单位：万元 非经营性资金 占用 资金占用方名 称 占用方与上 市公司的关 联关系 上市公司核 算的会计科 目 2025年期初占 用资金余额 2025年半年度占用 累计发生金额（不 含利息） 2025年半年度占 用资金的利息 （如有） 2025年半年度偿还累 计发生金额 2025年半年度期末 占用资金余额 占用形成原 因 占用性质 控股股东、实 际控制人及其 附属企业 - - - - - - - - - 非经营性占 用 小计 - - - - - - - - - - 前控股股东、 实际控制人及 其附属企业 - - - - - - - - - 非经营性占 用 小计 - - - - - - - - - - 其他关联方及 其附属企业 - - - - - - - - - 非经营性占 用 小计 - - - - - - - - - - 总计 - - - - - - - - - - 金龙羽集团股份有限公司 2025年半年度非经营性资金占用及其他关联资金往来情况汇总表 | 其他关联资金 | 资金往来方名 | 往来方与上 | 上市公司核 | 2025年期初往 | 2025年半年度往来 | 2025年半年度往 | 2025年半年度偿 ...

证券代码：002882 证券简称：金龙羽 公告编号：2025-061 金龙羽集团股份有限公司 关于项目中标的进展公告 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、项目中标的主要情况 金龙羽集团股份有限公司（以下简称"本公司"或"公司"）于 2020 年 1 月 7 日收到南方电网物资有限公司的《中标通知书》，确认本公司中标南方电网 物资有限公司 2019 年 10kV 交联电缆（阻燃型）、低压交流电力电缆（阻燃型）、 低压电线、低压交流电力电缆（普通型）材料框架招标部分项目（以下简称"2020 年中标项目"），按中标比例预估中标金额为 27,148 万元（含税）。 公司下属子公司惠州市金龙羽超高压电缆有限公司（以下简称"超高压公 司"）、惠州市金龙羽电缆实业发展有限公司（以下简称"电缆实业"）于 2021 年8月4日收到南方电网物资有限公司于2021年8月4日作出的《中标通知书》， 确认中标南方电网物资有限公司 2021 年 110kV 交流电力电缆、低压交流电力电 缆（阻燃型）、10kV 交流电力电缆（阻燃型）、低压电线框架招标部分项目（以 下简称" ...

第四届监事会第九次会议决议公告 本公司及监事会全体成员保证信息披露的内容真实、准确、完整、没有虚假 记载、误导性陈述或重大遗漏。 金龙羽集团股份有限公司（以下简称"公司"）第四届监事会第九次会议于 2025 年 8 月 8 日上午以现场方式在深圳市龙岗区坂田街道五和大道 118 号和成 世纪名园 3A 21 楼会议室召开，会议通知于 2025 年 7 月 29 日以邮件方式发出， 应参加会议人数 3 人，实际参加会议 3 人，公司董事、高级管理人员列席会议， 会议由监事会主席纪桂歆先生召集并主持，会议的召开符合《公司法》等法律法 规及《公司章程》的规定。会议决议如下： 证券代码：002882 证券简称：金龙羽 公告编号：2025-063 金龙羽集团股份有限公司 《金龙羽集团股份有限公司 2025 年半年度报告》全文详见同日公司指定信 息披露媒体巨潮资讯网（http://www.cninfo.com.cn），《金龙羽集团股份有限 公司 2025 年半年度报告摘要》详见同日公司指定信息披露媒体《证券时报》《中 国证券报》《上海证券报》《证券日报》和巨潮资讯网（http://www.cninfo.com.cn）。 ...

金龙羽集团股份有限公司（以下简称"公司"）第四届董事会第十四次 （定期）会议于 2025 年 8 月 8 日上午以现场结合通讯方式在深圳市龙岗区坂田 街道五和大道 118 号和成世纪名园 3A 21 楼会议室召开，会议通知于 2025 年 7 月 29 日以邮件方式发出，应参加会议人数 9 人，实际参加会议 9 人，其中，独 立董事丁海芳女士、独立董事彭松先生以通讯表决方式出席会议，列席会议人 员有公司监事 3 人、高级管理人员 4 人，会议由董事长郑有水先生主持，会议 的召集、召开符合《公司法》等法律法规及《公司章程》的规定。 股票代码：002882 股票简称：金龙羽 公告编号：2025-062 金龙羽集团股份有限公司 第四届董事会第十四次（定期）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 二、董事会会议审议情况 会议审议并以书面投票表决方式通过了以下议案： （一）审议通过了《金龙羽集团股份有限公司 2025 年半年度报告及其摘 要》；同意 9 票，反对 0 票，弃权 0 票； 公司已依照中国证券监督管理委员会《公开 ...

