[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) This section provides important notices, the table of contents, and definitions relevant to the report [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) This section introduces the company and presents its key financial performance metrics [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) Guangdong Huilun Crystal Technology Co., Ltd. (stock code: 300460) is a company listed on the Shenzhen Stock Exchange, with Zhao Jiqing as its legal representative Company Information | Item | Content | | :--- | :--- | | **Stock Abbreviation** | Huilun Crystal | | **Stock Code** | 300460 | | **Listing Exchange** | Shenzhen Stock Exchange | | **Full Company Name** | Guangdong Huilun Crystal Technology Co., Ltd. | | **Legal Representative** | Zhao Jiqing | [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) The company achieved significant performance improvement during the reporting period, with revenue up 58.73% and net profit attributable to shareholders turning profitable, increasing by 107.72% Key Financial Indicators | Key Financial Indicator | Current Period (RMB) | Prior Year Period (RMB) | YoY Change | | :--- | :--- | :--- | :--- | | Operating Revenue | 287,395,037.34 | 181,064,044.80 | 58.73% | | Net Profit Attributable to Listed Company Shareholders | 2,581,356.79 | -33,445,651.68 | 107.72% | | Net Profit Attributable to Parent Company Shareholders (Excluding Non-recurring Items) | -4,931,900.19 | -49,434,367.55 | 90.02% | | Net Cash Flow from Operating Activities | 33,351,169.69 | 14,473,646.32 | 130.43% | | Basic Earnings Per Share (RMB/share) | 0.01 | -0.12 | 108.33% | | Weighted Average Return on Net Assets | 0.31% | -3.24% | Increased by 3.53 percentage points | | **Asset Status** | **End of Current Period (RMB)** | **End of Prior Year (RMB)** | **YoY Change** | | Total Assets | 1,726,572,662.79 | 1,782,210,443.43 | -3.12% | | Net Assets Attributable to Listed Company Shareholders | 826,970,379.83 | 888,850,227.80 | -6.96% | - During the reporting period, the company's non-recurring gains and losses totaled **RMB 7.51 million**, primarily from government subsidies, significantly contributing to current net profit[27](index=27&type=chunk)[28](index=28&type=chunk) [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) This section provides management's perspective on the company's operations, financial condition, and future outlook [Principal Businesses Engaged in by 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 the R&D, production, and sales of quartz crystal components, benefiting from strategic national support and growing demand from emerging applications - The company primarily engages in the research, development, production, and sales of quartz crystal components, falling under the "Computer, Communication, and Other Electronic Equipment Manufacturing" industry[30](index=30&type=chunk) Global Quartz Crystal Component Market Forecast | Market Forecast | 2023 Scale (USD) | 2030 Estimated Scale (USD) | 2024-2030 CAGR | | :--- | :--- | :--- | :--- | | Global Quartz Crystal Components | 3.576 billion | 7.326 billion | 10.26% | | **Sub-Application Areas** | | | **2024-2030 CAGR** | | Automotive Electronics | 712 million | 1.641 billion | 12.26% | | Wearable Devices | 367 million | 920 million | 13.19% | | IoT | 421 million | 999 million | 12.70% | - The company's high-value-added products, **TSX thermal crystals and TCXO oscillators**, had a combined shipment volume exceeding **214 million units** in the first half of the year, a year-on-year increase of approximately **94.58%**, becoming a core supplier in fields such as satellite communication mobile phones[47](index=47&type=chunk) - The company's performance in the first half of 2024 primarily benefited from the recovery in demand in the consumer electronics and communication markets, leading to increased orders and improved capacity utilization, forming economies of scale[59](index=59&type=chunk) Operating revenue reached **RMB 287 million**, a year-on-year increase of **58.73%**, and net profit attributable to parent company shareholders was **RMB 2.58 million**, a year-on-year increase of **107.72%**[60](index=60&type=chunk) [Analysis of Core Competencies](index=16&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 competencies include