[Important Notes, Table of Contents, and Definitions](index=2&type=section&id=First%20Section%20Important%20Notes%2C%20Table%20of%20Contents%2C%20and%20Definitions) This section provides crucial disclaimers, outlines the report's structure, lists reference documents, and defines key terms for clarity [Important Notes](index=2&type=section&id=Important%20Notes) The Board of Directors, Supervisory Board, and senior management guarantee the report's accuracy and completeness, while forward-looking statements are not commitments - The company's Board of Directors, Supervisory Board, and senior management guarantee the truthfulness, accuracy, and completeness of the report's content[4](index=4&type=chunk) - The company's responsible person, head of accounting, and head of accounting department declare the financial report is true, accurate, and complete[4](index=4&type=chunk) - The company plans not to distribute cash dividends, bonus shares, or convert capital reserves into share capital[4](index=4&type=chunk) [Table of Contents](index=2&type=section&id=Table%20of%20Contents) This section lists the report's nine main chapters and their starting page numbers, providing an overview of the report's overall structure - The report comprises nine main chapters, covering company profile, management discussion and analysis, and financial reports[5](index=5&type=chunk) [Reference Documents Catalog](index=2&type=section&id=Reference%20Documents%20Catalog) This section lists the reference documents available for inspection during the reporting period, including the chairman-signed semi-annual report, financial statements, and original public disclosures - Reference documents include the chairman-signed original semi-annual report, financial statements, and original public disclosure documents[7](index=7&type=chunk)[8](index=8&type=chunk) [Definitions](index=3&type=section&id=Definitions) This section defines common terms used in the report, including company names, controlling shareholders, subsidiaries, relevant laws, and core technologies and products, ensuring accurate reader comprehension - Definitions clarify the Company, controlling shareholder (Fujian Institute of Research on the Structure of Matter), and major subsidiaries (Haite Optoelectronics, Zhiqiguangzi, Ruichuang Optoelectronics)[9](index=9&type=chunk) - Core technology and product terms such as laser, nonlinear optical crystals, laser crystals, solid-state lasers, fiber lasers, LiDAR, AR, and optical communication are explained[9](index=9&type=chunk) - The reporting period is defined as January to June 2025, with the end of the reporting period being June 30, 2025[9](index=9&type=chunk) [Company Profile and Key Financial Indicators](index=4&type=section&id=Second%20Section%20Company%20Profile%20and%20Key%20Financial%20Indicators) This section presents the company's fundamental information, contact details, and a summary of its key financial performance and position for the reporting period [I. Company Profile](index=4&type=section&id=I.%20Company%20Profile) This section provides the company's basic information, including stock ticker, code, listing exchange, Chinese and English names, and legal representative, for investor identification Company Basic Information | Indicator | Content | | :--- | :--- | | Stock Abbreviation | CASTECH | | Stock Code | 002222 | | Listed Stock Exchange | Shenzhen Stock Exchange | | Chinese Name | 福建福晶科技股份有限公司 | | English Name | CASTECH Inc. | | Legal Representative | Chen Hui | [II. Contact Person and Information](index=4&type=section&id=II.%20Contact%20Person%20and%20Information) This section provides detailed contact information for the company's Board Secretary and Securities Affairs Representative, facilitating investor communication and inquiries Contact Person and Information | Position | Name | Contact Address | Phone | Fax | Email | | :--- | :--- | :--- | :--- | :--- | :--- | | Board Secretary | Xue Hanfeng | Building 9, F Zone, Fuzhou Software Park, 89 Software Avenue, Gulou District, Fuzhou City | 0591-83719323 | 0591-83719323 | securities@castech.com | | Securities Affairs Representative | Xue Hanfeng | Building 9, F Zone, Fuzhou Software Park, 89 Software Avenue, Gulou District, Fuzhou City | 0591-83719323 | 0591-83719323 | securities@castech.com | [III. Other Information](index=4&type=section&id=III.%20Other%20Information) This section states that the company's contact information, information disclosure, and document storage locations remained unchanged during the reporting period, referring to the 2024 annual report - The company's contact information, information disclosure, and document storage locations remained unchanged during the reporting period, as detailed in the 2024 annual report[13](index=13&type=chunk)[14](index=14&type=chunk) - No other relevant information changed during the reporting period[15](index=15&type=chunk) [IV. Key Accounting Data and Financial Indicators](index=4&type=section&id=IV.%20Key%20Accounting%20Data%20and%20Financial%20Indicators) This section presents the company's key accounting data and financial indicators for the first half of 2025, including revenue, net profit, and net cash flow, demonstrating steady growth Key Accounting Data and Financial Indicators for H1 2025 | Indicator | Current Reporting Period (yuan) | Prior Year Same Period (yuan) | % Change from Prior Year Same Period | | :--- | :--- | :--- | :--- | | Operating Revenue | 519,063,371.15 | 439,496,210.80 | 18.10% | | Net Profit Attributable to Shareholders of Listed Company | 128,148,178.45 | 109,567,089.33 | 16.96% | | Net Profit Attributable to Shareholders of Listed Company (Excluding Non-Recurring Gains/Losses) | 119,839,681.13 | 117,143,753.64 | 2.30% | | Net Cash Flow from Operating Activities | 135,430,971.34 | 88,197,410.71 | 53.55% | | Basic Earnings Per Share (yuan/share) | 0.2725 | 0.2330 | 16.95% | | Diluted Earnings Per Share (yuan/share) | 0.2725 | 0.2330 | 16.95% | | Weighted Average Return on Net Assets | 7.85% | 7.33% | Increased by 0.52 percentage points | | **End of Current Reporting Period** | **End of Prior Year** | **% Change from End of Prior Year** | | | Total Assets (yuan) | 2,202,746,806.79 | 1,999,365,560.31 | 10.17% | | Net Assets Attributable to Shareholders of Listed Company (yuan) | 1,658,643,954.31 | 1,576,941,206.61 | 5.18% | [V. Differences in Accounting Data Under Domestic and Overseas Accounting Standards](index=5&type=section&id=V.%20Differences%20in%20Accounting%20Data%20Under%20Domestic%20and%20Overseas%20Accounting%20Standards) This section states that the company had no differences in net profit and net assets between international/overseas accounting standards and Chinese accounting standards during the reporting period - The company had no differences in net profit and net assets under domestic and overseas accounting standards during the reporting period[17](index=17&type=chunk)[18](index=18&type=chunk) [VI. Non-Recurring Gains and Losses Items and Amounts](index=5&type=section&id=VI.%20Non-Recurring%20Gains%20and%20Losses%20Items%20and%20Amounts) This section details the company's non-recurring gains and losses for the first half of 2025, totaling **8.31 million yuan**, and confirms no other items meet this definition Non-Recurring Gains and Losses Items and Amounts for H1 2025 | Item | Amount (yuan) | Explanation | | :--- | :--- | :--- | | Gains/Losses from Disposal of Non-Current Assets | -8,779.54 | | | Government Grants Included in Current Profit/Loss (Excluding those with continuous impact) | 7,798,453.47 | | | Fair Value Changes and Disposal Gains/Losses from Financial Assets and Liabilities Held by Non-Financial Enterprises | 1,121,968.34 | | | Other Non-Operating Income and Expenses Apart from the Above | -8,551.59 | | | Less: Income Tax Impact | 560,061.43 | | | Impact on Minority Interests (After Tax) | 34,531.93 | | | **Total** | **8,308,497.32** | | - The company has no other profit/loss items that meet the definition of non-recurring gains and losses, nor has it classified non-recurring items as recurring[21](index=21&type=chunk) [Management Discussion and Analysis](index=6&type=section&id=Third%20Section%20Management%20Discussion%20and%20Analysis) This section provides an in-depth review of the company's operations, financial performance, market position, and strategic outlook during the reporting period [I. Company's Main Business Activities During the Reporting Period](index=6&type=section&id=I.