Core Viewpoint - The company reported a significant increase in revenue for the first half of 2025, but experienced a decline in net profit compared to the previous year [1] Financial Performance - The company achieved an operating income of 432 million yuan, representing a year-on-year growth of 30.01% [1] - The net profit attributable to the parent company was 5.38 million yuan, which reflects a year-on-year decrease of 36.21% [1] - The basic earnings per share were reported at 0.0331 yuan [1]

智通财经APP讯，亚世光电(002952.SZ)发布2025年半年度报告，报告期内，公司实现营业收入4.32亿 元，同比增长30.01%。实现归属于上市公司股东的净利润538.04万元，同比下降36.21%。实现归属于上 市公司股东的扣除非经常性损益的净利润62.77万元，同比下降90.82%。基本每股收益0.0331元。 ...

Core Viewpoint - Asia Optical achieved a revenue of 432 million yuan in the first half of 2025, marking a year-on-year growth of 30.01%, while the net profit attributable to shareholders decreased by 36.21% to 5.38 million yuan [1] Financial Performance - Revenue for the first half of 2025 reached 432 million yuan, reflecting a 30.01% increase compared to the previous year [1] - Net profit attributable to shareholders was 5.38 million yuan, which represents a decline of 36.21% year-on-year [1] - Basic earnings per share stood at 0.0331 yuan [1]

Group 1 - The company, Asia Optical (SZ 002952), reported a revenue of approximately 432 million yuan for the first half of 2025, representing a year-on-year increase of 30.01% [1] - The net profit attributable to shareholders was approximately 5.38 million yuan, showing a year-on-year decrease of 36.21% [1] - The basic earnings per share were 0.0331 yuan, which is a decrease of 36.35% compared to the previous year [1] Group 2 - The current market capitalization of Asia Optical is 3.5 billion yuan [2]

格隆汇8月24日丨亚世光电(002952.SZ)公布2025年半年度报告，报告期实现营业收入4.32亿元，同比增 长30.01%；归属于上市公司股东的净利润538.04万元，同比下降6.21%；归属于上市公司股东的扣除非 经常性损益的净利润62.77万元，同比下降90.82%；基本每股收益0.0331元。 ...

亚世光电（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 编制单位：亚世光电（集团）股份有限公司 单位：万元 | | | | 占用方与上市公 | 上市公司核算的 | 2025 | 年初占用资 | 2025 年半年度占用 | 2025 年半年度占 | 2025 年半年度偿还 | 2025年6月30日占 | | 占用性质 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 非经营性资金占用 | 资金占用方名称 | | 司的关联关系 | 会计科目 | 金余额 | | 累计发生金额(不含 利息) | 用资金的利息(如 有) | 累计发生金额 | 用资金余额 | 占用形成原因 | | | 控股股东、实际控制人及其 | | | | | | | | | | - | | | | 附属企业 | | | | | | | | | | - | | | | | | | | | | | | | | - | | | | 小计 | | — | — | — | | | - - | | - - ...

亚世光电（集团）股份有限公司 2025 年半年度财务报告 亚世光电（集团）股份有限公司 2025 年半年度财务报告 2025 年 8 月 1 亚世光电（集团）股份有限公司 2025 年半年度财务报告 一、审计报告 半年度报告是否经过审计 □是 否 公司半年度财务报告未经审计。 二、财务报表 财务附注中报表的单位为：元 1、合并资产负债表 单位：元 | 项目 | 期末余额 | 期初余额 | | --- | --- | --- | | 流动资产： | | | | 货币资金 | 102,772,746.83 | 190,596,030.07 | | 结算备付金 | | | | 拆出资金 | | | | 交易性金融资产 | | | | 衍生金融资产 | | | | 应收票据 | 7,105,444.46 | 8,617,932.94 | | 应收账款 | 178,302,302.59 | 139,751,282.39 | | 应收款项融资 | 1,653,893.78 | 119,874.00 | | 预付款项 | 8,153,952.87 | 3,557,969.03 | | 应收保费 | | | | 应收分保账款 ...

证券代码：002952 证券简称：亚世光电 公告编号：2025-033 亚世光电（集团）股份有限公司 第五届董事会第七次会议决议公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 一、董事会会议召开情况 1、会议通知的时间和方式：会议通知于 2025 年 8 月 12 日以通讯形式发出； 2、会议的时间、地点和方式：2025 年 8 月 22 日在亚世光电（集团）股份有 限公司（以下简称"公司"）会议室以现场方式召开； 5、本次会议的召开符合有关法律、行政法规、部门规章、规范性文件和《公 司章程》的规定，会议所作决议合法有效。 二、董事会会议审议情况 1、审议通过了《关于公司<2025 年半年度报告>及<2025 年半年度报告摘要> 的议案》 同意公司编制的《2025 年半年度报告》及《2025 年半年度报告摘要》，具 体 内 容 详 见 公 司 在 《 中 国 证 券 报 》 、 《 证 券 时 报 》 和 巨 潮 资 讯 网 （http://www.cninfo.com.cn）披露的《2025 年半年度报告摘要》（公告编号： 2025-034）及在巨潮资 ...

[Section I Important Notice, Table of Contents, and Definitions](index=2&type=section&id=第一节%20重要提示%E3%80%81目录%E5%92%8C%E9%87%8A%E4%B9%89) This section provides important notices, the table of contents, and definitions of key terms used throughout the report [Important Notice](index=2&type=section&id=重要提示) The company's board, supervisors, and senior management guarantee the semi-annual report's truthfulness, accuracy, and completeness, with no plans for profit distribution - Company's board of directors, supervisory board, and senior management guarantee the truthfulness, accuracy, and completeness of the semi-annual report content[4](index=4&type=chunk) - Company head Jia Jitao, chief accountant Jia Yan, and head of accounting Yuan Jing declare the financial report is true, accurate, and complete[5](index=5&type=chunk) - The company plans no cash dividends, no bonus shares, and no capital increase from capital reserves for this reporting period[6](index=6&type=chunk) [Catalogue of Documents for Inspection](index=4&type=section&id=备查文件目录) Documents for inspection include signed financial statements, all publicly disclosed company files, and the semi-annual report signed by the legal representative - Documents for inspection include financial statements signed and sealed by the company head, chief accountant, and head of accounting department[10](index=10&type=chunk) - Originals of all company documents and announcements publicly disclosed on the CSRC designated website during the reporting period[10](index=10&type=chunk) - The 2025 semi-annual report signed by the legal representative[10](index=10&type=chunk) [Definitions](index=5&type=section&id=释义) This section defines common terms, including company names, major subsidiaries, and industry-specific terms, clarifying the reporting period as H1 2025 - Yeshiled Optoelectronics, the Company, or the Company Limited by Shares refers to Yeshiled Optoelectronics (Group) Co, Ltd[11](index=11&type=chunk) - Reporting period refers to January 1, 2025 - June 30, 2025[11](index=11&type=chunk) - TFT refers to Thin Film Transistor, LCD refers to Liquid Crystal Display, LCM refers to Liquid Crystal Module[11](index=11&type=chunk) [Section II Company Profile and Key Financial Indicators](index=6&type=section&id=第二节%20公司简介%E5%92%8C%E4%B8%BB%E8%A6%81%E8%B4%A2%E5%8A%A1%E6%8C%87%E6%A0%87) This section outlines the company's basic information, contact details, and key financial performance metrics for the reporting period [I Company Profile](index=6&type=section&id=一%E3%80%81公司简介) Yeshiled Optoelectronics (Group) Co, Ltd, stock code **002952**, is listed on the Shenzhen Stock Exchange, with Jia Jitao as its legal representative - Company stock abbreviation Yeshiled Optoelectronics, stock code **002952**, listed on Shenzhen Stock Exchange[15](index=15&type=chunk) - The company's legal representative is Jia Jitao[15](index=15&type=chunk) [II Contact Persons and Information](index=6&type=section&id=二%E3%80%81联系人和联系方式) The company's Board Secretary is Bian Ruiqun, and Securities Affairs Representative is Peng Bing, sharing the same contact details - Board Secretary is Bian Ruiqun, Securities Affairs Representative is Peng Bing[16](index=16&type=chunk) - Contact address is No 288 Yueling Road, Lishan District, Anshan City, Liaoning Province, phone 0412-5218968, fax 0412-5211729, email yesdongban@yes-lcd.com[15](index=15&type=chunk)[16](index=16&type=chunk) [III Other Information](index=6&type=section&id=三%E3%80%81其他情况) No changes occurred in the company's registered address, office address, website, email, or information disclosure locations during the reporting period - No changes in registered address, office address, postal code, website, or email during the reporting period, refer to 2024 annual report[17](index=17&type=chunk) - No changes in the designated stock exchange website and media for semi-annual report disclosure or report placement during the reporting period, refer to 2024 annual report[18](index=18&type=chunk) [IV Key Accounting Data and Financial Indicators](index=6&type=section&id=四%E3%80%81主要会计数据和财务指标) In H1 2025, operating revenue increased by **30.01%**, but net profit attributable to shareholders decreased by **36.21%**, and operating cash flow turned negative 2025 Semi-Annual Key Accounting Data and Financial Indicators | Indicator | Current Period (Yuan) | Prior Year (Yuan) | YoY Change (%) | | :--- | :--- | :--- | :--- | | Operating Revenue | 432,473,378.92 | 332,652,477.81 | 30.01% | | Net Profit Attributable to Shareholders | 5,380,415.59 | 8,434,050.28 | -36.21% | | Net Profit Attributable to Shareholders (Excluding Non-Recurring Items) | 627,709.99 | 6,841,202.57 | -90.82% | | Net Cash Flow from Operating Activities | -34,933,694.14 | 51,452,126.15 | -167.90% | | Basic Earnings Per Share (Yuan/share) | 0.0331 | 0.0520 | -36.35% | | Diluted Earnings Per Share (Yuan/share) | 0.0331 | 0.0520 | -36.35% | | Weighted Average Return on Net Assets | 0.62% | 0.98% | -0.36% | | Indicator | End of Current Period (Yuan) | End of Prior Year (Yuan) | Change from Prior Year End (%) | | :--- | :--- | :--- | :--- | | Total Assets | 1,172,157,939.17 | 1,156,139,571.20 | 1.39% | | Net Assets Attributable to Shareholders | 863,131,597.48 | 866,183,324.20 | -0.35% | [V Differences in Accounting Data under Domestic and International Accounting Standards](index=7&type=section&id=五%E3%80%81境内外会计准则下会计数据差异) The company reported no differences in net profit and net assets between financial reports prepared under international or overseas accounting standards and Chinese accounting standards - No differences in net profit and net assets between financial reports disclosed under international accounting standards and Chinese accounting standards[22](index=22&type=chunk) - No differences in net profit and net assets between financial reports disclosed under overseas accounting standards and Chinese accounting standards[23](index=23&type=chunk) [VI Non-Recurring Gains and Losses Items and Amounts](index=7&type=section&id=六%E3%80%81非经常性损益项目及金额) Total non-recurring gains and losses for the period were **4,752,705.60 Yuan**, primarily from government subsidies and entrusted investment income 2025 Semi-Annual Non-Recurring Gains and Losses Items and Amounts | Item | Amount (Yuan) | | :--- | :--- | | Non-current asset disposal gains/losses | 8,494.85 | | Government subsidies included in current profit/loss | 3,800,004.64 | | Fair value changes and disposal gains/losses from financial assets/liabilities held by non-financial enterprises | -177,633.00 | | Gains/losses from entrusted investment or asset management | 2,172,569.42 | | Other non-operating income and expenses | -67,210.34 | | Less: Income tax impact | 618,483.31 | | Minority interest impact (after tax) | 365,036.66 | | Total | 4,752,705.60 | - No other items meeting the definition of non-recurring gains/losses, nor reclassification of non-recurring items as recurring[26](index=26&type=chunk) [Section III Management Discussion and Analysis](index=9&type=section&id=第三节%20管理层讨论与分析) This section provides an in-depth analysis of the company's main business, core competencies, financial performance, and risk factors [I Main Business Activities During the Reporting Period](index=9&type=section&id=一%E3%80%81报告期内公司从事的主要业务) The company specializes in customized LCD and e-paper display modules for various industries, operating on an "order-to-production" model with strict quality control - Specializes in optoelectronic display industry, main business is R&D, design, production, and sales of customized LCD and e-paper display modules[28](index=28&type=chunk) - Products widely used in industrial control, medical instruments, white goods, automotive displays, smart retail, exported to over 20 countries and regions including the US, Europe, Japan, Korea, and mainland China[28](index=28&type=chunk) - Adopts an "order-to-production" model, with procurement, production, and sales centered on customization, managed by SAP system for all production processes, with high emphasis on quality control[29](index=29&type=chunk)[30](index=30&type=chunk)[32](index=32&type=chunk) [II Analysis of Core Competencies](index=10&type=section&id=二%E3%80%81核心竞争力分析) Core competencies include experienced talent, strong customer relationships with global brands, significant technological innovation with **149 patents**, and robust quality management systems - Possesses a professional R&D team and experienced management, a crucial foundation for stable development in the LCD industry[33](index=33&type=chunk) - Established long-term stable cooperative relationships with internationally renowned enterprises such as Samsung, Omron, HP, and Schneider, with products covering over 20 countries and regions including Europe, America, Japan, and Korea[34](index=34&type=chunk) - As a high-tech enterprise, holds **149 domestic patents** (including **23 invention patents**) as of the reporting period end, and obtained ISO9000, ISO14000, IATF16949 quality management system certifications, achieving full-process digital control[35](index=35&type=chunk)[36](index=36&type=chunk)[38](index=38&type=chunk) [III Analysis of Main Business](index=11&type=section&id=三%E3%80%81主营业务分析) H1 2025 operating revenue grew by **30.01%** due to increased orders, but net profit significantly declined, and operating cash flow turned negative, mainly due to increased raw material payments and exchange losses 2025 Semi-Annual Main Financial Data Year-on-Year Changes | Indicator | Current Period (Yuan) | Prior Year (Yuan) | YoY Change (%) | Reason for Change | | :--- | :--- | :--- | :--- | :--- | | Operating Revenue | 432,473,378.92 | 332,652,477.81 | 30.01% | Sales orders increased, leading to revenue growth | | Net Profit Attributable to Shareholders | 5,380,415.59 | 8,434,050.28 | -36.21% | | | Net Profit Attributable to Shareholders (Excluding Non-Recurring Items) | 627,709.99 | 6,841,202.57 | -90.82% | | | Net Cash Flow from Operating Activities | -34,933,694.14 | 51,452,126.15 | -167.90% | Increased payments for raw materials | | Financial Expenses | 2,219,472.84 | -4,595,155.16 | 148.30% | USD to RMB exchange rate fluctuations resulted in exchange losses this year, compared to exchange gains last year | 2025 Semi-Annual Operating Revenue Composition (by Product) | Product | Current Period Amount (Yuan) | % of Operating Revenue | Prior Year Amount (Yuan) | % of Operating Revenue | YoY Change (%) | | :--- | :--- | :--- | :--- | :--- | :--- | | LCD Display Panels and Modules | 217,480,443.14 | 50.29% | 222,797,177.70 | 66.98% | -2.39% | | E-paper Display Modules | 210,312,112.96 | 48.63% | 103,598,411.58 | 31.14% | 103.01% | | Other | 4,680,822.82 | 1.08% | 6,256,888.53 | 1.88% | -25.19% | - No significant changes in the company's profit structure or sources of profit during the reporting period[41](index=41&type=chunk) [IV Analysis of Non-Main Business](index=12&type=section&id=四%E3%80%81非主营业务分析) The company had no non-main business analysis content during the reporting period - No non-main business analysis during the reporting period[44](index=44&type=chunk) [V Analysis of Assets and Liabilities](index=13&type=section&id=五%E3%80%81资产及负债状况分析) Total assets increased by **1.39%**, while monetary funds decreased by **7.72%** due to increased raw material payments and structured deposit reclassification; accounts receivable and inventory grew by **3.12%** and **1.51%** respectively 2025 Semi-Annual Significant Changes in Asset Composition | Item | End of Current Period Amount (Yuan) | % of Total Assets | End of Prior Year Amount (Yuan) | % of Total Assets | % Change in Proportion | Explanation of Significant Change | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Monetary Funds | 102,772,746.83 | 8.77% | 190,596,030.07 | 16.49% | -7.72% | Increased payments for raw materials; increased balance of structured deposits reclassified as other current assets | | Accounts Receivable | 178,302,302.59 | 15.21% | 139,751,282.39 | 12.09% | 3.12% | Increased revenue led to a corresponding increase in accounts receivable balance | | Inventory | 338,074,241.60 | 28.84% | 315,994,966.48 | 27.33% | 1.51% | Increased orders and sales scale led to a corresponding increase in inventory scale | | Lease Liabilities | 3,297,528.13 | 0.28% | 1,180,501.94 | 0.10% | 0.18% | Vietnamese subsidiary added new leased factory buildings, and rent payable was recognized as lease liabilities | 2025 Semi-Annual Key Overseas Asset Information | Specific Asset Content | Asset Scale (10,000 Yuan) | Location | Operating Model | Profit/Loss (10,000 Yuan) | % of Overseas Assets to Company's Net Assets | | :--- | :--- | :--- | :--- | :--- | :--- | | Total Assets of Vietnamese Subsidiary | 19,237.78 | Vietnam | On-demand production, flexible response to customer needs | -58.98 | 21.85% | 2025 Semi-Annual Assets and Liabilities Measured at Fair Value | Item | Beginning Balance (10,000 Yuan) | Fair Value Change Gain/Loss for Current Period (10,000 Yuan) | Ending Balance (10,000 Yuan) | | :--- | :--- | :--- | :--- | | Financial Liabilities | 27.55 | 3.50 | 31.05 | - No asset rights restrictions at the end of the reporting period[50](index=50&type=chunk) [VI Analysis of Investment Status](index=14&type=section&id=六%E3%80%81投资状况分析) The company had no significant equity, non-equity, or securities investments, primarily engaging in forward foreign exchange contracts for hedging purposes, with an ending investment amount of **0 Yuan** - No securities investments, significant equity investments, or ongoing significant non-equity investments during the reporting period[50](index=50&type=chunk) 2025 Semi-Annual Derivative Investment Information (for Hedging Purposes) | Derivative Investment Type | Beginning Balance (10,000 Yuan) | Fair Value Change Gain/Loss for Current Period (10,000 Yuan) | Ending Balance (10,000 Yuan) | % of Ending Investment Amount to Company's Net Assets at Period End | | :--- | :--- | :--- | :--- | :--- | | Forward Foreign Exchange Settlement | 2,121.27 | -3.5 | 0 | 0.00% | - Implements multiple control measures, including careful selection of counterparties, choosing highly liquid and controllable financial derivatives, continuous contract monitoring, and timely strategy adjustments during market fluctuations, to mitigate exchange rate volatility risks[51](index=51&type=chunk) - No use of raised funds or speculative derivative investments during the reporting period[53](index=53&type=chunk)[54](index=54&type=chunk) [VII Significant Asset and Equity Sales](index=16&type=section&id=七%E3%80%81重大资产和股权出售) The company did not engage in any significant asset or equity sales during the reporting period - No significant asset sales during the reporting period[55](index=55&type=chunk) - No significant equity sales during the reporting period[56](index=56&type=chunk) [VIII Analysis of Major Controlled and Invested Companies](index=16&type=section&id=八%E3%80%81主要控股参股公司分析) Major subsidiary Qixin Optoelectronics Co, Ltd saw a **90.22%** increase in operating revenue but a net loss of **8.76 million Yuan**, a **304.92%** decrease, due to intensified market competition 2025 Semi-Annual Financial Information of Major Controlled Subsidiaries | Company Name | Company Type | Main Business | Registered Capital (10,000 Yuan) | Total Assets (10,000 Yuan) | Net Assets (10,000 Yuan) | Operating Revenue (10,000 Yuan) | Operating Profit (10,000 Yuan) | Net Profit (10,000 Yuan) | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Qixin Optoelectronics Co, Ltd | Subsidiary | E-paper display module R&D, design, production, and sales | 10,800 | 47,717.39 | 8,020.17 | 19,941.43 | -881.07 | -876.01 | - Qixin Optoelectronics Co, Ltd specializes in e-paper display modules, offering advantages such as ultra-low power consumption, paper-like feel, and visibility under sunlight[58](index=58&type=chunk) - Qixin Optoelectronics' operating revenue increased by **90.22%**, but net profit was a loss of **8.76 million Yuan**, a **304.92%** decrease, mainly due to intensified market competition leading to lower product prices and reduced gross margins[59](index=59&type=chunk) [IX Information on Structured Entities Controlled by the Company](index=17&type=section&id=九%E3%80%81公司控制的结构化主体情况) The company had no structured entities under its control during the reporting period - No structured entities controlled by the company during the reporting period[60](index=60&type=chunk) [X Risks Faced by the Company and Countermeasures](index=17&type=section&id=十%E3%80%81公司面临的风险和应对措施) The company faces raw material supply, customer concentration, overseas market, and exchange rate risks, mitigated by monitoring prices, diversifying customers, and hedging foreign exchange exposure - Faces raw material supply risk, where fluctuations in major raw material prices may impact operating performance[60](index=60&type=chunk) - Sales to the top 5 customers account for **53.76%** of total sales, indicating a risk of customer concentration[60](index=60&type=chunk) - High proportion of overseas sales exposes the company to risks from political and economic situations and trade policy changes in overseas markets[61](index=61&type=chunk) - Overseas sales primarily settled in USD, exposing the company to adverse impacts from USD/RMB exchange rate fluctuations, which are hedged through forward foreign exchange settlement transactions[62](index=62&type=chunk) [XI Implementation of Market Value Management System and Valuation Enhancement Plan](index=18&type=section&id=十一%E3%80%81市值管理制度和估值提升计划的制定落实情况) The company's Board of Directors approved the "Market Value Management System" on June 26, 2025, to regulate market value management and protect investor interests, but no valuation enhancement plan was disclosed - The company has formulated the "Market Value Management System," approved by the Fifth Board of Directors' Fifth Meeting on June 26, 2025[63](index=63&type=chunk) - The system aims to strengthen the company's market value management, further regulate market value management behavior, and protect the legitimate rights and interests of the company, investors, and other stakeholders[63](index=63&type=chunk) - No valuation enhancement plan was disclosed[63](index=63&type=chunk) [XII Implementation of "Quality and Return Dual Improvement" Action Plan](index=18&type=section&id=十二%E3%80%81%E2%80%9C质量回报双提升%E2%80%9D行动方案贯彻落实情况) The company did not disclose any "Quality and Return Dual Improvement" action plan announcements during the reporting period - No "Quality and Return Dual Improvement" action plan announcement disclosed during the reporting period[64](index=64&type=chunk) [Section IV Corporate Governance, Environment, and Society](index=19&type=section&id=第四节%20公司治理%E3%80%81环境%E5%92%8C%E7%A4%BE%E4%BC%9A) This section covers changes in company leadership, profit distribution, employee incentives, environmental disclosures, and social responsibility initiatives [I Changes in Directors, Supervisors, and Senior Management](index=19&type=section&id=一%E3%80%81公司董事%E3%80%81监事%E3%80%81高级管理人员变动情况) No changes occurred in the company's directors, supervisors, or senior management during the reporting period - No changes in directors, supervisors, and senior management during the reporting period, refer to 2024 annual report[66](index=66&type=chunk) [II Profit Distribution and Capital Reserve Conversion to Share Capital in the Current Period](index=19&type=section&id=二%E3%80%81本报告期利润分配及资本公积金转增股本情况) The company plans no cash dividends, bonus shares, or capital increase from capital reserves for the semi-annual period - No cash dividends, bonus shares, or capital increase from capital reserves planned for the semi-annual period[67](index=67&type=chunk) [III Implementation of Equity Incentive Plans, Employee Stock Ownership Plans, or Other Employee Incentive Measures](index=19&type=section&id=三%E3%80%81公司股权激励计划%E3%80%81员工持股计划或其他员工激励措施的实施情况) The company had no equity incentive plans, employee stock ownership plans, or other employee incentive measures and their implementation during the reporting period - No equity incentive plans, employee stock ownership plans, or other employee incentive measures and their implementation during the reporting period[68](index=68&type=chunk) [IV Environmental Information Disclosure](index=19&type=section&id=四%E3%80%81环境信息披露情况) The company and its major subsidiaries were not included in the list of enterprises required to disclose environmental information by law - Neither the listed company nor its major subsidiaries are included in the list of enterprises required to disclose environmental information by law[69](index=69&type=chunk) [V Social