中矿资源集团股份有限公司 2025 年半年度报告全文 中矿资源集团股份有限公司 2025 年半年度报告 2025 年 8 月 1 中矿资源集团股份有限公司 2025 年半年度报告全文 第一节 重要提示、目录和释义 公司董事会及董事、高级管理人员保证半年度报告内容的真实、准确、完整，不存在 虚假记载、误导性陈述或者重大遗漏，并承担个别和连带的法律责任。 公司负责人王平卫、主管会计工作负责人姜延龙及会计机构负责人(会计主管人员)姜 延龙声明：保证本半年度报告中财务报告的真实、准确、完整。 所有董事均已出席了审议本次半年报的董事会会议。 本半年度报告涉及的未来计划、发展战略等前瞻性描述不构成公司对投资者的实质承 诺，敬请投资者注意投资风险。 公司存在的风险因素，敬请广大投资者注意。详细内容见本报告"第三节管理层讨论 与分析"之"十、公司面临的风险和应对措施"。 公司计划不派发现金红利，不送红股，不以公积金转增股本。 2 | 第一节 | 重要提示、目录和释义 2 | | --- | --- | | 第二节 | 公司简介和主要财务指标 6 | | 第三节 | 管理层讨论与分析 9 | | 第四节 | 公司治理、环境和社 ...

洽洽食品股份有限公司 2025 年半年度报告全文 洽洽食品股份有限公司 2025 年半年度报告 【2025 年 8 月】 1 洽洽食品股份有限公司 2025 年半年度报告全文 第一节 重要提示、目录和释义 所有董事均已出席了审议本次半年报的董事会会议。 本报告中提及的计划等前瞻性的描述不构成对投资者的实质承诺，投资者及相关人士均 应对此保持足够的风险认识，并且应当理解计划、预测与承诺之间的差异。 公司已在本报告中详细描述未来将面临的主要风险及应对措施，详情请査阅本报告"管 理层讨论与分析/十、公司面临的风险和应对措施"部分，请投资者注意投资风险。 公司计划不派发现金红利，不送红股，不以公积金转增股本。 2 公司董事会、监事会及董事、监事、高级管理人员保证半年度报告内容的真实、准确、 完整，不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和连带的法律责任。 | 第一节 | 重要提示、目录和释义 | | 2 | | --- | --- | --- | --- | | 第二节 | 公司简介和主要财务指标 | | 6 | | 第三节 | 管理层讨论与分析 | | 9 | | 第四节 | 公司治理、环境和社会 | | ...

安徽安科生物工程(集团)股份有限公司 2025 年半年度报告全文 1 安徽安科生物工程(集团)股份有限公司 2025 年半年度报告全文 安徽安科生物工程(集团)股份有限公司 2025 年半年度报告 公告编号：2025-041 【2025 年 8 月 22 日】 2 安徽安科生物工程(集团)股份有限公司 2025 年半年度报告全文 第一节 重要提示、目录和释义 公司董事会、监事会及董事、监事、高级管理人员保证半年度报告内容的 真实、准确、完整，不存在虚假记载、误导性陈述或者重大遗漏，并承担个别 和连带的法律责任。 公司负责人宋礼华、主管会计工作负责人胡成浩及会计机构负责人(会计 主管人员)胡成浩声明：保证本半年度报告中财务报告的真实、准确、完整。 所有董事均已出席了审议本次半年报的董事会会议。 本报告中涉及的未来计划等前瞻性陈述不构成公司对投资者的实质承诺， 敬请投资者理性投资，注意风险。 报告期内，公司可能存在新药研发不达预期的风险、行业政策变化及集中 带量采购导致药品降价的风险、业务整合及规模扩大带来的集团化管理风险、 投资项目收益不达预期的风险等，有关风险因素内容详见本报告中第三节"管 理层讨论与分析"之 ...

永兴特种材料科技股份有限公司 2025 年半年度报告全文 永兴特种材料科技股份有限公司 2025 年半年度报告 证券简称：永兴材料 证券代码：002756 2025 年 8 月 1 永兴特种材料科技股份有限公司 2025 年半年度报告全文 第一节 重要提示、目录和释义 公司董事会、监事会及董事、监事、高级管理人员保证半年度报告内容 的真实、准确、完整，不存在虚假记载、误导性陈述或者重大遗漏，并承担 个别和连带的法律责任。 公司负责人高兴江、主管会计工作负责人张骅及会计机构负责人(会计主 管人员)张骅声明：保证本半年度报告中财务报告的真实、准确、完整。 所有董事均已出席了审议本次半年报的董事会会议。 本报告中所涉及的发展战略、经营计划等前瞻性陈述不构成公司对投资者 的实质承诺，敬请广大投资者注意投资风险。 公司在本报告第三节"管理层讨论与分析"中"十、公司面临的风险和应 对措施"部分，详细描述了公司经营中可能存在的风险及应对措施，敬请投 资者关注相关内容。 公司经本次董事会审议通过的利润分配预案为：以 529,868,792 股为基 数，向全体股东每 10 股派发现金红利 3.00 元（含税），送红股 0 股（ ...

歌尔股份有限公司 2025 年半年度报告全文 歌尔股份有限公司 2025 年半年度报告 2025 年 08 月 1 歌尔股份有限公司 2025 年半年度报告全文 第一节 重要提示、目录和释义 公司董事会、监事会及董事、监事、高级管理人员保证半年度报告内容 的真实、准确、完整，不存在虚假记载、误导性陈述或者重大遗漏，并承担 个别和连带的法律责任。 公司负责人姜滨、主管会计工作负责人及会计机构负责人（会计主管人 员）李永志声明：保证本半年度报告中财务报告的真实、准确、完整。 所有董事均已出席了审议本次半年报的董事会会议。 公司存在市场风险、经营风险、管理风险。敬请广大投资者注意投资风 险。详细内容见本报告之"第三节、管理层讨论与分析之十、公司面临的风险 和应对措施"部分。 公司计划不派发现金红利，不送红股，不以公积金转增股本。 2 | | | 歌尔股份有限公司 2025 年半年度报告全文 备查文件目录 （一）载有公司负责人、主管会计工作负责人、会计机构负责人（会计主管人员）签 名并盖章的财务报表； （二）载有公司负责人签名和公司盖章的 2025 年半年度报告及其摘要原件； （三）报告期内在中国证券监督管理委员会指 ...

泰胜风能集团股份有限公司 2025 年半年度报告 2025-042 2025 年 8 月 泰胜风能集团股份有限公司 2025 年半年度报告 第一节 重要提示、目录和释义 公司董事会、监事会及董事、监事、高级管理人员保证半年度报告内容 的真实、准确、完整，不存在虚假记载、误导性陈述或者重大遗漏，并承担 个别和连带的法律责任。 公司负责人黎伟涛、主管会计工作负责人朱华及会计机构负责人（会计 主管人员）冯伟声明：保证本半年度报告中财务报告的真实、准确、完整。 所有董事均已出席了审议本次半年报的董事会会议。 本报告中涉及的 2025 年度相关经营计划等内容，不构成公司对 2025 年度 经营业绩的实质承诺，敬请投资者理性投资，注意投资风险。 公司面临的风险因素包括：原材料价格大幅波动的风险、项目合同延期的 风险、市场竞争的风险、内部经营管理的风险、行业政策变化的风险、汇率 波动风险、国际贸易政策风险等，敬请广大投资者注意投资风险。详细内容 请参阅"第三节 管理层讨论与分析"之"十、公司面临的风险和应对措施"。 公司计划不派发现金红利，不送红股，不以公积金转增股本。 2 | | 1 | | --- | --- | | ...

深圳市隆利科技股份有限公司 2025 年半年度报告全文 深圳市隆利科技股份有限公司 2025 年半年度报告 2025 年 8 月 21 日 公司在本报告第三节"管理层讨论与分析"之"十、公司面临的风险和应 对措施"，详细描述了公司经营中可能存在的风险及应对措施，敬请投资者 关注相关内容。 深圳市隆利科技股份有限公司 2025 年半年度报告全文 公司计划不派发现金红利，不送红股，不以公积金转增股本。 第一节 重要提示、目录和释义 公司董事会、监事会及董事、监事、高级管理人员保证半年度报告内容 的真实、准确、完整，不存在虚假记载、误导性陈述或者重大遗漏，并承担 个别和连带的法律责任。 公司负责人吴新理、主管会计工作负责人韩婷及会计机构负责人(会计主 管人员)刘愉愉声明：保证本半年度报告中财务报告的真实、准确、完整。 所有董事均已出席了审议本次半年报的董事会会议。 本报告中如涉及未来计划等前瞻性描述，不构成公司对投资者的实质性承 诺。该等前瞻性陈述内容是否能够实现，受市场环境、政策因素及公司业务 开展实际情况影响较大，存在不确定性。公司提醒投资者及相关人士对此保 持足够的风险认识，并理解计划、预测与承诺之间的差异。 ...

