深圳市利和兴股份有限公司 董事及高级管理人员离职管理制度 第一章 总则 第一条 为了规范深圳市利和兴股份有限公司（以下简称"公司"）治理，加强 公司董事、高级管理人员的离职管理，保障公司治理稳定性及股东合法权益， 根据《中华人民共和国公司法》（以下简称"《公司法》"）《上市公司章程 指引》等有关法律、法规和规范性文件和《深圳市利和兴股份有限公司章程》（以 下简称"《公司章程》"）的规定，制定本制度。 第二条 本制度适用于公司全体董事（含独立董事）及高级管理人员的辞任、 任期届满、解任等离职情形。 第二章 离职情形与生效条件 第三条 董事可以在任期届满以前提出辞任。董事辞任应向公司提交书面辞职 报告，公司收到辞职报告之日起辞任生效，公司将在两个交易日内披露有关情况。 如因董事的辞任导致公司董事会成员低于法定最低人数时，或者独立董事辞职 导致独立董事人数少于董事会成员的三分之一、独立董事中没有会计专业人士、专 门委员会中独立董事所占的比例不符合法律、行政法规、部门规章和《公司章程》 规定，辞职报告应当在下任董事填补因其辞任产生的空缺后方能生效。在改选出的 董事就任前，原董事仍应当依照法律、行政法规、部门规章和《公 ...

证券代码：301013 证券简称：利和兴 公告编号：2025-047 深圳市利和兴股份有限公司 关于非独立董事辞任暨选举第四届董事会职工代表董事的公告 根据《中华人民共和国公司法》《深圳证券交易所上市公司自律监管指引第 2 号—— 创业板上市公司规范运作》及《公司章程》等法律法规、规范性文件等相关规定，为更好 地完善治理层监督机制，持续提升公司治理水平，公司于 2025 年 8 月 7 日召开职工代表 大会，经全体与会职工代表审议表决，同意选举李丽红女士为公司第四届董事会职工代表 董事（简历详见本公告附件）。李丽红女士将与其他董事共同组成公司第四届董事会，任 期自职工代表大会选举通过之日起至公司第四届董事会任期届满之日止。 李丽红女士当选公司职工代表董事后，公司第四届董事会中担任高级管理人员以及由 职工代表担任的董事人数合计未超过公司董事总数的二分之一，符合相关法律法规、规范 性文件和《公司章程》的规定。 特此公告。 深圳市利和兴股份有限公司董事会 2025 年 8 月 7 日 1/2 附件：第四届董事会职工代表董事简历 本公司及董事会全体成员保证信息披露的内容真实、准确和完整，没有虚假记载、 误导性陈述或重 ...

深圳市利和兴股份有限公司 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 编制单位：深圳市利和兴股份有限公司 单位：人民币万元 | | | 占用方与上 | 上市公司 | 2025 年期 | 2025 年半年度占 | 年半 2025 年度占用 | 年半 2025 | 年半 2025 | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 非经营性资金占用 | 资金占用方名称 | 市公司的关 联关系 | 核算的会计科 目 | 初占用资金 余额 | 用累计发生金额 （不含利息） | 资金的利 息（如 | 年度偿还 累计发生 | 年度期末 占用资金 | 占用形成 原因 | 占用性质 | | | | | | | | | 金额 | 余额 | | | | | | | | | | 有） | | | | | | 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 | ...

证券代码：301013 证券简称：利和兴 公告编号：2025-046 深圳市利和兴股份有限公司 关于调整公司治理结构并修订《公司章程》以及制定、修订 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、准确和完整，没有虚假记 载、误导性陈述或重大遗漏。 深圳市利和兴股份有限公司（以下简称"公司"）于 2025 年 8 月 7 日召开第四届 董事会第十四次会议、第四届监事会第十二次会议，审议通过了《关于调整公司治理结 构并修订<公司章程>以及制定、修订部分治理制度的议案》。本议案尚需提交公司 2025 年第一次临时股东大会审议。现将具体情况公告如下： 1/44 | 序号 | 《公司章程》修订前条款 | 《公司章程》修订后条款 | | --- | --- | --- | | | 第一条 为维护深圳市利和兴股份有限 | 第一条 为维护深圳市利和兴股份有限 | | | 公司（以下简称"公司"）、股东、和债权 | 公司（以下简称"公司"）、股东、职工和 | | | 人的合法权益，规范公司的组织和行为，根 | 债权人的合法权益，规范公司的组织和行为， | | | 据《中华人民共和国公司法》（以下简称 | 根 ...

