Group 1 - The company plans to invest in a production base in Malaysia through its wholly-owned subsidiary, Jin Sanjiang (Malaysia) [1] - The project aims to promote the development of a green, low-carbon, high-performance silica for tire applications [1] - The total investment for the project is expected to not exceed 600 million yuan [1]

金三江（肇庆）硅材料股份有限公司 2025 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：金三江（肇庆）硅材料股份有限公司 | | | | | | | | | | | | | 单位：万元 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | 资金占用方 | 占用方与上市公 | 上市公司核算 | 2025 年期初占 | 2025 半年度占 | 2025 | 半年度占 | 2025 半年度偿 | 2025 年 6 | 月 | 30 日 | 占用形成 | | | 非经营性资金占用 | | | | | 用累计发生金 | | 用资金的利息 | 还累计发生金 | | | | | 占用性质 | | | 名称 | 司的关联关系 | 的会计科目 | 用资金余额 | 额（不含利息） | | (如有) | 额 | | 占用资金余额 | | 原因 | | | 控股股东、实际控制人及其 | | | | | | | | | | | | | | | 附属企业 | | | | | | | | ...

证券代码：301059 证券简称：金三江 公告编号：2025-049 金三江（肇庆）硅材料股份有限公司 关于公司对外投资公告 特别提示： 1、本次投资事项在境内外尚需取得所必须的主管部门的备案或审批，能否 取得相关的备案或审批，以及最终取得备案或审批的时间存在不确定性的风险； 本次建设计划、建设内容及规模可能根据外部环境变化、业务发展需要等情况作 相应调整，且因马来西亚的政策、法律、商业环境与国内存在差异，有一定的经 营风险和管理风险；本次项目投入资金的来源为自有资金或自筹资金，若存在融 资进度不达预期，可能导致项目延期实施或融资成本上升的风险。本次对外投资 的实施尚需一定的时间，项目建成后对公司业绩的影响取决于项目开展情况以及 未来市场情况，存在收益不及预期的风险，请广大投资者注意投资风险。 2、根据《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》等相关规定，以及现阶段 掌握资料，本次交易预计不构成关联交易，也不构成《上市公司重大资产重组管 理办法》规定的重大资产重组。 3、公司将根据交易事项后续进展情况，按照《中华人民共和国公司法》《 深圳证券交 ...

证券代码：301059 证券简称：金三江 公告编码：2025-050 金三江（肇庆）硅材料股份有限公司 关于召开公司2025年第三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。 一、召开会议基本情况 1、股东大会届次：2025年第三次临时股东大会 2、股东大会的召集人：金三江（肇庆）硅材料股份有限公司（以下简称"公司"） 第二届董事会。公司2025年8月28日召开的第二届董事会第二十一次会议审议通过了 《关于提请召开2025年第三次临时股东大会的议案》，决定于2025年9月16日召开公 司2025年第三次临时股东大会。 3、会议召开的合法、合规性：本次股东大会会议的召集、召开符合有关法律、 行政法规、部门规章、规范性文件和《公司章程》等规定。 4、会议召开日期和时间： （1）现场会议时间：2025年9月16日（星期二）14:30 （2）网络投票时间：通过深圳证券交易所（以下简称"深交所"）交易系统进 行网络投票的具体时间为13:00-15:00；通过深交所互联网投票系统投票的具体时间 为：2025年9月16日 9:15 至 15:00 期 ...

证券代码：301059 证券简称：金三江 公告编号：2025-048 金三江(肇庆)硅材料股份有限公司 第二届监事会第十八次会议决议公告 本公司全体监事保证公告内容的真实、准确和完整，并对公告中的虚假记载、 误导性陈述或者重大遗漏承担责任。 一、监事会会议召开情况 二、监事会会议审议情况 （一）审议通过《关于<公司 2025 年半年度报告及其摘要>的议案》 经审核，监事会认为：董事会编制和审议公司 2025 年半年度报告的程序符 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。 具体内容详见同日公布在中国证监会指定信息披露网站巨潮资讯网 （www.cninfo.com.cn）上的《2025 年半年度报告》（公告编号：2025-047）和 《2025 年半年度报告摘要》（公告编号：2025-048）。 表决结果：3 票同意，0 票反对，0 票弃权。 （二）审议通过《关于公司对外投资的议案》 具体内容详见同日公布在中国证监会指定信息披露网站巨潮资讯网 （www.cninfo.com.cn）上的《关于公司对外投资的公告》（公告编号：2 ...

证券代码：301059 证券简称：金三江 公告编号：2025-047 金三江(肇庆)硅材料股份有限公司 第二届董事会第二十一次会议决议公告 本公司全体董事、高级管理人员保证公告内容的真实、准确和完整，并对公 告中的虚假记载、误导性陈述或者重大遗漏承担责任。 一、董事会会议召开情况 金三江(肇庆)硅材料股份有限公司（以下简称"公司"）第二届董事会第二十 一次会议于 2025 年 8 月 28 日（星期四）在公司会议室以现场结合通讯的方式召 开。会议通知已于 2025 年 8 月 18 日通过邮件的方式送达各位董事。本次会议应 出席董事 5 人，实际出席董事 5 人。 会议由董事长赵国法主持，监事、高管列席。会议召开符合有关法律、法 规、规章和《公司章程》的规定。经各位董事认真审议，会议形成了如下决议： 二、董事会会议审议情况 （一）审议通过《关于<公司 2025 年半年度报告及其摘要>的议案》 具体内容详见同日公布在中国证监会指定信息披露网站巨潮资讯网 （www.cninfo.com.cn）上的《2025 年半年度报告》（公告编号：2025-045）和 《2025 年半年度报告摘要》（公告编号：2025-046 ...

Group 1 - The company plans to invest in a production base in Malaysia through its wholly-owned subsidiary [1] - The total investment amount is expected to not exceed 600 million yuan [1] - The investment aims to expand overseas markets, enhance international business, and improve the company's scale and industry competitiveness [1] Group 2 - The project focuses on the production of high-performance silica for green and low-carbon tires [1] - Funding for the investment will come from the company's own funds or self-raised funds [1] - The initiative is expected to increase the company's market share in overseas markets [1]

Section I Important Notice, Table of Contents, and Definitions [Important Notice](index=2&type=section&id=Important%20Notice) The company's board, supervisors, and senior management affirm the semi-annual report's truthfulness and completeness, with no planned cash dividends or bonus shares - Company's board, supervisors, and senior management guarantee the semi-annual report's truthfulness, accuracy, and completeness, with no false records, misleading statements, or major omissions[5](index=5&type=chunk) - The company plans no cash dividends, bonus shares, or capital increase from capital reserves[7](index=7&type=chunk) [Table of Contents](index=3&type=section&id=Table%20of%20Contents) This section outlines the report's eight main chapters, covering company profile, financials, management analysis, governance, and other key aspects - The report comprises eight main chapters, from important notices to financial reports, comprehensively covering the company's operations and financial status[9](index=9&type=chunk) [Definitions](index=5&type=section&id=Definitions) Key terms and company entities are defined, specifying "Jinsanjiang" as Jinsanjiang (Zhaoqing) Silicon Material Co., Ltd., for the 2025 semi-annual period - "Jinsanjiang/Company/This Company" refers to Jinsanjiang (Zhaoqing) Silicon Material Co., Ltd[15](index=15&type=chunk) - The reporting period is from January 1, 2025, to June 30, 2025[15](index=15&type=chunk) Section II Company Profile and Key Financial Indicators [I. Company Profile](index=6&type=section&id=I.%20Company%20Profile) This section provides the company's basic information, including stock details, names, and legal representative Company Basic Information | Indicator | Content | | :--- | :--- | | Stock Abbreviation | Jinsanjiang | | Stock Code | 301059 | | Stock Listing Exchange | Shenzhen Stock Exchange | | Company's Chinese Name | Jinsanjiang (Zhaoqing) Silicon Material Co., Ltd. | | Company's Legal Representative | Zhao Guofa | [II. Contact Persons and Information](index=6&type=section&id=II.%20Contact%20Persons%20and%20Information) Contact details for the Board Secretary and Securities Affairs Representative are provided, including addresses, phone, fax, and email Company Contact Information | Position | Name | Contact Address | Phone | Fax | Email | | :--- | :--- | :--- | :--- | :--- | :--- | | Board Secretary | Ren Zhixia | No. 15 Chuangye Road, Zhaoqing High-tech Zone | 0758-3681267 | 0758-3623858 | ir@jsjgcl.com | | Securities Affairs Representative | Liu Jing | No. 15 Chuangye Road, Zhaoqing High-tech Zone | 0758-3681267 | 0758-3623858 | ir@jsjgcl.com | [III. Other Information](index=6&type=section&id=III.%20Other%20Information) No changes occurred in the company's registered address, office, website, email, or information disclosure locations during the reporting period - The company's registered address, office address, website, and email remained unchanged during the reporting period[20](index=20&type=chunk) - Information disclosure and archiving locations remained unchanged during the reporting period[21](index=21&type=chunk) - The company's registration status remained unchanged during the reporting period[22](index=22&type=chunk) [IV. Key Accounting Data and Financial Indicators](index=7&type=section&id=IV.%20Key%20Accounting%20Data%20and%20Financial%20Indicators) Operating revenue and net profit attributable to shareholders increased by **19.01%** and **31.41%** respectively, while total assets slightly decreased Key Accounting Data and Financial Indicators (Current Reporting Period vs. Prior Year Period) | Indicator | Current Reporting Period (yuan) | Prior Year Period (yuan) | Year-on-Year Change | | :--- | :--- | :--- | :--- | | Operating Revenue | 200,079,697.66 | 168,117,137.72 | 19.01% | | Net Profit Attributable to Shareholders of Listed Company | 30,835,205.73 | 23,464,234.29 | 31.41% | | Net Profit Attributable to Shareholders of Listed Company (Excluding Non-Recurring Gains and Losses) | 30,306,552.10 | 23,167,948.70 | 30.81% | | Net Cash Flow from Operating Activities | 43,943,356.64 | 38,850,791.54 | 13.11% | | Basic Earnings Per Share (yuan/share) | 0.13 | 0.10 | 30.00% | | Diluted Earnings Per Share (yuan/share) | 0.13 | 0.10 | 30.00% | | Weighted Average Return on Net Assets | 5.19% | 4.12% | 1.07% | | **End of Current Reporting Period vs. End of Prior Year** | | | | | Total Assets (yuan) | 694,131,122.21 | 730,850,031.41 | -5.02% | | Net Assets Attributable to Shareholders of Listed Company (yuan) | 584,253,112.63 | 589,757,831.41 | -0.93% | [V. Differences in Accounting Data under Domestic and Overseas Accounting Standards](index=8&type=section&id=V.%20Differences%20in%20Accounting%20Data%20under%20Domestic%20and%20Overseas%20Accounting%20Standards) The company reported no differences in net profit and net assets between domestic and international accounting standards - The company had no differences in net profit and net assets between financial reports disclosed under international accounting standards and Chinese accounting standards during the reporting period[25](index=25&type=chunk) - The company had no differences in net profit and net assets between financial reports disclosed under overseas accounting standards and Chinese accounting standards during the reporting period[26](index=26&type=chunk) [VI. Non-Recurring Gains and Losses Items and Amounts](index=8&type=section&id=VI.