advanced lithography technology, rapid product development, efficient digital manufacturing, and strong market access with key IC platform certifications - The company has mastered lithography process production technology, enabling the production of high-fundamental frequency, miniaturized MHz quartz crystal wafers, breaking through the limitations of traditional mechanical grinding[61](index=61&type=chunk) - The company is currently the **only enterprise in mainland China** to be included in MediaTek (MTK) mobile chip reference design list, and the **first crystal oscillator manufacturer** to be included in Qualcomm's automotive-grade chip certification reference design list[50](index=50&type=chunk)[67](index=67&type=chunk) - The company has achieved large-scale, high-quality, and high-efficiency mass production of mid-to-high-end products such as miniaturized SMD resonators, TCXO oscillators, and TSX thermal crystals through the construction of a digital factory[65](index=65&type=chunk) [Analysis of Principal Business](index=18&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) The company's principal business showed strong performance with significant revenue growth, improved cost control, and robust operating cash flow due to market recovery Principal Business Performance | Item | Current Period (RMB) | Prior Year Period (RMB) | YoY Change | Main Reasons for Change | | :--- | :--- | :--- | :--- | :--- | | **Operating Revenue** | 287,395,037.34 | 181,064,044.80 | 58.73% | Market demand recovery, order growth | | **Operating Cost** | 221,970,688.39 | 160,882,425.98 | 37.97% | Increased capacity utilization, economies of scale | | **Selling Expenses** | 10,537,875.78 | 13,698,584.67 | -23.07% | Decrease in advertising and promotional expenses | | **Net Cash Flow from Operating Activities** | 33,351,169.69 | 14,473,646.32 | 130.43% | Increase in operating revenue, increased sales collection | Revenue and Cost by Product | Product | Operating Revenue (RMB) | Operating Cost (RMB) | Gross Margin | Revenue YoY | Cost YoY | Gross Margin YoY | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | SMD | 274,040,528.55 | 213,886,665.52 | 21.95% | 63.99% | 39.68% | Increased by 13.59 percentage points | [Analysis of Assets and Liabilities](index=19&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) The company's asset and liability structure remained stable, with an increase in inventory proportion and certain assets restricted due to collateral or guarantees - Inventory as a percentage of total assets increased from **15.49%** at the end of the previous year to **19.31%**, while fixed assets decreased from **52.58%** to **49.88%**[77](index=77&type=chunk) Restricted Assets | Restricted Asset Item | Book Value at Period End (RMB) | Reason for Restriction | | :--- | :--- | :--- | | Monetary Funds | 31,107,361.53 | Margin | | Fixed Assets | 912,446,979.68 | Finance lease, building mortgage | | Construction in Progress | 34,266,186.78 | Loan collateral | [Analysis of Major Holding and Participating Companies](index=21&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) Among the company's major subsidiaries, Huilun Crystal (Chongqing) Technology Co., Ltd. recorded a significant net loss despite being the largest in asset size, while others were profitable Major Subsidiaries' Financial Performance | Company Name | Type | Total Assets (RMB) | Net Assets (RMB) | Operating Revenue (RMB) | Net Profit (RMB) | | :--- | :--- | :--- | :--- | :--- | :--- | | Huilun (Hong Kong) Industrial Co., Ltd. | Subsidiary | 31,565,577.87 | 23,926,181.96 | 7,233,414.00 | -1,532,275.79 | | Guangzhou Chuangxiangyun Technology Co., Ltd. | Subsidiary | 93,487,367.50 | 72,087,522.29 | 12,036,028.57 | 578,648.03 | | Huilun Crystal (Chongqing) Technology Co., Ltd. | Subsidiary | 1,094,774,969.24 | 387,106,165.05 | 115,783,764.31 | -31,520,339.93 | [Risks Faced by the Company and Countermeasures](index=22&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 risks from macroeconomic downturns, market competition, price fluctuations, and operational challenges, which it plans to address through strategic expansion, R&D, and improved management - **Macroeconomic market risk**: A global economic downturn could impact industries like consumer electronics, affecting the company's performance, which the company