力合科创(002243) - 2025 Q2 - 季度财报

Section One Important Notes, Table of Contents, and Definitions This section provides essential disclaimers, the report's structure, a list of reference documents, and definitions of key terms Important Notes The Board, Supervisory Board, and senior management guarantee the report's accuracy, with the CEO and CFO affirming financial statement integrity, and no cash dividends or share transfers planned - The company's Board of Directors, Supervisory Board, and senior management guarantee the truthfulness, accuracy, and completeness of the semi-annual report, assuming individual and joint legal responsibility[4] - Company head He Zhen, chief accountant Xu Anbi, accounting supervisor Ren Wei, and head of accounting department Luo Hongjian declare that the financial report in this semi-annual report is true, accurate, and complete[4] - The company plans not to distribute cash dividends, bonus shares, or convert capital reserves into share capital[4] Table of Contents This chapter outlines the report's overall structure, including nine main sections and their corresponding page numbers, providing quick navigation for investors Directory of Reference Documents This section lists reference documents available for inspection, including signed financial statements and original public disclosures, located at the company's Board of Directors office - Reference documents include financial statements signed and sealed by the company's head, chief accountant, accounting supervisor, and head of accounting department[8] - Reference documents also include originals of all company documents and announcements publicly disclosed during the reporting period[9] - The aforementioned reference documents are available at the company's Board of Directors office[10] Definitions This chapter defines common terms used in the report, covering company names, related parties, regulatory bodies, laws, and business models for clear understanding - "Company/This Company/Leaguer Sci & Tech" refers to Shenzhen Leaguer Sci & Tech Co, Ltd[12] - "Shenzhen SASAC" refers to Shenzhen Municipal People's Government State-owned Assets Supervision and Administration Commission, the actual controller of the company[12] - "Innovation Base Platform Services" refers to incubation services and basic property management services provided to early-stage growth enterprises, based on physical spaces, through sales/leasing, including technology enterprise consulting, policy application, investment and financing, and basic business matching[12] Section Two Company Profile and Key Financial Indicators This section provides an overview of the company's basic information, contact details, and key financial performance metrics for the reporting period Company Profile Shenzhen Leaguer Sci & Tech Co, Ltd is listed on the Shenzhen Stock Exchange under stock code 002243, with He Zhen as its legal representative Company Basic Information | Indicator | Content | | :--- | :--- | | Stock Abbreviation | Leaguer Sci & Tech | | Stock Code | 002243 | | Stock Exchange | Shenzhen Stock Exchange | | Company's Chinese Name | 深圳市力合科创股份有限公司 | | Company's Legal Representative | He Zhen | Contact Person and Contact Information This chapter provides detailed contact information for the company's Board Secretary Yu Zhe and Securities Affairs Representative Zhang Chi, including address, phone, fax, and email Contact Information | Position | Name | Contact Address | Phone | Fax | Email | | :--- | :--- | :--- | :--- | :--- | :--- | | Board Secretary | Yu Zhe | Building A, Tongchan Lixing Science Park, No. 1001 Longgang Avenue (Pingdi Section), Longgang District, Shenzhen | 0755-28483234 | 0755-28483900 | yuz@leaguer.com.cn | | Securities Affairs Representative | Zhang Chi | Building A, Tongchan Lixing Science Park, No. 1001 Longgang Avenue (Pingdi Section), Longgang District, Shenzhen | 0755-28483234 | 0755-28483900 | zhangchi@leaguer.com.cn | Other Information During the reporting period, there were no changes to the company's registered address, office address, website, email, information disclosure platforms, or other relevant details, as referenced in the 2024 annual report - The company's registered address, office address and postal code, website, and email remained unchanged during the reporting period, as detailed in the 2024 annual report[16] - The securities exchange website and media name/address for the company's semi-annual report disclosure, and the location for report availability, remained unchanged during the reporting period, as detailed in the 2024 annual report[17] Key Accounting Data and Financial Indicators In the first half of 2025, the company's operating revenue increased by 4.40% to RMB 1.094 billion, with net profit attributable to shareholders growing by 45.76% to RMB 118 million, while non-recurring net profit was negative, decreasing by 121.61% Key Accounting Data and Financial Indicators (H1 2025 vs. Prior Period) | Indicator | Current Period (RMB) | Prior Period (RMB) | YoY Change | | :--- | :--- | :--- | :--- | | Operating Revenue | 1,094,074,623.95 | 1,047,940,827.08 | 4.40% | | Net Profit Attributable to Shareholders of Listed Company | 118,394,625.25 | 81,225,652.55 | 45.76% | | Net Profit Attributable to Shareholders of Listed Company (Excluding Non-Recurring Gains and Losses) | -8,239,764.44 | 38,133,976.62 | -121.61% | | Net Cash Flow from Operating Activities | -67,933,863.08 | -284,800,516.08 | 76.15% | | Basic Earnings Per Share (RMB/share) | 0.0978 | 0.0671 | 45.75% | | Diluted Earnings Per Share (RMB/share) | 0.0978 | 0.0671 | 45.75% | | Weighted Average Return on Net Assets | 1.61% | 1.13% | 0.48% | | Period-End Indicators | Current Period End (RMB) | Prior Year End (RMB) | Change from Prior Year End | | Total Assets | 16,489,244,604.52 | 16,590,938,308.23 | -0.61% | | Net Assets Attributable to Shareholders of Listed Company | 7,269,610,627.82 | 7,280,644,148.82 | -0.15% | Differences in Accounting Data under Domestic and Overseas Accounting Standards During the reporting period, the company reported no differences in net profit and net assets between financial statements prepared under international or overseas accounting standards and those under Chinese accounting standards - The company reported no differences in net profit and net assets between financial statements disclosed under International Accounting Standards and Chinese Accounting Standards during the reporting period[20] - The company reported no differences in net profit and net assets between financial statements disclosed under overseas accounting standards and Chinese Accounting Standards during the reporting period[21] Non-Recurring Gains and Losses and Amounts The company's non-recurring gains and losses for the first half of 2025 totaled RMB 126.63 million, primarily from disposal of non-current assets and government subsidies, partially offset by fair value changes in financial assets Non-Recurring Gains and Losses and Amounts (Unit: RMB) | Item | Amount | | :--- | :--- | | Gains or losses from disposal of non-current assets (including the write-off portion of impairment provisions already made) | 169,471,410.71 | | Government subsidies recognized in current profit and loss (excluding those