Summary of Key Points Core Viewpoint The report provides a detailed account of Dongguan Darui Electronics Co., Ltd.'s fundraising activities, including the total amount raised, the usage of funds, and the management of these funds as of June 30, 2025. It highlights the company's compliance with regulatory requirements and outlines the financial status of its fundraising projects. Fundraising Overview - The company raised a total of RMB 2,193,016,056.00 through its initial public offering, with a net amount of RMB 2,038,096,865.89 after deducting issuance costs [1] - The funds were fully received by April 12, 2021, and verified by an accounting firm [1] Fund Usage and Balance - As of June 30, 2025, the net amount of raised funds was RMB 203,809.69 million, with cumulative investments in fundraising projects totaling RMB 143,402.16 million [2] - The company invested RMB 16,792.00 million in fundraising projects during the reporting period [2] - The remaining balance of unused funds was RMB 63,419.17 million, including RMB 58,400.00 million temporarily idle for cash management [2] Fund Management - The company established a fundraising management system in compliance with relevant regulations, including a dedicated management method for the storage and use of funds [2] - Special accounts were opened for the management of fundraising funds, and a tripartite supervision agreement was signed with several banks [2][3] Cash Management - The company has been authorized to use up to RMB 11 billion of temporarily idle funds for cash management, with a subsequent approval to use up to RMB 8 billion [6] - As of June 30, 2025, the company earned RMB 518.92 million from cash management activities [8] Project Implementation and Adjustments - The "3C Electronic Assembly Automation Equipment Production Project" and "Wearable Electronic Product Structural Parts Production Project" have reached their intended usable status as of March 25, 2024, and March 25, 2025, respectively [9][10] - The company has not made any changes to the implementation locations or methods of fundraising projects as of June 30, 2025 [12] Surplus Fund Usage - Surplus funds from the projects have been permanently allocated to supplement working capital, with specific amounts detailed for each project [9][10][14] - The company has also reported on the usage of over-raised funds, with a total of RMB 56,869.28 million in surplus funds, of which RMB 1,322.72 million remains unallocated [14]

Investment Overview - Dongguan Darui Electronics Co., Ltd. (the "Company") has signed a partnership agreement to invest in Shenzhen Zhuoyuan Darui Artificial Intelligence Venture Capital Partnership (Limited Partnership) with a total subscribed capital of RMB 87.01 million, where the Company's wholly-owned subsidiary, Shenzhen Ruichuang Future Investment Co., Ltd., will contribute RMB 42 million, accounting for 48.3% of the total subscribed capital [1][10][11] Investment Structure - The partnership does not involve related transactions and does not constitute a major asset restructuring as defined by the relevant regulations [2][3] - The general partner and fund manager is Guangdong Zhuoyuan Asia Zhongke Venture Capital Co., Ltd., which has been registered with the Asset Management Association of China [4][9] Fund Management and Fees - The fund has a permanent operational period with an investment period of 4 years and an exit period of 4 years, with the possibility of a one-year extension [11][20] - Management fees are set at 2% of the total paid-in capital during the investment period and 1% during the exit period [14][20] Investment Focus - The fund will focus on early to mid-stage investments in artificial intelligence, smart hardware, and advanced manufacturing sectors, prioritizing projects that support smart manufacturing technology [15][20] - Prohibited investment activities include engaging in guarantees, investing in secondary market stocks, and providing loans [15][20] Impact on Company - The investment aligns with the Company's strategic direction, enhancing its competitive edge by leveraging resources and advantages from professional investment institutions [20][21] - The funding source is from the subsidiary's own funds, ensuring that the Company's normal operations are not affected [21]

Group 1 - The company reported non-operating fund occupation by related parties, with significant amounts owed by its controlling shareholders and subsidiaries [1][2] - The total amount of non-operating fund occupation at the end of the first half of 2025 was 31,991.65 million yuan, with interest accrued amounting to 5,954.42 million yuan [2] - The company has multiple subsidiaries, including Dongguan Dali New Energy Technology Co., Ltd., which has a substantial receivable of 23,252.01 million yuan [2] Group 2 - The company has various related party transactions categorized as non-operating, with significant amounts recorded under other receivables [2] - The total receivables from related parties at the end of the reporting period reached 10,804.03 million yuan, indicating a high level of intercompany transactions [2] - The financial data reflects the company's reliance on its subsidiaries for cash flow and the potential implications for liquidity management [2]

