第一节 重要提示、目录和释义 公司董事会、监事会及董事、监事、高级管理人员保证半年度报告内容的真实、准确、 完整，不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和连带的法律责任。 公司负责人周国辉、主管会计工作负责人莫京及会计机构负责人(会计主管人员)蒋佑 星声明：保证本半年度报告中财务报告的真实、准确、完整。 深圳市怡亚通供应链股份有限公司 2025 年半年度报告 2025 年 8 月 1 深圳市怡亚通供应链股份有限公司 2025 年半年度报告全文 深圳市怡亚通供应链股份有限公司 2025 年半年度报告全文 2 | 第一节 | 重要提示、目录和释义 | | 2 | | --- | --- | --- | --- | | 第二节 | 公司简介和主要财务指标 | | 6 | | 第三节 | 管理层讨论与分析 | | 9 | | 第四节 | 公司治理、环境和社会 | | 33 | | 第五节 | 重要事项 | | 39 | | 第六节 | 股份变动及股东情况 | | 79 | | 第七节 | 债券相关情况 | | 84 | | 第八节 | 财务报告 | | 92 | | 第九节 | 其他报送数据 | | 27 ...

[Important Notice, Table of Contents, and Definitions](index=2&type=section&id=%E7%AC%AC%E4%B8%80%E8%8A%82%20%E9%87%8D%E8%A6%81%E6%8F%90%E7%A4%BA%E3%80%81%E7%9B%AE%E5%BD%95%E5%92%8C%E9%87%8A%E4%B9%89) This section provides essential preliminary information, including the table of contents and definitions, ensuring clarity and accountability for the semi-annual report [Important Notice](index=2&type=section&id=%E9%87%8D%E8%A6%81%E6%8F%90%E7%A4%BA) The company's board and senior management guarantee the semi-annual report's truthfulness and completeness, with no plans for cash dividends or bonus shares - The company's board of directors and senior management guarantee the truthfulness, accuracy, and completeness of the semi-annual report, assuming legal responsibility[4](index=4&type=chunk) - Company head Yang Jinsong, chief accountant Ma Li, and head of accounting department Ma Li declare the financial report in this semi-annual report is true, accurate, and complete[4](index=4&type=chunk) - The company plans not to distribute cash dividends, bonus shares, or convert capital reserves into share capital[5](index=5&type=chunk) [Table of Contents](index=3&type=section&id=%E7%9B%AE%E5%BD%95) The report's clear table of contents is divided into eight main chapters, covering key areas from company profile to financial reports - The report's table of contents includes eight main chapters, clearly structured for easy reference[7](index=7&type=chunk) [List of Reference Documents](index=4&type=section&id=%E5%A4%87%E6%9F%A5%E6%96%87%E4%BB%B6%E7%9B%AE%E5%BD%95) The list of reference documents includes signed financial statements, original disclosed company files, and semi-annual reports, all available at the board office - Reference documents include signed and sealed financial statements, original publicly disclosed documents, and original semi-annual report texts and summaries[9](index=9&type=chunk)[10](index=10&type=chunk)[11](index=11&type=chunk) - All filed documents are kept in the company's board of directors' office[13](index=13&type=chunk) [Definitions](index=5&type=section&id=%E9%87%8A%E4%B9%89) This section defines common terms used in the report, including company name, related parties, and regulatory bodies, for accurate understanding - The definitions section clarifies key terms such as company, related parties, regulatory bodies, laws and regulations, and the reporting period[14](index=14&type=chunk) [Company Profile and Key Financial Indicators](index=6&type=section&id=%E7%AC%AC%E4%BA%8C%E8%8A%82%20%E5%85%AC%E5%8F%B8%E7%AE%80%E4%BB%8B%E5%92%8C%E4%B8%BB%E8%A6%81%E8%B4%A2%E5%8A%A1%E6%8C%87%E6%A0%87) This section provides an overview of the company's fundamental information and presents its key financial performance metrics and indicators [Company Profile](index=6&type=section&id=%E4%B8%80%E3%80%81%E5%85%AC%E5%8F%B8%E7%AE%80%E4%BB%8B) Kunming Shipbuilding Equipment Co., Ltd., stock code 301311, is listed on the Shenzhen Stock Exchange, with no changes in registered address, office address, contact information, or information disclosure location during the reporting period - The company's stock abbreviation is "Kunming Shipbuilding Equipment", stock code **301311**, listed on the Shenzhen Stock Exchange[16](index=16&type=chunk) - During the reporting period, there were no changes in the company's registered address, office address, contact information, or information disclosure location[18](index=18&type=chunk)[19](index=19&type=chunk)[20](index=20&type=chunk)[21](index=21&type=chunk) [Key Accounting Data and Financial Indicators](index=7&type=section&id=%E5%9B%9B%E3%80%81%E4%B8%BB%E8%A6%81%E4%BC%9A%E8%AE%A1%E6%95%B0%E6%8D%AE%E5%92%8C%E8%B4%A2%E5%8A%A1%E6%8C%87%E6%A0%87) The company's semi-annual operating revenue increased by 24.38%, and net profit attributable to shareholders rose by 10.79%, despite a decrease in total assets and net assets attributable to shareholders, with accounting policy changes leading to retrospective adjustments in sales expenses and operating costs Key Accounting Data and Financial Indicators for H1 2025 | Indicator | Current Reporting Period (CNY) | Prior Year (Adjusted) (CNY) | Change from Prior Year | | :--- | :--- | :--- | :--- | | Operating Revenue | 1,095,380,656.18 | 880,690,195.73 | 24.38% | | Net Profit Attributable to Shareholders of Listed Company | -24,231,060.06 | -27,160,688.34 | 10.79% | | Net Profit Attributable to Shareholders of Listed Company (Excluding Non-Recurring Gains and Losses) | -24,642,517.62 | -26,536,135.05 | 7.14% | | Net Cash Flow from Operating Activities | -472,962,476.63 | -483,654,370.03 | 2.21% | | Basic Earnings Per Share (CNY/share) | -0.10 | -0.11 | 9.09% | | Diluted Earnings Per Share (CNY/share) | -0.10 | -0.11 | 9.09% | | Weighted Average Return on Net Assets | -1.33% | -1.48% | 0.15% | | **Period-End Indicators** | **End of Current Reporting Period (CNY)** | **End of Prior Year (Adjusted) (CNY)** | **Change from Prior Year-End** | | Total Assets | 4,218,786,718.39 | 4,806,720,743.59 | -12.23% | | Net Assets Attributable to Shareholders of Listed Company | 1,806,296,086.72 | 1,842,710,821.46 | -1.98% | - Due to the implementation of "Interpretation No. 18 of Accounting Standards for Business Enterprises", the company reclassified after-sales service fees from "sales expenses" to "operating costs", resulting in a **decrease of 3.65 million CNY in sales expenses** and