证券代码：002869 证券简称：金溢科技 公告编号：2024-044 深圳市金溢科技股份有限公司 第四届董事会第十次会议决议公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚 假记载、误导性陈述或重大遗漏。 一、董事会会议召开情况 深圳市金溢科技股份有限公司（以下简称"公司"）第四届董事会第十次会 议于 2024 年 10 月 25 日以现场表决方式召开，本次会议已于 2024 年 10 月 21 日以电话、电子邮件和专人送达方式通知各位董事及参会人员。会议应出席董事 7 人，实际出席董事 7 人，公司全体董事出席会议，公司全体监事、高级管理人 员列席本次会议。会议由董事长罗瑞发先生召集并主持。本次会议的通知、召集、 召开和表决程序符合《公司法》等法律法规、规范性文件和《公司章程》的有关 规定，会议决议合法有效。 二、董事会会议审议情况 （一）审议通过了《深圳市金溢科技股份有限公司 2024 年第三季度报告》； 表决结果：同意 7 票，反对 0 票，弃权 0 票。 本议案已经公司董事会审计及预算审核委员会审议通过。 三、备查文件 特此公告。 深圳市金溢科技股份有限公司董事会 具体内容详见 ...

证券代码：002869 证券简称：金溢科技 公告编号：2024-046 深圳市金溢科技股份有限公司 关于聘任公司证券事务代表的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚 假记载、误导性陈述或重大遗漏。 深圳市金溢科技股份有限公司（以下简称"公司"）于 2024 年 10 月 25 日 召开第四届董事会第十次会议，会议审议通过了《关于聘任公司证券事务代表的 议案》。董事会同意聘任刘振环女士为公司证券事务代表（简历见附件），协助 董事会秘书履行职责，任期自本次董事会审议通过之日起至公司第四届董事会任 期届满之日止。 刘振环女士已经取得深圳证券交易所颁发的《上市公司董事会秘书培训证 明》，具备相关的专业能力，其任职资格符合《深圳证券交易所股票上市规则》 等相关规定。刘振环女士简历详见附件。 公司证券事务代表联系方式如下： 电话：0755-26624127 传真：0755-86936239 邮箱：ir@genvict.com 办公地址：深圳市南山区粤海街道高新区社区科技南路 16 号深圳湾科技生 态园 11 栋 A 座 20 层。 特此公告。 证券代码：002869 证券简称：金溢科技 公 ...

Financial Performance - Revenue for Q3 2024 was CNY 124,398,705.61, a decrease of 2.54% compared to the same period last year[3] - Net profit attributable to shareholders was CNY 15,526,214.05, down 15.15% year-on-year[3] - Basic earnings per share were CNY 0.0894, reflecting a decrease of 12.27% compared to the previous year[3] - Total operating revenue for Q3 2024 was CNY 352,436,264.24, a slight increase from CNY 350,070,991.84 in Q3 2023, representing a growth of approximately 0.7%[18] - Net profit for Q3 2024 reached CNY 31,090,089.86, up from CNY 26,481,300.77 in Q3 2023, reflecting a growth of approximately 17.5%[19] - The net profit attributable to shareholders of the parent company for Q3 2024 was ¥31,090,089.86, an increase from ¥26,481,300.77 in the same period last year, representing a growth of approximately 17.5%[20] - Basic and diluted earnings per share for Q3 2024 were both ¥0.1791, up from ¥0.1475 in Q3 2023, indicating an increase of about 21.5%[20] Assets and Liabilities - Total assets at the end of the reporting period were CNY 2,573,056,529.14, a decrease of 4.64% from the end of the previous year[3] - The total assets as of Q3 2024 amounted to CNY 2,573,056,529.14, a decrease from CNY 2,698,351,695.63 at the end of Q3 2023, representing a decline of about 4.6%[17] - Current liabilities totaled CNY 337,458,119.80 in Q3 2024, down from CNY 489,167,731.40 in Q3 2023, indicating a reduction of approximately 30.9%[16] - The company's total equity increased to CNY 2,149,473,072.71 in Q3 2024 from CNY 2,120,293,740.98 in Q3 2023, reflecting a growth of approximately 1.4%[17] Cash Flow - Cash flow from operating activities showed a net loss of CNY 100,448,764.17, a significant decline of 398.75% year-on-year[3] - Cash flow from operating activities for Q3 2024 showed a net outflow of ¥100,448,764.17, a significant decline compared to a net inflow of ¥33,623,416.66 