深圳市利和兴股份有限公司 2025 年半年度募集资金存放与使用情况的专项报告 本公司及董事会全体成员保证信息披露的内容真实、准确和完整，没有虚假记 载、误导性陈述或重大遗漏。 深圳市利和兴股份有限公司（以下简称"公司"）根据《上市公司募集资金监管规 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》及 公司《募集资金管理制度》等有关规定，编制了公司 2025 年半年度募集资金存放与使 用情况专项报告，具体情况如下： 一、募集资金基本情况 1、扣除发行费用后的实际募集资金金额、资金到账时间 经中国证券监督管理委员会《关于同意深圳市利和兴股份有限公司首次公开发行股 票注册的批复》（证监许可[2021]1633 号）同意注册，公司首次向社会公开发行人民币 普通股（A 股）38,957,176 股，每股发行价格 8.72 元，新股发行募集资金总额为 339,706,574.72 元，扣除发行费用 58,971,419.53 元（不含增值税）后，募集资金净额为 280,735,155.19 元。 2021 年 6 月 23 日，民生证券股份有限公司将扣除承销费和部分保荐费共计 34,641, ...

本公司及董事会全体成员保证信息披露的内容真实、准确和完整，没有虚假记 载、误导性陈述或重大遗漏。 深圳市利和兴股份有限公司（以下简称"公司"）第四届董事会第十四次会议决议定 于 2025 年 8 月 25 日（星期一）召开公司 2025 年第一次临时股东大会（以下简称"本 次股东大会"）。现将本次股东大会相关事宜通知如下： 一、召开会议的基本情况 1、股东大会届次：2025 年第一次临时股东大会 2、股东大会的召集人：公司第四届董事会 3、会议召开的合法、合规性：公司于 2025 年 8 月 7 日召开第四届董事会第十四次 会议，审议通过了《关于提请召开公司 2025 年第一次临时股东大会的议案》。本次股东 大会的召开符合有关法律、行政法规、部门规章、规范性文件、深圳证券交易所业务规 则及《公司章程》的相关规定。 证券代码：301013 证券简称：利和兴 公告编号：2025-043 深圳市利和兴股份有限公司 关于召开 2025 年第一次临时股东大会的通知 4、会议召开的日期、时间： （1）现场会议召开时间：2025 年 8 月 25 日（星期一）下午 14:00 （2）网络投票时间：通过深圳证券交易所交易系统 ...

证券代码：301013 证券简称：利和兴 公告编号：2025-042 深圳市利和兴股份有限公司 第四届监事会第十二次会议决议公告 本公司及监事会全体成员保证信息披露的内容真实、准确和完整，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 深圳市利和兴股份有限公司（以下简称"公司"）第四届监事会第十二次会议通知于 2025 年 8 月 4 日以电子邮件等通讯方式发出，于 2025 年 8 月 7 日在公司汇德会议室以 现场方式召开。会议由公司监事会主席赖传坤女士主持，应出席监事 3 人，实际出席监 事 3 人。 本次会议的召集、召开和表决程序符合有关法律、法规和《公司章程》的规定。 二、监事会会议审议情况 与会监事审议了以下议案： （一）审议通过《<2025 年半年度报告>全文及其摘要》 经审议，监事会认为：公司《2025 年半年度报告》《2025 年半年度报告摘要》的编 制和审核程序符合相关法律法规和深圳证券交易所的规定，报告内容真实、准确、完整 地反映了公司 2025 年半年度的财务状况及经营成果。监事会保证公司《2025 年半年度 报告》及其摘要内容真实、准确、完整，不存在任何虚假记载、误导 ...