Responsibility](index=19&type=section&id=五%E3%80%81社会责任情况) The company fulfills social responsibilities through sound governance, protecting shareholder and employee rights, environmental protection, and contributing to local economic development - Strictly adheres to laws and regulations, establishes sound corporate governance and internal control systems, ensures truthful, accurate, timely, complete, and fair information disclosure, protecting shareholder and creditor rights[69](index=69&type=chunk) - Establishes human resource management systems, improves compensation and welfare, provides a safe and comfortable working environment, and focuses on employee training and development in accordance with labor laws and regulations[69](index=69&type=chunk) - Highly values environmental protection, strictly implements the ISO14000 environmental management system, actively carries out energy saving and emission reduction activities, and has been awarded the national "Green Factory" title[70](index=70&type=chunk)[71](index=71&type=chunk) - Consistently upholds lawful operation and tax compliance as fundamental development principles, accurately accounts for operating results, actively pays taxes, creates employment opportunities, and supports local economic development[71](index=71&type=chunk) [Section V Significant Matters](index=21&type=section&id=第五节%20重要事项) This section details significant matters including commitments, related party transactions, litigation, and other events impacting the company [I Fulfilled and Overdue Unfulfilled Commitments by Actual Controller, Shareholders, Related Parties, Acquirers, and the Company During and as of the End of the Reporting Period](index=21&type=section&id=一%E3%80%81公司实际控制人%E3%80%81股东%E3%80%81关联方%E3%80%81收购人以及公司等承诺相关方在报告期内履行完毕及截至报告期末超期未履行完毕的承诺事项) Commitments by directors, senior management, controlling shareholder, and actual controller regarding share transfer, reduction price, lock-up period, and avoiding horizontal competition were strictly fulfilled, with no overdue unfulfilled commitments - Commitments by directors and senior management (Jia Jitao, Bian Ruiqun, and Lin Xuefeng) regarding share transfer, reduction price, and lock-up period were strictly fulfilled during the reporting period[73](index=73&type=chunk) - Commitments by controlling shareholder Yeshiled Hong Kong and actual controller Jia Jitao regarding avoiding horizontal competition were strictly fulfilled during the reporting period[74](index=74&type=chunk) - No overdue unfulfilled commitments[75](index=75&type=chunk) [II Non-Operating Funds Occupied by Controlling Shareholders and Other Related Parties from the Listed Company](index=23&type=section&id=二%E3%80%81控股股东及其他关联方对上市公司的非经营性占用资金情况) The company had no non-operating funds occupied by controlling shareholders or other related parties during the reporting period - No non-operating funds occupied by controlling shareholders or other related parties from the listed company during the reporting period[76](index=76&type=chunk) [III Irregular External Guarantees](index=23&type=section&id=三%E3%80%81违规对外担保情况) The company had no irregular external guarantees during the reporting period - No irregular external guarantees during the reporting period[77](index=77&type=chunk) [IV Appointment and Dismissal of Accounting Firms](index=24&type=section&id=四%E3%80%81聘任%E3%80%81解聘会计师事务所情况) The company's semi-annual financial report was not audited - Semi-annual financial report was not audited[78](index=78&type=chunk) [V Board of Directors' and Supervisory Board's Explanation on "Non-Standard Audit Report" for the Current Period](index=24&type=section&id=五%E3%80%81董事会%E3%80%81监事会对会计师事务所本报告期%E2%80%9C非标准审计报告%E2%80%9D的说明) The company had no non-standard audit report for the current period, thus no explanation from the Board of Directors or Supervisory Board is required - No non-standard audit report for the current period[79](index=79&type=chunk) [VI Board of Directors' Explanation on "Non-Standard Audit Report" for the Previous Year](index=24&type=section&id=六%E3%80%81董事会对上年度%E2%80%9C非标准审计报告%EE%80%9D相关情况的说明) The company had no non-standard audit report for the previous year, thus no explanation from the Board of Directors is required - No non-standard audit report for the previous year[79](index=79&type=chunk) [VII Bankruptcy and Reorganization Matters](index=24&type=section&id=七%E3%80%81破产重整相关事项) The company had no bankruptcy and reorganization matters during the reporting period - No bankruptcy and reorganization matters during the reporting period[79](index=79&type=chunk) [VIII Litigation Matters](index=24&type=section&id=八%E3%80%81诉讼事项) The company had no significant litigation or arbitration matters during the reporting period - No significant litigation or arbitration matters during the reporting period[80](index=80&type=chunk) [IX Penalties and Rectification](index=24&type=section&id=九%E3%80%81处罚及整改情况) The company had no penalties or rectification situations during the reporting period - No penalties or rectification situations during the reporting period[80](index=80&type=chunk) [X Integrity Status of the Company, its Controlling Shareholder, and Actual Controller](index=24&type=section&id=十%E3%80%81公司及其控股股东%E3%80%81实际控制人的诚信状况) The company had no integrity issues requiring disclosure during the reporting period - No integrity issues requiring disclosure during the reporting period[81](index=81&type=chunk) [XI Significant Related Party Transactions](index=24&type=section&id=十一%E3%80%81重大关联交易) The company had no related party transactions concerning daily operations, asset/equity acquisition/disposal, joint external investments, or related party creditor/debtor relationships - No related party transactions related to daily operations during the reporting period[81](index=81&type=chunk) - No related party transactions involving asset or equity acquisition/disposal during the reporting period[83](index=83&type=chunk) - No related party creditor/debtor relationships, or deposits, loans, credit, or other financial business with affiliated financial companies during the reporting period[85](index=85&type=chunk)[86](index=86&type=chunk) [XII Significant Contracts and Their Performance](index=25&type=section&id=十二%E3%80%81重大合同及其履行情况) The company had no entrustment, contracting, leasing, or significant guarantee matters, but engaged in entrusted wealth management with an outstanding balance of **215 million Yuan** - No entrustment, contracting, or leasing situations during the reporting period[89](index=89&type=chunk) - No significant guarantee situations during the reporting period[90](index=90&type=chunk) 2025 Semi-Annual Entrusted Wealth Management Information | Specific Type | Source of Entrusted Funds | Amount of Entrusted Wealth Management (10,000 Yuan) | Unexpired Balance (10,000 Yuan) | Overdue Unrecovered Amount (10,000 Yuan) | | :--- | :--- | :--- | :--- | :--- | | Bank Wealth Management Products | Own funds | 48,000 | 21,500 | 0 | - No other significant contracts during the reporting period[93](index=93&type=chunk) [XIII Explanation of Other Significant Matters](index=26&type=section&id=十三%E3%80%81其他重大事项的说明) The company had no other significant matters requiring explanation during the reporting period - No other significant matters requiring explanation during the reporting period[94](index=94&type=chunk) [XIV Significant Matters of Company Subsidiaries](index=26&type=section&id=十四%E3%80%81公司子公司重大事项) The company had no significant matters concerning its subsidiaries during the reporting period - No significant matters concerning subsidiaries during the reporting period[95](index=95&type=chunk) [Section VI Share Changes and Shareholder Information](index=27&type=section&id=第六节%20股份变动及股东情况) This section details changes in share capital, shareholder numbers, and shareholdings of directors, supervisors, and senior management [I Share Change Information](index=27&type=section&id=一%E3%80%81股份变动情况) Total share capital remained **164,340,000 shares**; restricted shares decreased by **1,200,000 shares** while unrestricted shares increased by the same amount, primarily due to a senior executive's share sale 2025 Semi-Annual Share Change Information | Share Type | Number Before Change (shares) | % Before Change | Increase/Decrease in Current Change (shares) | Number After Change (shares) | % After Change | | :--- | :--- | :--- | :--- | :--- | :--- | | I. Restricted Shares | 32,294,968 | 19.65% | -1,200,000 | 31,094,968 | 18.92% | | II. Unrestricted Shares | 132,045,032 | 80.35% | 1,200,000 | 133,245,032 | 81.08% | | III. Total Shares | 164,340,000 | 100.00% | 0 | 164,340,000 | 100.00% | - Main reason for share change was a senior executive's share reduction in the prior year, leading to changes in their executive-locked shares[99](index=99&type=chunk) 2025 Semi-Annual Restricted Share Change Information | Shareholder Name | Restricted Shares at Beginning of Period (shares) | Shares Released from Restriction in Current Period (shares) | Restricted Shares at End of Period (shares) | Reason for Restriction | | :--- | :--- | :--- | :--- | :--- | | Bian Ruiqun | 15,660,000 | 1,200,000 | 14,460,000 | Executive-locked shares | [II Securities Issuance and Listing](index=28&type=section&id=二%E3%80%81证券发行与上市情况) The company had no securities issuance or listing activities during the reporting period - No securities issuance or listing activities during the reporting period[102](index=102&type=chunk) [III Number of Shareholders and Shareholding Information](index=28&type=section&id=三%E3%80%81公司股东数量及持股情况) As of the reporting period end, the company had **23,328** common shareholders; Yeshiled Optoelectronics (Hong Kong) Co, Ltd is the controlling shareholder with **36.65%** - Total number of common shareholders at the end of the reporting period was **23,328**[103](index=103&type=chunk) 2025 Semi-Annual 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) | Number of Restricted Shares Held (shares) | Number of Unrestricted Shares Held (shares) | | :--- | :--- | :--- | :--- | :--- | :--- | | Yeshiled Optoelectronics (Hong Kong) Co, Ltd | Overseas Legal Person | 36.65% | 60,223,500.00 | 0 | 60,223,500.00 | | Lin Xuefeng | Domestic Natural Person | 11.91% | 19,570,783.00 | 15,659,987.00 | 3,910,796.00 | | Bian Ruiqun | Domestic Natural Person | 11.73% | 19,280,000.00 | 14,460,000.00 | 4,820,000.00 | | Xie Zhigang | Domestic Natural Person | 7.76% | 12,760,000.00 | 0 | 12,760,000.00 | - Actual controller Mr Jia Jitao holds **100%** equity of controlling shareholder Yeshiled Optoelectronics (Hong Kong) Co, Ltd[105](index=105&type=chunk) - As of the end of this reporting period, Yeshiled Optoelectronics (Group) Co, Ltd's share repurchase special securities account holds **2,000,000 shares**, accounting for **1.22%** of the company's total share capital[105](index=105&type=chunk) [IV Changes in Shareholdings of Directors, Supervisors, and Senior Management](index=30&type=section&id=四%E3%80%81董事%E3%80%81监事和高级管理人员持股变动) Director and Vice President Lin Xuefeng reduced his shareholding by **1,309,200 shares**, with an ending holding of **19,570,783 shares**; other directors, supervisors, and senior management had no changes 2025 Semi-Annual Changes in Shareholdings of Directors, Supervisors, and Senior Management | Name | Position | Employment Status | Shares Held at Beginning of Period (shares) | Shares Reduced in Current Period (shares) | Shares Held at End of Period (shares) | | :--- | :--- | :--- | :--- | :--- | :--- | | Lin Xuefeng | Director, Vice President | Current | 20,879,983 | 1,309,200 | 19,570,783 | [V Changes in Controlling Shareholder or Actual Controller](index=30&type=section&id=五%E3%80%81控股股东或实际控制人变更情况) The company's controlling shareholder and actual controller remained unchanged during the reporting period - No change in controlling shareholder during the reporting period[108](index=108&type=chunk) - No change in actual controller during the reporting period[108](index=108&type=chunk) [VI Preferred Share Information](index=31&type=section&id=六%E3%80%81优先股相关情况) The company had no preferred shares during the reporting period - No preferred shares during the reporting period[109](index=109&type=chunk) [Section VII Bond-Related Information](index=32&type=section&id=第七节%20债券相关情况) This section confirms the absence of any bond-related information for the company during the reporting period [Bond-Related Information](index=32&type=section&id=债券相关情况) The company had no bond-related information during the reporting period - No bond-related information during the reporting period[111](index=111&type=chunk) [Section VIII Financial Report](index=33&type=section&id=第八节%20财务报告) This section presents the company's unaudited semi-annual financial statements, including balance sheets, income statements, and cash flow statements, along with detailed notes [I Audit Report](index=33&type=section&id=一%E3%80%81审计报告) The company's semi-annual financial report was not audited - Semi-annual financial report was not audited[113](index=113&type=chunk) [II Financial Statements](index=33&type=section&id=二%E3%80%81财务报表) This section presents the company's H1 2025 consolidated and parent company balance sheets, income statements, cash flow statements, and statements of changes in owners' equity Consolidated Balance Sheet Key Data as of June 30, 2025 | Item | Ending Balance (Yuan) | | :--- | :--- | | Total Assets | 1,172,157,939.17 | | Total Liabilities | 291,722,709.66 | | Total Owners' Equity Attributable to Parent Company | 863,131,597.48 | | Minority Interests | 17,303,632.03 | | Total Owners' Equity | 880,435,229.51 | Consolidated Income Statement Key Data for H1 2025 | Item | Amount for Current Period (Yuan) | | :--- | :--- | | Total Operating Revenue | 432,473,378.92 | | Total Operating Costs | 429,606,806.32 | | Total Profit | 4,114,624.97 | | Net Profit | 3,490,869.41 | | Net Profit Attributable to Parent Company Shareholders | 5,380,415.59 | | Minority Interest Loss/Gain | -1,889,546.18 | Consolidated Cash Flow Statement Key Data for H1 2025 | Item | Amount for Current Period (Yuan) | | :--- | :--- | | Net Cash Flow from Operating Activities | -34,933,694.14 | | Net Cash Flow from Investing Activities | -43,985,120.79 | | Net Cash Flow from Financing Activities | -10,173,025.69 | | Net Increase in Cash and Cash Equivalents | -87,823,283.24 | [III Company Basic Information](index=51&type=section&id=三%E3%80%81公司基本情况) Yeshiled Optoelectronics (Group) Co, Ltd was registered in Liaoning Province on July 9, 2012, with a registered capital of **164.34 million Yuan**, listed on the New Third Board in 2015 and Shenzhen Stock Exchange in 2019, operating in computer, communication, and other electronic equipment manufacturing - Yeshiled Optoelectronics (Group) Co, Ltd was registered and established on July 9, 2012, at the Liaoning Provincial Administration for Industry and Commerce[150](index=150&type=chunk) - Registered capital, after multiple capital increases and share transfers, ultimately changed to **164.34 million Yuan**[155](index=155&type=chunk)[156](index=156&type=chunk) - Listed on the National Equities Exchange and Quotations on July 21, 2015, and traded on the Shenzhen Stock Exchange on March 28, 2019[154](index=154&type=chunk)[155](index=155&type=chunk) - Industry is computer, communication, and other electronic equipment manufacturing, legal representative is Jia Jitao[156](index=156&type=chunk) [IV Basis of Financial Statement Preparation](index=53&type=section&id=四%E3%80%81财务报表的编制基础) The financial statements are prepared on a going concern basis, adhering to Enterprise Accounting Standards and CSRC disclosure rules, with the company assessing its going concern ability as good for the next 12 months - Prepared on a going concern basis, recognizing and measuring transactions and events in accordance with Enterprise Accounting Standards and CSRC disclosure rules[158](index=158&type=chunk) - Assessed going concern ability for 12 months from the end of the reporting period, finding no issues affecting it[159](index=159&type=chunk) [V