB '0,000) | | :--- | :--- | :--- | :--- | | Hongshi Group and its subsidiaries | Sales of complete machines and accessories | 478.73 | 2,000.00 | | Fujian Jinniu and its subsidiaries | Sales of complete machines and accessories | 13.98 | 200.00 | [12. Significant Contracts and Their Performance](index=32&type=section&id=12.%20Significant%20Contracts%20and%20Their%20Performance) During the reporting period, the company had no entrustment, contracting, or leasing matters; it approved a total guarantee limit of **RMB 140 million** for subsidiaries, but no actual guarantees occurred; wealth management transactions amounted to **RMB 538 million**, comprising **RMB 207 million** from own funds and **RMB 331 million** from raised funds, with an unexpired balance of **RMB 419 million** at period-end, and no other significant contracts - The company had no entrustment, contracting, or leasing situations during the reporting period[127](index=127&type=chunk)[128](index=128&type=chunk)[129](index=129&type=chunk) - During the reporting period, the company approved a total guarantee limit of **RMB 140 million** for its subsidiaries, but the actual guarantee amount and balance were both **RMB 0**[131](index=131&type=chunk)[132](index=132&type=chunk) Entrusted Wealth Management | Specific Type | Source of Entrusted Wealth Management Funds | Amount of Entrusted Wealth Management (RMB '0,000) | Unexpired Balance (RMB '0,000) | | :--- | :--- | :--- | :--- | | Bank Wealth Management Products | Own Funds | 20,700 | 11,500 | | Bank Wealth Management Products | Raised Funds | 33,100 | 30,400 | | Total | | 53,800 | 41,900 | - The company had no other significant contracts during the reporting period[135](index=135&type=chunk) [13. Explanation of Other Significant Matters](index=34&type=section&id=13.%20Explanation%20of%20Other%20Significant%20Matters) During the reporting period, the company had no other significant matters requiring explanation - The company had no other significant matters requiring explanation during the reporting period[136](index=136&type=chunk) [14. Significant Matters of Company Subsidiaries](index=34&type=section&id=14.%20Significant%20Matters%20of%20Company%20Subsidiaries) For significant matters concerning company subsidiaries, please refer to "Section III Management Discussion and Analysis," "8. Analysis of Major Holding and Participating Companies" of this report - For significant matters concerning company subsidiaries, please refer to "Section III Management Discussion and Analysis," "8. Analysis of Major Holding and Participating Companies" of this report[137](index=137&type=chunk) [Section VI Share Changes and Shareholder Information](index=35&type=section&id=Section%20VI%20Share%20Changes%20and%20Shareholder%20Information) This section details changes in the company's share capital and provides an overview of its shareholder structure [1. Share Changes](index=35&type=section&id=1.%20Share%20Changes) During the reporting period, the company's total share capital remained unchanged at **64,666,800 shares**, with no changes in the number or proportion of restricted and unrestricted shares; restricted shares primarily belong to the controlling shareholder Hangzhou Hetaichain Holding Co., Ltd., employee stock ownership platform Hangzhou Haitai Jinghua Venture Capital Partnership (Limited Partnership), and certain natural persons, with all initial public offering restricted shares scheduled for release on August 22, 2026 Share Changes | Item | Number Before Change (shares) | Proportion Before Change (%) | Increase/Decrease in This Change (shares) | Number After Change (shares) | Proportion After Change (%) | | :--- | :--- | :--- | :--- | :--- | :--- | | I. Restricted Shares | 43,628,027 | 67.47% | 0 | 43,628,027 | 67.47% | | II. Unrestricted Shares | 21,038,773 | 32.53% | 0 | 21,038,773 | 32.53% | | III. Total Shares | 64,666,800 | 100.00% | 0 | 64,666,800 | 100.00% | Changes in Restricted Shares | Shareholder Name | Restricted Shares at Beginning of Period (shares) | Restricted Shares at End of Period (shares) | Reason for Restriction | Date of Release from Restriction | | :--- | :--- | :--- | :--- | :--- | | Hangzhou Hetaichain Holding Co., Ltd. | 39,000,000 | 39,000,000 | IPO Restricted Commitment | August 22, 2026 | | Hangzhou Haitai Jinghua Venture Capital Partnership (Limited Partnership) | 3,628,027 | 3,628,027 | IPO Restricted Commitment | August 22, 2026 | | XU QING | 510,000 | 510,000 | IPO Restricted Commitment | August 22, 2026 | | XU YING | 490,000 | 490,000 | IPO Restricted Commitment | August 22, 2026 | [2. Securities Issuance and Listing](index=36&type=section&id=2.%20Securities%20Issuance%20and%20Listing) During the reporting period, the company had no securities issuance or listing activities - The company had no securities issuance or listing during the reporting period[143](index=143&type=chunk) [3. Number of Shareholders and Shareholding Structure](index=36&type=section&id=3.%20Number%20of%20Shareholders%20and%20Shareholding%20Structure) At the end of the reporting period, the total number of common shareholders was **8,582**; among the top ten shareholders, Hangzhou Hetaichain Holding Co., Ltd. held 60.31% as the controlling shareholder, and Hangzhou Haitai Jinghua Venture Capital Partnership (Limited Partnership) held 13.14% as the employee stock ownership platform; XU QING (Xu Qing) is the company's actual controller and director, with Xu Ying as his concerted party, and the top ten unrestricted shareholders primarily include Hangzhou Haitai Jinghua Venture Capital Partnership (Limited Partnership) and various funds and natural persons, with explanations of related party relationships or concerted actions among shareholders already disclosed - The total number of common shareholders at the end of the reporting period was **8,582**[144](index=144&type=chunk) Shareholding of Shareholders Holding 5% or More or Top 10 Shareholders | Shareholder Name | Shareholder Nature | Shareholding Ratio (%) | Number of Shares Held at Period-End (shares) | Number of Restricted Shares Held (shares) | Number of Unrestricted Shares Held (shares) | | :--- | :--- | :--- | :--- | :--- | :--- | | Hangzhou Hetaichain Holding Co., Ltd. | Domestic Non-State-Owned Legal Person | 60.31% | 39,000,000 | 39,000,000 | 0 | | Hangzhou Haitai Jinghua Venture Capital Partnership (Limited Partnership) | Domestic Non-State-Owned Legal Person | 13.14% | 8,500,000 | 3,628,027 | 4,871,973 | | XU QING | Overseas Natural Person | 0.79% | 510,000 | 510,000 | 0 | | XU YING | Domestic Natural Person | 0.76% | 490,000 | 490,000 | 0 | - Hangzhou Hetaichain Holding Co., Ltd. is the company's controlling shareholder, Mr. XU QING (Xu Qing) is the company's actual controller and director, and Ms. Xu Ying is a concerted party of Mr. XU QING (Xu Qing)[145](index=145&type=chunk) - Shareholder Shen Shulan holds **0 shares** through a regular securities account and **210,000 shares** through a Caitong Securities Co., Ltd. client credit trading guarantee securities account, totaling **210,000 shares** actually held[146](index=146&type=chunk) [4. Changes in Shareholdings of Directors, Supervisors, and Senior Management](index=38&type=section&id=4.%20Changes%20in%20Shareholdings%20of%20Directors%2C%20Supervisors%2C%20and%20Senior%20Management) During the reporting period, there were no changes in the shareholdings of the company's directors, supervisors, and senior management, with specific information available in the 2024 annual report - The shareholdings of the company's directors, supervisors, and senior management did not change during the reporting period, as detailed in the 2024 annual report[147](index=147&type=chunk) [5. Changes in Controlling Shareholder or Actual Controller](index=38&type=section&id=5.