%20Company%27s%20Main%20Business%20Activities%20During%20the%20Reporting%20Period) The company focuses on optoelectronic fields like laser and optical communication, providing core components, and achieved steady growth in revenue and net profit by capitalizing on market opportunities - The company's main business involves R&D, manufacturing, and sales of crystal components, precision optical components, and laser devices, operating within the computer, communication, and other electronic equipment manufacturing industry[23](index=23&type=chunk) - The company in the first half of 2025 achieved steady development by seizing opportunities in the global ultrafast laser and optical communication markets[57](index=57&type=chunk) H1 2025 Key Financial Performance | Indicator | Amount (RMB 10,000) | % Change from Prior Year | | :--- | :--- | :--- | | Operating Revenue | 51,906.34 | 18.10% | | Net Profit Attributable to Shareholders of Listed Company | 12,814.82 | 16.96% | | Net Profit Attributable to Shareholders of Listed Company (Excluding Non-Recurring Gains/Losses) | 11,983.97 | 2.30% | | Net Cash Flow from Operating Activities | 13,543.10 | 53.55% | | Weighted Average Return on Net Assets | 7.85% | Increased by 0.52 percentage points | [(I) Industry Development Overview](index=6&type=section&id=(I)%20Industry%20Development%20Overview) This section analyzes the laser and optical communication industries, highlighting accelerated domestic substitution in lasers, the promising ultrafast laser market, and AI-driven growth in optical interconnects - The laser industry has a complete value chain with accelerating domestic substitution, and the ultrafast laser market is projected to grow at a **CAGR of 10%-15%** in the coming years[24](index=24&type=chunk)[29](index=29&type=chunk) - China has become the world's largest industrial laser market, with technological innovation, domestic substitution, and overseas expansion as key development trends[30](index=30&type=chunk) - The explosion of AI applications is driving new growth in the optical communication industry, with rapid growth in optical interconnect demand from 2023-2025, expected to continue until 2030[33](index=33&type=chunk) - The Data Center Interconnect (DCI) market is expected to grow at twice the rate of the overall optical communication market, with a synchronous increase in demand for WSS and its core optical components[33](index=33&type=chunk)[34](index=34&type=chunk) [(II) Main Business](index=9&type=section&id=(II)%20Main%20Business) During the reporting period, the company's main business remained unchanged, focusing on the R&D, production, and sales of crystal components, precision optical components, and laser devices - The company's main business remained largely unchanged, primarily engaging in the R&D, production, and sales of crystal components, precision optical components, and laser devices[35](index=35&type=chunk) [(III) Main Products and Applications](index=9&type=section&id=(III)%20Main%20Products%20and%20Applications) The company offers three product categories—crystal components, precision optical components, and laser devices—including various crystals, lenses, mirrors, and modulators, widely used in lasers, optical communication, AR, and LiDAR - The company's product system includes crystal components (nonlinear optical crystals, laser crystals, etc.), precision optical components (windows, mirrors, lenses, diffraction gratings, etc.), and laser devices (magneto-optical devices, acousto-optical devices, electro-optical devices, etc.)[36](index=36&type=chunk)[37](index=37&type=chunk)[41](index=41&type=chunk)[43](index=43&type=chunk) - Products are widely applied in solid-state lasers, fiber lasers, optical communication wavelength division multiplexers, AR, LiDAR, semiconductor equipment, and precision instruments[37](index=37&type=chunk)[41](index=41&type=chunk)[43](index=43&type=chunk) [(IV) Business Model](index=12&type=section&id=(IV)%20Business%20Model) The company generates revenue primarily from R&D, production, and sales of optoelectronic components, utilizing a build-to-order production model with direct sales and a robust R&D focus - The company primarily generates revenue, profit, and cash flow through the R&D, production, and sales of crystal components, precision optical components, and laser devices[49](index=49&type=chunk) - Procurement Model: Purchases raw materials from qualified suppliers based on orders and inventory, using competitive bidding or tender processes, managed by a strict supplier management system[51](index=51&type=chunk) - Production Model: Primarily adopts a build-to-order approach, with reasonable stocking for some general-purpose products[52](index=52&type=chunk) - Sales Model: Primarily direct sales, supplemented by consignment, expanding markets through online promotion, exhibitions, and customer visits, covering both domestic and international markets[53](index=53&type=chunk) - R&D Model: Operates an independent R&D center for proprietary research and collaborates with its controlling shareholder (Fujian Institute of Research on the Structure of Matter) or other research institutions for joint R&D[54](index=54&type=chunk) [(V) Market Position](index=13&type=section&id=(V)%20Market%20Position) The company holds a leading global market position in laser and optical communication components, being the largest producer of LBO and BBO crystals, and offers a comprehensive "crystal + optical component + laser device" one-stop service - The company is a globally renowned leading manufacturer of LBO crystals, BBO crystals, Nd:YVO4 crystals, precision optical components, high-power optical isolators, and acousto-optical and electro-optical devices[55](index=55&type=chunk) - The company holds an international leading position in core nonlinear optical crystals and laser crystals, being the world's largest producer of LBO and BBO crystals and their components, with the highest global market share[56](index=56&type=chunk) - LBO crystal devices were recognized as a "Manufacturing Single Champion Product" by the Ministry of Industry and Information Technology and the China Federation of Industrial Economics[56](index=56&type=chunk) - The company's influence in the precision optical products and laser device markets is steadily increasing, successfully breaking the monopoly of foreign laser device suppliers[56](index=56&type=chunk) - The company is one of the very few suppliers in the industry capable of providing "crystal + optical component + laser device" one-stop optoelectronic services to laser customers[56](index=56&type=chunk) [(VI) Operating Performance During the Reporting Period](index=14&type=section&id=(VI)%20Operating%20Performance%20During%20the%20Reporting%20Period) In H1 2025, the company achieved **519.06 million yuan** in operating revenue, a **18.10% increase**, and **128.15 million yuan** in net profit attributable to shareholders, a **16.96% increase**, driven by R&D and market expansion - The group standard "Photo-thermal Lens Method Weak Absorption Rate Tester" led by the company passed review and was implemented[57](index=57&type=chunk) - The large-aperture electro-optical modulator and driver based on independently grown BBO crystals filled a domestic gap, winning the "2025 China Top Ten Optical Industry Technology Application Award"; the 68M large-aperture acousto-optical modulator won the "Red Light Award - Laser Device Innovation Award"[57](index=57&type=chunk) H1 2025 Business Revenue Growth | Business Type | % Change from Prior Year | | :--- | :--- | | Export Business Revenue | 13.75% | | Domestic Sales Revenue | 20.77% | | Crystal Components Revenue | 7.67% | | - Nonlinear Optical Crystal Revenue | 5.98% | | - Laser Crystal Revenue | 10.15% | | Precision Optical Components Revenue | 29.05% | | Laser Devices Revenue | 29.51% | [II. Core Competitiveness Analysis](index=15&type=section&id=II.%20Core%20Competitiveness%20Analysis) The company's core competitiveness stems from its strong brand, one-stop marketing services, continuous technological innovation, R&D-driven approach, and refined management, establishing a high-tech, high-quality image in the global optoelectronics sector - The company's core management team and key technical personnel are stable, possessing complete land use rights, factory facilities, advanced equipment, patented technologies, and trademark rights[60](index=60&type=chunk) - Brand Advantage: Long-term focus on its main business, establishing solid partnerships with top global laser manufacturers, with the "CASTECH" brand enjoying a reputation for high technology, high quality, and excellent service in the global laser industry[60](index=60&type=chunk) - One-Stop Marketing Service Advantage: Built a full-chain product matrix of crystals, optical components, and laser devices, offering "one-stop" optoelectronic solutions to enhance customer procurement efficiency[61](index=61&type=chunk) - Technological Innovation Advantage: Accumulated unique processes and technologies in crystal growth, optical processing, coating, and device assembly, ensuring excellent product quality[62](index=62&type=chunk) - R&D Driven Advantage: Established national-level enterprise technology centers, postdoctoral research workstations, and other platforms for independent research and collaboration with scientific research institutions, accelerating new product R&D and technological iteration[64](index=64&type=chunk) - Management Advantage: Deeply promotes refined management, obtaining ISO9001, ISO14001, ISO45001, and IATF16949 certifications, building a comprehensive quality management system[65](index=65&type=chunk) [III. Analysis of Main Business](index=16&type=section&id=III.