证券代码：301013 证券简称：利和兴 公告编号：2025-041 深圳市利和兴股份有限公司 第四届董事会第十四次会议决议公告 本公司及董事会全体成员保证信息披露的内容真实、准确和完整，没有虚假记 载、误导性陈述或重大遗漏。 一、董事会会议召开情况 深圳市利和兴股份有限公司（以下简称"公司"）第四届董事会第十四次会议通知 于 2025 年 8 月 4 日以电子邮件等通讯方式发出，于 2025 年 8 月 7 日在公司汇德会议室 以现场方式召开。会议由公司董事长林宜潘先生主持，应出席董事 7 人，实际出席董事 7 人，公司全体监事及高级管理人员列席了会议。 本次会议的召集、召开和表决程序符合有关法律、法规和《公司章程》的规定。 二、董事会会议审议情况 与会董事审议了以下议案： （一）审议通过《<2025 年半年度报告>全文及其摘要》 董事会认为：公司《2025 年半年度报告》《2025 年半年度报告摘要》的编制和审 核程序符合相关法律法规和深圳证券交易所的规定，报告内容真实、准确、完整地反映 了公司 2025 年半年度的财务状况及经营成果。董事会保证公司《2025 年半年度报告》 及其摘要内容真实、准确、完整 ...

Group 1 - The company, Lihexing (301013.SZ), plans to raise a total of no more than 167.50 million yuan through a private placement, including issuance costs [1] - The net proceeds from the fundraising, after deducting issuance costs, will be entirely used for the research and industrialization of precision components for semiconductor equipment, as well as to supplement working capital [1]

[Important Notice, Table of Contents, and Definitions](index=2&type=section&id=Item%201.%20Important%20Notice%2C%20Table%20of%20Contents%2C%20and%20Definitions) The company's board and management ensure report accuracy, with forward-looking statements not being commitments, and no dividend distribution planned for H1 2025 - The company's board of directors, supervisory board, and senior management ensure the truthfulness, accuracy, and completeness of the report, bearing legal responsibility; forward-looking statements do not constitute substantive commitments[6](index=6&type=chunk)[7](index=7&type=chunk) - The company plans not to distribute cash dividends, bonus shares, or convert capital reserves into share capital for the 2025 half-year period[8](index=8&type=chunk) [Company Profile and Key Financial Indicators](index=6&type=section&id=Item%202.%20Company%20Profile%20and%20Key%20Financial%20Indicators) This section provides an overview of the company, its key financial performance, and details on non-recurring gains and losses [Company Profile](index=6&type=section&id=Item%202.1.%20Company%20Profile) Shenzhen Lihe Technology Co., Ltd. (stock code: 301013) is a company listed on the Shenzhen Stock Exchange, with Lin Yipan as its legal representative Company Basic Information | Item | Content | | :--- | :--- | | Stock Abbreviation | Lihe Technology | | Stock Code | 301013 | | Listing Exchange | Shenzhen Stock Exchange | | Company Full Chinese Name | 深圳市利和兴股份有限公司 | | Legal Representative | Lin Yipan | [Key Accounting Data and Financial Indicators](index=7&type=section&id=Item%202.4.%20Key%20Accounting%20Data%20and%20Financial%20Indicators) During the reporting period, the company's performance significantly declined, with revenue decreasing by 30.78% year-on-year, net profit attributable to shareholders turning from profit to loss, down 382.13% to a net loss of approximately **CNY 37.94 million**, and net cash flow from operating activities turning negative, down 179.34% year-on-year Key Financial Indicators for H1 2025 | Indicator | Current Period | Prior Period | Year-on-Year Change | | :--- | :--- | :--- | :--- | | Operating Revenue (CNY) | 186,701,093.08 | 269,718,669.13 | -30.78% | | Net Profit Attributable to Shareholders (CNY) | -37,935,548.61 | 13,445,990.52 | -382.13% | | Net Profit Attributable to Shareholders (Excluding Non-recurring Gains/Losses) (CNY) | -38,594,767.63 | 11,431,983.96 | -437.60% | | Net Cash Flow from Operating Activities (CNY) | -18,007,557.16 | 22,697,233.58 | -179.34% | | Basic Earnings Per Share (CNY/share) | -0.16 | 0.06 | -366.67% | | Weighted Average Return on Net Assets | -4.60% | 1.59% | -6.19% | | **Asset Indicators** | **End of Current Period** | **End of Prior Year** | **Year-on-Year Change** | | Total Assets (CNY) | 1,565,538,595.91 | 1,530,123,755.79 | 2.31% | | Net Assets Attributable to Shareholders (CNY) | 794,721,379.44 | 843,747,994.57 | -5.81% | [Non-recurring Gains and Losses Items and Amounts](index=7&type=section&id=Item%202.6.%20Non-recurring%20Gains%20and%20Losses%20Items%20and%20Amounts) During the reporting period, the company's total non-recurring gains and losses amounted to **CNY 0.66 million**, primarily from government grants and entrusted investment income Non-recurring Gains and Losses Items | Item | Amount (CNY) | | :--- | :--- | | Gains/Losses from Disposal of Non-current Assets | -74,638.14 | | Government Grants Recognized in Current Profit/Loss | 674,357.75 | | Gains/Losses from Entrusted Investments or Asset Management | 149,240.21 | | Other Non-operating Income and Expenses | 16,119.17 | | **Total** | **659,219.02** | [Management Discussion and Analysis](index=9&type=section&id=Item%203.