[Important Notice, Table of Contents, and Definitions](index=2&type=section&id=Item%201%20Important%20Notice%2C%20Table%20of%20Contents%2C%20and%20Definitions) This section provides essential disclaimers, outlines key risks, and details the proposed profit distribution plan for the first half of 2025 - The company's board of directors, supervisory board, and all senior executives guarantee the truthfulness, accuracy, and completeness of the report content and assume legal responsibility[4](index=4&type=chunk) - Forward-looking statements, including future plans contained in this report, do not constitute a substantive commitment to investors, who should be aware of relevant risks[4](index=4&type=chunk) - The company has highlighted multiple risks including raw material price fluctuations, market competition, solid-state battery industry layout, and liquidity[4](index=4&type=chunk) - The company's proposed profit distribution plan for the first half of 2025 is: no cash dividends, no bonus shares, and no capitalization of reserves[5](index=5&type=chunk) [Company Profile and Key Financial Indicators](index=6&type=section&id=Item%202%20Company%20Profile%20and%20Key%20Financial%20Indicators) This section introduces the company and presents its key financial performance and position for the reporting period [Company Profile](index=6&type=section&id=I.%20Company%20Profile) Jinlongyu Group Co., Ltd. (stock code: 002882) is a company listed on the Shenzhen Stock Exchange, with Zheng Youshui as its legal representative Company Information | Item | Content | | :--- | :--- | | **Stock Abbreviation** | Jinlongyu | | **Stock Code** | 002882 | | **Listing Exchange** | Shenzhen Stock Exchange | | **Company Full Chinese Name** | Jinlongyu Group Co., Ltd. | | **Legal Representative** | Zheng Youshui | [Key Accounting Data and Financial Indicators](index=7&type=section&id=IV.%20Key%20Accounting%20Data%20and%20Financial%20Indicators) During the reporting period, the company's operating revenue increased by 32.98%, while net profit attributable to shareholders decreased by 20.19% Key Financial Performance | Key Financial Indicator | Current Reporting Period | Prior Year Period | Year-on-Year Change | | :--- | :--- | :--- | :--- | | **Operating Revenue (yuan)** | 2,156,526,582.22 | 1,621,693,231.55 | 32.98% | | **Net Profit Attributable to Shareholders (yuan)** | 66,715,982.84 | 83,594,004.57 | -20.19% | | **Net Profit Attributable to Shareholders (Excluding Non-recurring Items) (yuan)** | 62,380,469.52 | 81,046,515.63 | -23.03% | | **Net Cash Flow from Operating Activities (yuan)** | -359,393,441.36 | -367,675,070.82 | 2.25% | | **Basic Earnings Per Share (yuan/share)** | 0.1541 | 0.1931 | -20.20% | | **Weighted Average Return on Net Assets** | 3.10% | 3.94% | -0.84% | | **Total Assets (yuan)** | 4,537,480,653.33 | 3,815,854,100.51 | 18.91% (Period-end vs. Prior Year-end) | | **Net Assets Attributable to Shareholders (yuan)** | 2,077,731,222.47 | 2,138,123,696.14 | -2.82% (Period-end vs. Prior Year-end) | - During the reporting period, the company's total non-recurring gains and losses amounted to **4.34 million yuan**, primarily from debt restructuring gains, government subsidies, and fair value changes in financial assets[21](index=21&type=chunk) [Management Discussion and Analysis](index=9&type=section&id=Item%203%20Management%20Discussion%20and%20Analysis) This section provides an in-depth analysis of the company's operations, financial performance, core competencies, and risk factors [Principal Business and Operations Overview](index=9&type=section&id=I.%20Principal%20Business%20and%20Operations%20Overview) The company's main business is R&D, production, and sales of wires and cables, with revenue growth driven by market expansion despite a decline in net profit due to increased competition and R&D investment - The company's principal business involves the R&D, production, sales, and service of wires and cables, covering both ordinary and special types[25](index=25&type=chunk) - The company is also engaged in the R&D of solid-state batteries and their key materials, committed to promoting their industrialization[28](index=28&type=chunk) Key Financial Performance and Reasons for Change | Financial Indicator | 2025 H1 | Year-on-Year Change | Primary Reason | | :--- | :--- | :--- | :--- | | **Operating Revenue** | 2.16 billion yuan | +32.98% | Active expansion into central enterprises, state-owned enterprises, and overseas markets | | **Net Profit Attributable to Shareholders** | 66.72 million yuan | -20.19% | Intensified market competition leading to decreased profitability; increased R&D investment in solid-state battery projects | [Analysis of Core Competencies](index=10&type=section&id=II.