证券代码：300680 证券简称：隆盛科技 公告编号：2025-043 无锡隆盛科技股份有限公司 关于变更注册资本、调整组织架构、修订<公司章程>及制定、 修订公司部分治理制度的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、 误导性陈述或重大遗漏。 1 规则》将相应废止。同时，结合公司董事会人员构成情况，公司拟将董事会人数由 7 名调整为 8 名，其中独立董事 3 名不变，非独立董事增加 1 名职工代表董事，由 4 名 增加至 5 名。 无锡隆盛科技股份有限公司（以下简称"公司"）于 2025 年 8 月 28 日召开第五 届董事会第九次会议，审议通过了《关于变更注册资本、调整组织架构并修订<公司 章程>的议案》、《关于制定、修订公司部分治理制度的议案》，现将相关情况公告 如下： 一、变更公司注册资本情况 公司于 2024 年 11 月 27 日召开第五届董事会第四次会议，并于 2024 年 12 月 16 日召开 2024 年第二次临时股东大会，审议通过了《关于回购公司股份方案的议案》， 同意公司使用自有资金和股票回购专项贷款以集中竞价方式回购公司已发行的人民 币普通股（A ...

无锡隆盛科技股份有限公司 2025 年半年度非经营性资金占用及其他关联资金往来情况汇总表 编制：无锡隆盛科技股份有限公司 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 — — — — 其他关联 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 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 往来形成原因 往来性质 控股股东、实际控制 人及其附属企业 上市 ...

为使投资者全面了解公司2025年半年度的经营成果及财务状况等，公司2025年 半年度报告及其摘要于2025年8月29日在巨潮资讯网（www.cninfo.com.cn）上披露， 敬请投资者注意查阅。 无锡隆盛科技股份有限公司 2025 年半年度报告披露的提示性公告 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。 证券代码：300680 证券简称：隆盛科技 公告编号：2025-039 无锡隆盛科技股份有限公司（以下简称"公司"）于2025年8月28日召开第五届 董事会第九次会议，审议通过了《关于公司<2025年半年度报告全文及摘要>的议案》。 无锡隆盛科技股份有限公司 董事会 2025年8月29日 ...

1、股东大会届次：2025年第一次临时股东大会。 2、股东大会召集人：公司董事会，经公司第五届董事会第九次会议审议通过， 公司董事会决定召开2025年第一次临时股东大会。 3、会议召开的合法、合规性：会议召集程序符合有关法律、行政法规、部门规 章、规范性文件和公司章程的规定。 4、会议召开的日期、时间： 证券代码：300680 证券简称：隆盛科技 公告编号：2025-042 无锡隆盛科技股份有限公司 关于召开 2025 年第一次临时股东大会的通知 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。 无锡隆盛科技股份有限公司（以下简称"公司"）第五届董事会第九次会议决定 于2025年9月15日召开公司2025年第一次临时股东大会，现将本次会议的有关事项通 知如下： 一、召开会议的基本情况： （2）网络投票：公司将通过深圳证券交易所交易系统和互联网投票系统向股东 提供网络形式的投票平台，公司股东应在本通知列明的有关时限内通过深圳证券交易 所的交易系统或互联网投票系统进行网络投票。公司股东只能选择上述投票方式中的 一种表决方式，如同一表决权出现重复投票表决的，以第一次有 ...

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。 一、监事会会议召开情况 2025 年 8 月 28 日，无锡隆盛科技股份有限公司（以下简称"公司"）第五届监 事会第九次会议在公司会议室以现场会议的方式召开，会议通知于 2025 年 8 月 18 日 以书面通知等方式向各位监事发出。本次会议由监事会主席沈家湖先生召集、主持， 会议应出席监事三名，实际出席监事三名。 证券代码：300680 证券简称：隆盛科技 公告编号：2025-041 无锡隆盛科技股份有限公司 第五届监事会第九次会议决议公告 1、审议通过《关于公司<2025 年半年度报告全文及摘要>的议案》 经审核，监事会认为：董事会编制和审核公司 2025 年半年度报告全文及其摘要的程 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、完整地反映了公司 2025 年上半年经营的实际情况，不存在任何虚假记载、误导性陈述或者重大遗漏。具体内容详 见公司刊载于巨潮资讯网(www.cninfo.com.cn)上的相关公告。 表决结果：3 票同意、0 票反对、0 票弃权，本议案获表决通过。 特此公告。 无锡隆 ...

证券代码：300680 证券简称：隆盛科技 公告编号：2025-040 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、 误导性陈述或重大遗漏。 一、董事会会议召开情况 2025 年 8 月 28 日，无锡隆盛科技股份有限公司（以下简称"公司"）第五届董 事会第九次会议在公司会议室以现场及通讯会议的方式召开，会议通知于 2025 年 8 月 18 日以书面通知等方式向各位董事发出。本次会议由董事长倪铭先生召集并主持， 会议应出席董事七名，实际出席董事七名。公司监事及高级管理人员列席本次会议。 无锡隆盛科技股份有限公司 第五届董事会第九次会议决议公告 本议案已经公司董事会审计委员会审议通过，具体内容详见公司刊载于巨潮资讯 网(www.cninfo.com.cn)上的公告。 表决结果：7 票同意、0 票反对、0 票弃权，本议案获表决通过。 本次会议的召集、召开符合《中华人民共和国公司法》（以下简称"公司法"） 及有关法律、法规、规章、规范性文件及《公司章程》的有关规定。 2、审议通过《关于变更注册资本、调整组织架构并修订<公司章程>的议案》 二、董事会会议审议情况 经与会董事审议，以投票表 ...

[Important Notices, 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 Notices](index=2&type=section&id=%E9%87%8D%E8%A6%81%E6%8F%90%E7%A4%BA) The company's management guarantees the authenticity and completeness of the semi-annual report and plans no dividend distribution for the period - The Board of Directors, Supervisory Committee, and senior management guarantee the truthfulness, accuracy, and completeness of the semi-annual report's content, and bear individual and joint legal responsibility[3](index=3&type=chunk) - The company's responsible person Ni Ming, chief accountant Xu Xing, and head of the accounting department Xu Xing declare the truthfulness, accuracy, and completeness of the financial report[3](index=3&type=chunk) - The company **does not plan to distribute cash dividends, issue bonus shares, or convert capital reserves into share capital**[4](index=4&type=chunk) [Table of Contents](index=3&type=section&id=%E7%9B%AE%E5%BD%95) This report's table of contents provides a comprehensive index covering eight main sections, including company profile and financial analysis - The report's table of contents includes key sections such as Company Profile, Management Discussion and Analysis, Corporate Governance, and Financial Report[7](index=7&type=chunk) [List of Documents for Inspection](index=4&type=section&id=%E5%A4%87%E6%9F%A5%E6%96%87%E4%BB%B6%E7%9B%AE%E5%BD%95) The list of documents for inspection includes signed financial statements and the original semi-annual report, available at the company's securities department - Documents for inspection include signed and sealed financial statements, the original semi-annual report signed by the legal representative, and all original company documents and announcements disclosed during the reporting period[9](index=9&type=chunk)[10](index=10&type=chunk)[11](index=11&type=chunk) - The location for inspecting these documents is the company's Securities Department office[12](index=12&type=chunk) [Definitions](index=5&type=section&id=%E9%87%8A%E4%B9%89) This section defines key terms used in the report, including organizational structures, product technologies, and financial periods for accurate interpretation - The reporting period refers to January-June 2025[14](index=14&type=chunk) - The EGR (Exhaust Gas Recirculation) system primarily aims to reduce nitrogen oxides in diesel engine exhaust and lower fuel consumption in gasoline engines[14](index=14&type=chunk) - The harmonic reducer is a key component connecting the power source and the execution structure, featuring a large transmission ratio, high precision, small size, and light weight[16](index=16&type=chunk) [Company Profile and Key Financial Indicators](index=7&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=7&type=section&id=%E4%B8%80%E3%80%81%E5%85%AC%E5%8F%B8%E7%AE%80%E4%BB%8B) Wuxi Lonsen Technology Co, Ltd (stock code: 300680) is listed on the ChiNext market of the Shenzhen Stock Exchange, with Ni Ming as the legal representative - The company's stock short name is Lonsen Technology, stock code 300680, listed on the ChiNext market of the Shenzhen Stock Exchange[18](index=18&type=chunk) - The company's legal representative is Ni Ming[18](index=18&type=chunk) [II. Contact Persons and Methods](index=7&type=section&id=%E4%BA%8C%E3%80%81%E8%81%94%E7%B3%BB%E4%BA%BA%E5%92%8C%E8%81%94%E7%B3%BB%E6%96%B9%E5%BC%8F) The company's Board Secretary is Xu Xing and the Securities Affairs Representative is Bian Lili, with the contact email zqb@china-lsh.com - The Board Secretary is Xu Xing, and the Securities Affairs Representative is Bian Lili[19](index=19&type=chunk) - The contact address is 99 Zhujiang Road, Xinwu District, Wuxi City, and the email address is zqb@china-lsh.com[19](index=19&type=chunk) [III. Other Information](index=7&type=section&id=%E4%B8%89%E3%80%81%E5%85%B6%E4%BB%96%E6%83%85%E5%86%B5) No changes occurred in the company's contact information, information disclosure locations, or registration details during the reporting period - The company's registered address, office address, website, and email address remained unchanged during the reporting period[20](index=20&type=chunk) - The locations for information disclosure and document inspection remained unchanged during the reporting period[21](index=21&type=chunk) - The company's registration details remained unchanged during the reporting period[22](index=22&type=chunk) [IV. Key Accounting Data and Financial Indicators](index=8&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 H1 2025, revenue grew 15.44% to ¥1.224 billion, while net operating cash flow significantly decreased by 76.85% due to increased material prepayments Key Accounting Data and Financial Indicators for H1 2025 | Indicator | Current Period (Yuan) | Prior Year Period (Yuan) | Change (%) | | :--- | :--- | :--- | :--- | | Operating Revenue | 1,224,074,983.38 | 1,060,331,054.82 | 15.44% | | Net Profit Attributable to Shareholders | 104,730,780.26 | 103,303,736.03 | 1.38% | | Net Profit Attributable to Shareholders (Excluding Non-recurring Items) | 