%20Management%20Discussion%20and%20Analysis) This section provides a detailed analysis of the company's main operations, core competencies, financial performance, asset and liability status, investment activities, subsidiary performance, and identified risks with corresponding countermeasures [Main Business Activities During the Reporting Period](index=9&type=section&id=Item%203.1.%20Main%20Business%20Activities%20During%20the%20Reporting%20Period) The company's main business comprises intelligent equipment and electronic components, with the former focusing on automation and intelligent device R&D for mobile intelligent terminals and new energy vehicles, while the latter, via Lihe Technology Electronics, specializes in MLCC products, achieving AEC-Q200 automotive-grade certification in March 2025 - The company has expanded into the electronic components sector, with MLCC as its main product, having completed AEC-Q200 automotive-grade certification and focusing on developing high-value medium-high voltage and high-frequency microwave products[33](index=33&type=chunk)[41](index=41&type=chunk) - The intelligent equipment business primarily serves mobile intelligent terminals, new energy vehicles, servers, and digital energy sectors, with clients including Huawei, Honor, BYD, and ZTE[36](index=36&type=chunk)[37](index=37&type=chunk) [Core Competitiveness Analysis](index=15&type=section&id=Item%203.2.%20Core%20Competitiveness%20Analysis) The company's core competitiveness stems from its strong technological capabilities, skilled talent, premium client base, robust quality control, comprehensive service, and reputable brand, recognized as a national "Little Giant" enterprise with extensive intellectual property - The company was recognized as a national "Little Giant" enterprise specializing in niche, sophisticated, and new products in 2024[55](index=55&type=chunk) - As of June 30, 2025, the company holds **44 invention patents**, **143 utility model patents**, **28 design patents**, and **275 software copyrights**[55](index=55&type=chunk) - Subsidiary Lihe Technology Electronics obtained IATF 16949:2016 quality management system certification, enhancing the quality control of its MLCC products[58](index=58&type=chunk) [Main Business Analysis](index=17&type=section&id=Item%2.3.%20Main%20Business%20Analysis) During the reporting period, the company's operating revenue decreased by 30.78% year-on-year, primarily due to a 58.47% drop in intelligent manufacturing equipment revenue; despite a 59.16% increase in electronic components revenue, its **-36.19% gross margin** significantly impacted overall profitability, and financial expenses rose by 31.67% due to increased interest costs Operating Performance by Product | Product or Service | Operating Revenue (CNY) | Operating Cost (CNY) | Gross Margin | YoY Change in Operating Revenue | | :--- | :--- | :--- | :--- | :--- | | Intelligent Manufacturing Equipment | 78,062,981.05 | 71,411,228.21 | 8.52% | -58.47% | | Special Accessories | 42,673,282.72 | 40,754,262.63 | 4.50% | 15.71% | | Electronic Components | 56,305,329.30 | 76,680,308.61 | -36.19% | 59.16% | - The decrease in operating revenue was primarily due to a reduction in intelligent manufacturing equipment product revenue compared to the prior year[62](index=62&type=chunk) [Non-main Business Analysis](index=18&type=section&id=Item%2.4.%20Non-main%20Business%20Analysis) Non-main business activities significantly impacted profit during the period, with a **CNY 7.01 million** reversal of credit impairment losses due to sales collection, a **CNY 5.15 million** asset impairment loss from inventory write-downs, and other income primarily from government grants and VAT refunds Non-main Business Gains and Losses Items | Item | Amount (CNY) | Percentage of Total Profit | Reason for Formation | | :--- | :--- | :--- | :--- | | Investment Income | 149,240.21 | -0.28% | Investment income from cash management products | | Asset Impairment | -5,150,894.16 | 9.79% | Inventory write-down provision | | Credit Impairment Loss | 7,007,490.41 | -13.32% | Due to collection of some sales receivables | | Other Income | 3,754,555.90 | -7.14% | Government grants and immediate VAT refunds | [Assets and Liabilities Analysis](index=18&type=section&id=Item%2.5.