closely related to the company's normal operations, compliant with national policies, enjoyed according to fixed standards, and having a continuous impact on the company's profit and loss) | 11,591,041.91 | | Gains or losses from changes in fair value of financial assets and liabilities held by non-financial enterprises, and gains or losses from disposal of financial assets and liabilities, except for effective hedging activities related to normal business operations | -17,937,743.10 | | Gains or losses from entrusted investment or asset management | 4,102,832.43 | | Other non-operating income and expenses apart from the above items | -914,209.82 | | Less: Income tax impact | 48,643,622.76 | | Impact on minority interests (after tax) | -8,964,680.32 | | Total | 126,634,389.69 | Section Three Management Discussion and Analysis This section analyzes the company's main businesses, core competencies, operational performance, asset and liability status, investment activities, and risk factors Main Businesses Engaged in During the Reporting Period The company maintains a "technology innovation services + strategic emerging industries" dual-driven model, focusing on technology commercialization investment and high-tech sub-enterprise cultivation through M&A - The company implements its "14th Five-Year Plan" strategic plan, positioning itself as a "comprehensive innovation platform within the Shenzhen SASAC system," consolidating its "technology innovation services + strategic emerging industries" development model[26] - Technology innovation services focus on investment in technology commercialization projects, incubating and investing in leading technology enterprises; strategic emerging industries focus on new materials, new energy, and digital economy fields, exploring M&A and industrial integration[26] Technology Innovation Services The company's technology innovation services, including venture capital, innovation operations, and innovation base platform services, are primarily driven by early-stage "hard tech" investments, supported by comprehensive incubation and regional industrial cluster optimization - Technology venture capital business focuses on investment in technology commercialization projects, primarily in early-stage, seed-stage, and growth-stage "hard tech" fields such such as new-generation information technology, advanced manufacturing, new energy, new materials, and biomedicine[28] - During the reporting period, the company completed 11 investment projects, focusing on new energy, new materials, new-generation information technology, biomedicine, and advanced manufacturing industries[30] - Innovation base platform services rely on a full range of space carriers ("incubator-accelerator-industrial park"), while technology innovation operations provide one-stop incubation services and maintain close interaction with multiple universities to optimize regional industrial clusters[32] Company's Listed Company Equity Held at Period End | No. | Stock Abbreviation | Stock Code | Market Value Held at Period End (RMB 10,000) | | :--- | :--- | :--- | :--- | | 1 | Huajin Capital | 000532 | 41,667.59 | | 2 | Leaguer Micro | 688589 | 40,042.08 | | 3 | *ST Qingyan | 301288 | 12,473.56 | | 4 | Chipsea Technologies | 688595 | 2,671.61 | | 5 | E-SO Technology | HK2550 | (HKD) 1,270.66 | Company's Invested Projects by Industry Category (Penetrated) at Period End | Industry Category | Investment Amount Ratio | | :--- | :--- | | New Generation Information Technology | 16.06% | | Advanced Manufacturing | 47.35% | | New Energy and New Materials | 15.44% | | Biomedical | 7.98% | | Other | 13.17% | Strategic Emerging Industries The company's strategic emerging industries focus on new materials and digital economy, with subsidiary Lixing Technology achieving over 50% export growth in plastic packaging and subsidiary Shuyun Keji expanding smart operation services - Subsidiary Lixing Technology, engaged in plastic packaging material manufacturing, accelerated overseas market expansion during the reporting period, with export business growing over 50%, effectively improving profitability[34] - Subsidiary Shuyun Keji, a digital construction service provider, actively expanded its BOS+ smart operation business and secured approval for a digital twin scientific research project, building on its BIM standard system for full lifecycle data management[35] Core Competitiveness Analysis The company's core competitiveness stems from deep integration of industry, academia, and research, with advantages in technology resources, talent, innovation systems, and strategic synergy, alongside strong capabilities in new materials and digital construction - The company adheres to its core identity of "originating from Tsinghua, rooted in the Special Economic Zone," with deep integration of industry, academia, and research as its core advantage, striving to become a "comprehensive innovation platform within the Shenzhen SASAC system"[36] Technology Innovation Services The company's technology innovation services benefit from strong technology resources through collaborations with Tsinghua Research Institute and other universities, a skilled interdisciplinary talent pool, a deeply integrated incubation system, and strategic support from Shenzhen SASAC - The company possesses advantages in technology achievement resources, primarily from strategic cooperation with Tsinghua Research Institute and various domestic and international universities/research institutions, and as an industrialization partner for innovation cooperation between Tsinghua Research Institute and leading state-owned enterprises[37] - The company has talent and technology advantages, stabilizing core talent through optimized compensation and assessment systems, and building a composite team of industry, academia, and research professionals knowledgeable in technology and industry[37] - The company is deeply involved in the industry-academia-research integrated incubation system co-built with Tsinghua Research Institute, forming unique advantages in "innovative resources, cutting-edge technology understanding, achievement commercialization, enterprise empowerment, and industry cultivation"[38] - The company benefits from strategic synergy and corporate governance advantages, supported by Shenzhen SASAC to build a comprehensive innovation platform, and strategic cooperation with Tsinghua Research Institute ensures alignment with national technology innovation strategies[38] Strategic Emerging Industries Subsidiary Lixing Technology boasts a full plastic packaging industry chain, numerous national and provincial innovation platforms, and extensive industry standards, while Shuyun Keji leads BIM standard development with top-tier core technologies - Subsidiary Lixing Technology has built a full industry chain from creative design to material R&D, packaging manufacturing, cosmetic filling, packaging recycling, beauty instruments, and testing/certification, possessing 6 national-level and over 20 provincial/municipal-level innovation platforms[39] - Lixing Technology leads or participates in the formulation of over 40 national, industry, and group standards, and has established long-term stable cooperation with internationally