思科瑞(688053) - 2025 Q2 - 季度财报

Definitions This chapter defines common terms used in the report, including company names, subsidiaries, major shareholders, industry organizations, technical terms, and financial measurement units, to ensure accurate understanding of the report content[10][11] Company Profile and Key Financial Indicators This section provides an overview of the company's basic information, contact details, stock summary, and key financial performance metrics Company Basic Information This section outlines Chengdu Screen Microelectronics Co., Ltd.'s basic information, including its full name, abbreviation, legal representative, registered and office addresses, website, and email - The company's full name is Chengdu Screen Microelectronics Co., Ltd., abbreviated as Screen, with Zhang Ya as the legal representative[14] - Both the company's registered and office addresses are located at No. 68, Antai Fourth Road, Chengdu High-tech Zone[14] Contact Persons and Information This section provides contact details for the company's Board Secretary and Securities Affairs Representative, facilitating investor inquiries and communication - The Board Secretary is Wu Changnian, and the Securities Affairs Representative is Li Haomiao, both reachable at 028-89140831, with the email security@cd-screen.cn[15] Information Disclosure and Document Placement Location Changes This section details the company's designated newspapers, website for information disclosure, and the placement location for semi-annual reports, with no changes during the reporting period - The company's designated newspapers for information disclosure include "China Securities Journal," "Shanghai Securities News," "Securities Times," "Securities Daily," and "Economic Information Daily," with the website www.sse.com.cn[16](index=16&type=chunk) - The company's semi-annual report is available at the Board of Directors' Office, with no changes during the reporting period[16] Overview of Company Shares/Depositary Receipts This section describes the company's stock listing, including share type, exchange, board, stock abbreviation, and code, confirming no depositary receipts - The company's A-shares are listed on the STAR Market of the Shanghai Stock Exchange, with the stock abbreviation Screen and stock code 688053[17] - The company has no depositary receipts[18] Company's Key Accounting Data and Financial Indicators During the reporting period, the company's operating revenue significantly increased by 81.67%, total profit and net profit attributable to shareholders turned profitable, while net cash flow from operating activities decreased by 78.46% year-on-year Key Accounting Data (Jan-Jun 2025 vs. Prior Year Period) | Indicator | Current Reporting Period (Jan-Jun) | Prior Year Period | Period-on-Period Change (%) | | :--- | :--- | :--- | :--- | | Operating Revenue | 100,997,222.77 yuan | 55,593,342.63 yuan | 81.67 | | Total Profit | 53,581.03 yuan | -6,140,307.23 yuan | Not Applicable | | Net Profit Attributable to Shareholders of Listed Company | 3,584,197.41 yuan | -2,468,765.76 yuan | Not Applicable | | Net Cash Flow from Operating Activities | 9,943,456.34 yuan | 46,172,332.12 yuan | -78.46 | Key Financial Indicators (Jan-Jun 2025 vs. Prior Year Period) | Indicator | Current Reporting Period (Jan-Jun) | Prior Year Period | Period-on-Period Change | | :--- | :--- | :--- | :--- | | Basic Earnings Per Share (yuan/share) | 0.04 | -0.02 | Increased by 0.06 yuan/share | | Diluted Earnings Per Share (yuan/share) | 0.04 | -0.02 | Increased by 0.06 yuan/share | | Basic EPS Excluding Non-Recurring Gains and Losses (yuan/share) | 0.01 | -0.05 | Increased by 0.06 yuan/share | | Weighted Average Return on Net Assets (%) | 0.22 | -0.15 | Increased by 0.37 percentage points | | Weighted Average Return on Net Assets Excluding Non-Recurring Gains and Losses (%) | 0.09 | -0.30 | Increased by 0.39 percentage points | | R&D Investment as a Percentage of Operating Revenue (%) | 10.64 | 22.48 | Decreased by 11.84 percentage points | - Operating revenue growth is primarily due to increased orders in the military industry and significant market expansion achievements[21] - Total profit and net profit turned profitable, mainly benefiting from increased operating revenue and improved gross margin in testing services[21] - Net cash flow from operating activities decreased, mainly due to reduced sales collections and maturing commercial bills in the current period[22] Non-Recurring Gains and Losses Items and Amounts During the reporting period, the company's total non-recurring gains and losses amounted to 2.108 million yuan, primarily from government subsidies recognized in current profit or loss Non-Recurring Gains and