%20Analysis%20of%20Main%20Business) This section analyzes the main business's financial performance, noting an 18.10% increase in operating revenue, but a higher growth in operating costs led to a decrease in gross profit margin, with significant growth in precision optical components and laser devices Major Financial Data Year-on-Year Changes | Indicator | Current Reporting Period (yuan) | Prior Year Same Period (yuan) | % Change from Prior Year | Reason for Change | | :--- | :--- | :--- | :--- | :--- | | Operating Revenue | 519,063,371.15 | 439,496,210.80 | 18.10% | | | Operating Cost | 254,507,584.19 | 195,128,126.05 | 30.43% | Driven by sales growth, some product prices decreased, and material/labor costs increased | | Selling Expenses | 8,482,410.41 | 9,069,265.13 | -6.47% | | | Administrative Expenses | 46,595,850.07 | 46,874,748.88 | -0.59% | | | Financial Expenses | -1,376,383.63 | -3,401,967.29 | 59.54% | Reduced exchange gains due to RMB appreciation | | R&D Investment | 53,920,505.45 | 43,510,972.67 | 23.92% | | | Income Tax Expense | 22,970,078.84 | 20,875,044.58 | 10.04% | | | Net Cash Flow from Operating Activities | 135,430,971.34 | 88,197,410.71 | 53.55% | Increased sales collection | | Net Cash Flow from Investing Activities | -129,483,026.15 | -98,348,085.20 | -31.66% | Decreased amount of matured structured deposits | | Net Cash Flow from Financing Activities | 26,102,165.95 | -41,800,949.55 | 162.44% | Increased subsidiary borrowings, decreased parent company dividends | | Net Increase in Cash and Cash Equivalents | 32,050,111.14 | -51,951,624.04 | 161.69% | Increased cash received from sales, increased bank borrowings, and decreased dividends | Operating Revenue Composition (by Product and Region) | Category | Item | Current Reporting Period Amount (yuan) | % of Operating Revenue | Prior Year Same Period Amount (yuan) | % of Operating Revenue | % Change from Prior Year | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | **By Product** | Nonlinear Optical Crystal Components | 126,508,322.26 | 24.37% | 119,366,848.39 | 27.16% | 5.98% | | | Laser Crystal Components | 89,652,758.11 | 17.27% | 81,391,262.29 | 18.52% | 10.15% | | | Precision Optical Components | 182,004,940.10 | 35.06% | 141,039,507.23 | 32.09% | 29.05% | | | Laser Devices | 111,564,903.88 | 21.50% | 86,146,693.60 | 19.60% | 29.51% | | | Other | 9,332,446.80 | 1.80% | 11,551,899.29 | 2.63% | -19.21% | | **By Region** | Domestic | 329,104,541.36 | 63.40% | 272,495,217.25 | 62.00% | 20.77% | | | International | 189,958,829.79 | 36.60% | 167,000,993.55 | 38.00% | 13.75% | Operating Revenue, Cost, and Gross Profit Margin (by Product and Region) | Category | Item | Operating Revenue (yuan) | Operating Cost (yuan) | Gross Profit Margin | % Change in Operating Revenue from Prior Year | % Change in Operating Cost from Prior Year | % Change in Gross Profit Margin from Prior Year | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | **By Industry** | Optoelectronics Industry | 519,063,371.15 | 254,507,584.19 | 50.97% | 18.10% | 30.43% | -4.63% | | **By Product** | Nonlinear Optical Crystal Components | 126,508,322.26 | 30,537,672.24 | 75.86% | 5.98% | 8.42% | -0.54% | | | Laser Crystal Components | 89,652,758.11 | 36,322,625.08 | 59.49% | 10.15% | 28.02% | -5.65% | | | Precision Optical Components | 182,004,940.10 | 106,904,796.23 | 41.26% | 29.05% | 25.36% | 1.72% | | | Laser Devices | 111,564,903.88 | 75,839,766.19 | 32.02% | 29.51% | 57.22% | -11.98% | | | Other | 9,332,446.80 | 4,902,724.45 | 47.47% | -19.21% | -3.38% | -8.61% | | **By Region** | Domestic | 329,104,541.36 | 184,362,361.10 | 43.98% | 20.77% | 31.73% | -4.66% | | | International | 189,958,829.79 | 70,145,223.09 | 63.07% | 13.75% | 27.18% | -4.00% | [IV. Analysis of Non-Core Business](index=18&type=section&id=IV.%20Analysis%20of%20Non-Core%20Business) This section analyzes the impact of non-core business on total profit, identifying investment income and government grants as positive contributors, while credit impairment losses had a negative effect Impact of Non-Core Business on Total Profit | Item | Amount (yuan) | % of Total Profit | Reason for Formation | Sustainability | | :--- | :--- | :--- | :--- | :--- | | Investment Income | 3,067,351.89 | 1.90% | Equity method investment income from long-term equity investments | Yes | | Fair Value Change Gains/Losses | 1,121,968.34 | 0.70% | Fair value changes of financial assets measured at fair value and whose changes are recognized in current profit/loss | No | | Non-Operating Income | 18,474.57 | 0.01% | Gains from asset scrap | No | | Non-Operating Expenses | 72,295.50 | 0.04% | Losses from asset scrap | No | | Other Income | 8,641,731.69 | 5.37% | Government grants | No | | Credit Impairment Losses | -3,280,025.51 | -2.04% | Provision for bad debts | No | [V. Analysis of Assets and Liabilities](index=18&type=section&id=V.%20Analysis%20of%20Assets%20and%20Liabilities) This section analyzes the composition and significant changes in the company's assets and liabilities, noting increases in total assets, net assets attributable to shareholders, construction in progress, and right-of-use assets, alongside corresponding increases in long-term borrowings and lease liabilities Significant Changes in Asset Composition | Item | End of Current Reporting Period Amount (yuan) | % of Total Assets | End of Prior Year Amount (yuan) | % of Total Assets | % Change in Proportion | Explanation of Significant Change | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Monetary Funds | 342,447,044.63 | 15.55% | 311,134,243.93 | 15.56% | -0.01% | | | Accounts Receivable | 382,009,591.77 | 17.34% | 298,020,367.67 | 14.91% | 2.43% | | | Inventories | 298,666,654.28 | 13.56% | 288,414,245.02 | 14.43% | -0.87% | | | Long-Term Equity Investments | 66,159,892.68 | 3.00% | 64,573,370.27 | 3.23% | -0.23% | | | Fixed Assets | 594,692,027.74 | 27.00% | 573,144,021.59 | 28.67% | -1.67% | | | Construction in Progress | 99,254,047.40 | 4.51% | 65,200,601.10 | 3.26% | 1.25% | Increased by **52.23%**, mainly due to increased equipment to be installed and investment in Phase II Building D | | Right-of-Use Assets | 55,109,374.49 | 2.50% | 30,656,824.50 | 1.53% | 0.97% | Increased by **79.76%**, mainly due to new factory leases by subsidiaries during the period | | Short-Term Borrowings | 17,000,000.00 | 0.77% | 14,005,479.45 | 0.70% | 0.07% | | | Contract Liabilities | 5,501,385.69 | 0.25% | 4,503,178.73 | 0.23% | 0.02% | | | Long-Term Borrowings | 89,266,977.12 | 4.05% | 59,566,517.12 | 2.98% | 1.07% | Increased by **49.86%**, mainly due to increased long-term borrowings by subsidiaries during the period | | Lease Liabilities | 45,152,529.45 | 2.05% | 23,138,477.01 | 1.16% | 0.89% | Increased by **95.14%**, mainly due to new factory leases by subsidiaries during the period | Assets and Liabilities Measured at Fair Value | Item | Beginning Balance (yuan) | Fair Value Change Gains/Losses for Current Period (yuan) | Amount Purchased for Current Period (yuan) | Amount Sold for Current Period (yuan) | Ending Balance (yuan) | | :--- | :--- | :--- | :--- | :--- | :--- | | Trading Financial Assets | 10,047,911.12 | | 45,000,000.00 | 10,047,911.12 | 45,000,000.00 | | Other Non-Current Financial Assets | 51,464,517.10 | 1,121,968.34 | | 2,823,596.05 | 49,762,889.39 | | **Subtotal Financial Assets** | **61,512,428.22** | **1,121,968.34** | **45,000,000.00** | **12,871,507.17** | **94,762,889.39** | - The company's main asset measurement attributes did not undergo significant changes during the reporting period[76](index=76&type=chunk) [VI. Investment Analysis](index=20&type=section&id=VI.%20Investment%20Analysis) This section states that the company had no significant equity investments, non-equity investments, securities investments, derivative investments, or use of raised funds during the reporting period, indicating stable investment activities - The company had no securities investments, derivative investments, significant equity investments, significant non-equity investments, or use of raised funds during the reporting period[76](index=76&type=chunk)[77](index=77&type=chunk) [VII. Significant Asset and Equity Disposals](index=20&type=section&id=VII.%20Significant%20Asset%20and%20Equity%20Disposals) This section states that the company did not undertake any significant asset or equity disposals during the reporting period, maintaining a stable asset structure - The company did not dispose of significant assets or equity during the reporting period[78](index=78&type=chunk)[79](index=79&type=chunk) [VIII. Analysis of Major Holding and Participating Companies](index=20&type=section&id=VIII.%20Analysis%20of%20Major%20Holding%20and%20Participating%20Companies) This section lists the financial information for the company's major subsidiaries, including Qingdao Haite Optoelectronics, Fujian Ruichuang Optoelectronics, Fujian Huajing Investment, and Fujian Zhiqiguangzi, with Ruichuang Optoelectronics and Zhiqiguangzi showing significant revenue and net profit growth in H1 2025 Major Holding and Participating Companies | Company Name | Company Type | Main Business | Registered Capital (yuan) | Total Assets (yuan) | Net Assets (yuan) | Operating Revenue (yuan) | Operating Profit (yuan) | Net Profit (yuan) | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Qingdao Haite Optoelectronics Technology Co., Ltd. | Subsidiary | Production and processing of optical, nonlinear optical crystal materials and technical services | 15,000,000.00 | 216,209,639.01 | 145,514,196.62 | 77,037,757.08 | 33,949,279.10 | 28,459,171.82 | | Fujian Ruichuang Optoelectronics Technology Co., Ltd. | Subsidiary | Development, production, and sales of diffractive optics and micro-optics products | 31,000,000.00 | 40,455,722.90 | 36,269,048.92 | 15,928,808.66 | 5,052,165.80 | 4,804,645.80 | | Fujian Huajing Investment Co., Ltd. | Subsidiary | External investment | 80,000,000.00 | 28,149,104.37 | 28,149,104.37 | | 5,131,749.02 | 5,131,749.02 | | Fujian Zhiqiguangzi Technology Co., Ltd. | Subsidiary | Development, production, and sales of ultra-precision optical components | 174,705,882.00 | 363,995,194.82 | 167,708,178.03 | 49,054,225.86 | 995,210.16 | 995,210.39 | - Ruichuang Optoelectronics' operating revenue increased by **67.48%** and net profit increased by **271.71%** in the first half of 2025[80](index=80&type=chunk) - Zhiqiguangzi's operating revenue increased by **73.66%** and net profit was **995,210.39 yuan** in the first half of 2025[80](index=80&type=chunk) [IX. Information on Structured Entities Controlled by the Company](index=21&type=section&id=IX.