100,072,480.79 | 95,647,386.37 | 4.63% | | Net Cash Flow from Operating Activities | 29,763,191.55 | 128,553,482.84 | -76.85% | | Basic Earnings Per Share (Yuan/Share) | 0.4533 | 0.4472 | 1.36% | | Diluted Earnings Per Share (Yuan/Share) | 0.4533 | 0.4472 | 1.36% | | Weighted Average Return on Equity | 5.29% | 5.79% | -0.50% | | **End of Current Period** | **End of Prior Year** | **Change (%)** | | Total Assets | 4,074,847,728.72 | 3,999,757,536.93 | 1.88% | | Net Assets Attributable to Shareholders | 1,910,286,870.48 | 1,927,733,863.84 | -0.91% | - Net cash flow from operating activities **decreased by 76.85%** year-on-year, primarily due to an increase in prepayments for materials during the reporting period[23](index=23&type=chunk) [V. Differences in Accounting Data under Domestic and Foreign Accounting Standards](index=8&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) There were no discrepancies in net profit or net assets between financial reports prepared under Chinese and international or foreign accounting standards - The company has no discrepancies in net profit and net assets between financial reports disclosed under international accounting standards and Chinese accounting standards[24](index=24&type=chunk) - The company has no discrepancies in net profit and net assets between financial reports disclosed under foreign accounting standards and Chinese accounting standards[25](index=25&type=chunk) [VI. Non-recurring Profit and Loss Items and Amounts](index=8&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) Non-recurring profit and loss for the period totaled ¥4.66 million, mainly from government grants and fair value changes of financial assets Non-recurring Profit and Loss Items and Amounts | Item | Amount (Yuan) | | :--- | :--- | | Gains and Losses on Disposal of Non-current Assets | -170.95 | | Government Grants Included in Current Profit or Loss | 2,558,453.22 | | Fair Value Gains/Losses from Financial Assets and Liabilities, and Disposal Gains/Losses | 3,435,625.39 | | Other Non-operating Income and Expenses | -248,777.69 | | Less: Income Tax Impact | 885,553.94 | | Less: Minority Interest Impact (After Tax) | 201,276.56 | | Total | 4,658,299.47 | - The company has not classified any non-recurring profit and loss items listed in the "Explanatory Announcement No. 1 on Information Disclosure for Companies Offering Securities to the Public - Non-recurring Profit and Loss" as recurring items[28](index=28&type=chunk) [Management Discussion and Analysis](index=10&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. Principal Business Activities During the Reporting Period](index=10&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's core business in automotive parts drove revenue growth of 15.44%, while it strategically expanded into aerospace and humanoid robotics - The company's core business matrix includes the Exhaust Gas Recirculation (EGR) system, new energy vehicle drive motor stator cores, and automotive precision components[30](index=30&type=chunk) - The company is actively expanding into the aerospace and low-altitude economy industrial chains, as well as the humanoid robot sector, establishing a strong industrial advantage[30](index=30&type=chunk) - During the reporting period, the company achieved **operating revenue of ¥1,224.08 million**, a year-on-year **increase of 15.44%**, and net profit attributable to shareholders of ¥104.73 million, a year-on-year increase of 1.38%[43](index=43&type=chunk) - The company has established a clear three-curve growth matrix: strengthening the EGR system business, expanding the new energy and precision components segments, and strategically developing the aerospace and humanoid robot segments[43](index=43&type=chunk) [(I) Industry Situation](index=10&type=section&id=(%E4%B8%80)%20%E8%A1%8C%E4%B8%9A%E6%83%85%E5%86%B5) In H1 2025, China's auto market saw significant growth driven by new energy vehicles, while commercial aerospace and robotics emerged as new growth engines - In the first half of 2025, China's auto production and sales both **exceeded 15 million units** for the first time, reaching 15.621 million and 15.653 million units respectively, with year-on-year growth of over 10%[31](index=31&type=chunk) - New energy vehicle production and sales reached 6.968 million and 6.937 million units, with **year-on-year increases of 41.4% and 40.3%**, accounting for 44.3% of total auto sales[32](index=32&type=chunk) - In the first half of the year, auto exports reached 3.083 million units, a year-on-year increase of 10.4%, with new energy vehicle exports **surging by 75.2%** to 1.06 million units[33](index=33&type=chunk) - Domestic brands sold a cumulative 9.27 million vehicles in the first half of the year, a **25% year-on-year increase**, with a market share of 68.5%[33](index=33&type=chunk) - The 2025 government work report identified "commercial aerospace," "low-altitude economy," and "intelligent robotics" as future new growth engines for China[35](index=35&type=chunk) [(II) Main Product Information](index=11&type=section&id=(%E4%BA%8C)%20%E4%B8%BB%E8%A6%81%E4%BA%A7%E5%93%81%E6%83%85%E5%86%B5) The company's product portfolio spans EGR systems, NEV motor cores, and precision parts, with expansion into aerospace and humanoid robotics components - The company focuses on three core business segments: automotive Exhaust Gas Recirculation (EGR) systems, new energy electric drive stator cores, and precision components[37](index=37&type=chunk) - EGR system products are used in light and heavy-duty diesel vehicles, non-road construction machinery, hybrid and gasoline passenger cars, and natural gas heavy trucks, with major customers including BYD, Chery Automobile, and Geely Auto[39](index=39&type=chunk) - New energy electric drive stator core products, including motor cores, stator assemblies, and rotor assemblies, are used in pure electric and hybrid vehicles, with customers such as United Automotive Electronic Systems and BYD[41](index=41&type=chunk) - Aerospace components include satellite solar wing hinges, UAV parts, and precision missile parts, with customers such as Galaxy Space and Beijing Satellite Manufacturing Factory[41](index=41&type=chunk) - Humanoid robot components include dexterous hands, harmonic reducers, and drive motor parts, with customers including Dingzhi Maita and Weifu High-Technology Group[41](index=41&type=chunk) [(III) Business Model, Market Position, etc.](index=12&type=section&id=(%E4%B8%89)%20%E7%BB%8F%E8%90%A5%E6%A8%A1%E5%BC%8F%E3%80%81%E5%B8%82%E5%9C%BA%E5%9C%B0%E4%BD%8D%E7%AD%89) The company's business model and market position remained stable during the reporting period, consistent with the 2024 annual report - During the reporting period, the company's business model and market position did not undergo significant changes; for details, please refer to the company's 2024 annual report[42](index=42&type=chunk) [(IV) Key Work in H1 2025 and Business Drivers](index=12&type=section&id=(%E5%9B%9B)%20%E5%85%AC%E5%8F%B8%202025%20%E5%B9%B4%E4%B8%8A%E5%8D%8A%E5%B9%B4%E9%87%8D%E7%82%B9%E5%BC%80%E5%B1%95%E5%B7%A5%E4%BD%9C%E6%83%85%E5%86%B5%E6%9A%A8%E4%B8%9A%E5%8A%A1%E9%A9%B1%E5%8A%A8%E5%9B%A0%E7%B4%A0) In H1 2025, the company achieved revenue and profit growth by optimizing its product structure and accelerating new product development across its three growth curves - The company expanded its market presence by optimizing its product structure, accelerating new product R&D and iteration, and continuously improving customer response and satisfaction systems[43](index=43&type=chunk) - While solidifying its foundation in the automotive sector, the company leveraged its technological advantages in precision manufacturing to actively expand into emerging markets such as the aerospace and low-altitude