Financial Performance - Total revenue for Q1 2016 was ¥39,775,660.21, representing a 64.96% increase compared to ¥24,112,034.05 in the same period last year[9] - Net profit attributable to shareholders was -¥21,030,545.37, a slight decline of 3.61% from -¥20,297,285.00 year-over-year[9] - Basic and diluted earnings per share improved by 19.01% to -¥0.328 from -¥0.405 in the same quarter last year[9] - The company's operating revenue for the reporting period is 39,775,660.21 RMB, an increase of 64.96% compared to the same period last year[24] - The company's net profit attributable to shareholders is -21,030,545.37 RMB, indicating a loss, consistent with the previous year's performance[24] - The total comprehensive income for the first quarter was -12,910,849.39 CNY, an improvement from -15,639,995.47 CNY in the previous period[72] Cash Flow and Liquidity - The net cash flow from operating activities was -¥147,938,223.57, which is a 42.89% increase in cash outflow compared to -¥103,532,166.75 in the previous year[9] - Cash and cash equivalents decreased by 32.20% compared to the beginning of the period, primarily due to payments for operational and construction project expenditures[22] - The ending balance of cash and cash equivalents was 154,249,395.91 CNY, down from 231,556,439.76 CNY at the beginning of the period[76] - The company reported a net cash decrease of 77,307,043.85 CNY during the quarter, compared to a decrease of 82,610,726.07 CNY in the previous period[76] Assets and Liabilities - Total assets at the end of the reporting period were ¥693,640,066.96, a 0.80% increase from ¥688,154,627.25 at the end of the previous year[9] - The company's total liabilities increased to ¥367,086,740.27 from ¥339,711,049.11, marking an increase of approximately 8.0%[60] - The company's equity attributable to shareholders decreased to ¥320,350,678.32 from ¥341,381,223.68, a decline of about 6.2%[61] Operational Challenges - The company faces risks from industry policy changes, particularly related to food safety regulations that could impact customer demand[11][12] - Seasonal fluctuations in sales are noted, with Q4 historically accounting for a significant portion of annual revenue, leading to weaker Q1 performance[13] - Rising human resource costs are a concern as the company invests in talent and technology to enhance competitiveness[14] - The company is expanding rapidly, which introduces management risks related to organizational complexity and operational efficiency[15] Shareholder Commitments and Stock Management - The company has not engaged in any repurchase transactions among its top shareholders during the reporting period[19] - The company has committed to not reducing its shareholdings for 36 months following the listing on the Shenzhen Stock Exchange[29] - The actual controller, Zhang Shuhua, has pledged that during his tenure as a director or senior executive, the annual transfer of shares will not exceed 25% of his total holdings[30] - The company will not engage in any share reduction activities, including signing transfer agreements or equity custody, for 12 months after the IPO[32] - The company intends to implement stock repurchase measures to stabilize its stock price, using self-owned funds for the repurchase[42] Investment and Project Management - The total amount of raised funds is 14,370.57 million CNY, with 2,108.98 million CNY invested in the current quarter[50] - Cumulative investment of raised funds reached 10,358 million CNY, accounting for 72.05% of the total raised funds[50] - The project "Digital Archive Information Resource Management System" has a cumulative investment of 1,506.6 million CNY, achieving 61.02% of its planned investment[50] - The project "Food Circulation Safety Traceability Archive Management Software" has a cumulative investment of 1,213.56 million CNY, achieving 44.75% of its planned investment[50] - The company has completed the repayment of bank loans amounting to 6,500 million CNY, achieving 100% of the planned repayment[50] Compliance and Governance - The company has no reported violations regarding external guarantees during the reporting period[53] - There were no non-operating fund occupations by controlling shareholders or related parties during the reporting period[54] - The company has fulfilled its commitments on time, with no overdue obligations reported[48]