[Important Notices, Table of Contents, and Definitions](index=2&type=section&id=Section%201%20Important%20Notices%2C%20Table%20of%20Contents%2C%20and%20Definitions) [Important Notices](index=2&type=section&id=Important%20Notices) The Board of Directors, Supervisory Committee, and senior management guarantee the truthfulness, accuracy, and completeness of the semi-annual report and have approved a profit distribution plan - The Board of Directors, Supervisory Committee, and senior management affirm the **truthfulness, accuracy, and completeness** of the semi-annual report's content[4](index=4&type=chunk) - The company has approved a profit distribution plan to issue a **cash dividend of 1.42 Yuan (tax included) per 10 shares** to all shareholders, based on a total of 244,343,720 shares[4](index=4&type=chunk) [Reference Documents Directory](index=4&type=section&id=Reference%20Documents%20Directory) Reference documents, including signed financial statements and audit reports, are available at the company's Board of Directors' office - Reference documents include signed and sealed financial statements, original audit reports, and publicly disclosed company documents[8](index=8&type=chunk)[9](index=9&type=chunk)[10](index=10&type=chunk) - All reference documents are kept at the company's Board of Directors' office[11](index=11&type=chunk) [Definitions](index=5&type=section&id=Definitions) This section defines common terms used in the report, including company names, regulatory bodies, reporting periods, and technical terms related to millimeter-wave microsystems - The reporting period refers to January-June 2025, and the end of the reporting period is June 30, 2025[12](index=12&type=chunk) - A TR module is the part of a wireless transceiver system that connects the intermediate frequency processing unit to the antenna, performing signal amplification, phase shifting, and attenuation[12](index=12&type=chunk) - An array antenna is a system composed of multiple antennas, offering higher gain, narrower beamwidth, and better anti-interference performance[12](index=12&type=chunk) - Millimeter-wave refers to electromagnetic waves with frequencies from 30GHz to 300GHz and wavelengths between 1 and 10 millimeters[12](index=12&type=chunk) [Company Profile and Key Financial Indicators](index=6&type=section&id=Section%202%20Company%20Profile%20and%20Key%20Financial%20Indicators) [Company Profile](index=6&type=section&id=I.%20Company%20Profile) Chengdu RML Technology Co, Ltd, stock ticker "RML", code 301050, is listed on the Shenzhen Stock Exchange - Company stock name: RML, stock code: 301050[15](index=15&type=chunk) - The company's stock is listed on the Shenzhen Stock Exchange[15](index=15&type=chunk) [Contacts and Contact Information](index=6&type=section&id=II.%20Contacts%20and%20Contact%20Information) The company's Board Secretary is Liu Fengjuan and the Securities Affairs Representative is Zhang Shuping - Board Secretary: Liu Fengjuan, Securities Affairs Representative: Zhang Shuping[16](index=16&type=chunk) - Contact address: No 19, Section 4, Huafu Avenue, Shuangliu District, Chengdu; Phone/Fax: 028-85750702; Email: rml@rml138.com[16](index=16&type=chunk) [Other Information](index=6&type=section&id=III.%20Other%20Information) During the reporting period, there were no changes to the company's registered address, office address, website, email, or information disclosure locations - The company's contact information, information disclosure and filing locations, and registration details remained unchanged during the reporting period[17](index=17&type=chunk)[18](index=18&type=chunk)[19](index=19&type=chunk) [Key Accounting Data and Financial Indicators](index=7&type=section&id=IV.%20Key%20Accounting%20Data%20and%20Financial%20Indicators) In H1 2025, revenue and net profit declined significantly year-over-year, while net cash flow from operating activities grew substantially Key Accounting Data and Financial Indicators for H1 2025 (YoY) | Indicator | Current Period (Yuan) | Prior Year Period (Adjusted) (Yuan) | YoY Change | | :--- | :--- | :--- | :--- | | Operating Revenue | 462,251,132.08 | 700,880,707.46 | -34.05% | | Net Profit Attributable to Shareholders of the Listed Company | 116,235,182.78 | 208,368,101.01 | -44.22% | | Net Profit Attributable to Shareholders of the Listed Company after Deducting Non-recurring Gains and Losses | 105,403,161.53 | 193,273,240.05 | -45.46% | | Net Cash Flow from Operating Activities | 213,214,556.51 | -136,432,070.72 | 256.28% | | Basic Earnings per Share (Yuan/share) | 0.48 | 0.87 | -44.83% | | Diluted Earnings per Share (Yuan/share) | 0.47 | 0.86 | -45.35% | | Weighted Average Return on Net Assets | 3.79% | 7.68% | -3.89% | | Total Assets (Yuan) | 4,002,653,862.92 | 3,661,874,501.50 | 9.31% | | Net Assets Attributable to Shareholders of the Listed Company (Yuan) | 3,075,288,456.83 | 2,972,849,416.82 | 3.45% | - Due to a change in accounting standards application guidance, the company retrospectively adjusted the recognition method for share-based payment costs for the prior year period, with **no impact on net profit**[21](index=21&type=chunk) [Differences in Accounting Data under Domestic and Foreign Accounting Standards](index=7&type=section&id=V.%20Differences%20in%20Accounting%20Data%20under%20Domestic%20and%20Foreign%20Accounting%20Standards) There were no discrepancies in net profit or net assets between financial reports prepared under Chinese accounting standards and international or foreign accounting standards - The company reports no discrepancies in accounting data under domestic versus foreign accounting standards for the reporting period[22](index=22&type=chunk)[24](index=24&type=chunk) [Non-recurring Profit and Loss Items and Amounts](index=8&type=section&id=VI.%20Non-recurring%20Profit%20and%20Loss%20Items%20and%20Amounts) Non-recurring profit and loss for the reporting period totaled 10.83 million Yuan, primarily from government grants and gains from financial assets Non-recurring Profit and Loss Items and Amounts for H1 2025 | Item | Amount (Yuan) | Description | | :--- | :--- | :--- | | Gains and losses on disposal of non-current assets | -72,883.49 | | | Government grants recognized in current profit or loss | 2,711,500.00 | | | Gains and losses from changes in fair value of financial assets and liabilities held by non-financial enterprises, and gains and losses from their disposal | 9,764,694.67 | | | Gains and losses from entrusting others to invest or manage assets | 274,437.42 | | | Other non-operating income and expenses | 67,242.26 | | | Less: Income tax impact | 1,912,969.61 | | | Total | 10,832,021.25 | | - The company did not reclassify any non-recurring profit and loss items as recurring items[27](index=27&type=chunk) [Management Discussion and Analysis](index=9&type=section&id=Section%203%20Management%20Discussion%20and%20Analysis) [Principal Business Activities during the Reporting Period](index=9&type=section&id=I.%20Principal%20Business%20Activities%20during%20the%20Reporting%20Period) The company specializes in millimeter-wave microsystems, including TR modules and array antennas, serving radar and communication sectors while expanding into emerging markets - The company's main products are millimeter-wave microsystems, including **TR modules and array antennas**, for applications in radar and communications[31](index=31&type=chunk) - Products feature high integration, high power output, and high reliability, with applications extending to emerging fields like **satellite communications and commercial aerospace**[31](index=31&type=chunk) - The company operates in the "C39 Computer, Communication and Other Electronic Equipment Manufacturing" industry, benefiting from national strategies for **intelligent, systematic, and information-based development**[29](index=29&type=chunk)[30](index=30&type=chunk) - The company's R&D, production, procurement, and sales models remained stable during the reporting period[32](index=32&type=chunk) - The company maintains a competitive edge in the domestic millimeter-wave microsystem sector through **technological leadership and low-cost manufacturing**[34](index=34&type=chunk) - Performance drivers include supportive national policies (e.g., commercial aerospace, satellite communications) and the company's **end-to-end core technology and low-cost mass production capabilities**[35](index=35&type=chunk)[36](index=36&type=chunk) [Core Competitiveness Analysis](index=10&type=section&id=II.