Financial Performance - Total assets increased to ¥7,046,312,555.38, a growth of 100.43% compared to the previous year[7] - Net assets attributable to shareholders reached ¥4,850,541,259.82, reflecting a 171.18% increase year-over-year[7] - Operating revenue for the period was ¥324,994,173.16, up 32.81% from the same period last year[7] - Net profit attributable to shareholders was ¥85,909,266.98, representing a significant increase of 260.01% year-over-year[7] - The basic earnings per share rose to ¥0.16, an increase of 206.67% compared to the previous year[7] - The company reported a net cash flow from operating activities of ¥1,880,754.25, showing a growth of 100.67% year-to-date[7] - Total profit, net profit, and net profit attributable to the parent company increased by 186.63%, 182.96%, and 186.39% respectively, mainly due to the profit increase from the merger with Dream Network Technology and the increase in operating and non-operating income[16] - Cash and cash equivalents increased by 66.32% compared to the end of the previous year, primarily due to the merger with Dream Network Technology and proceeds from property sales[16] - Accounts receivable increased by 50.29% compared to the end of the previous year, mainly due to the merger with Dream Network Technology and increased operating income[16] - Prepayments increased by 273.21% compared to the end of the previous year, primarily due to the merger with Dream Network Technology and increased advance payments for raw materials[16] - Operating income increased by 59.04% year-on-year, primarily due to the merger with Dream Network Technology and an increase in new contracts signed[16] - Operating profit increased by 107.09% year-on-year, mainly due to the merger with Dream Network Technology and increased operating income[16] - Net cash flow from operating activities increased by 100.67% year-on-year, mainly due to the merger with Dream Network Technology and reduced operating expenses[17] - The company expects a net profit for 2015 to be between 145 million and 185 million yuan, a turnaround from a net loss of 257.68 million yuan in 2014[27] Mergers and Acquisitions - The company completed the acquisition of 100% equity in Shenzhen Dream Network Technology Development Co., Ltd., which was included in the consolidated financial statements from September 2015[15] - The company completed the acquisition of 100% equity of Shenzhen Dream Network Technology Co., Ltd., which was officially included in the consolidated financial statements from September 2015[18] Shareholder and Compliance Regulations - The company has committed to strictly adhere to the regulations set by the China Securities Regulatory Commission and the Shenzhen Stock Exchange regarding share reduction within the specified limits[22] - After the completion of the transaction, the company will not increase its shareholding in the listed company for 12 months, except for passive increases due to capital reserve transfers or stock dividends[22] - The company has a lock-up period of 12 months for shares acquired through this transaction, which will not be transferred during this period[23] - Following the lock-up period, shares will be unlocked in three phases: 33% after 12 months, 33% after 24 months, and 34% after 36 months[23] - The company will not engage in any actions to expand voting rights in the listed company for 36 months post-transaction completion[23] - The company has confirmed that it will not enter into any agreements with other investors to seek actual control over the listed company for 36 months[23] - The company will ensure that any share reduction by major shareholders will be disclosed in a timely manner to maintain compliance with legal obligations[22] - The company has established a commitment to maintain the actual control of major shareholders for 36 months following the transaction[22] - The company will not engage in any joint actions with other shareholders to influence the voting rights of the listed company[23] - The company has outlined a clear strategy for compliance with share transfer regulations post-transaction, ensuring transparency and legality[22] Related Transactions and Competition - The company emphasizes strict compliance with laws and regulations to prevent any non-operational fund occupation by controlling entities[25] - The company and its controlling entities will avoid engaging in any business that competes with its own operations during the tenure of control and for two years after leaving office[25] - The company will ensure that any unavoidable related transactions are conducted at fair market prices and comply with relevant legal and regulatory requirements[25] - The company has established a commitment to minimize and regulate related transactions with its controlled entities[25] - The company will adhere to information disclosure obligations and necessary approval procedures for related transactions[25] - The company is currently in strict compliance with its commitments regarding related transactions and competition[25] - The company will leverage its control over other entities to ensure adherence to the same standards of compliance[24] Other Financial Information - There are no reported securities investments during the reporting period[29] - The company did not hold any shares in other listed companies during the reporting period[30] - There were no instances of non-compliance with external guarantees during the reporting period[31] - The company reported no non-operating fund occupation by controlling shareholders or related parties during the reporting period[32]