plans to address by expanding business areas and reducing costs and increasing efficiency[89](index=89&type=chunk) - **Increased market competition risk**: Technological iteration and new entrants may intensify competition, which the company will counter by increasing R&D investment and deepening customer cooperation[90](index=90&type=chunk) - **Accounts receivable recovery risk**: A large balance of accounts receivable poses liquidity risk, which the company will manage by strengthening monitoring and contract enforcement[94](index=94&type=chunk) - **Slow inventory turnover risk**: Inventory at period-end increased by **22.93%** compared to the beginning of the period, which the company will address by strengthening production-sales coordination and promoting timely customer pickup[95](index=95&type=chunk) [Corporate Governance](index=25&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) This section details changes in the company's senior management and its profit distribution plan for the reporting period [Changes in Senior Management and Profit Distribution](index=25&type=section&id=%E4%BA%8C%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) Vice General Manager Jiang Jianwei resigned during the reporting period, and the company plans no profit distribution for the first half of 2024 - On January 15, 2024, Vice General Manager **Jiang Jianwei** was dismissed due to resignation[100](index=100&type=chunk) - The company's 2024 semi-annual profit distribution plan is to **not distribute cash dividends**, **not send bonus shares**, and **not convert capital reserves into share capital**[101](index=101&type=chunk) [Environmental and Social Responsibility](index=26&type=section&id=%E7%AC%AC%E4%BA%94%E8%8A%82%20%E7%8E%AF%E5%A2%83%E5%92%8C%E7%A4%BE%E4%BC%9A%E8%B4%A3%E4%BB%BB) The company is not a key polluting entity and actively fulfills its environmental and social responsibilities, ensuring stakeholder rights and legal compliance [Environmental and Social Responsibility Practices](index=26&type=section&id=%E4%B8%80%E3%80%81%E9%87%8D%E5%A4%A7%E7%8E%AF%E4%BF%9D%E9%97%AE%E9%A2%98%E6%83%85%E5%86%B5) The company is not a key polluting entity and actively fulfills its environmental and social responsibilities, ensuring stakeholder rights and legal compliance - The company is not classified as a key polluting entity by environmental protection authorities and received no administrative penalties for environmental issues during the reporting period[104](index=104&type=chunk) - In terms of social responsibility, the company fully safeguards the rights and interests of shareholders, employees, suppliers, and customers, actively participates in social welfare, and adheres to legal tax compliance[104](index=104&type=chunk)[105](index=105&type=chunk)[106](index=106&type=chunk) [Significant Matters](index=27&type=section&id=%E7%AC%AC%E5%85%AD%E8%8A%82%20%E9%87%8D%E8%A6%81%E4%BA%8B%E9%A1%B9) This section covers significant events including related party transactions, guarantees, and major subsidiary developments [Occupation of Funds by Controlling Shareholder and Related Party Transactions](index=27&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) The controlling shareholder occupied company funds, and there are outstanding related party receivables and payables Controlling Shareholder Fund Occupation | Occupying Party | Occupied Amount (RMB million) | Percentage of Latest Audited Net Assets | | :--- | :--- | :--- | | Xinjiang Huilun Equity Investment Partnership (Limited Partnership) | 59.47 | 7.20% | Related Party Receivables and Payables | Related Party | Related Party Relationship | Nature of Debt | Balance at Period End (RMB million) | | :--- | :--- | :--- | :--- | | **Receivables** | | | | | Shenzhen Ruicheng Weiye Technology Co., Ltd. | Minority shareholder of subsidiary | Investment in subsidiary | 1.75 | | **Payables** | | | | | Xinjiang Huilun Equity Investment Partnership (Limited Partnership) | Controlling shareholder | Loan | 33.63 | [Significant Guarantees](index=30&type=section&id=2%E3%80%81%E9%87%8D%E5%A4%A7%E6%8B%85%E4%BF%9D) The company provided significant guarantees primarily to its subsidiaries, totaling RMB 448.27 million, representing 54.21% of its net assets Guarantee Information | Guarantee Situation | Amount (RMB million) | | :--- | :--- | | Total