%20Analysis%20of%20Core%20Competencies) The company's core competencies are rooted in its product quality, established brand, advanced technology, experienced management, and strategic geographical location - The company possesses five core competencies: - **Product Quality Advantage**: Achieved multiple stringent domestic and international certifications such as ISO9001, TUV, and BASEC, with quality control throughout all production and operation stages[34](index=34&type=chunk) - **Brand Advantage**: The "Jinlongyu" brand has been deeply cultivated in South China for many years, recognized as a "Guangdong Famous Trademark," with clients including State Grid, China Southern Power Grid, and numerous well-known enterprises[36](index=36&type=chunk) - **Technological Advantage**: Capable of producing **3,500mm² large-cross-section power cables**, with leading flame-retardant and fire-resistant technology domestically, and participation in multiple industry standard formulations[38](index=38&type=chunk) - **Management Advantage**: A stable and experienced core management team with strong cost control and production organization capabilities[39](index=39&type=chunk) - **Geographical Advantage**: Located in Shenzhen, benefiting from continuous market demand driven by the Guangdong-Hong Kong-Macao Greater Bay Area development[42](index=42&type=chunk) [Analysis of Principal Business](index=12&type=section&id=III.%20Analysis%20of%20Principal%20Business) Operating revenue and costs significantly increased, with foreign trade revenue up 139.04%, while R&D investment surged due to solid-state battery projects Key Financial Data and Reasons for Change | Key Financial Data | Current Reporting Period | Prior Year Period | Year-on-Year Change | Reason for Change | | :--- | :--- | :--- | :--- | :--- | | **Operating Revenue** | 2.16 billion yuan | 1.62 billion yuan | 32.98% | Active expansion into major clients and overseas markets | | **Operating Costs** | 1.92 billion yuan | 1.40 billion yuan | 36.50% | Increase in costs due to revenue growth | | **R&D Investment** | 40.62 million yuan | 15.75 million yuan | 157.83% | Increased R&D investment in solid-state battery projects | | **Net Cash Flow from Investing Activities** | -137 million yuan | 10 million yuan | -1,421.97% | Investment in the construction of solid-state battery project production base | Revenue Composition by Industry | Revenue Composition (by Industry) | Operating Revenue (yuan) | Proportion of Total Revenue | Year-on-Year Change | | :--- | :--- | :--- | :--- | | **Civilian Use** | 1,968,402,890.16 | 91.28% | 32.34% | | **Power Grid** | 43,201,363.34 | 2.00% | -34.71% | | **Foreign Trade** | 124,386,706.52 | 5.77% | 139.04% | Revenue Composition by Product | Revenue Composition (by Product) | Operating Revenue (yuan) | Proportion of Total Revenue | Year-on-Year Change | | :--- | :--- | :--- | :--- | | **Ordinary Wires** | 441,323,054.85 | 20.46% | 21.46% | | **Special Wires** | 308,239,322.04 | 14.29% | 29.73% | | **Special Cables** | 1,354,130,863.33 | 62.79% | 37.40% | - Gross profit margins for civilian use business, ordinary wires, special wires, and special cables, each accounting for over 10% of revenue, all experienced year-on-year declines, with special wires seeing the largest decrease of **4.37 percentage points**[48](index=48&type=chunk) [Analysis of Non-Principal Business](index=13&type=section&id=IV.%20Analysis%20of%20Non-Principal%20Business) Non-principal business activities negatively impacted total profit, primarily due to significant credit impairment losses, partially offset by investment income Non-Principal Business Impact on Profit | Item | Amount (yuan) | Proportion of Total Profit | Explanation of Formation | | :--- | :--- | :--- | :--- | | **Investment Income** | 6,724,035.98 | 7.44% | Primarily from financial asset investment income, debt restructuring gains, etc. | | **Fair Value Change Gains/Losses** | -1,178,427.18 | -1.30% | Primarily from fair value changes in copper hedging futures | | **Credit Impairment Losses** | -23,569,100.07 | -26.08% | Primarily from provisions for bad debts on accounts receivable, notes receivable, etc. | [Analysis of Assets and Liabilities](index=14&type=section&id=V.%20Analysis%20of%20Assets%20and%20Liabilities) Total assets increased, driven by higher accounts receivable, inventory, and construction in progress, while liabilities rose to support operations and investments - Period-end inventory balance increased by **45.61%** compared to the end of the previous year, with its proportion of total assets rising from **16.86%** to **20.64%**, primarily due to increased stock preparation driven by higher sales orders[51](index=51&type=chunk) - Period-end construction in progress balance surged by **286.12%** compared to the end of the previous year, with its proportion of total assets increasing from **0.58%** to **1.89%**, mainly due to increased investment in plant and equipment for the solid-state battery project[51](index=51&type=chunk) - Short-term borrowings and notes payable balances increased by **55.25%** and **46.33%** respectively compared to the end of the previous year, primarily to meet increased working capital needs and optimize payment methods for procurement[51](index=51&type=chunk) - As of the end of the reporting period, the company had **866 million yuan** in restricted assets, primarily comprising margin deposits for bill discounting, bank acceptance bills, and pledged notes[56](index=56&type=chunk) [Analysis of Investment Status](index=15&type=section&id=VI.