Financial Performance - The company achieved operating revenue of CNY 757,313,870.89, representing a year-on-year increase of 73.77%[20] - The net profit attributable to shareholders was CNY 26,618,246.73, a significant turnaround from a loss of CNY 76,568,937.22 in the previous year, marking a growth of 134.76%[20] - The basic earnings per share rose to CNY 0.05, compared to a loss of CNY 0.15 in the same period last year, reflecting a growth of 133.33%[20] - The company's total revenue for the reporting period was 757.31 million yuan, an increase of 73.77% compared to 435.82 million yuan in the same period last year, driven by increased sales contracts and accelerated execution of previously unfulfilled contracts[33] - The company reported a net profit attributable to shareholders of 266.18 million yuan, a significant improvement from a loss of 765.69 million yuan in the previous year, reflecting a year-on-year growth of 134.76%[33] - The total comprehensive income for the current period was ¥29,432,122.77, compared to a loss of ¥83,946,231.03 in the previous period[126] Cash Flow and Investments - The net cash flow from operating activities improved to -CNY 55,829,979.91, an increase of 78.82% compared to the previous year[20] - The company’s investment activities generated a net cash inflow of 61.76 million yuan, a remarkable increase of 941.62% compared to the previous year[33] - The cash inflow from investment activities was CNY 97,271,276.73, significantly higher than CNY 414,130.00 in the previous period[134] - The net cash flow from investment activities was CNY 61,755,078.14, compared to CNY -7,337,610.60 in the prior period, indicating a positive turnaround[134] Expenses and Cost Management - Management expenses decreased by 6.04% to CNY 11,836,010.00, while sales expenses fell by 14.58% to CNY 10,766,920.00, and financial expenses decreased by 15.43% to CNY 2,607,750.00[27] - The company has successfully implemented cost control measures, resulting in a decrease in various expenses during the reporting period[27] - The company's gross profit margin decreased by 6.99% due to intense industry competition and declining product prices[29] Assets and Liabilities - Total assets at the end of the reporting period were CNY 3,683,648,262.21, an increase of 4.78% from the previous year[20] - The net assets attributable to shareholders increased by 2.37% to CNY 1,831,061,166.03[20] - The company's accounts payable increased by 43.28% to 489.02 million yuan, attributed to increased material procurement[34] - Total liabilities increased to CNY 1,817,412,967.51 from CNY 1,690,495,150.72, reflecting a rise of approximately 7.5%[117] Shareholder Information - The total number of shares outstanding remained at 504 million, with a slight decrease in restricted shares from 9.88% to 9.73%[99] - The largest shareholder, Shenzhen Deep Hong Kong Industrial Research and Investment Co., Ltd., held 74,073,316 shares, accounting for 14.70% of total shares[103] - The second largest shareholder, Zuo Qiang, held 58,589,732 shares, representing 11.62% of total shares[103] - Total number of common shareholders at the end of the reporting period was 52,148[102] Corporate Actions and Plans - The company plans not to distribute cash dividends or issue bonus shares for this period[6] - The company initiated a major asset restructuring by acquiring 100% of Shenzhen Dream Network Technology Co., Ltd., aiming to accelerate the layout of emerging industries[29] - The company is actively promoting the restructuring work related to the acquisition of assets and fundraising through share issuance[76] Regulatory and Compliance - The semi-annual financial report was not audited[90] - The financial statements comply with the requirements of the accounting standards, accurately reflecting the company's financial position, operating results, and cash flows[158] - The company received unconditional approval from the China Securities Regulatory Commission for its asset acquisition and fundraising activities[76] Research and Development - Research and development expenses amounted to 43.09 million yuan, a decrease of 3.33% from the previous year[33] - The company specializes in the manufacturing of energy-saving high-power power electronic devices[152] - The company’s main products include reactive power compensation equipment and variable frequency drive systems[152] Accounting Policies - The company adheres to accounting policies that reflect its operational characteristics, including provisions for bad debts, depreciation of fixed assets, and revenue recognition[157] - Financial assets and liabilities are classified at initial recognition, with specific measurement and recognition criteria outlined for different categories[168] - The company recognizes revenue from sales of goods when the risks and rewards of ownership have transferred to the buyer, and the amount of revenue can be reliably measured[198]

荣信电力电子股份有限公司 2015 年第一季度报告正文 证券代码：002123 证券简称：荣信股份 公告编号：2015-039 荣信电力电子股份有限公司 2015 年第一季度报告正文 1 荣信电力电子股份有限公司 2015 年第一季度报告正文 第一节 重要提示 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完整，不存在虚假记载、误导性陈 述或者重大遗漏，并承担个别和连带的法律责任。 所有董事均已出席了审议本次季报的董事会会议。 公司负责人左强、主管会计工作负责人戴东及会计机构负责人(会计主管人员)陈宏声明：保证季度报告中财务报表的真 实、准确、完整。 2 荣信电力电子股份有限公司 2015 年第一季度报告正文 第二节 主要财务数据及股东变化 一、主要会计数据和财务指标 公司是否因会计政策变更及会计差错更正等追溯调整或重述以前年度会计数据 √ 是 □ 否 | | 本报告期 | 上年同期 | | 本报告期比上年同 期增减 | | --- | --- | --- | --- | --- | | | | 调整前 | 调整后 | 调整后 | | 营业收入（元） | 307,524,566.5 ...