in Q3 2023[22] - Cash inflow from investment activities for Q3 2024 was ¥1,175,280,820.82, compared to ¥770,027,894.40 in the previous year, marking an increase of approximately 52.5%[22] - The net cash flow from investment activities for Q3 2024 was ¥262,212,394.15, a recovery from a net outflow of ¥161,292,508.70 in Q3 2023[23] - Cash flow from financing activities resulted in a net outflow of ¥154,532,651.79 in Q3 2024, contrasting with a net inflow of ¥75,881,789.08 in the same period last year[23] Shareholder Information - The total number of common shareholders at the end of the reporting period is 44,539[9] - The largest shareholder, Shenzhen Minxing Electronics, holds 17.05% of shares, totaling 30,615,600 shares[9] - The company’s controlling shareholder transferred 14,236,900 unrestricted shares, accounting for 7.93% of the total share capital, back to a regular securities account[10] - The company has completed the second unlock period of its 2022 restricted stock incentive plan, allowing 162,000 shares to be released, which is 0.9022% of the total share capital[11] - The company is actively monitoring shareholder relationships and potential actions regarding financing and securities lending[10] Other Financial Metrics - Total assets at the end of the reporting period were CNY 2,573,056,529.14, a decrease of 4.64% from the end of the previous year[3] - Cash and cash equivalents at the end of the reporting period amount to ¥983,251,708.08, an increase from ¥963,610,485.74 at the beginning of the period[14] - Accounts receivable increased to ¥431,904,360.05 from ¥358,136,787.91, indicating a growth of approximately 20.5%[14] - The company’s trading financial assets decreased to ¥318,165,798.15 from ¥539,301,738.48, a decline of about 41%[14] - The company reported a significant decrease in employee compensation liabilities, which fell to CNY 10,548,130.93 from CNY 27,701,116.27 year-over-year, a reduction of about 61.9%[16] - Research and development expenses for Q3 2024 were CNY 38,704,787.98, slightly down from CNY 39,342,375.66 in Q3 2023, indicating a decrease of about 1.6%[19] Legal and Regulatory Matters - The arbitration case with Shenzhen Gallium Microelectronics resulted in the rejection of their claims, with arbitration costs of ¥137,495 to be borne by them[12] - The company has not disclosed any new product launches or significant market expansion strategies in the current report[24]

截至本公告披露日，敏行电子及其一致行动人合计持有公司股份 37,704,850 股，占公司总股本的 21.00%。其中，敏行电子通过招商证券融资融券信用交易 担保账户持有公司股份 7,000,000 股，占其所持有公司股份总数的 22.86%，占其 及其一致行动人所持有公司股份总数的 18.57%，占公司总股本的 3.90%。 特此公告。 深圳市金溢科技股份有限公司董事会 2024 年 10 月 24 日 证券代码：002869 证券简称：金溢科技 公告编号：2024-042 深圳市金溢科技股份有限公司 关于控股股东开展融资融券业务的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚 假记载、误导性陈述或重大遗漏。 深圳市金溢科技股份有限公司（以下简称"公司"或"金溢科技"）于近日 接到控股股东深圳市敏行电子有限公司（以下简称"敏行电子"）关于开展融资 融券业务的通知。敏行电子持有公司股份 30,615,600 股，占公司总股本的 17.05%； 敏行电子的一致行动人，公司实际控制人、董事长罗瑞发先生及其一致行动人曾 晓女士分别持有公司股份 6,939,350 股、149,900 股，分别 ...

