公司代码：600535 公司简称：天士力 天士力医药集团股份有限公司 2025 年半年度报告 1 / 160 天士力医药集团股份有限公司2025 年半年度报告 天士力医药集团股份有限公司2025 年半年度报告 重要提示 一、本公司董事会、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性、准确性、 完整性，不存在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 二、未出席董事情况 | 未出席董事职务 | 未出席董事姓名 | 未出席董事的原因说明 | 被委托人姓名 | | --- | --- | --- | --- | | 董事 | 原京 | 工作原因 | 席凯 | 三、本半年度报告未经审计。 四、公司负责人蔡金勇、主管会计工作负责人魏洁及会计机构负责人（会计主管人员）林勇志 声明：保证半年度报告中财务报告的真实、准确、完整。 五、董事会决议通过的本报告期利润分配预案或公积金转增股本预案 截 至 2025年 6 月30 日 ，天 士 力 医 药 集 团 股 份 有限 公 司 期 末 可 供 分 配 利 润 为 人民 币 7,152,640,177.94元。公司2025年半年度拟以实施权益分派 ...

公司代码：688371 公司简称：菲沃泰 江苏菲沃泰纳米科技股份有限公司 2025 年半年度报告 重要提示 一、 本公司董事会及董事、高级管理人员保证半年度报告内容的真实性、准确性、完整性，不 存在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 二、 重大风险提示 报告期内，不存在对公司生产经营产生实质性影响的特别重大风险。公司在经营过程中可能 面临的各种风险，敬请查阅本报告"第三节 管理层讨论与分析"之"四、风险因素"部分，敬请 投资者注意投资风险。 三、 公司全体董事出席董事会会议。 四、 本半年度报告未经审计。 五、 公司负责人宗坚、主管会计工作负责人宗坚及会计机构负责人（会计主管人员）李万峰声 明：保证半年度报告中财务报告的真实、准确、完整。 六、 董事会决议通过的本报告期利润分配预案或公积金转增股本预案 无 七、 是否存在公司治理特殊安排等重要事项 □适用 √不适用 八、 前瞻性陈述的风险声明 √适用 □不适用 本报告所涉及的公司未来计划、经营计划、发展战略等前瞻性陈述，不构成公司对投资者的 实质承诺，请投资者注意投资风险。 九、 是否存在被控股股东及其他关联方非经营性占用资金情况 否 ...

2025 年半年度报告 1 / 238 桃李面包股份有限公司2025 年半年度报告 重要提示 一、 本公司董事会、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性、准确 性、完整性，不存在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 桃李面包股份有限公司2025 年半年度报告 公司代码：603866 公司简称：桃李面包 桃李面包股份有限公司 二、 公司全体董事出席董事会会议。 三、 本半年度报告未经审计。 四、 公司负责人吴学亮、主管会计工作负责人孙颖及会计机构负责人（会计主管人员）孙颖声 明：保证半年度报告中财务报告的真实、准确、完整。 五、 董事会决议通过的本报告期利润分配预案或公积金转增股本预案 无 六、 前瞻性陈述的风险声明 √适用 □不适用 本公司 2025 年半年度报告涉及的公司未来计划、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。 七、 是否存在被控股股东及其他关联方非经营性占用资金情况 否 八、 是否存在违反规定决策程序对外提供担保的情况 公司已在本报告中详细描述可能存在的相关风险，敬请查阅第三节管理层讨论与分析中可能 面对的风险部分。 ...

中电科数字技术股份有限公司2025 年半年度报告 公司代码：600850 公司简称：电科数字 中电科数字技术股份有限公司 2025 年半年度报告 1 / 181 根据公司2025年半年度财务报告相关数据（未经审计），截至2025年6月30日，公司可供股东 分配利润为280,798,854.96元。公司2025年半年度拟以实施权益分派股权登记日登记的总股本为基 数分配利润。本次利润分配方案如下： 公司拟向全体股东按每10股派发现金红利0.6元（含税）。截至2025年6月30日，公司总股本 为686,124,064股，以此计算合计拟派发现金红利41,167,443.84元（含税），占公司2025年半年度 归属于上市公司股东净利润的比例为38.25%。 在实施权益分派股权登记日期前，因股权激励行权、重大资产重组股份回购注销等致使公司 总股本发生变动的，公司拟维持每股分配比例不变，相应调整分红总额。 中电科数字技术股份有限公司2025 年半年度报告 重要提示 一、 本公司董事会、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性、准确 性、完整性，不存在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责 ...