Core Points - The document outlines the management of resignations for directors and senior management at Dongguan Darui Electronics Co., Ltd, aiming to maintain corporate governance stability and protect shareholder rights [1][2] Group 1: Resignation Procedures - Directors and senior management can resign before their term ends by submitting a written report, with the resignation effective upon receipt by the board [3] - If a director's term ends without re-election, they automatically resign upon the resolution of the new board [4] - The company can dismiss non-employee directors and senior management immediately upon board resolution [4] Group 2: Conditions for Holding Office - Certain conditions disqualify individuals from serving as directors or senior management, including legal prohibitions and market bans imposed by regulatory authorities [5] - If a director or senior management encounters disqualifying conditions during their term, they must cease duties immediately, and the company must terminate their position within 30 days [5] Group 3: Handover Procedures - Departing directors and senior management must conduct a handover with successors, ensuring continuity of business operations and transferring all relevant documents and assets [6] - The board may require an internal audit for departing individuals with economic responsibilities [6] Group 4: Post-Departure Obligations - Departing directors and senior management retain obligations of loyalty and confidentiality for two years post-departure, including adherence to any non-compete agreements [7] - They are restricted from transferring more than 25% of their shares within six months after leaving the company [7] Group 5: Accountability and Compensation - The company has a mechanism to reclaim performance bonuses from senior management if financial misconduct is later confirmed [8] - The board's audit committee will review any breaches of obligations by departing individuals and determine appropriate accountability measures [9]

Group 1 - The board of directors of Dongguan Darui Electronics Co., Ltd. held its fourth meeting on August 13, 2025, to discuss various resolutions [1] - The board confirmed that the preparation of the 2025 semi-annual report and its summary complies with relevant laws and regulations, accurately reflecting the company's actual situation [1][2] - The board approved the special report on the management and actual use of raised funds, confirming compliance with regulatory rules [2][3] Group 2 - The company revised the General Manager's Work Guidelines to enhance governance structure and clarify responsibilities [3][4] - The Investor Relations Management System was updated to improve communication with investors and protect their rights [4][5] - The Information Disclosure Management System was revised to ensure accurate and timely disclosure of information [5][6] Group 3 - The Internal Control Management System was updated to strengthen internal controls and governance [6][7] - The Board Secretary's Work Guidelines were revised to enhance the role of the board secretary [7][8] - The Internal Audit System was revised to improve audit quality and risk management [8][9] Group 4 - The company updated the Subsidiary Management Guidelines to enhance management of subsidiaries [9] - The Insider Information Registration Management System was revised to prevent misuse of insider information [6][7] - The Major Information Internal Reporting System was updated to ensure timely and accurate internal reporting of significant information [7][8] Group 5 - The Financial Derivatives Trading Management System was revised to establish effective risk prevention mechanisms [8][9] - The Information Disclosure Suspension and Exemption Management System was updated to ensure compliance with disclosure obligations [9]