Investment Rating - The report assigns an "Outperform" rating to the company with a 2024 target price of RMB 28.35 [4][9] Core Views - The company is expected to benefit from the accelerating development of the intelligent connected vehicle and car-road collaboration industries, driven by favorable government policies [4][9] - The company has a deep layout in the car-road collaboration industry chain, including V2X series products, V2X edge system integration products, cloud platforms, and C-V2X in-vehicle HMI systems [2][9] - The digital transformation of smart highways is accelerating, with government support aiming to improve demonstration channel efficiency by 20% and emergency response efficiency by 30% [2][9] Financial Performance - 2024 H1 revenue reached RMB 228 million, up 2.52% YoY, with net profit attributable to shareholders at RMB 16 million, up 90.19% YoY [1][9] - 2024 H1 gross profit margin improved to 36.40% from 31.36% last year, driven by product sales structure adjustment [1][9] - 2024 H1 smart highway revenue was RMB 162 million, down 14.41% YoY, while automotive electronics revenue surged 147.82% YoY to RMB 54 million [1][9] Industry Trends - The intelligent connected vehicle industry is entering a critical period, with over 32,000 kilometers of open test roads and over 7,700 test licenses issued as of July 2024 [2][9] - 20 cities, including Beijing, Wuhan, and Chongqing, are accelerating car-road-cloud integration, marking a significant step in the industrialization of intelligent connected vehicles [2][9] - The government aims to support 30 demonstration areas over three years, targeting 85% of busy national highways, 25% of busy national roads, and 70% of important national high-grade waterways for digital transformation [2][9] Business Segments - The company's products are mainly used in the car-road collaboration industry chain, with customers including traditional car manufacturers, NEV manufacturers, internet car companies, highway owners, and smart city pilot areas [4][9] - The company's smart highway segment accounted for 71.09% of 2024 H1 revenue, while automotive electronics contributed 23.67% [1][9] - The company is expected to see continued growth in its automotive electronics segment, with a projected 45% YoY revenue increase in 2025 [6] Valuation and Forecasts - The company's 2024-2026 net profit is forecasted to be RMB 78/114/148 million, with EPS of RMB 0.44/0.64/0.82 [4][9] - The company's 2024E revenue is projected to reach RMB 592 million, with a 15.5% YoY growth, and 2025E revenue is expected to grow 46.9% YoY to RMB 870 million [3][6] - The company's 2024E gross profit margin is forecasted at 35.8%, with a gradual improvement to 37.7% by 2026 [3][6]

Investment Rating - The report assigns an "Outperform" rating to the company [5] Core Views - The company is expected to benefit significantly from the acceleration of the vehicle-road coordination industry due to its deep industrial chain layout [1] - The company's 2024H1 revenue was RMB 228 million, up 2.52% YoY, with net profit attributable to the parent company reaching RMB 16 million, a 90.19% YoY increase [5] - The gross margin improved to 36.40% in 2024H1, driven by a shift in product mix towards higher-margin RSU and intelligent toll collection robot products [5] - The company's vehicle-road coordination business is expected to grow rapidly, supported by favorable