%20Information%20on%20Structured%20Entities%20Controlled%20by%20the%20Company) This section states that the company had no structured entities under its control during the reporting period - The company had no structured entities under its control during the reporting period[81](index=81&type=chunk) [X. Risks Faced by the Company and Countermeasures](index=21&type=section&id=X.%20Risks%20Faced%20by%20the%20Company%20and%20Countermeasures) This section identifies key risks such as intensified market competition, changes in international environment and trade policies, accounts receivable collection, and exchange rate fluctuations, outlining corresponding mitigation strategies - Risk of intensified market competition: Addressed by strengthening market research, increasing R&D investment, adhering to technological leadership and differentiation strategies, and exploring high-value-added product markets[81](index=81&type=chunk) - Risk of changes in international environment and trade policies: Managed by closely monitoring macroeconomic and trade policy changes, enhancing communication with international customers, prudently assessing export risks, and intensifying domestic market development[83](index=83&type=chunk) - Risk of accounts receivable collection: Mitigated by formulating credit policies based on customer creditworthiness, strictly controlling sales credit limits, and strengthening reconciliation and collection efforts[84](index=84&type=chunk) - Exchange rate fluctuation risk: Monitored by the finance department, communicating pricing mechanisms with customers, strengthening collection of foreign sales receivables, and flexibly choosing settlement methods or advance receipts[85](index=85&type=chunk) [XI. Formulation and Implementation of Market Value Management System and Valuation Enhancement Plan](index=22&type=section&id=XI.%20Formulation%20and%20Implementation%20of%20Market%20Value%20Management%20System%20and%20Valuation%20Enhancement%20Plan) This section states that the company did not formulate a market value management system or disclose a valuation enhancement plan during the reporting period - The company did not formulate a market value management system or disclose a valuation enhancement plan during the reporting period[86](index=86&type=chunk) [XII. Implementation of 'Quality and Return Dual Improvement' Action Plan](index=22&type=section&id=XII.%20Implementation%20of%20%27Quality%20and%20Return%20Dual%20Improvement%27%20Action%20Plan) This section states that the company did not disclose an announcement regarding the "Quality and Return Dual Improvement" action plan during the reporting period - The company did not disclose an announcement regarding the "Quality and Return Dual Improvement" action plan during the reporting period[86](index=86&type=chunk) [Corporate Governance, Environment, and Society](index=22&type=section&id=Fourth%20Section%20Corporate%20Governance%2C%20Environment%2C%20and%20Society) This section details the company's governance structure, profit distribution plans, employee incentives, environmental disclosures, and social responsibility initiatives [I. Changes in Directors, Supervisors, and Senior Management](index=22&type=section&id=I.%20Changes%20in%20Directors%2C%20Supervisors%2C%20and%20Senior%20Management) This section states that there were no changes in the company's directors, supervisors, and senior management during the reporting period, referring to the 2024 annual report for details - The company's directors, supervisors, and senior management did not change during the reporting period[87](index=87&type=chunk) [II. Profit Distribution and Capital Reserve Conversion to Share Capital During the Reporting Period](index=22&type=section&id=II.%20Profit%20Distribution%20and%20Capital%20Reserve%20Conversion%20to%20Share%20Capital%20During%20the%20Reporting%20Period) This section states that the company plans not to distribute cash dividends, bonus shares, or convert capital reserves into share capital for the half-year period - The company plans not to distribute cash dividends, bonus shares, or convert capital reserves into share capital for the half-year period[89](index=89&type=chunk) [III. Implementation of Equity Incentive Plans, Employee Stock Ownership Plans, or Other Employee Incentive Measures](index=23&type=section&id=III.%20Implementation%20of%20Equity%20Incentive%20Plans%2C%20Employee%20Stock%20Ownership%20Plans%2C%20or%20Other%20Employee%20Incentive%20Measures) This section states that the company had no equity incentive plans, employee stock ownership plans, or other employee incentive measures implemented during the reporting period - The company had no equity incentive plans, employee stock ownership plans, or other employee incentive measures implemented during the reporting period[90](index=90&type=chunk) [IV. Environmental Information Disclosure](index=23&type=section&id=IV.%20Environmental%20Information%20Disclosure) This section states that the company and its major subsidiaries are not included in the list of enterprises required to disclose environmental information by law - The company and its major subsidiaries are not included in the list of enterprises required to disclose environmental information by law[91](index=91&type=chunk) [V. Social Responsibility](index=23&type=section&id=V.%20Social%20Responsibility) The company is committed to driving optoelectronic industry development through innovation, providing cost-effective solutions, maintaining robust governance, promoting energy conservation, and actively engaging in social welfare while balancing stakeholder interests - The company is committed to being a "strong promoter of optoelectronic industry development," focusing on technological innovation in laser and optical communication to provide cost-effective products and one-stop solutions[91](index=91&type=chunk) - The company has established a sound governance structure and investor communication mechanism, improved human resource management systems, and conducts procurement and sales based on principles of equal consultation and mutual benefit[91](index=91&type=chunk) - The company promotes energy conservation and emission reduction, operates compliantly, pays taxes according to law, actively participates in social welfare, and balances the interests of shareholders, customers, suppliers, employees, and society for shared success[91](index=91&type=chunk) [Significant Matters](index=23&type=section&id=Fifth%20Section%20Significant%20Matters) This section covers critical events and disclosures, including commitments, related party transactions, litigation, and other material issues affecting the company [I. Commitments Fulfilled and Overdue Unfulfilled by Actual Controller, Shareholders, Related Parties, Acquirers, and the Company During and as of the End of the Reporting Period](index=23&type=section&id=I.%20Commitments%20Fulfilled%20and%20Overdue%20Unfulfilled%20by%20Actual%20Controller%2C%20Shareholders%2C%20Related%20Parties%2C%20Acquirers%2C%20and%20the%20Company%20During%20and%20as%20of%20the%20End%20of%20the%20Reporting%20Period) This section states that the company had no commitments fulfilled or overdue unfulfilled by relevant parties during or as of the end of the reporting period - The company had no commitments fulfilled or overdue unfulfilled by relevant parties during the reporting period[93](index=93&type=chunk) [II. Non-Operating Funds Occupied by Controlling Shareholder and Other Related Parties from the Listed Company](index=23&type=section&id=II.%20Non-Operating%20Funds%20Occupied%20by%20Controlling%20Shareholder%20and%20Other%20Related%20Parties%20from%20the%20Listed%20Company) This section states that there were no non-operating funds occupied by the controlling shareholder or other related parties from the listed company during the reporting period - The company had no non-operating funds occupied by the controlling shareholder or other related parties from the listed company during the reporting period[94](index=94&type=chunk) [III. Illegal External Guarantees](index=23&type=section&id=III.%20Illegal%20External%20Guarantees) This section states that the company had no illegal external guarantees during the reporting period - The company had no illegal external guarantees during the reporting period[95](index=95&type=chunk) [IV. Appointment and Dismissal of Accounting Firms](index=23&type=section&id=IV.%20Appointment%20and%20Dismissal%20of%20Accounting%20Firms) This section states that the company's semi-annual financial report was unaudited - The company's semi-annual financial report was unaudited[96](index=96&type=chunk) [V. Board of Directors' and Supervisory Board's Explanation on 'Non-Standard Audit Report' for the Current Reporting Period](index=23&type=section&id=V.%20Board%20of%20Directors%27%20and%20Supervisory%20Board%27s%20Explanation%20on%20%27Non-Standard%20Audit%20Report%27%20for%20the%20Current%20Reporting%20Period) This section states that there was no non-standard audit report for the company during the reporting period - There was no non-standard audit report for the company during the reporting period[98](index=98&type=chunk) [VI. Board of Directors' Explanation on 'Non-Standard Audit Report' for the Previous Year](index=24&type=section&id=VI.