an **increase of 3.65 million CNY in operating costs** for January-June 2024[22](index=22&type=chunk) [Differences in Accounting Data under Domestic and Overseas Accounting Standards](index=7&type=section&id=%E4%BA%94%E3%80%81%E5%A2%83%E5%86%85%E5%A4%96%E4%BC%9A%E8%AE%A1%E5%87%86%E5%88%99%E4%B8%8B%E4%BC%9A%E8%AE%A1%E6%95%B0%E6%8D%AE%E5%B7%AE%E5%BC%82) The company reported no differences in net profit and net assets between financial reports prepared under international or overseas accounting standards and Chinese accounting standards during the reporting period - During the reporting period, the company reported no differences in net profit and net assets between financial reports disclosed under International Accounting Standards and Chinese Accounting Standards[23](index=23&type=chunk) - During the reporting period, the company reported no differences in net profit and net assets between financial reports disclosed under overseas accounting standards and Chinese Accounting Standards[24](index=24&type=chunk) [Non-Recurring Gains and Losses and Amounts](index=8&type=section&id=%E5%85%AD%E3%80%81%E9%9D%9E%E5%B8%B8%E9%87%91%E6%80%A7%E6%8D%9F%E7%9B%8A%E9%A1%B9%E7%9B%AE%E5%8F%8A%E9%87%91%E9%A2%9D) The company's total non-recurring gains and losses for the reporting period amounted to 0.41 million CNY, primarily from government subsidies and non-operating income like liquidated damages, after deducting income tax effects Non-Recurring Gains and Losses and Amounts | Item | Amount (CNY) | Explanation | | :--- | :--- | :--- | | Government Subsidies Recognized in Current Profit or Loss | 235,292.16 | Mainly employment stabilization subsidies and government awards during the reporting period | | Other Non-Operating Income and Expenses Apart from the Above | 206,962.83 | Mainly liquidated damages received and late payment fees paid during the reporting period | | Less: Income Tax Impact | 30,797.43 | | | Total | 411,457.56 | | [Management Discussion and Analysis](index=9&type=section&id=%E7%AC%AC%E4%B8%89%E8%8A%82%20%E7%AE%A1%E7%90%86%E5%B1%82%E8%AE%A8%E8%AE%BA%E4%B8%8E%E5%88%86%E6%9E%90) This section provides a comprehensive analysis of the company's operations, financial condition, and future outlook, as discussed by management [Main Business Activities During the Reporting Period](index=9&type=section&id=%E4%B8%80%E3%80%81%E6%8A%A5%E5%91%8A%E6%9C%9F%E5%86%85%E5%85%AC%E5%8F%B8%E4%BB%8E%E4%BA%8B%E7%9A%84%E4%B8%BB%E8%A6%81%E4%B8%9A%E5%8A%A1) The company specializes in intelligent logistics and smart production line systems, offering planning, R&D, design, manufacturing, implementation, and O&M services, maintaining a leading position in the industry driven by favorable policies, market demand, and technological innovation - The company primarily engages in the planning, R&D, design, production, implementation, and operation and maintenance of intelligent logistics and smart production lines, with products and technologies belonging to the field of intelligent logistics equipment[28](index=28&type=chunk) - National policies such as the "14th Five-Year Plan for Digital Economy Development" and the "14th Five-Year Plan for Modern Logistics Development" continue to favor the development of the intelligent logistics and smart manufacturing industries[28](index=28&type=chunk) - The company ranked **third** among China's logistics and warehousing automation suppliers in 2021 and provides full-chain production line systems in the tobacco smart production line sector[32](index=32&type=chunk) [(I) Industry Development Overview](index=9&type=section&id=%28%E4%B8%80%29%20%E8%A1%8C%E4%B8%9A%E5%8F%91%E5%B1%95%E6%83%85%E5%86%B5) The intelligent logistics and smart manufacturing industries are thriving due to supportive national policies, expanding market demand, and rapid technological innovation, with the company maintaining a strong market position - National policies, including the "14th Five-Year Plan for Digital Economy Development" and "14th Five-Year Plan for Modern Logistics Development", continue to benefit the intelligent logistics and smart manufacturing industries, clarifying their development direction[28](index=28&type=chunk) - The intelligent logistics market continues to expand, with strong demand particularly in automotive, new energy, tires, high-speed rail, aircraft, electronics, chemicals, and biomedicine, as well as in e-commerce[29](index=29&type=chunk) - The company ranked **third** among China's logistics and warehousing automation suppliers in 2021 and provides full-chain production line systems in the tobacco smart production line sector[32](index=32&type=chunk) [(II) Main Business Activities During the Reporting Period](index=10&type=section&id=%28%E4%BA%8C%29%20%E6%8A%A5%E5%91%8A%E6%9C%9F%E5%86%85%E5%85%AC%E5%8F%B8%E4%BB%8E%E4%BA%8B%E7%9A%84%E4%B8%BB%E8%A6%81%E4%B8%9A%E5%8A%A1%E6%83%85%E5%86%B5) The company's main business encompasses intelligent logistics and production line systems, O&M, and specialized products, leveraging its tobacco industry expertise to expand into other sectors with proprietary solutions - The company's main business includes four major areas: intelligent logistics systems and equipment, smart production line systems and equipment, operation and maintenance and spare parts, and specialized products and related services[34](index=34&type=chunk) - The company possesses full-chain integrated solution capabilities from production line systems to logistics systems in the tobacco industry, and has successfully applied its technology and experience to other sectors such as liquor, military, energy, and chemical industries[34](index=34&type=chunk)[35](index=35&type=chunk) [(III) Company's Main Products and Applications](index=11&type=section&id=%28%E4%B8%89%29%20%E5%85%AC%E5%8F%B8%E4%B8%BB%E8%A6%81%E4%BA%A7%E5%93%81%E5%8F%8A%E7%94%A8%E9%80%94) The company's main products include intelligent logistics and production line systems, O&M, and