Losses Items and Amounts | Non-Recurring Gains and Losses Item | Amount (yuan) | | :--- | :--- | | Gains and losses from disposal of non-current assets | -1,273.32 | | Government subsidies recognized in current profit or loss | 2,484,615.33 | | Other non-operating income and expenses | -2,481.02 | | Less: Income tax impact | 372,800.00 | | Impact on minority interests (after tax) | -71.47 | | Total | 2,108,132.46 | Management Discussion and Analysis This section provides an in-depth analysis of the company's industry, operations, core competencies, risk factors, and key financial performance during the reporting period Explanation of the Company's Industry and Main Business During the Reporting Period The company's main business is in the testing services industry, focusing on military electronic component reliability and equipment environmental testing, supported by national policies and a growing market Company's Industry Overview The testing services industry, a strategic emerging sector, enjoys strong national policy support and continuous market growth, with military electronic component reliability testing as a core business - The company's main business falls under "M Scientific Research and Technical Services," specifically "74 Professional Technical Services," "745 Quality Inspection Technical Services," and "7452 Testing Services," which is a nationally encouraged strategic emerging industry[27][28] - As of the end of 2024, China had nearly 54,000 testing institutions, with annual revenue of 487.597 billion yuan, a year-on-year increase of 4.41%[28] - Continuous growth in defense spending (2025 budget of 1.81 trillion yuan, a 7.2% increase), rising proportion of weapon and equipment expenditures, and increased investment in national defense informatization provide a broad market for military electronic component testing[34][35] - Industry trends include the expanding market for third-party military electronic component reliability testing, increasing testing content, and the development of more refined and high-end testing technologies[36][38] Company's Main Business Operations The company specializes in military electronic component reliability testing and equipment environmental testing, offering comprehensive services and holding 2,580 CNAS and DILAC accredited testing items - The company's main business includes electronic component testing and reliability screening, environmental testing, destructive physical analysis (DPA), failure analysis, and reliability management technical support[39] - As of June 30, 2025, the company had a total of 2,580 testing items or parameters accredited by CNAS and DILAC, a year-on-year increase of 28.7%[40] - The company's main customers are subsidiaries of military industrial groups and supporting electronic manufacturers, with products applied in nuclear, aerospace, aviation, shipbuilding, weaponry, and electronics military fields[40] - The company's operating model is primarily based on independent research and development, possessing over 46,000 sets of testing procedures and over 26,000 sets of testing adapters[55][56] - The sales model is direct sales, acquiring orders through invited tenders and competitive negotiations, with major customers being subsidiaries of military industrial groups and supporting electronic component manufacturers[62] Discussion and Analysis of Operations During the reporting period, the company deepened its core business, expanded into new areas like environmental reliability testing, advanced R&D, strengthened market development, and improved quality management, achieving 101 million yuan in operating revenue and 3.58 million yuan in net profit attributable to parent company shareholders Key Operating Data for Jan-Jun 2025 | Indicator | Amount (CNY 10,000) | Year-on-Year Growth (%) | | :--- | :--- | :--- | | Operating Revenue | 10,099.72 | 81.67 | | Net Profit Attributable to Parent Company Shareholders | 358.42 | Increased by 605.30 CNY 10,000 | - The company continuously promotes R&D technological progress, focusing on domestic substitution, increasing research and reserves in high-end chip testing technology, and expanding into new fields such as environmental reliability testing, EMC, and automotive electronics[66][67] - During the reporting period, the company added several new clients, including research institutes and well-known enterprises under major aerospace, aviation, and weaponry military industrial groups, continuously expanding its market reach[68] - The company continuously improves quality management through "Quality Review Meetings" and employee training, and has recruited several high-tech talents, enhancing its incentive mechanisms[68] Analysis of Core Competencies