Market Overview - As of 10:29 AM today, the Shanghai Composite Index stands at 3864.71 points, above the annual line, with a change of 0.18% [1] - The total trading volume of A-shares today is 138.21 billion yuan [1] Stocks Breaking Annual Line - A total of 41 A-shares have surpassed the annual line today, with notable stocks showing significant deviation rates [1] - The stocks with the highest deviation rates include: - Energy Iron Han (节能铁汉) with a deviation rate of 14.24% and a daily increase of 14.69% [1] - Qidi Environment (启迪环境) with a deviation rate of 7.10% and a daily increase of 10.26% [1] - ST Quanwei (ST泉为) with a deviation rate of 6.60% and a daily increase of 9.06% [1] Detailed Stock Performance - The following table summarizes the performance of selected stocks that have recently broken the annual line: | Stock Code | Stock Name | Daily Change (%) | Turnover Rate (%) | Annual Line (yuan) | Latest Price (yuan) | Deviation Rate (%) | | --- | --- | --- | --- | --- | --- | --- | | 300197 | 节能铁汉 | 14.69 | 5.66 | 2.12 | 2.42 | 14.24 | | 000826 | 启迪环境 | 10.26 | 8.19 | 2.01 | 2.15 | 7.10 | | 300716 | ST泉为 | 9.06 | 3.95 | 10.05 | 10.71 | 6.60 | | 001215 | 千味央厨 | 3.57 | 2.39 | 29.19 | 30.19 | 3.43 | | 601882 | 海天精工 | 5.10 | 1.67 | 20.52 | 21.02 | 2.45 | | 601298 | 青岛港 | 2.59 | 0.45 | 8.54 | 8.72 | 2.09 | | 002771 | 真视通 | 3.22 | 3.18 | 17.64 | 17.97 | 1.85 | | 600653 | 申华控股 | 2.56 | 1.44 | 1.97 | 2.00 | 1.76 | | 300141 | 和顺电气 | 1.77 | 1.04 | 9.07 | 9.22 | 1.63 | | 002390 | 信邦制药 | 2.75 | 1.17 | 3.68 | 3.73 | 1.46 | | 600189 | 泉阳泉 | 1.49 | 1.23 | 7.38 | 7.48 | 1.41 | | 601328 | 交通银行 | 1.51 | 0.53 | 7.28 | 7.38 | 1.40 | | 600518 | 康美药业 | 4.41 | 2.72 | 2.10 | 2.13 | 1.25 | | 300318 | 博晖创新 | 1.18 | 0.45 | 5.92 | 5.98 | 1.08 | | 300144 | 宋城演艺 | 1.49 | 1.35 | 8.82 | 8.88 | 0.72 | | 600916 | 中国黄金 | 1.83 | 2.15 | 8.27 | 8.33 | 0.71 | | 300067 | 安诺其 | 1.48 | 1.87 | 5.44 | 5.47 | 0.61 | | 600272 | 开开实业 | 1.36 | 1.09 | 13.39 | 13.45 | 0.48 | | 603310 | 巍华新材 | 0.61 | 0.69 | 17.96 | 18.05 | 0.47 | | 603718 | 海利生物 | 0.70 | 0.66 | 7.17 | 7.20 | 0.41 | | 603768 | 常青股份 | 0.95 | 0.80 | 12.72 | 12.76 | 0.35 | | 600062 | 华润双鹤 | 1.08 | 0.71 | 19.60 | 19.66 | 0.30 | | 300784 | 利安科技 | 2.40 | 3.84 | 56.62 | 56.78 | 0.29 | | 600236 | 桂冠电力 | 0.32 | 0.05 | 6.32 | 6.34 | 0.28 | | 300076 | GQY视讯 | 1.71 | 1.47 | 6.54 | 6.56 | 0.25 | | 601898 | 中煤能源 | 0.97 | 0.11 | 11.42 | 11.45 | 0.24 | [1]

证券代码：300076 证券简称：GQY视讯 公告编号：2025-45 宁波GQY视讯股份有限公司 关于2025年半年度计提资产减值准备的公告 本公司及董事会全体成员保证信息披露的内容真实、准确和完整，没有虚 假记载、误导性陈述或重大遗漏。 一、本次计提资产减值准备的情况概述 宁波 GQY 视讯股份有限公司（以下简称"公司"或"GQY 视讯"）依照《企 业会计准则》《深圳证券交易所创业板股票上市规则》《深圳证券交易所上市公 司自律监管指引第 2 号——创业板上市公司规范运作》等相关规定，本着谨慎性 原则，对截至 2025 年 6 月 30 日各类资产进行了全面清查，并对各类资产进行了 充分的评估和分析。公司 2025 年半年度计提各项资产减值准备情况如下： 根据《企业会计准则》和公司相关会计政策，公司对应收款项预期信用损失 进行评估。公司依据信用风险特征将应收款项划分为若干组合，在组合基础上计 算预期信用损失。对于划分为组合的应收款项，公司参考历史信用损失经验，结 合当前状况以及对未来经济状况的预测，根据应收款项账期或账龄与整个存续期 预期信用损失率，计算预期信用损失，2025 年半年度公司计提信用减值准备 ...

证券代码：300076 证券简称：GQY视讯 公告编号：2025-44 （二）2025 年半年度募集资金使用情况及结余情况 宁波GQY视讯股份有限公司 2025年半年度募集资金存放与使用情况的专项报告 本公司及董事会全体成员保证信息披露的内容真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 根据《深圳证券交易所上市公司自律监管指引第 2 号——创业板上市公司规 范运作》及相关格式指引的规定，宁波 GQY 视讯股份有限公司（以下简称"本 公司"或"公司"）将 2025 年半年度募集资金存放与实际使用情况专项说明如 下： 一、募集资金基本情况 （一）实际募集资金金额、资金到位情况、以前年度使用情况 经中国证券监督管理委员会以证监许可[2010]431 号《关于核准宁波 GQY 视讯 股份有限公司首次公开发行股票并在创业板上市的批复》核准，并经深圳证券交 易所同意，公司由主承销商平安证券有限责任公司采用网下向配售对象询价配售 与网上向社会公众投资者定价发行相结合的方式，向社会公开发行人民币普通股 （A 股）股票 1,364 万股，发行价格为 65 元/股。共募集资金总额 886,600,000.00 元，扣 ...

2025年半年度财务报告 一、2025年半年度主要财务数据 宁波GQY视讯股份有限公司（以下简称"本公司"或"公司"）2025年半年度 财务报表未经审计，现将公司有关的财务情况汇报如下： 单位：人民币元 | 项目 | 本报告期 | 上年同期 | 本报告期比上年 | | --- | --- | --- | --- | | | | | 同期增减 | | 营业收入 | 40,746,808.29 | 77,454,471.15 | -47.39% | | 归属于上市公司股东的净利润 | -22,726,398.01 | -14,859,321.66 | -52.94% | | 归属于上市公司股东的扣除非 经常性损益的净利润 | -25,903,164.43 | -20,023,804.27 | -29.36% | | 经营活动产生的现金流量净额 | -41,939,107.10 | -56,535,902.50 | 25.82% | | 基本每股收益（元/股） | -0.0536 | -0.0350 | -53.14% | | 稀释每股收益（元/股） | -0.0536 | -0.0350 | -53.14% | ...

宁波 GQY 视讯股份有限公司 法定代表人：荆毅民 主管会计工作负责人：夏治锋 会计机构负责人（会计主管人员）：张正镇 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 小计 - - - - - - - - - - 前控股股东、实际控 制人及其附属企业 小计 - - - - - - - - - - 其他关联方及附属 企业 小计 总计 - - - - - - - - - - 其它关联资金往来 资金往来方 名称 往来方与上 市公司的关 联关系 上市公司核算 的会计科目 2025 年期 初往来资 金余额 2025 年半年度 往来累计发生金 额（不含利息） 2025 年半年 度往来资金的 利息（如有） 2025 年半年 度偿还累计 发生金额 2025 年半年 度期末往来 资金余额 往来形 成原 ...

宁波 GQY 视讯股份有限公司 第七届监事会第十五次会议决议公告 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。 宁波GQY视讯股份有限公司（以下简称"公司"或"GQY视讯"）第七届监 事会第十五次会议通知于2025年8月15日以电话及邮件方式通知全体监事，并于 2025年8月27日以现场及通讯方式召开。本次会议由监事会主席焦燕君女士主持， 应参加监事3名，实际参与表决监事3名。本次会议的召集、召开符合《公司法》、 《公司章程》和《监事会议事规则》的有关规定，会议召开合法、有效。 二、监事会会议审议情况 经与会监事审议，本次会议以记名投票的表决方式表决通过了以下决议： 证券代码：300076 证券简称：GQY 视讯 公告编号：2025-43 一、监事会会议召开情况 具体内容详见公司在中国证监会指定的信息披露网站披露的《2025 年半年 1、审议通过《关于公司<2025 年半年度报告全文>及摘要的议案》 监事会认为：公司董事会编制和审核《2025 年半年度报告全文》及摘要的 程序符合法律、行政法规和中国证监会的规定，报告内容真实、准确、完整地反 映了上市公司的实 ...

一、董事会会议召开情况 宁波GQY视讯股份有限公司（以下简称"公司"或"GQY视讯"）第七届董 事会第二十次会议通知于2025年8月15日以电话及邮件方式通知全体董事，并于 2025年8月27日以现场及通讯方式召开。本次会议由董事长荆毅民先生主持，应 参加董事9名，实际参与表决董事9名。本次会议的召集、召开符合《公司法》、 《公司章程》和《董事会议事规则》的有关规定，会议合法有效。 证券代码：300076 证券简称：GQY视讯 公告编号：2025-42 宁波GQY视讯股份有限公司 第七届董事会第二十次会议决议公告 本公司及董事会全体成员保证信息披露的内容真实、准确和完整，没有虚 假记载、误导性陈述或重大遗漏。 二、董事会会议审议情况 经与会董事审议，本次会议以记名投票的表决方式逐项表决通过了以下决议： 1、审议通过《关于公司<2025 年半年度报告全文>及摘要的议案》 1、公司第七届董事会第二十会议决议； 2、公司《2025 年半年度报告全文》及摘要； 表决结果：同意 9 票、反对 0 票、弃权 0 票。 2、审议通过《2025 年半年度募集资金存放与使用情况的专项报告》 2025年上半年，公司严格按照《上市 ...