economy industrial chains and humanoid robotics[43](index=43&type=chunk) [1. Automotive Engine Exhaust Gas Recirculation (EGR) System Business Segment](index=13&type=section&id=1%E3%80%81%E6%B1%BD%E8%BD%A6%E5%8F%91%E5%8A%A8%E6%9C%BA%E5%BA%9F%E6%B0%94%E5%86%8D%E5%BE%AA%E7%8E%AF%EF%BC%88EGR%EF%BC%89%E7%B3%BB%E7%BB%9F%E4%B8%9A%E5%8A%A1%E6%9D%BF%E5%9D%97) The EGR system business strengthened its market leadership, gaining share in passenger vehicles and achieving significant revenue growth in commercial vehicles - The company's EGR technology has been fully applied to various downstream automotive markets, including commercial diesel vehicles, passenger gasoline cars, hybrid passenger cars, non-road construction machinery, and natural gas commercial vehicles[45](index=45&type=chunk) - In the passenger car EGR market, the company's customer network covers major enterprises like BYD, Chery, Geely, and GAC, and has successfully entered the supply chains of Changan Automobile and Dongfeng Nissan[46](index=46&type=chunk) - In the commercial vehicle EGR market, the company achieved significant revenue growth in H1 2025, with the supply of natural gas heavy-duty truck EGR valves **exceeding the total for the entire previous year**[46](index=46&type=chunk) - The company has proactively initiated R&D projects related to the **China VII emission standard**[47](index=47&type=chunk) [2. New Energy Business Segment](index=13&type=section&id=2%E3%80%81%E6%96%B0%E8%83%BD%E6%BA%90%E4%B8%9A%E5%8A%A1%E6%9D%BF%E5%9D%97) The new energy business segment is driven by the synergistic development of Lonsen New Energy and Lonsen Maomao, focusing on motor core components and semi-assemblies - The company's new energy business segment has formed a solid strategic pattern of "dual-driver" development, with wholly-owned subsidiary Lonsen New Energy and sub-subsidiary Lonsen Maomao working in synergy[48](index=48&type=chunk) [2.1 Lonsen New Energy Focuses on the New Energy Vehicle Drive Motor Stator Core Components Business](index=14&type=section&id=2.1%20%E9%9A%86%E7%9B%9B%E6%96%B0%E8%83%BD%E6%BA%90%E8%81%9A%E7%84%A6%E4%BA%8E%E6%96%B0%E8%83%BD%E6%BA%90%E6%B1%BD%E8%BD%A6%E9%A9%B1%E5%8A%A8%E7%94%B5%E6%9C%BA%E9%93%81%E8%8A%AF%E9%9B%B6%E9%83%A8%E4%BB%B6%E4%B8%9A%E5%8A%A1) Lonsen New Energy has successfully entered the supply chains of major automakers like Changan and NIO, leveraging advanced welding technology for high-performance motor cores - Lonsen New Energy has successfully entered the supply chains of automakers such as Changan, Li Auto, Xiaomi, NIO, SAIC, Chery, and Spotlight Automotive in collaboration with United Automotive Electronic Systems[51](index=51&type=chunk) - The company has obtained authorization for Kuroda's "GlueFASTEC® technology" and successfully mastered the welding technology for **0.2mm thin materials**, enabling the provision of higher-performance stator core products[52](index=52&type=chunk) [2.2 Lonsen Maomao is Committed to the Semi-assembly Business](index=14&type=section&id=2.2%20%E9%9A%86%E7%9B%9B%E8%8C%82%E8%8C%82%E8%87%B4%E5%8A%9B%E4%BA%8E%E5%8D%8A%E6%80%BB%E6%88%90%E4%B8%9A%E5%8A%A1) Lonsen Maomao, focusing on motor core semi-assemblies, secured project nominations from Bosch and Seres within seven months of its establishment, demonstrating rapid growth - Lonsen Maomao is dedicated to the semi-assembly business, primarily providing supporting services to key customers like Jinkang Power and Bosch, which significantly enhances product value and core competitiveness[53](index=53&type=chunk) - Established in November 2024, Lonsen Maomao secured a semi-assembly project nomination from Bosch one month later, followed by a nomination from Seres in January 2025, and successfully rolled out its first stator and rotor semi-assembly product in June 2025[53](index=53&type=chunk) [3. Precision Components Business Segment](index=14&type=section&id=3%E3%80%81%E7%B2%BE%E5%AF%86%E9%9B%B6%E9%83%A8%E4%BB%B6%E4%B8%9A%E5%8A%A1%E6%9D%BF%E5%9D%97) The precision components segment, operated by MicroResearch Precision, achieved key project breakthroughs and is expanding into small assembly production - Wholly-owned subsidiary MicroResearch Precision focuses on the operation of the precision components segment, specializing in the R&D, production, and sales of precision stamping and injection molding products for automotive components[54](index=54&type=chunk) - In the first half of the year, newly undertaken busbar projects secured a cumulative lifetime value of **¥800 million**, and the company successfully entered the supply chain of emerging domestic electric control enterprise, Zenergy[54](index=54&type=chunk) - The company has achieved a breakthrough from automotive precision components to small assembly products, accumulating **50 small assembly projects**, with projects for Brose seats, Hitachi controllers, and UAES Busbars already in mass production[55](index=55&type=chunk) [4. Aerospace Manufacturing Segment](index=14&type=section&id=4%E3%80%81%E8%88%AA%E7%A9%BA%E8%88%AA%E5%A4%A9%E5%88%B6%E9%80%A0%E6%9D%BF%E5%9D%97) The aerospace segment achieved double business volume growth in H1 through deep cooperation with Galaxy Space and expansion into UAV and missile components - Holding subsidiary MicroResearch Zhongjia focuses on aerospace and UAV precision components, engaging in deep strategic cooperation with Galaxy Space on core satellite precision components[56](index=56&type=chunk) - In the first half of the year, the business volume for the company's satellite module and UAV projects **doubled**[56](index=56&type=chunk) - The company successfully onboarded three important clients: the Beijing Institute of Spacecraft System Engineering and the Beijing Institute of Control Engineering under CASC, and Orienspace (Jiangsu) Aerospace Power Technology Co, Ltd[58](index=58&type=chunk) [5. Humanoid Robot Components and Other Frontier Business Segments](index=15&type=section&id=5%E3%80%81%E4%BA%BA%E5%BD%A2%E6%9C%BA%E5%99%A8%E4%BA%BA%E9%9B%B6%E9%83%A8%E4%BB%B6%E7%AD%89%E5%89%8D%E6%B2%BF%E4%B8%9A%E5%8A%A1%E6%9D%BF%E5%9D%97) The company entered the robotics sector with a dual-path strategy, advancing through the acquisition of Weihan Intelligence and the development of its proprietary "Lansen" robot - The company has formed a dual-path promotion model of **"core components + complete machine R&D"**, achieving breakthroughs in core components such as dexterous hand assemblies, harmonic reducers, and joint modules[59](index=59&type=chunk) - In May 2025, the company completed the business registration change for Wuxi Weihan Intelligent Technology Co, Ltd, officially incorporating it as a holding subsidiary to enhance synergy in precision harmonic reducers and integrated joint actuators[59](index=59&type=chunk) - The company partnered with the Wuxi Industrial Innovation Research Institute to establish Wuxi Lonsen Weirui New Creation Technology Co, Ltd, focusing on frontier fields like humanoid robots, core components, and low-altitude aircraft[59](index=59&type=chunk) - The self-developed **"Lansen Robot"** has evolved from "Lansen I" to "Lansen II" and has been deployed in industrial settings to address heavy-load gripping, defect detection, and flexible handling[63](index=63&type=chunk) - The company's dexterous hand has undergone multiple iterations and is equipped with a compact, lightweight visuo-tactile piezoresistive multimodal electronic skin, achieving ultra-high resolution with tens of thousands of sensing units and high-precision tangential force measurement[64](index=64&type=chunk) [II. Core Competitiveness Analysis](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 competitiveness is built on a diversified product portfolio, strong customer relationships, continuous R&D, advanced manufacturing, and