Significant Accounting Policies and Estimates](index=53&type=section&id=五%E3%80%81重要会计政策及会计估计) This section details the significant accounting policies and estimates for financial statement preparation, covering business combinations, financial instruments, asset impairment, employee compensation, revenue recognition, government grants, deferred income tax, and leases - Financial statements comply with Enterprise Accounting Standards, accurately and completely reflecting the company's financial position, operating results, changes in owners' equity, and cash flows[161](index=161&type=chunk) - Fiscal year runs from January 1 to December 31, normal operating cycle is one year, and functional currency is RMB[162](index=162&type=chunk)[163](index=163&type=chunk)[164](index=164&type=chunk) - Details the recognition, derecognition, classification, measurement, and impairment of financial instruments, as well as accounting treatments for business combinations, consolidated financial statements, and various assets (e.g., notes receivable, accounts receivable, inventory, fixed assets, intangible assets)[166](index=166&type=chunk)[171](index=171&type=chunk)[205](index=205&type=chunk)[249](index=249&type=chunk)[250](index=250&type=chunk)[255](index=255&type=chunk)[280](index=280&type=chunk)[291](index=291&type=chunk) - No significant changes in accounting policies and estimates during the reporting period[355](index=355&type=chunk) [VI Taxation](index=82&type=section&id=六%E3%80%81税项) Key taxes include VAT (**6%/13%**), Urban Maintenance and Construction Tax (**7%**), Corporate Income Tax (**15%** or **25%**), Education Surcharge (**3%**), and Local Education Surcharge (**2%**) 2025 Semi-Annual Major Tax Categories and Rates | Tax Category | Tax Basis | Tax Rate | | :--- | :--- | :--- | | Value-Added Tax | Taxable income | 6%/13% | | Urban Maintenance and Construction Tax | Amount of turnover tax payable | 7% | | Corporate Income Tax | Taxable income | 15%/25% | | Education Surcharge | Amount of turnover tax payable | 3% | | Local Education Surcharge | Amount of turnover tax payable | 2% | - The company and its subsidiary Qixin Optoelectronics Co, Ltd are recognized as high-tech enterprises, enjoying a **15%** corporate income tax preferential rate[357](index=357&type=chunk) - The company and its subsidiary Qixin Optoelectronics enjoy tax incentives for **100%** super deduction of R&D expenses and **100%** super deduction for employing disabled individuals[358](index=358&type=chunk) [VII Notes to Consolidated Financial Statement Items](index=83&type=section&id=七%E3%80%81合并财务报表项目注释) This section details the composition and changes of consolidated financial statement items, including monetary funds of **103 million Yuan**, accounts receivable of **178 million Yuan**, inventory of **338 million Yuan**, and accounts payable of **259 million Yuan** at period-end Consolidated Financial Statement Major Asset and Liability Items as of June 30, 2025 | Item | Ending Balance (Yuan) | Beginning Balance (Yuan) | | :--- | :--- | :--- | | Monetary Funds | 102,772,746.83 | 190,596,030.07 | | Accounts Receivable | 178,302,302.59 | 139,751,282.39 | | Inventory | 338,074,241.60 | 315,994,966.48 | | Accounts Payable | 258,560,130.68 | 235,078,256.17 | | Total Owners' Equity Attributable to Parent Company | 863,131,597.48 | 866,183,324.20 | Consolidated Financial Statement Major Profit and Loss Items for H1 2025 | Item | Amount for Current Period (Yuan) | Amount for Prior Period (Yuan) | | :--- | :--- | :--- | | Operating Revenue | 432,473,378.92 | 332,652,477.81 | | Operating Costs | 388,524,317.17 | 293,660,026.04 | | Financial Expenses | 2,219,472.84 | -4,595,155.16 | | Net Profit Attributable to Parent Company Owners | 5,380,415.59 | 8,434,050.28 | | Net Cash Flow from Operating Activities | -34,933,694.14 | 51,452,126.15 | - Provides detailed notes on various consolidated financial statement items including monetary funds, notes receivable, accounts receivable, inventory, fixed assets, intangible assets, accounts payable, employee compensation payable, taxes payable, and deferred income[360](index=360&type=chunk)[363](index=363&type=chunk)[369](index=369&type=chunk)[440](index=440&type=chunk)[484](index=484&type=chunk)[501](index=501&type=chunk)[530](index=530&type=chunk)[545](index=545&type=chunk)[551](index=551&type=chunk)[574](index=574&type=chunk) [VIII Research and Development Expenses](index=133&type=section&id=八%E3%80%81研发支出) Total R&D expenditure for H1 2025 was **13,610,646.00 Yuan**, all expensed, covering 24 projects including automotive anti-vibration LCD, TFT integration, FS LCD modules, and e-paper display modules 2025 Semi-Annual R&D Expenditure Projects and Amounts | Project | Amount for Current Period (Yuan) | | :--- | :--- | | A type of automotive anti-vibration VA LCD display technology R&D | 620,345.19 | | R&D of integrated design solution for LCD and TFT screen structures | 566,160.40 | | R&D of a TN type display and STN type display combination display with fast response | 659,074.05 | | R&D of a new type of FS LCD display module for safety exits | 637,788.47 | | R&D of a new type of hybrid display mode LCD display module | 640,700.67 | | R&D of a multi-screen LCD display module driven by serial protocol | 558,190.32 | | R&D of COB module product assembly alignment flip bonding technology | 592,771.35 | | R&D of a vacuum adsorption LCD and backlight alignment technology for COG module products | 612,978.89 | | R&D of a composite reinforced module frame support structure | 726,199.27 | | R&D of a display module product's visual area adaptive support integrated technology | 637,389.30 | | R&D of efficient and precise display module homing technology | 576,521.79 | | Application and implementation of LCM module anti-electromagnetic interference circuit enhancement and stable display technology | 554,719.57 | | R&D of outdoor high-reliability capacitive screen modules | 626,464.96 | | R&D of resistive screen button replacement and capacitive screen integration technology | 695,400.86 | | R&D of touchscreen product technology with compilation traceability | 530,793.08 | | R&D of cover plate and TFT bonding technology | 546,255.80 | | R&D of an EPD product automatic inspection program technology | 558,707.78 | | R&D of an e-paper laser cutting automation technology | 497,355.81 | | R&D of an e-paper master sheet automatic detection and automatic defect marking technology | 439,370.55 | | Research on four-color e-paper optical quality technology | 470,180.81 | | R&D of an e-ink screen battery self-detection display technology | 657,264.90 | | R&D of an e-ink screen display area covering bezel display technology | 497,105.58 | | R&D of a black-and-white product CROSSTALK technology solution | 543,374.68 | | R&D of TFT substrate quick insertion technology method | 165,531.92 | | Total | 13,610,646.00 | - Total R&D expenditure for H1 2025 was **13,610,646.00 Yuan**, all expensed[647](index=647&type=chunk) - No R&D projects meeting capitalization criteria or significant externally acquired in-progress projects during the reporting period[648](index=648&type=chunk)[650](index=650&type=chunk) [IX Changes in Consolidation Scope](index=134&type=section&id=九%E3%80%81合并范围的变更) The company had no transactions or events leading to changes in the consolidation scope during the reporting period - No non-same control business combinations during the reporting period[650](index=650&type=chunk) - No same control business combinations during the reporting period[655](index=655&type=chunk) - No transactions or events resulting in loss of control over subsidiaries during the reporting period[659](index=659&type=chunk) [X Interests in Other Entities](index=137&type=section&id=十%E3%80%81在其他主体中的权益) The company's group includes several subsidiaries; Qixin Optoelectronics Co, Ltd is a significant non-wholly owned subsidiary with a **21.57%** minority interest, incurring a **-1,889,546.18 Yuan** loss attributable to minority shareholders Enterprise