[Section I Important Notice, Table of Contents, and Definitions](index=2&type=section&id=%E7%AC%AC%E4%B8%80%E8%8A%82%20%E9%87%8D%E8%A6%81%E6%8F%90%E7%A4%BA%E3%80%81%E7%9B%AE%E5%BD%95%E5%92%8C%E9%87%8A%E4%B9%89) [Important Notice](index=2&type=section&id=%E9%87%8D%E8%A6%81%E6%8F%90%E7%A4%BA) The board, supervisory board, and senior management guarantee the report's accuracy, with all directors attending the review, and no cash dividends or bonus shares planned - The company's board of directors, supervisory board, and senior management guarantee the truthfulness, accuracy, and completeness of the semi-annual report, free from false records, misleading statements, or major omissions, and assume individual and joint legal responsibility[6](index=6&type=chunk) - Company head Jing Yimin, chief accountant Xia Zhifeng, and head of accounting department Zhang Zhengzhen declare the financial report in this semi-annual report is true, accurate, and complete[6](index=6&type=chunk) - The company plans not to distribute cash dividends, bonus shares, or convert capital reserves into share capital[7](index=7&type=chunk) [Table of Contents](index=3&type=section&id=%E7%9B%AE%E5%BD%95) This section lists the report's structure, comprising eight main chapters covering comprehensive information on company operations, finance, governance, and significant matters - The report's table of contents includes eight main chapters, covering comprehensive information on company operations, finance, governance, and significant matters[9](index=9&type=chunk) [Reference Documents](index=4&type=section&id=%E5%A4%87%E6%9F%A5%E6%96%87%E4%BB%B6%E7%9B%AE%E5%BD%95) Reference documents include signed and sealed financial statements, original copies of all company documents publicly disclosed on the CSRC-designated website during the reporting period, and the original 2025 semi-annual report signed by the company's legal representative - Reference documents include signed and sealed financial statements, original copies of publicly disclosed documents, and the original semi-annual report signed by the legal representative[11](index=11&type=chunk) [Definitions](index=5&type=section&id=%E9%87%8A%E4%B9%89) This section defines common terms used in the report, including company names, related entities, subsidiaries, laws, regulations, and technical acronyms (e.g., LED, LCD), ensuring clear understanding of the content - This section defines key terms used in the report, including the company, regulatory bodies, subsidiaries, laws, regulations, and technical acronyms such as GQY Video, SZSE, LED, and LCD[12](index=12&type=chunk) [Section II Company Profile and Key Financial Indicators](index=6&type=section&id=%E7%AC%AC%E4%BA%8C%E8%8A%82%20%E5%85%AC%E5%8F%B8%E7%AE%80%E4%BB%8B%E5%92%8C%E4%B8%BB%E8%A6%81%E8%B4%A2%E5%8A%A1%E6%8C%87%E6%A0%87) [I. Company Profile](index=6&type=section&id=%E4%B8%80%E3%80%81%E5%85%AC%E5%8F%B8%E7%AE%80%E4%BB%8B) The company's stock abbreviation is GQY Video, stock code 300076, listed on the Shenzhen Stock Exchange, with Jing Yimin as its legal representative; contact information and registration details remained unchanged from the 2024 annual report Company Basic Information | Metric | Content | | :--- | :--- | | Stock Abbreviation | GQY Video | | Stock Code | 300076 | | Listing Exchange | Shenzhen Stock Exchange | | Legal Representative | Jing Yimin | - The company's contact information, information disclosure, and registration changes remained unchanged during the reporting period, with specific details available in the 2024 annual report[16](index=16&type=chunk)[17](index=17&type=chunk)[18](index=18&type=chunk) [IV. Key Accounting Data and Financial Indicators](index=7&type=section&id=%E5%9B%9B%E3%80%81%E4%B8%BB%E8%A6%81%E4%BC%9A%E8%AE%A1%E6%95%B0%E6%8D%AE%E5%92%8C%E8%B4%A2%E5%8A%A1%E6%8C%87%E6%A0%87) In the first half of 2025, the company's operating revenue decreased by **47.39%** to **CNY 40.75 million**, and net profit attributable to shareholders expanded to a loss of **CNY -22.73 million**, a **52.94%** year-over-year decrease; operating cash flow improved, but total assets and net assets attributable to shareholders both decreased Key Accounting Data and Financial Indicators for H1 2025 | Metric | Current Reporting Period (CNY) | Prior Year Period (CNY) | Year-over-Year Change | | :--- | :--- | :--- | :--- | | Operating Revenue | 40,746,808.29 | 77,454,471.15 | -47.39% | | Net Profit Attributable to Parent Company Shareholders | -22,726,398.01 | -14,859,321.66 | -52.94% | | Net Profit Attributable to Parent Company Shareholders After Deducting Non-recurring Gains and Losses | -25,903,164.43 | -20,023,804.27 | -29.36% | | Net Cash Flow from Operating Activities | -41,939,107.10 | -56,535,902.50 | 25.82% | | Basic Earnings Per Share (CNY/share) | -0.0536 | -0.0350 | -53.14% | | Diluted Earnings Per Share (CNY/share) | -0.0536 | -0.0350 | -53.14% | | Weighted Average Return on Net Assets | -2.47% | -1.52% | -0.95% | | Metric | End of Current Reporting Period (CNY) | End of Prior Year (CNY) | Change from End of Prior Year | | :--- | :--- | :--- | :--- | | Total Assets | 1,004,305,419.80 | 1,047,443,675.00 | -4.12% | | Net Assets Attributable to Parent Company Shareholders | 908,228,928.49 | 930,955,326.50 | -2.44% | [V. Differences in Accounting Data Under Domestic and Overseas Accounting Standards](index=7&type=section&id=%E4%BA%94%E3%80%81%E5%A2%83%E5%86%85%E5%A4%96%E4%BC%9A%E8%AE%A1%E5%87%86%E5%88%99%E4%B8%8B%E4%BC%9A%E8%AE%A1%E6%95%B0%E6%8D%AE%E5%B7%AE%E5%BC%82) During the reporting period, the company had no differences in net profit and net assets between financial reports disclosed under International Accounting Standards or overseas accounting standards and those under Chinese Accounting Standards - The company had no differences in net profit and net assets between financial reports disclosed under International Accounting Standards and Chinese Accounting Standards during the reporting period[20](index=20&type=chunk) - The company had no differences in net profit and net assets between financial reports disclosed under overseas accounting standards and Chinese Accounting Standards during the reporting period[21](index=21&type=chunk) [VI. Non-recurring Gains and Losses and Amounts](index=7&type=section&id=%E5%85%AD%E3%80%81%E9%9D%9E%E7%BB%8F%E5%B8%B8%E6%80%A7%E6%8D%9F%E7%9B%8A%E9%A1%B9%E7%9B%AE%E5%8F%8A%E9%87%91%E9%A2%9D) During the reporting period, the company's total non-recurring gains and losses amounted to **CNY 3.18 million**, primarily from government grants and investment income from bank wealth management products, after deducting income tax and minority interests impacts Non-recurring Gains and Losses and Amounts | Item | Amount (CNY) | Notes | | :--- | :--- | :--- | | Government Grants Recognized in Current Profit/Loss | 113,715.32 | Primarily high-tech enterprise certification reward income received from the government | | Gains and Losses from Fair Value Changes of Financial Assets and Liabilities Held by Non-financial Enterprises and from Disposal of Financial Assets and Liabilities | 3,450,407.03 | Primarily investment income from bank wealth management products | | Other Non-operating Income and Expenses Apart from the Above Items | 174,097.61 | | | Less: Income Tax Impact | 561,278.02 | | | Minority Interests Impact (After Tax) | 175.52 | | | Total | 3,176,766.42 | | [Section III Management Discussion and Analysis](index=9&type=section&id=%E7%AC%AC%E4%B8%89%E8%8A%82%20%E7%AE%A1%E7%90%86%E5%B1%82%E8%AE%A8%E8%AE%BA%E4%B8%8E%E5%88%86%E6%9E%90) [I. Main Business Activities of the Company During the Reporting Period](index=9&type=section&id=%E4%B8%80%E3%80%81%E6%8A%A5%E5%91%8A%E6%9C%9F%E5%86%85%E5%85%AC%E5%8F%B8%E4%BB%8E%E4%BA%8B%E7%9A%84%E4%B8%BB%E8%A6%81%E4%B8%9A%E5%8A%A1) The company specializes in intelligent splicing display products, offering comprehensive audio-visual and high-resolution visualization information technology solutions, including Mini LED/Micro LED, DLP, and LCD splicing products, operating primarily on an order-driven, "production-to-order" model with sales through channel agents and direct sales; operating revenue decreased by **47.39%** due to slower project progress - The company's main business involves the R&D, production, and sales of intelligent splicing display products, covering a full range of Mini LED/Micro LED splicing, DLP splicing, and LCD splicing products[26](index=26&type=chunk)[34](index=34&type=chunk) - The company's operating model is order-driven and "production-to-order," with sales conducted through channel agents and direct sales[35](index=35&type=chunk)[36](index=36&type=chunk) - During the reporting period, the company achieved operating revenue of **CNY 40.75 million**, a year-over-year decrease of **47.39%**, primarily due to slower-than-expected progress in engineering projects[39](index=39&type=chunk) [(I) Industry Overview](index=9&type=section&id=%EF%BC%88%E4%B8%80%EF%BC%89%E5%85%AC%E5%8F%B8%E6%89%80%E5%A4%84%E8%A1%8C%E4%B8%9A%E6%83%85%E5%86%B5) The intelligent splicing display industry, supported by national policies, continues to grow with expanding technological innovation and scale, evolving towards diversification, high performance, low power consumption, and flexibility, broadening application scenarios across various sectors - The intelligent splicing display industry is a strategic development area in China's "14th Five-Year Plan," with continuous expansion in technological innovation