a stable talent pool - The company has established a synergistic development pattern with three core business segments—EGR systems, NEV drive motor stator cores, and automotive precision components—and has expanded into aerospace precision components and the humanoid robot industry[66](index=66&type=chunk) - The company has established long-term, stable strategic partnerships with leading enterprises in the automotive, engine, and motor manufacturing industries, and increases customer procurement categories through inter-segment collaboration[68](index=68&type=chunk) - The company and its wholly-owned subsidiaries MicroResearch Precision and Lonsen New Energy are all national high-tech enterprises, possessing R&D platforms like the "Jiangsu Provincial Diesel Engine EGR System Engineering Technology Research Center"[69](index=69&type=chunk) - As of the end of the reporting period, the company and its holding subsidiaries held approximately **400 valid patents** and 13 software copyrights, with 21 new patents granted during the period[70](index=70&type=chunk) - The company promotes the construction of intelligent factories, introducing multiple high-precision automated production lines and precision manufacturing inspection systems, along with information tools such as PLM, ERP, SRM, WMS, and MES[71](index=71&type=chunk) - The company builds specialized, R&D-focused, and versatile talent teams through "internal training + external recruitment" and continuously iterates its performance evaluation and incentive strategies, such as equity incentives and employee stock ownership plans[74](index=74&type=chunk) [III. Main Business Analysis](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 main business grew, with revenue up 15.44%, but operating cash flow fell sharply by 76.85% to ¥29.76 million due to increased material prepayments - The company's **operating revenue increased by 15.44%** year-on-year, while operating costs increased by 15.74%[76](index=76&type=chunk) - Net cash flow from operating activities was ¥29,763,191.55, a **decrease of 76.85%** year-on-year, primarily due to an increase in prepayments for materials during the reporting period[76](index=76&type=chunk) Products or Services Accounting for Over 10% of Revenue | Product or Service | Operating Revenue (Yuan) | Operating Cost (Yuan) | Gross Margin (%) | Revenue YoY Change (%) | Cost YoY Change (%) | Gross Margin YoY Change (%) | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | EGR Products & Natural Gas Injection Systems | 450,711,654.49 | 354,589,979.16 | 21.33 | 27.44 | 32.73 | -3.14 | | Precision Automotive Parts | 287,379,173.31 | 221,615,030.70 | 22.88 | 19.61 | 21.87 | -1.43 | | New Energy Vehicle Components | 484,538,013.55 | 437,876,414.41 | 9.63 | 6.05 | 8.78 | -2.27 | [IV. Non-core Business Analysis](index=19&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-core business revenue during the reporting period - The company had no non-core business revenue during the reporting period[81](index=81&type=chunk) [V. 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) Total assets grew to ¥4.075 billion, with a notable increase in long-term borrowings, while financial assets measured at fair value rose to ¥591 million Significant Changes in Asset Composition | Item | End of Period Amount (Yuan) | % of Total Assets | Prior Year-End Amount (Yuan) | % of Total Assets | Change in Proportion (%) | | :--- | :--- | :--- | :--- | :--- | :--- | | Cash and Cash Equivalents | 292,193,847.77 | 7.17 | 342,142,582.75 | 8.55 | -1.38 | | Accounts Receivable | 816,536,589.89 | 20.04 | 834,661,800.01 | 20.87 | -0.83 | | Inventory | 418,385,247.35 | 10.27 | 463,080,190.10 | 11.58 | -1.31 | | Long-term Equity Investments | 12,824,852.42 | 0.31 | 12,110,543.28 | 0.30 | 0.01 | | Fixed Assets | 1,042,823,672.44 | 25.59 | 1,059,272,485.29 | 26.48 | -0.89 | | Construction in Progress | 138,221,556.21 | 3.39 | 115,551,422.55 | 2.89 | 0.50 | | Short-term Borrowings | 669,395,237.76 | 16.43 | 693,278,197.05 | 17.33 | -0.90 | | Contract Liabilities | 1,554,965.38 | 0.04 | 503,902.55 | 0.01 | 0.03 | | Long-term Borrowings | 293,000,000.00 | 7.19 | 186,100,000.00 | 4.65 | 2.54 | Assets and Liabilities Measured at Fair Value | Item | Opening Balance (Yuan) | Fair Value Change (Yuan) | Purchases (Yuan) | Sales (Yuan) | Closing Balance (Yuan) | | :--- | :--- | :--- | :--- | :--- | :--- | | Trading Financial Assets | 332,155,703.87 | -69,810.06 | 246,000,000.00 | 170,264,987.59 | 407,820,906.22 | | Other Non-current Financial Assets | 181,336,689.19 | 0.00 | 0.00 | 0.00 | 181,336,689.19 | | Other Equity Instrument Investments | 1,877,038.18 | 0.00 | 0.00 | 0.00 | 1,877,038.18 | | Total | 515,369,431.24 | -69,810.06 | 246,000,000.00 | 170,264,987.59 | 591,034,633.59 | Restricted Assets | Item | Closing Book Value (Yuan) | Restriction Type | Reason for Restriction | | :--- | :--- | :--- | :--- | | Cash and Cash Equivalents | 41,428,102.23 | Pledge | Security deposit for issuing bank acceptance drafts | | Intangible Assets | 8,150,830.19 | Mortgage | Collateral for bank loans | | Total | 49,578,932.42 | - | - | [VI. Investment Analysis](index=20&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's investment amount decreased by 50.96% to ¥61.2 million, primarily allocated to wealth management products with an outstanding balance of ¥407.82 million Investment Amount During the Reporting Period | Indicator | Amount (Yuan) | | :--- | :--- | | Investment Amount in Reporting Period | 61,200,000.00 | | Investment Amount in Prior Year Period | 124,800,000.00 | | Change | -50.96% | Entrusted Wealth Management Overview | Type | Amount Invested (10k Yuan) | Outstanding Balance (10k Yuan) | | :--- | :--- | :--- | | Bank Wealth Management Products | 41,095 | 33,108.59 | | Brokerage Wealth Management Products | 499.49 | 7,673.5 | | Total | 41,594.49 | 40,782.09 | - The company had no use of raised funds, major equity investments, major non-equity investments, derivative investments, or entrusted loans during the reporting period[87](index=87&type=chunk)[89](index=89&type=chunk)[90](index=90&type=chunk) [VII. Sale of Major Assets and Equity](index=21&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) No major sales of assets or equity occurred during the reporting period - The company did not sell any major assets during the reporting period[91](index=91&type=chunk) - The company did not sell any major equity during the reporting period[91](index=91&type=chunk) [VIII. 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) The company's main subsidiaries, MicroResearch Precision and Lonsen New Energy, reported net profits of ¥37.46 million and ¥19.17 million, respectively Financials of Major Subsidiaries | Company Name | Type | Main Business | Registered Capital (10k Yuan) | Total Assets (10k Yuan) | Net Assets (10k Yuan) | Operating Revenue (10k Yuan) | Net Profit (10k Yuan) | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Wuxi MicroResearch Precision Technology Co, Ltd | Subsidiary | Precision stamped parts, precision injection molded parts, etc | 5,000 | 82,867.99 | 46,080.22 | 36,335.12 | 3,746.39 | | Wuxi Lonsen New Energy Technology Co, Ltd | Subsidiary | NEV engine drive motor stator core business | 15,000 | 143,510.46 | 51,554.05 | 48,453.80 | 1,917.34 | - During the reporting period, the company acquired Wuxi Weihan Intelligent Technology Co, Ltd, which had no significant impact on the company's overall production, operation, and performance[95](index=95&type=chunk) [IX. Structured Entities Controlled by the Company](index=22&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 did not control any structured entities during the reporting period - The company did not control any structured entities during the reporting