renowned brands like P&G and Shiseido[39] - Subsidiary Shuyun Keji, a technology commercialization project from Tsinghua University's School of Software, is the lead developer of China's BIM standard technical system, possessing first-class BIM digital standard setting capabilities and core technologies like BIM data engines[40] Main Business Analysis In the first half of 2025, the company's operating revenue grew by 4.40% to RMB 1.094 billion, with net profit attributable to shareholders increasing by 45.76% to RMB 118 million, driven by new materials and investment gains - In the first half of 2025, operating revenue reached RMB 1,094.07 million, a year-on-year increase of 4.40%; net profit attributable to the parent company was RMB 118.39 million, a year-on-year increase of 45.76%[41] - The new materials business segment achieved growth compared to the same period last year, and the company's invested projects developed steadily, leading to increased investment income compared to the same period last year[41] Major Financial Data Year-on-Year Changes (Unit: RMB) | Indicator | Current Period | Prior Period | YoY Change | Reason for Change | | :--- | :--- | :--- | :--- | :--- | | Operating Revenue | 1,094,074,623.95 | 1,047,940,827.08 | 4.40% | | | Operating Cost | 839,891,507.28 | 839,123,284.46 | 0.09% | | | Income Tax Expense | 33,805,029.84 | 4,111,109.51 | 722.28% | Impact of increased total profit | | Net Cash Flow from Operating Activities | -67,933,863.08 | -284,800,516.08 | 76.15% | Decrease in cash paid for goods and services | | Net Cash Flow from Investing Activities | -157,704,175.70 | -288,094,380.61 | 45.26% | Increase in cash received from investment recovery | | Net Cash Flow from Financing Activities | -63,104,870.51 | 375,970,730.12 | -116.78% | Increase in cash paid for repayment of corporate bonds and bank loans | Operating Revenue Composition (Unit: RMB) | Category | Current Period Amount | Proportion of Operating Revenue | Prior Period Amount | Proportion of Operating Revenue | YoY Change | | :--- | :--- | :--- | :--- | :--- | :--- | | By Industry | | | | | | | Technology Innovation Services | 250,449,831.09 | 22.89% | 278,705,039.28 | 26.60% | -10.14% | | Strategic Emerging Industries | 817,763,831.05 | 74.74% | 745,526,982.86 | 71.14% | 9.69% | | By Product | | | | | | | Innovation Base Platform Services | 229,827,041.01 | 21.01% | 251,302,421.76 | 23.98% | -8.55% | | New Materials Industry | 777,228,669.07 | 71.04% | 700,181,949.13 | 66.82% | 11.00% | | Digital Economy Industry | 40,535,161.98 | 3.70% | 45,345,033.73 | 4.33% | -10.61% | | By Region | | | | | | | Export Sales | 260,315,692.07 | 23.79% | 172,726,886.10 | 16.48% | 50.71% | | Domestic Sales | 833,758,931.88 | 76.21% | 875,213,940.98 | 83.52% | -4.74% | Industry, Product, or Region Accounting for Over 10% of Company's Operating Revenue or Operating Profit (Unit: RMB) | Category | Operating Revenue | Operating Cost | Gross Profit Margin | YoY Change in Operating Revenue | YoY Change in Operating Cost | YoY Change in Gross Profit Margin | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | By Industry | | | | | | | | Technology Innovation Services | 250,449,831.09 | 183,688,216.93 | 26.66% | -10.14% | -13.81% | 3.13% | | Strategic Emerging Industries | 817,763,831.05 | 653,600,225.22 | 20.07% | 9.69% | 5.56% | 3.12% | | By Product | | | | | | | | Innovation Base Platform Services | 229,827,041.01 | 161,055,241.49 | 29.92% | -8.55% | -17.20% | 7.32% | | New Materials Industry | 777,228,669.07 | 612,911,817.28 | 21.14% | 11.00% | 6.24% | 3.54% | | By Region | | | | | | | | Export Sales | 260,315,692.07 | 193,400,766.88 | 25.71% | 50.71% | 33.29% | 9.71% | | Domestic Sales | 833,758,931.88 | 646,490,740.40 | 22.46% | -4.74% | -6.85% | 1.76% | Non-Core Business Analysis Non-core businesses significantly contributed to total profit, with investment income accounting for 159.02%, primarily from equity method investments, disposal of financial assets, and wealth management products, demonstrating sustainability Non-Core Business Analysis (Unit: RMB) | Item | Amount | Proportion of Total Profit | Explanation of Formation | Sustainability | | :--- | :--- | :--- | :--- | :--- | | Investment Income | 187,991,223.15 | 159.02% | Primarily from long-term equity investments accounted for by the equity method, investment income from disposal of long-term equity investments, disposal of other non-current financial assets, and income from wealth management products, generated from the company's investment incubation business and entrusted wealth management of idle funds | Yes | | Fair Value Change Gains and Losses | -17,937,743.10 | -15.17% | Primarily from fair value changes of other non-current financial assets measured at fair value and whose changes are recognized in current profit and loss, generated from the company's investment incubation business | Yes | | Asset Impairment | -9,921,311.67 | -8.39% | Primarily impairment provisions for inventory write-downs | Yes | | Non-Operating Income | 1,348,043.27 | 1.14% | Primarily gains from disposal of non-current assets | No | | Non-Operating Expenses | 2,262,253.09 | 1.91% | Primarily losses from disposal of non-current assets | No | Analysis of Assets and Liabilities At the end of the reporting period, total assets slightly decreased, with long-term borrowings significantly increasing by 2.67% due to new drawdowns, while short-term borrowings decreased substantially by 1.19% Significant Changes in Asset Composition (Unit: RMB) | Item | Amount at Current Period End | Proportion of Total Assets | Amount at Prior Year End | Proportion of Total Assets | Change in Proportion | Explanation of Significant Change | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Cash and Bank Balances | 1,594,829,341.08 | 9.67% | 1,854,871,977.26 | 11.18% | -1.51% | | | Inventories | 4,500,781,563.59 | 27.30% | 4,558,521,380.55 | 27.48% | -0.18% | | | Investment Properties | 1,724,680,391.41 | 10.46% | 1,668,004,186.97 | 10.05% | 0.41% | | | Long-Term Equity Investments | 2,168,695,784.65 | 13.15% | 2,181,365,102.65 | 13.15% | 0.00% | | | Short-Term Borrowings | 105,300,000.00 | 0.64% | 303,594,011.16 | 1.83% | -1.19% | | | Long-Term Borrowings | 3,742,513,274.59 | 22.70% | 3,322,847,378.49 | 20.03% | 2.67% | Primarily due to increased long-term borrowings | Assets and Liabilities Measured at Fair Value (Unit: RMB) | Item | Beginning Balance | Fair Value Change Gains/Losses for the Period | Purchases for the Period | Sales for the Period | Ending Balance | | :--- | :--- | :--- | :--- | :--- | :--- | | Trading Financial Assets (excluding derivative financial assets) | 245,514,082.18 | 594,151.91 | 1,034,000,000.00 | 843,000,000.00 | 436,584,958.91 | | Other Non-Current Financial Assets | 2,161,195,625.57 | -20,682,077.28 | 44,017,647.00 | 97,097,464.24 | 2,214,910,138.28 | | Subtotal of Financial Assets | 2,406,709,707.75 | -20,087,925.37 | 1,078,017,647.00 | 940,097,464.24 | 2,651,495,097.19 | Asset Rights Restricted at Period End (Unit: RMB) | Item | Carrying Amount | Type of Restriction | Restriction Status | | :--- | :--- | :--- | :--- | | Cash and Bank Balances | 89,651,100.14 | Performance bond, litigation freeze, letter of credit