capabilities and industrial scale[27](index=27&type=chunk) - The state has introduced multiple policies to support the development of the new display industry, encouraging technological innovation, industrial upgrading, and market expansion, such as the "Notice on Import Tax Policies Supporting the Development of New Display Industry from 2021-2030" and the "Outline of the Strategic Plan for Expanding Domestic Demand (2022-2035)"[28](index=28&type=chunk)[29](index=29&type=chunk)[30](index=30&type=chunk) - Industry technology is diversifying towards Mini-LED, Micro-LED, quantum dots, and flexible displays, with terminal application scenarios expanding into emerging fields like in-car displays, smart homes, and digital cultural tourism[30](index=30&type=chunk)[31](index=31&type=chunk) [(II) Company's Main Business and Operating Model](index=12&type=section&id=%EF%BC%88%E4%BA%8C%EF%BC%89%E5%85%AC%E5%8F%B8%E4%B8%BB%E8%A6%81%E4%B8%9A%E5%8A%A1%E5%8F%8A%E7%BB%8F%E8%90%A5%E6%A8%A1%E5%BC%8F) The company provides intelligent splicing display products and integrated system solutions, covering Mini LED/Micro LED, DLP, and LCD splicing, operating on an order-driven and "production-to-order" model with strict supply chain management and sales through channel agents or direct sales to ensure high quality, low cost, and rapid delivery - The company's main business involves the R&D, production, and sales of intelligent splicing products, and provides integrated solutions in the digital, information, and intelligent fields[34](index=34&type=chunk) - The company adopts an "order-driven" and "production-to-order" operating policy, managing material procurement through its supply chain center to ensure timely and stable raw material supply[35](index=35&type=chunk) - Sales models include channel agency distribution and direct sales, with sales processes covering project initiation, bidding, contract signing, stock preparation, production, and shipment[36](index=36&type=chunk)[37](index=37&type=chunk) [(III) Key Performance Drivers](index=14&type=section&id=%EF%BC%88%E4%B8%89%EF%BC%89%E4%B8%BB%E8%A6%81%E4%B8%9A%E7%BB%A9%E9%A9%B1%E5%8A%A8%E5%9B%A0%E7%B4%A0) In the first half of 2025, the company capitalized on the digital economy's recovery-driven demand for high-definition displays by linking R&D and production to deliver high-quality customized products, while also enhancing internal controls, digitalization, and operational efficiency, and actively fulfilling corporate social responsibility - The company actively seized opportunities arising from the recovery of digital economy demand for high-definition display applications, providing high-quality, customized products through R&D and production linkage[39](index=39&type=chunk) - The company continuously improved its internal control system, enhanced its informatization and digitalization levels, optimized internal approval processes, and improved operational efficiency while reducing operating costs[39](index=39&type=chunk) [II. Analysis of Core Competitiveness](index=14&type=section&id=%E4%BA%8C%E3%80%81%E6%A0%B8%E5%BF%83%E7%AB%9E%E4%BA%89%E5%8A%9B%E5%88%86%E6%9E%90) The company's core competitiveness stems from its comprehensive product range, deep industry roots, professional talent pool, reliable product quality, and robust customer service system, built over thirty years in intelligent splicing display, enabling it to offer high-value-added products and integrated solutions - The company offers a comprehensive range of products, covering intelligent splicing display and system integration businesses, meeting diverse customer needs[40](index=40&type=chunk) - With over thirty years in the industry, the company has accumulated extensive high-quality customer resources, establishing long-term stable cooperative relationships with clients in emergency management, smart education, public security, and military sectors[41](index=41&type=chunk) - The company has assembled a large number of experienced management and professional technical talents, building a high-caliber core talent team through systematic training and incentive programs[42](index=42&type=chunk)[43](index=43&type=chunk) - The company has established a comprehensive customer service system and quality control measures, certified with a five-star after-sales service rating for screen display systems, ensuring product quality, safety, and stability[44](index=44&type=chunk) [III. Main Business Analysis](index=15&type=section&id=%E4%B8%89%E3%80%81%E4%B8%BB%E8%90%A5%E4%B8%9A%E5%8A%A1%E5%88%86%E6%9E%90) During this reporting period, the company's main business revenue was **CNY 40.75 million**, a **47.39%** year-over-year decrease, primarily due to slower-than-expected engineering project progress; large-screen splicing display systems and system integration were the main revenue sources, with gross profit margins of **9.41%** and **2.32%**, respectively, while direct sales revenue significantly declined and distribution sales revenue grew substantially - The operating revenue for this reporting period was **CNY 40.75 million**, a year-over-year decrease of **47.39%**, primarily due to slower-than-expected progress in engineering projects[46](index=46&type=chunk) Main Product or Service Overview | Product or Service | Operating Revenue (CNY) | Operating Costs (CNY) | Gross Profit Margin | Year-over-Year Change in Operating Revenue | | :--- | :--- | :--- | :--- | :--- | | Large-screen Splicing Display Systems | 29,205,923.12 | 26,456,419.10 | 9.41% | -38.23% | | System Integration Business | 11,324,137.97 | 11,061,323.67 | 2.32% | -61.75% | Sales Performance by Sales Model Category | Sales Model Category | Amount in Current Reporting Period (CNY) | Proportion of Operating Revenue | Amount in Prior Year Period (CNY) | Proportion of Operating Revenue | Year-over-Year Change | | :--- | :--- | :--- | :--- | :--- | :--- | | Direct Sales | 23,193,277.29 | 56.92% | 71,564,974.97 | 92.40% | -67.59% | | Distribution | 17,553,531.00 | 43.08% | 5,889,496.18 | 7.60% | 198.05% | [Year-over-Year Changes in Key Financial Data](index=15&type=section&id=%E4%B8%BB%E8%A6%81%E8%B4%A2%E5%8A%A1%E6%95%B0%E6%8D%AE%E5%90%8C%E6%AF%94%E5%8F%98%E5%8A%A8%E6%83%85%E5%86%B5) During the reporting period, both operating revenue and operating costs significantly decreased, financial expenses substantially reduced due to the reversal of unrealized financing income, net cash flow from investing activities turned negative primarily due to wealth management product purchases, and net cash flow from financing activities also significantly decreased due to short-term loan repayments Year-over-Year Changes in Key Financial Data | Metric | Current Reporting Period (CNY) | Prior Year Period (CNY) | Year-over-Year Change | Reason for Change | | :--- | :--- | :--- | :--- | :--- | | Operating Revenue | 40,746,808.29 | 77,454,471.15 | -47.39% | Slower-than-expected progress in engineering projects | | Operating Costs | 37,587,069.65 | 70,126,754.75 | -46.40% | Decrease in revenue | | Financial Expenses | -2,105,762.61 | 485,354.41 | -533.86% | Reversal of unrealized financing income | | Net Cash Flow from Investing Activities | -51,295,642.73 | 129,101,519.85 | -139.73% | Purchase of wealth management products | | Net Cash Flow from Financing Activities | -13,647,900.40 | 559,046.78 | -2,541.28% | Repayment of short-term loans | | Net Increase in Cash and Cash Equivalents | -106,882,650.23 | 73,124,664.13 | -246.16% | Decrease in net cash flow from operating and investing activities | [Products or Services Accounting for Over 10% of Revenue](index=16&type=section&id=%E5%8D%A0%E6%AF%9410%25%E4%BB%A5%E4%B8%8A%E7%9A%84%E4%BA%A7%E5%93%81%E6%88%96%E6%9C%8D%E5%8A%A1%E6%83%85%E5%86%B5) Large-screen splicing display systems and system integration businesses are the company's primary revenue sources, accounting for **71.68%** and **27.80%** of operating revenue, respectively; large-screen splicing display system revenue decreased by **38.23%** year-over-year with a **3.93%** decline in gross profit margin, while system integration business revenue decreased by **61.75%** with a **0.35%** decline in gross profit margin Products or Services Accounting for Over 10% of Revenue | Product or Service | Operating Revenue (CNY) | Operating Costs (CNY) | Gross Profit Margin | Year-over-Year Change in Operating Revenue | Year-over-Year Change in Gross Profit Margin | | :--- | :--- | :--- | :--- | :--- | :--- | | Large-screen Splicing Display Systems | 29,205,923.12 | 26,456,419.10 | 9.41% | -38.23% | -3.93% | | System Integration Business | 11,324,137.97 | 11,061,323.67 | 2.32% | -61.75% | -0.35% | Sales Performance of Large-screen Splicing Display Systems | Item | Unit | Current Reporting Period | Prior Year Period | Year-over-Year Change | | :--- | :--- | :--- | :--- | :--- | | Sales Volume | Units | 2,404 | 2,558 | -6.02% | | Sales Revenue | CNY | 29,205,923.12 | 47,283,857.70 | -38.23% | | Gross Profit Margin on Sales | % | 9.41 | 13.34 | -3.93% | [IV. Non-Main Business Analysis](index=17&type=section&id=%E5%9B%9B%E3%80%81%E9%9D%9E%E4%B8%BB%E8%90%A5%E4%B8%9A%E5%8A%A1%E5%88%86%E6%9E%90) The company had no non-main business activities during the reporting period - The company had no non-main business activities during the reporting period[51](index=51&type=chunk) [V. Analysis of Assets and Liabilities](index=17&type=section&id=%E4%BA%94%E3%80%81%E8%B5%84%E4%BA%A7%E5%8F%8A%E8%B4%9F%E5%80%BA%E7%8A%B6%E5%86%B5%E5%88%86%E6%9E%90) At