%20Core%20Competitiveness%20Analysis) In H1 2025, the company reinforced its core competitiveness in millimeter-wave microsystems through advancements in R&D, lean manufacturing, supply chain synergy, and talent development - The company has deep expertise in millimeter-wave microsystems with core technologies and full-system R&D capabilities, obtaining **4 new patents** in the reporting period for a total of 147 patents[38](index=38&type=chunk) - The company advanced its lean production strategy by introducing automated equipment and optimizing production processes, supporting **low-cost, large-scale manufacturing**[39](index=39&type=chunk)[40](index=40&type=chunk) - The company strengthened its supply chain by enhancing supplier assessments, pursuing domestic substitution, and fostering technical collaboration to ensure quality and optimize costs[41](index=41&type=chunk) - The company improved its talent pipeline and incentive mechanisms through a combination of internal training and external recruitment, boosting team cohesion and innovation[42](index=42&type=chunk) [Analysis of Main Business Operations](index=11&type=section&id=III.%20Analysis%20of%20Main%20Business%20Operations) In H1 2025, revenue and net profit declined sharply due to insufficient industry orders, prompting strategic initiatives in customer expansion, supply chain optimization, and R&D investment - In H1 2025, operating revenue was **462 million Yuan**, a year-on-year decrease of **34.05%**, while net profit attributable to shareholders was **116 million Yuan**, down **44.22%**[43](index=43&type=chunk) - The performance decline was primarily due to **insufficient new orders in 2024**, leading to fewer product acceptances in the current period[43](index=43&type=chunk) - Strategic measures include deepening relationships with specialized clients, expanding into new markets like satellite communications, strengthening supply chain partnerships, and increasing R&D investment[43](index=43&type=chunk) - R&D expenses for the period were **44.00 million Yuan**, accounting for **9.52%** of operating revenue[43](index=43&type=chunk) Year-on-Year Changes in Key Financial Data | Indicator | Current Period (Yuan) | Prior Year Period (Yuan) | YoY Change | Reason for Change | | :--- | :--- | :--- | :--- | :--- | | Operating Revenue | 462,251,132.08 | 700,880,707.46 | -34.05% | Fewer product deliveries and acceptances | | Operating Cost | 235,937,219.61 | 431,334,137.04 | -45.30% | Decreased in line with lower operating revenue | | Selling Expenses | 7,941,530.01 | 8,676,025.51 | -8.47% | Reduced share-based payment expenses from equity incentives | | Administrative Expenses | 26,089,100.62 | 42,021,560.98 | -37.91% | Reduced share-based payment expenses from equity incentives | | Financial Expenses | -9,942,719.51 | -15,969,478.61 | 37.74% | Lower bank demand deposit balances resulted in less interest income | | Income Tax Expense | 19,581,746.01 | 41,849,502.12 | -53.21% | Decrease in total profit | | R&D Investment | 43,998,726.35 | 41,918,138.58 | 4.96% | Increased R&D consumption and personnel investment despite lower share-based payment expenses | | Net Cash Flow from Operating Activities | 213,214,556.51 | -136,432,070.72 | 256.28% | Increased advance payments and sales collections exceeded procurement payments | | Net Cash Flow from Investing Activities | -179,149,451.52 | 83,555,465.35 | -314.41% | Cash management investments exceeded matured returns | | Net Cash Flow from Financing Activities | -50,573,420.29 | -198,779,658.83 | 74.56% | Reduced share repurchase expenses compared to the prior period's repurchases and dividend payments | | Net Increase in Cash and Cash Equivalents | -16,508,315.30 | -251,656,264.20 | 93.44% | Significant increase in net cash inflow from operating activities | Products or Services Accounting for Over 10% of Revenue | Product/Service | Operating Revenue (Yuan) | Operating Cost (Yuan) | Gross Margin | YoY Change in Revenue | YoY Change in Cost | YoY Change in Gross Margin | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Array Antenna | 462,070,000.00 | 235,935,764.92 | 48.94% | 274.44% | 265.45% | 1.26% | [Analysis of Non-main Business Operations](index=12&type=section&id=IV.%20Analysis%20of%20Non-main%20Business%20Operations) Non-main business operations significantly impacted total profit, with investment income contributing 20.39% while fair value changes and credit impairment losses had negative impacts Impact of Non-main Business Operations on Total Profit | Item | Amount (Yuan) | % of Total Profit | Reason | Sustainability | | :--- | :--- | :--- | :--- | :--- | | Investment Income | 27,690,736.90 | 20.39% | Income from cash management | No | | Fair Value Change Gains/Losses | -17,651,604.81 | -13.00% | Fair value changes in trading financial assets | No | | Asset Impairment | -11,092,455.36 | -8.17% | Provision for inventory write-down | No | | Credit Impairment Losses | -23,472,436.01 | -17.28% | Provision for bad debts | No | | Other Income | 2,837,761.80 | 2.09% | Government grants | No | [Analysis of Assets and Liabilities](index=13&type=section&id=V.%20Analysis%20of%20Assets%20and%20Liabilities) At the end of the reporting period, total assets and net assets attributable to shareholders grew by 9.31% and 3.45% respectively, with notable increases in accounts receivable and contract liabilities Significant Changes in Asset Composition | Item | Closing Balance (Yuan) | % of Total Assets | Opening Balance (Yuan) | % of Total Assets | Change in Proportion | Reason for Significant Change | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Cash and Cash Equivalents | 952,219,832.78 | 23.79% | 968,728,157.58 | 26.45% | -2.66% | No significant change | | Accounts Receivable | 555,081,106.75 | 13.87% | 298,093,750.61 | 8.14% | 5.73% | Revenue recognized from accepted orders not yet due for settlement | | Inventory | 1,238,776,086.83 | 30.95% | 1,315,905,808.23 | 35.94% | -4.99% | Decrease as goods sent out were gradually accepted | | Contract Liabilities | 573,987,875.43 | 14.34% | 264,791,235.16 | 7.23% | 7.11% | Increase in advance payments received from contracts | | Notes Payable | 19,610,189.96 | 0.49% | 189,964,194.25 | 5.19% | -4.70% | Matured commercial acceptance bills were paid, and new issuances were less than matured payments | - The company had no major overseas assets during the reporting period[55](index=55&type=chunk) Changes in Financial Assets Measured at Fair Value | Item | Opening Balance (Yuan) | Fair Value Change Gains/Losses (Yuan) | Purchases during the Period (Yuan) | Sales during the Period (Yuan) | Closing Balance (Yuan) | | :--- | :--- | :--- | :--- | :--- | :--- | | Trading Financial Assets | 723,913,029.45 | -17,651,604.81 | 795,000,000.00 | 600,000,000.00 | 901,261,424.64 | - At the period end, **13.97 million Yuan** of cash and cash equivalents were restricted due to unaccepted government grant projects, restricted ETC funds, and funds in the share repurchase account[57](index=57&type=chunk) [Investment Analysis](index=14&type=section&id=VI.%20Investment%20Analysis) Total investment decreased by 37.38% year-over-year, with the primary activity being investments in financial assets measured at fair value, totaling 901 million Yuan at period-end Changes in Investment Amount during the Reporting Period | Indicator | Investment Amount (Yuan) | Prior Year Investment Amount (Yuan) | Change | | :--- | :--- | :--- | :--- | | Total Investment | 806,662,978.41 | 1,288,188,778.46 | -37.38% | - There were no significant equity or non-equity investments during the reporting period[59](index=59&type=chunk) Financial Assets Measured at Fair Value | Asset Class | Initial Investment Cost (Yuan) | Fair Value Change Gains/Losses (Yuan) | Purchases during the Period (Yuan) | Sales during the Period (Yuan) | Closing Amount (Yuan) | Funding Source | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Other | 694,973,428.99 | -17,651,604.81 | 795,000,000.00 | 600,000,000.00 | 901,261,424.64 | Own funds | - As of June 30, 2025, the company had cumulatively invested **1.204 billion Yuan** of raised funds, with accumulated interest and wealth management income of **51.85 million Yuan**[64](index=64&type=chunk) - During the period, **206 million Yuan** of surplus raised funds were used to permanently supplement working capital, leaving a zero balance of surplus raised funds[64](index=64&type=chunk) Status of Committed Fundraising Projects (as of June 30, 2025) | Project Name | Committed Investment (10,000 Yuan) | Cumulative Investment (10,000 Yuan) | Investment Progress | | :--- | :--- | :--- | :--- | | Production Base Technical Upgrade and Expansion Project | 22,500 | 14,955.64 | 66.47% | | R&D Center Construction Project | 20,500 | 9,917.02 | 48.38% | | Supplementary Working Capital Project | 20,000 | 20,000 | 100.00% | | Permanent Supplementary Working Capital (Excess Funds) | 72,811.54 | 75,545.05 | 103.75% | - The production base and R&D center projects have been completed with surplus funds due to optimized planning, resource utilization, cost control, and cash management income[68](index=68&type=chunk) Entrusted Wealth Management Overview | Type | Funding Source | Amount Entrusted (10,000 Yuan) | Outstanding Balance (10,000 Yuan) | | :--- | :--- | :--- | :--- | | Bank Wealth Management Products | Raised Funds | 13,000 | 0 | | Bank Wealth Management Products | Own Funds | 64,500 | 56,500 | | Brokerage Wealth Management Products | Own Funds | 4,000 | 4,000 | | Total | | 81,500 | 60,500 | - The company had no derivatives investments or entrusted loans during the reporting period[72](index=72&type=chunk)[73](index=73&type=chunk) [Significant Asset and Equity Sales](index=19&type=section&id=VII.