specialized products, with a focus on automated warehousing, conveying, sorting, and smart manufacturing solutions, particularly in the tobacco industry and expanding to others - Intelligent logistics systems primarily consist of automated storage and retrieval systems, handling and conveying systems, sorting and distribution systems, and related control systems, achieving full-process automation, informatization, and intelligence of materials[36](index=36&type=chunk) - The company's self-developed full-specification smart cigarette carton sorting system addresses issues of varying specifications, diverse packaging, and discrete orders, enabling automatic carton opening and sorting for all cigarette specifications on a single line[39](index=39&type=chunk) - Smart production line systems, originating from the tobacco industry, provide leaf-re-drying lines, primary processing lines, and wrapping and packing integration systems, successfully extending to the pharmaceutical industry[48](index=48&type=chunk)[52](index=52&type=chunk) - The company's self-developed intelligent shredding and drying machines adopt new processes and technologies to achieve refined and intelligent control, featuring full 3D display models and intelligent diagnostic warning technology[54](index=54&type=chunk)[55](index=55&type=chunk) - Operation and maintenance and spare parts services include annual maintenance, emergency repairs, system upgrades, major equipment overhauls and adjustments, spare parts supply and replacement, and operator training[59](index=59&type=chunk) [1. Intelligent Logistics Systems and Equipment](index=11&type=section&id=1%E3%80%81%E6%99%BA%E8%83%BD%E7%89%A9%E6%B5%81%E7%B3%BB%E7%BB%9F%E5%8F%8A%E8%A3%85%E5%A4%87) Intelligent logistics systems encompass automated storage, handling, conveying, and sorting solutions, along with core equipment like stacker cranes, AGVs, and RGV, all featuring proprietary R&D and intelligent functionalities - Intelligent logistics systems consist of automated storage and retrieval systems, handling and conveying systems, sorting and distribution systems, and related control systems, achieving full-process automation, informatization, and intelligence of materials[36](index=36&type=chunk) - The company's self-developed full-specification smart cigarette carton sorting system addresses issues of varying specifications, diverse packaging, and discrete orders, enabling automatic carton opening and sorting for all cigarette specifications on a single line[39](index=39&type=chunk) - The company has developed over **30 types of stacker crane products**, widely applied in various complex process environments for automated material storage[41](index=41&type=chunk) - The company's AGV products possess complete independent intellectual property core technology, were awarded the "Yunnan Famous Brand" title, and continuously optimize the ATIS5.0 mobile robot control system software platform[42](index=42&type=chunk) - The company has developed over **30 types of RGV products**, widely applied in numerous industries such as tobacco, liquor, pharmaceuticals, and express e-commerce[43](index=43&type=chunk) - The company's software and automation control products integrate various sensing and information identification technologies to achieve real-time synchronous transmission of logistics and information flows, completing the development of the TIMMS.EMMS logistics equipment operation and maintenance management system in 2024[44](index=44&type=chunk)[45](index=45&type=chunk) [2. Smart Production Line Systems and Equipment](index=13&type=section&id=2%E3%80%81%E6%99%BA%E8%83%BD%E4%BA%A7%E7%BA%BF%E7%B3%BB%E7%BB%9F%E5%8F%8A%E8%A3%85%E5%A4%87) Smart production line systems integrate automated machinery with software control for intelligent manufacturing, with the company providing full-chain solutions for the tobacco industry, including advanced shredding and drying machines, and expanding into new areas like battery plate production - The company's smart production lines, originating from the tobacco industry, provide full-chain solutions such as leaf-re-drying lines, primary processing lines, and wrapping and packing integration systems, successfully extending to the pharmaceutical industry[48](index=48&type=chunk)[52](index=52&type=chunk) - The company's self-developed intelligent shredding machine for primary processing lines achieves a stem shredding capacity of **3,000 kg/h** and a leaf shredding capacity of **9,600 kg/h**, utilizing new processes and technologies for refined and intelligent control[54](index=54&type=chunk) - The company's self-developed intelligent drying machine features high-precision control and intelligent diagnostic warning technology, equipped with a full 3D display model to enhance operational convenience and equipment reliability[55](index=55&type=chunk) - In 2024, the company developed a large-scale aluminum-based lead-carbon energy storage battery plate automated production line, achieving a technological breakthrough from scratch and forming a system solution for automated battery grid production lines[57](index=57&type=chunk) - The company developed the process and key equipment for automatic opening lines for bagged tobacco stems, forming core technologies such as fully automatic depalletizing, bag cutting, material pouring, and material-bag separation, addressing challenges of high manual feeding intensity and dust hazards in the working environment[57](index=57&type=chunk) [3. Operation and Maintenance and Spare Parts](index=14&type=section&id=3%E3%80%81%E8%BF%90%E8%90%A5%E7%BB%B4%E6%8A%A4%E5%8F%8A%E5%A4%87%E5%93%81%E5%A4%87%E4%BB%B6) The company provides comprehensive O&M and spare parts services, including annual maintenance, emergency repairs, system upgrades, and personnel training, supported by a professional service network for rapid and customized responses - Operation and maintenance and spare parts services include annual