%20Changes%20in%20Controlling%20Shareholder%20or%20Actual%20Controller) During the reporting period, neither the company's controlling shareholder nor its actual controller changed - The company's controlling shareholder did not change during the reporting period[148](index=148&type=chunk) - The company's actual controller did not change during the reporting period[148](index=148&type=chunk) [6. Preferred Share Information](index=38&type=section&id=6.%20Preferred%20Share%20Information) During the reporting period, the company had no preferred shares - The company had no preferred shares during the reporting period[149](index=149&type=chunk) [Section VII Bond-Related Information](index=39&type=section&id=Section%20VII%20Bond-Related%20Information) During the reporting period, the company had no bond-related information - The company had no bond-related information during the reporting period[151](index=151&type=chunk) [Section VIII Financial Report](index=40&type=section&id=Section%20VIII%20Financial%20Report) This section presents the company's comprehensive financial statements and related disclosures [1. Audit Report](index=40&type=section&id=1.%20Audit%20Report) The company's semi-annual financial report is unaudited - The company's semi-annual financial report is unaudited[153](index=153&type=chunk) [2. Financial Statements](index=40&type=section&id=2.%20Financial%20Statements) This section presents the company's 2025 semi-annual consolidated and parent company financial statements, including the balance sheet, income statement, cash flow statement, and statement of changes in owner's equity; the consolidated statements show total assets of **RMB 1.51 billion**, total liabilities of **RMB 144 million**, and owner's equity of **RMB 1.37 billion** at period-end, with a net profit of **RMB 19.26 million** for the current period, while the parent company statements show total assets of **RMB 1.29 billion**, total liabilities of **RMB 129 million**, and owner's equity of **RMB 1.17 billion** at period-end, with a net profit of **RMB 17.82 million** for the current period Consolidated Balance Sheet (Period-End Balance) | Item | Period-End Balance (RMB) | | :--- | :--- | | Total Assets | 1,511,242,842.29 | | Total Liabilities | 144,000,293.93 | | Total Owner's Equity | 1,367,242,548.36 | Consolidated Income Statement (Current Period Occurrence) | Item | Current Period Occurrence (RMB) | | :--- | :--- | | Total Operating Revenue | 123,516,829.59 | | Total Profit | 20,791,151.80 | | Net Profit | 19,263,583.63 | Consolidated Cash Flow Statement (Current Period Occurrence) | Item | Current Period Occurrence (RMB) | | :--- | :--- | | Net Cash Flow from Operating Activities | 18,774,211.71 | | Net Cash Flow from Investing Activities | -368,329,838.25 | | Net Cash Flow from Financing Activities | -79,512,521.60 | | Net Increase in Cash and Cash Equivalents | -429,119,959.05 | [3. Company Basic Information](index=57&type=section&id=3.%20Company%20Basic%20Information) Hangzhou Hetaichain Electromechanical Co., Ltd., formerly Xiaoshan Hetaichain Electromechanical Industrial Co., Ltd., established in 1995, was restructured into a joint-stock company in 2020 and listed on the Shenzhen Stock Exchange on February 22, 2023, with a registered capital of **RMB 64.67 million**, primarily engaged in general equipment manufacturing, producing various material handling equipment and accessories; these financial statements were approved for external release by the 9th meeting of the 2nd Board of Directors on August 21, 2025 - Hangzhou Hetaichain Electromechanical Co., Ltd., formerly Xiaoshan Hetaichain Electromechanical Industrial Co., Ltd., was established on June 23, 1995, and restructured into a joint-stock company on November 9, 2020[186](index=186&type=chunk) - The company's shares were listed and traded on the Shenzhen Stock Exchange on February 22, 2023, with a registered capital of **RMB 64.6668 million**[186](index=186&type=chunk) - The company belongs to the general equipment manufacturing industry, with its main business activities being the R&D, production, and sales of electromechanical products, including NBC, NBH series bucket elevators, TGD belt elevators, and various other series of conveying equipment and their accessories[187](index=187&type=chunk) - These financial statements were approved for external release by the company's 9th meeting of the 2nd Board of Directors on August 21, 2025[188](index=188&type=chunk) [4. Basis of Financial Statement Preparation](index=57&type=section&id=4.