%20Non-Recurring%20Gains%20and%20Losses%20Items%20and%20Amounts) Total non-recurring gains and losses were **528,653.63 yuan**, mainly from government grants and financial asset fair value changes Non-Recurring Gains and Losses Items and Amounts | Item | Amount (yuan) | | :--- | :--- | | Government grants included in current profit or loss (excluding those with continuous impact) | 647,220.15 | | Fair value changes and disposal gains/losses from financial assets and financial liabilities held by non-financial enterprises | 24,377.99 | | Other non-operating income and expenses apart from the above | -122,777.40 | | Other gain/loss items that meet the definition of non-recurring gains and losses | 72,648.81 | | Less: Income tax impact | 92,815.92 | | Total | 528,653.63 | Section III Management Discussion and Analysis [I. Main Business Activities During the Reporting Period](index=10&type=section&id=I.%20Main%20Business%20Activities%20During%20the%20Reporting%20Period) The company specializes in R&D, production, and sales of precipitated silica for toothpaste, expanding into food, pharmaceuticals, and high-performance tires - The company's main business is the R&D, production, and sales of precipitated silica, with no change in main business since its establishment[31](index=31&type=chunk) - Products are currently mainly used in toothpaste, while continuously expanding into food and pharmaceuticals, high-end industrial applications (PE battery separators, silicone rubber, etc.), and high-performance tires[31](index=31&type=chunk) [1. Toothpaste Sector](index=10&type=section&id=1.%20Toothpaste%20Sector) Silica products for toothpaste offer good chemical stability, adjustable properties, and fluoride compatibility, with anti-sensitivity and high-dispersibility innovations - Silica products for toothpaste feature good chemical stability, adjustable abrasion and refractive indices, good compatibility with fluorides, adjustable oil absorption, and high purity[32](index=32&type=chunk) - The company's self-developed anti-sensitivity silica and highly dispersible silica products will lead future market trends in the toothpaste sector[33](index=33&type=chunk) [2. Food and Pharmaceutical Sector](index=10&type=section&id=2.%20Food%20and%20Pharmaceutical%20Sector) Silica acts as an anti-caking agent, preventing clumping in granular or powdered foods and pharmaceuticals due to its fine, porous, and adsorptive nature - Silica products for food and pharmaceuticals primarily serve as anti-caking agents, preventing granular or powdered foods from clumping[34](index=34&type=chunk) - Their advantages include fine particles, loose porosity, and strong adsorption, capable of absorbing moisture to prevent food from becoming damp and caking[34](index=34&type=chunk) [3. High-End Industrial Sector](index=10&type=section&id=3.%20High-End%20Industrial%20Sector) Silica serves as a filler for PE battery separators and a reinforcing agent for silicone rubber, significantly enhancing material performance - Silica products for PE battery separators primarily serve as fillers, accounting for approximately **60%** by weight, preventing short circuits and allowing free charge flow[35](index=35&type=chunk) - Silica products for silicone rubber primarily serve as reinforcing agents, accounting for **25%-40%** by weight, significantly improving tensile strength, wear resistance, aging resistance, and tear strength of rubber products[35](index=35&type=chunk)[36](index=36&type=chunk) [4. Green Low-Carbon High-Performance Tire Sector](index=11&type=section&id=4.%20Green%20Low-Carbon%20High-Performance%20Tire%20Sector) Silica improves grip, reduces rolling resistance, and enhances wear resistance in high-performance tires, making it crucial for new energy vehicles - Silica products for green low-carbon high-performance tires primarily serve as abrasives and reinforcing agents, improving grip, reducing rolling resistance, and enhancing wear and aging resistance[37](index=37&type=chunk) - Adding functional silica materials can significantly reduce rolling resistance and vehicle energy consumption, becoming a core choice for new energy vehicle manufacturers[37](index=37&type=chunk) [II. Analysis of Core Competencies](index=11&type=section&id=II.%20Analysis%20of%20Core%20Competencies) The company maintains industry leadership through strong R&D, unique production processes, stable customer relationships, and rigorous product quality control - The company is committed to independent R&D investment and platform construction, collaborating with multiple research institutions, and possessing specialized R&D platforms such as the Guangdong Provincial Enterprise Technology Center[38](index=38&type=chunk) - The company's production lines have achieved full automation and intelligent control, enhancing production efficiency and product quality through DCS intelligent systems and SAP information management systems[41](index=41&type=chunk)[42](index=42&type=chunk) - The company has established stable and long-term cooperative relationships with well-known domestic and international toothpaste brands, demonstrating a customer advantage[44](index=44&type=chunk) - The company has established a strict supplier management system and a comprehensive quality control system, ensuring product quality stability through CNAS certified laboratories and ISO22000, ISO9001 systems[46](index=46&type=chunk) [1. R&D Advantages](index=11&type=section&id=1.%20R%26D%20Advantages) The company drives innovation through provincial R&D platforms, advanced laboratories, and a PLM system, holding **133** national patents, including **105** invention patents - The company has established specialized R&D platforms such as the Guangdong Provincial Enterprise Technology Center and the Guangdong Functional Silica Engineering Technology Research Center[38](index=38&type=chunk) - The company has built an R&D laboratory spanning over **4,700** square meters and introduced a PLM system for digital management of the entire R&D process[39](index=39&type=chunk) - As of the end of the reporting period, the company and its subsidiaries had obtained a total of **133** national patents, including **105** Chinese invention patents and **1** US invention patent[39](index=39&type=chunk) [2. Unique Production Process and Technological Advantages](index=11&type=section&id=2.%20Unique%20Production%20Process%20and%20Technological%20Advantages) Full automation, intelligent control, DCS, and SAP systems ensure stable product quality, energy efficiency, and refined production management - The company's production lines have achieved full automation and intelligent control of processes, strictly ensuring product quality stability through precise, automated monitoring of each production step[41](index=41&type=chunk) - The company has implemented measures such as recovering drying waste heat, utilizing solar power, recycling steam, and reusing wash water in its production process to achieve energy conservation, emission reduction, and efficiency improvement[41](index=41&type=chunk) - The company employs DCS intelligent systems and SAP information management systems, and is planning the construction of an MES system to enhance the level of refined production management[42](index=42&type=chunk) [3. Customer Advantages](index=12&type=section&id=3.%20Customer%20Advantages) The company has established long-term, stable cooperative relationships with renowned domestic and international toothpaste brands due to its quality and service - The company enjoys a high reputation in the industry due to its advanced production technology, high-quality products, and services[44](index=44&type=chunk) - The company has established stable and long-term cooperative relationships with well-known domestic and international toothpaste brands[44](index=44&type=chunk) [4. Product Quality Advantages](index=12&type=section&id=4.%20Product%20Quality%20Advantages) Adhering to "quality first," the company implements strict supplier management, DCS monitoring, and CNAS, ISO22000, ISO9001 certifications for high credibility - The company has established a strict supplier management system and raw material acceptance standards, controlling quality from the source[46](index=46&type=chunk) - The entire production process is efficiently monitored and controlled by a Distributed Control System (DCS system) to ensure product quality stability[46](index=46&type=chunk) - The testing laboratory is CNAS certified, and the company rigorously operates ISO22000 food safety management system and ISO9001 quality management system[46](index=46&type=chunk) [III. Analysis of Main Business](index=13&type=section&id=III.