maintenance, emergency repairs, system upgrades, major equipment overhauls and adjustments, spare parts supply and replacement, and operator training[59](index=59&type=chunk) - The company has a comprehensive operation and maintenance system, with multiple regional service centers nationwide supported by its branches, enabling rapid response and personalized, customized O&M services[59](index=59&type=chunk) [4. Specialized Products and Related Services](index=15&type=section&id=4%E3%80%81%E4%B8%93%E9%A1%B9%E4%BA%A7%E5%93%81%E5%8F%8A%E7%9B%B8%E5%85%B3%E6%9C%8D%E5%8A%A1) The company undertakes the production, testing, and after-sales service of specialized products to meet specific customer order requirements - The company undertakes the production, testing, and after-sales service of specialized products[61](index=61&type=chunk) [(IV) Main Business Model](index=15&type=section&id=%28%E5%9B%9B%29%20%E4%B8%BB%E8%A6%81%E7%BB%8F%E8%90%A5%E6%A8%A1%E5%BC%8F) The company operates with an independent R&D, procurement, production, and sales system, primarily generating revenue from intelligent logistics and production line solutions, utilizing a "production-to-order" approach and direct sales, often through competitive bidding - The company possesses an independent and complete R&D, procurement, production, and sales system, conducting its production and operation activities independently[62](index=62&type=chunk) - The profit model primarily involves providing integrated solutions for intelligent logistics and smart production lines, along with subsequent operation and maintenance services[63](index=63&type=chunk)[64](index=64&type=chunk) - The procurement model combines inventory purchasing for general materials with order-based customized procurement, leveraging China State Shipbuilding Corporation's centralized procurement platform for economies of scale and bargaining power[66](index=66&type=chunk) - The production model primarily adopts "production-to-order", divided into integrated system solutions and standalone equipment and software production[67](index=67&type=chunk) - The sales model primarily uses direct sales, with public bidding often used for state-owned enterprises and military-political departments, and invited bidding for non-state-owned enterprises[70](index=70&type=chunk) [(V) Overview of Operating Performance During the Reporting Period](index=16&type=section&id=%28%E4%BA%94%29%20%E6%8A%A5%E5%91%8A%E6%9C%9F%E5%86%85%E7%BB%8F%E8%90%A5%E4%B8%9A%E7%BB%A9%E6%A6%82%E8%BF%B0) In H1 2025, the company's operating revenue grew by 24.38% to 1.095 billion CNY, with net profit increasing by 10.79% to -24.23 million CNY, driven by refined management, improved efficiency, and cost control Operating Performance for H1 2025 | Indicator | Amount (million CNY) | Year-on-Year Growth | | :--- | :--- | :--- | | Operating Revenue | 1,095.38 | 24.38% | | Total Profit | -21.37 | 5.02% | | Net Profit | -24.23 | 10.79% | - The increase in profit is primarily attributed to the company's continuous advancement of refined management, improved operational efficiency, shortened project implementation cycles, and reduced costs and expenses[72](index=72&type=chunk) - The company will maintain stable operating performance by optimizing marketing strategies, strengthening operational management, and enhancing cost control measures[73](index=73&type=chunk)[74](index=74&type=chunk)[75](index=75&type=chunk) [Core Competitiveness Analysis](index=17&type=section&id=%E4%BA%8C%E3%80%81%E6%A0%B8%E5%BF%83%E7%AB%9E%E4%BA%89%E5%8A%9B%E5%88%86%E6%9E%90) The company's core competitiveness stems from its strong technological innovation, comprehensive one-stop solutions, robust system integration capabilities, established brand image, extensive R&D strength, stable operational strategy, and critical industry access permits - The company holds **234 authorized invention patents** and **410 utility model patents**, has led or participated in the formulation of **26 national and industry standards**, with its core technologies at a leading domestic level[76](index=76&type=chunk) - The company possesses the capability to provide full-chain integrated solutions for intelligent logistics and smart production lines to customers across various industries, covering one-stop services including consulting, planning, solution design, system integration, equipment R&D and manufacturing, installation and commissioning, and after-sales service[77](index=77&type=chunk) - Leveraging its advantage in providing full-chain integrated solutions, the company possesses strong system integration capabilities, offering customized system integration or standalone core technical equipment, software, and control systems to clients[78](index=78&type=chunk) - The company holds significant advantages in the tobacco industry and has established a strong reputation and brand image in multiple sectors such as military, liquor, food, and 3C, building a base of high-quality customer resources[79](index=79&type=chunk) - The company places high importance on innovation and R&D, with **590 R&D personnel**, accounting for **34.26% of its total employees**, forming a core technical team covering system planning, core equipment design, system integration, software R&D, and equipment control[80](index=80&type=chunk) - The company's operational strategy is clear, and its core management and technical teams are stable and experienced, laying a solid foundation for the company's sustained development[82](index=82&type=chunk) - The company holds access advantages in critical industry sectors such as tobacco monopoly machinery and military-industrial manufacturing[83](index=83&type=chunk) - The company continuously deepens reforms, promotes digital empowerment in marketing, production, management, and R&D, forming a new organizational structure to adapt to diverse market and customer demands[84](index=84&type=chunk) [Main Business