%20Analysis%20of%20Investment%20Status) Investment increased significantly, primarily directed towards solid-state battery projects, with additional investments in copper futures for hedging purposes Major Non-Equity Investment Projects | Major Non-Equity Investment Project | Amount Invested in Current Period (yuan) | Cumulative Actual Investment Amount (yuan) | | :--- | :--- | :--- | | **Solid-State Batteries and Key Materials** | 82,139,912.52 | 232,447,002.73 | | **Huidong Solid-State Battery Materials Project** | 83,308,106.38 | 83,308,106.38 | - The company engaged in copper futures derivative investments for hedging purposes, with a period-end investment amount of **14.98 million yuan**, accounting for **0.72%** of the company's net assets. The actual gain/loss from hedging activities during the reporting period was **0.97 million yuan**[63](index=63&type=chunk) [Analysis of Major Holding and Participating Companies](index=17&type=section&id=VIII.%20Analysis%20of%20Major%20Holding%20and%20Participating%20Companies) The primary profit contributor is Huizhou Cable, while the solid-state battery subsidiary, Shenzhen New Energy, incurred losses due to ongoing R&D investments Key Subsidiaries' Performance | Company Name | Type | Principal Business | Operating Revenue (million yuan) | Net Profit (million yuan) | | :--- | :--- | :--- | :--- | :--- | | **Huizhou Jinlongyu Cable Industrial Development Co., Ltd.** | Subsidiary | R&D, production, and sales of wires and cables | 2124.9965 | 76.3020 | | **Jinlongyu New Energy (Shenzhen) Co., Ltd.** | Subsidiary | R&D, production, and sales of solid-state batteries and key materials | 0.1911 | -24.9921 | - Huizhou Cable's operating revenue increased by **44.22%** year-on-year, but due to intensified market competition, its net profit growth of **8.02%** was significantly lower than its revenue growth[70](index=70&type=chunk) - Shenzhen New Energy incurred significant losses during the reporting period as its solid-state battery business is still in a critical R&D investment phase and has not yet generated stable revenue[71](index=71&type=chunk) [Risks and Countermeasures](index=18&type=section&id=X.%20Risks%20and%20Countermeasures) The company faces risks from raw material price volatility, market competition, single market reliance, management challenges, and solid-state battery industrialization uncertainties - The company faces several major risks, including: - **Raw Material Price Volatility Risk**: Significant fluctuations in the price of copper, a primary raw material, are managed through hedging and safety stock strategies[72](index=72&type=chunk) - **Market Competition Risk**: Intense price competition in the mid-to-low-end product segments of the industry is addressed by focusing on quality, brand, and differentiated high-end products[73](index=73&type=chunk) - **Single Market Risk**: Sales are primarily concentrated in Shenzhen, with new markets being explored through fundraising projects to diversify risk[74](index=74&type=chunk) - **Management Risk**: Business expansion demands higher management capabilities, which the company addresses through training and refined management practices[75](index=75&type=chunk) - **Solid-State Battery Industry Risk**: Uncertainties exist regarding industrialization progress, technological routes, and customer expansion, leading the company to adopt a phased investment strategy[75](index=75&type=chunk) - **Liquidity Risk**: Increased investment expenditures for the solid-state battery project create financial pressure, which the company mitigates by improving operational quality and diversifying financing channels[75](index=75&type=chunk) [Corporate Governance, Environment, and Society](index=20&type=section&id=Item%204%20Corporate%20Governance%2C%20Environment%2C%20and%20Society) This section details changes in senior management, the company's governance structure, and its commitment to environmental and social responsibilities [Executive Changes and Corporate Governance](index=20&type=section&id=I.%20Executive%20Changes%20and%20Corporate%20Governance) The company experienced changes in key executive positions while maintaining a robust governance structure and actively fulfilling its social responsibilities - During the reporting period, personnel changes occurred in several key senior management positions, including the Board Secretary and Deputy General Manager[78](index=78&type=chunk) - The company's semi-annual plan is to not distribute cash dividends, issue bonus shares, or capitalize reserves[79](index=79&type=chunk) - The company actively fulfills its social responsibilities, emphasizing shareholder rights protection, employee legal rights, supply chain relationships, and environmental protection, with its subsidiary Cable Industry recognized as a national-level "Green Factory"[81](index=81&type=chunk)[82](index=82&type=chunk)[84](index=84&type=chunk)[85](index=85&type=chunk)[86](index=86&type=chunk) [Significant Matters](index=22&type=section&id=Item%205%20Significant%20Matters) This section covers major legal proceedings, related party transactions, significant contracts, and the progress of key investment projects [Litigation and Penalties](index=22&type=section&id=VIII.