government policies and increasing demand for smart transportation solutions [5][6] Financial Performance - 2024H1 revenue breakdown: Smart Highway (71.09%, RMB 162 million), Automotive Electronics (23.67%, RMB 54 million), Smart City (3.34%, RMB 8 million) [5] - Revenue is forecasted to grow from RMB 512 million in 2023 to RMB 1,125 million in 2026, with a CAGR of 29.4% [5][8] - Net profit is expected to increase from RMB 49 million in 2023 to RMB 148 million in 2026, with a CAGR of 29.5% [5][8] - Gross margin is projected to rise from 35.1% in 2023 to 37.7% in 2026 [8] Industry and Policy Context - The government has issued policies to accelerate the digital transformation of transportation infrastructure, aiming to upgrade 85% of busy national highways and 70% of important national waterways by 2027 [4] - The Ministry of Industry and Information Technology has opened over 32,000 km of intelligent connected vehicle test roads and issued more than 7,700 test licenses [4] - The "Vehicle-Road-Cloud Integration" pilot program is being implemented in 20 cities, including Beijing, Shanghai, and Shenzhen, marking a significant step in the industrialization of intelligent connected vehicles [4] Valuation and Peer Comparison - The company's 2024E PE ratio is 50.85x, slightly higher than the peer average of 50.83x [7] - The report suggests a fair value range of RMB 26.17-28.35 for 2024, based on a PE multiple of 60-65x [6] Business Segments - Smart Highway: Expected to grow from RMB 393 million in 2023 to RMB 882 million in 2026, with a CAGR of 30% [8] - Automotive Electronics: Projected to increase from RMB 84 million in 2023 to RMB 178 million in 2026, with a CAGR of 30% [8] - Smart City: Anticipated to grow from RMB 25 million in 2023 to RMB 47 million in 2026, with a CAGR of 20% [8]

证券代码：002869 证券简称：金溢科技 公告编号：2024-041 深圳市金溢科技股份有限公司 关于公司控股股东部分股份质押的公告 截至本公告披露日，敏行电子及其一致行动人累计质押的股份情况如下： 1 单位：股 股东 名称 持股数量 持股 比例 （%） 本次质押前 质押股份数 量 本次质押后 质押股份数 量 占其所 持股份 比例 （%） 占公司 总股本 比例 （%） 已质押股份 情况 未质押股份 情况 已质押股 份限售和 冻结、标 记数量 占已质 押股份 比例 （%） 未质押股 份限售和 冻结数量 占未质 押股份 比例 （%） 敏行 电子 30,615,600 17.05 11,670,000 14,670,000 47.92 8.17 0 0.00 0 0.00 罗瑞发 6,939,350 3.86 1,960,000 1,960,000 28.24 1.09 1,960,000 100.00 3,244,512 65.16 曾晓 149,900 0.08 0 0 0.00 0.00 0 0.00 0 0.00 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚 假记载、误导性陈述或重大遗 ...

证券代码：002869 证券简称：金溢科技 公告编号：2024-040 深圳市金溢科技股份有限公司 关于控股股东解除融资融券业务的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚 假记载、误导性陈述或重大遗漏。 深圳市金溢科技股份有限公司董事会 2024 年 9 月 14 日 深圳市金溢科技股份有限公司（以下简称"公司"）于近日接到控股股东深 圳市敏行电子有限公司（以下简称"敏行电子"）关于解除融资融券业务的通知。 现将有关情况公告如下： 2023 年 11 月，敏行电子将其持有的公司无限售流通股 14,236,900 股（占公 司总股本的 7.93%）转入其在招商证券股份有限公司（以下简称"招商证券"） 开立的客户信用交易担保证券账户中，该部分股份所有权未发生转移。具体内容 详见公司于 2023 年 11 月 25 日刊登在《证券时报》《证券日报》《中国证券报》 及巨潮资讯网（http://www.cninfo.com.cn）上的《关于控股股东开展融资融券业 务的公告》（公告编号：2023-082）。 敏行电子于近日将其持有的上述公司无限售流通股 14,236,900 股从其在招 商证 ...

证券代码：002869 证券简称：金溢科技 公告编号：2024-039 深圳市金溢科技股份有限公司 关于 2022 年限制性股票激励计划第二个解除限售期 解除限售股份上市流通的提示性公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚 假记载、误导性陈述或重大遗漏。 重要内容提示： 1、本次 2022 年限制性股票激励计划符合解除限售条件的激励对象人数为 1 名，本次可解除限售的限制性股票为 162.00 万股，占公司目前总股本的 0.9022%。 深圳市金溢科技股份有限公司（以下简称"公司"）于 2024 年 8 月 23 日召 开第四届董事会第九次会议和第四届监事会第八次会议，审议通过了《关于 2022 年限制性股票激励计划第二个解除限售期解除限售条件成就的议案》，公司 2022 年限制性股票激励计划（以下简称"本激励计划"）授予的限制性股票第二个解 除限售期符合公司《2022 年限制性股票激励计划（草案）》规定的解除限售条 件。根据相关规定，公司办理了本激励计划第二个解除限售期涉及限制性股票的 上市流通手续，符合解除限售条件的 1 名激励对象可解除限售股份 162.00 万股， 占公司 ...