approved guarantee limit for subsidiaries during the reporting period | 1,000 | | Total actual guarantee balance for subsidiaries at period-end | 448.27 | | Percentage of total actual guarantee to company's net assets | 54.21% | [Significant Matters of Subsidiaries](index=33&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) Two significant subsidiary matters, including an equity transfer and a capital increase, are still pending completion - The company intends to transfer **40% equity** in its subsidiary Chuangxiangyun to a related party, but as of the report disclosure date, the equity transfer payment has not yet been made[135](index=135&type=chunk) - The wholly-owned subsidiary Shenzhen Huilun plans to introduce an employee stock ownership platform for capital increase and share expansion, but as of the report disclosure date, the capital increase has not yet been completed[136](index=136&type=chunk) [Changes in Shares and Shareholder Information](index=34&type=section&id=%E7%AC%AC%E4%B8%83%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) This section details the company's share capital changes and information on its shareholders [Shareholder Information](index=35&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 reporting period end, the company had 30,113 common shareholders, with significant portions of shares held by the controlling shareholder and actual controller pledged or frozen - As of the end of the reporting period, the company had **30,113 common shareholders**[141](index=141&type=chunk) Major Shareholders' Holdings | Shareholder Name | Shareholding Percentage | Number of Shares Held | Share Status | | :--- | :--- | :--- | :--- | | Xinjiang Huilun Equity Investment Partnership (Limited Partnership) | 14.36% | 40,327,380 | Pledged 19,803,200 shares, Frozen 933,402 shares | | Zhao Jiqing | 5.34% | 15,000,000 | Pledged 4,750,000 shares | | Shijin International Limited | 3.23% | 9,079,723 | Pledged 5,000,000 shares | [Information on Preferred Shares](index=38&type=section&id=%E7%AC%AC%E5%85%AB%E8%8A%82%20%E4%BC%98%E5%85%88%E8%82%A1%E7%9B%B8%E5%85%B3%E6%83%85%E5%86%B5) This section confirms the absence of preferred shares during the reporting period [Preferred Share Information](index=38&type=section&id=%E7%AC%AC%E5%85%AB%E8%8A%82%20%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[147](index=147&type=chunk) [Information on Bonds](index=39&type=section&id=%E7%AC%AC%E4%B9%9D%E8%8A%82%20%E5%80%BA%E5%88%B8%E7%9B%B8%E5%85%B3%E6%83%85%E5%86%B5) This section confirms the absence of bond-related matters during the reporting period [Bond Information](index=39&type=section&id=%E7%AC%AC%E4%B9%9D%E8%8A%82%20%E5%80%BA%E5%88%B8%E7%9B%B8%E5%85%B3%E6%83%85%E5%86%B5) The company had no bond-related matters during the reporting period - The company had no bond-related matters during the reporting period[149](index=149&type=chunk) [Financial Report](index=40&type=section&id=%E7%AC%AC%E5%8D%81%E8%8A%82%20%E8%B4%A2%E5%8A%A1%E6%8A%A5%E5%91%8A) This section presents the company's financial statements and related notes for the reporting period [Audit Report](index=40&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 is unaudited - The company's semi-annual financial report is unaudited[151](index=151&type=chunk) [Financial Statements](index=40&type=section&id=%E4%BA%8C%E3%80%81%E8%B4%A2%E5%8A%A1%E6%8A%A5%E8%A1%A8) This section provides the company's unaudited consolidated and parent company financial statements, including balance sheets, income statements, cash flow statements, and statements of changes in owners' equity [Consolidated Balance Sheet](index=40&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, 2024, the company's total assets were RMB 1.73 billion, total liabilities were RMB 898.33 million, and total owners' equity attributable to the parent company was RMB 826.97 million Consolidated Balance Sheet Summary | Item | Balance at Period End (RMB) | Balance at Period Beginning (RMB) | | :--- | :--- | :--- | | **Total Assets** | 1,726,572,662.79 | 1,721,906,206.72 | | **Total Liabilities** | 898,327,765.01 | 896,200,036.13 | | **Total Owners' Equity** | 828,244,897.78 | 825,706,170.59 | [Consolidated Income Statement](index=44&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 2024, the company achieved total operating revenue of RMB 287.40 