%20Litigation%20Matters) The company is involved in significant litigation, including a major contract dispute with Shenzhen Evergrande, and received a public reprimand for information disclosure issues - In the sales contract dispute with Shenzhen Evergrande, involving **272 million yuan**, the court ruled in favor of the company, and the case has entered the enforcement stage. The company has made a **100%** bad debt provision for this amount, and the judgment has no significant adverse impact on current period profit[94](index=94&type=chunk) - The company, its chairman, general manager, and board secretary received a public reprimand from the Shenzhen Stock Exchange for publicly disseminating information through other channels that could significantly impact stock prices[95](index=95&type=chunk) [Significant Related Party Transactions and Contracts](index=24&type=section&id=XI.%20Significant%20Related%20Party%20Transactions) The company engaged in routine related party transactions and significant contracts, including leasing out its industrial park and providing substantial guarantees for subsidiaries - The company engaged in related party transactions with Guangdong Yongxiangteng Chemical Co., Ltd. and Shenzhen Jinhecheng Investment Development Co., Ltd. for raw material procurement and office building leases, totaling approximately **10.22 million yuan**[98](index=98&type=chunk)[99](index=99&type=chunk) - The company leased out its entire Shenzhen Industrial Park for a 6-year term, recognizing **14.61 million yuan** in rental income during the reporting period, which positively impacted the company's profit[110](index=110&type=chunk) - As of the end of the reporting period, the company's actual guarantee balance for its subsidiaries was **951 million yuan**, accounting for **45.75%** of the company's net assets[112](index=112&type=chunk) [Solid-State Battery Project Progress](index=29&type=section&id=XIV.%20Significant%20Matters%20of%20Company%20Subsidiaries) The company is actively advancing solid-state battery R&D and industrialization, with initial customer orders and material evaluations, though it currently has no significant impact on overall performance - The company plans a total investment of **1.2 billion yuan** to construct a solid-state battery key material mass production line project in Huizhou New Material Industrial Park[121](index=121&type=chunk) - Project Progress: - **Battery Cells**: Semi-solid-state battery series have passed customer testing and received orders[123](index=123&type=chunk) - **Key Materials**: Oxide electrolytes, ion conductive membranes, silicon-based anode materials, and others have completed sampling and evaluation by multiple customers and passed[123](index=123&type=chunk) - **Cathode**: Lithium manganese iron phosphate cathode material has completed **hundred-kilogram scale preparation**, with performance meeting standards[123](index=123&type=chunk) - The company notes that while the solid-state battery business has received orders, it has not yet generated long-term stable revenue, currently has no significant impact on the company's overall performance, and carries risks of industrialization and commercialization falling short of expectations[123](index=123&type=chunk) [Changes in Share Capital and Shareholder Information](index=31&type=section&id=Item%206%20Changes%20in%20Share%20Capital%20and%20Shareholder%20Information) This section outlines changes in the company's share capital structure and provides details on its major shareholders [Changes in Share Capital and Shareholder Structure](index=31&type=section&id=I.%20Changes%20in%20Share%20Capital) The company's total share capital remained stable, with minor adjustments in restricted shares, and a highly concentrated shareholder structure dominated by the actual controller and his concerted parties - The total share capital remained unchanged during the reporting period at **432,900,000 shares**. A minor adjustment occurred between restricted and unrestricted shares due to the lock-up of shares upon a senior executive's departure[126](index=126&type=chunk) Top Shareholders | Shareholder Name | Shareholder Nature | Shareholding Percentage | Number of Shares Held | | :--- | :--- | :--- | :--- | | **Zheng Youshui** | Domestic Natural Person | 56.83% | 246,000,000 | | **Zheng Fenglan** | Domestic Natural Person | 5.47% | 23,692,000 | | **Wu Yuhua** | Domestic Natural Person | 5.32% | 23,015,800 | | **Zheng