[Section I Important Notice, Table of Contents and Definitions](index=2&type=section&id=Section%20I%20Important%20Notice,%20Table%20of%20Contents%20and%20Definitions) This section provides essential preliminary information, including the table of contents and key definitions for the report [Section II Company Profile and Key Financial Indicators](index=7&type=section&id=Section%20II%20Company%20Profile%20and%20Key%20Financial%20Indicators) This section outlines the company's basic information and presents a summary of its key financial performance and position during the reporting period [I. Company Profile](index=7&type=section&id=I.%20Company%20Profile) Shenzhen Goldcard Technology Co., Ltd. (stock code: 002869) is a company listed on the Shenzhen Stock Exchange, with Luo Ruifa as its legal representative Company Information | Item | Content | | :--- | :--- | | **Stock Abbreviation** | Goldcard Technology | | **Stock Code** | 002869 | | **Listing Exchange** | Shenzhen Stock Exchange | | **Company Full Name** | Shenzhen Goldcard Technology Co., Ltd. | | **Legal Representative** | Luo Ruifa | [IV. Key Accounting Data and Financial Indicators](index=8&type=section&id=IV.%20Key%20Accounting%20Data%20and%20Financial%20Indicators) During the reporting period, the company's operating revenue was **RMB 228.04 million**, increasing by **2.52%** year-on-year, while net profit attributable to shareholders significantly grew by **90.19%** to **RMB 15.56 million**, despite a **341.56%** decrease in net cash flow from operating activities to **-RMB 100 million** due to reduced sales collections and increased procurement payments Key Financial Data | Indicator | Current Period | Prior Year Period | YoY Change | | :--- | :--- | :--- | :--- | | Operating Revenue (RMB) | 228,037,558.63 | 222,427,022.45 | 2.52% | | Net Profit Attributable to Shareholders (RMB) | 15,563,875.81 | 8,183,426.73 | 90.19% | | Net Profit Attributable to Shareholders (Excluding Non-recurring Gains/Losses) (RMB) | 2,611,188.72 | -275,833.36 | 1,046.65% | | Net Cash Flow from Operating Activities (RMB) | -99,999,270.37 | 41,397,243.73 | -341.56% | | Basic Earnings Per Share (RMB/share) | 0.0897 | 0.0456 | 96.71% | | Total Assets (RMB) | 2,559,016,926.70 | 2,698,351,695.63 | -5.16% (vs. end of prior year) | [VI. Non-recurring Gains and Losses and Amounts](index=8&type=section&id=VI.%20Non-recurring%20Gains%20and%20Losses%20and%20Amounts) Non-recurring gains and losses totaled **RMB 12.95 million** during the reporting period, primarily driven by **RMB 10.77 million** from wealth management product investments and **RMB 4.74 million** in government subsidies, significantly contributing to the company's net profit growth Non-recurring Gains and Losses | Item | Amount (RMB) | Description | | :--- | :--- | :--- | | Fair value changes in financial assets held by non-financial enterprises | 10,766,870.86 | Income from the company's wealth management products | | Government grants recognized in current profit/loss | 4,742,894.97 | Industrial Internet development support program subsidies, etc | | **Total** | **12,952,687.09** | - | [Section III Management Discussion and Analysis](index=10&type=section&id=Section%20III%20Management%20Discussion%20and%20Analysis) This section provides an in-depth analysis of the company's operational performance, core competencies, financial position, and risk management strategies during the reporting period [I. Principal Businesses Engaged in During the Reporting Period](index=10&type=section&id=I.%20Principal%20Businesses%20Engaged%20in%20During%20the%20Reporting%20Period) The company specializes in smart transportation, offering integrated solutions, IoT smart hardware, and edge systems across smart highways, urban digital transportation, vehicle-road coordination, and automotive electronics, benefiting from policy-driven industry growth, particularly in 'vehicle-road-cloud integration' - The company's business focuses on four major areas: smart highways, urban digital transportation, vehicle-road coordination, and automotive electronics, providing integrated vehicle-side, road-side, and cloud-side products and services[39](index=39&type=chunk)[42](index=42&type=chunk)[43](index=43&type=chunk) - Industry development is significantly policy-driven, with 'vehicle-road-cloud integration' becoming an industry consensus, supported by joint ministerial documents and pilot applications in 20 cities like Beijing and Shanghai, signaling accelerated industrialization[37](index=37&type=chunk)[38](index=38&type=chunk) [(1) Smart Highway Business](index=13&type=section&id=(1)%20Smart%20Highway%20Business) The smart highway business, a core