%20Analysis%20of%20Main%20Business) Operating revenue increased by **19.01%**, operating costs by **14.01%**, and gross profit margin improved by **7.47%**, while investing cash flow significantly decreased Year-on-Year Changes in Key Financial Data | Indicator | Current Reporting Period (yuan) | Prior Year Period (yuan) | Year-on-Year Change | Reason for Change | | :--- | :--- | :--- | :--- | :--- | | Operating Revenue | 200,079,697.66 | 168,117,137.72 | 19.01% | | | Operating Cost | 123,825,338.32 | 108,611,977.82 | 14.01% | | | Sales Expenses | 6,274,490.35 | 3,697,113.52 | 69.71% | Primarily due to increased compensation and business expansion expenses | | Administrative Expenses | 25,202,102.35 | 17,841,793.72 | 41.25% | Primarily due to increased compensation and office rent | | Financial Expenses | -918,719.93 | -454,943.07 | -101.94% | | | Income Tax Expense | 4,226,775.30 | 2,958,040.99 | 42.89% | Primarily due to increased profit | | R&D Investment | 9,261,063.24 | 9,749,583.81 | -5.01% | | | Net Cash Flow from Operating Activities | 43,943,356.64 | 38,850,791.54 | 13.11% | | | Net Cash Flow from Investing Activities | -18,653,790.75 | -11,657,255.33 | -60.02% | Primarily due to increased purchases of wealth management products and asset acquisition payments | | Net Cash Flow from Financing Activities | -47,715,349.09 | -42,466,083.17 | -12.36% | | | Net Increase in Cash and Cash Equivalents | -21,442,858.29 | -15,031,658.06 | -42.65% | Primarily due to increased dividend payments and investment expenditures | Product or Service Accounting for Over 10% of Revenue | Product or Service | Operating Revenue (yuan) | Operating Cost (yuan) | Gross Profit Margin | Year-on-Year Change in Operating Revenue | Year-on-Year Change in Operating Cost | Year-on-Year Change in Gross Profit Margin | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Silica | 199,133,384.03 | 123,498,784.06 | 37.98% | 18.71% | 13.86% | 7.47% | [IV. Analysis of Non-Core Business](index=14&type=section&id=IV.%20Analysis%20of%20Non-Core%20Business) Non-core business, including wealth management income and government grants, contributed minimally to profit and is not sustainable Non-Core Business Analysis | Item | Amount (yuan) | Proportion of Total Profit | Explanation of Formation | Sustainability | | :--- | :--- | :--- | :--- | :--- | | Investment Income | 24,377.99 | 0.07% | Primarily income from wealth management products and structured deposits | No | | Asset Impairment | -401,344.64 | -1.14% | Primarily inventory impairment provision | No | | Non-Operating Income | 2,402.55 | 0.01% | Primarily other non-daily operating income | No | | Non-Operating Expenses | 125,179.95 | 0.36% | Primarily donation expenses | No | | Other Income | 1,263,641.48 | 3.60% | Primarily government grants and others | No | | Credit Impairment Losses | 461,956.80 | 1.32% | Primarily bad debt provision according to company impairment policy | No | [V. Analysis of Assets and Liabilities](index=14&type=section&id=V.%20Analysis%20of%20Assets%20and%20Liabilities) Total assets and net assets decreased; monetary funds and accounts receivable fell, while inventory and right-of-use assets rose; notes payable and long-term borrowings decreased Significant Changes in Asset Composition (End of Current Reporting Period vs. End of Prior Year) | Item | Amount at End of Current Reporting Period (yuan) | Proportion of Total Assets | Amount at End of Prior Year (yuan) | Proportion of Total Assets | Change in Proportion | Explanation of Significant Change | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Monetary Funds | 90,490,693.16 | 13.04% | 121,724,983.15 | 16.66% | -3.62% | Primarily due to increased dividend payments and investments | | Accounts Receivable | 73,940,973.90 | 10.65% | 85,887,524.66 | 11.75% | -1.10% | Primarily due to increased sales collections | | Inventory | 70,062,278.59 | 10.09% | 60,592,546.78 | 8.29% | 1.80% | Primarily due to increased leased warehouses | | Fixed Assets | 370,852,469.29 | 53.43% | 378,283,521.47 | 51.76% | 1.67% | Primarily due to asset depreciation | | Right-of-Use Assets | 12,838,684.52 | 1.85% | 5,115,856.12 | 0.70% | 1.15% | Primarily due to increased leased warehouses | | Trading Financial Assets | 4,000,000.00 | 0.58% | 0.00 | 0.00% | 0.58% | Primarily due to purchases of wealth management products | | Notes Payable | 30,531,280.00 | 4.40% | 63,750,154.08 | 8.72% | -4.32% | Primarily due to a decrease in bank acceptance bills issued | | Long-Term Borrowings | 7,316,082.63 | 1.05% | 14,632,165.27 | 2.00% | -0.95% | Primarily due to reclassification to non-current liabilities due within one year | | Lease Liabilities | 12,421,470.42 | 1.79% | 4,842,585.83 | 0.66% | 1.13% | Primarily due to increased leased warehouses | | Non-Current Liabilities Due Within One Year | 12,583,645.28 | 1.81% | 8,767,886.35 | 1.20% | 0.61% | Primarily due to an increase in long-term borrowings due within one year | Asset Rights Restriction Status | Item | Book Balance at Period-End (yuan) | Book Value (yuan) | Type of Restriction | Restriction Details | | :--- | :--- | :--- | :--- | :--- | | Monetary Funds | 6,195,729.06 | 6,195,729.06 | Guarantee | Acceptance bill deposit | | Fixed Assets | 231,299,513.17 | 202,951,785.82 | Mortgage | Credit mortgage | | Intangible Assets | 32,643,621.23 | 28,741,939.33 | Mortgage | Credit mortgage | | Accounts Receivable Financing | 2,182,416.75 | 2,182,416.75 | Pledge | Pledge for issuing acceptance bills | | Total | 272,321,280.21 | 240,071,870.96 | | | [VI. Analysis of Investment Status](index=16&type=section&id=VI.%20Analysis%20of%20Investment%20Status) The company had no use of raised funds, with **160.5577 million yuan** in entrusted wealth management and no derivative investments or entrusted loans - The company had no use of raised funds during the reporting period[60](index=60&type=chunk) Overview of Entrusted Wealth Management During the Reporting Period | Specific Type | Source of Entrusted Wealth Management Funds | Amount of Entrusted Wealth Management (10,000 yuan) | Unmatured Balance (10,000 yuan) | Overdue Unrecovered Amount (10,000 yuan) | | :--- | :--- | :--- | :--- | :--- | | Bank Wealth Management Products | Own Funds | 16,055.77 | 1,688.55 | 0 | - The company had no derivative investments or entrusted loans during the reporting period[62](index=62&type=chunk)[63](index=63&type=chunk) [VII. Significant Asset and Equity Sales](index=18&type=section&id=VII.%20Significant%20Asset%20and%20Equity%20Sales) The company did not sell any significant assets or equity during the reporting period - The company did not sell significant assets during the reporting period[64](index=64&type=chunk) - The company did not sell significant equity during the reporting period[65](index=65&type=chunk) [VIII. Analysis of Major Holding and Participating Companies](index=18&type=section&id=VIII.%20Analysis%20of%20Major%20Holding%20and%20Participating%20Companies) Key subsidiaries include Jinsanjiang (Hong Kong) and Jinsanjiang Poland; a new Malaysian subsidiary is in establishment, not yet impacting performance Major Subsidiary Information | Company Name | Company Type | Main Business | Registered Capital (yuan) | Total Assets (yuan) | Net Assets (yuan) | Operating Revenue (yuan) | Operating Profit (yuan) | Net Profit (yuan) | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Jinsanjiang (Hong Kong) Co., Ltd. | Subsidiary | Trade | 8,549.00 | 39,451,537.89 | 26,418,692.67 | 15,092,306.28 | 2,466,292.58 | 2,366,423.96 | | Jinsanjiang Poland Sp. z o.o. | Subsidiary | Trade | 5,985,464.01 | 29,906,348.00 | 12,788,183.01 | 0.00 | -2,659,752.84 | -2,659,752.84 | - Jinsanjiang (Malaysia) Co., Ltd. was established this year through its subsidiary Jinsanjiang (Hong Kong) Co., Ltd. to expand overseas business and optimize capacity layout[67](index=67&type=chunk) - The Malaysian company is currently in the establishment phase and has not yet had a significant impact on overall production, operations, and performance[67](index=67&type=chunk) [IX. Information on Structured Entities Controlled by the Company](index=19&type=section&id=IX.%20Information%20on%20Structured%20Entities%20Controlled%20by%20the%20Company) During the reporting period, the company had no controlled structured entities - The company had no controlled structured entities during the reporting period[68](index=68&type=chunk) [X. Risks Faced by the Company and Countermeasures](index=19&type=section&id=X.