%20Basis%20of%20Financial%20Statement%20Preparation) The company's financial statements are prepared on a going concern basis, with no events or circumstances that would cast significant doubt on its ability to continue as a going concern for the 12 months from the end of the reporting period - The company's financial statements are prepared on a going concern basis[189](index=189&type=chunk) - The company has no events or circumstances that would cast significant doubt on its ability to continue as a going concern for the 12 months from the end of the reporting period[190](index=190&type=chunk) [5. Significant Accounting Policies and Estimates](index=57&type=section&id=5.%20Significant%20Accounting%20Policies%20and%20Estimates) This section details the enterprise accounting standards followed in preparing the company's financial statements and discloses specific accounting policies and estimates for financial instrument impairment, inventory, fixed asset depreciation, construction in progress, intangible assets, and revenue recognition; the company uses RMB as its functional currency, has a 12-month operating cycle, and experienced no significant changes in accounting policies or estimates during the reporting period - The financial statements prepared by the company comply with the requirements of enterprise accounting standards, truly and completely reflecting the company's financial position, operating results, and cash flows, among other relevant information[192](index=192&type=chunk) - The company uses a 12-month period as the liquidity classification standard for assets and liabilities and adopts RMB as its functional currency[194](index=194&type=chunk)[195](index=195&type=chunk) - The company has established specific accounting policies and estimates for transactions or events such as financial instrument impairment, inventory, fixed asset depreciation, construction in progress, intangible assets, and revenue recognition[191](index=191&type=chunk) - The company had no significant changes in accounting policies or significant changes in accounting estimates during the reporting period[303](index=303&type=chunk) [6. Taxation](index=74&type=section&id=6.%20Taxation) This section discloses the company's main tax categories and rates, including VAT, urban maintenance and construction tax, enterprise income tax, property tax, education surcharge, and local education surcharge; the company and its subsidiaries enjoy various tax incentives based on high-tech enterprise certification, small and micro-profit enterprise policies, and VAT input tax deduction policies for advanced manufacturing enterprises Main Tax Categories and Rates | Tax Category | Tax Basis | Tax Rate | | :--- | :--- | :--- | | Value-Added Tax (VAT) | Sales of goods and taxable services, calculated as output tax minus input tax | 13% | | Urban Maintenance and Construction Tax | Actual amount of turnover tax paid | 7%, 5% | | Enterprise Income Tax | Taxable income | 15%, 20%, 25% | - The company and Hetaichain Conveying Co., Ltd., as high-tech enterprises, are expected to pay enterprise income tax at a 15% rate for 2025 and enjoy VAT input tax deduction policies for advanced manufacturing enterprises[305](index=305&type=chunk) - Shanghai Hetaichain Co., Ltd. and Hefei Hetaichain Co., Ltd. qualify as small and micro-profit enterprises for 2025, enjoying preferential policies of calculating taxable income at 25% and paying enterprise income tax at a 20% rate[306](index=306&type=chunk) [7. Notes to Consolidated Financial Statement Items](index=75&type=section&id=7.