%20Assets%20and%20Liabilities%20Analysis) As of the end of the reporting period, the company's total assets were **CNY 1.57 billion**, a 2.31% increase from the prior year-end, with accounts receivable, inventory, fixed assets, and construction in progress forming a significant portion, and **CNY 480.17 million** in restricted assets primarily pledged for bank credit and finance leases - As of the end of the reporting period, accounts receivable, inventory, fixed assets, and construction in progress collectively accounted for **81.24% of total assets**[68](index=68&type=chunk) Restricted Assets at Period End | Item | Book Value at Period End (CNY) | Type of Restriction | | :--- | :--- | :--- | | Cash and Bank Balances | 19,406,565.49 | Bill deposit | | Fixed Assets | 193,910,642.25 | Bank credit/finance lease collateral | | Intangible Assets | 15,414,121.90 | Bank credit collateral | | Construction in Progress | 251,436,279.23 | Bank credit/finance lease collateral | | **Total** | **480,167,608.87** | | [Investment Analysis](index=19&type=section&id=Item%2.6.%20Investment%20Analysis) During the reporting period, the company's investment amounted to **CNY 33.33 million**, a 390.14% year-on-year increase, primarily for the Jiangmen Intelligent Manufacturing Equipment Base self-construction project; **CNY 277 million** of IPO proceeds have been utilized (98.64%), mainly for the intelligent equipment manufacturing base, R&D center, and working capital, with an additional **CNY 155 million** of self-owned funds used for entrusted wealth management - The Jiangmen Intelligent Manufacturing Equipment Base project has utilized **CNY 175 million** in raised funds, achieving 100% investment progress, but has not yet reached expected benefits due to unreleased production capacity[81](index=81&type=chunk)[82](index=82&type=chunk) - Due to delays in early-stage approval and infrastructure construction, the "R&D Center Construction Project" estimated completion date has been postponed to October 28, 2025[82](index=82&type=chunk) - During the reporting period, the company used **CNY 155 million** of its own funds to purchase bank and brokerage wealth management products, all of which have matured[86](index=86&type=chunk) [Analysis of Major Holding and Participating Companies](index=24&type=section&id=Item%2.8.%20Analysis%20of%20Major%20Holding%20and%20Participating%20Companies) During the reporting period, among major subsidiaries, Lihe Technology Jiangmen incurred a loss of **CNY 3.13 million**, while Lihe Technology Electronics, responsible for electronic components, suffered a significant net loss of **CNY 23.17 million**, contributing substantially to the company's overall loss; the company also established Lihehui and acquired Suzhou Yangzefeng Precision Technology Co., Ltd Operating Performance of Major Subsidiaries (Unit: CNY 10,000) | Company Name | Main Business | Operating Revenue | Operating Profit | Net Profit | | :--- | :--- | :--- | :--- | :--- | | Lihe Technology Jiangmen | R&D, production, and sales of automation equipment | 4,212.14 | -416.62 | -312.63 | | Lihe Technology Electronics | R&D, production, and sales of new electronic components | 2,126.77 | -3,188.95 | -2,316.50 | [Risks and Countermeasures](index=25&type=section&id=Item%2.10.%20Risks%20and%20Countermeasures) The company faces multiple risks, including intensified market competition, underperforming electronic components business, declining performance, large accounts receivable and inventory, fluctuating operating cash flow, gross margin volatility, and rising asset-liability ratio; it plans to address these through enhanced core competitiveness, cost optimization, market penetration, strengthened accounts receivable management, and diversified financing channels - The company explicitly states that its electronic components business is still small-scale, lacks significant industry standing, and its products have not yet gained a clear competitive advantage, posing a risk of underperformance[94](index=94&type=chunk) - The company's net profit attributable to shareholders for the past three years and the current reporting period was **-CNY 41.36 million**, **-CNY 37.73 million**, **CNY 7.08 million**, and **-CNY 37.94 million**, respectively, indicating a risk of continuous performance decline[95](index=95&type=chunk) - As of the end of the reporting period, the company's asset-liability ratio was **49.50%**, showing an upward trend compared to previous years, which brings certain debt repayment pressure and the risk of increased financial expenses[100](index=100&type=chunk) [Corporate Governance, Environment, and Society](index=28&type=section&id=Item%204.