Financial Performance - The company's operating revenue for 2014 was ¥927,799,821.68, a decrease of 29.73% compared to the previous year[30]. - The net profit attributable to shareholders was -¥257,683,938.8, representing a decline of 439.76% year-on-year[30]. - The net cash flow from operating activities was -¥112,482,507.3, down 24.03% from the previous year[36]. - The company's total assets at the end of 2014 were ¥3,515,678,848, a decrease of 13.82% compared to the end of 2013[30]. - The gross profit margin decreased by 3.38% due to intensified industry competition and declining product prices[36]. - The company's sales revenue decreased by 29.73% year-on-year, primarily due to a decline in new contracts and delayed deliveries from previously signed contracts[39]. - The company reported a significant drop in new contracts, impacting sales revenue and leading to a backlog of unfulfilled contracts[34]. - The company reported a net profit of CNY -257,683,938.81 for 2014, with no cash dividends distributed[102]. - The company incurred financial expenses of ¥62,035,278.82, down from ¥74,724,789.62, a decrease of 17.5%[199]. - The company recorded an investment loss of ¥6,280,854.53, compared to an investment gain of ¥156,094,833.58 in the previous period[199]. Assets and Liabilities - The company's current assets totaled CNY 2,542,980,098.09, down from CNY 3,089,745,014.07 at the start of the year, indicating a decline of approximately 17.7%[192]. - Cash and cash equivalents decreased to CNY 537,614,403.66 from CNY 751,806,950.35, representing a decline of about 28.5%[192]. - Accounts receivable decreased to CNY 1,077,966,375.09 from CNY 1,365,009,594.33, a reduction of approximately 21.1%[192]. - Total liabilities decreased to CNY 1,690,495,150.72 from CNY 1,972,526,871.80, a reduction of approximately 14.3%[194]. - The company's equity attributable to shareholders decreased to CNY 1,788,690,402.06 from CNY 2,056,610,625.06, a decline of about 13.0%[195]. Research and Development - The company plans to increase R&D investment to maintain product profit levels amid rising competition and labor costs, aiming for a high-tech product strategy[13]. - Research and development expenditure for the year was 12,532.21 million yuan, accounting for 13.51% of sales revenue[47]. - The company is focusing on the development of energy-saving high-power power electronic equipment, which is supported by national policies and has significant market demand[80]. - The company has obtained 386 patents and 104 software copyrights, demonstrating its strong research and development capabilities[68]. Market Strategy and Expansion - The company aims to expand into new market areas and accelerate the internationalization of its products to ensure competitive market positioning[13]. - The company plans to accelerate its strategic layout in emerging industries through the acquisition of 100% equity in Shenzhen Dream Network Technology Co., Ltd.[32]. - The company intends to increase the proportion of revenue from value-added services such as software and hardware upgrades and remote monitoring in its after-sales service market[89]. - The company is considering strategic acquisitions to enhance its product portfolio, with a budget of 500 million yuan allocated for potential deals[145]. Management and Governance - The company emphasizes strengthening its management team to cope with the challenges of business expansion[14]. - The company has established an effective performance evaluation and incentive system linking the compensation of directors, supervisors, and senior management to company performance and individual achievements[159]. - The independent directors attended 7 board meetings, with no objections raised against company matters during the reporting period[163][164]. - The company ensures equal rights for all shareholders and has mechanisms in place to protect minority shareholders' interests[156]. Social Responsibility and Sustainability - The company emphasizes its commitment to social responsibility, focusing on economic development and environmental protection[104]. - The management team emphasized a focus on sustainability initiatives, aiming for a 30% reduction in carbon emissions by 2025[145]. - The company has a strong sense of social responsibility, aiming to balance the interests of stakeholders including shareholders, employees, and society[159]. Audit and Financial Reporting - The current auditor, Tianjian Accounting Firm, has been engaged for six consecutive years, with an audit fee of 731,400[115]. - The audit report issued by Tianjian Accounting Firm provided a standard unqualified opinion on the financial statements[184]. - The audit committee communicated effectively with Tianjian Accounting Firm regarding the 2014 financial report audit schedule and agreed to submit the financial report prepared according to the Accounting Standards for Enterprises for audit[167].