the end of the reporting period, the company's total assets and net assets attributable to shareholders both decreased; cash and bank balances decreased by **9.71%** due to the purchase of bank wealth management products, leading to a **6.81%** increase in trading financial assets; short-term borrowings decreased by **1.63%** due to repayment, and some cash and bank balances and fixed assets were restricted Significant Changes in Asset Composition | Item | Amount at End of Current Reporting Period (CNY) | Proportion of Total Assets | Amount at End of Prior Year (CNY) | Proportion of Total Assets | Change in Proportion | Explanation of Significant Change | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Cash and Bank Balances | 69,480,572.85 | 6.92% | 174,235,726.40 | 16.63% | -9.71% | Primarily due to the purchase of bank wealth management products | | Trading Financial Assets | 408,824,629.87 | 40.71% | 355,058,024.31 | 33.90% | 6.81% | Primarily due to the purchase of bank wealth management products | | Short-term Borrowings | 0.00 | 0.00% | 17,107,320.75 | 1.63% | -1.63% | Primarily due to the repayment of short-term borrowings | - As of June 30, 2025, other cash and bank balances of **CNY 7.14 million** were restricted as guarantees for bank acceptance bills, quality guarantees, and domestic guarantees; fixed assets with a book value of **CNY 50.11 million** were pledged for borrowings[56](index=56&type=chunk) [Significant Changes in Asset Composition](index=17&type=section&id=%E8%B5%84%E4%BA%A7%E6%9E%84%E6%88%90%E9%87%8D%E5%A4%A7%E5%8F%98%E5%8A%A8%E6%83%85%E5%86%B5) At the end of the reporting period, the company's cash and bank balances decreased by **9.71%** primarily due to the purchase of bank wealth management products, leading to a **6.81%** increase in the proportion of trading financial assets, while short-term borrowings decreased by **1.63%** due to repayment Significant Changes in Asset Composition | Item | Amount at End of Current Reporting Period (CNY) | Proportion of Total Assets | Amount at End of Prior Year (CNY) | Proportion of Total Assets | Change in Proportion | Explanation of Significant Change | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Cash and Bank Balances | 69,480,572.85 | 6.92% | 174,235,726.40 | 16.63% | -9.71% | Primarily due to the purchase of bank wealth management products | | Trading Financial Assets | 408,824,629.87 | 40.71% | 355,058,024.31 | 33.90% | 6.81% | Primarily due to the purchase of bank wealth management products | | Short-term Borrowings | 0.00 | 0.00% | 17,107,320.75 | 1.63% | -1.63% | Primarily due to the repayment of short-term borrowings | [Major Overseas Assets](index=17&type=section&id=%E4%B8%BB%E8%A6%81%E5%A2%83%E5%A4%96%E8%B5%84%E4%BA%A7%E6%83%85%E5%86%B5) The company had no major overseas assets during the reporting period - The company had no major overseas assets during the reporting period[53](index=53&type=chunk) [Assets and Liabilities Measured at Fair Value](index=17&type=section&id=%E4%BB%A5%E5%85%AC%E5%85%81%E4%BB%B7%E5%80%BC%E8%AE%A1%E9%87%8F%E7%9A%84%E8%B5%84%E4%BA%A7%E5%92%8C%E8%B4%9F%E5%80%BA) At the end of the reporting period, the company's financial assets measured at fair value totaled **CNY 456.80 million**, including **CNY 408.82 million** in trading financial assets, primarily structured deposits, with fair value change gains of **CNY 2.90 million** for the period Assets and Liabilities Measured at Fair Value | Item | Beginning Balance (CNY) | Fair Value Change Gains/Losses in Current Period (CNY) | Ending Balance (CNY) | | :--- | :--- | :--- | :--- | | Trading Financial Assets | 355,058,024.31 | 2,990,216.48 | 408,824,629.87 | | Accounts Receivable Financing | 1,832,000.00 | 0.00 | 2,076,400.00 | | Other Non-current Financial Assets | 45,998,448.00 | -95,155.53 | 45,903,292.47 | | Total Above | 402,888,472.31 | 2,895,060.95 | 456,804,322.34 | [Asset Rights Restriction Status as of the End of the Reporting Period](index=18&type=section&id=%E6%88%AA%E8%87%B3%E6%8A%A5%E5%91%8A%E6%9C%9F%E6%9C%AB%E7%9A%84%E8%B5%84%E4%BA%A7%E6%9D%83%E5%88%A9%E5%8F%97%E9%99%90%E6%83%85%E5%86%B5) As of June 30, 2025, **CNY 7.14 million** in cash and bank balances were restricted as guarantees for bank acceptance bills, quality guarantees, and domestic guarantees, while fixed assets with a book value of **CNY 50.11 million** were pledged for borrowings - As of June 30, 2025, **CNY 7,143,089.76** in other cash and bank balances were deposited as guarantees for bank acceptance bills, quality guarantees, and domestic guarantees applied for by the company[56](index=56&type=chunk) - Fixed assets with a book value of **CNY 50,111,460.25** were pledged for company borrowings[56](index=56&type=chunk) [VI. Investment Analysis](index=18&type=section&id=%E5%85%AD%E3%80%81%E6%8A%95%E8%B5%84%E7%8A%B6%E5%86%B5%E5%88%86%E6%9E%90) The company had no significant equity or non-equity investments during the reporting period; the overall utilization rate of raised funds was **85.56%**, but several committed investment projects failed to meet expected benefits, with some disposed of or changed; wealth management transactions totaled **CNY 407.60 million**, primarily bank wealth management products, with no overdue unrecovered amounts - The company had no significant equity or non-equity investments during the reporting period[57](index=57&type=chunk) Overall Utilization of Raised Funds | Total Raised Funds (CNY 10,000) | Total Used Raised Funds (CNY 10,000) | Cumulative Used Raised Funds (CNY 10,000) | Cumulative Used Raised Funds Ratio | | :--- | :--- | :--- | :--- | | 88,668.51 | 0 | 69,337.07 | 85.56% | - Multiple committed investment projects failed to meet planned progress or expected returns, with some disposed of or fully impaired[60](index=60&type=chunk)[61](index=61&type=chunk)[62](index=62&type=chunk)[63](index=63&type=chunk) Overview of Wealth Management Transactions During the Reporting Period | Specific Type | Amount of Wealth Management Transactions (CNY 10,000) | Unmatured Balance (CNY 10,000) | | :--- | :--- | :--- | | Bank Wealth Management Products (Own Funds) | 5,000 | 5,000 | | Bank Wealth Management Products (Raised Funds) | 35,760 | 35,760 | | Total | 40,760 | 40,760 | [1. Overall Situation](index=18&type=section&id=1%E3%80%81%E6%80%BB%E4%BD%93%E6%83%85%E5%86%B5) The company had no overall investment situation during the reporting period - The company had no overall investment situation during the reporting period[57](index=57&type=chunk) [5. Use of Raised Funds](index=18&type=section&id=5%E3%80%81%E5%8B%9F%E9%9B%86%E8%B5%84%E9%87%91%E4%BD%BF%E7%94%A8%E6%83%85%E5%86%B5) The company's overall utilization rate of raised funds was **85.56%**, but several committed investment projects, such as the HD large-screen splicing display system and digital laboratory system projects, did not achieve expected benefits and involved the disposal or change of related implementation entities; over-raised funds investments, including those in JIBO and Meta, were fully impaired due to JIBO's liquidation and Meta's insolvency Overall Utilization of Raised Funds | Total Raised Funds (CNY 10,000) | Total Used Raised Funds (CNY 10,000) | Cumulative Used Raised Funds (CNY 10,000) | Cumulative Used Raised Funds Ratio | | :--- | :--- | :--- | :--- | | 88,668.51 | 0 | 69,337.07 | 85.56% | - The "HD Large-screen Splicing Display System Project" and "Annual Production of 10,000 Sets of Digital Laboratory System Project" did not achieve expected benefits due to market underperformance, and the equity of related implementation entities has been disposed of[60](index=60&type=chunk)[61](index=61&type=chunk) - Investments in US-based JIBO and Meta companies have been fully impaired due to JIBO's liquidation and Meta's insolvency[62](index=62&type=chunk)[63](index=63&type=chunk) [6. Wealth Management, Derivative Investments, and Entrusted Loans](index=23&type=section&id=6%E3%80%81%E5%A7%94%E6%89%98%E7%90%86%E8%B4%A2%E3%80%81%E8%A1%8D%E7%94%9F%E5%93%81%E6%8A%95%E8%B5%84%E5%92%8C%E5%A7%94%E6%89%98%E8%B4%B7%E6%AC%BE%E6%83%85%E5%86%B5) During the reporting period, the company's wealth management transactions totaled **CNY 407.60 million**, primarily involving bank wealth management products purchased with own and raised funds, with an unmatured balance of **CNY 407.60 million** and no overdue unrecovered amounts; the company had no derivative investments or entrusted loans Overview of Wealth Management Transactions During the Reporting Period | Specific Type | Amount of Wealth Management Transactions (CNY 10,000) | Unmatured Balance (CNY 10,000) | | :--- | :--- | :--- | | Bank Wealth Management Products (Own Funds) | 5,000 | 5,000 | | Bank Wealth Management Products (Raised Funds) | 35,760 | 35,760 | | Total | 40,760 | 40,760 | - The company had no derivative investments or entrusted loans during the reporting period[70](index=70&type=chunk)[71](index=71&type=chunk) [VII. Disposal of Major Assets and Equity](index=26&type=section&id=%E4%B8%83%E3%80%81%E9%87%8D%E5%A4%A7%E8%B5%84%E4%BA%A7%E5%92%8C%E8%82%A1%E6%9D%83%E5%87%BA%E5%94%AE) The company did not dispose of any major assets or equity during the reporting period - The company did not dispose of any major assets during the reporting period[72](index=72&type=chunk) - The company did not dispose of any major equity during the reporting period[73](index=73&type=chunk) [VIII. Analysis of Major Holding and Participating