Core Viewpoint - Dongguan Tarry Electronics Co., Ltd. reported a significant increase in revenue and net profit for the first half of 2025, driven by strong demand in the consumer electronics and new energy sectors, with a focus on lightweight materials and automation solutions [1][2]. Financial Performance - The company's operating revenue reached approximately 1.40 billion yuan, representing a year-on-year increase of 28.04% compared to 1.10 billion yuan in the same period last year [2]. - Net profit attributable to shareholders was approximately 132.08 million yuan, up 25.32% from 105.39 million yuan in the previous year [2]. - The net cash flow from operating activities was approximately 80.92 million yuan, reflecting a 23.80% increase from 65.36 million yuan in the previous year [2]. Business Overview - The company focuses on precision functional components, structural components, and automation equipment, aiming to become a core supplier for leading clients in the "edge AI" and "new energy" sectors [3][4]. - The global edge AI market is expected to experience rapid growth from 2025 to 2029, driven by advancements in technology and increasing demand for high-performance, lightweight, and integrated components [3][4]. Industry Trends - The new energy vehicle market saw global sales exceed 9.1 million units in the first half of 2025, marking a 28% year-on-year increase, which significantly boosted demand for power batteries [3]. - The photovoltaic energy storage market also experienced substantial growth, with global battery storage system installations reaching 86.7 GWh, a 54% increase year-on-year [4]. Product and Service Offerings - The company specializes in non-standard products, including functional components for consumer electronics, which are used in smartphones, laptops, and wearable devices [5][6]. - In the new energy sector, the company produces precision structural and functional components, including high-performance electrical connectors and insulation materials for electric vehicles and energy storage systems [6][7]. Competitive Advantages - The company has established a stable customer base, including major international brands such as Apple, Sony, and Tesla, which enhances its market position [10][11]. - Continuous innovation in materials technology and strategic acquisitions, such as the acquisition of Weiste, have strengthened the company's capabilities in lightweight materials solutions [9][12]. Operational Strategy - The company employs a flexible production system driven by customer orders, ensuring efficient production planning and quality management [7][8]. - A digital supply chain management system has been implemented to enhance procurement processes and quality control, contributing to overall operational efficiency [8][13].

东莞市达瑞电子股份有限公司 2025 年半年度报告 摘要 证券代码：300976 证券简称：达瑞电 子 公告编号：2025-067 一、重要提示 | 鼎贰号 | | | | | | | | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 企业管 | | | | | | | | | | | | | | | | | 理合伙 | 境内非国有 | | | | | | | | | 2.24% | | 2,982,672 | | 0 | 不适 | | 用 | | | | | | | | | | | | 0 | | | | | 法人 | | | | | | | | | | | | | | | | | 企业 | | | | | | | | | | | | | | | | | （有限 | | | | | | | | | | | | | | | | | 合伙） | | | | | | | | | | | | | | | | | 高冬 | 境内自然人 ...

（编辑 任世碧） 证券日报网讯 8月14日晚间，达瑞电子发布2025年半年度报告摘要称，公司2025年半年度实现营业收入 为1，404，898，677.67元，同比增长28.04%；实现归属于上市公司股东的净利润为132，082，236.81 元，同比增长25.32%。 ...

Core Insights - Darui Electronics reported a strong performance in the first half of the year, with revenue reaching 1.405 billion yuan, a year-on-year increase of 28.04%, and a net profit of 132 million yuan, up 25.32% [1] - The company has shown significant improvement in operational quality, with operating cash flow increasing by 23.80% to 80.9178 million yuan [1] Business Segments - In the consumer electronics segment, revenue was 807 million yuan, growing by 5.91%, with structural components performing particularly well, achieving 432 million yuan in revenue, a 39.07% increase [1] - The new energy business exhibited remarkable growth, with revenue of 585 million yuan, up 81.32%, driven by large-scale orders from key customers and an increase in high-value products [2] Strategic Moves - Darui Electronics announced plans to acquire an 80% stake in Dongguan Weiste New Materials Technology Co., Ltd. for 164 million yuan, which specializes in carbon fiber products [2] - This acquisition aims to integrate a comprehensive "glass fiber-carbon fiber" solution and advance the development of lightweight materials to meet the demands of high-end consumer electronics and AI sectors [2] Technological Expansion - Weiste is expanding its technology applications into fields such as brain-machine interfaces, providing carbon fiber components to meet lightweight requirements [3] - The company aims to become a comprehensive solution provider for lightweight materials in the AI sector through strategic acquisitions and innovative research and development [3]

Core Viewpoint - The company, Darui Electronics, reported that its production bases are operating normally with good overall capacity utilization, indicating a strong alignment with customer demand [1] Group 1 - The company confirmed that production and sales coordination is currently smooth [1] - The company will disclose its specific performance for the second quarter in its 2025 semi-annual report and related announcements on the Giant Tide Information Network [1]