The company's core competencies include advanced reliability testing technology, a professional team, efficient service, and high market recognition, with significant R&D progress and 96 R&D personnel Core Competitiveness Analysis The company leads in military electronic component testing with advanced technology, a professional team, efficient service, and high market recognition, boasting 2,580 accredited testing items and 292 software copyrights - The company possesses 2,580 testing items accredited by CNAS and DILAC, a year-on-year increase of 28.7%, positioning it as a leader among private testing institutions[70] - The company owns over 46,000 sets of test program software and over 26,000 sets of test adapters, with test program quantity increasing by 17.9% and test adapter quantity by 8.3% year-on-year[70] - The company holds 292 software copyrights and 90 patents (including 39 invention patents), with its patent count leading among private testing institutions in the industry[70] - The company's core technical personnel have over 20 years of experience in military electronics research and development, and the management team is highly experienced[71] - The company has established a market presence centered in Chengdu, Xi'an, and Wuxi, radiating across Southwest, Northwest, East, North, South, and Northeast China, serving over 600 customers[71][72] Core Technologies and R&D Progress The company made significant R&D progress in integrated circuits, RF microwave, discrete devices, DPA, and environmental reliability testing, investing 10.746 million yuan in R&D, representing 10.64% of operating revenue, with 96 R&D personnel - In integrated circuit testing technology, the company achieved 100ps-level dynamic parameter detection capability for parallel multi-site, enhanced AD/DA full-parameter detection capability to 108dB signal-to-noise ratio, and added heterogeneous integrated SIP chip detection capability (up to 1600Pin) and Virtex-7 series FPGA detection capability[73] - RF microwave reliability testing technology covers a frequency range up to 9KHz～50GHz, reaching advanced domestic levels[75] - DPA technology improved analysis capabilities for MEMS sensors and multi-chip modules, optimized flip-chip decapsulation technology, and established energy spectrum analysis technology[75] - Environmental reliability testing technology added capabilities such as space-borne payload testing and thermal vacuum experiments, and possesses multiple core technologies including "intelligent evaluation technology for mold testing results"[76][77] R&D Investment Overview | Indicator | Current Period Amount (yuan) | Prior Year Period Amount (yuan) | Change (%) | | :--- | :--- | :--- | :--- | | Expensed R&D Investment | 10,745,799.18 | 12,498,270.16 | -14.02 | | Total R&D Investment as a Percentage of Operating Revenue (%) | 10.64 | 22.48 | Decreased by 11.84 percentage points | R&D Personnel Overview | Indicator | Current Period Number | Prior Year Period Number | | :--- | :--- | :--- | | Number of Company R&D Personnel (persons) | 96 | 96 | | R&D Personnel as a Percentage of Total Company Staff (%) | 17.58 | 18.11 | | Total R&D Personnel Compensation (CNY 10,000) | 701.17 | 791.07 | | Average R&D Personnel Compensation (CNY 10,000) | 7.49 | 8.18 | Risk Factors The company faces various risks, including performance decline, R&D and technology leakage, major quality incidents, talent loss, management challenges from business expansion, intensified market competition, declining gross margins, high accounts receivable, industry qualification and policy changes, and macroeconomic environment shifts - The company faces risks of performance decline or loss due to increased costs from equipment investment and factory leases, as well as delayed or reduced orders from adjustments in the downstream military industry and intensified market competition[90] - Technology R&D risks include failure to keep pace with the latest technological developments, increased R&D difficulty, and R&D failures; technology leakage risks stem from the loss of core technical personnel or disclosure of confidential information[91][92] - The company faces the risk of major reliability testing quality incidents, which could impact its credibility, brand, and business operations[93] - The knowledge-intensive industry experiences fierce competition for talent, posing a risk that the company may struggle to continuously attract excellent talent or retain core technical personnel[94] - The company's gross margin faces a risk of decline, mainly influenced by factors such as increased bargaining power of downstream customers, continuous iteration of testing technologies, and intensified market competition[97][98] - As