Financial Performance - The company's operating revenue for 2015 was ¥437,900,031.09, representing an increase of 18.89% compared to ¥368,328,787.20 in 2014[26]. - The net profit attributable to shareholders for 2015 was ¥38,242,426.34, an increase of 8.21% from ¥35,339,310.97 in 2014[26]. - The net profit after deducting non-recurring gains and losses decreased by 20.85% to ¥23,336,861.59 from ¥29,485,324.30 in 2014[26]. - The total assets at the end of 2015 were ¥688,154,627.25, a significant increase of 62.19% from ¥424,281,651.77 at the end of 2014[26]. - The net assets attributable to shareholders increased by 114.12% to ¥341,381,223.68 from ¥159,433,100.85 in 2014[26]. - The company reported a negative net cash flow from operating activities of ¥32,441,522.12, a decline of 446.42% compared to ¥9,364,887.71 in 2014[26]. - The company achieved a revenue of 438 million yuan in 2015, representing an 18.89% increase compared to the previous year[45]. - The net profit attributable to shareholders was 38.24 million yuan, reflecting an 8.21% growth year-on-year[45]. Market Position and Expansion - The company secured a market share of approximately 38.8% in the food traceability sector, ranking first nationally[46]. - In the archives informationization sector, the company has a market share of 60%, having served 21 out of 35 central and provincial archive bureaus[47]. - The company established 26 branches across 23 provinces, enhancing its market presence[39]. - The company added 504 new clients in 2015, indicating strong market expansion efforts[40]. - Revenue from the food circulation traceability system increased by 48.36% to ¥145,851,833.81, accounting for 33.31% of total revenue[59]. - Revenue from the East China region accounted for 69.20% of total revenue, with a 23.50% increase from the previous year[59]. Research and Development - The company holds 7 patents and 183 software copyrights, showcasing its strong R&D capabilities and commitment to innovation[36]. - The company plans to continue investing in R&D and enhancing its development team to maintain its competitive edge in the information technology sector[36]. - The company has developed advanced R&D models, including the "Product Garden Model" and "Software Factory Model," to enhance innovation and efficiency[41]. - In 2015, the company's total R&D investment reached CNY 44.87 million, accounting for 10.25% of operating revenue, a 32.11% increase year-on-year[68]. Operational Challenges and Risks - The company faces risks related to rising human resource costs due to increased investment in R&D and competition for talent[10]. - The company acknowledges the risk of management challenges due to rapid growth and the need for effective organizational adjustments[11]. - The company has optimized its organizational structure to improve management and operational efficiency[49]. - The company has not experienced significant bad debt losses historically, indicating a reliable customer base primarily composed of government agencies and large enterprises[14]. Governance and Shareholder Commitments - The company has commitments from major shareholders, including a promise from the controlling shareholder to not reduce their holdings in the company for a period of 36 months following the listing date[100]. - The controlling shareholder, Zhang Shuhua, committed to not transferring more than 25% of their shares annually during their tenure as a director or senior executive[101]. - The company has a lock-up period of six months for shares held by major shareholders post-IPO, during which no transfers or repurchases of shares will occur[102]. - The company plans to maintain its current shareholder structure and commitments for at least 12 months following the IPO[105]. Dividend Distribution - The company plans to distribute a cash dividend of ¥2 per 10 shares (including tax) based on a total of 66,800,000 shares[15]. - In 2015, the company distributed a cash dividend of 2 CNY per 10 shares, totaling 13,360,000 CNY, which represents 100% of the total profit distribution[97]. - The cash dividend accounted for 34.94% of the net profit attributable to the company's ordinary shareholders, which was 38,242,426.34 CNY in 2015[99]. Compliance and Integrity - The company has maintained a clean integrity status with no issues reported during the period[132]. - The company strictly adheres to information disclosure regulations, ensuring timely and accurate information dissemination[190]. - The governance structure complies with the standards set by the China Securities Regulatory Commission, with no significant discrepancies noted[191]. - The company has not experienced any major litigation or arbitration matters during the reporting period[124]. Employee and Management Structure - The total number of employees is 1,422, with 875 in the parent company and 547 in major subsidiaries[182]. - The professional composition includes 316 production personnel, 155 sales personnel, and 804 technical personnel[182]. - The company emphasizes a performance-based compensation system, linking salaries to job performance to enhance employee satisfaction[184]. - The total remuneration for the board of directors, supervisors, and senior management in 2015 was CNY 4.2076 million[181].