%20Corporate%20Governance%2C%20Environment%2C%20and%20Society) This section details the company's corporate governance practices, including equity incentive plans, and its commitment to environmental and social responsibilities [Implementation of Equity Incentive Plans](index=28&type=section&id=Item%2.3.%20Implementation%20of%20Equity%20Incentive%20Plans%2C%20Employee%20Stock%20Ownership%20Plans%2C%20or%20Other%20Employee%20Incentive%20Measures) The company continued its 2023 restricted stock incentive plan, approving the cancellation of **1.61 million** unvested restricted shares in April 2025, aiming to attract and retain talent while motivating employees - On April 24, 2025, the company's board of directors and supervisory board approved the cancellation of **1.6124 million** restricted shares, including both initial and reserved grants, that had been granted but not yet vested[118](index=118&type=chunk) [Social Responsibility](index=30&type=section&id=Item%2.5.%20Social%20Responsibility) During the reporting period, the company actively fulfilled its social responsibilities, protecting investor and employee rights, maintaining client and supplier relations, prioritizing environmental protection and safety, and engaging in public welfare, having established quality, environmental, and occupational health and safety management systems - The company has obtained ISO 9001 quality management, ISO 14001 environmental management, and ISO 45001 occupational health and safety management system certifications, emphasizing environmental protection and production safety[124](index=124&type=chunk) [Significant Matters](index=31&type=section&id=Item%205.%20Significant%20Matters) This section outlines the company's significant events, including litigation, major contracts and their performance, and other material developments [Litigation Matters](index=31&type=section&id=Item%2.8.%20Litigation%20Matters) During the reporting period, the company had no major litigation or arbitration, only minor lawsuits totaling **CNY 9.75 million** that are not expected to significantly impact operations - As of the report disclosure date, the company has other litigation matters with a total involved amount of **CNY 9.7474 million**, which are currently progressing as per procedure[133](index=133&type=chunk) [Significant Contracts and Their Performance](index=33&type=section&id=Item%2.12.%20Significant%20Contracts%20and%20Their%20Performance) During the reporting period, the company provided significant guarantees for its subsidiaries; as per the 2024 annual general meeting resolution, the total guarantee limit for 2025 is **CNY 1.5 billion**, with actual outstanding guarantees to subsidiaries totaling **CNY 190 million** as of the period end - The company's total financing and guarantee limit applied from financial institutions for 2025 is expected to not exceed **CNY 1.5 billion**[150](index=150&type=chunk) - As of the end of the reporting period, the company's total actual guarantee balance for its subsidiaries amounted to **CNY 189.815 million**[148](index=148&type=chunk) [Other Significant Matters](index=35&type=section&id=Item%2.13.%20Explanation%20of%20Other%20Significant%20Matters) On June 18, 2024, the company announced receiving a bid award notice from a prominent new energy vehicle company for approximately **CNY 123 million** (excluding tax); as of the report disclosure date, cumulative orders under this project totaled approximately **CNY 27.573 million** (including tax) - The company received a bid award notice from a well-known new energy vehicle company, with a winning bid amount of approximately **CNY 123 million** (excluding tax)[151](index=151&type=chunk) - As of the report disclosure date, the aforementioned winning bid project has resulted in cumulative orders of approximately **CNY 27.573 million** (including tax)[151](index=151&type=chunk) [Share Changes and Shareholder Information](index=36&type=section&id=Item%206.%20Share%20Changes%20and%20Shareholder%20Information) This section details changes in the company's share capital structure and provides an overview of its shareholder base and major holdings [Share Change Information](index=36&type=section&id=Item%2.1.