million, total operating costs of RMB 293.57 million, total profit of RMB 2.67 million, and net profit attributable to parent company shareholders of RMB 2.58 million Consolidated Income Statement Summary | Item | 2024 Half-Year (RMB) | 2023 Half-Year (RMB) | | :--- | :--- | :--- | | **Total Operating Revenue** | 287,395,037.34 | 181,064,044.80 | | **Total Operating Cost** | 293,571,993.52 | 232,540,488.78 | | **Total Profit** | 2,668,231.61 | -33,445,633.09 | | **Net Profit** | 2,538,727.19 | -33,445,651.68 | | **Net Profit Attributable to Parent Company Shareholders** | 2,581,356.79 | -33,445,651.68 | [Consolidated Cash Flow Statement](index=48&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 2024, net cash flow from operating activities significantly increased to RMB 33.35 million, while investing and financing activities resulted in net outflows Consolidated Cash Flow Statement Summary | Item | 2024 Half-Year (RMB) | 2023 Half-Year (RMB) | | :--- | :--- | :--- | | **Net Cash Flow from Operating Activities** | 33,351,169.69 | 14,473,646.32 | | **Net Cash Flow from Investing Activities** | -4,433,937.98 | -18,864,620.26 | | **Net Cash Flow from Financing Activities** | -49,645,203.33 | -10,284,510.19 | | **Net Increase in Cash and Cash Equivalents** | -18,805,115.42 | -13,843,160.72 | [Notes to Consolidated Financial Statements](index=100&type=section&id=%E4%B8%83%E3%80%81%E5%90%88%E5%B9%B6%E8%B4%A2%E5%8A%A1%E6%8A%A5%E8%A1%A8%E9%A1%B9%E7%9B%AE%E6%B3%A8%E9%87%8A) This section provides detailed explanations for various items in the consolidated financial statements, including the composition, changes, and impairment of major assets and liabilities, as well as breakdowns of income, costs, and expenses

Group 1 - The A-share photolithography machine (gel) concept has seen a short-term rise, with Dongcai Technology hitting the daily limit and achieving two consecutive boards in three days [1] - Chip Microelectronics has increased by over 8%, indicating strong market interest in the sector [1] - Other stocks such as Yake Technology, Feikai Materials, Shengjian Technology, and Huilun Crystal have also experienced upward movement, reflecting a broader trend in the industry [1]

Core Viewpoint - The PCB sector, particularly companies related to computing power and data centers, is experiencing significant activity, with notable interest from social security funds in specific companies [1]. Group 1: Company Highlights - Guanghe Technology is the leading domestic server PCB supplier in China, with products used in high-performance computing servers, AI computing servers, storage servers, and core data center equipment [3]. - Aoshikang also focuses on PCBs, with applications in data centers, servers, AIPC, communication and network devices, and automotive electronics [10]. Group 2: Fund Holdings - In the first quarter, social security funds made new investments in Guanghe Technology, acquiring approximately 500,000 shares, making it the sixth largest circulating shareholder [4]. - Aoshikang saw new investments from social security funds, with two funds becoming the eighth and ninth largest circulating shareholders [11]. Group 3: Financial Performance - Guanghe Technology has shown consistent revenue growth for eight consecutive years, with a total increase of 130% over the last five years, averaging 26% annually [7]. - The company's net profit, excluding non-recurring items, has surged from 120 million in 2020 to 678 million in 2024, reflecting a 465% increase over five years, averaging close to 100% annual growth [9]. - Aoshikang's revenue growth over five years is 55%, averaging 11% annually, which is lower compared to Guanghe Technology [13]. - Aoshikang's net profit growth is limited, with a forecast of revenue increase without profit growth in 2024, attributed to rising sales expenses [15].

证券代码：300460 证券简称：惠伦晶体 公告编号：2025-042 2、股东累计质押股份情况 广东惠伦晶体科技股份有限公司 关于实际控制人部分股权质押的公告 本公司及董事会全体成员保证提供的信息内容真实、准确、完整， 没有虚假记载、 误导性陈述或重大遗漏。 重要内容提示： •截至本公告披露日，广东惠伦晶体科技股份有限公司（以下简称"公司"） 实际控制人赵积清先生持有的公司股份总数为 15,000,000 股（占公司总股本的 5.34%），累计质押的公司股份为 12,733,800 股（占其所持公司股份总数的 84.89%， 占公司总股本的 4.53%）。 一、股东股份质押基本情况 公司于近日接到公司实际控制人赵积清先生的通知，获悉其所持有公司的部 分股份被质押，具体情况如下： 1、股东股份质押基本情况 | 股东名 称 | 是否为控 股股东或 | 本次质押 | 占其所持 | 占公司总 | 是否 | 是否 为补 | 质押起 | 质押到期 | | 质押 用途 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | 第一大 ...