margin, partner supervision | Restricted | | Fixed Assets | 98,404,209.04 | Mortgage loan | Restricted | | Investment Properties | 552,871,453.25 | Mortgage loan | Restricted | | Intangible Assets | 63,132,614.00 | Pledge loan | Restricted | | Accounts Receivable | 112,386,345.80 | Pledge loan | Restricted | | Inventories | 2,198,359,327.18 | Mortgage loan, litigation freeze | Restricted | | Equity | 300,000,000.00 | Pledge loan | Restricted | | Total | 3,414,805,049.41 | | | Investment Status Analysis During the reporting period, the company's total investment was RMB 115 million, a 28.58% decrease year-on-year, with financial asset investments including listed company equities totaling RMB 38.30 million in book value Investment Amount for the Reporting Period (Unit: RMB) | Investment Amount for the Reporting Period | Investment Amount for the Prior Period | Change Rate | | :--- | :--- | :--- | | 115,373,494.54 | 161,543,290.10 | -28.58% | Securities Investment Status (Unit: RMB) | Stock Abbreviation | Stock Code | Initial Investment Cost | Carrying Amount at Period End | Fair Value Change Gains/Losses for the Period | | :--- | :--- | :--- | :--- | :--- | | Chipsea Technologies | 688595 | 6,000,000.00 | 26,716,089.75 | 3,279,669.75 | | E-SO Technology | HK2550 | 11,352,587.64 | 11,587,745.35 | -986,319.74 | | Total | | 17,352,587.64 | 38,303,835.10 | 2,293,350.01 | - The company had no derivative investments during the reporting period[59] Disposal of Major Assets and Equity During the reporting period, the company did not engage in any significant asset or equity disposals - The company did not dispose of any major assets during the reporting period[61] - The company did not dispose of any major equity during the reporting period[62] Analysis of Major Holding and Invested Companies The company's major subsidiaries include Shenzhen Tongchan Lixing Technology Group Co, Ltd and Shenzhen Leaguer Venture Capital Co, Ltd, with Taicang Renlixin Technology Development Co, Ltd as an associate, and four subsidiaries were deregistered Major Subsidiaries and Invested Companies with Over 10% Impact on Company's Net Profit (Unit: RMB) | Company Name | Company Type | Main Business | Registered Capital | Total Assets | Net Assets | Operating Revenue | Operating Profit | Net Profit | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Shenzhen Tongchan Lixing Technology Group Co., Ltd. | Subsidiary | Manufacturing | 364,948,956.00 | 2,578,602,397.21 | 1,998,716,813.95 | 599,076,104.16 | 30,048,798.07 | 28,271,449.36 | | Shenzhen Leaguer Venture Capital Co., Ltd. | Subsidiary | Investment Incubation | 450,000,000.00 | 1,496,582,100.22 | 1,388,135,392.32 | 5,096,654.50 | 177,746,169.26 | 146,701,365.61 | | Taicang Renlixin Technology Development Co., Ltd. | Associate | Industrial Park Development | 1,044,120,000.00 | 2,683,109,972.63 | 1,515,034,968.61 | 834,360,790.77 | 59,056,164.34 | 44,292,123.26 | Acquisition and Disposal of Subsidiaries During the Reporting Period | Company Name | Method of Acquisition and Disposal of Subsidiaries During the Reporting Period | Impact on Overall Production, Operations, and Performance | | :--- | :--- | :--- | | Shanghai Ligang Yuanhe Entrepreneurship Incubator Management Co., Ltd. | Deregistration | No production or operation in 2025 | | Hunan Leaguer Venture Capital Co., Ltd. | Deregistration | No production or operation in 2025 | | Shenzhen Zhongke Tongchan Environmental Materials Co., Ltd. | Deregistration | No production or operation in 2025 | | Shenzhen Leaguer Fengyin Technology Development Co., Ltd. | Deregistration | No production or operation in 2025 | Structured Entities Controlled by the Company The company controls several structured entities, including venture capital partnerships, by holding over two-thirds of the representatives on their investment committees, despite owning less than 50% or two-thirds of their equity - The company holds a 48% stake in Shenzhen Leaguer Angel Venture Capital Partnership (Limited Partnership), but controls its investment committee's operational decisions by having over two-thirds of the representatives, thus it is included in the scope of consolidation[64] - The company holds a 49.50% stake in Shenzhen Leaguer Guangming Technology Innovation Venture Capital Enterprise (Limited Partnership) and a 22.64% stake in Chongqing Leaguer Zhichuang No. 1 Venture Capital Fund Partnership (Limited Partnership), both included in the scope of consolidation due to control over investment committee decisions[65] - The company holds a 20.00% stake in Shenzhen Guangming Leaguer Science City Seed Venture Capital Fund Partnership (Limited Partnership), included in the scope of consolidation due to control over investment committee decisions[66] Risks Faced by the Company and Countermeasures The company faces risks from macroeconomic uncertainty, market competition, rising costs, and talent loss, addressed by deepening innovation services, optimizing operations, strengthening supply chains, and expanding markets - Macroeconomic environment risks: Changes in the foreign trade environment, tariff policies, and escalating geopolitical conflicts in the first half of the year created uncertainty for the global economy, impacting the company's plastic packaging, innovation base operations, and digital economy businesses[67] - Market competition and volatility risks: The plastic packaging industry has low entry barriers and intense competition, with slowing growth in downstream beauty customers leading to gross margin pressure; invested incubation companies are affected by secondary market stock price fluctuations, causing volatility in fair value change gains and losses; early-stage companies face increased financing difficulties, and innovation base platform services face destocking pressure[68] - Rising cost risks: Subsidiary Lixing Technology faces upstream supply price volatility risks, and export sales are affected by exchange rate fluctuations; the company's investments in innovation base construction and proprietary industries led to significant year-on-year increases in various costs and expenses[69] - Talent loss risks: Technology innovation services are an intellectual-intensive industry, requiring the company to continuously optimize mechanisms and establish sound systems to prevent talent attrition[70] Formulation and Implementation of Market Value Management System and Valuation Enhancement Plan The company did not formulate a market value management system or disclose a valuation enhancement plan during the reporting period - The company did not formulate a market value management system during the reporting period[71] - The company did not disclose a valuation enhancement plan during the reporting period[71] Implementation of "Quality and Return Dual Improvement" Action Plan The company actively implemented its "Quality and Return Dual Improvement" plan, achieving growth in operating revenue and net profit, maintaining a healthy financial structure, and distributing RMB 84.74 million in cash dividends for 2024 - The company aims to "provide first-class scientific and technological innovation services and cultivate first-class technology enterprises" as its core objective, consolidating its "technology