%20Significant%20Asset%20and%20Equity%20Sales) The company did not engage in any significant sales of assets or equity during the reporting period - The company did not sell any significant assets or equity during the reporting period[74](index=74&type=chunk)[75](index=75&type=chunk) [Analysis of Major Holding and Associated Companies](index=19&type=section&id=VIII.%20Analysis%20of%20Major%20Holding%20and%20Associated%20Companies) The main subsidiary, Chengdu RML Micro-crystal Technology, reported a net profit of 731,353.73 Yuan, and a new subsidiary, Sichuan Yisu Technology, was established in January 2025 Major Subsidiaries | Company Name | Company Type | Main Business | Registered Capital (Yuan) | Net Profit (Yuan) | | :--- | :--- | :--- | :--- | :--- | | Chengdu RML Micro-crystal Technology Co, Ltd | Subsidiary | Microwave testing services | 55,000,000.00 | 731,353.73 | - On January 14, 2025, the company established a wholly-owned subsidiary, Sichuan Yisu Technology Development Co, Ltd, with a registered capital of **50 million Yuan**, which has not yet commenced operations[76](index=76&type=chunk) [Information on Structured Entities Controlled by the Company](index=19&type=section&id=IX.%20Information%20on%20Structured%20Entities%20Controlled%20by%20the%20Company) The company did not control any structured entities during the reporting period - The company did not control any structured entities during the reporting period[77](index=77&type=chunk) [Risks and Countermeasures](index=20&type=section&id=X.%20Risks%20and%20Countermeasures) The company faces risks from market competition, talent acquisition, and product quality, which it addresses through innovation, cost advantages, talent development, and stringent quality control - **Market Risk**: The specialized market has high technical barriers, but emerging industries are intensifying competition, requiring continuous innovation and cost leadership[78](index=78&type=chunk) - **Human Resources Risk**: Competition for talent in the high-tech sector is increasing; the company is strengthening its talent pipeline and retention through internal training, external recruitment, and improved systems[79](index=79&type=chunk) - **Product Quality Risk**: To meet high customer standards for quality and reliability, the company has implemented a comprehensive quality control system covering the entire product lifecycle[80](index=80&type=chunk) [Record of Investor Relations Activities during the Reporting Period](index=20&type=section&id=XI.%20Record%20of%20Investor%20Relations%20Activities%20during%20the%20Reporting%20Period) On May 9, 2025, the company held its 2024 annual online performance briefing to address investor questions on strategy and operations - On May 9, 2025, the company held its **2024 annual online performance briefing** to answer investor questions regarding its strategic planning, development direction, and business operations[81](index=81&type=chunk) [Implementation of Market Value Management System and Valuation Enhancement Plan](index=20&type=section&id=XII.%20Implementation%20of%20Market%20Value%20Management%20System%20and%20Valuation%20Enhancement%20Plan) The company has established a "Market Value Management System" to enhance investment value but has not yet disclosed a valuation enhancement plan - The company has formulated a **"Market Value Management System"** to strengthen market value management and enhance its investment value[82](index=82&type=chunk) - The company has not yet disclosed a valuation enhancement plan[83](index=83&type=chunk) [Implementation of the "Dual Improvement in Quality and Returns" Action Plan](index=21&type=section&id=XIII.%20Implementation%20of%20the%20%22Dual%20Improvement%20in%20Quality%20and%20Returns%22%20Action%20Plan) The company has not yet announced an action plan for the "Dual Improvement in Quality and Returns" initiative - The company has not yet disclosed an action plan for the "Dual Improvement in Quality and Returns"[83](index=83&type=chunk) [Corporate Governance, Environmental, and Social](index=22&type=section&id=Section%204%20Corporate%20Governance%2C%20Environmental%2C%20and%20Social) [Changes in Directors, Supervisors, and Senior Management](index=22&type=section&id=I.%20Changes%20in%20Directors%2C%20Supervisors%2C%20and%20Senior%20Management) During the reporting period, Director Liao Jie resigned, and Ye Tao and Ye Yong were appointed as Deputy General Managers Changes in Directors, Supervisors, and Senior Management | Name | Position | Type | Date | Reason | | :--- | :--- | :--- | :--- | :--- | | Liao Jie | Director, Deputy General Manager | Resignation | 2025-04-25 | Work transfer | | Ye Tao | Deputy General Manager | Appointment | 2025-04-24 | Work transfer | | Ye Yong | Deputy General Manager, Chief Engineer | Appointment | 2025-04-24 | Work transfer | [Profit Distribution and Capitalization of Capital Reserve for the Reporting Period](index=22&type=section&id=II.%20Profit%20Distribution%20and%20Capitalization%20of%20Capital%20Reserve%20for%20the%20Reporting%20Period) The company plans to distribute a cash dividend of 1.42 Yuan (tax included) per 10 shares, totaling 34.70 million Yuan, with no bonus shares or capitalization of capital reserves H1 2025 Profit Distribution Plan | Indicator | Amount | | :--- | :--- | | Bonus shares per 10 shares (shares) | 0 | | Cash dividend per 10 shares (Yuan) (tax included) | 1.42 | | Share base for distribution plan (shares) | 244,343,720 | | Cash dividend amount (Yuan) (tax included) | 34,696,808.24 | | Total cash distribution (including other methods) (Yuan) | 34,696,808.24 | | Distributable profit (Yuan) | 116,000,347.78 | | Ratio of total cash distribution to total profit distribution | 100.00% | - The company plans to distribute cash dividends based on the total share capital of **244,343,720 shares** as of June 30, 2025, after deducting repurchased shares[86](index=86&type=chunk)[88](index=88&type=chunk) [Implementation of Equity Incentive Plans, Employee Stock Ownership Plans, or Other Employee Incentives](index=22&type=section&id=III.%20Implementation%20of%20Equity%20Incentive%20Plans%2C%20Employee%20Stock%20Ownership%20Plans%2C%20or%20Other%20Employee%20Incentives) The company has implemented the 2022 and 2023 restricted stock incentive plans with no new developments in the reporting period - The company has implemented the **2022 and 2023 restricted stock incentive plans**, with no new progress during the reporting period[87](index=87&type=chunk) - The company did not implement any employee stock ownership plans or other employee incentive measures during the reporting period[88](index=88&type=chunk) [Environmental Information Disclosure](index=23&type=section&id=IV.%20Environmental%20Information%20Disclosure) The company and its major subsidiaries are not listed as enterprises required to disclose environmental information by law - The company and its major subsidiaries are not included in the list of enterprises required to legally disclose environmental information[89](index=89&type=chunk) [Social Responsibility](index=23&type=section&id=V.%20Social%20Responsibility) The company actively practices sustainable development by protecting shareholder rights, caring for employees, strengthening supply chain collaboration, and contributing to social and environmental initiatives - The company protects shareholder rights through **transparent information disclosure** and diverse investor communication channels[90](index=90&type=chunk) - The company enhances employee welfare through occupational health protection, comprehensive benefits, and support mechanisms for employees in need[91](index=91&type=chunk) - The company strengthens strategic partnerships with suppliers and ensures customer rights by adhering to strict quality management standards[92](index=92&type=chunk) - The company supports rural revitalization through donations and targeted procurement of local agricultural products, promoting both social welfare and low-carbon development[93](index=93&type=chunk) [Significant Matters](index=24&type=section&id=Section%205%20Significant%20Matters) [Fulfillment of Commitments](index=24&type=section&id=I.