segment, offers comprehensive solutions including smart tolling, ETC vehicle-road coordination, holographic perception, smart tunnels, smart service areas, and smart maintenance, aiming to enhance intelligent management and ensure smooth, safe road networks [(2) Urban Digital Transportation Business](index=17&type=section&id=(2)%20Urban%20Digital%20Transportation%20Business) This business addresses urban dynamic and static traffic management, providing application solutions centered on holographic perception, RFID electronic identification, and ETC technology, such as holographic smart intersections, RFID electric two-wheeler management, and expanded ETC applications (parking, refueling, charging), to promote refined urban traffic governance [(3) Vehicle-Road Coordination Business](index=20&type=section&id=(3)%20Vehicle-Road%20Coordination%20Business) The company holds a first-mover advantage in V2X technology R&D, leading the Ministry of Transport's Intelligent Vehicle-Road Coordination R&D Center, having established a complete 'vehicle-road-cloud integration' product system and ecosystem, and collaborating with automakers and highway operators [(4) Automotive Electronics Business](index=21&type=section&id=(4)%20Automotive%20Electronics%20Business) The company actively develops new energy and intelligent connected vehicle electronics, with a product matrix covering ETC, V2X, and smart body electronics (e.g., electronic rearview mirrors, digital keys), providing automotive-grade electronic product customization and manufacturing services to vehicle manufacturers [II. Core Competitiveness Analysis](index=22&type=section&id=II.%20Core%20Competitiveness%20Analysis) The company's core competencies include R&D innovation in ETC, V2X, and RFID technologies, a 'transportation + IT' dual-gene advantage, extensive industry-academia-research collaboration, a nationwide marketing and service network, and an industry-leading smart manufacturing base in Foshan - The company is one of the few in the industry possessing all three core technologies: ETC, V2X, and RFID, participating in multiple national and industry standard formulations, and holding over **670** independent intellectual property rights[71](index=71&type=chunk) - The company possesses a 'transportation + IT' dual-gene, building four major technical foundations: 'sensing-fusion perception, computing-full-stack computing, data-digital twin, communication-vehicle-road communication'[72](index=72&type=chunk) - The company operates an industry-leading smart manufacturing base in Foshan, recognized as one of Foshan's first 'digital demonstration workshops,' capable of mass-producing automotive-grade electronic and microwave electronic products[78](index=78&type=chunk) [III. Main Business Analysis](index=24&type=section&id=III.%20Main%20Business%20Analysis) During the reporting period, the company's main business structure significantly shifted, with automotive electronics revenue surging by **147.82%** to become the primary growth driver, while traditional smart highway business revenue declined by **14.41%** despite an improved gross margin Operating Revenue by Product | By Product | Operating Revenue (RMB) | % of Total Revenue | YoY Change | | :--- | :--- | :--- | :--- | | Smart Highway | 162,116,904.32 | 71.09% | -14.41% | | Automotive Electronics | 53,965,610.08 | 23.67% | 147.82% | | Smart City | 7,614,147.92 | 3.34% | 10.74% | Gross Margin by Product | By Product | Gross Margin | Gross Margin YoY Change | | :--- | :--- | :--- | | Smart Highway | 38.98% | 7.85% | | Automotive Electronics | 30.76% | 1.86% | - Reasons for changes in key financial indicators: Net cash flow from operating activities significantly decreased by **341.56%** primarily due to reduced sales collections and increased procurement payments; net cash flow from investing activities significantly increased by **445.58%** mainly because redemptions of wealth management products exceeded new purchases[80](index=80&type=chunk) [V. Analysis of Assets and Liabilities](index=26&type=section&id=V.%20Analysis%20of%20Assets%20and%20Liabilities) As of the end of the reporting period, total assets were **RMB 2.56 billion**, a **5.16%** decrease from the previous year-end, with a notable reduction in trading financial assets due to redemptions and short-term borrowings decreasing to **0%** of total assets Key Asset and Liability Changes | Item | % of Total Assets at Period End | % of Total Assets at Prior Year End | Explanation of Change | | :--- | :--- | :--- | :--- | | Trading financial assets | 13.74% | 19.99% | Primarily due to redemption of some wealth management products | | Short-term borrowings | 0.00% | 4.81% | Primarily due to maturity and payment of discounted bills | [VIII. Analysis of Major Holding and Participating Companies](index=29&type=section&id=VIII.