%20Share%20Change%20Information) During the reporting period, the company's total share capital remained unchanged at **233,743,056 shares**, with restricted shares accounting for **19.04%** and unrestricted shares for **80.96%** Share Structure | Share Type | Quantity | Proportion | | :--- | :--- | :--- | | Restricted Shares | 44,501,418 | 19.04% | | Unrestricted Shares | 189,241,638 | 80.96% | | **Total Share Capital** | **233,743,056** | **100.00%** | [Shareholder Numbers and Shareholding Information](index=37&type=section&id=Item%2.3.%20Shareholder%20Numbers%20and%20Shareholding%20Information) As of the end of the reporting period, the company had **17,141** common shareholders, with actual controller Mr. Lin Yipan holding **23.45%** as the largest shareholder, and China Merchants Bank - Penghua Carbon Neutral Theme Mixed Securities Investment Fund being a new top ten shareholder with **1.14%** holding - The total number of common shareholders at the end of the reporting period was **17,141**[157](index=157&type=chunk) Top Five Shareholders' Shareholding | Shareholder Name | Shareholding Percentage | Number of Shares Held at Period End | | :--- | :--- | :--- | | Lin Yipan | 23.45% | 54,806,068 | | Huang Yueming | 1.68% | 3,915,900 | | Chen Chunlian | 1.65% | 3,850,000 | | Lihe Technology Investment | 1.19% | 2,778,978 | | China Merchants Penghua Fund | 1.14% | 2,666,250 | [Bond-Related Information](index=40&type=section&id=Item%207.%20Bond-Related%20Information) The company had no bond-related activities or information to report during the period - During the reporting period, the company had no bond-related information[163](index=163&type=chunk) [Financial Report](index=41&type=section&id=Item%208.%20Financial%20Report) This section presents the company's financial statements, including the audit status, key financial performance, and detailed notes to the consolidated financial statements [Audit Report](index=41&type=section&id=Item%2.1.%20Audit%20Report) The company's 2025 half-year financial report is unaudited - The company's half-year financial report is unaudited[165](index=165&type=chunk) [Financial Statements](index=41&type=section&id=Item%2.2.%20Financial%20Statements) The financial statements indicate the company faced operational pressure in H1 2025, with total assets of **CNY 1.57 billion**, total liabilities of **CNY 775 million**, an asset-liability ratio of **49.5%**, operating revenue of **CNY 187 million**, and a net loss of **CNY 38.44 million**; net cash flow from operating activities was **-CNY 18.01 million**, from investing activities **-CNY 20.73 million**, and from financing activities **CNY 37.10 million** Consolidated Income Statement Core Data (H1 2025) | Item | Amount (CNY) | | :--- | :--- | | Total Operating Revenue | 186,701,093.08 | | Total Operating Cost | 245,033,292.27 | | Operating Profit | -52,635,398.20 | | Total Profit | -52,608,031.63 | | Net Profit | -38,436,889.68 | | Net Profit Attributable to Parent Company Shareholders | -37,935,548.61 | Consolidated Cash Flow Statement Core Data (H1 2025) | Item | Amount (CNY) | | :--- | :--- | | Net Cash Flow from Operating Activities | -18,007,557.16 | | Net Cash Flow from Investing Activities | -20,732,004.34 | | Net Cash Flow from Financing Activities | 37,103,929.00 | | Net Increase in Cash and Cash Equivalents | -1,639,446.56 | [Notes to Consolidated Financial Statements](index=76&type=section&id=Item%2.7.%20Notes%20to%20Consolidated%20Financial%20Statements) The notes to financial statements provide detailed information on key accounts, showing end-of-period accounts receivable of **CNY 402 million** with a **CNY 50.02 million** bad debt provision, and inventory book value of **CNY 277 million**, a 26% increase from the beginning of the period, with write-downs for raw materials, finished goods, and goods in transit; negative gross profit from main operations is the primary cause of the loss - At period-end, accounts receivable book balance was **CNY 402 million**, with **43.9%** aged over 1 year, and a bad debt provision balance of **CNY 50.016 million**[316](index=316&type=chunk)[318](index=318&type=chunk) - At period-end, inventory book value was **CNY 277 million**, a **25.9% increase** from **CNY 220 million** at the beginning of the period, with a **CNY 5.73 million** inventory write-down provision recognized this period[362](index=362&type=chunk)[363](index=363&type=chunk) - During the reporting period, the company's main business revenue was **CNY 185 million**, and main business cost was **CNY 194 million**, resulting in a negative gross profit for the main business[451](index=451&type=chunk)