%20Fulfillment%20of%20Commitments%20by%20the%20Company%2C%20its%20Controlling%20Shareholders%2C%20Related%20Parties%2C%20Acquirers%2C%20and%20Other%20Relevant%20Parties%20during%20the%20Reporting%20Period) All relevant parties, including the actual controller and shareholders, have duly fulfilled their commitments regarding share lock-ups, shareholding reductions, and equity incentives - Relevant parties, including Deng Jieru, Wuhan Research Institute, Deng Hongzhong, Wu Xi, and Liao Jie, have **duly fulfilled their commitments** regarding share lock-ups and reductions made during the IPO or subsequent financing[95](index=95&type=chunk)[96](index=96&type=chunk)[97](index=97&type=chunk) - The company has fulfilled its equity incentive commitments and has not provided loans or financial assistance to incentive recipients[98](index=98&type=chunk) - All commitments were fulfilled on time during the reporting period, with no overdue unfulfilled commitments[98](index=98&type=chunk) [Non-operational Use of Company Funds](index=27&type=section&id=II.%20Non-operational%20Use%20of%20Company%20Funds%20by%20Controlling%20Shareholders%20and%20Other%20Related%20Parties) There was no non-operational use of the company's funds by its controlling shareholders or other related parties during the reporting period - There was no non-operational use of company funds by controlling shareholders or other related parties during the reporting period[99](index=99&type=chunk) [Irregular External Guarantees](index=28&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[100](index=100&type=chunk) [Appointment and Dismissal of Accounting Firm](index=28&type=section&id=IV.%20Appointment%20and%20Dismissal%20of%20Accounting%20Firm) The company's semi-annual financial report has not been audited - The company's semi-annual report has not been audited[101](index=101&type=chunk) [Explanation from the Board of Directors, Supervisory Committee, and Audit Committee on the "Non-standard Audit Report"](index=28&type=section&id=V.%20Explanation%20from%20the%20Board%20of%20Directors%2C%20Supervisory%20Committee%2C%20and%20Audit%20Committee%20on%20the%20%22Non-standard%20Audit%20Report%22) There was no non-standard audit report for the current reporting period - There was no non-standard audit report for the current reporting period[102](index=102&type=chunk) [Explanation from the Board of Directors on the Previous Year's "Non-standard Audit Report"](index=28&type=section&id=VI.%20Explanation%20from%20the%20Board%20of%20Directors%20on%20the%20Previous%20Year's%20%22Non-standard%20Audit%20Report%22) There was no non-standard audit report for the previous year - There was no non-standard audit report for the previous year[102](index=102&type=chunk) [Bankruptcy and Reorganization Matters](index=28&type=section&id=VII.%20Bankruptcy%20and%20Reorganization%20Matters) The company was not involved in any bankruptcy or reorganization matters during the reporting period - The company was not involved in any bankruptcy or reorganization matters during the reporting period[102](index=102&type=chunk) [Litigation Matters](index=28&type=section&id=VIII.%20Litigation%20Matters) There were no significant litigation or arbitration matters during the reporting period - There were no significant litigation or arbitration matters during the reporting period[103](index=103&type=chunk) [Penalties and Rectifications](index=28&type=section&id=IX.%20Penalties%20and%20Rectifications) The company was not subject to any penalties or rectifications during the reporting period - The company was not subject to any penalties or rectifications during the reporting period[103](index=103&type=chunk) [Integrity Status of the Company, its Controlling Shareholders, and Actual Controllers](index=28&type=section&id=X.%20Integrity%20Status%20of%20the%20Company%2C%20its%20Controlling%20Shareholders%2C%20and%20Actual%20Controllers) There were no issues concerning the integrity of the company, its controlling shareholders, or its actual controllers during the reporting period - There were no integrity issues concerning the company, its controlling shareholders, or actual controllers during the reporting period[104](index=104&type=chunk) [Significant Related-party Transactions](index=28&type=section&id=XI.%20Significant%20Related-party%20Transactions) The company did not engage in any significant related-party transactions related to daily operations, asset acquisitions, or financing during the reporting period - The company had no related-party transactions related to daily operations during the reporting period[104](index=104&type=chunk) - The company had no related-party transactions involving the acquisition or sale of assets or equity[105](index=105&type=chunk) - There were no related-party credit or debt transactions during the reporting period[106](index=106&type=chunk) - There were no other significant related-party transactions during the reporting period[107](index=107&type=chunk) [Significant Contracts and Their Performance](index=29&type=section&id=XII.%20Significant%20Contracts%20and%20Their%20Performance) The company had no significant contracts for custody, contracting, leasing, guarantees, or other major business activities during the reporting period - The company had no custody, contracting, or leasing arrangements during the reporting period[107](index=107&type=chunk)[108](index=108&type=chunk)[109](index=109&type=chunk) - The company had no significant guarantees during the reporting period[111](index=111&type=chunk) - The company had no significant contracts related to daily operations or other major matters[112](index=112&type=chunk) [Explanation of Other Significant Matters](index=30&type=section&id=XIII.%20Explanation%20of%20Other%20Significant%20Matters) There were no other significant matters that require disclosure for the reporting period - There were no other significant matters to be explained for the reporting period[113](index=113&type=chunk) [Significant Matters of Subsidiaries](index=30&type=section&id=XIV.%20Significant%20Matters%20of%20Subsidiaries) There were no significant matters concerning the company's subsidiaries during the reporting period - There were no significant matters concerning subsidiaries during the reporting period[114](index=114&type=chunk) [Share Capital Changes and Shareholder Information](index=31&type=section&id=Section%206%20Share%20Capital%20Changes%20and%20Shareholder%20Information) [Changes in Share Capital](index=31&type=section&id=I.%20Changes%20in%20Share%20Capital) The total number of shares remained unchanged at 244,791,768, while restricted shares increased by 146,650 due to changes in senior management share lock-ups Changes in Share Capital | Item | Pre-change Quantity (shares) | Change (+/-) (shares) | Post-change Quantity (shares) | | :--- | :--- | :--- | :--- | | I. Restricted Shares | 36,699,855 | 146,650 | 36,846,505 | | II. Unrestricted Shares | 208,091,913 | -146,650 | 207,945,263 | | III. Total Shares | 244,791,768 | 0 | 244,791,768 | - The change in share structure was primarily due to adjustments in the number of restricted shares held by senior management, with **no change in the total number of shares**[117](index=117&type=chunk)[118](index=118&type=chunk) Changes in Restricted Shares | Shareholder Name | Opening Restricted Shares (shares) | Released this Period (shares) | Added this Period (shares) | Closing Restricted Shares (shares) | Reason for Restriction | | :--- | :--- | :--- | :--- | :--- | :--- | | Ye Tao | 0 | 0 | 9,750 | 9,750 | Appointed as Deputy GM, 75% of shares locked | | Liao Jie | 418,993 | 0 | 139,664 | 558,657 | Resigned director/senior management share lock-up | | Zhong Shijun | 11,064 | 2,766 | 0 | 8,298 | Resigned senior management share lock-up | | Total | 430,057 | 2,766 | 149,414 | 576,705 | | [Securities Issuance and Listing](index=32&type=section&id=II.%20Securities%20Issuance%20and%20Listing) The company did not issue or list any securities during the reporting period - The company did not issue or list any securities during the reporting period[120](index=120&type=chunk) [Number of Shareholders and Shareholding Status](index=32&type=section&id=III.