Companies](index=26&type=section&id=%E5%85%AB%E3%80%81%E4%B8%BB%E8%A6%81%E6%8E%A7%E8%82%A1%E5%8F%82%E8%82%A1%E5%85%AC%E5%8F%B8%E5%88%86%E6%9E%90) The company's major participating company, Shenzhen Lanpu Vision Technology Co., Ltd., reported operating revenue of **CNY 166.18 million** and net profit of **CNY 0.16 million**; wholly-owned subsidiary Huanghe Huaxia Technology (Henan) Co., Ltd. reported operating revenue of **CNY 40.05 million** and net profit of **CNY 18.57 million**; during the reporting period, the company established a new controlling subsidiary, Shenzhen Yiransi Technology Co., Ltd., transferred equity in controlling subsidiary Shanghai Yujian Guanghai Culture Technology Co., Ltd., and deregistered Henan Zhongke General Electronic Information Technology Co., Ltd Major Holding and Participating Companies | Company Name | Company Type | Main Business | Registered Capital (CNY) | Operating Revenue (CNY) | Net Profit (CNY) | | :--- | :--- | :--- | :--- | :--- | :--- | | Shenzhen Lanpu Vision Technology Co., Ltd. | Associate | Electronic display products, LED integrated systems, etc. | 35,000,000.00 | 166,175,123.40 | 158,000.78 | | Huanghe Huaxia Technology (Henan) Co., Ltd. | Subsidiary | Electronic product research, development, sales, etc. | 95,000,000.00 | 40,053,957.58 | 18,571,592.52 | - During the reporting period, the company initiated the establishment of controlling subsidiary Shenzhen Yiransi Technology Co., Ltd., holding **65%** of its equity[75](index=75&type=chunk) - The company transferred **51%** equity in controlling subsidiary Shanghai Yujian Guanghai Culture Technology Co., Ltd. through an agreement[75](index=75&type=chunk) - The company deregistered controlling sub-subsidiary Henan Zhongke General Electronic Information Technology Co., Ltd.[75](index=75&type=chunk) [IX. Structured Entities Controlled by the Company](index=27&type=section&id=%E4%B9%9D%E3%80%81%E5%85%AC%E5%8F%B8%E6%8E%A7%E5%88%B6%E7%9A%84%E7%BB%93%E6%9E%84%E5%8C%96%E4%B8%BB%E4%BD%93%E6%83%85%E5%86%B5) The company had no structured entities under its control during the reporting period - The company had no structured entities under its control during the reporting period[76](index=76&type=chunk) [X. Risks Faced by the Company and Countermeasures](index=27&type=section&id=%E5%8D%81%E3%80%81%E5%85%AC%E5%8F%B8%E9%9D%A2%E4%B8%B4%E7%9A%84%E9%A3%8E%E9%99%A9%E5%92%8C%E5%BA%94%E5%AF%B9%E6%8E%AA%E6%96%BD) The company faces three main risks: product R&D, market competition, and accounts receivable; to mitigate these, the company will improve its R&D system, increase investment in cutting-edge technologies, strengthen market research, implement differentiated strategies, and enhance customer credit period management and accounts receivable collection mechanisms - The company faces product R&D risks, which may impact product market launch due to lower-than-expected market demand or R&D delays[76](index=76&type=chunk) - Intensified market competition may reduce the company's market share and overall competitiveness[77](index=77&type=chunk) - Deterioration of customer financial conditions or changes in credit terms may increase the risk of accounts receivable bad debts[78](index=78&type=chunk) - Countermeasures include improving the R&D system, increasing investment in cutting-edge technologies, strengthening market research, implementing differentiated strategies, and enhancing customer credit period management and accounts receivable collection mechanisms[76](index=76&type=chunk)[77](index=77&type=chunk)[78](index=78&type=chunk) [XI. Registration Form for Research, Communication, Interview, and Other Activities During the Reporting Period](index=28&type=section&id=%E5%8D%81%E4%B8%80%E3%80%81%E6%8A%A5%E5%91%8A%E6%9C%9F%E5%86%85%E6%8E%A5%E5%BE%85%E8%B0%83%E7%A0%94%E3%80%81%E6%B2%9F%E9%80%9A%E3%80%81%E9%87%87%E8%AE%BF%E7%AD%89%E6%B4%BB%E5%8A%A8%E7%99%BB%E8%AE%B0%E8%A1%A8) During the reporting period, on April 29, 2025, the company hosted individual investors through an online platform to discuss 2024 annual performance-related content, which has been disclosed on Juchao Information Network - On April 29, 2025, the company hosted individual investors through an online platform to discuss 2024 annual performance, and relevant records have been disclosed on Juchao Information Network[79](index=79&type=chunk) [XII. Formulation and Implementation of Market Value Management System and Valuation Enhancement Plan](index=28&type=section&id=%E5%8D%81%E4%BA%8C%E3%80%81%E5%B8%82%E5%80%BC%E7%AE%A1%E7%90%86%E5%88%B6%E5%BA%A6%E5%92%8C%E4%BC%B0%E5%80%BC%E6%8F%90%E5%8D%87%E8%AE%A1%E5%88%92%E7%9A%84%E5%88%B6%E5%AE%9A%E8%90%BD%E5%AE%9E%E6%83%85%E5%86%B5) The company formulated and approved its "Market Value Management System" in February 2025 but has not yet disclosed a valuation enhancement plan - The company formulated and approved the "Market Value Management System" in February 2025 at the fourteenth meeting of the seventh board of directors[80](index=80&type=chunk) - The company has not yet disclosed a valuation enhancement plan[80](index=80&type=chunk) [XIII. Implementation of "Quality and Return Dual Enhancement" Action Plan](index=28&type=section&id=%E5%8D%81%E4%B8%89%E3%80%81%E2%80%9C%E8%B4%A8%E9%87%8F%E5%9B%9E%E6%8A%A5%E5%8F%8C%E6%8F%90%E5%8D%87%E2%80%9D%E8%A1%8C%E5%8A%A8%E6%96%B9%E6%A1%88%E8%B4%AF%E5%BD%BB%E8%90%BD%E5%AE%9E%E6%83%85%E5%86%B5) The company did not disclose any announcements regarding the "Quality and Return Dual Enhancement" action plan during the reporting period - The company did not disclose any announcements regarding the "Quality and Return Dual Enhancement" action plan during the reporting period[82](index=82&type=chunk) [Section IV Corporate Governance, Environment, and Society](index=29&type=section&id=%E7%AC%AC%E5%9B%9B%E8%8A%82%20%E5%85%AC%E5%8F%B8%E6%B2%BB%E7%90%86%E3%80%81%E7%8E%AF%E5%A2%83%E5%92%8C%E7%A4%BE%E4%BC%9A) [I. Changes in Directors, Supervisors, and Senior Management](index=29&type=section&id=%E4%B8%80%E3%80%81%E5%85%AC%E5%8F%B8%E8%91%A3%E4%BA%8B%E3%80%81%E7%9B%91%E4%BA%8B%E3%80%81%E9%AB%98%E7%BA%A7%E7%AE%A1%E7%90%86%E4%BA%BA%E5%91%98%E5%8F%98%E5%8A%A8%E6%83%85%E5%86%B5) During the reporting period, there were multiple changes in the company's directors, supervisors, and senior management: Mr. Wu Leiming resigned as independent director due to term expiration, and Mr. Zhang Jun was elected as an independent director; Ms. Li Yamin resigned as independent director for personal reasons, and Ms. Fang Xiaomin was elected as an independent director; Mr. Xu Wei was appointed as deputy general manager Changes in Directors, Supervisors, and Senior Management | Name | Position Held | Type | Date | Reason | | :--- | :--- | :--- | :--- | :--- | | Wu Leiming | Former Independent Director | Resignation due to term expiration | March 13, 2025 | Personal reasons | | Zhang Jun | Independent Director | Elected | March 13, 2025 | Job transfer | | Li Yamin | Former Independent Director | Resignation | May 22, 2025 | Personal reasons | | Fang Xiaomin | Independent Director | Elected | May 22, 2025 | Job transfer | | Xu Wei | Deputy General Manager | Appointed | April 22, 2025 | Job transfer | [II. Profit Distribution and Capital Reserve Conversion to Share Capital During the Reporting Period](index=29&type=section&id=%E4%BA%8C%E3%80%81%E6%9C%AC%E6%8A%A5%E5%91%8A%E6%9C%9F%E5%88%A9%E6%B6%A6%E5%88%86%E9%85%8D%E5%8F%8A%E8%B5%84%E6%9C%AC%E5%85%AC%E7%A7%AF%E9%87%91%E8%BD%AC%E5%A2%9E%E8%82%A1%E6%9C%AC%E6%83%85%E5%86%B5) The company plans not to distribute cash dividends, bonus shares, or convert capital reserves into share capital for the semi-annual period - The company plans not to distribute cash dividends, bonus shares, or convert capital reserves into share capital for the semi-annual period[84](index=84&type=chunk) [III. Implementation of Equity Incentive Plans, Employee Stock Ownership Plans, or Other Employee Incentive Measures](index=29&type=section&id=%E4%B8%89%E3%80%81%E5%85%AC%E5%8F%B8%E8%82%A1%E6%9D%83%E6%BF%80%E5%8A%B1%E8%AE%A1%E5%88%92%E3%80%81%E5%91%98%E5%B7%A5%E6%8C%81%E8%82%A1%E8%AE%A1%E5%88%92%E6%88%96%E5%85%B6%E4%BB%96%E5%91%98%E5%B7%A5%E6%BF%80%E5%8A%B1%E6%8E%AA%E6%96%BD%E7%9A%84%E5%AE%9E%E6%96%BD%E6%83%85%E5%86%B5) The company had no equity incentive plans, employee stock ownership plans, or other employee incentive measures and their implementation during the reporting period - The company had no equity incentive plans, employee stock ownership plans, or other employee incentive measures and their implementation during the reporting period[85](index=85&type=chunk) [IV. Environmental Information Disclosure](index=30&type=section&id=%E5%9B%9B%E3%80%81%E7%8E%AF%E5%A2%83%E4%BF%A1%E6%81%AF%E6%8A%AB%E9%9C%B2%E6%83%85%E5%86%B5) The company and its major subsidiaries were not included in the list of enterprises required to disclose environmental information by law - The listed company and its major subsidiaries were not included in the list of enterprises required to disclose environmental information by law[86](index=86&type=chunk) [V. Social Responsibility](index=30&type=section&id=%E4%BA%94%E3%80%81%E7%A4%BE%E4%BC%9A%E8%B4%A3%E4%BB%BB%E6%83%85%E5%86%B5) The company is committed to improving its corporate governance structure, strictly adhering to laws and regulations, safeguarding employee rights, prioritizing investor relations management, and upholding business ethics and compliance to protect supplier and customer interests, thereby achieving coordinated economic, social, and environmental development - The company strictly adheres to relevant laws and regulations to improve its corporate governance structure, formulating or revising multiple rules and regulations to provide institutional guarantees for standardized operations[86](index=86&type=chunk) - The company strictly complies with labor laws and other regulations, safeguarding employees' legitimate rights and interests, establishing human resource and social insurance management systems, and focusing on employee physical and mental health[87](index=87&type=chunk) - The company prioritizes investor relations management, engaging with investors through various channels and fulfilling information disclosure obligations[88](index=88&type=chunk) - The company upholds business ethics and compliance, protecting the legitimate rights and interests of suppliers and customers through a comprehensive sales and delivery system and supplier management system[89](index=89&type=chunk) [Section V Significant Matters](index=31&type=section&id=%E7%AC%AC%E4%BA%94%E8%8A%82%20%E9%87%8D%E8%A6%81%E4%BA%8B%E9%A1%B9) [I. Fulfilled and Overdue Unfulfilled Commitments by Actual Controllers, Shareholders, Related Parties, Acquirers, and the Company During the Reporting Period](index=31&type=section&id=%E4%B8%80%E3%80%81%E5%85%AC%E5%8F%B8%E5%AE%9E%E9%99%85%E6%8E%A7%E5%88%B6%E4%BA%BA%E3%80%81%E8%82%A1%E4%B8%9C%E3%80%81%E5%85%B3%E8%81%94%E6%96%B9%E3%80%81%E6%94%B6%E8%B4%AD%E4%BA%BA%E4%BB%A5%E5%8F%8A%E5%85%AC%E5%8F%B8%E7%AD%89%E6%89%BF%E8%AF%BA%E7%9B%B8%E5%85%B3%E6%96%B9%E5%9C%A8%E6%8A%A5%E5%91%8A%E6%9C%9F%E5%86%85%E5%B1%A5%E8%A1%8C%E5%AE%8C%E6%AF%95%E5%8F%8A%E6%88%AA%E8%87%B3%E6%8A%A5%E5%91%8A%E6%9C%9F%E6%9C%AB%E8%B6%85%E6%9C%9F%E6%9C%AA%E5%B1%A5%E8%A1%8C%E5%AE%8C%E6%AF%95%E7%9A%84%E6%89%BF%E8%AF%BA%E4%BA%8B%E9%A1%B9) The company's actual controllers, shareholders, and related parties duly fulfilled their commitments regarding the listed company's independence, avoidance of horizontal competition, and reduction of regulated related-party transactions, as well as share lock-up commitments made during the initial public offering, with no overdue unfulfilled matters at the end of the reporting period - Kaifeng Jin控 Technology Development Co., Ltd. and Kaifeng Jin控 Investment Group Co., Ltd. committed to ensuring the listed company's independence in personnel, assets, finance, organization, and business, and to avoiding horizontal competition and reducing regulated related-party transactions, all of which were duly fulfilled during the reporting period[91](index=91&type=chunk)[92](index=92&type=chunk)[93](index=93&type=chunk)[94](index=94&type=chunk)[95](index=95&type=chunk)[96](index=96&type=chunk)[97](index=97&type=chunk) - Ningbo Gauss Investment Co., Ltd. committed to avoiding horizontal competition, which was duly fulfilled during the reporting period[97](index=97&type=chunk) - Directors, supervisors, and senior management who are also shareholders committed to share lock-up, which was duly fulfilled during the reporting period[97](index=97&type=chunk)[98](index=98&type=chunk) [II. Non-operating Fund Occupation by Controlling Shareholders and Other Related Parties](index=39&type=section&id=%E4%BA%8C%E3%80%81%E6%8E%A7%E8%82%A1%E8%82%A1%E4%B8%9C%E5%8F%8A%E5%85%B6%E4%BB%96%E5%85%B3%E8%81%94%E6%96%B9%E5%AF%B9%E4%B8%8A%E5%B8%82%E5%85%AC%E5%8F%B8%E7%9A%84%E9%9D%9E%E7%BB%8F%E8%90%A5%E6%80%A7%E5%8D%A0%E7%94%A8%E8%B5%84%E9%87%91%E6%83%85%E5%86%B5) During the reporting period, the company had no non-operating fund occupation by controlling shareholders or other related parties - During the reporting period, the listed company had no non-operating fund occupation by controlling shareholders or other related parties[99](index=99&type=chunk) [III. Irregular External Guarantees](index=39&type=section&id=%E4%B8%89%E3%80%81%E8%BF%9D%E8%A7%84%E5%AF%B9%E5%A4%96%E6%8B%85%E4%BF%9D%E6%83%85%E5%86%B5) The company had no irregular external guarantees during the reporting period - The company had no irregular external guarantees during the reporting period[100](index=100&type=chunk) [IV. Appointment and Dismissal of Accounting Firms](index=39&type=section&id=%E5%9B%9B%E3%80%81%E8%81%98%E4%BB%BB%E3%80%81%E8%A7%A3%E8%81%98%E4%BC%9A%E8%AE%A1%E5%B8%88%E4%BA%8B%E5%8A%A1%E6%89%80%E6%83%85%E5%86%B5) The company's semi-annual financial report was unaudited - The company's semi-annual report was unaudited[101](index=101&type=chunk) [V. Explanations by the Board of Directors, Supervisory Board, and Audit Committee Regarding the Accounting Firm's "Non-Standard Audit Report" for the Current Period](index=39&type=section&id=%E4%BA%94%E3%80%81%E8%91%A3%E4%BA%8B%E4%BC%9A%E3%80%81%E7%9B%91%E4%BA%8B%E4%BC%9A%E3%80%81%E5%AE%A1%E8%AE%A1%E5%A7%94%E5%91%98%E4%BC%9A%E5%AF%B9%E4%BC%9A%E8%AE%A1%E5%B8%88%E4%BA%8B%E5%8A%A1%E6%89%80%E6%9C%AC%E6%8A%A5%E5%91%8A%E6%9C%9F%E2%80%9C%E9%9D%9E%E6%A0%87%E5%87%86%E5%AE%A1%E8%AE%A1%E6%8A%A5%E5%91%8A%E2%80%9D%E7%9A%84%E8%AF%B4%E6%98%8E) The company had no non-standard audit report during the reporting period - The company had no non-standard audit report during the reporting period[102](index=102&type=chunk) [VI. Explanations by the Board of Directors Regarding the "Non-Standard Audit Report" for the Prior Year](index=39&type=section&id=%E5%85%AD%E3%80%81%E8%91%A3%E4%BA%8B%E4%BC%9A%E5%AF%B9%E4%B8%8A%E5%B9%B4%E5%BA%A6%E2%80%9C%E9%9D%9E%E6%A0%87%E5%87%86%E5%AE%A1%E8%AE%A1%E6%8A%A5%E5%91%8A%E2%80%9D%E7%9B%B8%E5%85%B3%E6%83%85%E5%86%B5%E7%9A%84%E8%AF%B4%E6%98%8E) The company had no explanations regarding the prior year's non-standard audit report during the reporting period - The company had no explanations regarding the prior year's non-standard audit report during the reporting period[102](index=102&type=chunk) [VII. Bankruptcy and Reorganization Matters](index=39&type=section&id=%E4%B8%83%E3%80%81%E7%A0%B4%E4%BA%A7%E9%87%8D%E6%95%B4%E7%9B%B8%E5%85%B3%E4%BA%8B%E9%A1%B9) The company had no bankruptcy and reorganization matters during the reporting period - The company had no bankruptcy and reorganization matters during the reporting period[102](index=102&type=chunk) [VIII. Litigation Matters](index=39&type=section&id=%E5%85%AB%E3%80%81%E8%AF%89%E8%AE%BC%E4%BA%8B%E9%A1%B9) During the reporting period, the company was involved in multiple sales contract disputes; some were successfully litigated and completed or are in execution, some were settled and withdrawn, and one significant lawsuit against China Mobile Communications Group Henan Co., Ltd. Kaifeng Tongxu Branch is ongoing Major Litigation and Arbitration Matters | Basic Information of Litigation (Arbitration) | Amount Involved (CNY 10,000) | Litigation (Arbitration) Progress | Litigation (Arbitration) Outcome and Impact | Litigation (Arbitration) Judgment Enforcement | | :--- | :--- | :--- | :--- | :--- | | Company sued Beijing Zhongke Wenge Technology Co., Ltd. for sales contract dispute | 227.6 | Won the case | Recovered funds | Fully performed | | Company sued Jiangsu Mobile Information System Integration Co., Ltd. for sales contract dispute | 317.61 | Won the case | Won the case | In execution | | Company sued Tang Anfeng for sales contract dispute | 499.88 | Defendant promised payment, company withdrew lawsuit in March 2025 | Not applicable | Not applicable | | Company sued Xindian Technology Co., Ltd. for sales contract dispute | 294.18 | Both parties reached a settlement, company withdrew lawsuit in February 2025 | Both parties settled | Defendant has paid relevant amounts to the company | | Company sued China Mobile Communications Group Henan Co., Ltd. Kaifeng Tongxu Branch for sales contract dispute | 789.9 | In litigation | No outcome yet | No outcome yet | [IX. Penalties and Rectification](index=40&type=section&id=%E4%B9%9D%E3%80%81%E5%A4%84%E7%BD%9A%E5%8F%8A%E6%95%B4%E6%94%B9%E6%83%85%E5%86%B5) The company had no penalties or rectification situations during the reporting period - The company had no penalties or rectification situations during the reporting period[105](index=105&type=chunk) [X. Integrity Status of the Company, its Controlling Shareholder, and Actual Controller](index=40&type=section&id=%E5%8D%81%E3%80%81%E5%85%AC%E5%8F%B8%E5%8F%8A%E5%85%B6%E6%8E%A7%E8%82%A1%E8%82%A1%E4%B8%9C%E3%80%81%E5%AE%9E%E9%99%85%E6%8E%A7%E5%88%B6%E4%BA%BA%E7%9A%84%E8%AF%9A%E4%BF%A1%E7%8A%B6%E5%86%B5) The company had no issues regarding the integrity status of itself, its controlling shareholder, or its actual controller during the reporting period - The company had no issues regarding the integrity status of itself, its controlling shareholder, or its actual controller during the reporting period[105](index=105&type=chunk) [XI. Significant Related-Party Transactions](index=40&type=section&id=%E5%8D%81%E4%B8%80%E3%80%81%E9%87%8D%E5%A4%A7%E5%85%B3%E8%81%94%E4%BA%A4%E6%98%93) During the reporting period, the company had no related-party transactions related to daily operations, asset or equity acquisitions/disposals, joint external investments, or related-party creditor/debtor relationships, nor any deposit, loan, credit, or other financial business dealings with affiliated financial companies - The company had no related-party transactions related to daily operations during the reporting period[106](index=106&type=chunk) - The company had no related-party transactions involving asset or equity acquisitions/disposals during the reporting period[107](index=107&type=chunk) - The company had no related-party transactions involving joint external investments during the reporting