%20Notes%20to%20Consolidated%20Financial%20Statement%20Items) This section provides detailed notes on consolidated financial statement items for assets, liabilities, owner's equity, and profit/loss; cash and cash equivalents at period-end were **RMB 145 million**, with **RMB 15.21 million** restricted; trading financial assets increased to **RMB 422 million**, mainly structured deposits and wealth management products; bad debt provisions for accounts receivable and contract assets were **RMB 3.87 million** and **RMB 0.65 million** respectively; inventory impairment provision was **RMB 5.45 million**; construction in progress balance was **RMB 47.61 million**, primarily for the "Annual Production of 3 Million Sections of Large Pitch Conveying Equipment Chains Intelligent Manufacturing Project"; operating revenue was **RMB 123 million**, operating costs **RMB 84.36 million**; financial expenses were **RMB -7.41 million**, mainly due to reduced interest income; net profit was **RMB 19.26 million** Period-End Balances of Major Asset and Liability Items | Item | Period-End Balance (RMB) | | :--- | :--- | | Cash and Cash Equivalents | 145,019,040.34 | | Trading Financial Assets | 422,032,354.71 | | Accounts Receivable | 30,422,008.34 | | Contract Assets | 8,593,001.60 | | Inventories | 101,559,853.22 | | Fixed Assets | 205,792,065.18 | | Construction in Progress | 47,609,094.36 | | Notes Payable | 34,993,272.78 | | Accounts Payable | 45,309,783.93 | | Contract Liabilities | 37,589,242.09 | Current Period Occurrence of Major Profit and Loss Items | Item | Current Period Occurrence (RMB) | | :--- | :--- | | Operating Revenue | 123,516,829.59 | | Operating Cost | 84,362,759.46 | | Selling Expenses | 3,367,745.48 | | Administrative Expenses | 13,633,048.04 | | Research and Development Expenses | 10,912,742.36 | | Financial Expenses | -7,413,885.89 | | Net Profit | 19,263,583.63 | - At period-end, **RMB 15,209,288.67** of cash and cash equivalents were restricted, primarily for letter of guarantee deposits, acceptance bill deposits, and investment deposits, and were not readily available for withdrawal[395](index=395&type=chunk) - In the current period, a bad debt provision of **RMB 0.8014 million** was made for accounts receivable, a contract asset impairment provision of **RMB -0.3244 million**, and an inventory depreciation provision of **RMB 2.4383 million**[316](index=316&type=chunk)[327](index=327&typ

杭州和泰机电股份有限公司 2025 年限制性股票激励计划激励对象名单（授予日） | 姓名 | 职务 | 获授的限制性 股票数量（万股） | 占本次激励计划 拟授予权益总数 | 占本次激励计划 公告之日公司 | | --- | --- | --- | --- | --- | | | | | 的比例 | 总股本的比例 | | 童建恩 | 董事长 | 21.00 | 17.50% | 0.32% | | 刘雪峰 | 副董事长、总经理 | 24.00 | 20.00% | 0.37% | | 孙闻伯 | 经理 董事、IT | 10.00 | 8.33% | 0.15% | | 林亮伟 | 副总经理 | 5.00 | 4.17% | 0.08% | | 冯 宁 | 财务负责人 | 6.00 | 5.00% | 0.09% | | 方 青 | 董事会秘书 | 10.00 | 8.33% | 0.15% | | | 其他核心骨干员工（28 人） | 44.00 | 36.67% | 0.68% | | | 合计 | 120.00 | 100.00% | 1.86% | 一、激励对象获授的限制性股票分配情况 注：1、上述任何 ...

浙江天册律师事务所 关于 杭州和泰机电股份有限公司 2025 年限制性股票激励计划股票授予相关事项之 法律意见书 浙江杭州市杭大路 1 号黄龙世纪广场 A 座 11 楼 310007 电话：0571 8790 1111 传真：0571 8790 1500 http://www.tclawfirm.com 法律意见书 浙江天册律师事务所 关于杭州和泰机电股份有限公司 2025年限制性股票激励计划股票授予相关事项之 法律意见书 编号：TCYJS2025H1377号 致：杭州和泰机电股份有限公司 浙江天册律师事务所（以下简称"本所"）接受杭州和泰机电股份有限公司（以 下简称"公司"或"和泰机电"）的委托，指派方梦圆律师、郑佳展律师（以下简称 "本所律师"或"经办律师"），依据《中华人民共和国公司法》（以下简称"《公 司法》"）、《中华人民共和国证券法》（以下简称"《证券法》"）、《上市公司 股权激励管理办法》（以下简称"《管理办法》"）、《深圳证券交易所上市公司自 律监管指南第1号——业务办理》等有关法律、法规和规范性文件及《杭州和泰机电 股份有限公司章程》（以下简称"《公司章程》"）的相关规定，曾就公司实行202 ...

杭州和泰机电股份有限公司 第二届董事会薪酬与考核委员会 关于公司 2025 年限制性股票激励计划激励对象名单（授予日）的 核查意见 1、本次获授限制性股票的 34 名激励对象均为公司 2025 年第一次临时股东大会审议通 过的《激励计划》中确定的激励对象，不存在《管理办法》第八条所述不得成为激励对象的 下列情形： （1）最近 12 个月内被证券交易所认定为不适当人选； （2）最近 12 个月内被中国证监会及其派出机构认定为不适当人选； （3）最近 12 个月内因重大违法违规行为被中国证监会及其派出机构行政处罚或者 采取市场禁入措施； （4）具有《公司法》规定的不得担任公司董事、高级管理人员的情形的； （5）法律法规规定不得参与上市公司股权激励的； （6）中国证监会认定的其他情形。 杭州和泰机电股份有限公司（以下简称"公司"）第二届董事会薪酬与考核委员会 依据《中华人民共和国公司法》（以下简称"《公司法》"）、《中华人民共和国证券 法》（以下简称"《证券法》"）、《上市公司股权激励管理办法》（以下简称"《管 理办法》"）等有关法律、行政法规、规范性文件和《公司章程》的有关规定，对公司 2025 年限制性股票激励 ...