%20Number%20of%20Shareholders%20and%20Shareholding%20Status) At the end of the period, the company had 41,498 common shareholders, with Deng Jieru being the largest shareholder at 19.33% - The total number of common shareholders at the end of the reporting period was **41,498**[121](index=121&type=chunk) Top 10 Shareholders or Shareholders with over 5% Holding | Shareholder Name | Shareholder Type | Shareholding Ratio | Shares Held at Period End (shares) | Restricted Shares Held (shares) | Unrestricted Shares Held (shares) | | :--- | :--- | :--- | :--- | :--- | :--- | | Deng Jieru | Domestic Individual | 19.33% | 47,320,960 | 35,490,720 | 11,830,240 | | Chen Fashu | Domestic Individual | 8.96% | 21,922,837 | 0 | 21,922,837 | | Chongqing Yida Enterprise Management Partnership (LP) | Domestic Non-state-owned Legal Entity | 2.39% | 5,846,295 | 0 | 5,846,295 | | Ni Fuchu | Domestic Individual | 2.12% | 5,184,440 | 0 | 5,184,440 | | Wuhan Integrated Circuit Industry Technology Research Institute Co, Ltd | Domestic Non-state-owned Legal Entity | 2.05% | 5,019,018 | 0 | 5,019,018 | | Deng Hongzhong | Domestic Individual | 1.44% | 3,519,089 | 0 | 3,519,089 | | China Construction Bank - Guotai CSI Military Industry ETF | Other | 0.82% | 2,006,403 | 0 | 2,006,403 | | Shenzhen Rongze Investment Co, Ltd | Domestic Non-state-owned Legal Entity | 0.78% | 1,899,728 | 0 | 1,899,728 | | AVIC Industry-Finance Holdings Co, Ltd | State-owned Legal Entity | 0.71% | 1,738,800 | 0 | 1,738,800 | | China Merchants Bank - Southern CSI 1000 ETF | Other | 0.65% | 1,584,532 | 0 | 1,584,532 | - Deng Jieru and Deng Hongzhong are parties acting in concert; Deng Jieru holds **94.22%** of the shares in Wuhan Integrated Circuit Industry Technology Research Institute Co, Ltd[123](index=123&type=chunk) [Changes in Shareholdings of Directors, Supervisors, and Senior Management](index=35&type=section&id=IV.%20Changes%20in%20Shareholdings%20of%20Directors%2C%20Supervisors%2C%20and%20Senior%20Management) There were no changes in the shareholdings of the company's 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[125](index=125&type=chunk) [Changes in Controlling Shareholder or Actual Controller](index=35&type=section&id=V.%20Changes%20in%20Controlling%20Shareholder%20or%20Actual%20Controller) There were no changes in the company's controlling shareholder or actual controller during the reporting period - There were no changes in the company's controlling shareholder or actual controller during the reporting period[126](index=126&type=chunk) [Information on Preferred Shares](index=35&type=section&id=VI.%20Information%20on%20Preferred%20Shares) The company had no preferred shares during the reporting period - The company had no preferred shares during the reporting period[127](index=127&type=chunk) [Bond-related Matters](index=36&type=section&id=Section%207%20Bond-related%20Matters) [Bond-related Matters](index=36&type=section&id=Bond-related%20Matters) The company had no bond-related matters during the reporting period - The company had no bond-related matters during the reporting period[129](index=129&type=chunk) [Financial Report](index=37&type=section&id=Section%208%20Financial%20Report) [Audit Report](index=37&type=section&id=I.%20Audit%20Report) The company's semi-annual financial report has not been audited - The company's semi-annual financial report has not been audited[131](index=131&type=chunk) [Financial Statements](index=37&type=section&id=II.%20Financial%20Statements) This section presents the consolidated and parent company financial statements for H1 2025, including the balance sheet, income statement, cash flow statement, and statement of changes in equity [Consolidated Balance Sheet](index=37&type=section&id=1.%20Consolidated%20Balance%20Sheet) As of June 30, 2025, the company's consolidated total assets were 4.00 billion Yuan, an increase of 9.31% from the beginning of the year - As of June 30, 2025, the company's consolidated total assets were **4,002,653,862.92 Yuan**, an increase of **9.31%** from the beginning of the year[134](index=134&type=chunk) - Current assets included **952 million Yuan** in cash and cash equivalents, **901 million Yuan** in trading financial assets, and **1.24 billion Yuan** in inventory[133](index=133&type=chunk) - Current liabilities included **574 million Yuan** in contract liabilities and **221 million Yuan** in accounts payable[134](index=134&type=chunk) [Parent Company Balance Sheet](index=39&type=section&id=2.%20Parent%20Company%20Balance%20Sheet) As of June 30, 2025, the parent company's total assets were 4.03 billion Yuan, an increase of 9.15% from the beginning of the year - As of June 30, 2025, the parent company's total assets were **4,033,222,569.11 Yuan**, an increase of **9.15%** from the beginning of the year[138](index=138&type=chunk) - The parent company's current assets included **952 million Yuan** in cash and cash equivalents, **901 million Yuan** in trading financial assets, and **1.25 billion Yuan** in inventory[137](index=137&type=chunk)[138](index=138&type=chunk) [Consolidated Income Statement](index=41&type=section&id=3.%20Consolidated%20Income%20Statement) For H1 2025, the company's consolidated total operating revenue was 462 million Yuan, a year-on-year decrease of 34.05%, resulting in a net profit of 116 million Yuan - For H1 2025, consolidated total operating revenue was **462,251,132.08 Yuan**, a year-on-year decrease of **34.05%**[141](index=141&type=chunk)[142](index=142&type=chunk) - Consolidated net profit was **116,235,182.78 Yuan**, a year-on-year decrease of **44.22%**[143](index=143&type=chunk) - Basic earnings per share was **0.48 Yuan**, and diluted earnings per share was **0.47 Yuan**[143](index=143&type=chunk) [Parent Company Income Statement](index=43&type=section&id=4.%20Parent%20Company%20Income%20Statement) For H1 2025, the parent company's operating revenue was 462 million Yuan, and its net profit was 113 million Yuan, a year-on-year decrease of 46.75% - For H1 2025, the parent company's operating revenue was **462,251,132.08 Yuan**[145](index=145&type=chunk) - The parent company's net profit was **113,225,259.35 Yuan**, a year-on-year decrease of **46.75%**[146](index=146&type=chunk) [Consolidated Cash Flow Statement](index=45&type=section&id=5.%20Consolidated%20Cash%20Flow%20Statement) For H1 2025, net cash flow from operating activities was 213 million Yuan, a significant year-on-year increase of 256.28% - Net cash flow from operating activities was **213,214,556.51 Yuan**, a substantial year-on-year increase of **256.28%**[148](index=148&type=chunk) - Net cash flow from investing activities was **-179,149,451.52 Yuan**, primarily because cash management investments exceeded matured returns[149](index=149&type=chunk) - Net cash flow from financing activities was **-50,573,420.29 Yuan**, mainly due to reduced share repurchase expenses compared to the prior period[149](index=149&type=chunk) [Parent Company Cash Flow Statement](index=46&type=section&id=6.%20Parent%20Company%20Cash%20Flow%20Statement) For H1 2025, the parent company's net cash flow from operating activities was 213 million Yuan, while net cash flow from investing and financing activities were negative - The parent company's net cash flow from operating activities was **213,097,656.04 Yuan**[150](index=150&type=chunk) - The parent company's net cash flow from investing activities was **-179,149,451.52 Yuan**[151](index=151&type=chunk) [Consolidated Statement of Changes in Equity](index=47&type=section&id=7.%20Consolidated%20Statement%20of%20Changes%20in%20Equity) In H1 2025, the company's consolidated total equity was 3.08 billion Yuan, an increase of 3.45% from the beginning of the year - At the end of the period, total equity attributable to parent company shareholders was **3,075,288,456.83 Yuan**[154](index=154&type=chunk) - Total comprehensive income for the period was **116,235,182.78 Yuan**[153](index=153&type=chunk) [Parent Company Statement of Changes in Equity](index=51&type=section&id=8.%20Parent%20Company%20Statement%20of%20Changes%20in%20Equity) In H1 2025, the parent company's total equity was 3.11 billion Yuan, an increase of 3.31% from the beginning of the year - At the end of the period, the parent company's total equity was **3,107,473,828.00 Yuan**[161](index=161&type=chunk) - Total comprehensive income for the period was **113,225,259.35 Yuan**[162](index=162&type=chunk) [Company Basic Information](index=55&type=section&id=III.%20Company%20Basic%20Information) Chengdu RML Technology Co, Ltd, formerly a limited liability company, was restructured into a joint-stock company in 2019 and listed on the Shenzhen Stock Exchange in 2021 - The company was formerly Chengdu RML Technology Co, Ltd and was restructured into a joint-stock company in 2019[165](index=165&type=chunk) - The company has a registered capital of **244.79 million Yuan** and a total of 244,791,768 shares, and was listed on the Shenzhen Stock Exchange on August 24, 2021[165](index=165&type=chunk) - The company's main business is the R&D, manufacturing, testing, and sales of millimeter-wave microsystems, classified under the computer, communication, and other electronic equipment manufacturing industry[166](index=166&type=chunk) [Basis of Preparation of Financial Statements](index=55&type=section&id=IV.%20Basis%20of%20Preparation%20of%20Financial%20Statements) The company's financial statements are prepared on a going concern basis, with no significant doubts about its ability to continue operating for the next 12 months - The company's financial statements are prepared on a **going concern basis**[168](index=168&type=chunk) - There are no events or conditions that cast significant doubt on the company's ability to continue as a going concern[169](index=169&type=chunk) [Significant Accounting Policies and Estimates](index=55&type=section&id=V.