period[108](index=108&type=chunk) - The company had no related-party creditor/debtor relationships during the reporting period[109](index=109&type=chunk) - The company had no deposit, loan, credit, or other financial business dealings with affiliated financial companies or financial companies controlled by the company and related parties[110](index=110&type=chunk)[111](index=111&type=chunk) [XII. Major Contracts and Their Performance](index=41&type=section&id=%E5%8D%81%E4%BA%8C%E3%80%81%E9%87%8D%E5%A4%A7%E5%90%88%E5%90%8C%E5%8F%8A%E5%85%B6%E5%B1%A5%E8%A1%8C%E6%83%85%E5%86%B5) The company had no major contracts, including those for trusteeship, contracting, leasing, significant guarantees, or other significant operational contracts, during the reporting period - The company had no trusteeship situations during the reporting period[113](index=113&type=chunk) - The company had no contracting situations during the reporting period[114](index=114&type=chunk) - The company had no leasing situations during the reporting period[115](index=115&type=chunk) - The company had no significant guarantee situations during the reporting period[116](index=116&type=chunk) - The company had no major operational contracts or other significant contracts during the reporting period[117](index=117&type=chunk) [XIII. Explanation of Other Significant Matters](index=42&type=section&id=%E5%8D%81%E4%B8%89%E3%80%81%E5%85%B6%E4%BB%96%E9%87%8D%E5%A4%A7%E4%BA%8B%E9%A1%B9%E7%9A%84%E8%AF%B4%E6%98%8E) The company was recognized as a high-tech enterprise in December 2024, valid for three years, entitling it to a **15%** corporate income tax preferential rate; its business term has been changed to long-term; during the reporting period, independent directors Wu Leiming and Li Yamin resigned due to term expiration or personal reasons, and Zhang Jun and Fang Xiaomin were respectively elected as independent directors - The company was recognized as a high-tech enterprise on December 6, 2024, valid for three years, and can pay corporate income tax at a **15%** rate[118](index=118&type=chunk) - The company's business term has been changed from "June 10, 1992 to February 22, 2025" to "June 10, 1992 to long-term"[118](index=118&type=chunk)[119](index=119&type=chunk) - Independent director Mr. Wu Leiming resigned due to term expiration, and Mr. Zhang Jun was elected as an independent director[120](index=120&type=chunk) - Independent director Ms. Li Yamin resigned for personal reasons, and Ms. Fang Xiaomin was elected as an independent director[121](index=121&type=chunk)[122](index=122&type=chunk) [XIV. Significant Matters of Company Subsidiaries](index=43&type=section&id=%E5%8D%81%E5%9B%9B%E3%80%81%E5%85%AC%E5%8F%B8%E5%AD%90%E5%85%AC%E5%8F%B8%E9%87%8D%E5%A4%A7%E4%BA%8B%E9%A1%B9) During the reporting period, the company jointly established controlling subsidiary Shenzhen Yiransi Technology Co., Ltd. with Shenzhen Weishi Commercial Display Technology Co., Ltd., holding **65%** equity; the company transferred **51%** equity in controlling subsidiary Shanghai Yujian Guanghai Culture Technology Co., Ltd.; additionally, the company deregistered controlling sub-subsidiary Henan Zhongke General Electronic Information Technology Co., Ltd. to enhance operational efficiency - The company jointly established controlling subsidiary Shenzhen Yiransi Technology Co., Ltd. with Shenzhen Weishi Commercial Display Technology Co., Ltd., with the company planning to invest **CNY 6.5 million** of its own funds, holding **65%** of the equity[123](index=123&type=chunk) - The company transferred **51%** equity in controlling subsidiary Shanghai Yujian Guanghai Culture Technology Co., Ltd.[124](index=124&type=chunk) - The company deregistered controlling sub-subsidiary Henan Zhongke General Electronic Information Technology Co., Ltd. to enhance the company's overall operational efficiency[125](index=125&type=chunk) [Section VI Changes in Shares and Shareholder Information](index=44&type=section&id=%E7%AC%AC%E5%85%AD%E8%8A%82%20%E8%82%A1%E4%BB%BD%E5%8F%98%E5%8A%A8%E5%8F%8A%E8%82%A1%E4%B8%9C%E6%83%85%E5%86%B5) [I. Changes in Shares](index=44&type=section&id=%E4%B8%80%E3%80%81%E8%82%A1%E4%BB%BD%E5%8F%98%E5%8A%A8%E6%83%85%E5%86%B5) During the reporting period, the company's total share capital remained unchanged at **424,000,000 shares**, all of which are unrestricted shares, with zero restricted shares; the company did not engage in share repurchases or centralized bidding for repurchased shares Changes in Shares | Item | Number Before This Change (shares) | Proportion Before This Change | Net Increase/Decrease in This Change (shares) | Number After This Change (shares) | Proportion After This Change | | :--- | :--- | :--- | :--- | :--- | :--- | | I. Restricted Shares | 0 | 0.00% | 0 | 0 | 0.00% | | II. Unrestricted Shares | 424,000,000 | 100.00% | 0 | 424,000,000 | 100.00% | | III. Total Shares | 424,000,000 | 100.00% | 0 | 424,000,000 | 100.00% | - During the reporting period, the reasons for changes in company shares, approval status, transfer status, progress of share repurchase implementation, and progress of centralized bidding for repurchased shares were all not applicable or did not occur[129](index=129&type=chunk) [II. Issuance and Listing of Securities](index=45&type=section&id=%E4%BA%8C%E3%80%81%E8%AF%81%E5%88%B8%E5%8F%91%E8%A1%8C%E4%B8%8E%E4%B8%8A%E5%B8%82%E6%83%85%E5%86%B5) The company had no securities issuance or listing activities during the reporting period - The company had no securities issuance or listing activities during the reporting period[129](index=129&type=chunk) [III. Number of Shareholders and Shareholding Structure](index=45&type=section&id=%E4%B8%89%E3%80%81%E5%85%AC%E5%8F%B8%E8%82%A1%E4%B8%9C%E6%95%B0%E9%87%8F%E5%8F%8A%E6%8C%81%E8%82%A1%E6%83%85%E5%86%B5) As of the end of the reporting period, the company had **34,901** common shareholders; among the top ten shareholders, Ningbo Gauss Investment Co., Ltd. held **29.72%** of shares, with **62,998,000 shares** pledged, and Guo Qiyin held **2.92%**; the top ten unrestricted shareholders were largely consistent with the top ten shareholders - The total number of common shareholders at the end of the reporting period was **34,901**[130](index=130&type=chunk) Shareholding of Shareholders Holding 5% or More or Top 10 Shareholders | Shareholder Name | Shareholder Nature | Shareholding Percentage | Number of Shares Held at End of Reporting Period (shares) | Share Status | Number (shares) | | :--- | :--- | :--- | :--- | :--- | :--- | | Ningbo Gauss Investment Co., Ltd. | State-owned Legal Person | 29.72% | 125,996,000.00 | Pledged | 62,998,000.00 | | Guo Qiyin | Domestic Natural Person | 2.92% | 12,398,952.00 | Not applicable | 0 | | Zhu Jun | Domestic Natural Person | 0.67% | 2,850,000.00 | Not applicable | 0 | | Tang Qingping | Domestic Natural Person | 0.38% | 1,630,600.00 | Not applicable | 0 | | BARCLAYS BANK PLC | Overseas Legal Person | 0.35% | 1,474,300.00 | Not applicable | 0 | | Chen Weixiong | Domestic Natural Person | 0.33% | 1,399,100.00 | Not applicable | 0 | | Wei Haibo | Domestic Natural Person | 0.30% | 1,276,600.00 | Not applicable | 0 | | Chen Mingqin | Domestic Natural Person | 0.27% | 1,148,300.00 | Not applicable | 0 | | Liu Qian | Domestic Natural Person | 0.26% | 1,100,000.00 | Not applicable | 0 | | Chen Yunhua | Domestic Natural Person | 0.25% | 1,070,100.00 | Not applicable | 0 | - The company's top 10 common shareholders and top 10 unrestricted common shareholders did not engage in agreed repurchase transactions during the reporting period[132](index=132&type=chunk) [IV. Changes in Shareholdings of Directors, Supervisors, and Senior Management](index=47&type=section&id=%E5%9B%9B%E3%80%81%E8%91%A3%E4%BA%8B%E3%80%81%E7%9B%91%E4%BA%8B%E5%92%8C%E9%AB%98%E7%BA%A7%E7%AE%A1%E7%90%86%E4%BA%BA%E5%91%98%E6%8C%81%E8%82%A1%E5%8F%98%E5%8A%A8) The shareholdings of the company's directors, supervisors, and senior management remained unchanged during the reporting period, as detailed in the 2024 annual report - The shareholdings of the company's directors, supervisors, and senior management remained unchanged during the reporting period, as detailed in the 2024 annual report[133](index=133&type=chunk) [V. Changes in Controlling Shareholder or Actual Controller](index=47&type=section&id=%E4%BA%94%E3%80%81%E6%8E%A7%E8%82%A1%E8%82%A1%E4%B8%9C%E6%88%96%E5%AE%9E%E9%99%85%E6%8E%A7%E5%88%B6%E4%BA%BA%E5%8F%98%E6%9B%B4%E6%83%85%E5%86%B5) The company's controlling shareholder and actual controller remained unchanged during the reporting period - The company's controlling shareholder remained unchanged during the reporting period[134](index=134&type=chunk) - The company's actual controller remained unchanged during the reporting period[134](index=134&type=chunk) [VI. Preferred Shares](index=48&type=section&id=%E5%85%AD%E3%80%81%E4%BC%98%E5%85%88%E8%82%A1%E7%9B%B8%E5%85%B3%E6%83%85%E5%86%B5) The company had no preferred shares during the reporting period - The company had no preferred shares during the reporting period[135](index=135&type=chunk) [Section VII Bond-Related Information](index=49&type=section&id=%E7%AC%AC%E4%B8%83%E8%8A%82%20%E5%80%BA%E5%88%B8%E7%9B%B8%E5%85%B3%E6%83%85%E5%86%B5) [Bond-Related Information](index=49&type=section&id=%E5%80%BA%E5%88%B8%E7%9B%B8%E5%85%B3%E6%83%85%E5%86%B5) The company had no bond-related information during the reporting period - The company had no bond-related information during the reporting period[137](index=137&type=chunk) [Section