%20Board%20of%20Directors%27%20Explanation%20on%20%27Non-Standard%20Audit%20Report%27%20for%20the%20Previous%20Year) This section states that there were no relevant circumstances regarding a non-standard audit report for the previous year during the reporting period - There were no relevant circumstances regarding a non-standard audit report for the previous year during the reporting period[98](index=98&type=chunk) [VII. Bankruptcy Reorganization Matters](index=24&type=section&id=VII.%20Bankruptcy%20Reorganization%20Matters) This section states that no bankruptcy reorganization matters occurred for the company during the reporting period - No bankruptcy reorganization matters occurred for the company during the reporting period[98](index=98&type=chunk) [VIII. Litigation Matters](index=24&type=section&id=VIII.%20Litigation%20Matters) This section states that there were no significant litigation or arbitration matters for the company during the reporting period - There were no significant litigation or arbitration matters for the company during the reporting period[99](index=99&type=chunk) [IX. Penalties and Rectification](index=24&type=section&id=IX.%20Penalties%20and%20Rectification) This section states that there were no penalties or rectification situations for the company during the reporting period - There were no penalties or rectification situations for the company during the reporting period[100](index=100&type=chunk) [X. Integrity Status of the Company, its Controlling Shareholder, and Actual Controller](index=24&type=section&id=X.%20Integrity%20Status%20of%20the%20Company%2C%20its%20Controlling%20Shareholder%2C%20and%20Actual%20Controller) This section states that the company, its controlling shareholder, and actual controller maintain a good integrity status, with no inapplicable circumstances - The company, its controlling shareholder, and actual controller maintain a good integrity status[101](index=101&type=chunk) [XI. Significant Related Party Transactions](index=24&type=section&id=XI.%20Significant%20Related%20Party%20Transactions) This section discloses significant related party transactions during the reporting period, primarily routine operating transactions with the controlling shareholder within the estimated range, with no other major related party transactions - The company had no significant related party transactions related to daily operations during the reporting period, apart from the previously disclosed estimated routine related party transactions for 2025[101](index=101&type=chunk) - The company had no related party transactions involving asset or equity acquisitions/disposals, nor joint external investments during the reporting period[102](index=102&type=chunk)[103](index=103&type=chunk) - The company had no related party creditor-debtor transactions and no deposits, loans, credit lines, or other financial business with related financial companies during the reporting period[104](index=104&type=chunk)[105](index=105&type=chunk)[107](index=107&type=chunk) - The estimated routine related party transactions for 2025 did not exceed **10 million yuan**, and the actual amount incurred during the reporting period was within this estimate[108](index=108&type=chunk) [XII. Significant Contracts and Their Performance](index=25&type=section&id=XII.%20Significant%20Contracts%20and%20Their%20Performance) This section states that the company had no significant entrustment, contracting, leasing, major guarantees, or other major contracts during the reporting period, but discloses the amount of wealth management products initiated and outstanding - The company had no entrustment, contracting, or leasing matters during the reporting period[109](index=109&type=chunk) - The company had no significant guarantee situations during the reporting period[110](index=110&type=chunk) Wealth Management Products | Specific Type | Source of Funds for Wealth Management | Amount of Wealth Management Initiated (RMB 10,000) | Outstanding Balance (RMB 10,000) | Overdue Unrecovered Amount (RMB 10,000) | Impairment Provision for Overdue Unrecovered Wealth Management (RMB 10,000) | | :--- | :--- | :--- | :--- | :--- | :--- | | Bank Wealth Management Products | Own Funds | 4,500 | 4,500 | 0 | 0 | - The company had no other significant contracts during the reporting period[113](index=113&type=chunk) [XIII. Explanation of Other Significant Matters](index=26&type=section&id=XIII.%20Explanation%20of%20Other%20Significant%20Matters) This section states that there were no other significant matters requiring explanation for the company during the reporting period - There were no other significant matters requiring explanation for the company during the reporting period[114](index=114&type=chunk) [XIV. Significant Matters of Company Subsidiaries](index=26&type=section&id=XIV.%20Significant%20Matters%20of%20Company%20Subsidiaries) This section states that there were no significant matters concerning the company's subsidiaries during the reporting period - There were no significant matters concerning the company's subsidiaries during the reporting period[115](index=115&type=chunk) [Share Changes and Shareholder Information](index=26&type=section&id=Sixth%20Section%20Share%20Changes%20and%20Shareholder%20Information) This section outlines changes in the company's share capital, details of major shareholders, and any alterations in the controlling shareholder or actual controller [I. Share Fluctuation](index=26&type=section&id=I.%20Share%20Fluctuation) This section discloses the company's share changes during the reporting period, primarily a **1-share increase** in restricted shares and a **1-share decrease** in unrestricted shares due to executive identity lock adjustments, with total shares remaining constant Share Fluctuation | Item | Number Before Change (shares) | Increase/Decrease in Current Change (＋,－) | Number After Change (shares) | Proportion | | :--- | :--- | :--- | :--- | :--- | | I. Restricted Shares | 2,098,285 | +1 | 2,098,286 | 0.45% | | II. Unrestricted Shares | 468,151,715 | -1 | 468,151,714 | 99.55% | | III. Total Shares | 470,250,000 | 0 | 470,250,000 | 100.00% | - The reason for share fluctuation was an adjustment in executive identity lock[117](index=117&type=chunk) Changes in Restricted Shares | Shareholder Name | Restricted Shares at Beginning of Period (shares) | Restricted Shares Released in Current Period (shares) | Restricted Shares Increased in Current Period (shares) | Restricted Shares at End of Period (shares) | Reason for Restriction | Date of Release from Restriction | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Chen Hui | 1,958,713 | 0 | 0 | 1,958,713 | Director identity lock 75% | Adjusted annually based on holdings at year-end | | Chen Qiuhua | 139,572 | 0 | 1 | 139,573 | Director, senior executive identity lock 75% | Adjusted annually based on holdings at year-end | | **Total** | **2,098,285** | **0** | **1** | **2,098,286** | | | [II. Securities Issuance and Listing](index=27&type=section&id=II.%20Securities%20Issuance%20and%20Listing) This section states that there were no securities issuance or listing activities for the company during the reporting period - The company had no securities issuance or listing activities during the reporting period[119](index=119&type=chunk) [III. Number of Shareholders and Shareholding Information](index=27&type=section&id=III.%20Number%20of%20Shareholders%20and%20Shareholding%20Information) This section discloses that the company had **58,822** common shareholders at the end of the reporting period, with the controlling shareholder, Fujian Institute of Research on the Structure of Matter, holding **20.58%** - The total number of common shareholders at the end of the reporting period was **58,822**[120](index=120&type=chunk) Shareholding Information of Shareholders Holding 5% or More or Top 10 Shareholders | Shareholder Name | Shareholder Nature | Shareholding Ratio | Number of Shares Held at End of Reporting Period (shares) | Change in Current Period (shares) | Number of Restricted Shares Held (shares) | Number of Unrestricted Shares Held (shares) | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Fujian Institute of Research on the Structure of Matter, Chinese Academy of Sciences | State-owned Legal Person | 20.58% | 96,800,000 | 0 | 0 | 96,800,000 | | Guotai Fund - Industrial and Commercial Bank of China - Guotai Fund Gewu No. 1 Asset Management Plan | Other | 2.63% | 12,350,986 | 53,410 | 0 | 12,350,986 | | Bank of Communications Co., Ltd. - Yongying Semiconductor Industry Smart Selection Mixed Initiated Securities Investment Fund | Other | 1.23% | 5,800,000 | 4,409,700 | 0 | 5,800,000 | | Guotai Fund - Bank of Shanghai - Guotai Fund Gewu No. 2 Collective Asset Management Plan | Other | 0.97% | 4,548,520 | 120,100 | 0 | 4,548,520 | | Zhao Wei | Domestic Natural Person | 0.94% | 4,438,000 | 60,000 | 0 | 4,438,000 | | Hong Kong Securities Clearing Company Limited | Overseas Legal Person | 0.86% | 4,032,532 | -7,217,886 | 0 | 4,032,532 | | China Merchants Bank Co., Ltd. - Southern CSI 1000 Exchange Traded Index Securities Investment Fund | Other | 0.74% | 3,470,887 | 358,560 | 0 | 3,470,887 | | Guotai Fund - Bank of Beijing - Guotai Fund Ruiji No. 1 Collective Asset Management Plan | Other | 0.73% | 3,441,830 | 847,000 | 0 | 3,441,830 | | Industrial and Commercial Bank of China Co., Ltd. - Jinxin Stable Strategy Flexible Allocation Mixed Initiated Securities Investment Fund | Other | 0.63% | 2,960,000 | 970,000 | 0 | 2,960,000 | | Chen Hui | Domestic Natural Person | 0.56% | 2,611,618 | 0 | 1,958,713 | 652,905 | - Fujian Institute of Research on the Structure of Matter, Chinese Academy of Sciences, is the company's actual controller and controlling shareholder; Chen Hui is the company's chairman, and there is no related party relationship or concerted action relationship between them[121](index=121&type=chunk) [IV. Changes in Shareholdings of Directors, Supervisors, and Senior Management](index=28&type=section&id=IV.