Analysis](index=18&type=section&id=%E4%B8%89%E3%80%81%E4%B8%BB%E8%90%A5%E4%B8%9A%E5%8A%A1%E5%88%86%E6%9E%90) The company's main business revenue reached 1.095 billion CNY, a 24.38% increase, driven by more projects meeting revenue recognition criteria, while operating costs rose by 30.59%, and sales and administrative expenses decreased, with significant revenue growth in smart production lines and specialized products Year-on-Year Changes in Key Financial Data | Indicator | Current Reporting Period (CNY) | Prior Year (CNY) | Year-on-Year Change | Reason for Change | | :--- | :--- | :--- | :--- | :--- | | Operating Revenue | 1,095,380,656.18 | 880,690,195.73 | 24.38% | Increase in projects meeting revenue recognition criteria | | Operating Cost | 1,000,067,644.42 | 765,833,335.51 | 30.59% | Increase in revenue, corresponding increase in costs | | Sales Expenses | 16,945,778.53 | 27,962,534.02 | -39.40% | Decrease in employee compensation | | Administrative Expenses | 46,008,957.15 | 56,922,027.23 | -19.17% | | | Financial Expenses | 3,254,154.28 | 423,368.84 | 668.63% | Received loan interest subsidy in the prior year | | Income Tax Expense | 2,865,470.51 | 4,665,351.18 | -38.58% | Adjustment of R&D super deduction amount in the prior year | | Net Cash Flow from Operating Activities | -472,962,476.63 | -483,654,370.03 | 2.21% | | | Net Cash Flow from Investing Activities | 505,065.59 | -300,710.00 | 267.96% | Received investment income from associates | | Net Cash Flow from Financing Activities | -6,311,633.86 | -6,512,738.58 | 3.09% | | | Net Increase in Cash and Cash Equivalents | -478,769,044.90 | -490,467,818.61 | 2.39% | | Products or Services Accounting for Over 10% of Revenue | By Product or Service | Operating Revenue (CNY) | Operating Cost (CNY) | Gross Margin | Change in Operating Revenue Year-on-Year | Change in Operating Cost Year-on-Year | Change in Gross Margin Year-on-Year | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Intelligent Logistics Systems and Equipment | 391,218,298.85 | 384,626,944.85 | 1.68% | -4.66% | -0.97% | -3.66% | | Smart Production Line Systems and Equipment | 387,782,497.48 | 335,417,533.23 | 13.50% | 50.69% | 50.59% | 0.05% | | Specialized Products and Related Services | 289,089,036.76 | 258,396,914.05 | 10.62% | 62.47% | 86.44% | -11.49% | - There were no significant changes in the company's profit composition or sources of profit during the reporting period[87](index=87&type=chunk) [Non-Core Business Analysis](index=19&type=section&id=%E5%9B%9B%E3%80%81%E9%9D%9E%E4%B8%BB%E8%90%A5%E4%B8%9A%E5%8A%A1%E5%88%86%E6%9E%90) The company's non-core business primarily includes sustainable investment income from associates and asset impairment, while non-operating income, mainly from liquidated damages, is not sustainable Non-Core Business Analysis | Item | Amount (CNY) | Percentage of Total Profit | Explanation of Formation | Sustainability | | :--- | :--- | :--- | :--- | :--- | | Investment Income | 50,498.49 | -0.24% | Investment income from associates | Yes | | Asset Impairment | -5,302,034.99 | 24.82% | Impairment provision for contract assets and inventory write-down | Yes | | Non-Operating Income | 323,122.80 | -1.51% | Liquidated damages received during the reporting period | No | [Analysis of Assets and Liabilities](index=20&type=section&id=%E4%BA%94%E3%80%81%E8%B5%84%E4%BA%A7%E5%8F%8A%E8%B4%9F%E5%80%BA%E7%8A%B6%E5%86%B5%E5%88%86%E6%9E%90) The company's total assets decreased by 12.23% to 4.219 billion CNY, with notable changes including an 8.08% decrease in monetary funds due to payments, a 6.55% increase in contract assets, and a 2.25% decrease in long-term borrowings due to reclassification Significant Changes in Asset Composition | Item | Amount at End of Current Reporting Period (CNY) | Percentage of Total Assets at End of Current Reporting Period | Amount at Prior Year-End (CNY) | Percentage of Total Assets at Prior Year-End | Change in Proportion | Explanation of Significant Change | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Monetary Funds | 649,018,080.65 | 15.38% | 1,127,787,125.55 | 23.46% | -8.08% | Payment for purchases, taxes, and prior year-end performance bonuses | | Accounts Receivable | 234,333,679.23 | 5.55% | 334,939,858.47 | 6.97% | -1.42% | Increased collection of goods payments compared to prior year | | Contract Assets | 1,142,027,945.68 | 27.07% | 986,158,215.72 | 20.52% | 6.55% | Increase in projects meeting revenue recognition criteria in the current reporting period | | Inventories | 1,310,571,130.40 | 31.07% | 1,517,004,533.91 | 31.56% | -0.49% | | | Contract Liabilities | 728,927,354.65 | 17.28% | 1,038,739,819.89 | 21.61% | -4.33% | Portion of prior year-end prepayments met revenue recognition criteria in the current reporting period | | Long-Term Borrowings | 300,000,000.00 | 7.11% | 450,000,000.00 | 9.36% | -2.25% | 150 million CNY borrowing reclassified to non-current liabilities due within one year | Asset Rights Restricted as of the End of the Reporting Period | Item | Period-End Balance (CNY) | Period-Beginning Balance (CNY) | | :--- | :--- | :--- | | Letter of Guarantee Deposit | 249,730.00 | 249,730.00 | | Notes Receivable | 16,277,021.19 | 1,790,961.47 | | Total | 16,526,751.19 | 2,040,691.47 | - During the reporting period, the company had no significant overseas assets, nor any financial assets or liabilities measured at fair value[94](index=94&type=chunk)[95](index=95&type=chunk) [Investment Status Analysis](index=21&type=section&id=%E5%85%AD%E3%80%81%E6%8A%95%E8%B5%84%E7%8A%B6%E5%86%B5%E5%88%86%E6%9E%90) The company's total investment for the reporting period was 7.77 million CNY, a 4.42% decrease, with no significant equity or non-equity investments, and the "Intelligent Equipment R&D and Production Capacity Enhancement Project" is behind schedule due to complex approval processes Investment Amount During the Reporting Period | Investment Amount in Current Reporting Period (CNY) | Investment