%20Risks%20Faced%20by%20the%20Company%20and%20Countermeasures) The company addresses competition, geopolitical uncertainties, and environmental risks through R&D, market expansion, global supply chain, and eco-friendly innovations - The company faces industry competition risks, with countermeasures including continuously increasing R&D technical capabilities, focusing on industry applications, collaborating with strategic customers for joint R&D, and exploring new markets[68](index=68&type=chunk) - Escalating globalization risks are mitigated by the company through a global supply chain layout, multi-region supply capacity planning, and policy tracking to reduce challenges in overseas market expansion[69](index=69&type=chunk) - Increasingly stringent environmental requirements are addressed by the company through active investment in environmentally friendly materials and process innovation in R&D, and attention to new energy and new material application opportunities[70](index=70&type=chunk) [XI. Registration Form for Research, Communication, Interview, and Other Activities During the Reporting Period](index=19&type=section&id=XI.%20Registration%20Form%20for%20Research%2C%20Communication%2C%20Interview%2C%20and%20Other%20Activities%20During%20the%20Reporting%20Period) The company conducted its 2024 annual performance exchange with online investors on April 16, 2025 - On April 16, 2025, the company hosted an online performance exchange for its 2024 annual results with online investors via a network platform[71](index=71&type=chunk) [XII. Formulation and Implementation of Market Value Management System and Valuation Enhancement Plan](index=19&type=section&id=XII.%20Formulation%20and%20Implementation%20of%20Market%20Value%20Management%20System%20and%20Valuation%20Enhancement%20Plan) The company has not disclosed any market value management system or valuation enhancement plan - The company has not disclosed the formulation of a market value management system[72](index=72&type=chunk) - The company has not disclosed a valuation enhancement plan[73](index=73&type=chunk) [XIII. Implementation of "Quality and Return Dual Improvement" Action Plan](index=20&type=section&id=XIII.%20Implementation%20of%20%22Quality%20and%20Return%20Dual%20Improvement%22%20Action%20Plan) The company has not disclosed an announcement regarding the "Quality and Return Dual Improvement" action plan - The company has not disclosed an announcement regarding the "Quality and Return Dual Improvement" action plan[74](index=74&type=chunk) Section IV Corporate Governance, Environment, and Society [I. Changes in Directors, Supervisors, and Senior Management](index=20&type=section&id=I.%20Changes%20in%20Directors%2C%20Supervisors%2C%20and%20Senior%20Management) Wu Zhuoyu resigned as director and deputy general manager on May 22, 2025, due to personal reasons Changes in Directors, Supervisors, and Senior Management | Name | Position Held | Type | Date | Reason | | :--- | :--- | :--- | :--- | :--- | | Wu Zhuoyu | Director | Resignation | May 22, 2025 | Personal reasons | | Wu Zhuoyu | Deputy General Manager | Resignation | May 22, 2025 | Personal reasons | [II. Profit Distribution and Capital Reserve Conversion to Share Capital in This Reporting Period](index=20&type=section&id=II.%20Profit%20Distribution%20and%20Capital%20Reserve%20Conversion%20to%20Share%20Capital%20in%20This%20Reporting%20Period) The company plans no cash dividends, bonus shares, or capital increase from capital reserves for this semi-annual period - The company plans no cash dividends, bonus shares, or capital increase from capital reserves for the semi-annual period[76](index=76&type=chunk) [III. Implementation of Equity Incentive Plans, Employee Stock Ownership Plans, or Other Employee Incentive Measures](index=20&type=section&id=III.%20Implementation%20of%20Equity%20Incentive%20Plans%2C%20Employee%20Stock%20Ownership%20Plans%2C%20or%20Other%20Employee%20Incentive%20Measures) The company implemented restricted stock and employee stock ownership plans, with **1.993998 million** shares granted and **556,650** shares unlocked - The company granted **1.993998 million** second-class restricted shares to **60** grantees on May 20, 2024[79](index=79&type=chunk) - The restricted stock grant price was adjusted from **4.34 yuan/share** to **4.07 yuan/share**, and the conditions for the first vesting period were met, allowing **627,618 shares** to be vested[79](index=79&type=chunk) - The first batch of shares under the 2024 Employee Stock Ownership Plan matured, allowing **556,650 shares** to be unlocked, accounting for **0.24%** of the company's total share capital[83](index=83&type=chunk) - During the reporting period, **2** holders of the 2024 Employee Stock Ownership Plan resigned, and their **612,500** shares were transferred to Ren Zhenxue, the company's director and general manager[83](index=83&type=chunk) [1. Equity Incentives](index=20&type=section&id=1.%20Equity%20Incentives) The 2024 Restricted Stock Incentive Plan granted **1.993998 million** shares to **60** grantees, with **627,618** shares vested in the first period - On April 22, 2024, the company's board of directors approved the "Proposal on the Company's 2024 Restricted Stock Incentive Plan (Draft) and its Summary"[77](index=77&type=chunk) - On May 20, 2024, the company granted **1.993998 million** second-class restricted shares to **60** eligible grantees[79](index=79&type=chunk) - On May 21, 2025, it was agreed to adjust the restricted stock grant price from **4.34 yuan/share** to **4.07 yuan/share**, and the conditions for the first vesting period were confirmed to be met, allowing **627,618 shares** to be vested[79](index=79&type=chunk) [2. Implementation of Employee Stock Ownership Plan](index=21&type=section&id=2.%20Implementation%20of%20Employee%20Stock%20Ownership%20Plan) The 2024 Employee Stock Ownership Plan covered **41** employees, with **556,650** shares unlocked and shares of **2** resigned employees handled Employee Stock Ownership Plan Details | Employee Scope | Number of Employees | Total Shares Held (shares) | Proportion of Listed Company's Total Share Capital | Funding Sources for the Plan | | :--- | :--- | :--- | :--- | :--- | | Directors, supervisors, senior management, core managers, and supervisors of the company (including branches and controlled subsidiaries) | 41 | 1,113,300 | 0.48% | 1. Employee's own funds; 2. Special incentive funds accrued by the company; 3. Other methods permitted by laws and regulations | - During the reporting period, **2** holders of the 2024 Employee Stock Ownership Plan resigned, and their **612,500** shares were transferred to Ren Zhenxue, the company's director and general manager[83](index=83&type=chunk) - On June 6, 2025, the lock-up period for the first batch of shares under the 2024 Employee Stock Ownership Plan expired, allowing **556,650 shares** to be unlocked, accounting for **0.24%** of the company's total share capital[83](index=83&type=chunk) [3. Other Employee Incentive Measures](index=23&type=section&id=3.%20Other%20Employee%20Incentive%20Measures) During the reporting period, the company had no other employee incentive measures - The company had no other employee incentive measures[84](index=84&type=chunk) [IV. Environmental Information Disclosure](index=24&type=section&id=IV.%20Environmental%20Information%20Disclosure) Jinsanjiang (Zhaoqing) Silicon Material Co., Ltd. is legally required to disclose environmental information - Jinsanjiang (Zhaoqing) Silicon Material Co., Ltd. is included in the list of enterprises required to disclose environmental information by law[85](index=85&type=chunk) [V. Social Responsibility](index=24&type=section&id=V.%20Social%20Responsibility) The company prioritizes employee welfare, safety, and environmental compliance, fostering a sustainable human resource ecosystem and robust safety culture - The company has improved its "Employee Handbook" and "Job Grade System Management System," establishing a "dual-channel" career development system for employees, and providing comprehensive compensation, benefits, occupational health, and safety protection[86](index=86&type=chunk) - The company adheres to the safety policy of "safety first, prevention foremost, safe development, and people-oriented," continuously optimizing on-site safety management and building and improving its safety culture system[89](index=89&type=chunk) - The company has passed the national Level 3 safety standardization certification, established a Safety Management Committee, and strictly complies with a series of safety production laws and regulations such as the "Production Safety Law of the People's Republic of China"[91](index=91&type=chunk)[92](index=92&type=chunk) - The company strictly manages the entire process of chemical procurement, storage, collection, and use in accordance with regulations such as the "Regulations on the Safe Management of Hazardous Chemicals," and has established a management mechanism compliant with EU REACH regulations[95](index=95&type=chunk) [1. Employees](index=24&type=section&id=1.