%20Changes%20in%20Shareholdings%20of%20Directors%2C%20Supervisors%2C%20and%20Senior%20Management) This section states that there were no changes in the shareholdings of the company's directors, supervisors, and senior management during the reporting period, referring to the 2024 annual report for details - The shareholdings of the company's directors, supervisors, and senior management did not change during the reporting period[123](index=123&type=chunk) [V. Changes in Controlling Shareholder or Actual Controller](index=29&type=section&id=V.%20Changes%20in%20Controlling%20Shareholder%20or%20Actual%20Controller) This section states that there were no changes in the company's controlling shareholder or actual controller during the reporting period - There were no changes in the company's controlling shareholder or actual controller during the reporting period[124](index=124&type=chunk) [VI. Preferred Share Information](index=29&type=section&id=VI.%20Preferred%20Share%20Information) This section states that the company had no preferred shares during the reporting period - The company had no preferred shares during the reporting period[125](index=125&type=chunk) [Bond-Related Information](index=29&type=section&id=Seventh%20Section%20Bond-Related%20Information) This section states that the company had no bond-related information during the reporting period - The company had no bond-related information during the reporting period[127](index=127&type=chunk) [Financial Report](index=29&type=section&id=Eighth%20Section%20Financial%20Report) This section presents the company's unaudited financial statements, including balance sheets, income statements, cash flow statements, and detailed notes on accounting policies and financial items [I. Audit Report](index=29&type=section&id=I.%20Audit%20Report) This section states that the company's semi-annual financial report was unaudited - The company's semi-annual financial report was unaudited[128](index=128&type=chunk) [II. Financial Statements](index=29&type=section&id=II.%20Financial%20Statements) This section provides the company's consolidated and parent company balance sheets, income statements, cash flow statements, and statements of changes in owners' equity for the first half of 2025, comprehensively presenting its financial position, operating results, and cash flows - Financial statements include consolidated balance sheet, parent company balance sheet, consolidated income statement, parent company income statement, consolidated cash flow statement, parent company cash flow statement, consolidated statement of changes in owners' equity, and parent company statement of changes in owners' equity[129](index=129&type=chunk)[132](index=132&type=chunk)[135](index=135&type=chunk)[137](index=137&type=chunk)[140](index=140&type=chunk)[142](index=142&type=chunk)[144](index=144&type=chunk)[151](index=151&type=chunk) [III. Company Basic Information](index=46&type=section&id=III.%20Company%20Basic%20Information) This section introduces the company's registration, organizational form, headquarters, business nature, main operations, and scope of consolidated financial statements, clarifying its basic information and consolidated entities for the reporting period - The company was listed on the SME Board of the Shenzhen Stock Exchange on March 19, 2008, with stock code 002222[156](index=156&type=chunk) - As of June 30, 2025, the company's total share capital was **470.25 million shares**, registered capital was **470.25 million yuan**, and the controlling shareholder was Fujian Institute of Research on the Structure of Matter[156](index=156&type=chunk) - The company's industry is optoelectronic components, with a business scope including new material technology R&D, optoelectronic device manufacturing and sales, and optical instrument manufacturing and sales[157](index=157&type=chunk)[158](index=158&type=chunk) Subsidiaries Included in Consolidated Financial Statements for Current Period | Subsidiary Name | Subsidiary Type | Level | Shareholding Ratio (%) | Voting Rights Ratio (%) | | :--- | :--- | :--- | :--- | :--- | | Qingdao Haite Optoelectronics Technology Co., Ltd. | Controlled Subsidiary | 1 | 73.33 | 73.33 | | Fujian Ruichuang Optoelectronics Technology Co., Ltd. | Controlled Subsidiary | 1 | 61.29 | 61.29 | | Fujian Huajing Investment Co., Ltd. | Wholly-Owned Subsidiary | 1 | 100.00 | 100.00 | | Fujian Zhiqiguangzi Technology Co., Ltd. | Controlled Subsidiary | 1 | 45.79 | 45.79 | - The company's financial report was approved by the Sixth Meeting of the Seventh Board of Directors on August 27, 2025[160](index=160&type=chunk) [IV. Basis of Financial Statement Preparation](index=47&type=section&id=IV.%20Basis%20of%20Financial%20Statement%20Preparation) This section explains that the financial statements are prepared in accordance with enterprise accounting standards and CSRC regulations, on a going concern basis, using the accrual basis and historical cost measurement principles - Financial statements are prepared in accordance with Enterprise Accounting Standards issued by the Ministry of Finance and CSRC's "Information Disclosure Compilation Rules for Companies Issuing Securities No. 15" [161](index=161&type=chunk) - The company evaluated its going concern ability for 12 months from the end of the reporting period, found no significant doubts, and prepared financial statements on a going concern basis[162](index=162&type=chunk) - Accounting is based on the accrual basis, and historical cost is used as the measurement basis, except for certain financial instruments measured at fair value[163](index=163&type=chunk) [V. Significant Accounting Policies and Estimates](index=48&type=section&id=V.%20Significant%20Accounting%20Policies%20and%20Estimates) This section details the company's significant accounting policies and estimates, covering business combinations, financial instruments, asset impairment, revenue recognition, and government grants, and highlights key estimates and assumptions that may significantly impact financial statements - The company determines specific accounting policies and estimates for inventory valuation, bad debt provisions for receivables, depreciation of fixed assets, amortization of intangible assets, and revenue recognition timing based on its production and operation characteristics[165](index=165&type=chunk) - Key accounting estimates and assumptions include provisions for bad debts on accounts receivable and other receivables, inventory impairment estimates, long-term asset impairment estimates, estimated useful lives and net salvage values of fixed assets, fair value of financial assets, and share-based payments[165](index=165&type=chunk)[166](index=166&type=chunk)[167](index=167&type=chunk) - The company's financial statements comply with enterprise accounting standards, accurately and completely reflecting its financial position, operating results, and cash flows[168](index=168&type=chunk) - The company defines a business cycle as 12 months and uses RMB as its functional currency[169](index=169&type=chunk)[170](index=170&type=chunk)[171](index=171&type=chunk) - Detailed accounting treatments for business combinations under common control and non-common control are explained, along with control criteria and consolidated financial statement preparation methods[173](index=173&type=chunk)[174](index=174&type=chunk)[175](index=175&type=chunk)[176](index=176&type=chunk)[177](index=177&type=chunk)[178](index=178&type=chunk)[179](index=179&type=chunk)[180](index=180&type=chunk)[181](index=181&type=chunk)[182](index=182&type=chunk)[183](index=183&type=chunk)[184](index=184&type=chunk) - Financial instruments are classified into three categories: measured at amortized cost, measured at fair value through other comprehensive income, and measured at fair value through profit or loss, with detailed explanations of recognition, measurement, and impairment methods[190](index=190&type=chunk)[191](index=191&type=chunk)[192](index=192&type=chunk)[193](index=193&type=chunk)[194](index=194&type=chunk)[195](index=195&type=chunk)[196](index=196&type=chunk)[197](index=197&type=chunk)[198](index=198&type=chunk)[199](index=199&type=chunk)[200](index=200&type=chunk)[201](index=201&type=chunk)[202](index=202&type=chunk)[203](index=203&type=chunk)[204](index=204&type=chunk)[206](index=206&type=chunk)[207](index=207&type=chunk)[208](index=208&type=chunk)[209](index=209&type=chunk)[210](index=210&type=chunk)[211](index=211&type=chunk) - Fixed assets are depreciated using the straight-line method, with buildings and structures depreciated over **30 years**, machinery and equipment over **10 years**, precious metals over **5-20 years**, transportation equipment over **10 years**, and office equipment over **5 years**[236](index=236&type=chunk) - Intangible assets include office software, land use rights, patents, and non-patented technologies, amortized using the straight-line method, with land use rights amortized over **50 years**, patents over **7-10 years**, and office software over **5 years**[245](index=245&type=chunk) - Revenue is recognized when the customer obtains control of the related goods or services, at the transaction price allocated to the performance obligation[263](index=263&type=chunk)[265](index=265&type=chunk) - Government grants are classified as asset-related or income-related; asset-related grants are recognized as deferred income and amortized over the asset's useful life, while income-related grants are recognized in profit or loss or offset against costs based on the compensation period[268](index=268&type=chunk)[269](index=269&type=chunk)[270](index=270&type=chunk) [VI. Taxation](index=88&type=section&id=VI.