of June 30, 2025, the company's book value of notes receivable was 29.9348 million yuan, and accounts receivable was 196.3889 million yuan, posing a risk of large balances and long collection cycles leading to bad debts[98] - Industry risks include military product market access qualifications not being obtained or renewed in a timely manner, and delays or reductions in orders due to continuous adjustments in the military industry; macroeconomic environment risks include changes in defense policies and upgrades to national military standards[99][100] Key Operating Performance During the Reporting Period During the reporting period, the company's operating revenue and net profit grew significantly due to increased military orders and market expansion, with notable changes in asset and liability structure and a substantial increase in equity investments Main Business Analysis The company's main business revenue and profit grew significantly due to increased military orders and market expansion, with improved gross margins in testing services, but net cash flow from operating activities decreased Financial Statement Item Variation Analysis (Jan-Jun 2025 vs. Prior Year Period) | Item | Current Period Amount (yuan) | Prior Year Period Amount (yuan) | Change (%) | | :--- | :--- | :--- | :--- | | Operating Revenue | 100,997,222.77 | 55,593,342.63 | 81.67 | | Operating Cost | 55,306,208.96 | 34,097,537.78 | 62.20 | | Selling Expenses | 6,257,840.74 | 9,752,503.46 | -35.83 | | Financial Expenses | 321,952.37 | -1,044,250.37 | Not Applicable | | R&D Expenses | 10,745,799.18 | 12,498,270.16 | -14.02 | | Net Cash Flow from Operating Activities | 9,943,456.34 | 46,172,332.12 | -78.46 | | Net Cash Flow from Investing Activities | 7,310,067.93 | -20,870,603.56 | Not Applicable | | Net Cash Flow from Financing Activities | 1,012,095.75 | -47,180,403.29 | Not Applicable | - Operating revenue increased by 81.67%, mainly due to increased orders in the military industry and effective market expansion[104] - Total profit and net profit attributable to shareholders of the listed company turned profitable, primarily due to increased operating revenue and improved gross margin in testing services[21] - Net cash flow from operating activities decreased by 78.46%, mainly due to reduced sales collections and maturing commercial bills[104] Analysis of Assets and Liabilities At the end of the reporting period, total assets were 1.798 billion yuan and total liabilities were 146 million yuan, with significant changes across various asset and liability items Asset and Liability Status Changes (Period-end vs. Prior Year-end) | Item Name | Current Period-end Amount (yuan) | Prior Year-end Amount (yuan) | Change (%) | Explanation | | :--- | :--- | :--- | :--- | :--- | | Notes Receivable | 29,934,840.28 | 51,862,503.47 | -42.28 | Commercial acceptance bills received at prior period-end matured and were cashed in current period | | Prepayments | 5,207,222.90 | 2,819,681.48 | 84.67 | Increased prepayments to suppliers | | Other Receivables | 3,818,595.96 | 2,562,833.11 | 49.00 | New bid deposits in current period | | Construction in Progress | 3,301,303.46 | 1,650,443.51 | 100.03 | Wenchang Engineering Center project for testing reliability commenced construction | | Intangible Assets | 34,369,294.22 | 10,883,651.32 | 215.79 | Hainan Guoxing Feice obtained state-owned construction land use rights in current period | | Notes Payable | 1,632,595.85 | 2,557,537.22 | -36.17 | Notes payable at prior period-end were paid in current period | | Contract Liabilities | - | 283,018.87 | -100.00 | Contract performance obligations completed, transferred to revenue | | Employee Benefits Payable | 5,392,609.60 | 11,601,220.40 | -53.52 | Prior period-end balance included unpaid year-end bonuses | | Taxes Payable | 1,646,108.49 | 521,638.57 | 215.56 | Increased revenue and profit in current period led to increased related taxes | | Other Current Liabilities | - | 16,981.13 | -100.00 | Prior period-end deferred output tax transferred in current period | | Deferred Income | - | 290,000.00 | -100.00 | Deferred income fully amortized in current period | Analysis of Investment Status During the reporting period, the company's total external equity investment was 31.01 million yuan, a 1450.5% increase year-on-year, primarily for establishing Hainan Guoxing Feice Technology Co., Ltd Overall Analysis of External Equity Investments | Indicator | Investment Amount in Reporting Period (yuan) | Investment Amount in Prior Year Period (yuan) | Change | | :--- | :--- | :--- | :--- | | Total Investment Amount | 31,010,000 | 2,000,000 | 1450.5% | - The company established a new wholly-owned subsidiary, Hainan Guoxing Feice