%20Employees) The company fosters an inclusive workplace with a "dual-channel" career development system, comprehensive training, and welfare benefits - The company has improved its "Employee Handbook," respecting employee rights, prohibiting any form of bias and discrimination, and fostering an equal and inclusive workplace environment[86](index=86&type=chunk) - The company has improved its "Job Grade System Management System," establishing a "dual-channel" management and technical job grade system for employees, and providing rich compensation, benefits, and occupational health and safety protection[86](index=86&type=chunk) - The company develops training courses for employees at all levels around its talent development system and provides fragmented learning resources through the "Jinsanjiang Business School" platform[87](index=87&type=chunk) [2. Safety and Occupational Health](index=24&type=section&id=2.%20Safety%20and%20Occupational%20Health) Adhering to "safety first," the company builds a safety culture through regular meetings, training, and aims for "zero occupational diseases" with health monitoring - The company adheres to the safety policy of "safety first, prevention foremost, safe development, and people-oriented," continuously optimizing on-site safety management measures[89](index=89&type=chunk) - The company guides all employees to highly identify with safety awareness and goals through regular safety production meetings, multi-level safety training, and safety culture month activities[89](index=89&type=chunk) - The company has established a "zero occupational disease" occupational health management goal, regularly monitors occupational hazard factors in the workplace, provides occupational health examination services, and organizes environmental safety training and emergency first-aid publicity[90](index=90&type=chunk) [3. Production Safety Management](index=25&type=section&id=3.%20Production%20Safety%20Management) The company maintains a comprehensive safety management system, certified to national Level 3, ensuring compliance and managing chemical and supplier safety - The company has established a comprehensive production safety management system, passed the national Level 3 safety standardization certification, and set up a Safety Management Committee[91](index=91&type=chunk) - The company strictly complies with a series of laws and regulations such as the "Production Safety Law of the People's Republic of China," establishing a sound and complete safety management mechanism[92](index=92&type=chunk) - The company has formulated and updated supplier safety management agreements, ensuring that engineering suppliers and sulfuric acid suppliers sign safety responsibility commitments before entering the plant[93](index=93&type=chunk)[94](index=94&type=chunk) - The company strictly manages the entire process of chemical procurement, storage, collection, and use in accordance with regulations such as the "Regulations on the Safe Management of Hazardous Chemicals," and has established a management mechanism compliant with EU REACH regulations[95](index=95&type=chunk) Section V Significant Matters [I. Commitments Fulfilled During the Reporting Period and Overdue Unfulfilled Commitments by the Company's Actual Controller, Shareholders, Related Parties, Acquirers, and the Company](index=27&type=section&id=I.%20Commitments%20Fulfilled%20During%20the%20Reporting%20Period%20and%20Overdue%20Unfulfilled%20Commitments%20by%20the%20Company%27s%20Actual%20Controller%2C%20Shareholders%2C%20Related%20Parties%2C%20Acquirers%2C%20and%20the%20Company) No overdue unfulfilled commitments by the company or related parties were reported - During the reporting period, there were no commitments by the company's actual controller, shareholders, related parties, acquirers, or the company that were fulfilled during the reporting period or overdue and unfulfilled as of the end of the reporting period[97](index=97&type=chunk) [II. Non-Operating Fund Occupation by Controlling Shareholders and Other Related Parties](index=27&type=section&id=II.%20Non-Operating%20Fund%20Occupation%20by%20Controlling%20Shareholders%20and%20Other%20Related%20Parties) No non-operating fund occupation by controlling shareholders or other related parties occurred - During the reporting period, there was no non-operating occupation of listed company funds by controlling shareholders or other related parties[98](index=98&type=chunk) [III. Irregular External Guarantees](index=27&type=section&id=III.%20Irregular%20External%20Guarantees) The company had no irregular external guarantees during the reporting period - The company had no irregular external guarantees during the reporting period[99](index=99&type=chunk) [IV. Appointment and Dismissal of Accounting Firms](index=27&type=section&id=IV.%20Appointment%20and%20Dismissal%20of%20Accounting%20Firms) The company's semi-annual report was not audited - The company's semi-annual report was not audited[100](index=100&type=chunk) [V. Explanation by the Board of Directors, Supervisory Board, and Audit Committee on the Accounting Firm's "Non-Standard Audit Report" for This Reporting Period](index=27&type=section&id=V.%20Explanation%20by%20the%20Board%20of%20Directors%2C%20Supervisory%20Board%2C%20and%20Audit%20Committee%20on%20the%20Accounting%20Firm%27s%20%22Non-Standard%20Audit%20Report%22%20for%20This%20Reporting%20Period) This section is not applicable as the semi-annual report was unaudited - Not applicable[101](index=101&type=chunk) [VI. Explanation by the Board of Directors on the "Non-Standard Audit Report" for the Previous Year](index=27&type=section&id=VI.%20Explanation%20by%20the%20Board%20of%20Directors%20on%20the%20%22Non-Standard%20Audit%20Report%22%20for%20the%20Previous%20Year) This section is not applicable as the semi-annual report was unaudited - Not applicable[101](index=101&type=chunk) [VII. Bankruptcy and Reorganization Matters](index=28&type=section&id=VII.%20Bankruptcy%20and%20Reorganization%20Matters) During the reporting period, the company had no bankruptcy and reorganization matters - The company had no bankruptcy and reorganization matters during the reporting period[102](index=102&type=chunk) [VIII. Litigation Matters](index=28&type=section&id=VIII.%20Litigation%20Matters) The company had no significant litigation, arbitration, or other litigation matters during the reporting period - The company had no significant litigation or arbitration matters in this reporting period[103](index=103&type=chunk) - The company had no other litigation matters[104](index=104&type=chunk) [IX. Penalties and Rectification](index=28&type=section&id=IX.%20Penalties%20and%20Rectification) During the reporting period, the company had no penalties or rectification situations - The company had no penalties or rectification situations during the reporting period[104](index=104&type=chunk) [X. Integrity Status of the Company, its Controlling Shareholder, and Actual Controller](index=28&type=section&id=X.%20Integrity%20Status%20of%20the%20Company%2C%20its%20Controlling%20Shareholder%2C%20and%20Actual%20Controller) The company, its controlling shareholder, and actual controller had no unfulfilled court judgments or large overdue debts - The company, its controlling shareholder, and actual controller had no unfulfilled effective court judgments or large overdue debts during the reporting period[105](index=105&type=chunk) [XI. Significant Related Party Transactions](index=28&type=section&id=XI.%20Significant%20Related%20Party%20Transactions) No related party transactions related to daily operations, asset/equity changes, joint investments, or creditor/debtor relationships occurred - The company had no related party transactions related to daily operations during the reporting period[105](index=105&type=chunk) - The company had no related party transactions involving asset or equity acquisitions/disposals during the reporting period[106](index=106&type=chunk) - The company had no related party transactions involving joint external investments during the reporting period[107](index=107&type=chunk) - The company had no related party creditor/debtor relationships during the reporting period[108](index=108&type=chunk) - The company had no deposits, loans, credit lines, or other financial business with related financial companies or financial companies controlled by the company and related parties[109](index=109&type=chunk)[110](index=110&type=chunk) - The company had no other significant related party transactions during the reporting period[111](index=111&type=chunk) [XII. Significant Contracts and Their Performance](index=29&type=section&id=XII.