innovation services + strategic emerging industries" development model[72] - In the first half of 2025, the company achieved operating revenue of RMB 1,094.07 million, a year-on-year increase of 4.40%; net profit attributable to shareholders of the listed company was RMB 118.39 million, a year-on-year increase of 45.76%[72] - The 2024 profit distribution plan has been fully implemented, distributing a cash dividend of RMB 0.7 (including tax) per 10 shares to all shareholders, totaling RMB 84.74 million, accounting for 34.52% of the net profit attributable to shareholders of the listed company in 2024[72] - The company has established diversified investor communication channels, maintaining efficient interaction with the capital market through platforms like the Interactive Easy platform and investor hotlines[72] Section Four Corporate Governance, Environment, and Society This section details changes in the company's directors, supervisors, and senior management, profit distribution plans, employee incentive measures, environmental disclosures, and social responsibility initiatives Changes in Company Directors, Supervisors, and Senior Management During the reporting period, CEO He Zhen resigned due to work reassignment but continued as Chairman, and independent director Zhang Hanbin departed upon term expiration Changes in Directors, Supervisors, and Senior Management | Name | Position Held | Type | Date | Reason | | :--- | :--- | :--- | :--- | :--- | | He Zhen | General Manager | Appointment/Removal | May 22, 2025 | Work reassignment | | Zhang Hanbin | Independent Director | Departure | July 03, 2025 | Personal reasons | Profit Distribution and Capital Reserve Conversion to Share Capital for the Current Reporting Period The company plans not to distribute cash dividends, bonus shares, or convert capital reserves into share capital for the semi-annual period - The company plans not to distribute cash dividends, bonus shares, or convert capital reserves into share capital for the semi-annual period[76] Implementation of Company's Equity Incentive Plans, Employee Stock Ownership Plans, or Other Employee Incentive Measures During the reporting period, the company had no equity incentive plans, employee stock ownership plans, or other employee incentive measures in place or implemented - The company had no equity incentive plans, employee stock ownership plans, or other employee incentive measures or their implementation during the reporting period[77] Environmental Information Disclosure The company's main subsidiary, Shenzhen Tongchan Lixing Technology Group Co, Ltd, is listed as an enterprise required to disclose environmental information and has publicly released its environmental report - The listed company and its main subsidiary, Shenzhen Tongchan Lixing Technology Group Co, Ltd, are included in the list of enterprises required to disclose environmental information by law[78] - Shenzhen Tongchan Lixing Technology Group Co, Ltd's legally disclosed environmental information report can be found on the Guangdong Enterprise Environmental Information Disclosure Platform[78] Social Responsibility Status The company actively fulfills its social responsibilities by protecting shareholder and employee rights, fostering harmonious supply chain relationships, engaging in public welfare, and maintaining a robust safety production system - The company strictly adheres to laws, regulations, and its Articles of Association, improving corporate governance, safeguarding shareholder rights, and ensuring truthful, accurate, complete, and timely information disclosure[79] - The company complies with labor laws and regulations, protects employees' legitimate rights and interests, established an "Employee Mutual Aid Fund," and actively organizes various activities and training to enhance corporate cohesion[80] - The company continuously promotes supply chain development, selects socially responsible suppliers, and is committed to providing customers with high-quality full-industry-chain services to enhance customer satisfaction[81] - The company actively engages in public welfare and education, with its subsidiary Shenzhen Leaguer Zijing Industrial Consulting Co, Ltd, jointly establishing the Shenzhen Leaguer Zijing Public Welfare Foundation with various caring individuals to carry out projects such as support programs for families of people with disabilities, one-on-one student aid, and special education for children[81] - The company has established a comprehensive safety production supervision system, regularly conducting risk identification and safety training, with 43 safety training sessions attended by 2,806 person-times during the reporting period, achieving a 100% completion rate for safety hazard investigation and rectification, and no major safety accidents occurred[81] Section Five Significant Matters This section covers commitments, related party transactions, guarantees, litigation, and other material events affecting the company Commitments Fulfilled and Overdue Unfulfilled Commitments by Actual Controller, Shareholders, Related Parties, Acquirers, and the Company During and as of the End of the Reporting Period During the reporting period, there were no commitments by the company's actual controller, shareholders, related parties, acquirers, or the company that were either fulfilled or overdue and unfulfilled - During the reporting period, there were no commitments by the company's actual controller, shareholders, related parties, acquirers, or the company that were either fulfilled or overdue and unfulfilled as of the end of the reporting period[83] Non-Operating Fund Occupation by Controlling Shareholder and Other Related Parties During the reporting period, there was no non-operating fund occupation by the controlling shareholder or other related parties of the listed company - During the reporting period, there was no non-operating fund occupation by the controlling shareholder or other related parties of the listed company[84] Irregular External Guarantees During the reporting period, the company had no irregular external guarantees - The company had no irregular external guarantees during the reporting period[85] Appointment and Dismissal of Accounting Firms The company's semi-annual financial report was not audited - The company's semi-annual report was not audited[86] Explanation by the Board of Directors and Supervisory Board on the Accounting Firm's "Non-Standard Audit Report" for the Current Reporting Period During the reporting period, the company did not receive a "non-standard audit report" from its accounting firm - During the reporting period, the company did not receive a "non-standard audit report" from its accounting firm[87] Explanation by the Board of Directors Regarding the "Non-Standard Audit Report" from the Previous Year During the reporting period, the company had no explanation regarding the "non-standard audit report" from the previous year - During the reporting period, the company had no explanation regarding the "non-standard audit report" from the previous year[87] Matters Related to Bankruptcy and Reorganization During the reporting period, the company did not experience any matters related to bankruptcy and reorganization - During the reporting period, the company did not experience any matters related to bankruptcy and reorganization[87] Litigation Matters During the reporting period, the company had no major litigation or arbitration, but was involved in multiple other lawsuits totaling approximately RMB 32 million, including equity transfer, repurchase, and contract disputes - The company had no major litigation or arbitration matters during this reporting period[88] Overview of Other Litigation Matters (Unit: RMB 10,000) | Basic Information of Litigation (Arbitration) | Amount Involved | Provision for Liabilities Formed | Litigation (Arbitration) Progress | Outcome and Impact of Litigation (Arbitration) | Enforcement Status of Litigation (Arbitration) Judgment | | :--- | :--- | :--- | :--- | :--- | :--- | | Shenzhen Leaguer Venture Capital Co., Ltd. transferred part of its equity in Shuimu Jinggu Environmental Technology Co., Ltd. to Beijing Zhongkuang United Investment Fund (Limited Partnership) in 2020; due to the transferee's failure to pay the full equity transfer price as agreed, Shenzhen Leaguer Venture Capital Co., Ltd. filed a lawsuit demanding performance of obligations | 2,857.43 | No | Judgment effective, in enforcement stage | According to the first-instance judgment, the defendant shall jointly pay the unpaid equity transfer price and liquidated damages to our company. The second-instance court ruled that the first-instance judgment became effective. An application for compulsory enforcement was filed in September 2024; currently in compulsory enforcement | In compulsory enforcement | | Shenzhen Leaguer Venture Capital Co., Ltd. invested RMB 19,944,000 in Shenzhen Shengang Industry-University-Research Environmental Engineering Technology Co., Ltd. through a private placement in 2018; a repurchase was triggered due to underperformance, and after unsuccessful communication, a lawsuit was filed against founder Yang Xiaomao to fulfill the repurchase obligation | 3,044.44 | No | Judgment effective, enforcement concluded | The first-instance judgment ruled in favor of the plaintiff, Leaguer Venture Capital, with the defendant liable for principal and repurchase payments totaling RMB 26,317,337.42, plus liquidated damages at an annual interest rate of 6% from February 5, 2022. | This case has been concluded, and the judgment debtor Yang Xiaomao has been listed as a dishonest judgment debtor | | China Huaxi Enterprise Co., Ltd. and Guangdong Leaguer Shuangqing Technology Innovation Co., Ltd. had a dispute over the performance of a general contracting project; China Huaxi Enterprise Co., Ltd. sued Guangdong Leaguer Shuangqing Technology Innovation Co., Ltd., Shenzhen Leaguer Innovation Development Co., Ltd., and Leaguer Sci & Tech Group Co., Ltd. to repay the remaining project funds and related expenses | 12,954.97 | No | Second instance judgment effective | Received the first-instance preliminary judgment on January 5, 2024; received the first-instance judgment on December 9, 2024, ruling that Guangdong Leaguer Shuangqing Technology Innovation Co., Ltd. must pay China Huaxi Enterprise Co., Ltd. project funds and interest totaling RMB 22,037,999.65; Leaguer Shuangqing submitted an appeal on December 19, 2024. Received the second-instance judgment on April 8, 2025, ruling that Leaguer Shuangqing must pay RMB 24.55 million | Enforcement completed | | Shenzhen Leaguer Venture Capital Co., Ltd. v. Shen Zhongdong, Shen Zhongde regarding the share repurchase arbitration case of Shenzhen Shenneng Keta Energy Technology Co., Ltd. | 3,488.13 | No | Arbitration awarded | On March 29, 2025, received the ruling from Shenzhen International Arbitration Court, ordering the defendants to jointly pay a share repurchase amount of RMB 18 million + 10% annualized interest (calculated from November 17, 2017), liquidated damages, attorney fees, litigation guarantee fees, arbitration fees, etc. | Application for compulsory enforcement filed | | Jiangsu Chuangyu Construction Engineering Co., Ltd. sued Jiangsu Xiexing Construction and Installation Engineering Co., Ltd., China Energy Engineering Group Jiangsu Province Electric Power Construction Third Engineering Co., Ltd., and Jiangsu Leaguer Smart Manufacturing Industrial Park Development Co., Ltd. for joint liability for project payments and corresponding interest due to a construction dispute at Jiangsu Leaguer Smart Manufacturing Industrial Park (Danyang Park) | 536.3 | No | First instance stage | First instance hearing held, awaiting judgment | First instance hearing held, awaiting judgment | | A local government agency sued Leaguer Sci & Tech Group Co., Ltd. regarding a "Cooperation Operation Contract" dispute | 5,900 | No | First instance stage | Case filed in November 2024, jurisdiction objection not yet finally ruled, substantive dispute not yet heard | Case filed, awaiting hearing | | Leaguer Sci & Tech Group Co., Ltd. sued a local government agency regarding a "Cooperation Operation Contract" dispute | 2,834.84 | No | First instance stage, awaiting hearing | Case filed in January 2025, awaiting hearing | Case filed, awaiting hearing | | Hunan Leaguer Changzhutan Innovation Center Co., Ltd. sued Yin Shuhu regarding the repurchase of Hunan Watson Electric Technology Co., Ltd. | 2,483.58 | No | Arbitration stage, awaiting hearing | Arbitration submitted to Hunan Xiangtan Arbitration Commission, case filed in November 2024, awaiting arbitration hearing | Case filed, awaiting hearing | | Huizhou Chuangjian Concrete Co., Ltd. sued Guangzhou Construction Co., Ltd., Guangdong Honghua Construction Engineering Co., Ltd., UCO Digital Technology (Huizhou) Co., Ltd., Guangzhou Construction Group Co., Ltd., and Shenzhen Leaguer Innovation Development Co., Ltd. for project payments and corresponding interest from Guangzhou Construction Co., Ltd. due to an engineering dispute | 692.61 | No | Case closed | Plaintiff withdrew lawsuit against Leaguer Innovation Development and UCO Digital, reached settlement with other parties, case closed | Case closed | | China Energy Engineering Group Jiangsu Province Electric Power Construction Third Engineering Co., Ltd. sued Jiangsu Leaguer Smart Manufacturing Industrial Park Development Co., Ltd. for project payments and corresponding interest | 5,839.45 | No | First instance stage | Received filing materials on April 23, 2025; first instance currently in progress, no hearing yet | First instance currently in progress | | Guangdong Fogao Holdings Co., Ltd. sued Foshan Nanhai Guokai Investment Co., Ltd. regarding a commercial housing sales contract dispute | 10,584.11 | No | First instance stage | Received response materials on May 21, 2025, no hearing yet | Case filed, awaiting hearing | Penalties and Rectification Status During the reporting period, the company had no penalties or rectification situations - The company had no penalties or rectification situations during the reporting period[93] Integrity Status of the Company, its Controlling Shareholder, and Actual Controller During the reporting period, there were no integrity issues concerning the company, its controlling shareholder, or actual controller - During the reporting period, there were no integrity issues concerning the company, its