Technology Co., Ltd., with an investment of 31.01 million yuan from its own funds, primarily for testing and experimental services[109] Analysis of Major Holding and Participating Companies The company's main subsidiaries, including Jiangsu Qiwei, Xi'an Huanyuxin, Shaanxi Haice, and Hainan Guoxing Feice, all provide testing services, with Jiangsu Qiwei and Xi'an Huanyuxin profitable, while Shaanxi Haice and Hainan Guoxing Feice incurred losses Financial Status of Major Subsidiaries (Unit: CNY 10,000) | Company Name | Company Type | Main Business | Registered Capital | Total Assets | Net Assets | Operating Revenue | Operating Profit | Net Profit | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Jiangsu Qiwei Testing Technology Co., Ltd. | Subsidiary | Testing Services | 8,000 | 38,478.05 | 36,492.96 | 3,973.45 | 122.23 | 140.86 | | Xi'an Huanyuxin Microelectronics Co., Ltd. | Subsidiary | Testing Services | 2,200 | 10,561.52 | 6,425.38 | 1,722.09 | 124.03 | 127.9 | | Shaanxi Haice Electronic Technology Service Co., Ltd. | Subsidiary | Testing Services | 6,000 | 17,579.41 | 7,842.60 | 1,140.38 | -540.18 | -457.09 | | Hainan Guoxing Feice Technology Co., Ltd. | Subsidiary | Testing Services | 6,000 | 3,146.99 | 3,111.03 | - | -93.43 | -93.43 | Corporate Governance, Environment, and Society This section covers changes in the company's directors, supervisors, senior management, and core technical personnel, as well as profit distribution plans, equity incentive programs, and environmental information disclosure Changes in Company Directors, Supervisors, Senior Management, and Core Technical Personnel During the reporting period, there were no changes in the company's directors, supervisors, senior management, or core technical personnel - During the reporting period, there were no changes in the company's directors, supervisors, senior management, or core technical personnel[113] Profit Distribution or Capital Reserve Conversion Plan The company's Board of Directors resolved not to proceed with any profit distribution or capital reserve conversion to share capital for this reporting period - There is no profit distribution plan or capital reserve conversion to share capital plan for this reporting period[4] Status and Impact of Company Equity Incentive Plans, Employee Stock Ownership Plans, or Other Employee Incentive Measures The Board of Directors resolved to cancel the unvested portion of the second-class restricted shares granted under the 2023 Restricted Stock Incentive Plan - On April 25, 2025, the company's Board of Directors convened a meeting and approved the "Proposal on Cancelling the Unvested Portion of the Second-Class Restricted Shares Granted Under the 2023 Restricted Stock Incentive Plan"[114] Environmental Information of Listed Companies and Their Major Subsidiaries Included in the List of Enterprises Required to Disclose Environmental Information by Law The company is not on the list of enterprises required to disclose environmental information by law, thus relevant disclosure requirements do not apply - The company is not subject to environmental information disclosure requirements by law[116] Significant Matters This section details the fulfillment of commitments, absence of non-operating fund occupation or illegal guarantees, audit status, rectification of prior audit opinions, and other major events Fulfillment of Commitments All commitments made by the company's controlling shareholders, actual controllers, directors, supervisors, senior management, and other shareholders during the initial public offering were strictly fulfilled within the reporting period - The company's controlling shareholder, Jianshui Quanjun, and shareholder Xinyu Huanya, committed not to transfer pre-IPO shares within 36 months from the listing date, and these commitments have been strictly fulfilled in a timely manner[118][123] - The company's actual controller and chairman, Zhang Ya, committed not to transfer indirectly held pre-IPO shares within 36 months from the listing date, and this commitment has been strictly fulfilled in a timely manner[118][126] - The company and relevant parties bear legal responsibility for the truthfulness, accuracy, and completeness of information disclosed in the prospectus, and committed to initiating a share repurchase program if fraudulent issuance occurs; all related commitments have been strictly fulfilled[157][161] - The controlling shareholder and actual controller committed not to unduly interfere with the company's operations or infringe upon its interests, and to effectively implement measures to mitigate the dilution of immediate returns, all of which have been strictly fulfilled[167][168] - The controlling shareholder