Amount in Prior Year (CNY) | Change Rate | | :--- | :--- | :--- | | 7,771,326.11 | 8,130,878.61 | -4.42% | - During the reporting period, the company had no significant equity investments, non-equity investments, financial assets measured at fair value, wealth management products, derivative investments, or entrusted loans[97](index=97&type=chunk)[111](index=111&type=chunk)[112](index=112&type=chunk)[113](index=113&type=chunk) Overall Use of Raised Funds (As of June 30, 2025) | Total Raised Funds (million CNY) | Net Raised Funds (million CNY) | Accumulated Used Raised Funds (million CNY) | Accumulated Investment in Raised Fund Projects (million CNY) | Accumulated Supplement to Working Capital (million CNY) | Unused Raised Funds (million CNY) | | :--- | :--- | :--- | :--- | :--- | :--- | | 832.80 | 776.56 | 298.20 | 7.83 | 290.37 | 491.05 | - The "Intelligent Equipment R&D and Production Capacity Enhancement Project" is behind schedule, primarily due to complex approval processes for state-owned fixed asset investments and slow progress in optimizing internal investment structures[109](index=109&type=chunk) - The company has temporarily used **235 million CNY** of idle raised funds to supplement working capital[109](index=109&type=chunk) [Significant Asset and Equity Sales](index=25&type=section&id=%E4%B8%83%E3%80%81%E9%87%8D%E5%A4%A7%E8%B5%84%E4%BA%A7%E5%92%8C%E8%82%A1%E6%9D%83%E5%87%BA%E5%94%AE) The company did not engage in any significant asset or equity sales during the reporting period - The company did not sell any significant assets during the reporting period[114](index=114&type=chunk) - The company did not sell any significant equity during the reporting period[115](index=115&type=chunk) [Analysis of Major Holding and Associate Companies](index=26&type=section&id=%E5%85%AB%E3%80%81%E4%B8%BB%E8%A6%81%E6%8E%A7%E8%82%A1%E5%8F%82%E8%82%A1%E5%85%AC%E5%8F%B8%E5%88%86%E6%9E%90) The company's main subsidiaries include Yunnan Kunming Shipbuilding Tobacco Equipment, Yunnan Kunming Shipbuilding Intelligent Equipment, and Yunnan Kunming Shipbuilding Electronic Equipment, with the latter two reporting profits while Kunming Shipbuilding Intelligent Equipment incurred a loss, and no acquisitions or disposals of subsidiaries occurred Major Subsidiary Information (Unit: million CNY) | Company Name | Company Type | Main Business | Registered Capital | Total Assets | Net Assets | Operating Revenue | Operating Profit | Net Profit | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Yunnan Kunming Shipbuilding Tobacco Equipment Co., Ltd. | Subsidiary | Smart production line systems and equipment in the tobacco sector | 50.00 | 773.21 | 189.14 | 350.37 | 21.51 | 19.47 | | Yunnan Kunming Shipbuilding Intelligent Equipment Co., Ltd. | Subsidiary | Stacker cranes, AGVs, RGVs, and sorting machine businesses in intelligent logistics system equipment | 50.00 | 205.45 | 62.20 | 48.70 | -4.90 | -3.82 | | Yunnan Kunming Shipbuilding Electronic Equipment Co., Ltd. | Subsidiary | Control systems and related businesses in intelligent logistics and smart production lines; specialized products and related services | 69.44 | 970.70 | 313.22 | 379.55 | 19.75 | 18.00 | - The company neither acquired nor disposed of any subsidiaries during the reporting period[117](index=117&type=chunk) [Information on Structured Entities Controlled by the Company](index=26&type=section&id=%E4%B9%9D%E3%80%81%E5%85%AC%E5%8F%B8%E6%8E%A7%E5%88%B6%E7%9A%84%E7%BB%93%E6%9E%84%E5%8C%96%E4%B8%BB%E4%BD%93%E6%83%85%E5%86%B5) The company did not control any structured entities during the reporting period - The company did not control any structured entities during the reporting period[118](index=118&type=chunk) [Risks Faced by the Company and Countermeasures](index=26&type=section&id=%E5%8D%81%E3%80%81%E5%85%AC%E5%8F%B8%E9%9D%A2%E4%B8%B4%E7%9A%84%E9%A3%8E%E9%99%A9%E5%92%8C%E5%BA%94%E5%AF%B9%E6%8E%AA%E6%96%BD) The company faces strategic, financial, market, operational, and related party transaction risks, which it addresses through policy tracking, structural optimization, customer management, technological innovation, and enhanced marketing and cost control - Strategic risks include slowing macroeconomic growth, tightening or insufficient industry policies, declining fixed asset investment in downstream industries, untimely corporate reform adjustments, lagging emerging technology upgrades, or inability to grasp differences in international operations[118](index=118&type=chunk) - Measures to address strategic risks include strengthening macroeconomic environment and policy tracking, optimizing industrial structure, leveraging big data and artificial intelligence to enhance key core technology R&D, and reinforcing overseas market research[119](index=119&type=chunk) - Financial risks are primarily characterized by a significant book value of accounts receivable (including contract assets), totaling **1,376.36 million CNY** during the reporting period, accounting for **32.62% of total assets**[120](index=120&type=chunk) - Measures to address financial risks include formulating impairment provision policies for accounts receivable, optimizing customer management, strengthening accounts receivable collection and assessment, enhancing collection management, and reinforcing project cost control[121](index=121&type=chunk) - Market risks stem from high marketization and intensified competition in the industry, which the company will address by vigorously developing core technologies with independent intellectual property rights, optimizing R&D processes, continuously investing in new product R&D, and improving its marketing system[122](index=122&type=chunk) - Operational risks include quarterly fluctuations in new contracts, difficulties in cost control for newly entered industries, and uncertainties in revenue recognition due to long implementation cycles of large projects[123](index=123&type=chunk) - Measures to address operational