Huijie** | Domestic Natural Person | 4.70% | 20,345,942 | - The top five shareholders, Zheng Youshui, Zheng Fenglan, Wu Yuhua, Zheng Huijie, and Zheng Zhongzhou, are parties acting in concert[132](index=132&type=chunk) [Bond-Related Information](index=35&type=section&id=Item%207%20Bond-Related%20Information) This section reports on any bond-related activities or outstanding debt instruments of the company [Bond-Related Information](index=35&type=section&id=Item%207%20Bond-Related%20Information) During the reporting period, the company had no bond-related matters - During the reporting period, the company had no bond-related matters[138](index=138&type=chunk) [Financial Report](index=36&type=section&id=Item%208%20Financial%20Report) This section presents the company's financial statements, including the audit report and detailed notes to the consolidated financial statements [Audit Report](index=36&type=section&id=I.%20Audit%20Report) The company's semi-annual financial report is unaudited - The company's semi-annual financial report is unaudited[140](index=140&type=chunk) [Notes to Major Items of Consolidated Financial Statements](index=72&type=section&id=VII.%20Notes%20to%20Major%20Items%20of%20Consolidated%20Financial%20Statements) Financial statement notes detail significant increases in inventory, construction in progress, short-term borrowings, and R&D expenses, primarily driven by solid-state battery investments [Cash and Cash Equivalents](index=72&type=section&id=1.%20Cash%20and%20Cash%20Equivalents) The period-end cash and cash equivalents balance was 812 million yuan, with a significant portion comprising restricted funds for guarantees and hedging Cash and Cash Equivalents Balances | Item | Period-End Balance (yuan) | Period-Beginning Balance (yuan) | | :--- | :--- | :--- | | **Cash on Hand** | 55,814.00 | 21,229.00 | | **Bank Deposits** | 303,174,662.95 | 362,471,746.25 | | **Other Cash and Cash Equivalents** | 508,747,539.29 | 548,316,589.48 | | **Total** | 811,978,016.24 | 910,809,564.73 | [Accounts Receivable](index=74&type=section&id=4.%20Accounts%20Receivable) Period-end accounts receivable increased to 1.50 billion yuan, with approximately 60% due within one year, and a full impairment provision made for 246 million yuan from specific customers - Period-end accounts receivable book balance was **1.89 billion yuan**, with bad debt provisions of **386 million yuan**, resulting in a book value of **1.50 billion yuan**[291](index=291&type=chunk) - The balance of accounts receivable for which individual bad debt provisions were made was **246 million yuan**, with a **100%** provision rate, primarily involving Shenzhen Evergrande and Hainan Hengqian, due to expected uncollectibility[292](index=292&type=chunk) [Inventories](index=82&type=section&id=8.%20Inventories) Period-end inventory book value surged by 45.6% to 937 million yuan, primarily due to increased work-in-progress and finished goods to meet rising sales orders Inventory Book Values | Item | Period-End Book Value (yuan) | Period-Beginning Book Value (yuan) | | :--- | :--- | :--- | | **Raw Materials** | 48,466,972.25 | 34,742,314.48 | | **Work in Progress** | 153,820,754.72 | 88,122,328.31 | | **Finished Goods** | 724,886,083.53 | 509,699,794.72 | | **Total** | 936,628,891.25 | 643,233,771.34 | [Construction in Progress](index=89&type=section&id=15.%20Construction%20in%20Progress) Period-end construction in progress increased by 286% to 85.82 million yuan, mainly driven by investments in equipment and new energy workshops for the solid-state battery project Construction in Progress Balances | Item | Period-End Book Value (yuan) | Period-Beginning Book Value (yuan) | | :--- | :--- | :--- | | **Equipment** | 56,790,668.29 | 2,142,271.08 | | **New Energy Workshop** | 29,029,368.34 | 19,846,213.99 | | **Total** | 85,820,036.63 | 22,224,916.69 | [Operating Revenue and Operating Costs](index=100&type=section&id=39.%20Operating%20Revenue%20and%20Operating%20Costs) Operating revenue increased by 32.98% to 2.16 billion yuan, while operating costs grew faster at 36.50% to 1.92 billion yuan, leading to a decline in gross profit margin Operating Revenue and Costs | Item | Amount for Current Period (yuan) | Amount for Prior Period (yuan) | | :--- | :--- | :--- | | **Operating Revenue** | 2,156,526,582.22 | 1,621,693,231.55 | | **Operating Costs** | 1,915,401,332.15 | 1,403,235,171.08 | [Research and Development Expenses](index=102&type=section&id=43.%20Research%20and%20Development%20Expenses) R&D expenses significantly increased by 157.83% to 40.62 million yuan, primarily due to higher material consumption and personnel costs for the solid-state battery project Research and Development Expenses Breakdown | Item | Amount for Current Period (yuan) | Amount for Prior Period (yuan) | | :--- | :--- | :--- | | **R&D Materials** | 15,326,571.11 | 2,967,987.66 | | **R&D Salaries** | 15,584,426.32 | 6,397,101.38 | | **Total** | 40,615,763.62 | 15,753,192.22 | [Supplementary Information](index=134&type=section&id=1.