period[95](index=95&type=chunk) [X. Risks 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 policy changes, economic cycles, and cost pressures, which it mitigates through proactive R&D and strategic management - The company faces risks from changes in automotive industry policies and will monitor policy dynamics, study industry trends, and strengthen business process controls[95](index=95&type=chunk) - Macroeconomic fluctuations and changes in downstream demand may cause volatility in operating performance; the company will enhance macroeconomic analysis and optimize its industrial structure[96](index=96&type=chunk) - Technological risks include R&D deviation, insufficient R&D capabilities, or leakage of core technology; the company will improve its R&D system, increase investment, and deepen incentive mechanism reforms[97](index=97&type=chunk) - Rising raw material costs may lead to lower gross margins; the company will increase R&D investment to enhance product value and actively broaden procurement channels[98](index=98&type=chunk)[99](index=99&type=chunk) - To address the risk of declining product prices, the company will continue to increase R&D investment to enhance product bargaining power and competitiveness, and implement measures such as process optimization, efficiency improvement, and cost reduction[100](index=100&type=chunk) - To mitigate goodwill impairment risk, the company will strengthen post-acquisition management, closely track the development of acquired companies, and empower them through strategic planning, risk control, resource integration, and matrix management[101](index=101&type=chunk) [XI. Record of Investor Relations Activities](index=23&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) The company held its 2024 annual online performance briefing for investors on May 12, 2025 - On May 12, 2025, the company hosted its 2024 annual online performance briefing for institutional and individual investors via a web platform[102](index=102&type=chunk) [XII. Market Value Management System and Valuation Enhancement Plan](index=23&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 has established a "Market Value Management System" but has not disclosed a specific valuation enhancement plan - The company has formulated a "Market Value Management System," which was approved by the 9th meeting of the 5th Board of Directors on August 28, 2025[103](index=103&type=chunk) - The company has not disclosed a valuation enhancement plan[103](index=103&type=chunk) [XIII. Implementation of the "Dual Improvement in Quality and Returns" Action Plan](index=23&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 has not disclosed an announcement regarding a "Dual Improvement in Quality and Returns" action plan - The company has not disclosed an announcement regarding a "Dual Improvement in Quality and Returns" action plan[104](index=104&type=chunk) [Corporate Governance, Environment, and Society](index=24&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=24&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) There were no changes in the company's directors, supervisors, or senior management during the reporting period - There were no changes in the company's directors, supervisors, or senior management during the reporting period; for details, please refer to the 2024 annual report[106](index=106&type=chunk) [II. Profit Distribution and Capitalization of Capital Reserves](index=24&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 does not plan to distribute cash dividends, issue bonus shares, or capitalize capital reserves for the semi-annual period - The company plans **not to distribute cash dividends, issue bonus shares, or convert capital reserves into share capital** for the semi-annual period[107](index=107&type=chunk) [III. Implementation of Employee Incentive Plans](index=24&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 2023 restricted stock plan is ongoing, while the third-phase employee stock ownership plan was completed and terminated in February 2025 - The conditions for the first vesting period of the initial grant under the company's 2023 restricted stock incentive plan have been met, and the vesting results and share listing announcement were disclosed on November 20, 2024[114](index=114&type=chunk) - Due to the implementation of the 2023 annual equity distribution, the grant price of restricted stocks under this incentive plan was **adjusted from ¥11.48 to ¥11.28**[111](index=111&type=chunk) - The third-phase employee stock ownership plan has sold all 1,772,235 company shares it held through centralized bidding and block trades on the secondary market, and was terminated on February 19, 2025[116](index=116&type=chunk) - There were no other employee incentive measures during the reporting period[117](index=117&type=chunk) [IV. Environmental Information Disclosure](index=27&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 and its subsidiary, MicroResearch Precision, are listed for mandatory environmental information disclosure, with reports available on the Jiangsu Enterprise "Environmental Profile" platform - The listed company and its main subsidiary, Wuxi MicroResearch Precision Technology Co, Ltd, are included in the list of enterprises required to disclose environmental information by law[118](index=118&type=chunk) - The environmental information disclosure report for Wuxi MicroResearch Precision Technology Co, Ltd can be accessed on the Jiangsu Enterprise "Environmental Profile" platform[118](index=118&type=chunk) [V. Social Responsibility](index=27&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 actively fulfills its social responsibilities by protecting stakeholder interests, supporting employees, and engaging in community and educational initiatives - The company enhances investor understanding and trust through regular performance briefings, participation in the SZSE's "Easy IR" platform, and a dedicated investor hotline[120](index=120&type=chunk) - The company distributes annual cash dividends of **no less than 20% of the net profit** attributable to shareholders, ensuring shareholder returns[120](index=120&type=chunk) - The company has built a multi-level talent development system, implemented equity incentives, strictly adheres to labor laws, and established an employee grievance mechanism to protect employee rights[121](index=121&type=chunk) - The company is committed to building long-term, stable relationships with suppliers, prioritizing customer needs with high-quality services, and adhering to fair market competition rules[122](index=122&type=chunk) - The company actively participates in the national pilot program for industry-education integration and supports the "Lonsen Cup" CAD Application Skills Competition for college students at Jiangsu Information Vocational Technical College[123](index=123&type=chunk) [Important Matters](index=28&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. Commitments Fulfilled or Outstanding by Relevant Parties](index=28&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) Commitments made by the actual controllers regarding non-competition and related-party transactions are being duly fulfilled during the reporting period - The long-term commitment by Ni Maosheng and Ni Ming to avoid non-competition is being properly fulfilled[125](index=125&type=chunk) - The long-term commitment by Ni Maosheng and Ni Ming to reduce and regulate related-party transactions is being properly fulfilled[125](index=125&type=chunk) - The long-term commitments by Ni Ming and Ni Maosheng regarding non-competition, related-party transactions, and fund appropriation are being properly fulfilled[126](index=126&type=chunk) - The commitments by the controlling shareholder, actual controllers, directors, and senior