[Definitions](index=4&type=section&id=Item%201.%20Definitions) This section provides definitions of key terms used throughout the report [Company Profile and Key Financial Indicators](index=5&type=section&id=Item%202.%20Company%20Profile%20and%20Key%20Financial%20Indicators) This section provides an overview of the company's basic information and presents its key financial performance metrics [Company Information](index=5&type=section&id=Company%20Information) This chapter provides basic information about Ecovacs Robotics Co., Ltd., including its Chinese and English names, legal representative, contact details, and registered and office addresses Company Information | Item | Information | | :--- | :--- | | **Chinese Name** | Ecovacs Robotics Co.,Ltd | | **Chinese Abbreviation** | Ecovacs | | **Foreign Name** | Ecovacs Robotics Co.,Ltd | | **Legal Representative** | Zhuang Jianhua | | **Registered Address** | No. 518 Songwei Road, Wusongjiang Industrial Park, Guoxiang Street, Wuzhong District, Suzhou City | | **Office Address** | No. 18 Youxiang Road, Wuzhong District, Suzhou City | [Key Accounting Data and Financial Indicators](index=6&type=section&id=Key%20Accounting%20Data%20and%20Financial%20Indicators) In the first half of 2025, the company achieved strong performance growth, with operating revenue increasing by 24.37% and net profit attributable to the parent company surging by 60.84% Key Accounting Data (January-June 2025) | Key Accounting Data | Current Period (RMB) | Prior Period (RMB) | YoY Change (%) | | :--- | :--- | :--- | :--- | | **Operating Revenue** | 8,676,366,781.22 | 6,976,054,419.34 | 24.37 | | **Total Profit** | 1,109,597,546.46 | 664,743,364.00 | 66.92 | | **Net Profit Attributable to Parent Company Shareholders** | 979,463,201.38 | 608,975,404.11 | 60.84 | | **Net Profit Attributable to Parent Company Shareholders After Non-Recurring Items** | 860,211,944.49 | 557,364,074.88 | 54.34 | | **Net Cash Flow from Operating Activities** | 1,455,578,985.63 | 247,675,913.00 | 487.70 | | **Total Assets (Period-end)** | 16,181,698,971.02 | 15,026,057,891.69 | 7.69 | Key Financial Indicators (January-June 2025) | Key Financial Indicators | Current Period | Prior Period | YoY Change (%) | | :--- | :--- | :--- | :--- | | **Basic Earnings Per Share (RMB/share)** | 1.73 | 1.07 | 61.68 | | **Diluted Earnings Per Share (RMB/share)** | 1.71 | 1.06 | 61.32 | | **Weighted Average Return on Net Assets (%)** | 12.81 | 8.92 | Increased by 3.89 percentage points | | **Weighted Average Return on Net Assets After Non-Recurring Items (%)** | 11.25 | 8.17 | Increased by 3.08 percentage points | - During the reporting period, the company's total profit, net profit attributable to the parent, and non-recurring net profit all achieved **over 50% year-over-year growth**, primarily due to revenue increase, improved gross margin, and increased fair value change gains[23](index=23&type=chunk) - Net cash flow from operating activities significantly increased by **487.70% year-over-year**, mainly due to a higher increase in cash received from sales of goods in the current period compared to the prior period[23](index=23&type=chunk) [Management Discussion and Analysis](index=9&type=section&id=Item%203.%20Management%20Discussion%20and%20Analysis) This section provides a comprehensive analysis of the company's operational performance, financial condition, and future outlook [Industry and Main Business Overview](index=9&type=section&id=Industry%20and%20Main%20Business%20Overview%20During%20the%20Reporting%20Period) The company's household service robot and floor washer industries maintained rapid growth in the first half of 2025, driven by technological iteration and policy support [Industry Development Status](index=9&type=section&id=Industry%20Development%20Status) In the first half of 2025, both the domestic robot vacuum and floor washer markets experienced significant growth, with high brand concentration - In the first half of 2025, the domestic robot vacuum market retail sales increased by **41.1%** to **9.8 billion RMB**, with retail volume growing by **40.7%** to **3.15 million units**; the floor washing robot sub-market's online sales surged by **1,593%**, reaching a market share of **24.4%**[32](index=32&type=chunk) - In the first half of 2025, the domestic floor washer market retail sales increased by **30.3%** to **8.0 billion RMB**, with retail volume growing by **37.2%** to **3.90 million units**; the top three brands accounted for **68.7%** of online retail sales[34](index=34&type=chunk)[35](index=35&type=chunk) [Main Business](index=10&type=section&id=Main%20Business) The company operates a dual-brand strategy with Ecovacs focusing on service robots