%20Taxation) This section discloses the company's and its subsidiaries' main tax categories and rates, detailing income tax preferential policies for high-tech enterprises, R&D expense super deduction, and VAT super deduction for advanced manufacturing enterprises Main Tax Categories and Rates | Tax Category | Tax Base | Tax Rate | | :--- | :--- | :--- | | Value-Added Tax | Value added during sales of goods | 9%, 13% | | Urban Maintenance and Construction Tax | Amount of turnover tax payable | 5% | | Enterprise Income Tax | Taxable income | 15% or 25% | | Education Surcharge | Amount of turnover tax payable | 3% | | Local Education Surcharge | Amount of turnover tax payable | 2% | - The company's headquarters, Qingdao Haite Optoelectronics Technology Co., Ltd., and Fujian Ruichuang Optoelectronics Technology Co., Ltd. are all recognized as high-tech enterprises, with an actual enterprise income tax rate of **15%** for 2025[282](index=282&type=chunk)[283](index=283&type=chunk)[284](index=284&type=chunk) - Manufacturing enterprises can enjoy a **100%** super deduction for R&D expenses before tax, and intangible assets formed are amortized at **200%** of cost before tax[284](index=284&type=chunk) - The company and some subsidiaries enjoy a **5%** additional deduction for input VAT for advanced manufacturing enterprises[285](index=285&type=chunk) [VII. Notes to Consolidated Financial Statement Items](index=89&type=section&id=VII.%20Notes%20to%20Consolidated%20Financial%20Statement%20Items) This section provides detailed notes on major consolidated financial statement items, including monetary funds, trading financial assets, accounts receivable, inventories, fixed assets, construction in progress, intangible assets, short-term borrowings, accounts payable, employee compensation payable, operating revenue, and costs, with period-end and period-beginning balances and explanations Monetary Funds | Item | Ending Balance (yuan) | Beginning Balance (yuan) | | :--- | :--- | :--- | | Cash on Hand | 287,996.55 | 375,350.23 | | Bank Deposits | 322,979,284.96 | 290,841,820.14 | | Other Monetary Funds | 19,179,763.12 | 19,917,073.56 | | **Total** | **342,447,044.63** | **311,134,243.93** | - Of other monetary funds, **18,830,788.60 yuan** is for letter of guarantee deposits, which are restricted cash[288](index=288&type=chunk) Operating Revenue and Operating Cost | Item | Current Period Revenue (yuan) | Current Period Cost (yuan) | Prior Period Revenue (yuan) | Prior Period Cost (yuan) | | :--- | :--- | :--- | :--- | :--- | | Main Business | 518,219,165.22 | 253,712,432.34 | 438,785,852.03 | 194,851,006.10 | | Other Business | 844,205.93 | 795,151.85 | 710,358.77 | 277,119.95 | | **Total** | **519,063,371.15** | **254,507,584.19** | **439,496,210.80** | **195,128,126.05** | R&D Expenses | Item | Current Period Amount (yuan) | Prior Period Amount (yuan) | | :--- | :--- | :--- | | Personnel Costs | 29,663,244.38 | 27,034,543.38 | | Direct Input | 15,332,483.49 | 9,212,434.40 | | Depreciation and Amortization of Long-Term Expenses | 7,281,794.34 | 6,013,468.60 | | Testing and Laboratory Processing Fees | 590,518.25 | 231,840.94 | | Travel Expenses | 111,442.71 | 191,057.39 | | Intellectual Property Fees | 281,555.86 | 169,463.79 | | Entertainment Expenses | 1,684.00 | 15,530.51 | | Other Expenses | 657,782.42 | 642,633.66 | | **Total** | **53,920,505.45** | **43,510,972.67** | Reconciliation of Net Cash Flow from Operating Activities | Supplementary Information | Current Period Amount (yuan) | Prior Period Amount (yuan) | | :--- | :--- | :--- | | Net Profit | 138,086,016.67 | 114,328,732.64 | | Add: Asset Impairment Provisions | 3,280,025.51 | 4,501,565.18 | | Depreciation of Fixed Assets, Depletion of Oil and Gas Assets, Depreciation of Productive Biological Assets | 35,013,641.54 | 30,306,879.87 | | Depreciation of Right-of-Use Assets | 5,493,143.05 | 3,372,144.00 | | Amortization of Intangible Assets | 1,653,079.39 | 1,227,046.46 | | Amortization of Long-Term Deferred Expenses | 4,900,412.76 | 4,686,344.89 | | Losses (Gains are indicated by "－") from Disposal of Fixed Assets, Intangible Assets, and Other Long-Term Assets | -36,489.80 | 73,890.13 | | Losses (Gains are indicated by "－") from Scrapping Fixed Assets | 45,269.34 | 115,568.43 | | Fair Value Change Losses (Gains are indicated by "－") | -1,121,968.34 | 11,759,303.63 | | Financial Expenses (Gains are indicated by "－") | 1,276,632.57 | 303,686.69 | | Investment Losses (Gains are indicated by "－") | -3,067,351.89 | -1,324,431.66 | | Decrease in Deferred Income Tax Assets (Increase is indicated by "－") | 1,117,148.18 | 2,891,334.25 | | Increase in Deferred Income Tax Liabilities (Decrease is indicated by "－") | -984,432.41 | -1,639,571.14 | | Decrease in Inventories (Increase is indicated by "－") | -10,252,409.26 | -43,886,509.08 | | Decrease in Operating Receivables (Increase is indicated by "－") | -50,949,653.27 | -69,790,247.60 | | Increase in Operating Payables (Decrease is indicated by "－") | 10,977,907.30 | 31,271,674.02 | | **Net Cash Flow from Operating Activities** | **135,430,971.34** | **88,197,410.71** | [VIII. Research and Development Expenses](index=117&type=section&id=VIII.%20Research%20and%20Development%20Expenses) This section discloses the company's total R&D expenses for the reporting period as **53.92 million yuan**, all expensed, representing a **23.92% increase** year-on-year, reflecting continuous commitment to R&D investment R&D Expenses | Item | Current Period Amount (yuan) | Prior Period Amount (yuan) | | :--- | :--- | :--- | | R&D Expenses | 53,920,505.45 | 43,510,972.67 | | **Total** | **53,920,505.45** | **43,510,972.67** | | Of which: Expensed R&D Expenditure | 53,920,505.45 | 43,510,972.67 | - All R&D expenditures for the current period were expensed, with no capitalized R&D expenditures[450](index=450&type=chunk) [IX. Changes in Consolidation Scope](index=117&type=section&id=IX.%20Changes%20in%20Consolidation%20Scope) This section states that there were no changes in the company's consolidation scope during the reporting period - There were no changes in the company's consolidation scope during the reporting period[451](index=451&type=chunk) [X. Interests in Other Entities](index=117&type=section&id=X.%20Interests%20in%20Other%20Entities) This section details the company's interests in subsidiaries, joint ventures, and associates, including the group structure, financial information of significant non-wholly-owned subsidiaries, and key financial data of important associates, clarifying control and sign

Group 1 - The core point of the article is that 福晶科技 has seen a decrease in the number of shareholders and an increase in stock price, alongside positive financial performance in the first quarter [2][3] Group 2 - As of August 20, the number of 福晶科技 shareholders was 47,198, a decrease of 3,411 from the previous period, representing a decline of 6.74% [2] - The closing price of 福晶科技 was 44.48 yuan, reflecting an increase of 5.63%, with a cumulative increase of 10.29% since the concentration of shares began [2] - In the first quarter, 福晶科技 achieved operating revenue of 239 million yuan, a year-on-year increase of 15.22%, and a net profit of 49.91 million yuan, a year-on-year increase of 3.36% [2] - The basic earnings per share were 0.1061 yuan, and the weighted average return on net assets was 3.12% [2]

Core Viewpoint - The optical and optoelectronic sector experienced a significant increase, with a 2.03% rise on August 22, led by Helitai's strong performance [1] Group 1: Market Performance - The Shanghai Composite Index closed at 3825.76, up 1.45% [1] - The Shenzhen Component Index closed at 12166.06, up 2.07% [1] - Helitai (002217) led the sector with a closing price of 3.07, reflecting a 10.04% increase [1] Group 2: Stock Performance - The following stocks showed notable gains: - Chanzhan Optoelectronics (003019) closed at 43.55, up 8.60% [1] - Chenglai Optics (688502) closed at 438.00, up 8.01% [1] - Wavelength Optoelectronics (301421) closed at 89.77, up 7.10% [1] - Lianjian Optoelectronics (300269) closed at 5.83, up 6.97% [1] - Fuzhen Technology (002222) closed at 44.48, up 5.63% [1] - Aobi Zhongguang (688322) closed at 83.28, up 5.38% [1] - Gebijia (835438) closed at 45.00, up 4.65% [1] - Fuguang Co., Ltd. (688010) closed at 34.74, up 4.45% [1] - Tianshan Electronics (301379) closed at 27.76, up 4.13% [1] Group 3: Capital Flow - The optical and optoelectronic sector saw a net inflow of 889 million yuan from main funds [3] - Retail investors contributed a net inflow of 54.79 million yuan, while speculative funds experienced a net outflow of 944 million yuan [3]

来源：金融界 天眼查商业履历信息显示，福建福晶科技股份有限公司，成立于2001年，位于福州市，是一家以从事计 算机、通信和其他电子设备制造业为主的企业。企业注册资本47025万人民币，实缴资本9322.5万人民 币。公司法定代表人为陈辉。 通过天眼查大数据分析，福建福晶科技股份有限公司共对外投资了9家企业，参与招投标项目103次，知 识产权方面有商标信息2条，专利信息440条，此外企业还拥有行政许可13个。 金融界消息 截至2025年8月15日收盘，福晶科技（002222）报收于41.62元，上涨0.53%，换手率 2.35%，成交量10.98万手，成交金额4.57亿元。 资金流向方面，今日主力资金净流出1832.44万元，占比成交额4.01%。其中，超大单净流出3129.46万 元、占成交额6.85%，大单净流入1297.02万元、占成交额2.84%，中单净流出流入1420.88万元、占成交 额3.11%，小单净流入411.56万元、占成交额0.9%。 福晶科技最新一期业绩显示，截至2025一季报，公司营业总收入2.39亿元、同比增长15.22%，归属净利 润4991.45万元，同比增长3.36%，扣非净利 ...