荣信电力电子股份有限公司 2014 年第三季度报告正文 证券代码：002123 证券简称：荣信股份 公告编号：2014-023 荣信电力电子股份有限公司 2014 年第三季度报告正文 1 荣信电力电子股份有限公司 2014 年第三季度报告正文 第一节 重要提示 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完整，不存在虚 假记载、误导性陈述或者重大遗漏，并承担个别和连带的法律责任。 公司负责人左强、主管会计工作负责人戴东及会计机构负责人(会计主管人员)陈宏声明：保证季度报 告中财务报表的真实、准确、完整。 所有董事均已出席了审议本次季报的董事会会议。 2 荣信电力电子股份有限公司 2014 年第三季度报告正文 第二节 主要财务数据及股东变化 一、主要会计数据和财务指标 公司是否因会计政策变更及会计差错更正等追溯调整或重述以前年度会计数据 √ 是 □ 否 3 荣信电力电子股份有限公司 2014 年第三季度报告正文 | | | 对公司根据《公开发行证券的公司信息披露解释性公告第 1 号——非经常性损益》定义界定的非经常性损益项目，以及把《公 开发行证券的公司信息披露解释性公告第 1 号 ...

Financial Performance - The company's operating revenue for the reporting period was ¥522,755,451.15, a decrease of 28.40% compared to the same period last year[21]. - The net profit attributable to shareholders of the listed company was -¥76,568,937.22, representing a decline of 197.70% year-on-year[21]. - The total assets at the end of the reporting period were ¥4,231,914,409.77, down 4.14% from the end of the previous year[21]. - The company signed new contracts worth ¥448,845,500 (including tax) during the reporting period, a decrease of 54.03% year-on-year[27]. - The net cash flow from operating activities was -¥276,634,379.02, a decrease of 11.43% compared to the previous year[28]. - The weighted average return on net assets was -3.80%, a decrease of 7.47% compared to the previous year[21]. - Operating costs amounted to ¥323,897,957.11, reflecting a decrease of 24.51% year-on-year[31]. - The net profit attributable to the parent company was -¥76,568,937.22, a decline of 197.70% year-on-year due to decreased revenue and investment income[31]. - The gross profit margin for the energy-saving high-power power electronics manufacturing sector was 38.04%, down 3.20% from the previous year[34]. - Domestic revenue decreased by 31.25% to ¥483,551,861.47, while international revenue increased by 46.51% to ¥39,203,589.68[34]. Expenses and Costs - Management expenses increased by 1.80% to ¥136,726,900, primarily due to the large number of subsidiaries[27]. - Sales expenses rose by 2.16% to ¥126,960,700, attributed to increased market development costs amid intensified competition[27]. - Financial expenses increased by 8.28% to ¥34,858,400, mainly due to increased borrowing[27]. - Research and development expenses were ¥52,884,395.16, down 11.49% from the previous year[31]. Cash Flow and Liquidity - The net cash flow from operating activities was -¥276,634,379.02, representing an increase in cash outflow of 11.43% compared to the previous year[31]. - The total cash outflow from operating activities was 707,587,417.86 CNY, compared to 630,215,209.15 CNY in the previous period, showing increased operational costs[96]. - The ending balance of cash and cash equivalents was 271,420,383.82 CNY, down from 372,264,289.24 CNY in the previous period, indicating a liquidity contraction[97]. - The company experienced a net decrease in cash and cash equivalents of -284,882,502.65 CNY, contrasting with an increase of 18,255,684.63 CNY in the previous period[97]. Shareholder Information - The company plans not to distribute cash dividends or issue bonus shares for this period[6]. - The total number of shares is 504,000,000, with 51,084,954 shares (10.14%) under limited sale conditions and 452,915,046 shares (89.86%) under unlimited sale conditions[62]. - The largest shareholder, Shenzhen Deep Hong Kong Industry-Academic Research Venture Capital Co., holds 74,073,316 shares, representing 14.70% of total shares[65]. - The second-largest shareholder, Zuo Qiang, holds 58,589,732 shares, accounting for 11.62% of total shares[65]. - The company has not experienced any changes in its controlling shareholder or actual controller during the reporting period[67][68]. Assets and Liabilities - The total assets decreased from CNY 4,414,479,701.84 at the beginning of the period to CNY 4,231,914,409.77 at the end of the period, a decline of approximately 4.13%[78]. - Current assets decreased from CNY 3,452,558,380.42 to CNY 3,264,356,662.97, representing a reduction of about 5.45%[78]. - Total liabilities decreased from CNY 2,119,985,247.03 to CNY 2,027,165,903.50, a decline of about 4.39%[80]. - Current liabilities decreased from CNY 1,444,979,569.39 to CNY 1,256,769,314.68, a reduction of approximately 