and actual controller committed to avoiding horizontal competition and regulating related-party transactions, both of which have been strictly fulfilled[182][184][186][188] Non-Operating Fund Occupation by Controlling Shareholders and Other Related Parties During the Reporting Period During the reporting period, there was no non-operating fund occupation by controlling shareholders or other related parties - During the reporting period, the company had no non-operating fund occupation by controlling shareholders or other related parties[5] Illegal Guarantees During the reporting period, the company did not provide any external guarantees in violation of prescribed decision-making procedures - During the reporting period, the company did not provide any external guarantees in violation of prescribed decision-making procedures[5] Semi-Annual Report Audit Status This semi-annual report has not been audited - This semi-annual report has not been audited[4] Changes and Handling of Matters Related to Non-Standard Audit Opinions in the Prior Year's Annual Report The company is under investigation by the CSRC for alleged information disclosure violations and received a rectification order and warning letter from the Sichuan Securities Regulatory Bureau, implementing multiple corrective measures - On January 17, 2025, the company received a "Notice of Case Filing" from the China Securities Regulatory Commission (CSRC) and was placed under investigation for alleged information disclosure violations[200] - On the same day, the company received a "Decision on Ordering Rectification and Issuing Warning Letters to Relevant Responsible Persons of Chengdu Screen Microelectronics Co., Ltd." from the Sichuan Securities Regulatory Bureau[200] - The company has formulated and implemented multiple rectification measures, including organizing the finance department to correct errors, improving internal controls for revenue recognition, strengthening financial personnel training, enhancing overall compliance awareness, and leveraging internal audit supervision functions[201][202] Major Litigation and Arbitration Matters During the reporting period, the company had no major litigation or arbitration matters - The company had no major litigation or arbitration matters in this reporting period[201] Alleged Violations, Penalties, and Rectification by Listed Company, Its Directors, Supervisors, Senior Management, Controlling Shareholders, and Actual Controllers The company received a rectification order and warning letter from the Sichuan Securities Regulatory Bureau for information disclosure violations and is actively implementing corrective measures to improve disclosure quality and prevent recurrence - On January 17, 2025, the company received a "Decision on Ordering Rectification and Issuing Warning Letters to Relevant Responsible Persons of Chengdu Screen Microelectronics Co., Ltd." from the Sichuan Securities Regulatory Bureau[201] - The company has organized its finance department to correct errors, retrospectively adjusting data and disclosure documents for periodic and annual reports from 2022 onwards[201] - The company has improved internal controls related to revenue recognition, strengthened control over key nodes in business processes, and organized training for financial personnel and business departments on relevant laws, regulations, and accounting standards[201] - The company has established a long-term mechanism to continuously standardize internal audit supervision functions, ensuring the professionalism, standardization, and accuracy of financial accounting, and enhancing the quality of information disclosure[202] Explanation of the Integrity Status of the Company, Its Controlling Shareholders, and Actual Controllers During the Reporting Period During the reporting period, there were no special remarks regarding the integrity status of the company, its controlling shareholders, or actual controllers, indicating no significant integrity issues - During the reporting period, there were no special remarks regarding the integrity status of the company, its controlling shareholders, or actual controllers[203] Major Related-Party Transactions During the reporting period, the company had no major related-party transactions - During the reporting period, the company had no major related-party transactions[204] Major Contracts and Their Fulfillment During the reporting period, the company had no entrustment, contracting, or leasing matters, nor any major guarantees or other significant contracts - During the reporting period, the company had no entrustment, contracting, or leasing matters[205] - During the reporting period, the company had no major guarantees[205] - During the