Group Composition as of June 30, 2025 | Subsidiary Name | Registered Capital (Yuan) | Business Nature | Shareholding Ratio (Direct) (%) | Shareholding Ratio (Indirect) (%) | Acquisition Method | | :--- | :--- | :--- | :--- | :--- | :--- | | Yeshiled Optoelectronics (Anshan) Co, Ltd | 15,000,000.00 | Manufacturing | 100.00% | | Investment establishment | | Qixin Optoelectronics Co, Ltd | 108,000,000.00 | Manufacturing | 66.85% | 11.58% | Investment establishment | | Qixin Optoelectronics (Vietnam) Co, Ltd | 21,451,600.00 | Manufacturing | | 78.43% | Investment establishment | Financial Information of Significant Non-Wholly Owned Subsidiaries for H1 2025 | Subsidiary Name | Minority Shareholding Ratio (%) | Net Profit/Loss Attributable to Minority Shareholders for Current Period (Yuan) | Minority Interest Balance at Period End (Yuan) | | :--- | :--- | :--- | :--- | | Qixin Optoelectronics Co, Ltd | 21.57% | -1,889,546.18 | 17,303,632.03 | Summary of Financial Information for Significant Associates for H1 2025 | Item | Ending Balance/Amount for Current Period (Yuan) | | :--- | :--- | | Total Carrying Value of Investment | 908,466.17 | | --Net Profit | -142,605.00 | | --Total Comprehensive Income | -142,605.00 | - During January-June 2025, the company provided a loan of **53.2 million Yuan** to Qixin Optoelectronics Co, Ltd, a structured entity within the consolidated financial statements, to supplement its working capital[665](index=665&type=chunk) [XI Government Grants](index=142&type=section&id=十一%E3%80%81政府补助) The company had no government grants recognized at receivable amounts; deferred income related to government grants had an ending balance of **16,684,688.88 Yuan**, with **1,040,504.64 Yuan** transferred to other income - No government grants recognized at receivable amounts at the end of the reporting period[674](index=674&type=chunk) 2025 Semi-Annual Liability Items Related to Government Grants | Accounting Account | Beginning Balance (Yuan) | Amount Transferred to Other Income in Current Period (Yuan) | Ending Balance (Yuan) | Asset/Income Related | | :--- | :--- | :--- | :--- | :--- | | Deferred Income | 17,725,193.52 | 1,040,504.64 | 16,684,688.88 | Asset-related government grants | 2025 Semi-Annual Government Grants Recognized in Current Profit/Loss | Accounting Account | Amount for Current Period (Yuan) | Amount for Prior Period (Yuan) | | :--- | :--- | :--- | | Other Income | 3,808,087.42 | 1,119,960.67 | [XII Risks Related to Financial Instruments](index=142&type=section&id=十二%E3%80%81与金融工具相关的风险) The company faces credit, liquidity, and market risks (primarily foreign exchange risk), managed through credit assessment, export credit insurance, cash monitoring, and hedging strategies - Risks related to financial instruments stem from credit risk, liquidity risk, and market risk (primarily foreign exchange risk)[677](index=677&type=chunk) - Credit risk primarily arises from monetary funds, accounts receivable, and other receivables, managed by credit assessment of customers and export credit insurance to limit exposure[678](index=678&type=chunk) - Liquidity risk is centrally controlled by the finance department through monitoring cash balances and reasonably managing the amount and term of short-term investments[685](index=685&type=chunk) - Market risk is mainly foreign exchange risk, which the company hedges through forward foreign exchange settlement and other financial derivative transactions to mitigate exchange rate fluctuation risks, avoiding purely speculative trading for profit[686](index=686&type=chunk) [XIII Disclosure of Fair Value](index=145&type=section&id=十三%E3%80%81公允价值的披露) Total assets measured at fair value at period-end were **1,653,893.78 Yuan**, entirely comprising receivables financing, classified as Level 3 fair value measurements 2025 Semi-Annual Assets and Liabilities Measured at Fair Value | Item | Ending Fair Value (Yuan) | | :--- | :--- | | Receivables Financing | 1,653,893.78 | | Total Assets Continuously Measured at Fair Value | 1,653,893.78 | - Fair value of notes receivable in receivables financing is determined by their face amount, as the probability of loss is very small and recoverable amounts are largely certain[691](index=691&type=chunk) - No changes in valuation techniques or reasons for change during the reporting period[692](index=692&type=chunk) [XIV Related Parties and Related Party Transactions](index=145&type=section&id=十四%E3%80%81关联方及关联交易) The company's parent is Yeshiled Optoelectronics (Hong Kong) Co, Ltd, with Jia Jitao as the ultimate controlling party; no related party transactions involving sales/purchases, services, entrusted management, leasing, or guarantees occurred - Parent company is Yeshiled Optoelectronics (Hong Kong) Co, Ltd, with registered capital of **10,000 USD**, holding **36.65%** of shares and voting rights[693](index=693&type=chunk) - The ultimate controlling party is Jia Jitao[694](index=694&type=chunk) - No related party transactions involving sales/purchases of goods, provision/acceptance of services, entrusted management/contracting, leasing, or guarantees during the reporting period[697](index=697&type=chunk)[699](index=699&type=chunk)[701](index=701&type=chunk)[703](index=703&type=chunk) 2025 Semi-Annual Key Management Personnel Compensation | Item | Amount for Current Period (Yuan) | Amount for Prior Period (Yuan) | | :--- | :--- | :--- | | Key Management Personnel Compensation | 1,411,946.04 | 1,060,966.00 | 2025 Semi-Annual Related Party Payables | Item Name | Related Party | Ending Book Balance (Yuan) | Beginning Book Balance (Yuan) | | :--- | :--- | :--- | :--- | | Other Payables | Jia Jitao | 62,974.71 | 64,873.74 | | Other Payables | Yeshiled Optoelectronics (Hong Kong) Co, Ltd | 8,038.84 | 8,163.04 | [XV Share-Based Payments](index=149&type=section&id=十五%E3%80%81股份支付) The company had no information regarding overall share-based payments, equity-settled share-based payments, cash-settled share-based payments, or share-based payment expenses for the current period - No overall share-based payment information during the reporting period[713](index=713&type=chunk) - No equity-settled share-based payment information during the reporting period[713](index=713&type=chunk) - No cash-settled share-based payment information during the reporting period[713](index=713&type=chunk) - No share-based payment expenses for the current period[713](index=713&type=chunk) [XVI Commitments and Contingencies](index=149&type=section&id=十六%E3%80%81承诺及或有事项) The company has significant lease commitments, including a factory lease with Anshan Dadaowan Construction Investment Co, Ltd, and an expanded lease for its controlled sub-subsidiary Qixin Optoelectronics (Vietnam) Co, Ltd; no significant contingencies existed as of June 30, 2025 - The company signed a factory lease contract with Anshan Dadaowan Construction Investment Co, Ltd, for the period from January 1, 2025, to December 31, 2025[713](index=713&type=chunk) - Controlled sub-subsidiary Qixin Optoelectronics (Vietnam) Co, Ltd signed a factory lease contract until May 31, 2026, and a supplementary contract in March 2025 to increase leased area by **2,000 square meters** and extend the original **8,000 square meters** lease term to May 31, 2029[714](index=714&type=chunk) - As of June 30, 2025, no significant contingencies requiring disclosure[715](index=715&type=chunk) [XVII Events After the Balance Sheet Date](index=150&type=section&id=十七%E3%80%81资产负债表日后事项) The company had no significant non-adjusting events, profit distribution, sales returns, or other events after the balance sheet date requiring explanation during the reporting period - No significant non-adjusting events during the reporting period[717](index=717&type=chunk) - No profit distribution during the reporting period[719](index=719&type=chunk) - No sales returns during the reporting period[719](index=719&type=chunk) [XVIII Other Significant Matters](index=150&type=section&id=十八%E3%80%81其他重要事项) The company had no prior period accounting