13.00%[80]. - Non-current liabilities increased from CNY 675,005,677.64 to CNY 770,396,588.82, an increase of about 14.09%[80]. - Shareholders' equity decreased from CNY 2,294,494,454.81 to CNY 2,204,748,506.27, a decline of approximately 3.92%[80]. Investment and Development - The company plans to focus on new product development and market expansion strategies in the upcoming quarters[106]. - The company is focusing on the development and sales of new technologies, with an investment of 4,250,000 in solar energy technology research and development, achieving an 85.00% growth in this area[181]. - The company has initiated a strategic acquisition plan to enhance its capabilities in high-voltage capacitor technology, with an expected revenue contribution of 13,153,000 in the next fiscal year[181]. Accounting and Financial Reporting - The company has made adjustments to its accounting policies, which may impact future financial reporting[106]. - The company has not changed its accounting policies or estimates during the reporting period[174]. - The corporate income tax rate for the company is 15% due to its recognition as a high-tech enterprise, valid until December 31, 2014[176]. - The company benefits from a VAT refund policy for software products, where the actual tax burden exceeding 3% is refunded[177]. Bad Debt and Receivables - The total accounts receivable at the end of the period amounted to ¥1,671,546,438.93, with a bad debt provision of ¥178,068,426.46, representing a provision ratio of 10.65%[194]. - The accounts receivable aged within one year totaled ¥908,962,458.00, accounting for 54.38% of the total, with a bad debt provision of ¥45,448,122.90[194]. - The accounts receivable aged over three years totaled ¥165,784,351.43, with a bad debt provision of ¥49,735,305.42, indicating a provision ratio of 29.96%[194]. - The aging analysis method was applied for bad debt provision in the accounts receivable[196].

Financial Performance - The company's operating revenue for Q1 2014 was ¥271,557,060.18, representing a 15.79% increase compared to ¥234,527,461.42 in the same period last year[8] - Net profit attributable to shareholders was ¥1,926,284.45, a significant increase of 91.45% from ¥1,006,178.77 year-on-year[8] - The net cash flow from operating activities improved by 21.72%, amounting to -¥180,422,523.14, compared to -¥230,489,642.90 in the previous year[8] - The company's total assets increased by 3.59% to ¥4,572,803,698.32 from ¥4,414,479,701.84 at the end of the previous year[8] - The net profit attributable to shareholders for the first half of 2014 is expected to range from 0 to 23.52 million yuan, representing a decrease of 100% to 70% compared to the same period in 2013, which was 78.37 million yuan[20] - The decline in performance is primarily due to a significant reduction in investment income, as the company previously realized an investment gain of 83.08 million yuan from selling 13.8 million shares of Hengshun Electric in the first half of 2013[20] Shareholder Information - The number of shareholders at the end of the reporting period was 49,261[11] Accounts and Receivables - Accounts receivable grew by 53.75% compared to the end of the previous year, primarily due to increased sales collections[16] - Prepayments increased by 30.73%, mainly due to higher material procurement costs[16] Operating Costs and Income - The company's operating costs rose by 34.04% year-on-year, attributed to increased sales volume[16] - The company's investment income decreased by 185.45% year-on-year, primarily due to increased losses from joint ventures and associates[16] - The income tax expense increased by 911.95% year-on-year, mainly due to an increase in taxable income for the period[17] Business Strategy - The company has committed to avoiding competition with its own business and is adhering to this commitment strictly as of the report date[18]