证券代码：300460 证券简称：惠伦晶体 公告编号：2025-041 广东惠伦晶体科技股份有限公司 2024 年度股东会决议公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚 假记载、误导性陈述或重大遗漏。 特别提示： 1、本次股东会不存在否决议案的情形。 2、本次股东会不涉及变更以往股东会已通过的决议。 一、会议召开和出席情况 （一）会议召开情况 1、会议召开时间： （1）现场会议时间：2025年5月21日（星期三）15:00 （2）网络投票时间：通过深圳证券交易所交易系统进行网络投票的具体时 间为：2025年5月21日上午9:15-9:25、9:30-11:30，下午13:00-15:00；通过深 圳证券交易所互联网投票系统投票的具体时间为：2025年5月21日9:15-15:00。 2、现场会议召开地点：广东省东莞市黄江镇黄江东环路68号公司会议室 3、会议召集人：公司第五届董事会 4、会议主持人：公司董事长赵剑华先生 5、会议召开方式：本次股东会采取现场投票和网络投票相结合的方式召开。 6、本次股东会会议的召集、召开与表决程序符合《中华人民共和国公司法》 《上市公司股东大会规则》 ...

n Law Ultices 中国广东省深圳市福田区金田路 4028 号荣超经贸中心 28、29 层 邮政编码: 518035 28&29 Floor, Landmark, No.4028 Jintian Road, Futian District, Shenzhen 518035, P.R.C. Fax: 0755-33988199 Tel: 0755-33988188 北京市君泽君（深圳）律师事务所 关于广东惠伦晶体科技股份有限公司 2024年度股东会的 法律意见书 致:广东惠伦晶体科技股份有限公司 本所及经办律师依据《证券法》《律师事务所从事证券法律业务管理办法》和 北京 · 深圳· 上海 · 广州·天津·成都 · 南京 · 长沙 · 长春 · 珠海 · 海口· 昆明 · 沈阳· 石家庄 · 郑州 香港 · 南昌 · 杭州 · 济南 · 福州 · 合肥 · 西安 · 大连 · 武汉 lunZelun Law Offices 《律师事务所证券法律业务执业规则(试行)》等规定及本法律意见书出具日以前已 经发生或者存在的事实,严格履行了法定职责,遵循了勤勉尽责和诚实信用原则, 进行了充分的核查验证,保证本法律意 ...

Core Viewpoint - The termination of the share transfer agreement between Huineng Crystal and Zhongzheng Qianyuan Jin Youyuan No. 1 Private Securities Investment Fund highlights the ongoing financial struggles of Huineng Crystal and raises concerns about the future of its actual controller, Zhao Jiqing [2][3][8]. Group 1: Share Transfer Agreement - Huineng Crystal's controlling shareholder, Xinjiang Huineng, and actual controller Zhao Jiqing decided to terminate a previously signed share transfer agreement involving 14.04 million shares, accounting for 5% of the company's total share capital [2]. - The planned share transfer included 9.79 million shares from the controlling shareholder (3.49%), 3.67 million shares from the actual controller (1.31%), and 290,000 shares from the directors (0.10%) [2]. - The private fund had already paid a total of 118 million yuan for the shares, which must be refunded by May 15, 2025, with specific amounts designated for each shareholder [4]. Group 2: Financial Performance and Losses - Huineng Crystal has accumulated losses exceeding 450 million yuan since its listing, with a record loss of 202 million yuan reported in 2024 [2][9]. - The company's revenue has significantly declined from over 400 million yuan annually before its IPO to around 300 million yuan, with net profits turning into substantial losses [9]. - The losses are attributed to poor recovery in the consumer electronics sector, intense market competition, and continuous declines in product sales prices, alongside significant asset impairments [9]. Group 3: Regulatory Issues - The termination of the share transfer agreement coincided with the announcement of an investigation by the China Securities Regulatory Commission (CSRC) into Huineng Crystal and Zhao Jiqing for suspected violations of information disclosure regulations [2][7]. - Following the announcement of the investigation, Huineng Crystal's stock price plummeted, experiencing declines of 20% and 10.31% over two consecutive days [7].