%20Significant%20Accounting%20Policies%20and%20Estimates) This section details the company's significant accounting policies and estimates, covering areas such as financial instruments, inventory, revenue recognition, and share-based payments - The company's financial statements comply with corporate accounting standards, providing a true and fair view of its financial position, operating results, and cash flows[171](index=171&type=chunk) - The company uses a 12-month period to classify assets and liabilities as current or non-current and uses the Renminbi (RMB) as its functional currency[173](index=173&type=chunk)[174](index=174&type=chunk) - The company classifies, recognizes, measures, and derecognizes financial instruments, and provides for impairment based on **expected credit losses**[179](index=179&type=chunk)[194](index=194&type=chunk) - Inventory is measured at the **lower of cost and net realizable value**, with provisions for write-downs made on a portfolio basis[209](index=209&type=chunk) - Intangible assets are amortized systematically over their useful lives, and R&D expenditures are capitalized as intangible assets when specific criteria are met[232](index=232&type=chunk)[243](index=243&type=chunk) - Revenue is recognized when control of goods or services is transferred to the customer, measured at the transaction price allocated to each performance obligation[263](index=263&type=chunk)[264](index=264&type=chunk) - Government grants are classified as asset-related or income-related, with asset-related grants recognized as deferred income and income-related grants recognized in profit or loss[269](index=269&type=chunk)[270](index=270&type=chunk) - The company has implemented equity-settled share-based payment plans, recognizing the cost of services received over the vesting period with a corresponding increase in capital reserve[258](index=258&type=chunk) [Taxes](index=75&type=section&id=VI.%20Taxes) The company is subject to various taxes, including VAT and corporate income tax, and benefits from a preferential 15% income tax rate as a high-tech enterprise Main Taxes and Tax Rates | Tax Type | Tax Basis | Tax Rate | | :--- | :--- | :--- | | Value-Added Tax (VAT) | Sales of goods and taxable services income | 13%, 9%, 6%, 0% | | Urban Maintenance and Construction Tax | Actual turnover tax paid | 7% | | Corporate Income Tax | Taxable income | 25%, 15% | | Property Tax | Original value of property or rental income | 12%, 1.2% | | Land Use Tax | Actual land area occupied | 8 Yuan, 4 Yuan/sq.m. | | Education Surcharge | Actual turnover tax paid | 3% | | Local Education Surcharge | Actual turnover tax paid | 2% | - The company benefits from a preferential **15% corporate income tax rate** as a high-tech enterprise[291](index=291&type=chunk) - The company is exempt from VAT for technology transfer, development, and related technical consulting and services[290](index=290&type=chunk) [Notes to Items in the Consolidated Financial Statements](index=76&type=section&id=VII.%20Notes%20to%20Items%20in%20the%20Consolidated%20Financial%20Statements) This section provides detailed disclosures on items in the consolidated financial statements, highlighting significant increases in accounts receivable and contract liabilities - At the period end, cash and cash equivalents totaled **952 million Yuan**, of which 13.97 million Yuan was restricted[294](index=294&type=chunk) - At the period end, trading financial assets totaled **901 million Yuan**, primarily consisting of structured deposits, large-denomination certificates of deposit, and wealth management products[296](index=296&type=chunk)[297](index=297&type=chunk) - The carrying value of accounts receivable at period-end was **555 million Yuan**, a significant increase from the beginning of the year due to revenue recognized from accepted orders not yet due for settlement[305](index=305&type=chunk) - The carrying value of inventory at period-end was **1.24 billion Yuan**, with a provision for write-down of 27.58 million Yuan, an increase of 11.09 million Yuan during the period[325](index=325&type=chunk)[327](index=327&type=chunk) - Contract liabilities at period-end were **574 million Yuan**, a significant increase from the beginning of the year due to higher advance payments received from contracts[380](index=380&type=chunk) - Operating revenue for the period was **462 million Yuan** and operating cost was **236 million Yuan**, with array antennas being the main product[406](index=406&type=chunk)[407](index=407&type=chunk) - R&D expenses for the period were **44.00 million Yuan**, primarily consisting of employee compensation, share-based payments, and material costs[413](index=413&type=chunk) - Credit impairment losses for the period were **-23.47 million Yuan**, mainly from bad debt losses on notes and accounts receivable[423](index=423&type=chunk) [Research and Development Expenditures](index=102&type=section&id=VIII.%20Research%20and%20Development%20Expenditures) In H1 2025, the company's total R&D expenditure was 44.00 million Yuan, all of which was expensed, with employee compensation and share-based payments being the largest components R&D Expenditure Composition | Item | Current Period Amount (Yuan) | Prior Period Amount (Yuan) | | :--- | :--- | :--- | | Employee Compensation | 19,272,772.79 | 14,779,517.20 | | Share-based Payments | 11,203,475.53 | 16,992,457.23 | | Material Costs | 4,536,221.97 | 3,144,563.99 | | Design Fees | 4,400,471.69 | 5,359,769.10 | | Depreciation | 1,892,144.75 | 916,982.32 | | Outsourcing Fees | 1,543,362.83 | 617,699.11 | | Other | 1,150,276.79 | 107,149.63 | | Total | 43,998,726.35 | 41,918,138.58 | - All R&D expenditures for the period were expensed, with no capitalized R&D expenditures[460](index=460&type=chunk) [Interests in Other Entities](index=102&type=section&id=IX.%20Interests%20in%20Other%20Entities) The company has two wholly-owned subsidiaries: Chengdu RML Micro-crystal Technology Co, Ltd and Sichuan Yisu Technology Development Co, Ltd Corporate Group Structure | Subsidiary Name | Registered Capital (Yuan) | Main Place of Business | Business Nature | Shareholding Ratio | Acquisition Method | | :--- | :--- | :--- | :--- | :--- | :--- | | Chengdu RML Micro-crystal Technology Co, Ltd | 55,000,000.00 | Shuangliu District, Chengdu | Computer, communication and other electronic equipment manufacturing | 100.00% | Establishment | | Sichuan Yisu Technology Development Co, Ltd | 50,000,000.00 | High-tech Zone, Chengdu | Technical services, development, consulting, exchange, transfer, and promotion | 100.00% | Establishment | [Government Grants](index=103&type=section&id=X.%20Government%20Grants) At the end of the reporting period, the company had recognized government grant liabilities of 13.96 million Yuan as deferred income, related to unaccepted asset projects Liabilities Related to Government Grants | Account | Opening Balance (Yuan) | Closing Balance (Yuan) | Asset/Income Related | | :--- | :--- | :--- | :--- | | Deferred Income | 13,960,000.00 | 13,960,000.00 | Asset-related | - The government grants in deferred income are pending project acceptance[395](index=395&type=chunk) Government Grants Recognized in Current Profit or Loss | Account | Current Period Amount (Yuan) | Prior Period Amount (Yuan) | | :--- | :--- | :--- | | Government grants recognized in other income | 2,297,400.00 | 31,840,899.21 | | Impact of fiscal interest subsidies on total profit | 414,100.00 | 535,600.00 | | Total | 2,711,500.00 | 32,376,499.21 | [Risks Related to Financial Instruments](index=103&type=section&id=XI.%20Risks%20Related%20to%20Financial%20Instruments) The company is exposed to credit risk, liquidity risk, and market risk, which it manages through credit assessments, prudent fund placement, and diverse financing strategies - The company faces **credit risk, liquidity risk, and market risk** (interest rate and foreign exchange risk)[468](index=468&type=chunk) - Credit risk management involves assessing significant increases in credit risk for financial instruments and defining default and credit-impaired assets[470](index=470&type=chunk)[471](index=471&type=chunk)[472](index=472&type=chunk) - The company has a certain concentration of credit risk, with **98.67%** of its accounts receivable from the top five customers[478](index=478&type=chunk) - Liquidity risk is managed through a combination of financing instruments, including notes settlement and bank loans[480](index=480&type=chunk) - The company's main activities are denominated in RMB, and its exposure to foreign exchange market risk is not significant[484](index=484&type=chunk) [Fair Value Disclosure](index=106&type=section&id=XII.