risks include strengthening marketing and project management, strictly controlling technical solutions and economic evaluations, enhancing contract quality, and reinforcing supply chain resilience[123](index=123&type=chunk) - Risk of difficulty in significantly reducing the proportion of related party transactions: during the reporting period, related party sales amounted to **298.11 million CNY**, accounting for **27.21% of operating revenue**, and related party purchases amounted to **176.05 million CNY**, accounting for **17.60% of operating costs**[124](index=124&type=chunk) - Measures to address related party transaction risks include optimizing market marketing management to minimize unnecessary related party sales, continuously optimizing production organization models and supply chain management, and prioritizing non-related party suppliers[124](index=124&type=chunk) [Registration Form for Research, Communication, and Interview Activities During the Reporting Period](index=28&type=section&id=%E5%8D%81%E4%B8%80%E3%80%81%E6%8A%A5%E5%91%8A%E6%9C%9F%E5%86%85%E6%8E%A5%E5%BE%85%E8%B0%83%E7%A0%94%E3%80%81%E6%B2%9F%E9%80%9A%E3%80%81%E9%87%87%E8%AE%BF%E7%AD%89%E6%B4%BB%E5%8A%A8%E7%99%BB%E8%AE%B0%E8%A1%A8) During the reporting period, the company actively engaged in investor relations activities, including online performance briefings and collective investor reception days, to communicate on business objectives, R&D directions, and business expansion - On May 9, 2025, the company participated in the "2024 Annual and Q1 2025 Online Performance Briefing" to discuss future operating objectives and key R&D investment directions[125](index=125&type=chunk) - On May 16, 2025, the company participated in the "2024 Annual Yunnan Listed Companies Investor Online Collective Reception Day" to communicate on the company's operating status and business expansion[125](index=125&type=chunk) - On May 20, 2025, the company participated in the "China State Shipbuilding Corporation Holding Listed Companies 2024 Annual and Q1 2025 Collective Performance Briefing" to present its future development goals, strategies, and business plans[125](index=125&type=chunk) [Formulation and Implementation of Market Value Management System and Valuation Enhancement Plan](index=28&type=section&id=%E5%8D%81%E4%BA%8C%E3%80%81%E5%B8%82%E5%80%BC%E7%AE%A1%E7%90%86%E5%88%B6%E5%BA%A6%E5%92%8C%E4%BC%B0%E5%80%BC%E6%8F%90%E5%8D%87%E8%AE%A1%E5%88%92%E7%9A%84%E5%88%B6%E5%AE%9A%E8%90%BD%E5%AE%9E%E6%83%85%E5%86%B5) The company has adopted a "Market Value Management System" approved by the board on April 18, 2025, to regulate market value management and protect investor rights, but has not disclosed a valuation enhancement plan - The company has formulated the "Market Value Management System", which was approved at the 17th meeting of the Second Board of Directors on April 18, 2025[126](index=126&type=chunk) - The company has not disclosed a valuation enhancement plan[126](index=126&type=chunk) [Implementation of "Quality and Return Dual Enhancement" Action Plan](index=28&type=section&id=%E5%8D%81%E4%B8%89%E3%80%81%22%E8%B4%A8%E9%87%8F%E5%9B%9E%E6%8A%A5%E5%8F%8C%E6%8F%90%22%E8%A1%8C%E5%8A%A8%E6%96%B9%E6%A1%88%E8%B4%AF%E5%BD%BB%E8%90%BD%E5%AE%9E%E6%83%85%E5%86%B5) The company did not disclose any announcements regarding the "Quality and Return Dual Enhancement" action plan during the reporting period - The company did not disclose any announcements regarding the "Quality and Return Dual Enhancement" action plan during the reporting period[127](index=127&type=chunk) [Corporate Governance, Environment, and Society](index=29&type=section&id=%E7%AC%AC%E5%9B%9B%E8%8A%82%20%E5%85%AC%E5%8F%B8%E6%B2%BB%E7%90%86%E3%80%81%E7%8E%AF%E5%A2%83%E5%92%8C%E7%A4%BE%E4%BC%9A) This section outlines the company's practices in corporate governance, environmental protection, and social responsibility, demonstrating its commitment to sustainable and ethical operations [Changes in Directors, Supervisors, and Senior Management](index=29&type=section&id=%E4%B8%80%E3%80%81%E5%85%AC%E5%8F%B8%E8%91%A3%E4%BA%8B%E3%80%81%E7%9B%91%E4%BA%8B%E3%80%81%E9%AB%98%E7%BA%A7%E7%AE%A1%E7%90%86%E4%BA%BA%E5%91%98%E5%8F%98%E5%8A%A8%E6%83%85%E5%86%B5) There were no changes in the company's directors, supervisors, or senior management during the reporting period - There were no changes in the company's directors, supervisors, and senior management during the reporting period[129](index=129&type=chunk) [Profit Distribution and Capital Reserve Conversion to Share Capital in the Current Reporting Period](index=29&type=section&id=%E4%BA%8C%E3%80%81%E6%9C%AC%E6%8A%A5%E5%91%8A%E6%9C%9F%E5%88%A9%E6%B6%A6%E5%88%86%E9%85%8D%E5%8F%8A%E8%B5%84%E6%9C%AC%E5%85%AC%E7%A7%AF%E9%87%91%E8%BD%AC%E5%A2%9E%E8%82%A1%E6%9C%AC%E6%83%85%E5%86%B5) 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[130](index=130&type=chunk) [Implementation of Company Equity Incentive Plans, Employee Stock Ownership Plans, or Other Employee Incentive Measures](index=29&type=section&id=%E4%B8%89%E3%80%81%E5%85%AC%E5%8F%B8%E8%82%A1%E6%9D%83%E6%BF%80%E5%8A%B1%E8%AE%A1%E5%88%92%E3%80%81%E5%91%98%E5%B7%A5%E6%8C%81%E8%82%A1%E8%AE%A1%E5%88%92%E6%88%96%E5%85%B6%E4%BB%96%E5%91%98%E5%B7%A5%E6%BF%80%E5%8A%B1%E6%8E%AA%E6%96%BD%E7%9A%84%E5%AE%9E%E6%96%BD%E6%83%85%E5%86%B5) The company had no equity incentive plans, employee stock ownership plans, or other employee incentive measures in place or implemented during the reporting period - During the reporting period, the company had no equity incentive plans, employee stock ownership plans, or other employee incentive measures and their implementation[131](index=131&type=chunk) [Environmental Information Disclosure](index=30&type=section&id=%E5%9B%9B%E3%80%81%E7%8E%AF%E5%A2%83%E4%BF%A1%E6%81%AF%E6%8A%AB%E9%9C%B2%E6%83%85%E5%86%B5) The company and its major subsidiaries are not included in the list of enterprises required to disclose environmental information by law - The