Financial Performance - Net profit attributable to shareholders increased by 93.21% to CNY 9,923,466.71 for the reporting period[8] - Basic earnings per share rose by 112.50% to CNY 0.187[8] - Total operating revenue decreased by 5.56% to CNY 87,783,315.44 compared to the same period last year[8] - The company reported a significant increase in net assets attributable to shareholders, rising by 88.68% to CNY 300,821,506.09[8] - The weighted average return on equity improved to 2.83%, an increase of 80.22% compared to the previous year[8] - Operating profit for the current period is CNY 13,665,258.16, significantly up from CNY 4,509,056.26 in the previous period, representing an increase of approximately 203.5%[52] - Net profit for the current period is CNY 12,507,475.61, compared to CNY 4,422,740.11 in the previous period, marking an increase of around 182.5%[52] Assets and Liabilities - Total assets increased by 51.53% to CNY 642,916,033.37 compared to the end of the previous year[8] - Total liabilities increased to ¥332,502,399.57 from ¥257,771,498.49, which is an increase of about 29%[45] - The company's equity attributable to shareholders rose to ¥300,821,506.09 from ¥159,433,100.85, showing an increase of approximately 88.5%[46] - Current assets total CNY 528,610,636.14, increasing from CNY 329,100,619.29, which is a rise of about 60.7%[48] - The total liabilities at the end of the period are CNY 384,068,638.62, up from CNY 312,396,142.94, which is an increase of about 22.9%[49] Cash Flow - The company experienced a net cash flow from operating activities of -CNY 204,098,987.02, a decrease of 52.21% year-on-year[8] - Cash inflow from operating activities totaled ¥128,605,265.92, down 24% from ¥169,124,398.96 in the previous period[67] - Cash outflow from operating activities was ¥332,704,252.94, an increase of 10% compared to ¥302,045,111.43 in the previous period[68] - Net cash flow from financing activities was ¥233,552,344.12, compared to ¥60,152,641.13 in the previous period, indicating strong financing support[68] - The net increase in cash and cash equivalents was ¥26,639,957.15, recovering from a decrease of -¥107,225,769.41 in the previous period[68] Employee and Operational Changes - The company hired 337 new employees by September 30, 2015, to support its rapid business development[14] - Employee compensation payments increased to ¥136,159,357.17, up from ¥94,890,504.90 in the previous period, reflecting higher labor costs[67] Market and Business Development - The company faces risks related to seasonal fluctuations in sales revenue, with a significant portion of revenue recognized in the fourth quarter[11] - New regulations on food safety tracking create opportunities for the company's food traceability business[18] - The company is actively expanding its market presence beyond the East China region, particularly in Shanghai, Jiangsu, and Anhui provinces[28] - The overall level of informationization in enterprises and institutions is improving, leading to increased investment in archive information resource management[28] Shareholder Commitments and Stock Management - The company reported a commitment from shareholders to not reduce their holdings of shares issued prior to the public offering for a period of 12 months post-listing[33] - Shareholders, including major investors, have pledged to limit their share reduction to a maximum of 40% of their holdings within two years after the lock-up period[34] - The company plans to implement measures to stabilize its stock price, including potential stock buybacks and support from major shareholders[34] - The lock-up period for shares will automatically extend by six months if the stock price falls below the offering price for 20 consecutive trading days[33] - The company has established a three-year stock price stabilization plan effective from the date of its initial public offering[34] Investment and Fund Utilization - The total amount of raised funds is CNY 14,370.57 million, with CNY 900 million invested in the current quarter[38] - Cumulative investment of raised funds amounts to CNY 1,618.87 million, with no changes in the use of raised funds reported[38] - The digital archive information resource management system project has a total investment commitment of CNY 4,899 million, with CNY 918.87 million invested to date, achieving 18.76% of the expected benefits[38] - The company has committed to not changing the use of raised funds, with a cumulative change ratio of 0.00%[38]