%20Details%20of%20Non-Recurring%20Gains%20and%20Losses%20for%20the%20Current%20Period) Report period net profit attributable to ordinary shareholders was 66.72 million yuan, with non-recurring gains and losses totaling 4.34 million yuan, mainly from debt restructuring and government subsidies Profit and Return on Equity | Profit for the Period | Weighted Average Return on Net Assets | Basic Earnings Per Share (yuan/share) | | :--- | :--- | :--- | | **Net Profit Attributable to Ordinary Shareholders of the Company** | 3.10% | 0.1541 | | **Net Profit Attributable to Ordinary Shareholders of the Company (Excluding Non-recurring Gains and Losses)** | 2.90% | 0.1441 | [Other Submitted Data](index=136&type=section&id=Item%209%20Other%20Submitted%20Data) This section includes information on investor relations activities and significant related party fund movements [Investor Relations and Related Party Fund Movements](index=136&type=section&id=II.%20Registration%20Form%20for%20Investor%20Relations%20Activities%20During%20the%20Reporting%20Period) The company held an online investor briefing and engaged in non-operating fund transfers with a subsidiary for working capital purposes - The company held an online performance briefing on April 25, 2025, via the "Hudongyi" website[602](index=602&type=chunk) - During the reporting period, the company had **45 million yuan** in non-operating fund movements with its controlling subsidiary, Jinlongyu New Energy (Shenzhen) Co., Ltd., for working capital purposes[604](index=604&type=chunk)

Group 1 - The core issue is that Jinlongyu (金龙羽) has been criticized by the Shenzhen Stock Exchange for violations in information disclosure [1][5] - On May 20, 2025, Jinlongyu announced a significant order for 100,000 solid-state battery cells with a density of 500Wh/kg, which led to a rapid increase in its stock price from 16.99 CNY to a peak of 40.82 CNY by June 30 [4] - Jinlongyu failed to provide detailed announcements regarding the order and later indicated that the order's financial impact would be minor, which raised concerns about the adequacy of their disclosures [4] Group 2 - The Shenzhen Stock Exchange has recorded Jinlongyu's violations and the corresponding penalties in the company's integrity file [5] - Jinlongyu, established in 1994, specializes in the research, production, and sales of wires and cables, and has previously announced plans to invest up to 300 million CNY in solid-state battery research [6] - The company has faced scrutiny in the past regarding its stock price movements and has denied any attempts to "hype" its stock [6] Group 3 - Jinlongyu's recent financial performance has been disappointing, with a reported revenue of 3.675 billion CNY in 2024, a decline of 6.53% year-on-year, and a net profit of 134 million CNY, down 13.98% [7] - In Q1 2025, the company reported a revenue of 899 million CNY, a year-on-year increase of 31.14%, but the net profit still declined by 5.51% [7] - As of August 8, 2025, Jinlongyu's stock price was 31.85 CNY, reflecting a slight increase of 0.47% [8]

Core Viewpoint - The Shenzhen Stock Exchange has criticized Jinlongyu for violating regulations related to the disclosure of information that could significantly impact stock prices, leading to a rapid increase in its stock price despite poor financial performance [1][2][4]. Group 1: Regulatory Actions - The Shenzhen Stock Exchange announced a reprimand against Jinlongyu and its executives for failing to provide sufficient, accurate, and complete risk disclosures when releasing potentially market-moving information [2][4]. - Jinlongyu's chairman, general manager, and board secretary were held responsible for the company's violations and received formal reprimands [4]. Group 2: Stock Performance - Following the announcement of a significant order for solid-state battery cells on May 20, 2025, Jinlongyu's stock price surged, achieving four limit-up days within six trading days [3]. - The stock price increased from below 17 yuan to over 40 yuan between May 20 and June 30, 2025, effectively doubling in value [6]. Group 3: Financial Performance - Jinlongyu reported a revenue of 36.75 billion yuan in 2024, a decrease of 6.53% year-on-year, with a net profit of 1.4 billion yuan, down 14.14% [8]. - The company experienced a negative cash flow of 18.6 million yuan, a significant decline of 109.3% year-on-year, marking two consecutive years of declining net profit [8]. - In the first quarter of 2025, Jinlongyu's performance improved, with revenues of 8.99 billion yuan, a year-on-year increase of 31.14%, and a net profit of 37.17 million yuan, up 2.94% [8]. Group 4: Business Developments - Jinlongyu announced a partnership for solid-state battery development in 2021, which led to stock price increases and scrutiny from the Shenzhen Stock Exchange [4]. - In December 2023, Jinlongyu terminated its collaboration with a partner and established a subsidiary to continue solid-state battery material research [5].