controlling shareholder, or actual controller[94] Major Related Party Transactions During the reporting period, the company had no major related party transactions related to daily operations, asset/equity acquisition/disposal, or joint external investments, but did have non-operating related party receivables and payables - The company had no related party transactions related to daily operations during the reporting period[95] - The company had no related party transactions involving asset or equity acquisition/disposal during the reporting period[95] - The company had no related party transactions involving joint external investments during the reporting period[96] Related Party Receivables and Payables (Unit: RMB 10,000) | Related Party | Related Party Relationship | Reason for Formation | Beginning Balance | Amount Added This Period | Amount Repaid This Period | Ending Balance | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Taicang Renlixin Technology Development Co., Ltd. | Associate | Current account | 22,000 | 16,300 | 6,000 | 32,300 | | Shenzhen Hi-Tech Investment Small Loan Co., Ltd. | Other subsidiary directly controlled by controlling shareholder and actual controller | Loan | 2,000 | | 49.6 | 2,000 | - During the reporting period, related party debts arose from non-operating related party receivables and payables, with no actions harming the interests of the company or its shareholders[98] Major Contracts and Their Performance During the reporting period, the company had no entrustment, contracting, or leasing matters; total external guarantees amounted to RMB 1.419 billion, and entrusted wealth management totaled RMB 1.034 billion - The company had no entrustment, contracting, or leasing situations during the reporting period[102][103][105] External Guarantees by the Company and its Subsidiaries (Unit: RMB 10,000) | Name of Guaranteed Party | Guarantee Limit | Actual Guarantee Amount | Type of Guarantee | Fulfilled | Related Party Guarantee | | :--- | :--- | :--- | :--- | :--- | :--- | | Guangdong Leruida Technology Co., Ltd. | 476.08 | 476.08 | Joint and several liability guarantee | No | No | | Zhuhai Gongping Engineering Cost Consulting Co., Ltd. | 800 | 800 | Joint and several liability guarantee | No | No | | Zhuhai Shinuo Electric Technology Co., Ltd. | 1,000 | 1,000 | Joint and several liability guarantee | No | No | | Huizhou Best New Energy Technology Co., Ltd. | 1,000 | 1,000 | Joint and several liability guarantee | No | No | | Huizhou Jiaxinda Technology Co., Ltd. | 299 | 299 | Joint and several liability guarantee | No | No | | Guangdong Huizhou Ruicheng Jiada Electronics Co., Ltd. | 2,645 | 2,645 | Joint and several liability guarantee | No | No | | Dongguan Rongqiao Xintai Technology Co., Ltd. | 830 | 830 | Joint and several liability guarantee | No | No | | Dongguan Herui Software Design Co., Ltd. | 296 | 296 | Joint and several liability guarantee | No | No | | Guangdong Zhiteng Innovation Technology Co., Ltd. | 388 | 388 | Joint and several liability guarantee | No | No | | Dongguan Zuochuan Chemical Technology Co., Ltd. | 418 | 418 | Joint and several liability guarantee | No | No | | Dongguan Changpei Technology Co., Ltd. | 250 | 250 | Joint and several liability guarantee | No | No | | Dongguan Juxin Electronics Co., Ltd. | 850 | 850 | Joint and several liability guarantee | Yes | No | | Dongguan Hongtu Instrument Co., Ltd. | 430 | 430 | Joint and several liability guarantee | No | No | | Dongguan Lingxin Intelligent Technology Co., Ltd. | 690 | 690 | Joint and several liability guarantee | No | No | | Dongguan Jieweike Electronic Technology Co., Ltd. | 840 | 840 | Joint and several liability guarantee | Yes | No | | Dongguan Caixuan Optoelectronic Technology Co., Ltd. | 810 | 810 | Joint and several liability guarantee | Yes | No | | Dongguan Xinpuida Technology Co., Ltd. | 860 | 860 | Joint and several liability guarantee | No | No | | Fanzhuo Electronic Technology (Huizhou) Co., Ltd. | 625 | 625 | Joint and several liability guarantee | No | No | | Jiangsu Ruichi Information Technology Co., Ltd. | 155 | 155 | Joint and several liability guarantee | Yes | No | | Zhenjiang Zhuoxiao New Material Technology Co., Ltd. | 95 | 95 | Joint and several liability guarantee | Yes | No | | Huizhou Jingye Technology Co., Ltd. | 2,460 | 2,460 | Joint and several liability guarantee | No | No | | Zhuhai Haoyufeng Fluid Technology Co., Ltd. | 865 | 865 | Joint and several liability guarantee | No | No | | Haitong Anheng Technology Co., Ltd. | 2,297 | 2,297 | Joint and several liability guarantee | No | No | | Zhuhai Wutongshu E-commerce Co., Ltd. | 1,900 | 1,900 | Joint and several liability guarantee | No | No | | Huizhou Yunding Technology Co., Ltd. | 340 | 340 | Joint and several liability guarantee | No | No | | Guangdong Weiyi Technology Co., Ltd. | 700 | 700 | Joint and several liability guarantee | No | No | | Danyang Huahui Optical Instrument Co., Ltd. | 1,000 | 1,000 | Joint and several liability guarantee | Yes | No | | Huizhou Yelongda Electronics Co., Ltd. | 1,000 | 1,000 | Joint and several liability guarantee | No | No | | Huizhou Lixun Sensing Technology Co., Ltd. | 884.52 | 884.52 | Joint and several liability guarantee | No | No | | Huizhou Liling Sensing Technology Co., Ltd. | 573.3 | 573.3 | Joint and several liability guarantee | No | No | | Huizhou Licheng Sensing Technology Co., Ltd. | 573.3 | 573.3 | Joint and several liability guarantee | No | No | | Huizhou Qilong Technology Co., Ltd. | 1,000 | 1,000 | Joint and several liability guarantee | Yes | No | | Guangdong Quan Jia Group Co., Ltd. | 611.63 | 611.63 | Joint and several liability guarantee | No | No | | Huizhou Lingte Leaguer Technology Co., Ltd. | 860 | 860 | Joint and several liability guarantee | No | No | | Huizhou Weirui Electronic Technology Co., Ltd. | 598 | 598 | Joint and several liability guarantee | No | No | | Guangdong Youbeite Technology Co., Ltd. | 2,680 | 2,680 | Joint and several liability guarantee | No | No | | Huizhou Zhonghui New Energy Technology Co., Ltd. | 5,240 | 5,240 | Joint and several liability guarantee | No | No | | Huizhou Dongchen Biological Materials Co., Ltd. | 280 | 280 | Joint and several liability guarantee | No | No | | Jiangsu Lanqi Glasses Co., Ltd. | 90 | 90 | Joint and several liability guarantee | No | No | | Danyang Yuaner Connector Co., Ltd. | 738 | 738 | Joint and several liability guarantee | No | No | | Guangdong Yuekuquzhe Electronics Co., Ltd. | 680 | 680 | Joint and several liability guarantee | No | No | | Huizhou Changfei Optoelectronic Technology Co., Ltd. | 600 | 600 | Joint and several liability guarantee | No | No | | Huizhou Bitubicheng Precision Technology Co., Ltd. | 1,482.5 | 1,482.5 | Joint and several liability guarantee | No | No | | Guangdong Yifan Automation Technology Co., Ltd. | 1,570 | 1,570 | Joint and several liability guarantee | No | No | | Dongguan Keyouda Electronic Technology Co., Ltd. | 2,500 | 2,500 | Joint and several liability guarantee | No | No | | Dongguan Yilite New Energy Co., Ltd. | 1,200 | 1,200 | Joint and several liability guarantee | No | No | | Dongguan Hongguan Food Technology Co., Ltd. | 1,930 | 1,930 | Joint and several liability guarantee | No | No | | Dongguan Keyouda Electronic Technology Co., Ltd. | 500 | 500 | Joint and several liability guarantee | No | No | | Danyang Yiming Electronics Co., Ltd. | 69 | 69 | Joint and several liability guarantee | No | No | | Guangdong Xiaofang Technology Co., Ltd. | 583 | 583 | Joint and several liability guarantee | No | No | | Jiangsu Danrun Automation Equipment Co., Ltd. | 1,134 | 1,134 | Joint and several liability guarantee | No | No | | Total Company Guarantees | | | | | | | Total Approved Guarantee Amount for the Reporting Period (A1+B1+C1) | 100,000 | Total Actual Guarantee Amount Incurred for the Reporting Period (A2+B2+C2) | 4,028.86 | | | | Total Approved Guarantee Amount at Period End (A3+B3+C3) | 292,930 | Total Actual Guarantee Balance at Period End (A4+B4+C4) | 141,989.25 | | | | Proportion of Total Actual Guarantee Amount (i.e., A4+B4+C4) to Company's Net Assets | 19.53% | | | | | | Of which: Debt Guarantee Balance Provided Directly or Indirectly for Guaranteed Parties with Asset-Liability Ratio Exceeding 70% (E) | 105,482.79 | | | | | | Total of the Above Three Guarantee Amounts (D+E+F) | 105,482.79 | | | | | Entrusted Wealth Management (Unit: RMB 10,000) | Specific Type | Source of Entrusted Wealth Management Funds | Amount of Entrusted Wealth Management Incurred | Unexpired Balance | Overdue Unrecovered Amount | | :--- | :--- | :--- | :--- | :--- | | Bank Wealth Management Products | Own Funds | 103,400 | 43,600 | 0 | | Total | | 103,400 | 43,600 | 0 | Explanation of Other Significant Matters During the reporting period, the company's controlling shareholder's upper-level equity structure changed multiple times without altering the direct controlling shareholder or actual controller; the company issued RMB 700 million in medium-term notes and appointed a new general manager - The upper-level equity structure of the company's controlling shareholder, Shenzhen Tsinghua Research Institute Investment Holdings Co, Ltd, underwent multiple changes, but none resulted in a change of the company's direct controlling shareholder or actual controller, nor did the corporate governance structure change[114][115][116][117] - The company's first tranche of 2025 medium-term notes (Sci-Tech Innovation Notes) was issued on April 7, 2025, totaling RMB 700 million with an issuance rate of 2.18%[116] - The company's Board of Directors received a written resignation report from Chairman and General Manager Mr. He Zhen, who resigned from his General Manager position due to company operational management needs; the company appointed Mr. Xu Anbi as the new General Manager[117] - Independent Director Mr. Zhang Hanbin resigned due to serving six consecutive years as an independent director, and the company elected Mr. Yang Gaoyu as a new independent director for the Sixth Board of Directors[118] - The company agreed that its wholly-owned subsidiary Shenzhen Leaguer Venture Capital Co, Ltd, its controlling subsidiary Hubei Changjiang Leaguer Sci & Tech Co, Ltd, and the company would jointly establish the Hubei Province Leaguer Changjiang Technology Innovation Supply Chain Investment Fund Partnership (Limited Partnership), with a fund size of RMB 500 million[119] Significant Matters of Company Subsidiaries The company's wholly-owned subsidiary Leaguer Sci & Tech Group Co, Ltd extended a RMB 50 million financial assistance to its controlling subsidiary Shenzhen Leaguer Newspaper Big Data Center Co, Ltd for three years, and provided up to RMB 1 billion in phased guarantees for project tenants' bank mortgage loans - Wholly-owned subsidiary Leaguer Sci & Tech Group Co, Ltd extended a RMB 50 million financial assistance to its controlling subsidiary Shenzhen Leaguer Newspaper Big Data Center Co, Ltd for three years[120] - The company's subsidiaries provide phased guarantees for bank mortgage loans for tenants (institutions or individuals) of nine projects, including the "Leaguer Sci & Tech (Guangzhou) Innovation Center Project," with a total guarantee amount not exceeding RMB 1 billion[121][122] - Controlling subsidiary Zhuhai Tsinghua Science Park Venture Capital Co, Ltd applied to banks for a credit line not exceeding RMB 610 million, providing its properties as collateral[122] - Wholly-owned subsidiary Leaguer Sci & Tech Group Co, Ltd extended a RMB 278 million financial assistance to its controlling subsidiary Huizhou Leaguer Innovation Center Co, Ltd for five years[123] Section Six Share Changes and Shareholder Information This section details the company's share capital structure, shareholder numbers, and changes in holdings of directors, supervisors, and senior management Share Changes During the reporting period, the company's total share capital remained unchanged at 1,210,604,219 shares, with restricted shares accounting for 0.53% and unrestricted shares for 99.47% Share Changes (Unit: Share) | | Number Before Change | Proportion Before Change | Net Increase/Decrease in This Change (＋,－) | Number After Change | Proportion After Change | | :--- | :--- | :--- | :--- | :--- | :--- | | I. Restricted Shares | 6,461,929 | 0.53% | 0 | 6,461,929 | 0.53% | | II. Unrestricted Shares | 1,204,142,290 | 99.47% | 0 | 1,204,142,290 | 99.47% | | III. Total Shares | 1,210,604,219 | 100.00% | 0 | 1,210,604,219 | 100.00% | - During the reporting period, the reasons for share changes, approval status, transfer status, progress of share repurchases, and impact on financial indicators were all not applicable or unchanged[126] Securities Issuance and Listing The company had no securities issuance or listing activities during the reporting period - The company had no securities issuance or listing activities during the reporting period[127] Company Shareholder Numbers and Shareholding Status At the end of the reporting period, the total number of common shareholders was 38,946; Shenzhen Tsinghua Research Institute Investment Holdings Co, Ltd and Shenzhen Tongchan Group Co, Ltd were the largest shareholders, holding 34.43% and 15.68% respectively - At the end of the reporting period, the total number of common shareholders was 38,946[128] Shareholding Status of Shareholders Holding 5% or More or Top 10 Shareholders (Excluding Shares Lent Through Securities Lending) (Unit: Share) | Shareholder Name | Shareholder Nature | Shareholding Ratio | Number of Shares Held at Period End | Change During Reporting Period | Number of Restricted Shares Held | Number of Unrestricted Shares Held | Share Status | Number of Pledged, Marked, or Frozen Shares | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Shenzhen Tsinghua Research Institute Investment Holdings Co., Ltd. | State-owned Legal Person | 34.43% | 416,812,955 | No change | 0 | 416,812,955 | Not applicable | 0 | | Shenzhen Tongchan Group Co., Ltd. | State-owned Legal Person | 15.68% | 189,844,504 | No change | 0 | 189,844,504 | Not applicable | 0 | | Huang Jie | Domestic Natural Person | 3.19% | 38,634,272 | 1,665,800 | 0 | 38,634,272 | Not applicable | 0 | | Hainan Donghuifu Enterprise Management Co., Ltd. | Domestic Non-State-owned Legal Person | 2.38% | 28,766,100 | -901,000 | 0 | 28,766,100 | Frozen | 9,716,000 | | Chen Qianping | Domestic Natural Person | 1.72% | 20,798,858 | No change | 0 | 20,798,858 | Not applicable | 0 | | Tsinghua Hold