management regarding remedial measures for the dilution of immediate returns from the 2019 non-public offering of A-shares have been fulfilled by Ren Yongping, Yao Chunde, Shen Tongxian, and Tan Yuanzhi, while others are still in progress[126](index=126&type=chunk) - The company's commitment not to provide loans or any other form of financial assistance to the participants of the 2023 restricted stock incentive plan is being properly fulfilled[128](index=128&type=chunk) [II. Non-operational Fund Occupation by Controlling Shareholders and Other Related Parties](index=30&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) There were no instances of non-operational fund occupation by controlling shareholders or other related parties during the reporting period - There were no instances of non-operational fund occupation by the company's controlling shareholder or other related parties during the reporting period[130](index=130&type=chunk) [III. Irregular External Guarantees](index=31&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[131](index=131&type=chunk) [IV. Appointment and Dismissal of Accounting Firm](index=31&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 report has not been audited - The company's semi-annual report has not been audited[132](index=132&type=chunk) [V. Explanation on "Non-standard Audit Report" by the Board and Committees](index=31&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) No non-standard audit report was issued for the reporting period - No non-standard audit report was issued for the reporting period[133](index=133&type=chunk) [VI. Board's Explanation on Prior Year's "Non-standard Audit Report"](index=31&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) No non-standard audit report was issued for the reporting period - No non-standard audit report was issued for the reporting period[133](index=133&type=chunk) [VII. Bankruptcy and Reorganization Matters](index=31&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) No bankruptcy or reorganization matters occurred during the reporting period - No bankruptcy or reorganization matters occurred during the reporting period[133](index=133&type=chunk) [VIII. Litigation Matters](index=31&type=section&id=%E5%85%AB%E3%80%81%E8%AF%89%E8%AE%BC%E4%BA%8B%E9%A1%B9) The company had no major litigation, arbitration, or other legal proceedings during the reporting period - The company had no major litigation or arbitration matters during this reporting period[134](index=134&type=chunk) - The company had no other litigation matters during the reporting period[134](index=134&type=chunk) [IX. Penalties and Rectifications](index=31&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) No penalties or rectifications occurred during the reporting period - No penalties or rectifications occurred during the reporting period[134](index=134&type=chunk) [X. Integrity Status of the Company and Its Controlling Shareholders](index=31&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) There were no integrity issues concerning the company, its controlling shareholders, or actual controllers during the reporting period - There were no integrity issues concerning the company, its controlling shareholders, or actual controllers during the reporting period[135](index=135&type=chunk) [XI. Major Related-Party Transactions](index=32&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) The company conducted routine related-party procurement of ¥5.17 million with an affiliate, which was within the approved transaction limit Related-Party Transactions in Daily Operations | Related Party | Transaction Type | Transaction Content | Amount (10k Yuan) | Approved Limit (10k Yuan) | Exceeded Limit | | :--- | :--- | :--- | :--- | :--- | :--- | | Liuzhou Zhisheng Automotive Electronics Co, Ltd | Related-party procurement | Material procurement | 516.98 | 2,000 | No | - The company had no related-party transactions involving the acquisition or sale of assets or equity during the reporting period[138](index=138&type=chunk) - The company had no related-party transactions involving joint external investments during the reporting period[139](index=139&type=chunk) - There were no related-party credit or debt transactions during the reporting period[140](index=140&type=chunk) - There were no deposits, loans, credit lines, or other financial services between the company and any related finance companies or between the company's controlled finance companies and related parties[141](index=141&type=chunk)[142](index=142&type=chunk) - The company had no other major related-party transactions during the reporting period[143](index=143&type=chunk) [XII. Major Contracts and Their Performance](index=33&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 provided guarantees for its subsidiaries, with an outstanding balance of ¥145.3 million, representing 7.61% of net assets - The company had no custody, contracting, or leasing arrangements during the reporting period[144](index=144&type=chunk)[145](index=145&type=chunk)[146](index=146&type=chunk) Guarantees Provided by the Company to Subsidiaries | Guaranteed Party | Guarantee Limit (10k Yuan) | Actual Guarantee Amount (10k Yuan) | Guarantee Period | Fulfilled | | :--- | :--- | :--- | :--- | :--- | | Liuzhou MicroResearch Tianlong Technology Co, Ltd | 5,000 | 500 | 5 years | Yes | | Liuzhou MicroResearch Tianlong Technology Co, Ltd | 5,000 | 60 | 5 years | Yes | | Wuxi MicroResearch Precision Technology Co, Ltd | 5,000 | 1,000 | 2 years | Yes | | Liuzhou MicroResearch Tianlong Technology Co, Ltd | 5,000 | 560 | 5 years | No | | Liuzhou MicroResearch Tianlong Technology Co, Ltd | 5,000 | 220 | 5 years | No | | Liuzhou MicroResearch Tianlong Technology Co, Ltd | 5,000 | 210 | 5 years | No | | Liuzhou MicroResearch Tianlong Technology Co, Ltd | 5,000 | 130 | 5 years | No | | Liuzhou MicroResearch Tianlong Technology Co, Ltd | 5,000 | 220 | 5 years | No | | Liuzhou MicroResearch Tianlong Technology Co, Ltd | 5,000 | 340 | 5 years | No | | Liuzhou MicroResearch Tianlong Technology Co, Ltd | 5,000 | 10 | 5 years | No | | Liuzhou MicroResearch Tianlong Technology Co, Ltd | 5,000 | 350 | 5 years | No | | Liuzhou MicroResearch Tianlong Technology Co, Ltd | 5,000 | 200 | 5 years | No | | Liuzhou MicroResearch Tianlong Technology Co, Ltd | 5,000 | 220 | 5 years | No | | Wuxi Lonsen New Energy Technology Co, Ltd | 18,000 | 5,400 | 3 years | No | | Wuxi Lonsen New Energy Technology Co, Ltd | 18,000 | 720 | 3 years | No | | Wuxi Lonsen New Energy Technology Co, Ltd | 18,000 | 5,400 | 3 years | No | | Wuxi Lonsen New Energy Technology Co, Ltd | 18,000 | 450 | 3 years | No | | Wuxi Lonsen New Energy Technology Co, Ltd | 18,000 | 100 | 3 years | No | - At the end of the reporting period, the total outstanding guarantee balance for subsidiaries was **¥145.30 million**, accounting for **7.61% of the company's net assets**[151](index=151&type=chunk) - The company had no major contracts related to daily operations or other major contracts during the reporting period[152](index=152&type=chunk)[153](index=153&type=chunk) [XIII. Explanation of Other Major Matters](index=35&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 disclosed its 2024 profit distribution plan and several announcements related to its share repurchase program during the period Overview of Important Matters | Important Matter | Announcement Title | Disclosure Date | | :--- | :--- | :--- | | Profit Distribution | Announcement on the 2024 Annual Profit Distribution Plan (2025-017) | April 21, 2025 | | Share Repurchase | Announcement on the First Repurchase of Company Shares and Progress (2025-004) | February 5, 2025 | | Share Repurchase | Announcement on the Implementation of the 2024 Annual Equity Distribution (2025-028) | June 10, 2025 | | Share