Core Viewpoint - The Shenzhen Stock Exchange has criticized Jinlongyu for violating regulations related to stock price manipulation and has imposed penalties on the company and its executives for their lack of diligence in disclosing accurate information [1][2]. Group 1: Regulatory Actions - Jinlongyu was publicly reprimanded by the Shenzhen Stock Exchange for its actions, which were deemed to have insufficient, inaccurate, and incomplete risk disclosures that could significantly impact stock prices [1][2]. - The company's chairman, general manager, and board secretary were held responsible for the violations and received similar reprimands [2]. Group 2: Business Developments - On May 20, 2025, Jinlongyu announced a significant order for 100,000 solid-state battery cells with a density of 500Wh/kg, which was described as a milestone for the company [1]. - Following the announcement, Jinlongyu's stock price experienced a rapid increase, with four instances of hitting the daily limit up within six trading days [1]. Group 3: Financial Performance - Despite the stock price surge, Jinlongyu's financial performance has been declining, with a reported revenue of 3.675 billion yuan in 2024, down 6.53% year-on-year, and a net profit of 140 million yuan, down 14.14% [6]. - In the first quarter of 2025, the company showed signs of recovery with a revenue of 899 million yuan, up 31.14% year-on-year, and a net profit of 37.17 million yuan, up 2.94% [6]. Group 4: Market Reactions - From May 20 to June 30, 2025, Jinlongyu's stock price doubled, rising from below 17 yuan to over 40 yuan, marking a significant increase in market interest [4]. - As of August 7, 2025, the stock price settled at 31.70 yuan, with a market capitalization of approximately 13.723 billion yuan [4].

Core Viewpoint - The Shenzhen Stock Exchange has criticized Jinlongyu for violating regulations related to the disclosure of significant information that could impact stock prices, particularly regarding its solid-state battery business [2][3]. Group 1: Regulatory Actions - Jinlongyu has been penalized by the Shenzhen Stock Exchange for insufficient and inaccurate risk disclosures related to a significant order for solid-state battery cells [2][3]. - Key executives, including the chairman and general manager, have been held responsible for the company's violations and have received formal reprimands [3]. Group 2: Business Developments - On May 20, 2025, Jinlongyu announced a significant order for 100,000 solid-state battery cells with a density of 500Wh/kg, marking a milestone for the company [2]. - The company had previously denied allegations of "hype" related to its solid-state battery initiatives, despite stock price surges following announcements [3]. Group 3: Financial Performance - Jinlongyu's stock price doubled from under 17 yuan to over 40 yuan between May 20 and June 30, 2025, despite the company's declining financial performance [5]. - In 2024, Jinlongyu reported a revenue of 3.675 billion yuan, a decrease of 6.53% year-on-year, and a net profit of 140 million yuan, down 14.14% [8]. - The company experienced a slight recovery in Q1 2025, with revenues of 899 million yuan, up 31.14% year-on-year, and a net profit of 37.17 million yuan, an increase of 2.94% [8].

Core Viewpoint - The Shenzhen Stock Exchange criticized Jinlongyu for violating regulations related to the disclosure of significant information that could impact stock prices, particularly regarding its solid-state battery business [1][3]. Group 1: Regulatory Actions - The Shenzhen Stock Exchange announced a reprimand against Jinlongyu and its executives for failing to provide accurate and complete information regarding a significant order for solid-state battery cells [1][3]. - Jinlongyu's chairman, general manager, and board secretary were held responsible for the company's violations and received a formal reprimand [3]. Group 2: Stock Performance - Following the announcement of a significant order on May 20, 2025, Jinlongyu's stock price experienced a surge, hitting the daily limit up four times within six trading days [2]. - The stock price increased from below 17 yuan to over 40 yuan between May 20 and June 30, 2025, effectively doubling in value [5]. Group 3: Financial Performance - Jinlongyu reported a decline in revenue and net profit for 2024, with revenue at 3.675 billion yuan (down 6.53%) and net profit at 140 million yuan (down 14.14%) [8]. - The company experienced a negative cash flow of 18.6 million yuan, marking a significant decline of 109.3% [8]. - In the first quarter of 2025, Jinlongyu's performance improved, with revenue of 899 million yuan (up 31.14%) and a net profit of 37.17 million yuan (up 2.94%) [8].