%20Fair%20Value%20Disclosure) The company's assets measured at fair value are primarily trading financial assets totaling 901 million Yuan, with valuations based on Level 2 and Level 3 inputs Fair Value of Assets and Liabilities at Period End | Item | Level 2 Fair Value Measurement (Yuan) | Level 3 Fair Value Measurement (Yuan) | Total (Yuan) | | :--- | :--- | :--- | :--- | | Trading Financial Assets | 120,853,315.10 | 780,408,109.54 | 901,261,424.64 | | Of which: Structured Deposits | | 546,963,958.33 | 546,963,958.33 | | Wealth Management Products | 120,853,315.10 | | 120,853,315.10 | | Large-denomination Certificates of Deposit | | 233,444,151.21 | 233,444,151.21 | - The fair value of wealth management products is based on the net asset value provided by the asset manager (Level 2)[487](index=487&type=chunk) - The fair value of structured deposits and large-denomination certificates of deposit is based on cost plus expected returns (Level 3)[488](index=488&type=chunk) - The carrying amounts of financial assets and liabilities not measured at fair value approximate their fair values[490](index=490&type=chunk) [Related Parties and Related-party Transactions](index=107&type=section&id=XIII.%20Related%20Parties%20and%20Related-party%20Transactions) The company's ultimate controlling party is Deng Jieru, and key management personnel compensation for the period was 2.53 million Yuan - The company's ultimate controlling party is **Deng Jieru**, who holds a direct stake of **19.33%** and an indirect stake of **1.93%** through Wuhan Integrated Circuit Industry Technology Research Institute Co, Ltd[491](index=491&type=chunk) Key Management Personnel Compensation | Item | Current Period Amount (Yuan) | Prior Period Amount (Yuan) | | :--- | :--- | :--- | | Key Management Personnel Compensation | 2,527,859.94 | 2,122,678.69 | [Share-based Payments](index=108&type=section&id=XIV.%20Share-based%20Payments) The company implemented restricted stock incentive plans in 2022 and 2023, recognizing 32.40 million Yuan in equity-settled share-based payment expenses during the period - The company implemented the **2022 and 2023 restricted stock incentive plans** and granted reserved restricted stocks in 2023 and 2024[494](index=494&type=chunk)[498](index=498&type=chunk)[499](index=499&type=chunk)[501](index=501&type=chunk) - The grant prices and quantities of the incentive plans were adjusted due to the company's equity distributions[495](index=495&type=chunk)[498](index=498&type=chunk)[500](index=500&type=chunk)[501](index=501&type=chunk) - The total expense recognized for equity-settled share-based payments in the current period was **32,396,164.78 Yuan**, which was credited to capital reserve[504](index=504&type=chunk)[506](index=506&type=chunk) Composition of Equity-settled Share-based Payment Expenses | Recipient Category | Equity-settled Share-based Payment Expense (Yuan) | | :--- | :--- | | Management Personnel | 9,580,129.46 | | Production Personnel | 8,926,891.42 | | R&D Personnel | 11,203,475.53 | | Sales Personnel | 2,685,668.37 | | Total | 32,396,164.78 | [Commitments and Contingencies](index=111&type=section&id=XV.%20Commitments%20and%20Contingencies) The company had no significant commitments or contingencies to disclose for the reporting period - The company has no significant commitments to disclose[507](index=507&type=chunk) - The company has no significant contingencies to disclose[508](index=508&type=chunk) [Events after the Balance Sheet Date](index=111&type=section&id=XVI.%20Events%20after%20the%20Balance%20Sheet%20Date) Subsequent to the balance sheet date, the company proposed a cash dividend of 1.42 Yuan per 10 shares, totaling 34.70 million Yuan - The company plans to distribute a **cash dividend of 1.42 Yuan (tax included) per 10 shares** based on the total share capital of 244,343,720 shares as of June 30, 2025[509](index=509&type=chunk)[510](index=510&type=chunk) - The total cash dividend to be distributed is **34,696,808.24 Yuan**[510](index=510&type=chunk) [Other Significant Matters](index=112&type=section&id=XVII.%20Other%20Significant%20Matters) The company's primary business of producing and selling array antennas and TR modules is managed as a single segment, thus no segment information is disclosed - The company's main business involves the production and sale of array antennas and TR modules, and as such, no segment information is required to be disclosed[511](index=511&type=chunk) [Notes to Key Items in the Parent Company's Financial Statements](index=112&type=section&id=XVIII.%20Notes%20to%20Key%20Items%20in%20the%20Parent%20Company's%20Financial%20Statements) This section details key items in the parent company's financial statements, noting a significant increase in accounts receivable and growth in long-term equity investments - The parent company's accounts receivable balance at period-end was **664 million Yuan**, a substantial increase from the beginning of the year[513](index=513&type=chunk) - The parent company's other receivables at period-end were **77.19 million Yuan**, primarily consisting of intercompany balances within the consolidated group[523](index=523&type=chunk)[525](index=525&type=chunk) - The parent company's long-term equity investments at period-end were **45.59 million Yuan**, showing an increase from the beginning of the year[539](index=539&type=chunk) - The parent company's operating revenue for the period was **462 million Yuan** and operating cost was **242 million Yuan**, with array antennas being the main product[543](index=543&type=chunk)[544](index=544&type=chunk) - The parent company's investment income for the period was **27.69 million Yuan**, primarily from the disposal of trading financial assets[546](index=546&type=chunk) [Supplementary Information](index=118&type=section&id=XIX.%20Supplementary%20Information) [Detailed Statement of Non-recurring Profit and Loss for the Current Period](index=118&type=section&id=1.%20Detailed%20Statement%20of%20Non-recurring%20Profit%20and%20Loss%20for%20the%20Current%20Period) Non-recurring profit and loss for the reporting period totaled 10.83 million Yuan, mainly comprising government grants and gains from financial assets Details of Non-recurring Profit and Loss for H1 2025 | Item | Amount (Yuan) | | :--- | :--- | | Gains and losses on disposal of non-current assets | -72,883.49 | | Government grants recognized in current profit or loss | 2,711,500.00 | | Gains and losses from changes in fair value of financial assets and liabilities held by non-financial enterprises, and gains and losses from their disposal | 9,764,694.67 | | Gains and losses from entrusting others to invest or manage assets | 274,437.42 | | Other non-operating income and expenses | 67,242.26 | | Less: Income tax impact | 1,912,969.61 | | Total | 10,832,021.25 | - The company has no other profit or loss items that meet the definition of non-recurring, nor has it reclassified any non-recurring items as recurring[548](index=548&type=chunk)[549](index=549&type=chunk) [Return on Net Assets and Earnings per Share](index=118&type=section&id=2.%20Return%20on%20Net%20Assets%20and%20Earnings%20per%20Share) For H1 2025, the company's weighted average return on net assets was 3.79%, with basic earnings per share at 0.48 Yuan Return on Net Assets and Earnings per Share for H1 2025 | Profit for the Reporting Period | Weighted Average Return on Net Assets | Basic Earnings per Share (Yuan/share) | Diluted Earnings per Share (Yuan/share) | | :--- | :--- | :--- | :--- | | Net profit attributable to common shareholders | 3.79% | 0.48 | 0.47 | | Net profit attributable to common shareholders after deducting non-recurring gains and losses | 3.44% | 0.43 | 0.42 |

苏州市世嘉科技股份有限公司 2025 年半年度报告全文 第一节 重要提示、目录和释义 公司董事会、监事会及董事、监事、高级管理人员保证半年度报告内容的 真实、准确、完整，不存在虚假记载、误导性陈述或者重大遗漏，并承担个别 和连带的法律责任。 公司负责人王娟、主管会计工作负责人周燕飞及会计机构负责人（会计主 管人员）苏晶晶声明：保证本半年度报告中财务报告的真实、准确、完整。 苏州市世嘉科技股份有限公司 2025 年半年度报告 2025-041 2025 年 8 月 22 日 苏州市世嘉科技股份有限公司 2025 年半年度报告全文 所有董事均已出席了审议本次半年报的董事会会议。 本报告书所涉及公司未来计划等前瞻性陈述，不构成公司对投资者及相关 人士的实质承诺，投资者及相关人士均应对此保持足够的风险认识，并且应当 理解计划、预测与承诺之间的差异。 公司在本报告书"第三节 管理层讨论与分析"之"十、公司面临的风险 和应对措施"部分，详细描述了公司经营中可能存在的风险及应对措施，敬请 投资者及相关人士关注相关内容。 公司计划不派发现金红利，不送红股，不以公积金转增股本。 1 | 第一节 | 重要提示、目录和释义 1 | ...

光正眼科医院集团股份有限公司 2025 年半年度报告 公告编号：2025-054 2025 年 8 月 1 第一节 重要提示、目录和释义 公司董事会、监事会及董事、监事、高级管理人员保证半年度报告内容 的真实、准确、完整，不存在虚假记载、误导性陈述或者重大遗漏，并承担 个别和连带的法律责任。 公司负责人周永麟、主管会计工作负责人李俊英及会计机构负责人(会计 主管人员)王琦声明：保证本半年度报告中财务报告的真实、准确、完整。 所有董事均已出席了审议本次半年报的董事会会议。 公司在本报告"第三节管理层讨论与分析"中分析了公司未来发展可能 面临的风险因素和应对措施，敬请广大投资者予以关注。 公司计划不派发现金红利，不送红股，不以公积金转增股本。 2 | 第一节 | 重要提示、目录和释义 | 2 | | --- | --- | --- | | 第二节 | 公司简介和主要财务指标 6 | | | 第三节 | 管理层讨论与分析 9 | | | 第四节 | 公司治理、环境和社会 | 20 | | 第五节 | 重要事项 | 24 | | 第六节 | 股份变动及股东情况 | 40 | | 第七节 | 债券相关情况 46 | | ...