Financial Performance - Total operating revenue for the first half of 2015 was ¥134,069,860.33, representing a 66.87% increase compared to ¥80,343,863.81 in the same period last year[17] - Net profit attributable to ordinary shareholders was a loss of ¥12,240,757.96, an improvement of 12.31% from a loss of ¥13,958,632.57 in the previous year[17] - The company reported an operating loss of CNY -15,079,504.17, a reduction in loss by 31.19% compared to the previous year[31] - The company reported a total comprehensive loss of CNY 12.31 million for the first half of 2015, compared to a loss of CNY 14.28 million in the same period of 2014[111] - The net loss for the first half of 2015 was CNY 12.31 million, compared to a net loss of CNY 14.28 million in the same period of 2014, showing an improvement of 13.8%[111] Cash Flow - The net cash flow from operating activities was a negative ¥158,681,564.08, which is a 47.62% decline compared to a negative ¥107,491,719.82 in the same period last year[17] - Cash inflow from operating activities was CNY 64.46 million, down from CNY 102.65 million in the previous year, indicating a decrease of 37.1%[117] - The company reported a total cash outflow from investing activities of 1,705,090.72 CNY, down from 33,868,483.00 CNY in the previous period, indicating a decrease of approximately 95%[118] - The company’s net cash increase for the period was 45,344,344.71 CNY, contrasting with a decrease of 89,053,512.80 CNY in the previous period[119] - The net cash flow from financing activities was 205,730,999.51 CNY, compared to 52,305,480.02 CNY in the previous period, reflecting an increase of approximately 292.5%[119] Assets and Liabilities - Total assets increased by 36.40% to ¥578,724,162.19 from ¥424,281,651.77 at the end of the previous year[17] - The total liability of ¥280,818,004.36, up from ¥257,771,498.49, indicating an increase of about 8.9%[102] - Current liabilities rose to ¥275,378,254.35 from ¥252,317,498.48, an increase of about 9.9%[102] - The company reported cash and cash equivalents of ¥165,909,271.04 at the end of the period, an increase from ¥122,217,029.83 at the beginning[100] - The total owner's equity attributable to the parent company reached ¥290,898,039.38, compared to ¥159,433,100.85, an increase of about 82.5%[103] Market and Customer Insights - New contracts signed in the first half of 2015 amounted to CNY 199.04 million, representing a growth of 146.4% year-on-year[35] - The top five customers accounted for 57.99% of total operating revenue, with the largest customer contributing CNY 34,587,426.22, or 25.80%[41] - The company achieved a market coverage rate of 37.2% in the food traceability system, successfully winning bids in 16 out of 43 pilot cities[44] - The company is focusing on the development of information systems for archives, food traceability, and legal sectors, indicating a strategic market expansion[34] Investment and R&D - Research and development investment increased by 35.29% to CNY 20,992,230.05, reflecting the company's commitment to product innovation[33] - The company is committed to strictly following the investment plan for fundraising projects to generate benefits as soon as possible[24] - The total amount of raised funds invested during the reporting period was 14,370.57 million CNY, with 718.87 million CNY already utilized[50] Corporate Governance and Shareholder Information - The company plans not to distribute cash dividends or issue bonus shares for the reporting period[6] - The company did not distribute cash dividends or issue bonus shares in the previous year, and there is no proposal for cash dividend distribution in the current reporting period despite positive retained earnings[62] - The total number of shares remained at 50,100,000 before the current changes, with no new shares issued or capital reserves converted into shares[87] - The company’s total shares after the current changes are 66,800,000, with 25% being unrestricted shares[87] - The largest shareholder, Shanghai CITIC Information Development Co., Ltd., holds 31.80% of shares, totaling 21,242,400 shares, which are frozen[89] Operational Challenges - The company faces seasonal sales fluctuations, with higher revenue typically recognized in the second half of the year due to budget approvals and procurement cycles[22] - The company faced significant pressure regarding the stability of core technical personnel, despite efforts to enhance corporate culture and benefits[28] Compliance and Regulatory Matters - There were no significant litigation or arbitration matters during the reporting period[65] - The company did not engage in any major non-raised fund investments during the reporting period[55] - The financial report for the first half of 2015 was not audited[98] Accounting Policies and Practices - The company follows specific accounting treatments for mergers and acquisitions, distinguishing between same-control and non-same-control transactions[152] - The company recognizes income from disposed subsidiaries up to the disposal date in the consolidated profit statement[157] - The company assesses the impairment of receivables individually for amounts over 500,000 RMB, with specific provisions based on future cash flow estimates[174] - The company uses the lower of cost or net realizable value to determine inventory impairment, adjusting provisions as necessary[179]