VIII Financial Report](index=50&type=section&id=%E7%AC%AC%E5%85%AB%E8%8A%82%20%E8%B4%A2%E5%8A%A1%E6%8A%A5%E5%91%8A) [I. Audit Report](index=50&type=section&id=%E4%B8%80%E3%80%81%E5%AE%A1%E8%AE%A1%E6%8A%A5%E5%91%8A) The company's semi-annual financial report was unaudited - The company's semi-annual financial report was unaudited[139](index=139&type=chunk) [II. Financial Statements](index=50&type=section&id=%E4%BA%8C%E3%80%81%E8%B4%A2%E5%8A%A1%E6%8A%A5%E8%A1%A8) This section presents the company's consolidated and parent company balance sheets, income statements, cash flow statements, and statements of changes in owners' equity for the first half of 2025, providing a detailed overview of the financial position, operating results, and cash flows at the end of the reporting period [1. Consolidated Balance Sheet](index=50&type=section&id=1%E3%80%81%E5%90%88%E5%B9%B6%E8%B5%84%E4%BA%A7%E8%B4%9F%E5%80%BA%E8%A1%A8) As of June 30, 2025, the company's consolidated total assets were **CNY 1.004 billion**, a **4.12%** decrease from the beginning of the period; total current assets were **CNY 666.31 million**, total non-current assets were **CNY 338.00 million**; total liabilities were **CNY 92.47 million**, and total owners' equity was **CNY 911.84 million** Consolidated Balance Sheet Key Data | Item | Ending Balance (CNY) | Beginning Balance (CNY) | | :--- | :--- | :--- | | Total Assets | 1,004,305,419.80 | 1,047,443,675.00 | | Total Current Assets | 666,307,511.54 | 708,198,652.28 | | Total Non-Current Assets | 337,997,908.26 | 339,245,022.72 | | Total Liabilities | 92,468,625.94 | 116,207,222.67 | | Total Owners' Equity | 911,836,793.86 | 931,236,452.33 | [2. Parent Company Balance Sheet](index=52&type=section&id=2%E3%80%81%E6%AF%8D%E5%85%AC%E5%8F%B8%E8%B5%84%E4%BA%A7%E8%B4%9F%E5%80%BA%E8%A1%A8) As of June 30, 2025, the parent company's total assets were **CNY 1.045 billion**, a **3.24%** decrease from the beginning of the period; total current assets were **CNY 784.17 million**, total non-current assets were **CNY 260.97 million**; total liabilities were **CNY 67.07 million**, and total owners' equity was **CNY 978.07 million** Parent Company Balance Sheet Key Data | Item | Ending Balance (CNY) | Beginning Balance (CNY) | | :--- | :--- | :--- | | Total Assets | 1,045,144,808.90 | 1,080,090,008.07 | | Total Current Assets | 784,171,807.11 | 821,535,401.85 | | Total Non-Current Assets | 260,973,001.79 | 258,554,606.22 | | Total Liabilities | 67,070,974.90 | 83,710,811.39 | | Total Owners' Equity | 978,073,834.00 | 996,379,196.68 | [3. Consolidated Income Statement](index=54&type=section&id=3%E3%80%81%E5%90%88%E5%B9%B6%E5%88%A9%E6%B6%A6%E8%A1%A8) In the first half of 2025, the company's consolidated total operating revenue was **CNY 40.75 million**, a **47.39%** year-over-year decrease; net profit was **CNY -23.10 million**, with the loss expanding year-over-year; net profit attributable to parent company shareholders was **CNY -22.73 million** Consolidated Income Statement Key Data | Item | H1 2025 (CNY) | H1 2024 (CNY) | | :--- | :--- | :--- | | Total Operating Revenue | 40,746,808.29 | 77,454,471.15 | | Total Operating Costs | 64,875,024.90 | 95,738,897.47 | | Total Profit | -23,204,975.55 | -17,521,117.72 | | Net Profit | -23,099,722.22 | -15,704,087.18 | | Net Profit Attributable to Parent Company Shareholders | -22,726,398.01 | -14,859,321.66 | | Basic Earnings Per Share | -0.0536 | -0.0350 | [4. Parent Company Income Statement](index=56&type=section&id=4%E3%80%81%E6%AF%8D%E5%85%AC%E5%8F%B8%E5%88%A9%E6%B6%A6%E8%A1%A8) In the first half of 2025, the parent company's operating revenue was **CNY 30.69 million**, and net profit was **CNY -18.31 million**, with the loss expanding year-over-year; fair value change gains were **CNY 2.90 million** Parent Company Income Statement Key Data | Item | H1 2025 (CNY) | H1 2024 (CNY) | | :--- | :--- | :--- | | Operating Revenue | 30,686,099.39 | 75,097,572.92 | | Operating Profit | -18,479,459.96 | -10,061,716.03 | | Total Profit | -18,305,362.68 | -9,991,283.19 | | Net Profit | -18,305,362.68 | -8,183,564.69 | | Fair Value Change Gains | 2,895,060.95 | 5,107,986.03 | [5. Consolidated Cash Flow Statement](index=58&type=section&id=5%E3%80%81%E5%90%88%E5%B9%B6%E7%8E%B0%E9%87%91%E6%B5%81%E9%87%8F%E8%A1%A8) In the first half of 2025, the company's net cash flow from operating activities was **CNY -41.94 million**, an improvement from the prior year; net cash flow from investing activities was **CNY -51.30 million**, primarily due to wealth management product purchases; net cash flow from financing activities was **CNY -13.65 million**, mainly due to short-term loan repayments Consolidated Cash Flow Statement Key Data | Item | H1 2025 (CNY) | H1 2024 (CNY) | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | -41,939,107.10 | -56,535,902.50 | | Net Cash Flow from Investing Activities | -51,295,642.73 | 129,101,519.85 | | Net Cash Flow from Financing Activities | -13,647,900.40 | 559,046.78 | | Net Increase in Cash and Cash Equivalents | -106,882,650.23 | 73,124,664.13 | | Ending Balance of Cash and Cash Equivalents | 62,337,483.09 | 153,288,662.84 | [6. Parent Company Cash Flow Statement](index=59&type=section&id=6%E3%80%81%E6%AF%8D%E5%85%AC%E5%8F%B8%E7%8E%B0%E9%87%91%E6%B5%81%E9%87%8F%E8%A1%A8) In the first half of 2025, the parent company's net cash flow from operating activities was **CNY -29.02 million**, an improvement from the prior year; net cash flow from investing activities was **CNY -57.70 million**, primarily due to wealth management product purchases; net cash flow from financing activities was **CNY -17.45 million**, mainly due to debt repayment Parent Company Cash Flow Statement Key Data | Item | H1 2025 (CNY) | H1 2024 (CNY) | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | -29,024,422.56 | -54,746,178.51 | | Net Cash Flow from Investing Activities | -57,698,169.34 | 128,751,691.67 | | Net Cash Flow from Financing Activities | -17,452,316.40 | -283,703.22 | | Net Increase in Cash and Cash Equivalents | -104,174,908.30 | 73,721,809.94 | | Ending Balance of Cash and Cash Equivalents | 60,647,544.19 | 151,162,722.41 | [7. Consolidated Statement of Changes in Owners' Equity](index=60&type=section&id=7%E3%80%81%E5%90%88%E5%B9%B6%E6%89%80%E6%9C%89%E8%80%85%E6%9D%83%E7%9B%8A%E5%8F%98%E5%8A%A8%E8%A1%A8) As of June 30, 2025, the company's consolidated total owners' equity was **CNY 911.84 million**, a decrease of **CNY 19.40 million** from the beginning of the period; total owners' equity attributable to the parent company was **CNY 908.23 million**, with retained earnings of **CNY -55.50 million** Consolidated Statement of Changes in Owners' Equity Key Data | Item | Share Capital (CNY) | Capital Reserve (CNY) | Other Comprehensive Income (CNY) | Surplus Reserve (CNY) | Retained Earnings (CNY) | Total Owners' Equity Attributable to Parent Company (CNY) | Minority Interests (CNY) | Total Owners' Equity (CNY) | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Beginning Balance | 424,000,000.00 | 507,845,879.49 | 3,213.11 | 31,879,722.73 | -32,773,488.83 | 930,955,326.50 | 281,125.83 | 931,236,452.33 | | Amount of Change in Current Period | 0.00 | 0.00 | 0.00 | 0.00 | -22,726,398.01 | -22,726,398.01 | 3,326,739.54 | -19,399,658.47 | | Ending Balance | 424,000,000.00 | 507,845,879.49 | 3,213.11 | 31,879,722.73 | -55,499,886.84 | 908,228,928.49 | 3,607,865.37 | 911,836,793.86 | [8. Parent Company Statement of Changes in Owners' Equity](index=64&type=section&id=8%E3%80%81%E6%AF%8D%E5%85%

宁波 GQY 视讯股份有限公司 宁波 GQY 视讯股份有限公司（以下简称"GQY 视讯"或"公司"）第七届 董事会独立董事专门会议第九次会议于 2025 年 8 月 22 日在公司会议室以现场和 通讯方式召开。本次会议通知于 2025 年 8 月 19 日发出。本次会议应出席独立董 事 3 名，实际出席独立董事 3 名。经与会独立董事一致推举，本次会议由独立董 事郝振江先生召集并主持。本次会议的召开符合《中华人民共和国公司法》《上 市公司独立董事管理办法》等法律、行政法规、规范性文件以及《公司章程》 《宁 波 GQY 视讯股份有限公司独立董事工作制度》的规定。与会独立董事对会议通 知的各项议案进行了审议，经与会独立董事讨论并表决，本次专门会议形成以下 决议： 一、审议通过《关于公司董事会换届选举暨提名第八届董事会非独立董事候 选人的议案》 经审核，公司董事会换届选举的非独立董事候选人提名已征得被提名人本人 同意，提名程序符合《公司法》和《公司章程》的有关规定。非独立董事候选人 任职资格符合担任公司董事的条件，具备履行董事职责所必需的工作经验和能力， 不存在《公司法》《深圳证券交易所创业板股票上市规则》《深圳证 ...

Meeting Information - The company, Ningbo GQY Video Technology Co., Ltd., will hold its third extraordinary general meeting of shareholders on September 10, 2025 [1] - The meeting will combine on-site voting and online voting through the Shenzhen Stock Exchange systems [2] Voting Procedures - Shareholders can vote either in person or online, but must choose one method [2] - The voting period for online participation is set for the morning of September 10, 2025 [1][2] Agenda Items - The meeting will review proposals for the election of the eighth board of directors, including both non-independent and independent director candidates [3] - A total of 9 candidates will be nominated, with 6 non-independent and 3 independent directors to be elected [3] Voting Mechanics - The election will utilize a cumulative voting system, allowing shareholders to allocate their votes among candidates [3][4] - Special resolutions require approval from at least two-thirds of the voting rights represented at the meeting [3] Registration and Attendance - Shareholders must register to attend the meeting, with specific requirements for both corporate and individual shareholders [4] - Registration can be done via mail or fax for remote shareholders, but phone registrations are not accepted [4][5] Contact Information - The company has provided contact details for inquiries related to the meeting, including a phone number and fax [5]