%20Significant%20Contracts%20and%20Their%20Performance) The company had no trusteeship or contracting, but engaged in various leases; no leasing projects exceeded **10%** of total profit - The company had no trusteeship situations during the reporting period[112](index=112&type=chunk) - The company had no contracting situations during the reporting period[113](index=113&type=chunk) Leasing Information | No. | Lessee | Lessor | Lease Location | Purpose | Lease Term | Lease Area (m²) | Lease Filing Completed | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | 1 | Jinsanjiang (Zhaoqing) Silicon Material Co., Ltd. | Guangzhou Southern Media Industrial Park Co., Ltd. | Units 1501-3 and 1502, 15th Floor, Southern Media Building, No. 888 Huangpu Avenue East, Huangpu District, Guangzhou | Office | Jan 28, 2024 to Dec 31, 2029 | 1,026.37 | Yes | | 2 | Jinsanjiang (Zhaoqing) Silicon Material Co., Ltd. | Zhaoqing Huiyang Property Management Service Co., Ltd. | 252, Comprehensive Building No. 1, Jinqiang Science and Technology Innovation Park, No. 9-3 Chuangye Road, Zhaoqing High-tech Zone | Accommodation | Feb 5, 2025 to Feb 4, 2028 | | No | | 3 | Jinsanjiang (Zhaoqing) Silicon Material Co., Ltd. | Zhaoqing Huiyang Property Management Service Co., Ltd. | 112, Comprehensive Building No. 1, Jinqiang Science and Technology Innovation Park, No. 9-3 Chuangye Road, Zhaoqing High-tech Zone | Accommodation | Jun 1, 2025 to Feb 4, 2028 | | No | | 4 | JSJ POLAND SP. Z O.O. | PDC INDUSTRIAL CENTER WAŁBRZYCH 242 SP. Z O.O. | AL PANATTONI PARK | Processing, Warehouse | Jan 15, 2025 to Dec 15, 2031 | 4,953 | No | | 5 | JSJ POLAND SP. Z O.O. | PDC INDUSTRIAL CENTER WAŁBRZYCH 242 SP. Z O.O. | AL PANATTONI PARK | Office | May 15, 2025 to Dec 15, 2031 | 144 | No | - The company had no leasing projects that contributed over **10%** of the company's total profit during the reporting period[114](index=114&type=chunk) - The company had no significant guarantee situations during the reporting period[115](index=115&type=chunk) - The company had no other significant contracts during the reporting period[116](index=116&type=chunk) [XIII. Explanation of Other Significant Matters](index=31&type=section&id=XIII.%20Explanation%20of%20Other%20Significant%20Matters) No other significant matters requiring explanation were reported by the company - The company had no other significant matters requiring explanation during the reporting period[117](index=117&type=chunk) [XIV. Significant Matters of Company Subsidiaries](index=31&type=section&id=XIV.%20Significant%20Matters%20of%20Company%20Subsidiaries) The company's subsidiaries had no other significant matters during the reporting period - The company's subsidiaries had no significant matters during the reporting period[118](index=118&type=chunk) Section VI Share Changes and Shareholder Information [I. Share Change Information](index=32&type=section&id=I.%20Share%20Change%20Information) The company's total share capital remained unchanged at **231,154,000** shares, with no changes in restricted or unrestricted share proportions Share Change Information | Share Category | Quantity Before This Change (shares) | Proportion | Increase/Decrease in This Change (+, -) | Quantity After This Change (shares) | Proportion | | :--- | :--- | :--- | :--- | :--- | :--- | | I. Restricted Shares | 24,416,974 | 10.56% | 0 | 24,416,974 | 10.56% | | II. Unrestricted Shares | 206,737,026 | 89.44% | 0 | 206,737,026 | 89.44% | | III. Total Shares | 231,154,000 | 100.00% | 0 | 231,154,000 | 100.00% | - During the reporting period, the company's total share capital remained unchanged, and the reasons for share changes, approval status, transfer status, and progress of share repurchases are all not applicable[122](index=122&type=chunk) [II. Securities Issuance and Listing](index=33&type=section&id=II.%20Securities%20Issuance%20and%20Listing) The company had no securities issuance or listing during the reporting period - The company had no securities issuance or listing during the reporting period[122](index=122&type=chunk) [III. Number of Shareholders and Shareholding](index=33&type=section&id=III.%20Number%20of%20Shareholders%20and%20Shareholding) The company had **10,206** common shareholders; Guangzhou Feixue Group held **43.67%**, and actual controllers Ren Zhenxue and Zhao Guofa are a married couple - The total number of common shareholders at the end of the reporting period was **10,206**[123](index=123&type=chunk) Shareholding of Shareholders Holding 5% or More or Top 10 Shareholders | Shareholder Name | Shareholder Nature | Shareholding Proportion | Number of Shares Held at End of Reporting Period (shares) | Number of Restricted Shares Held (shares) | Number of Unrestricted Shares Held (shares) | | :--- | :--- | :--- | :--- | :--- | :--- | | Guangzhou Feixue Group Co., Ltd. | Domestic Non-State-Owned Legal Person | 43.67% | 100,934,135.00 | 0.00 | 100,934,135.00 | | Guangzhou Sainuo Management Consulting Partnership (Limited Partnership) | Domestic Non-State-Owned Legal Person | 12.68% | 29,311,287.00 | 0.00 | 29,311,287.00 | | Zhao Guofa | Domestic Natural Person | 7.04% | 16,276,344.00 | 12,207,258 | 4,069,086.00 | | Ren Zhenxue | Domestic Natural Person | 7.04% | 16,276,344.00 | 12,207,258 | 4,069,086.00 | | Guangzhou Saizhi Management Consulting Partnership (Limited Partnership) | Domestic Non-State-Owned Legal Person | 0.99% | 2,288,049.00 | 0.00 | 2,288,049.00 | | Xu Junhua | Domestic Natural Person | 0.89% | 2,048,600.00 | 0.00 | 2,048,600.00 | | Industrial and Commercial Bank of China Co., Ltd. - China CITIC-Prudential Multi-Strategy Flexible Allocation Mixed Securities Investment Fund (LOF) | Other | 0.82% | 1,890,100.00 | 0.00 | 1,890,100.00 | | China Construction Bank Co., Ltd. - Guotai Junan Jundexin Two-Year Holding Period Mixed Securities Investment Fund | Other | 0.61% | 1,418,784.00 | 0.00 | 1,418,784.00 | | Guangdong Yueke Gejin Advanced Manufacturing Investment Partnership (Limited Partnership) | Other | 0.58% | 1,345,474.00 | 0.00 | 1,345,474.00 | | Shen Daoyi | Domestic Natural Person | 0.53% | 1,236,200.00 | 0.00 | 1,236,200.00 | - Actual controllers Ren Zhenxue and Zhao Guofa are a married couple; Guangzhou Feixue Group Co., Ltd., Guangzhou Sainuo Management Consulting Partnership (Limited Partnership), and Guangzhou Saizhi Management Consulting Partnership (Limited Partnership) are enterprises controlled by actual controllers Ren Zhenxue and Zhao Guofa[125](index=125&type=chunk) [IV. Changes in Shareholdings of Directors, Supervisors, and Senior Management](index=37&type=section&id=IV.%20Changes%20in%20Shareholdings%20of%20Directors%2C%20Supervisors%2C%20and%20Senior%20Management) No changes occurred in the shareholdings of directors, supervisors, and senior management during the reporting period - There were no changes in the shareholdings of the company's directors, supervisors, and senior management during the reporting period[128](index=128&type=chunk) [V. Changes in Controlling Shareholder or Actual Controller](index=37&type=section&id=V.%20Changes%20in%20Controlling%20Shareholder%20or%20Actual%20Controller) No changes occurred in the company's controlling shareholder or actual controller during the reporting period - The company's controlling shareholder did not change during the reporting period[129](index=129&type=chunk) - The company's actual controller did not change during the reporting period[131](index=131&type=chunk) [VI. Preferred Share Information](index=39&type=section&id=VI.%20Preferred%20Share%20Information) The company had no preferred shares during the reporting period - The company had no preferred shares during the reporting period[132](index=132&type=chunk) Section VII Bond-Related Information [Bond-Related Information](index=40&type=section&id=Bond-Related%20Information) The company had no bond-related information during the reporting period - The company had no bond-related information during the reporting period[134](index=134&type=chunk) Section VIII Financial Report [I. Audit Report](index=41&type=section&id=I.%20Audit%20Report) The company's semi-annual financial report was not audited - The company's semi-annual financial report was not audited[136](index=136&type=chunk) [II. Financial Statements](index=41&type=section&id=II.%20Financial%20Statements) This section presents consolidated and parent company financial statements, including balance sheets, income statements, cash flow statements, and owners' equity changes [1. Consolidated Balance Sheet](index=41&type=section&id=1.