Financial Performance - The company's operating revenue for 2013 was CNY 1,497,530,910.47, representing a 16.35% increase compared to CNY 1,287,133,495.51 in 2012[22] - The net profit attributable to shareholders decreased by 34.24% to CNY 75,843,521.47 from CNY 115,326,193.41 in the previous year[22] - The basic earnings per share decreased by 34.78% to CNY 0.15 from CNY 0.23 in 2012[22] - The weighted average return on equity was 3.64%, down from 5.65% in the previous year[22] - The comprehensive gross margin decreased by 8.32% year-on-year, attributed to intensified industry competition and declining product prices[32] - The company’s net profit attributable to shareholders was CNY 7,584.35 million, with a decline in operating profit and net profit primarily due to a decrease in product gross margin and high period expenses[32] - The net profit for the year 2013 was ¥130,834,850.44, after deducting statutory surplus reserves of ¥13,083,485.04[94] - The actual distributable profit for shareholders was ¥1,043,327,833.47, which includes retained earnings from the previous year[94] Cash Flow and Assets - The net cash flow from operating activities was negative at CNY -160,368,307.81, showing a 9.07% improvement from CNY -176,363,519.26 in 2012[22] - The total assets at the end of 2013 increased by 4.76% to CNY 4,414,479,701.84 from CNY 4,214,032,344.58 in 2012[22] - The net assets attributable to shareholders decreased by 3% to CNY 2,056,610,625.06 compared to CNY 2,120,142,051.68 at the end of 2012[22] - The company faced a net cash flow from operating activities of -CNY 16,036.83 million, indicating ongoing pressure from delayed payments from downstream customers[33] - The company reported a significant increase in accounts receivable, totaling CNY 1,413,028,764.58, compared to CNY 1,171,776,495.48 in the previous year, indicating higher sales volume[188] Investments and R&D - The company plans to enhance R&D investment and focus on high-end products to stabilize profit margins amid rising competition and costs[11] - Research and development expenditure for the year was 150.55 million yuan, representing 10.05% of the sales revenue[45] - The company is investing 100 million RMB in R&D for new technologies aimed at enhancing product efficiency[127] - The company is focusing on R&D for key projects and optimizing main products to achieve stable and continuous growth in orders and operating performance[82] Market and Competition - The company signed new orders totaling CNY 185,886.89 million, a decrease of 29.51% year-on-year, mainly due to reductions in rectifier, overseas business, and coal EPC operations[36] - The company is facing increasing market competition in the energy-saving high-power power electronics equipment manufacturing industry, which is supported by national policies[79] - The company has identified significant opportunities in high-end equipment manufacturing, energy conservation, and new energy industries as part of its strategic development[80] Corporate Governance and Shareholder Relations - The company has implemented a strict information disclosure system to ensure timely and accurate communication with shareholders[149] - The company’s governance structure is in compliance with the Corporate Governance Code as per the China Securities Regulatory Commission[145] - The company maintains complete independence from its controlling shareholder in business, personnel, assets, and finance[165] - The annual shareholders' meeting approved all proposals, including the 2012 financial report and profit distribution plan[152] Subsidiaries and Investments - Major subsidiaries include Beijing Rongxin Zhongke Electric Equipment Co., Ltd. (51% equity), Xi'an Rongxin Electric Co., Ltd. (90% equity), and Rongxin Power Engineering JLT Co., Ltd. (100% equity)[69] - The company’s investment in subsidiaries is affected by pricing strategies, leading to losses in sales-oriented subsidiaries such as Rongxin Jiashi and Rongxin Ruike[74] - The company transferred 95% of its stake in Tumushuke Rongxin New Energy Co., Ltd., and 70% of its 90% stake in Hami Rongxin New Energy Co., Ltd., which will no longer be included in the consolidated financial statements[86][87] Social Responsibility - The company emphasizes its commitment to social responsibility and environmental protection while pursuing economic benefits[95] - The company has not been involved in any major social safety issues or received administrative penalties during the reporting period[95] - The company aims to enhance its brand reputation while balancing commercial interests with social responsibilities[95]