and Tineco on high-end smart home appliances, alongside OEM business and next-generation embodied robot R&D - The company has successfully established a dual-wheel driven business model with **Ecovacs** service robots and **Tineco** smart home appliances[36](index=36&type=chunk) - The **Ecovacs** brand focuses on service robot solutions, with products covering robot vacuums, window cleaning robots, air purifiers, and robotic lawn mowers[37](index=37&type=chunk) - The **Tineco** brand is positioned for high-end smart home appliances, with its core product, the Floor One series floor washer, driving rapid brand growth and becoming a new growth engine for the company[38](index=38&type=chunk) [Discussion and Analysis of Operations](index=11&type=section&id=Discussion%20and%20Analysis%20of%20Operations) In the first half of 2025, the company achieved total revenue of 8.676 billion RMB and net profit attributable to the parent of 979 million RMB, driven by innovation, cost efficiency, channel integration, and global expansion Revenue by Brand in H1 2025 | Brand/Business | Sales Revenue (billion RMB) | Share of Total Revenue (%) | | :--- | :--- | :--- | | **Ecovacs Brand Service Robots** | 48.05 | 55.39 | | **Tineco Brand High-End Smart Home Appliances** | 36.61 | 42.19 | | **Total for Two Own Brands** | 84.66 | 97.58 | - Through technological innovation and product iteration, the Ecovacs brand holds **73.1%** of the domestic online retail sales share in the floor washing robot market; Ecovacs service robot global shipments increased by **55.5%** year-over-year, and Tineco floor washer global shipments increased by **17.5%** year-over-year[41](index=41&type=chunk) - The company achieved cost reduction and efficiency improvement through design optimization and supply chain upgrades, with the overall gross margin increasing by **2.0 percentage points** year-over-year, and the Ecovacs brand gross margin rapidly increasing by **5.3 percentage points** year-over-year[42](index=42&type=chunk) - The globalization strategy continues to advance, with overseas business revenue accounting for **40.8%** of total revenue; Ecovacs brand's Q2 overseas business grew by **66.6%** year-over-year, with the European market growing by **89.2%** and the US market by **86.5%**[45](index=45&type=chunk) [Analysis of Core Competencies](index=12&type=section&id=Analysis%20of%20Core%20Competencies%20During%20the%20Reporting%20Period) The company's core competencies include substantial R&D investment leading to technological accumulation, a comprehensive global presence, and strong independent manufacturing capabilities ensuring cost control and flexibility - The company places high importance on R&D, with R&D expenditure reaching **507 million RMB** during the reporting period, a **13.8%** year-over-year increase; as of the end of the period, the company had accumulated **2,545 authorized patents**, including **713 invention patents**[46](index=46&type=chunk)[49](index=49&type=chunk) - The company continues to strategically invest in cutting-edge technologies, having submitted **152 patent applications** in areas such as robot 3D spatial understanding, multi-modal large models, and embodied intelligence, including **100 invention patents**[49](index=49&type=chunk)[50](index=50&type=chunk) - The globalization strategy has yielded significant results, with Ecovacs and Tineco brand products receiving numerous awards in overseas markets, including the German `CONNECT` 'Excellent' rating and the US `Reviewed` 'CES Innovation Award', continuously enhancing brand influence[52](index=52&type=chunk)[53](index=53&type=chunk) - The company possesses an advantage in independent production, with products largely self-produced; the integrated R&D, production, and sales model facilitates rapid response to market changes, improving overall operational efficiency and cost control capabilities[54](index=54&type=chunk) [Analysis of Key Operating Conditions](index=14&type=section&id=Analysis%20of%20Key%20Operating%20Conditions%20During%20the%20Reporting%20Period) This chapter analyzes the company's financial performance, including revenue and cost changes, significant decline in financial expenses due to exchange gains, and the impact of non-operating income from accounting method changes [Analysis of Financial Statement Item Changes](index=14&type=section&id=Analysis%20Table%20of%20Financial%20Statement%20Related%20Item%20Changes) During the reporting period, operating revenue increased by 24.37%, sales expenses rose due to new product promotion, and financial expenses significantly decreased due to exchange gains, while operating cash flow surged by 487.70% Changes in Major Financial Statement Items | Item | Current Period (RMB) | Prior Period (RMB) | Change (%) | | :--- | :--- | :--- | :--- | | **Operating Revenue** | 8,676,366,781.22 | 6,976,054,419.34 | 24.37 | | **Operating Cost** | 4,363,329,366.33 | 3,647,147,926.20 | 19.64 | | **Selling Expenses** | 2,602,280,052.25 | 1,944,485,987.01 | 33.83 | | **Financial Expenses** | -163,763,684.08 | -20,998,129.20 | Not applicable | | **R&D Expenses** | 507,403,297.76 | 445,874,143.87 | 13.80 | | **Net Cash Flow from Operating Activities** | 1,455,578,985.63 | 247,675,913.00 | 487.70 | [Explanation of Significant Changes in Non-Operating Profit](index=15&type=section&id=Explanation%20of%20Significant%20Changes%20in%20Profit%20Due%20to%20Non-Operating%20Activities) A change in accounting method for the investment in Shanghai Xengong Intelligent Technology Co., Ltd., due to loss of significant influence, resulted in a 145 million RMB increase in net profit for the first half of 2025 - Due to no longer having significant influence over associate company Shanghai Xengong Intelligent Technology Co., Ltd., the company changed its accounting method for long-term equity investment, with this change and subsequent fair value adjustments collectively increasing net profit by **144.96 million RMB** for the first half of 2025[57](index=57&type=chunk) [Analysis of Assets and Liabilities](index=15&type=section&id=Analysis%20of%20Assets%20and%20Liabilities) At the end of the reporting period, total assets increased by 7.69%, with significant changes in financial assets held for trading, other non-current financial assets, notes payable, and contract liabilities Changes in Major Balance Sheet Items | Item Name | Current Period End (RMB) | Change from Prior Year End (%) | Primary Reason | | :--- | :--- | :--- | :--- | | **Financial Assets Held for Trading** | 170,000,000.00 | 211.41 | Increase in structured deposits held at period-end | | **Receivables Financing** | 40,228,017.60 | -76.21 | Decrease in bank acceptance bills held at period-end | | **Other Non-Current Financial Assets** | 551,463,435.79 | 50.81 | Equity in Xengong Technology transferred to this item for accounting | | **Notes Payable** | 819,286,119.72 | 37.34 | Increase in bank acceptance bills payable at period-end | | **Contract Liabilities** | 466,726,331.01 | 32.03 | Increase in advance receipts for goods | [Analysis of Investment Status](index=16&type=section&id=Analysis%20of%20Investment%20Status) The company's investment activities include capital contributions to a venture capital partnership and ongoing significant non-equity investment projects for manufacturing centers and lithium-ion battery production - The company plans to contribute **130 million RMB** to Suzhou Yinfeng Lanxiu Venture Capital Partnership (Limited Partnership), with **52 million RMB** already paid in during the reporting period[63](index=63&type=chunk) - The total investment for the 'Tineco Annual Production of **12 Million Units** High-End Smart Home Appliances Manufacturing Center Project' was adjusted from **1.0 billion RMB** to **1.4 billion RMB**, with completion extended to December 2025; cumulative investment reached **473 million RMB** as of the end of the reporting period[64](index=64&type=chunk)[65](index=65&type=chunk)[66](index=66&type=chunk) - The 'Annual Production of **2 GWH** Polymer Lithium-Ion Battery Project' has completed factory construction and partial equipment procurement, with a cumulative investment of **504 million RMB** and **1 GWH** production line already in operation[67](index=67&type=chunk)[68](index=68&type=chunk) [Potential Risks](index=23&type=section&id=Potential%20Risks) The company faces various risks including macroeconomic fluctuations, raw material price volatility, intensified market competition, exchange rate fluctuations, tax policy changes, intellectual property disputes, and international trade friction - The company has identified seven major risks: macroeconomic fluctuations, raw material price volatility, market competition, exchange rate fluctuations, changes in tax policies, intellectual property disputes, and international trade risks[75](index=75&type=chunk)[76](index=76&type=chunk)[77](index=77&type=chunk)[78](index=78&type=chunk)[79](index=79&type=chunk)[80](index=80&type=chunk)[82](index=82&type=chunk) [Corporate Governance, Environment, and Society](index=27&type=section&id=Item%204.