Financial Performance - Net profit attributable to shareholders reached ¥9,923,466.71, a 93.21% increase year-on-year[8] - Basic earnings per share rose to ¥0.187, reflecting a 112.50% increase compared to the same period last year[8] - Total operating revenue for the period was ¥87,783,315.44, down 5.56% from the previous year[8] - The company reported a net cash flow from operating activities of -¥204,098,987.02, a decrease of 52.21% year-on-year[8] - The weighted average return on equity was 2.83%, a decrease of 35.44% compared to the previous year[8] - Operating profit for the current period is CNY 13,665,258.16, significantly higher than CNY 4,509,056.26 in the previous period, representing an increase of approximately 203.5%[52] - Net profit for the current period is CNY 12,507,475.61, compared to CNY 4,422,740.11 in the previous period, showing an increase of around 182.5%[52] - Total operating revenue for the third quarter reached CNY 221,853,175.77, an increase of 27.9% compared to CNY 173,296,907.97 in the same period last year[59] - Net profit for the third quarter was CNY 8,977,458.99, slightly higher than CNY 8,859,837.98 in the previous year, reflecting a growth of 1.3%[56] Assets and Liabilities - Total assets increased to ¥642,916,033.37, a 51.53% increase compared to the previous year[8] - The total liabilities of the company reached CNY 332,502,399.57, up from CNY 257,771,498.49, which is an increase of about 29%[45] - The equity attributable to the owners of the parent company increased to CNY 300,821,506.09 from CNY 159,433,100.85, representing a growth of approximately 88.5%[46] - Current assets total CNY 528,610,636.14, which is an increase from CNY 329,100,619.29 at the beginning of the period, reflecting a growth of about 60.7%[48] - Current liabilities increased to CNY 379,168,638.62 from CNY 307,496,142.94, indicating a rise of approximately 23.3%[49] Cash Flow - Cash inflow from operating activities totaled ¥128,605,265.92, down 24% from ¥169,124,398.96 in the previous period[67] - Cash outflow from operating activities increased to ¥332,704,252.94, compared to ¥302,045,111.43 in the prior period, resulting in a net cash flow from operating activities of -¥204,098,987.02[68] - Cash inflow from financing activities was ¥358,138,000.00, significantly higher than ¥125,000,000.00 in the previous period, leading to a net cash flow from financing activities of ¥233,552,344.12[68] - The company reported a net increase in cash and cash equivalents of ¥26,639,957.15, contrasting with a decrease of -¥107,225,769.41 in the prior period[68] - The ending balance of cash and cash equivalents reached ¥136,198,034.91, compared to ¥7,414,958.30 at the end of the previous period[68] Employee and Operational Changes - The company hired 337 new employees by September 30, 2015, to support business growth[14] - Employee compensation payments rose to ¥136,159,357.17, up from ¥94,890,504.90 in the previous period, indicating increased labor costs[67] Market and Strategic Developments - The implementation of new food safety laws creates opportunities for the company's food traceability business[18] - The company faces risks related to seasonal fluctuations in sales revenue, particularly concentrated in the fourth quarter[11] - The company is actively expanding its market presence beyond the East China region, particularly in Shanghai, Jiangsu, and Anhui provinces[28] - The overall level of informationization among enterprises and institutions in China is increasing, leading to greater emphasis on archive information resource management[28] Shareholder Commitments and Governance - The company reported a commitment from shareholders to not reduce their holdings of shares for a period of 12 months post-listing, ensuring stability in share prices[33] - Major shareholders, including CITIC Electronics, pledged to limit their share reduction to no more than 40% of their holdings within two years after the lock-up period[34] - The company plans to implement measures to stabilize share prices, including stock buybacks and potential increases in shareholdings by major shareholders[34] - The lock-up period for shares will automatically extend by six months if the stock price falls below the issue price for 20 consecutive trading days[33] - The company aims to maintain a robust governance structure during the share reduction process, ensuring transparency and compliance with regulations[34] Investment and Fund Utilization - The total amount of raised funds is CNY 14,370.57 million, with CNY 900 million invested in the current quarter[38] - Cumulative investment of raised funds amounts to CNY 1,618.87 million, with no changes in the use of raised funds reported[38] - The digital archive information resource management system project has a total investment commitment of CNY 4,899 million, with CNY 918.87 million (18.76%) utilized as of June 10, 2017[38] - The company has committed to stabilizing its stock price through various measures, including stock repurchase and shareholding increases by key stakeholders[35]