error corrections, debt restructurings, asset exchanges, annuity plans, discontinued operations, segment information, or other significant transactions and events affecting investor decisions during the reporting period - No prior period accounting error corrections during the reporting period[719](index=719&type=chunk) - No debt restructurings, asset exchanges, annuity plans, discontinued operations, or segment information during the reporting period[722](index=722&type=chunk)[729](index=729&type=chunk)[724](index=724&type=chunk) - No other significant transactions or events affecting investor decisions during the reporting period[726](index=726&type=chunk) [XIX Notes to Parent Company Financial Statement Major Items](index=151&type=section&id=十九%E3%80%81母公司财务报表主要项目注释) This section details the composition and changes of parent company financial statement items, including accounts receivable of **317 million Yuan**, other receivables of **25.44 million Yuan**, long-term equity investments of **90.11 million Yuan**, operating revenue of **241 million Yuan**, and investment income of **1.44 million Yuan** Parent Company Accounts Receivable Classified by Bad Debt Provision Method as of June 30, 2025 | Category | Book Balance (Yuan) | Proportion (%) | Bad Debt Provision (Yuan) | Provision Rate (%) | Book Value (Yuan) | | :--- | :--- | :--- | :--- | :--- | :--- | | Accounts Receivable for which bad debt provisions are made individually | 19,921,726.17 | 5.86% | 18,758,837.36 | 94.16% | 1,162,888.81 | | Accounts Receivable for which bad debt provisions are made in combination | 320,086,107.06 | 94.14% | 4,088,480.17 | 1.28% | 315,997,626.89 | | Total | 340,007,833.23 | 100.00% | 22,847,317.53 | 6.72% | 317,160,515.70 | Parent Company Other Receivables Classified by Nature of Payment as of June 30, 2025 | Nature of Payment | Ending Book Balance (Yuan) | Beginning Book Balance (Yuan) | | :--- | :--- | :--- | | Intercompany receivables within consolidation scope | 24,232,907.95 | 2,436,809.54 | | Deposits | 797,487.85 | 1,211,534.33 | | Petty cash | 403,616.95 | 6,179.71 | | Employee advances | 33,674.59 | 38,388.92 | | Total | 25,467,687.34 | 3,692,912.50 | Parent Company Long-Term Equity Investments as of June 30, 2025 | Item | Ending Book Value (Yuan) | Beginning Book Value (Yuan) | | :--- | :--- | :--- | | Investments in subsidiaries | 89,200,000.00 | 89,200,000.00 | | Investments in associates and joint ventures | 908,466.17 | 1,051,071.17 | | Total | 90,108,466.17 | 90,251,071.17 | Parent Company Operating Revenue and Operating Costs for H1 2025 | Item | Amount for Current Period (Revenue) (Yuan) | Amount for Current Period (Costs) (Yuan) | Amount for Prior Period (Revenue) (Yuan) | Amount for Prior Period (Costs) (Yuan) | | :--- | :--- | :--- | :--- | :--- | | Main Business | 236,347,372.21 | 198,239,105.87 | 247,394,093.73 | 214,842,752.25 | | Other Business | 4,687,496.30 | 2,347,033.07 | | | | Total | 241,034,868.51 | 200,586,138.94 | 247,394,093.73 | 214,842,752.25 | [Section XX Supplementary Information](index=162&type=section&id=二十%E3%80%81补充资料) This section provides supplementary financial details, including non-recurring gains and losses, net asset returns, and earnings per share [1. Details of Non-Recurring Gains and Losses for the Current Period](index=162&type=section&id=1%E3%80%81当期非经常性损益明细表) Total non-recurring gains and losses for H1 2025 were **4,752,705.60 Yuan**, mainly from government subsidies, entrusted investment income, and non-current asset disposal gains, after tax and minority interest 2025 Semi-Annual Details of Non-Recurring Gains and Losses | Item | Amount (Yuan) | | :--- | :--- | | Non-current asset disposal gains/losses | 8,494.85 | | Government subsidies included in current profit/loss | 3,800,004.64 | | Fair value changes and disposal gains/losses from financial assets/liabilities held by non-financial enterprises | -177,633.00 | | Gains/losses from entrusted investment or asset management | 2,172,569.42 | | Other non-operating income and expenses | -67,210.34 | | Less: Income tax impact | 618,483.31 | | Minority interest impact (after tax) | 365,036.66 | | Total | 4,752,705.60 | - No other items meeting the definition of non-recurring gains/losses, nor reclassification of non-recurring items as recurring[163](index=163&type=chunk) [2. Return on Net Assets and Earnings Per Share](index=163&type=section&id=2%E3%80%81净资产收益率及每股收益) The weighted average return on net assets attributable to common shareholders was **0.62%**, with basic and diluted EPS at **0.0331 Yuan/share**; after deducting non-recurring items, these figures were **0.07%** and **0.0039 Yuan/share**, respectively 2025 Semi-Annual Return on Net Assets and Earnings Per Share | Profit for the Reporting Period | Weighted Average Return on Net Assets (%) | Basic Earnings Per Share (Yuan/share) | Diluted Earnings Per Share (Yuan/share) | | :--- | :--- | :--- | :--- | | Net Profit Attributable to Common Shareholders of the Company | 0.62% | 0.0331 | 0.0331 | | Net Profit Attributable to Common Shareholders of the Company After Deducting Non-Recurring Gains and Losses | 0.07% | 0.0039 | 0.0039 | [3. Differences in Accounting Data under Domestic and International Accounting Standards](index=163&type=section&id=3%E3%80%81境内外会计准则下会计数据差异) The company reported no differences in net profit and net assets between financial reports prepared under international or overseas accounting standards and Chinese accounting standards - No differences in net profit and net assets between financial reports disclosed under international accounting standards and Chinese accounting standards[163](index=163&type=chunk) - No differences in net profit and net assets between financial reports disclosed under overseas accounting standards and Chinese accounting standards[163](index=163&type=chunk) [4. Other](index=163&type=section&id=4%E3%80%81其他) The company had no other supplementary information during the reporting period - No other supplementary information during the reporting period[798](index=798&type=chunk) [Section IX Other Submitted Data](index=164&type=section&id=第九节%20其他报送数据) This section covers other submitted data, including social security issues, investor relations activities, and fund transactions with related parties [I Other Significant Social Security Issues](index=164&type=section&id=一%E3%80%81其他重大社会安全问题情况) The company and its subsidiaries had no other significant social security issues or administrative penalties during the reporting period - Neither the listed company nor its subsidiaries had other significant social security issues[800](index=800&type=chunk) - No administrative penalties during the reporting period[800](index=800&type=chunk) [II Registration Form for Research, Communication, Interview, and Other Activities During the Reporting Period](index=164&type=section&id=二%E3%80%81报告期内接待调研%E3%80%81沟通%E3%80%81采访等活动登记表) The company had no registration records for research, communication, interview, or other activities during the reporting period - No registration records for research, communication, interview, or other activities during the reporting period[800](index=800&type=chunk) [III Fund Transactions Between the Listed Company and Controlling Shareholders and Other Related Parties](index=164&type=section&id=三%E3%80%81上市公司与控股股东及其他关联方资金往来情况) The company had no fund transactions with controlling shareholders or other related parties during the reporting period - No fund transactions between the listed company and controlling shareholders or other related parties during the reporting period[800](index=800&type=chunk)

Group 1 - The company, Asia Optical, stated that its products are widely used in various fields including industrial control instruments, medical devices, white goods, automotive displays, liquid crystal light valves, smart retail, smart public transport, and smart office applications [1] - The company emphasized that its operational performance and data should be referenced from official company announcements [1]