证券代码：300460 证券简称：惠伦晶体 公告编号：2025-040 广东惠伦晶体科技股份有限公司 关于控股股东部分股权质押的公告 本公司及董事会全体成员保证提供的信息内容真实、准确、完整， 没有虚假记载、 误导性陈述或重大遗漏。 重要内容提示： •截至本公告披露日，公司控股股东新疆惠伦股权投资合伙企业（有限合伙） （以下简称"新疆惠伦"）持有的公司股份总数为 40,327,380 股（占公司总股 本的 14.36%），累计质押的公司股份为 30,974,830 股（占其所持公司股份总数 的 76.81%，占公司总股本的 11.03%）。 一、上市公司股份质押 1、本次股份质押基本情况 公司于近日接到公司控股股东新疆惠伦的通知，获悉其所持有公司的部分股 份被质押，具体情况如下： | 股东名 | 是否为控 股股东或 | 本次质押 | 占其所持 | 占公司总 | 是否 | 是否 为补 | 质押起 | 质押到期 | | 质押 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 称 | 第一大股 东及其一 | 数量（股） | ...

证券代码：300460 证券简称：惠伦晶体 公告编号：2025-039 关于股东终止协议转让公司部分股份的公告 公司控股股东、实际控制人、董事韩巧云女士、董事邢越先生及受让方中证乾元金有 缘 1 号私募证券投资基金保证向本公司提供的信息内容真实、准确、完整，没有虚假记载、 误导性陈述或重大遗漏。 广东惠伦晶体科技股份有限公司 3、为保护金有缘 1 号权益，确保新疆惠伦及赵积清向金有缘 1 号及时退还 股份转让价款，新疆惠伦、赵积清同意将其所持有的部分上市公司股份质押给中 证乾元资本管理有限公司（代表金有缘 1 号）。 广东惠伦晶体科技股份有限公司（以下简称"公司"）收到控股股东新疆惠 伦股权投资合伙企业（有限合伙）（以下简称"新疆惠伦"）、实际控制人赵积 清先生、董事韩巧云女士、董事邢越先生的通知，获悉四位股东与中证乾元金有 缘 1 号私募证券投资基金（基金编号为 SLX777，基金管理人为中证乾元资本管 理有限公司，以下简称"金有缘 1 号"）就终止协议转让公司部分股份事宜达成 一致意见，并签署了《股份转让协议之解除协议及还款安排》。现将相关事宜公 告如下: 一、本次协议转让事项概述 公司控股股东新疆惠伦、 ...

Group 1: Company Performance and Financial Status - The company has reported continuous losses for three consecutive years and is taking measures to turn around its performance [3][4] - As of March 31, 2025, the number of shareholders is 34,183, and there are currently no plans for major shareholders to reduce their holdings [5] - The company’s fixed assets decreased by 115 million yuan in 2024, primarily due to depreciation and impairment provisions [6][10] Group 2: Regulatory Investigation and Compliance - The company and its actual controller received a notice of investigation from the China Securities Regulatory Commission (CSRC) on April 24, 2025, and are cooperating with the ongoing investigation [2][4] - The company has not yet received a conclusive opinion or decision from the CSRC regarding the investigation [3][5] Group 3: Market Strategy and Future Plans - The company aims to enhance its core competitiveness and optimize its management efficiency while aligning with market demands to improve operational performance [4][12] - There are plans to introduce external funding to support technological breakthroughs and accelerate the process of domestic substitution [3][4] - The company is focusing on expanding its market presence in various sectors, including communications, automotive electronics, and consumer electronics [12][13] Group 4: Product Development and Industry Position - The company’s products, including SMD resonators and TCXO oscillators, are widely used in various applications, including aerospace and military [7][12] - The company is recognized as a leading manufacturer in the MHz piezoelectric quartz crystal component industry and is classified as a "little giant" in specialized and innovative enterprises [12] - The domestic demand for high-end crystal oscillators is expected to increase, while reliance on foreign products will gradually decrease [10][12]