Financial Performance - Total operating revenue for the first half of 2015 was ¥134,069,860.33, representing a 66.87% increase compared to ¥80,343,863.81 in the same period last year[17]. - Net profit attributable to shareholders was a loss of ¥12,240,757.96, an improvement of 12.31% from a loss of ¥13,958,632.57 in the previous year[17]. - The company reported an operating loss of CNY -15,079,504.17, a decrease in loss by 31.19% compared to the previous year[31]. - The company reported a total comprehensive income for the period was a loss of CNY 14,278,624.06, indicating a significant decline in profitability[128]. - The company reported a decrease in minority shareholders' losses to CNY -68,933.97 from CNY -319,991.49 year-over-year[111]. Cash Flow and Liquidity - The net cash flow from operating activities was a negative ¥158,681,564.08, which is a decline of 47.62% compared to a negative ¥107,491,719.82 in the same period last year[17]. - The company’s cash flow from financing activities was CNY 205,730,999.51, a significant increase of 293.33% due to new stock issuance[33]. - The total cash inflow from financing activities increased to 267,138,000.00 CNY, up from 90,000,000.00 CNY, representing a growth of 196.8%[119]. - The total cash and cash equivalents at the end of the period reached 154,902,422.47 CNY, a significant increase from 23,587,214.91 CNY in the previous period[119]. - The company’s operating cash flow was CNY -158,681,564.08, indicating a 47.62% increase in cash outflow compared to the previous year[33]. Assets and Liabilities - Total assets increased by 36.40% to ¥578,724,162.19 from ¥424,281,651.77 at the end of the previous year[17]. - Total liabilities increased to ¥280,818,004.36, compared to ¥257,771,498.49, reflecting a growth of approximately 8.3%[102]. - Current assets rose to ¥520,476,272.93 from ¥368,178,351.51, marking an increase of about 41.3%[101]. - Total owner's equity surged to ¥297,906,157.83 from ¥166,510,153.28, indicating a significant increase of around 79.0%[103]. - The company reported cash and cash equivalents of ¥165,909,271.04 at the end of the period, an increase from ¥122,217,029.83 at the beginning[100]. Revenue and Contracts - New contracts signed in the first half of 2015 amounted to CNY 199.04 million, an increase of 146.4% year-on-year[35]. - The company’s top five customers accounted for 57.99% of total revenue, with the largest customer contributing CNY 34,587,426.22, or 25.80% of total revenue[41]. - The gross margin for application software development and sales was 63.84%, showing an increase of 6.44% year-on-year[37]. - Revenue from application software development is recognized upon project completion and acceptance by the client[148]. - Technical support and service revenue is recognized over the service period as per the contract terms[148]. Investment and R&D - Research and development investment reached CNY 20,992,230.05, up 35.29% from the previous year, reflecting increased focus on product innovation[33]. - The company aims to strictly follow the investment plan for fundraising projects to generate benefits as soon as possible[24]. - The total amount of raised funds invested during the reporting period was approximately 143.71 million yuan, with a cumulative investment of 71.89 million yuan[50]. - The company is actively protecting its intellectual property and has established comprehensive technical confidentiality measures[28]. - The company is focusing on improving its financial performance and addressing the decline in comprehensive income through strategic initiatives[132]. Shareholder Information - The total number of shares before the change was 50,100,000, and after the change, it increased to 66,800,000 due to the issuance of new shares[87]. - The largest shareholder, Shanghai CITIC Information Development Co., Ltd., holds 31.80% of shares, totaling 21,242,400 shares, which are frozen[89]. - The company had no changes in the number of shareholders or shareholding structure during the reporting period[88]. - Total number of shareholders at the end of the reporting period is 27,123[89]. - The company did not engage in any significant non-raised fund investments during the reporting period[55]. Compliance and Governance - The half-year financial report was not audited[82]. - There were no significant litigation or arbitration matters during the reporting period[65]. - The company did not acquire or sell any assets during the reporting period[66][67]. - The company did not engage in any related party transactions during the reporting period[70][72]. - The company confirms its ability to continue as a going concern for at least 12 months from the reporting date[146]. Accounting Policies - The financial statements are prepared in accordance with the accounting standards issued by the Ministry of Finance[149]. - The company uses Renminbi as its functional currency for accounting purposes[151]. - The company recognizes revenue from system integration projects upon delivery and acceptance of software and hardware by the client[148]. - The company adjusts the consolidated financial statements based on the accounting policies and periods of its subsidiaries to ensure consistency[154]. - The company recognizes long-term equity investments from the purchase of minority stakes, adjusting the capital reserve in the consolidated balance sheet based on the net asset share from the purchase date[159].