%20Consolidated%20Balance%20Sheet) As of June 30, 2025, consolidated total assets were **694.13 million yuan**, liabilities **110.00 million yuan**, and owners' equity **584.25 million yuan** Key Data from Consolidated Balance Sheet (End of Period Balance) | Item | Amount (yuan) | | :--- | :--- | | Total Assets | 694,131,122.21 | | Total Liabilities | 109,878,009.58 | | Total Owners' Equity | 584,253,112.63 | | Monetary Funds | 90,490,693.16 | | Accounts Receivable | 73,940,973.90 | | Inventory | 70,062,278.59 | | Fixed Assets | 370,852,469.29 | | Notes Payable | 30,531,280.00 | | Long-Term Borrowings | 7,316,082.63 | [2. Parent Company Balance Sheet](index=44&type=section&id=2.%20Parent%20Company%20Balance%20Sheet) As of June 30, 2025, parent company total assets were **690.00 million yuan**, liabilities **99.00 million yuan**, and owners' equity **590.00 million yuan** Key Data from Parent Company Balance Sheet (End of Period Balance) | Item | Amount (yuan) | | :--- | :--- | | Total Assets | 689,757,075.30 | | Total Liabilities | 99,313,108.69 | | Total Owners' Equity | 590,443,966.61 | | Monetary Funds | 82,996,236.61 | | Accounts Receivable | 85,350,552.39 | | Long-Term Equity Investment | 26,152,701.43 | | Notes Payable | 30,531,280.00 | [3. Consolidated Income Statement](index=47&type=section&id=3.%20Consolidated%20Income%20Statement) In H1 2025, total operating revenue was **200.08 million yuan** (up **19.01%**), and net profit attributable to parent company was **30.84 million yuan** (up **31.41%**) Key Data from Consolidated Income Statement (First Half of 2025) | Item | H1 2025 (yuan) | H1 2024 (yuan) | | :--- | :--- | :--- | | Total Operating Revenue | 200,079,697.66 | 168,117,137.72 | | Total Operating Costs | 166,243,570.86 | 142,265,444.75 | | Operating Profit | 35,184,758.43 | 26,643,865.93 | | Total Profit | 35,061,981.03 | 26,422,275.28 | | Net Profit | 30,835,205.73 | 23,464,234.29 | | Net Profit Attributable to Parent Company Shareholders | 30,835,205.73 | 23,464,234.29 | | Basic Earnings Per Share | 0.13 | 0.10 | | Diluted Earnings Per Share | 0.13 | 0.10 | [4. Parent Company Income Statement](index=50&type=section&id=4.%20Parent%20Company%20Income%20Statement) In H1 2025, parent company operating revenue was **211.00 million yuan**, and net profit was **37.85 million yuan**, both showing growth Key Data from Parent Company Income Statement (First Half of 2025) | Item | H1 2025 (yuan) | H1 2024 (yuan) | | :--- | :--- | :--- | | Operating Revenue | 210,745,730.28 | 168,117,137.72 | | Operating Profit | 43,103,461.53 | 27,354,596.50 | | Total Profit | 42,980,684.13 | 27,319,263.44 | | Net Profit | 37,847,461.80 | 24,397,767.09 | [5. Consolidated Cash Flow Statement](index=52&type=section&id=5.%20Consolidated%20Cash%20Flow%20Statement) Net cash from operating activities was **43.94 million yuan** (up **13.11%**); investing activities were **-18.65 million yuan**; financing activities were **-47.72 million yuan** Key Data from Consolidated Cash Flow Statement (First Half of 2025) | Item | H1 2025 (yuan) | H1 2024 (yuan) | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | 43,943,356.64 | 38,850,791.54 | | Net Cash Flow from Investing Activities | -18,653,790.75 | -11,657,255.33 | | Net Cash Flow from Financing Activities | -47,715,349.09 | -42,466,083.17 | | Net Increase in Cash and Cash Equivalents | -21,442,858.29 | -15,031,658.06 | | Cash and Cash Equivalents at Period-End | 84,294,964.10 | 65,996,934.35 | - Net cash flow from investing activities decreased by **60.02%** year-on-year, primarily due to increased expenditures for wealth management and asset acquisition[49](index=49&type=chunk) - Net increase in cash and cash equivalents decreased by **42.65%** year-on-year, primarily due to increased payments for dividends and investments[50](index=50&type=chunk) [6. Parent Company Cash Flow Statement](index=54&type=section&id=6.%20Parent%20Company%20Cash%20Flow%20Statement) Net cash from operating activities was **50.41 million yuan**; investing activities were **-25.05 million yuan**; financing activities were **-43.73 million yuan** Key Data from Parent Company Cash Flow Statement (First Half of 2025) | Item | H1 2025 (yuan) | H1 2024 (yuan) | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | 50,408,216.90 | 39,726,744.75 | | Net Cash Flow from Investing Activities | -25,046,111.84 | -11,654,755.33 | | Net Cash Flow from Financing Activities | -43,733,987.75 | -42,379,396.37 | | Net Increase in Cash and Cash Equivalents | -17,661,238.67 | -14,085,147.04 | | Cash and Cash Equivalents at Period-End | 76,800,507.55 | 56,085,026.06 | [7. Consolidated Statement of Changes in Owners' Equity](index=55&type=section&id=7.%20Consolidated%20Statement%20of%20Changes%20in%20Owners%27%20Equity) Consolidated owners' equity totaled **584.25 million yuan**; key changes included **30.18 million yuan** in comprehensive income and **39.01 million yuan** reduction from profit distribution Consolidated Statement of Changes in Owners' Equity (First Half of 2025) | Item | Share Capital (yuan) | Capital Reserve (yuan) | Less: Treasury Stock (yuan) | Other Comprehensive Income (yuan) | Surplus Reserve (yuan) | Retained Earnings (yuan) | Total Owners' Equity Attributable to Parent Company (yuan) | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | II. Balance at Beginning of Current Year | 231,154,000.00 | 180,058,771.57 | 16,976,785.19 | -225,424.92 | 29,302,231.16 | 166,445,038.79 | 589,757,831.41 | | III. Changes in Current Period | 0.00 | 3,324,211.02 | 0.00 | -658,577.33 | 0.00 | -8,170,352.47 | -5,504,718.78 | | (I) Total Comprehensive Income | 0.00 | 0.00 | 0.00 | -658,577.33 | 0.00 | 30,835,205.73 | 30,176,628.40 | | (II) Owners' Contributions and Capital Reductions | 0.00 | 3,324,211.02 | 0.00 | 0.00 | 0.00 | 0.00 | 3,324,211.02 | | (III) Profit Distribution | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | -39,005,558.20 | -39,005,558.20 | | IV. Balance at End of Current Period | 231,154,000.00 | 183,382,982.59 | 16,976,785.19 | -884,002.25 | 29,302,231.16 | 158,274,686.32 | 584,253,112.63 | [8. Parent Company Statement of Changes in Owners' Equity](index=60&type=section&id=8.%20Parent%20Company%20Statement%20of%20Changes%20in%20Owners%27%20Equity) Parent company owners' equity totaled **590.44 million yuan**; key changes included **37.85 million yuan** in comprehensive income and **39.01 million yuan** reduction from profit distribution Parent Company Statement of Changes in Owners' Equity (First Half of 2025) | Item | Share Capital (yuan) | Capital Reserve (yuan) | Less: Treasury Stock (yuan) | Surplus Reserve (yuan) | Retained Earnings (yuan) | Total Owners' Equity (yuan) | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | II. Balance at Beginning of Current Year | 231,154,000.00 | 180,058,771.57 | 16,976,785.19 | 29,302,231.16 | 164,739,634.45 | 588,277,851.99 | | III. Changes in Current Period | 0.00 | 3,324,211.02 | 0.00 | 0.00 | -1,158,096.40 | 2,166,114.62 | | (I) Total Comprehensive Income | 0.00 | 0.00 | 0.00 | 0.00 | 37,847,461.80 | 37,847,461.80 | | (II) Owners' Contributions and Capital Reductions | 0.00 | 3,324,211.02 | 0.00 | 0.00 | 0.00 | 3,324,211.02 | | (III) Profit Distribution | 0.00 | 0.00 | 0.00 | 0.00 | -39,005,558.20 | -39,005,558.20 | | IV. Balance at End of Current Period | 231,154,000.00 | 183,382,982.59 | 16,976,785.19 | 29,302,231.16 | 163,581,538.05 | 590,443,966.61 | [III. Company Basic Information](index=65&type=section&id=III.%20Company%20Basic%20Information) This section outlines the company's historical evolution, legal representative, industry nature, main business activities, registered and headquarters addresses, and defines the scope of consolidated financial statements for the current period - The company, formerly Zhaoqing Jinsanjiang Chemical Co., Ltd., was restructured into Jinsanjiang (Zhaoqing) Silicon Material Co., Ltd. in December 2019[170](index=170&type=chunk) - As of June 30, 2025, the company's registered capital and share capital both amounted to **RMB 231,154,000.00**[171](index=171&type=chunk) - The company's legal representative is Zhao Guofa, its industry is basic chemical raw material manufacturing, and its main business activities include basic chemical raw material manufacturing, goods import and export, and technology import and export[172](index=172&type=chunk)[173](index=173&type=chunk)[174](index=174&type=chunk) - The company's consolidated scope for this period includes Jinsanjiang (Zhaoqing) Silicon Material Co., Ltd. and its various domestic and international subsidiaries[177](index=177&type=chunk) [(I) Company Overview](index=65&type=section&id=%28I%29%20Company%20Overview) Details the company's historical evolution, share capital, legal representative, industry, and main business activities - The company was wholly restructured into Jinsanjiang (Zhaoqing) Silicon Material Co., Ltd. in December 2019[170](index=170&type=chunk) - As of June 30, 2025, the company's registered capital and share capital both amounted to **RMB 231,154,000.00**[171](index=171&type=chunk) - The company's legal representative is Zhao Guofa, and its industry is basic chemical raw material manufacturing[172](index=172&type=chunk)[173](index=173&type=chunk) [(II) Scope of Consolidation](index=66&type=section&id=%28II%29%20Scope%20of%20Consolidation) This section specifies the entities included in the company's consolidated financial statements for the current period, including various subsidiaries - The company's consolidated scope for this period includes Jinsanjiang (Zhaoqing) Silicon Material Co., Ltd., Guangzhou Feixue Material Technology Co., Ltd., Jinsanjiang (Hong Kong) Co., Ltd., Jinsanjiang (USA) Technology Co., Ltd., Jinsanjiang Poland Sp. z o.o., Jinsanjiang Technology Mexico S.A. de C.V., and Jinsanjiang (Malaysia) Co., Ltd[177](index=177&type=chunk) [IV. Basis of Financial Statement Preparation](index=66&type=section&id=IV.