%20Analysis%20of%20Major%20Holding%20and%20Participating%20Companies) During the reporting period, key subsidiary Foshan Goldcard generated **RMB 172.91 million** in operating revenue but incurred a net loss of **RMB 1.92 million**, while Goldcard Smart City achieved **RMB 0.49 million** in revenue with a net profit of **RMB 0.18 million** Major Subsidiaries' Performance | Company Name | Type | Operating Revenue (RMB) | Net Profit (RMB) | | :--- | :--- | :--- | :--- | | Foshan Goldcard | Subsidiary | 172,908,566.45 | -1,920,013.29 | | Goldcard Smart City | Subsidiary | 487,716.58 | 180,931.96 | [X. Risks and Countermeasures Faced by the Company](index=29&type=section&id=X.%20Risks%20and%20Countermeasures%20Faced%20by%20the%20Company) The company faces significant risks including industry policy fluctuations, intensified market competition, technology leakage and talent loss, accounts receivable collection, and wealth management investment risks, which it addresses through new business expansion, increased R&D, and enhanced risk and talent management systems - The company has identified five major risks: industry policy fluctuations, market competition, technology and talent, accounts receivable collection, and wealth management investment[97](index=97&type=chunk)[99](index=99&type=chunk)[100](index=100&type=chunk)[101](index=101&type=chunk)[102](index=102&type=chunk) [Section IV Corporate Governance](index=32&type=section&id=Section%20IV%20Corporate%20Governance) This section details changes in the company's board, supervisors, and senior management, along with the implementation status of its equity incentive plans [II. Changes in the Company's Directors, Supervisors, and Senior Management](index=32&type=section&id=II.%20Changes%20in%20the%20Company's%20Directors,%20Supervisors,%20and%20Senior%20Management) During the reporting period, independent director Xiang Jiying resigned due to term expiration, and Xu Chenzhong was elected as the new independent director by the shareholders' meeting - On January 9, 2024, independent director Xiang Jiying resigned, and Xu Chenzhong was elected as the new independent director[107](index=107&type=chunk) [IV. Implementation of the Company's Equity Incentive Plans, Employee Stock Ownership Plans, or Other Employee Incentive Measures](index=32&type=section&id=IV.%20Implementation%20of%20the%20Company's%20Equity%20Incentive%20Plans,%20Employee%20Stock%20Ownership%20Plans,%20or%20Other%20Employee%20Incentive%20Measures) The company's 2022 Restricted Stock Incentive Plan continues to advance, with the board approving the achievement of conditions for the second lifting of restrictions on **1.62 million shares** held by Director and General Manager Mr. Cai Fuchun on August 23, 2024 - The conditions for the second lifting of restrictions under the 2022 Restricted Stock Incentive Plan have been met, involving **1.62 million shares** held by Director and General Manager Mr. Cai Fuchun[110](index=110&type=chunk) [Section V Environmental and Social Responsibility](index=34&type=section&id=Section%20V%20Environmental%20and%20Social%20Responsibility) This section outlines the company's commitments and actions regarding environmental protection, social welfare, and sustainable development initiatives [Section VI Significant Matters](index=37&type=section&id=Section%20VI%20Significant%20Matters) This section details significant events during the reporting period, including ongoing litigation, major related-party transactions, and the status of entrusted wealth management activities [VIII. Litigation Matters](index=38&type=section&id=VIII.%20Litigation%20Matters) The company is involved in a significant arbitration case with Shenzhen Jiahua Microelectronics Co., Ltd., concerning **RMB 5.62 million** for legal fees from a previous arbitration, with the case heard but not yet ruled, creating uncertainty regarding its impact on profit - The company is involved in a significant arbitration case concerning **RMB 5.62 million** for legal fee compensation from a prior arbitration, which has been heard but not yet ruled[132](index=132&type=chunk) [XI. Major Related-Party Transactions](index=38&type=section&id=XI.