Repurchase | Announcement on Adjusting the Share Repurchase Price Cap After the 2024 Equity Distribution (2025-029) | June 16, 2025 | | Share Repurchase | Progress Announcement on Share Repurchase Reaching 1% of Total Share Capital (2025-030) | June 24, 2025 | | Share Repurchase | Progress Announcements on Share Repurchase (2025-001, 2025-006, etc) | January 3, 2025, etc | [XIV. Major Matters of Company Subsidiaries](index=35&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) Subsidiary Lonsen Maomao received a nomination from Seres, and the company acquired Weihan Intelligence to advance its robotics strategy - The holding sub-subsidiary received a nomination notice from its customer, Seres[157](index=157&type=chunk) - The company reached a strategic cooperation with Wuxi Weihan Intelligent Technology Co, Ltd, which has officially become a holding subsidiary, focusing on the R&D and industrial application of precision harmonic reducers and integrated joint actuators[157](index=157&type=chunk) - The holding sub-subsidiary signed the "Lonsen Maomao New Energy Vehicle Lightweight Component Production Base Project Cooperation Agreement" for an external investment[157](index=157&type=chunk) [Share Capital Changes and Shareholder Information](index=37&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. Share Capital Changes](index=37&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) The company's total share capital remained unchanged during the period, but a subsequent repurchase and cancellation reduced the total shares to 227,716,078 Share Capital Changes | Share Class | Pre-Change Quantity (Shares) | Pre-Change Ratio (%) | Change (+/- Shares) | Post-Change Quantity (Shares) | Post-Change Ratio (%) | | :--- | :--- | :--- | :--- | :--- | :--- | | I. Restricted Shares | 58,329,814 | 25.25 | -6,451,876 | 51,877,938 | 22.46 | | - Domestic Natural Person Holdings | 58,329,814 | 25.25 | -6,451,876 | 51,877,938 | 22.46 | | II. Unrestricted Shares | 172,694,464 | 74.75 | 6,451,876 | 179,146,340 | 77.54 | | - RMB Ordinary Shares | 172,694,464 | 74.75 | 6,451,876 | 179,146,340 | 77.54 | | III. Total Shares | 231,024,278 | 100.00 | 0 | 231,024,278 | 100.00 | - The share changes were primarily due to the annual re-determination of executive lock-up shares and the release of locked-up shares following the departure of the former Chairman of the Supervisory Committee, Zheng Zhaoxing, and former Director, Tan Yuanzhi, upon term completion[160](index=160&type=chunk) - The company completed its share repurchase plan on July 15, 2025, having repurchased a total of **3,308,200 shares** for a total transaction amount of ¥111,115,268.22[162](index=162&type=chunk) - These repurchased shares were cancelled on July 17, 2025, reducing the company's total share capital from 231,024,278 shares to **227,716,078 shares**[163](index=163&type=chunk) [II. Securities Issuance and Listing](index=39&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[167](index=167&type=chunk) [III. Number of Shareholders and Shareholdings](index=39&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 period end, the company had 22,812 ordinary shareholders, with the controlling shareholder Ni Maosheng holding a 21.26% stake - At the end of the reporting period, the total number of ordinary shareholders was **22,812**[168](index=168&type=chunk) Top 10 Shareholders | Shareholder Name | Nature | Shareholding (%) | Shares Held | Restricted Shares | Unrestricted Shares | Share Status | Quantity (Shares) | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Ni Maosheng | Domestic Natural Person | 21.26 | 49,117,012 | 36,837,759 | 12,279,253 | Pledged | 5,240,000 | | Ni Ming | Domestic Natural Person | 8.12 | 18,770,172 | 14,077,629 | 4,692,543 | N/A | 0 | | CMB - Penghua Carbon Neutral Themed Mixed Fund | Other | 4.70 | 10,856,185 | 0 | 10,856,185 | N/A | 0 | | CCB - E Fund Advanced Manufacturing Mixed Fund | Other | 2.54 | 5,862,500 | 0 | 5,862,500 | N/A | 0 | | Wu Bohong | Domestic Natural Person | 2.03 | 4,683,300 | 0 | 4,683,300 | N/A | 0 | | Wu Peiling | Domestic Natural Person | 1.16 | 2,686,900 | 0 | 2,686,900 | N/A | 0 | | Xue Zuxing | Domestic Natural Person | 1.03 | 2,378,000 | 0 | 2,378,000 | N/A | 0 | | Zheshang Bank - Qianhai Kaiyuan Jiaxin Flexible Allocation Mixed Fund | Other | 0.98 | 2,271,987 | 0 | 2,271,987 | N/A | 0 | | Tan Yuanzhi | Domestic Natural Person | 0.96 | 2,220,473 | 0 | 2,220,473 | N/A | 0 | | National Social Security Fund Portfolio 104 | Other | 0.74 | 1,719,300 | 0 | 1,719,300 | N/A | 0 | - Ni Maosheng and Ni Ming are father and son, and are the company's controlling shareholder and actual controller[170](index=170&type=chunk) - As of the end of this reporting period, the company's repurchase-dedicated securities account held **4,377,600 shares**, representing 1.89% of the current total share capital[170](index=170&type=chunk) [IV. Changes in Shareholdings of Directors, Supervisors, and Senior Management](index=41&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) There were no changes in the shareholdings of the company's directors, supervisors, or senior management during the reporting period - There were no changes in the shareholdings of the company's directors, supervisors, or senior management during the reporting period; for details, please refer to the 2024 annual report[172](index=172&type=chunk) [V. Changes in Controlling Shareholder or Actual Controller](index=41&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 did not change during the reporting period[173](index=173&type=chunk) - The company's actual controller did not change during the reporting period[173](index=173&type=chunk) [VI. Preferred Stock Information](index=42&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 stock during the reporting period - The company had no preferred stock during the reporting period[174](index=174&type=chunk) [Bond-related Matters](index=43&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 Matters](index=43&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 matters during the reporting period - The company had no bond-related matters during the reporting period[176](index=176&type=chunk) [Financial Report](index=44&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=44&type=section&id=%E4%B8%80%E3%80%81%E5%AE%A1%E8%AE%A1%E6%8A%A5%E5%91%8A) The semi-annual financial report has not been audited - The semi-annual financial report has not been audited[178](index=178&type=chunk) [II. Financial Statements](index=44&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 consolidated and parent company financial statements for H1 2025, detailing financial position, performance, and cash flows - This section includes the Consolidated Balance Sheet, Parent Company Balance Sheet, Consolidated Income Statement, Parent Company Income Statement, Consolidated Cash Flow Statement, Parent Company Cash Flow Statement, Consolidated Statement of Changes in Equity, and Parent Company Statement of Changes in Equity[179](index=179&type=chunk)[183](index=183&type=chunk)[186](index=186&type=chunk)[194](index=194&type=chunk)[196](index=196&type=chunk)[199](index=199&type=chunk)[202](index=202&type=chunk)[211](index=211&type=chunk) [III. Company Basic Information](index=62&type=section&id=%E4%B8%89%E3%80%81%E5%85%AC%E5%8F%B8%E5%9F%BA%E6%9C%AC%E6%83%85%E5%86%B5) Lonsen Technology, listed on the ChiNext market, specializes in automotive EGR systems and NEV components, with 7 entities included in its consolidated statements - The company's stock was listed on the ChiNext market of the Shenzhen Stock Exchange on July 25, 2017, with the stock short name Lonsen Technology and stock code 300680[220](index=220&type=chunk) - The company's registered and paid-in capital (share capital) was changed to RMB 