%20Basis%20of%20Financial%20Statement%20Preparation) Financial statements are prepared on a going concern basis, adhering to accounting standards, with the company affirming its ability to continue for at least **12 months** - The company prepares its financial statements on a going concern basis, in accordance with "Enterprise Accounting Standards" and relevant regulations, based on actual transactions and events[178](index=178&type=chunk)[179](index=179&type=chunk) - The company possesses the ability to continue as a going concern for at least **12 months** from the end of this reporting period, with no significant matters affecting its going concern ability[180](index=180&type=chunk) [V. Significant Accounting Policies and Estimates](index=67&type=section&id=V.%20Significant%20Accounting%20Policies%20and%20Estimates) This section details the company's accounting standards, period, cycle, currency, and key policies for business combinations, financial instruments, and revenue recognition - The financial statements prepared by the company comply with the requirements of enterprise accounting standards, accurately and completely reflecting the company's financial position, operating results, and other information[182](index=182&type=chunk) - The company classifies financial assets into those measured at amortized cost, at fair value through other comprehensive income, and at fair value through profit or loss, based on the business model for managing financial assets and the contractual cash flow characteristics[213](index=213&type=chunk) - The company recognizes revenue when it satisfies a performance obligation in the contract, which is when the customer obtains control of the related goods[312](index=312&type=chunk) - The company applies impairment accounting based on expected credit losses for financial assets measured at amortized cost (including receivables), debt instrument investments measured at fair value through other comprehensive income, and lease receivables[228](index=228&type=chunk) [VI. Taxation](index=105&type=section&id=VI.%20Taxation) Main tax types and rates are listed, along with corporate income tax preferences for high-tech enterprises and VAT deductions for advanced manufacturing Main Tax Types and Rates | Tax Type | Tax Basis | Tax Rate | | :--- | :--- | :--- | | Value-Added Tax | Taxable Income | 6%, 9%, 13%, 16%, 23% | | Urban Maintenance and Construction Tax | Payable Turnover Tax | 7% | | Corporate Income Tax | Taxable Income | 9%, 15%, 16.5%, 25%, 30% Federal Tax Rate: 21%, New Jersey State Tax Rate: 6.5%-11.5% | | Education Surcharge | Payable Turnover Tax | 3% | | Local Education Surcharge | Payable Turnover Tax | 2% | - Jinsanjiang (Zhaoqing) Silicon Material Co., Ltd. is expected to pass the high-tech enterprise re-certification in 2025 and is provisionally subject to corporate income tax at a reduced rate of **15%**[355](index=355&type=chunk) - The company's subsidiary, Guangzhou Feixue Material Technology Co., Ltd., enjoys a corporate income tax policy for small and micro-profit enterprises, where taxable income is calculated at **25%** and corporate income tax is paid at a rate of **20%**[355](index=355&type=chunk) - Jinsanjiang (Zhaoqing) Silicon Material Co., Ltd. enjoys a preferential policy of an additional **5%** deduction from value-added tax for advanced manufacturing enterprises[356](index=356&type=chunk) [VII. Notes to Consolidated Financial Statement Items](index=106&type=section&id=VII.%20Notes%20to%20Consolidated%20Financial%20Statement%20Items) Detailed disclosures of consolidated financial statement items, including assets, liabilities, equity, income, and expenses, with explanations for significant changes - The period-end balance of monetary funds is **90,490,693.16 yuan**, including restricted funds of bank acceptance bill deposits of **6,195,729.06 yuan**[358](index=358&type=chunk) - The period-end book value of accounts receivable is **73,940,973.90 yuan**, with a bad debt provision rate of **5.00%**[374](index=374&type=chunk) - The period-end book value of inventory is **70,062,278.59 yuan**, with total inventory impairment provision and contract performance cost impairment provision of **545,360.16 yuan**[430](index=430&type=chunk) - The period-end book value of fixed assets is **370,852,469.29 yuan**, with accumulated depreciation of **141,458,670.58 yuan**[476](index=476&type=chunk) - Operating revenue for the current period amounted to **200,079,697.66 yuan**, and operating cost was **123,825,338.32 yuan**[584](index=584&type=chunk) - Administrative expenses for the current period amounted to **25,202,102.35 yuan**, sales expenses were **6,274,490.35 yuan**, and R&D expenses were **9,261,063.24 yuan**[589](index=589&type=chunk)[590](index=590&type=chunk)[591](index=591&type=chunk) [VIII. R&D Expenses](index=160&type=section&id=VIII.%20R%26D%20Expenses) Total R&D expenses for this period were **9.2611 million yuan**, all expensed, primarily for employee compensation, direct inputs, and depreciation R&D Expense Details | Item | Current Period Amount (yuan) | Prior Period Amount (yuan) | | :--- | :--- | :--- | | Employee Compensation | 4,560,406.75 | 3,885,581.19 | | Direct Inputs | 894,299.28 | 2,707,748.67 | | Depreciation and Amortization | 1,596,815.10 | 1,601,510.75 | | Entrusted Development Fees | 100,000.00 | 388,349.51 | | Share-Based Payments | 611,149.36 | 0.00 | | Other Expenses | 1,498,392.75 | 1,166,393.69 | | Total | 9,261,063.24 | 9,749,583.81 | | Of which: Expensed R&D Expenses | 9,261,063.24 | 9,749,583.81 | - There were no

Group 1 - The core viewpoint of the news is that Jin Sanjiang has shown significant financial activity, with a notable increase in financing and trading volumes, indicating a high level of investor interest [1][2]. - As of August 25, Jin Sanjiang's financing balance reached 67.47 million yuan, accounting for 2.39% of its market capitalization, which is above the 90th percentile of the past year [1]. - The company reported a revenue of 109 million yuan for the first quarter of 2025, representing a year-on-year growth of 34.79%, and a net profit of 15.43 million yuan, up 9.08% year-on-year [2]. Group 2 - Jin Sanjiang has a primary business focus on the research, production, and sales of precipitated silica, with 99.67% of its revenue derived from this product [1]. - The number of shareholders as of March 31 was 10,200, a decrease of 1.72% from the previous period, while the average circulating shares per person increased by 1.75% to 20,284 shares [2]. - The company has distributed a total of 129 million yuan in dividends since its A-share listing, with 98.45 million yuan distributed over the last three years [2].

Core Viewpoint - The company Jin Sanjiang (301059.SZ) plans to issue convertible bonds to raise up to RMB 29 million for the construction of a silica production base in Malaysia [1][2]. Group 1: Convertible Bond Issuance - The total amount to be raised from the issuance of convertible bonds is capped at RMB 29 million, including issuance costs [1][3]. - The bonds will be issued at par value, with each bond having a face value of RMB 100 [3]. - The maturity period for the bonds is set at six years from the date of issuance [3]. Group 2: Use of Proceeds - The total estimated investment for the Malaysia silica production base project is RMB 33,036.97 million, with RMB 29 million allocated from the bond issuance [2]. Group 3: Shareholder Rights and Distribution - The convertible bonds will be preferentially allocated to existing shareholders, with specific allocation amounts to be determined by the board of directors based on market conditions [4]. - Any remaining bonds after the preferential allocation will be offered to institutional investors and/or through online issuance on the Shenzhen Stock Exchange [4].