%20Corporate%20Governance%2C%20Environment%2C%20and%20Society) This section details the company's governance structure changes, environmental compliance, and social responsibility initiatives [Corporate Governance](index=27&type=section&id=Corporate%20Governance) During the reporting period, the company underwent changes in its board of directors, elected new independent directors, abolished the supervisory board, and adjusted its equity incentive plan - The company elected Pu Jun, Wu Ying, and Huang Hui as independent directors for the fourth board of directors, while also abolishing the supervisory board, with its functions now exercised by the board's audit committee[92](index=92&type=chunk) - The company adjusted its 2024 equity incentive plan, repurchasing and canceling a portion of restricted shares, and granting reserved stock options and restricted shares to incentive recipients[94](index=94&type=chunk)[95](index=95&type=chunk) [Environment and Society](index=28&type=section&id=Environment%20and%20Society) The company's subsidiary, Taiding New Energy (Zhejiang) Co., Ltd., is listed as an environmental information disclosure enterprise, and the company actively engages in educational philanthropy through dedicated funds - Subsidiary Taiding New Energy (Zhejiang) Co., Ltd. has been included in the list of enterprises required to disclose environmental information for 2025[96](index=96&type=chunk) - Through the Ecovacs Scholarship Fund and Tineco Culture and Arts Fund, the company actively fulfills its social responsibilities by donating books to schools in impoverished areas and sponsoring art activities, contributing to rural revitalization[98](index=98&type=chunk) [Significant Matters](index=30&type=section&id=Item%205.%20Significant%20Matters) This section covers the fulfillment of commitments, significant related party transactions, major contracts, and the progress of raised funds utilization [Fulfillment of Commitments](index=30&type=section&id=Fulfillment%20of%20Commitments) During the reporting period, the company, its controlling shareholder, actual controller, and directors, supervisors, and senior management strictly fulfilled all commitments made during the initial public offering and subsequent financing activities - The company, its controlling shareholder, actual controller, and directors, supervisors, and senior management, as relevant parties to commitments, have strictly fulfilled all commitments made during or continuing into the reporting period[100](index=100&type=chunk) [Significant Related Party Transactions](index=40&type=section&id=Significant%20Related%20Party%20Transactions) The company engaged in a significant related party transaction by participating in the establishment of Suzhou Yinfeng Lanxiu Venture Capital Partnership (Limited Partnership), a 500 million RMB fund, with a planned contribution of 200 million RMB - The company participated in establishing an industrial fund focused on robotics and artificial intelligence, 'Suzhou Yinfeng Lanxiu Venture Capital Partnership (Limited Partnership)', which constitutes a related party transaction; as a limited partner, the company plans to contribute **200 million RMB** from its own funds, with **52 million RMB** already paid in during the reporting period[112](index=112&type=chunk)[113](index=113&type=chunk) [Significant Contracts and Their Performance](index=42&type=section&id=Significant%20Contracts%20and%20Their%20Performance) During the reporting period, the company provided guarantees totaling up to 69.8882 million RMB for its wholly-owned subsidiaries to support their financing and operational needs, with 25.7710 million RMB actually utilized Company Guarantees for Subsidiaries | Item | Amount (million RMB) | | :--- | :--- | | **Total Guarantees Provided to Subsidiaries During Reporting Period** | 25.7710 | | **Total Guarantee Balance for Subsidiaries at Period End (B)** | 25.7710 | | **Total Guarantees (A+B)** | 25.7710 | | **Percentage of Total Guarantees to Company's Net Assets (%)** | 0.32 | [Explanation of Progress in Use of Raised Funds](index=45&type=section&id=Explanation%20of%20Progress%20in%20Use%20of%20Raised%20Funds) The company issued convertible bonds in 2021, raising approximately 1.03 billion RMB, with 81.15% utilized as of the reporting period, and two projects extended to June 2026 Use of Convertible Bond Proceeds | Item | Amount (million RMB) | | :--- | :--- | | **Net Proceeds from Fundraising** | 102,964.02 | | **Total Committed Investment** | 102,964.02 | | **Cumulative Investment as of Period End** | 83,553.58 | | **Overall Investment Progress** | 81.15% | - The fundraising project 'Multi-Smart Scene Robot Technology Innovation Project' has been completed, with all raised funds fully invested[121](index=121&type=chunk)[122](index=122&type=chunk) - The completion date for the 'Tineco Smart Home Appliances International Operations Project' and 'Ecovacs Brand Service Robot Global Digital Platform Project' has been adjusted from December 2024 to June 2026[123](index=123&type=chunk) [Share Capital Changes and Shareholder Information](index=49&type=section&id=Item%206.