证券之星消息，8月13日光学光电子板块较上一交易日上涨0.33%，八亿时空领涨。当日上证指数报收于 3683.46，上涨0.48%。深证成指报收于11551.36，上涨1.76%。光学光电子板块个股涨跌见下表： | 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | | --- | --- | --- | --- | --- | --- | --- | | 688181 | 八亿时空 | 35.90 | 7.74% | 16.32万 | | 5.73亿 | | 002222 | 福晶科技 | 42.32 | 5.14% | 22.72万 | | 9.42 G | | 300889 | 爰克股份 | 16.16 | 4.80% | 10.45万 | | 1.68 Z | | 301183 | 东田微 | 68.21 | 4.12% | ﺎ 11.85万 | | 8.06亿 | | 002992 | 宝明科技 | 65.02 | 2.99% | 4.18万 | | 2.68亿 | | 300582 | 英飞特 | 14.42 | 2.41% | 15.18万 | | 2.19亿 | ...

Market Overview - The optical and optoelectronic sector rose by 0.54% on August 4, with Baoming Technology leading the gains [1] - The Shanghai Composite Index closed at 3583.31, up 0.66%, while the Shenzhen Component Index closed at 11041.56, up 0.46% [1] Top Performers - Baoming Technology (002992) closed at 64.00, up 6.56% with a trading volume of 58,500 shares and a transaction value of 366 million [1] - Fuzhijing Technology (002222) closed at 40.39, up 5.02% with a trading volume of 215,700 shares and a transaction value of 860 million [1] - ST Yushun (002289) closed at 21.38, up 5.01% with a trading volume of 57,400 shares and a transaction value of 122 million [1] Underperformers - Chenfeng Technology (603685) closed at 15.21, down 3.37% with a trading volume of 78,300 shares [2] - Aorui Technology (600666) closed at 3.92, down 2.97% with a trading volume of 2,230,600 shares and a transaction value of 873 million [2] - Dongtian Micro (301183) closed at 64.59, down 1.90% with a trading volume of 83,800 shares and a transaction value of 539 million [2] Capital Flow - The optical and optoelectronic sector experienced a net outflow of 50.83 million from institutional investors, while retail investors saw a net inflow of 328 million [2] - The sector's overall capital flow indicates a mixed sentiment among different investor types [2] Individual Stock Capital Flow - O-film (002456) had a net inflow of 201 million from institutional investors, while it faced a net outflow of 60.02 million from retail investors [3] - Fuzhijing Technology (002222) saw a net inflow of 83.78 million from institutional investors but a net outflow of 90.93 million from retail investors [3] - Baoming Technology (002992) had a net inflow of 10.49 million from institutional investors, with a slight net outflow from retail investors [3]

通过天眼查大数据分析，福建福晶科技股份有限公司共对外投资了9家企业，参与招投标项目103次，知 识产权方面有商标信息2条，专利信息439条，此外企业还拥有行政许可13个。 金融界消息 截至2025年8月4日收盘，福晶科技（002222）报收于40.39元，上涨5.02%，换手率4.61%， 成交量21.57万手，成交金额8.60亿元。 来源：金融界 资金流向方面，今日主力资金净流入8378.29万元，占比成交额9.75%。其中，超大单净流入5236.90万 元、占成交额6.09%，大单净流入3141.39万元、占成交额3.65%，中单净流出流入714.90万元、占成交 额0.83%，小单净流出9093.19万元、占成交额10.58%。 福晶科技最新一期业绩显示，截至2025一季报，公司营业总收入2.39亿元、同比增长15.22%，归属净利 润4991.45万元，同比增长3.36%，扣非净利润4935.49万元，同比增长4.74%，流动比率7.529、速动比率 5.560、资产负债率14.01%。 天眼查商业履历信息显示，福建福晶科技股份有限公司，成立于2001年，位于福州市，是一家以从事计 算机、通信和其他电 ...

Market Overview - On August 1, the optical optoelectronics sector rose by 0.17% compared to the previous trading day, with Geberga leading the gains [1] - The Shanghai Composite Index closed at 3559.95, down 0.37%, while the Shenzhen Component Index closed at 10991.32, down 0.17% [1] Top Gainers in Optical Optoelectronics - Geberga (835438) closed at 22.23, up 8.54% with a trading volume of 150,000 shares and a turnover of 324 million yuan [1] - Yingfeite (300582) closed at 14.13, up 7.21% with a trading volume of 257,800 shares and a turnover of 357 million yuan [1] - Aorui De (600666) closed at 4.04, up 6.32% with a trading volume of 3,122,200 shares and a turnover of 1.227 billion yuan [1] Top Losers in Optical Optoelectronics - Dongtianwei (301183) closed at 65.84, down 6.56% with a trading volume of 105,400 shares and a turnover of 703 million yuan [2] - Tengjing Technology (688195) closed at 46.76, down 3.49% with a trading volume of 59,500 shares and a turnover of 281 million yuan [2] - Aobi Zhongguang (688322) closed at 72.38, down 2.02% with a trading volume of 79,700 shares and a turnover of 584 million yuan [2] Fund Flow Analysis - The optical optoelectronics sector experienced a net outflow of 448 million yuan from institutional investors, while retail investors saw a net inflow of 403 million yuan [2] - Major stocks like Sanan Optoelectronics (600703) had a net inflow of 10.4 million yuan from institutional investors, but a net outflow from retail investors [3] Individual Stock Fund Flow - Sanan Optoelectronics (600703) had a net inflow of 10.4 million yuan from institutional investors, while retail investors experienced a net outflow of approximately 96.9 million yuan [3] - Yingfeite (300582) saw a net inflow of 36.1 million yuan from institutional investors, with retail investors also experiencing a net outflow [3]

金融界消息 截至2025年7月30日收盘，福晶科技（002222）报收于39.18元，下跌1.95%，换手率 4.14%，成交量19.39万手，成交金额7.62亿元。 资金流向方面，今日主力资金净流出6548.39万元，占比成交额8.6%。其中，超大单净流出4803.39万 元、占成交额6.3%，大单净流出1745.00万元、占成交额2.29%，中单净流出流出1122.27万元、占成交 额1.47%，小单净流入7670.66万元、占成交额10.07%。 福晶科技最新一期业绩显示，截至2025一季报，公司营业总收入2.39亿元、同比增长15.22%，归属净利 润4991.45万元，同比增长3.36%，扣非净利润4935.49万元，同比增长4.74%，流动比率7.529、速动比率 5.560、资产负债率14.01%。 天眼查商业履历信息显示，福建福晶科技股份有限公司，成立于2001年，位于福州市，是一家以从事计 算机、通信和其他电子设备制造业为主的企业。企业注册资本47025万人民币，实缴资本9322.5万人民 币。公司法定代表人为陈辉。 通过天眼查大数据分析，福建福晶科技股份有限公司共对外投资了9家企业，参与招 ...

Summary of Fuzhijian Technology Conference Call Company Overview - Fuzhijian Technology is a leading global player in the nonlinear crystal market, holding over 70% market share with core products including BBO and LBO crystals invented by the Institute of Physics, Chinese Academy of Sciences [2][5][12] - The company’s product line includes nonlinear optical crystals, precision optical components, and laser devices, with applications in laser systems, semiconductor equipment, LiDAR, and communication systems [2][8] Financial Performance - The company has maintained a revenue growth rate of 10%-20% over the past few years, with an overall gross margin around 50% and an operating profit margin between 20%-30% [2][13] - Fuzhijian Technology expects to achieve over 200 million RMB in profit by 2025, with continued steady growth projected for 2026 [3][21] - The subsidiary Zhixi Photon is expected to see rapid revenue growth, projecting revenues of 150 million RMB by 2025, more than doubling from previous figures [20] Market Dynamics - The laser market is closely tied to the overall economic and industrial recovery, with Fuzhijian Technology benefiting from both domestic and international markets [2][14] - The advanced semiconductor market remains a core focus, with significant attention on advanced processes and related equipment such as photolithography machines [4] Competitive Advantages - Fuzhijian Technology's unique advantages in the optical field include its strong position in nonlinear crystals and its focus on high-precision optical components, which are critical for domestic high-end semiconductor equipment [5][14] - The company produces key laser materials such as LBO, BBO, and KTP, which are essential for high-end semiconductor applications due to their unique wavelength characteristics [15][16] Product Applications - The company’s products are categorized into three main types: nonlinear optical crystals, precision optical components, and laser devices, with extensive applications across various fields [8] - Nonlinear and laser crystals are used for frequency conversion and power amplification, while precision optical components are crucial in various applications including eyewear, laser systems, and communication systems [9][10] Technical Challenges - Crystal growth involves significant technical challenges, requiring high precision to ensure the final product is transparent and defect-free [17] Future Outlook - Fuzhijian Technology is well-positioned to capitalize on the increasing demand for high-end precision optical components driven by the semiconductor equipment market [21]