%20Major%20Related-Party%20Transactions) During the reporting period, the company engaged in routine related-party transactions with Shenzhen Baoyi Transportation Technology Co., Ltd., primarily involving the sale of ETC-related equipment and services totaling **RMB 14.38 million**, which remained within the annual approved limit of **RMB 80 million** Major Related-Party Transactions | Related Party | Related Transaction Content | Related Transaction Amount (RMB 10,000) | % of Similar Transactions | Approved Transaction Limit (RMB 10,000) | | :--- | :--- | :--- | :--- | :--- | | Baoyi Transportation Technology Co., Ltd. | Sales of ETC-related equipment and services | 1,438.12 | 6.31% | 8,000 | [3. Entrusted Wealth Management](index=40&type=section&id=3.%20Entrusted%20Wealth%20Management) During the reporting period, the company engaged in entrusted wealth management using its own funds, with total transactions amounting to **RMB 560 million**, primarily invested in bank, brokerage, and trust wealth management products, and an outstanding balance of **RMB 340 million** at period-end with no overdue unrecovered amounts Entrusted Wealth Management Overview | Specific Type | Entrusted Wealth Management Transaction Amount (RMB 10,000) | Outstanding Balance (RMB 10,000) | | :--- | :--- | :--- | | Bank wealth management products | 29,000 | 13,000 | | Brokerage wealth management products | 24,000 | 21,000 | | Trust wealth management products | 3,000 | 0 | | **Total** | **56,000** | **34,000** | [Section VII Share Changes and Shareholder Information](index=42&type=section&id=Section%20VII%20Share%20Changes%20and%20Shareholder%20Information) This section provides details on the company's share capital changes, the number of shareholders, and the shareholding structure of its major shareholders [III. Number of Shareholders and Shareholding Information](index=43&type=section&id=III.%20Number%20of%20Shareholders%20and%20Shareholding%20Information) As of the end of the reporting period, the company had **56,773** common shareholders, with controlling shareholder Shenzhen Minxing Electronics Co., Ltd. holding **17.05%** and its controlling shareholder Mr. Luo Ruifa directly holding **3.86%**, forming a concerted action relationship - As of the end of the reporting period, the total number of common shareholders was **56,773**[157](index=157&type=chunk) Top Ten Shareholders | Shareholder Name | Shareholder Nature | Shareholding Percentage | Number of Shares | | :--- | :--- | :--- | :--- | | Shenzhen Minxing Electronics Co., Ltd. | Domestic Non-State-Owned Legal Person | 17.05% | 30,615,600 | | Liu Yongping | Domestic Natural Person | 6.88% | 12,346,400 | | Cai Fuchun | Domestic Natural Person | 4.33% | 7,775,700 | | Luo Ruifa | Domestic Natural Person | 3.86% | 6,939,350 | [Section VIII Preferred Shares Information](index=46&type=section&id=Section%20VIII%20Preferred%20Shares%20Information) This section provides details regarding the company's preferred shares, if any, including their issuance, terms, and any related changes [Section IX Bonds Information](index=47&type=section&id=Section%20IX%20Bonds%20Information) This section provides information on the company's outstanding bonds, including their issuance, terms, and any significant developments [Section X Financial Report](index=48&type=section&id=Section%20X%20Financial%20Report) This section presents the company's unaudited financial statements for the reporting period, including detailed notes on key accounts and their movements [II. Financial Statements](index=48&type=section&id=II.%20Financial%20Statements) This semi-annual financial report is unaudited, comprising consolidated and parent company balance sheets, income statements, cash flow statements, and statements of changes in owners' equity [VII. Notes to Consolidated Financial Statements](index=96&type=section&id=VII.%20Notes%20to%20Consolidated%20Financial%20Statements) This section provides detailed notes on the composition and changes of various accounting items, including accounts receivable, inventory, and long-term equity investments, with specific figures and explanations - Accounts receivable balance at period-end was **RMB 512 million**, an increase from **RMB 446 million** at the beginning of the period, with approximately **62%** being less than 1 year old, and a bad debt provision of **RMB 98.98 million**[349](index=349&type=chunk)[352](index=352&type=chunk) - Inventory book value at period-end was **RMB 140 million**, an increase of **14.3%** from **RMB 123 million** at the beginning of the period, with raw materials and merchandise inventory being the main components[408](index=408&type=chunk) - Long-term equity investments had a book value of **RMB 71.21 million** at period-end, entirely comprising investments in associates Baoyi Transportation Technology and Xinlian Payment, with investment income of **RMB 1.91 million** recognized under the equity method for the current period[426](index=426&type=chunk)[743](index=743&type=chunk)