%20Share%20Capital%20Changes%20and%20Shareholder%20Information) This section details changes in the company's share capital and provides an overview of its shareholder structure [Share Capital Changes](index=49&type=section&id=Share%20Capital%20Changes) During the reporting period, the company's total share capital slightly increased due to convertible bond conversions, and subsequently decreased after the period due to restricted share repurchases and cancellations - During the reporting period, the company's total share capital increased by **338 shares** due to convertible bond conversions, reaching **575,295,565 shares** at period-end[131](index=131&type=chunk)[132](index=132&type=chunk) [Shareholder Information](index=50&type=section&id=Shareholder%20Information) As of the end of the reporting period, the company had 34,220 common shareholders, with the top ten shareholders' structure remaining stable and Suzhou Chuangling Smart Investment Management Co., Ltd. holding 42.00% Top Ten Shareholders' Holdings as of Period End | Shareholder Name | Number of Shares Held at Period End (shares) | Percentage (%) | | :--- | :--- | :--- | | **Suzhou Chuangling Smart Investment Management Co., Ltd.** | 241,615,609 | 42.00 | | **EVER GROUP CORPORATION LIMITED** | 70,480,000 | 12.25 | | **Suzhou Chuangxiu Investment Center (Limited Partnership)** | 59,645,808 | 10.37 | | **SKY SURE LIMITED** | 12,600,000 | 2.19 | | **Suchuang Smart (Shanghai) Enterprise Management Partnership** | 10,173,310 | 1.77 | | **Hong Kong Securities Clearing Company Limited** | 9,473,950 | 1.65 | [Bond-Related Information](index=54&type=section&id=Item%207.%20Bond-Related%20Information) This section provides details on the company's convertible corporate bonds, including issuance, conversion status, and credit ratings [Convertible Corporate Bonds](index=54&type=section&id=Convertible%20Corporate%20Bonds) The company issued 1.04 billion RMB in convertible bonds in November 2021, with a minimal conversion rate during the reporting period, and maintains a stable AA credit rating Basic Information on Ecovacs Convertible Bonds | Item | Details | | :--- | :--- | | **Bond Abbreviation** | Ecovacs Convertible Bonds | | **Bond Code** | 113633 | | **Total Issue Amount** | 1.04 billion RMB | | **Unconverted Amount (RMB)** | 1,039,574,000 | | **Unconverted Percentage (%)** | 99.9590 | | **Latest Conversion Price (RMB/share)** | 174.72 | - The company's corporate credit rating is 'AA' with a 'stable' outlook, and the 'Ecovacs Convertible Bonds' credit rating is 'AA', with no change in rating results[157](index=157&type=chunk) [Financial Report](index=58&type=section&id=Item%208.%20Financial%20Report) This section presents the company's unaudited financial statements for the first half of 2025, along with detailed notes on accounting policies and key financial items [Financial Statements](index=58&type=section&id=Financial%20Statements) This chapter includes the company's unaudited consolidated and parent company financial statements for the first half of 2025, comprising the balance sheet, income statement, cash flow statement, and statement of changes in equity - The financial statements in this semi-annual report are **unaudited**[5](index=5&type=chunk) - Consolidated and parent company balance sheets, income statements, cash flow statements, and statements of changes in equity are provided[160](index=160&type=chunk)[163](index=163&type=chunk)[166](index=166&type=chunk)[173](index=173&type=chunk)[179](index=179&type=chunk) [Notes to the Financial Statements](index=82&type=section&id=Notes%20to%20the%20Financial%20Statements) This chapter details the company's basic information, financial statement preparation basis, significant accounting policies and estimates, and provides notes on major consolidated financial statement items - The company's main business involves the R&D, design, production, and sales of various household service robots, high-end smart home appliances, and related components[196](index=196&type=chunk) - In accordance with 'Interpretation No. 18 of Accounting Standards for Business Enterprises' issued by the Ministry of Finance, the company retrospectively adjusted the accounting treatment for guarantee-type quality assurance, reclassifying related expenses from 'selling expenses' to 'operating costs'[337](index=337&type=chunk)[338](index=338&type=chunk) - The company and several subsidiaries are recognized as high-tech enterprises, enjoying a preferential corporate income tax rate of **15%**[343](index=343&type=chunk)

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