231,024,278.00[221](index=221&type=chunk) - The company is primarily engaged in the R&D, production, and sales of automotive EGR systems, new energy vehicle motor stator cores, automotive precision components, and molds[222](index=222&type=chunk) - A total of 7 entities were included in the scope of the consolidated financial statements for this reporting period, an increase of 1 from the previous period[222](index=222&type=chunk) [IV. Basis of Preparation for Financial Statements](index=63&type=section&id=%E5%9B%9B%E3%80%81%E8%B4%A2%E5%8A%A1%E6%8A%A5%E8%A1%A8%E7%9A%84%E7%BC%96%E5%88%B6%E5%9F%BA%E7%A1%80) The financial statements are prepared in accordance with China's Accounting Standards for Business Enterprises and on a going concern basis - The company prepares its financial statements based on actual transactions and events, in accordance with the "Accounting Standards for Business Enterprises - Basic Standard" and other specific standards, application guides, and interpretations issued by the Ministry of Finance[223](index=223&type=chunk) - These financial statements are prepared on a going concern basis, with no events or conditions found that cast significant doubt on the company's ability to continue as a going concern[224](index=224&type=chunk) [V. Significant Accounting Policies and Estimates](index=63&type=section&id=%E4%BA%94%E3%80%81%E9%87%8D%E8%A6%81%E4%BC%9A%E8%AE%A1%E6%94%BF%E7%AD%96%E5%8F%8A%E4%BC%9A%E8%AE%A1%E4%BC%B0%E8%AE%A1) The company's accounting policies are consistent with the 2024 annual report, with an adjustment made to the accounting for warranty-type provisions - The accounting policies and estimates for the current period are consistent with those in the 2024 annual report[225](index=225&type=chunk) - The company's financial statements comply with the requirements of the Accounting Standards for Business Enterprises, and truly and completely reflect the company's financial position, operating results, and cash flows for the reporting period[226](index=226&type=chunk) - In December 2024, the Ministry of Finance issued "Interpretation No. 18 of the Accounting Standards for Business Enterprises," leading the company to adjust its accounting for provisions arising from warranty-type quality guarantees that are not separate performance obligations, affecting the cost of sales and selling expenses in the consolidated and parent company income statements[348](index=348&type=chunk) [VI. Taxation](index=89&type=section&id=%E5%85%AD%E3%80%81%E7%A8%8E%E9%A1%B9) The company and certain subsidiaries benefit from a reduced 15% corporate income tax rate as high-tech enterprises and under the Western Development policy Main Taxes and Tax Rates | Tax Type | Tax Basis | Tax Rate | | :--- | :--- | :--- | | Value-Added Tax (VAT) | Domestic sales; provision of processing, repair, and replacement services | 13% | | Urban Maintenance and Construction Tax | Based on actual VAT paid | 7% | | Corporate Income Tax | Taxable income | 15%, 16.5%, and 25% | | Education Surcharge | Based on actual VAT paid | 3% | | Local Education Surcharge | Based on actual VAT paid | 2% | - The company and its subsidiaries Wuxi MicroResearch Precision Technology Co, Ltd, and Wuxi Lonsen New Energy Technology Co, Ltd, benefit from the high-tech enterprise income tax preferential policy, paying corporate income tax at a reduced rate of **15%**[352](index=352&type=chunk)[353](index=353&type=chunk) - The holding sub-subsidiary Liuzhou MicroResearch Tianlong Technology Co, Ltd, benefits from the Western Development corporate income tax policy, paying tax at a reduced rate of **15%**[352](index=352&type=chunk) - For the sale of self-developed software products, the company is subject to a 13% VAT, with the portion of the actual VAT burden exceeding 3% being immediately refunded[352](index=352&type=chunk) [VII. Notes to Consolidated Financial Statement Items](index=90&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 notes on all major items in the consolidated financial statements, including assets, liabilities, equity, and income statement accounts - The closing balance of cash and cash equivalents was **¥292.19 million**, of which ¥42.14 million was restricted[355](index=355&type=chunk) - The closing balance of trading financial assets was **¥407.82 million**, primarily consisting of wealth management products[357](index=357&type=chunk) - The closing book value of accounts receivable was **¥816.54 million**, with a bad debt provision of ¥59.45 million[370](index=370&type=chunk) - The closing book value of inventory was **¥418.39 million**, with an inventory write-down provision of ¥22.10 million[409](index=409&type=chunk) - The closing book value of goodwill was **¥198.46 million**, with an increase of ¥39.06 million this period, mainly from the acquisition of Wuxi Weihan Intelligent Technology Co, Ltd[437](index=437&type=chunk) - Operating revenue for the period was **¥1,224.07 million**, and the cost of sales was ¥1,002.96 million[494](index=494&type=chunk) - Net cash flow from operating activities was **¥29.76 million**, from investing activities was -¥134.89 million, and from financing activities was ¥40.67 million[198](index=198&type=chunk) [VIII. R&D Expenditures](index=122&type=section&id=%E5%85%AB%E3%80%81%E7%A0%94%E5%8F%91%E6%94%AF%E5%87%BA) Total R&D expenditure for the period was ¥45.53 million, all of which was expensed, with no projects meeting capitalization criteria R&D Expenditure Details | Item | Current Period (Yuan) | Prior Period (Yuan) | | :--- | :--- | :--- | | Employee Compensation | 22,810,458.35 | 21,277,266.30 | | Direct Inputs | 13,338,528.06 | 8,419,029.54 | | Depreciation | 6,941,435.13 | 7,085,198.25 | | Others | 2,444,540.74 | 2,505,484.54 | | Total | 45,534,962.28 | 39,286,978.63 | | Of which: Expensed R&D | 45,534,962.28 | 39,286,978.63 | - The company had no R&D projects that met the criteria for capitalization during the reporting period[541](index=541&type=chunk) [IX. Changes in Consolidation Scope](index=123&type=section&id=%E4%B9%9D%E3%80%81%E5%90%88%E5%B9%B6%E8%8C%83%E5%9B%B4%E7%9A%84%E5%8F%98%E6%9B%B4) The consolidation scope expanded due to the acquisition of a 50.99% stake in Wuxi Weihan Intelligent Technology Co, Ltd under a business combinati

无锡隆盛科技股份有限公司 股东会网络投票实施细则 无锡隆盛科技股份有限公司 股东会网络投票实施细则 第一章 总则 第一条 为了规范无锡隆盛科技股份有限公司(以下简称"公司")股东会网络投 票行为，便于股东行使表决权，保护投资者合法权益，依据有关法律、行政法规、 部门规章、规范性文件、深圳证券交易所（以下简称"深交所"）业务规章和《公 司章程》等文件，特制定本细则。 第二条 本细则所称股东会网络投票是指公司股东通过深交所网络投票系统行 使 表 决 权 。 网 络 投 票 系 统 包 括 深 交 所 交 易 系 统 、 互 联 网 投 票 系 统 （http://wltp.cninfo.com.cn）。 公司可以选择使用现场投票辅助系统收集汇总现场投票数据，并委托深圳证券 信息有限公司(以下简称"信息公司")合并统计网络投票和现场投票数据。公司通 过深交所网络投票系统为股东提供网络投票服务的，应当与信息公司签订服务协议。 第三条 公司召开股东会，除现场会议投票外，应当向股东提供股东会网络投票 服务。公司股东会现场会议应当在深交所交易日召开。 第四条 股东会股权登记日登记在册的所有股东，均有权通过网络投票系统行使 ...

无锡隆盛科技股份有限公司 内幕信息知情人登记管理制度 无锡隆盛科技股份有限公司 内幕信息知情人登记管理制度 第一章 总则 第一条 为规范无锡隆盛科技股份有限公司（以下简称"公司"）的内幕信 息管理，做好内幕信息保密工作，维护公司信息披露的公开、公平、公正原则， 根据《中华人民共和国公司法》《中华人民共和国证券法》《上市公司信息披露 管理办法》《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》《上市公司监管指引第 5 号——上市公司内幕信息知情人登记管理制度》等有关法律、法规及《无锡隆 盛科技股份有限公司章程》（以下简称《公司章程》）的有关规定，制定本制度。 第二条 公司董事会应当按照本制度及证券交易所相关规则要求及时登记和 报送内幕信息知情人档案，保证内幕信息知情人档案真实、准确和完整。 第七条 本制度所指内幕信息的范围包括但不限于： 董事长为主要责任人。董事会秘书负责办理公司内幕信息知情人的登记入 档和报送事宜。公司董事长与董事会秘书应当对内幕信息知情人档案的真实、 准确和完整签署书面确认意见。公司相关部门、单位应将内幕信息管理纳入相 关业务的管 ...

无锡隆盛科技股份有限公司 董事、高级管理人员薪酬管理制度 无锡隆盛科技股份有限公司 董事、高级管理人员薪酬管理制度 第一章 总则 第一条 为进一步完善无锡隆盛科技股份有限公司（以下简称"公司"）董事、 高级管理人员的薪酬管理，建立有效的激励与约束机制，充分调动公司董事、高 级管理人员的工作积极性和创造性，促进公司的持续健康发展，根据国家相关法 律法规及《无锡隆盛科技股份有限公司章程》（以下简称"《公司章程》"）的规定， 结合公司实际情况，特制定本制度。 第二条 本制度适用于以下人员： （一）董事会成员：包括非独立董事（含职工代表董事）、独立董事； （二）高级管理人员：包括公司总经理、副总经理、董事会秘书、财务总监 及《公司章程》认定的其他人员。 第三条 公司董事、高管薪酬管理遵循以下原则： （一）坚持按劳分配，责、权、利相结合原则； （二）实际收入水平与公司效益及工作目标挂钩原则； （三）长远发展原则，薪酬与公司持续健康发展的目标相符； （四）激励约束并重原则，薪酬与考核、奖惩、激励机制挂钩； （五）公开、公正、透明原则。 第二章 管理机构 第四条 公司股东会负责审议董事的薪酬；公司董事会负责审议公司高级管 ...