reporting period, the company had no other major contracts[205] Explanation of Progress in Use of Raised Funds The company's IPO raised 1.2525 billion yuan net, with 647.6877 million yuan cumulatively invested by period-end (51.71% progress), including 250 million yuan of over-raised funds (39.44% progress), and 588 million yuan in idle funds for cash management Overall Use of Raised Funds | Indicator | Amount (CNY 10,000) | | :--- | :--- | | Total Raised Funds | 138,825 | | Net Raised Funds | 125,250.66 | | Total Investment Pledged in Prospectus | 61,856.41 | | Total Over-Raised Funds | 63,394.25 | | Total Raised Funds Cumulatively Invested as of Period-end | 64,768.77 | | Of which: Total Over-Raised Funds Cumulatively Invested as of Period-end | 25,000.00 | | Cumulative Investment Progress of Raised Funds as of Period-end (%) | 51.71 | | Cumulative Investment Progress of Over-Raised Funds as of Period-end (%) | 39.44 | | Amount Invested in Current Year | 12,083.15 | Detailed Use of Raised Funds for Investment Projects (Unit: CNY 10,000) | Project Name | Planned Total Investment of Raised Funds | Total Raised Funds Cumulatively Invested as of Period-end | Cumulative Investment Progress as of Period-end (%) | | :--- | :--- | :--- | :--- | | Chengdu Testing and Experiment Base Construction Project | 17,519.82 | 12,362.92 | 70.57 | | Environmental Testing Center Construction Project | 6,804.39 | 4,460.53 | 65.55 | | Wuxi Testing and Experiment Base Construction Project | 16,681.91 | 6,289.63 | 37.70 | | R&D Center Construction Project | 14,850.29 | 10,708.24 | 72.11 | | Replenishment of Working Capital | 6,000.00 | 5,947.45 | 99.12 | | Total | 61,856.41 | 39,768.77 | -- | - As of June 30, 2025, the company's balance of temporarily idle raised funds used for cash management was 588 million yuan[214] Share Changes and Shareholder Information This section details changes in the company's share capital, shareholder structure, and the shareholding status of directors, supervisors, senior management, and core technical personnel Changes in Share Capital During the reporting period, there were no changes in the company's total ordinary shares or share capital structure - During the reporting period, there were no changes in the company's total ordinary shares or share capital structure[217] Shareholder Information As of the end of the reporting period, the company had 5,164 ordinary shareholders, with controlling shareholder Jianshui Quanjun holding 54.91% of restricted shares, and He Hongmei holding 1.55% through combined accounts - As of the end of the reporting period, the total number of ordinary shareholders was 5,164[218] Top Ten Shareholders' Shareholding | Shareholder Name | Number of Shares Held at Period-end (shares) | Percentage (%) | Number of Restricted Shares Held (shares) | | :--- | :--- | :--- | :--- | | Jianshui Quanjun Enterprise Management Center (Limited Partnership) | 54,908,065 | 54.91 | 54,908,065 | | Ningbo Tongtaixin Venture Capital Partnership (Limited Partnership) | 4,610,000 | 4.61 | 0 | | Ningbo Tongyuan Youbo Venture Capital Partnership (Limited Partnership) | 2,460,000 | 2.46 | 0 | | Xinyu Huanya Nuojin Enterprise Management Co., Ltd. | 1,818,135 | 1.82 | 1,818,135 | | He Hongmei | 1,548,465 | 1.55 | 0 | | Chaos Tiancheng Futures Co., Ltd. | 1,350,527 | 1.35 | 0 | | Sichuan Development Securities Investment Fund Management Co., Ltd. - Sichuan Capital Market Relief and Development Investment Fund Partnership (Limited Partnership) | 837,837 | 0.84 | 0 | | Jiangxi Hongwei Steel Structure Engineering Co., Ltd. | 760,413 | 0.76 | 0 | | Su Gang | 576,500 | 0.58 | 0 | | Hu Lijun | 523,048 | 0.52 | 0 | - He Hongmei holds 1,548,465 shares, with 1,461,071 shares held through ordinary securities accounts and 87,394 shares through credit securities accounts[219] - The company's dedicated share repurchase account holds 1,419,877 shares, accounting for 1.42% of the company's total shares at the end of this reporting period[223] Information on Directors, Supervisors, Senior Management, and Core Technical Personnel During the reporting period, there were no changes in the shareholding or equity incentives granted to current and former directors, supervisors, senior management, and core technical personnel - During the reporting period, there were no changes in the shareholding of the company's current and former directors, supervisors, senior management, and core technical personnel[226] - During the reporting period, the company's directors, supervisors, senior management, and core technical personnel were not granted stock options, first-class restricted shares, or second-class restricted shares[226][227] [Bond-Related Information](index=78&type=section