listed company and its major subsidiaries are not included in the list of enterprises required to disclose environmental information by law[132](index=132&type=chunk) [Social Responsibility](index=30&type=section&id=%E4%BA%94%E3%80%81%E7%A4%BE%E4%BC%9A%E8%B4%A3%E4%BB%BB%E6%83%85%E5%86%B5) The company prioritizes ESG risks and opportunities, fulfilling social responsibilities through robust corporate governance, employee welfare, sustainable supply chain management, information security, environmental protection, and community engagement, including a 0.75 million CNY investment in targeted poverty alleviation in H1 2025 - The company highly values managing environmental, social, and governance (ESG) related risks and opportunities, comprehensively fulfilling its social responsibilities[132](index=132&type=chunk) - The company strictly adheres to laws, regulations, and its Articles of Association, standardizing shareholder meeting procedures and ensuring the right to know, participate, and vote for all shareholders, especially minority shareholders, through various means[133](index=133&type=chunk) - The company complies with labor laws and regulations, establishes sound employee protection systems and compensation and welfare frameworks, advocates fair and non-discriminatory employment policies, and protects employee personal information and privacy[134](index=134&type=chunk) - Adhering to the "Customer First, Value Co-creation" philosophy, the company improves its supplier management system, promotes green environmental protection and sustainable development values, and employs localized procurement strategies[135](index=135&type=chunk) - The company strengthens network information security, conducts cybersecurity checks, enhances its technical protection system, and strictly complies with laws and regulations to protect its own and customer personal privacy[136](index=136&type=chunk) - The company strictly implements environmental laws and regulations, formulates environmental protection systems, vigorously promotes energy conservation and emission reduction, and actively fulfills its environmental and social responsibilities[137](index=137&type=chunk) - In H1 2025, the company carried out targeted assistance in Mengla County and Qiubei County, investing **0.75 million CNY** in rural revitalization and organizing charity education activities[138](index=138&type=chunk) [Significant Events](index=32&type=section&id=%E7%AC%AC%E4%BA%94%E8%8A%82%20%E9%87%8D%E8%A6%81%E4%BA%8B%E9%A1%B9) This section details all significant events that occurred during the reporting period, including commitments, related party transactions, and other material matters [Commitments Fulfilled and Overdue Unfulfilled by Controlling Shareholder, Shareholders, Related Parties, Acquirers, and the Company During and as of the End of the Reporting Period](index=32&type=section&id=%E4%B8%80%E3%80%81%E5%85%AC%E5%8F%B8%E5%AE%9E%E9%99%85%E6%8E%A7%E5%88%B6%E4%BA%BA%E3%80%81%E8%82%A1%E4%B8%9C%E3%80%81%E5%85%B3%E8%81%94%E6%96%B9%E3%80%81%E6%94%B6%E8%B4%AD%E4%BA%BA%E4%BB%A5%E5%8F%8A%E5%85%AC%E5%8F%B8%E7%AD%89%E6%89%BF%E8%AF%BA%E7%9B%B8%E5%85%B3%E6%96%B9%E5%9C%A8%E6%8A%A5%E5%91%8A%E6%9C%9F%E5%86%85%E5%B1%A5%E8%A1%8C%E5%AE%8C%E6%AF%95%E5%8F%8A%E6%88%AA%E8%87%B3%E6%8A%A5%E5%91%8A%E6%9C%AB%E8%B6%85%E6%9C%9F%E6%9C%AA%E5%B1%A5%E8%A1%8C%E5%AE%8C%E6%AF%95%E7%9A%84%E6%89%BF%E8%AF%BA%E4%BA%8B%E9%A1%B9) During the reporting period, there were no commitments fulfilled or overdue unfulfilled by the company's controlling shareholder, shareholders, related parties, acquirers, or the company itself - During the reporting period, there were no commitments fulfilled or overdue unfulfilled by the company's actual controller, shareholders, related parties, acquirers, or the company itself[140](index=140&type=chunk) [Non-Operating Occupation of Funds by Controlling Shareholder and Other Related Parties of the Listed Company](index=32&type=section&id=%E4%BA%8C%E3%80%81%E6%8E%A7%E8%82%A1%E8%82%A1%E4%B8%9C%E5%8F%8A%E5%85%B6%E4%BB%96%E5%85%B3%E8%81%94%E6%96%B9%E5%AF%B9%E4%B8%8A%E5%B8%82%E5%85%AC%E5%8F%B8%E7%9A%84%E9%9D%9E%E7%BB%8F%E8%90%A5%E6%80%A7%E5%8D%A0%E7%94%A8%E8%B5%84%E9%87%91%E6%83%85%E5%86%B5) During the reporting period, there was no non-operating occupation of the listed company's funds by its controlling shareholder or other related parties - During the reporting period, there was no non-operating occupation of the listed company's funds by its controlling shareholder or other related parties[141](index=141&type=chunk) [Illegal External Guarantees](index=32&type=section&id=%E4%B8%89%E3%80%81%E8%BF%9D%E8%A7%84%E5%AF%B9%E5%A4%96%E6%8B%85%E4%BF%9D%E6%83%85%E5%86%B5) The company had no illegal external guarantees during the reporting period - The company had no illegal external guarantees during the reporting period[142](index=142&type=chunk) [Appointment and Dismissal of Accounting Firms](index=32&type=section&id=%E5%9B%9B%E3%80%81%E8%81%98%E4%BB%BB%E3%80%81%E8%A7%A3%E8%81%98%E4%BC%9A%E8%AE%A1%E5%B8%88%E4%BA%8B%E5%8A%A1%E6%89%80%E6%83%85%E5%86%B5) The company's semi-annual financial report was not audited - The company's semi-annual financial report was not audited[143](index=143&type=chunk) [Explanations by the Board of Directors, Supervisory Board, and Audit Committee on the Accounting Firm's "Non-Standard Audit Report" for the Current Period](index=32&type=section&id=%E4%BA%94%E3%80%81%E8%91%A3%E4%BA%8B%E4%BC%9A%E3%80%81%E7%9B%91%E4%BA%8B%E4%BC%9A%E3%80%81%E5%AE%A1%E8%AE%A1%E5%A7%94%E5%91%98%E4%BC%9A%E5%AF%B9%E4%BC%9A%E8%AE%A1%E5%B8%88%E4%BA%8B%E5%8A%A1%E6%89%80%E6%9C%AC%E6%8A%A5%E5%91%8A%E6%9C%9F%22%E9%9D%9E%E6%A0%87%E5%87%86%E5%AE%A1%E8%AE%A1%E6%8A%A5%E5%91%8A%22%E7%9A%84%E8%AF%B4%E6%98%8E) There was no non-standard audit report for the company during the reporting period - There was no non-standard audit report for the company during the reporting period[144](index=144&type=chunk) [Board of Directors' Explanation on "Non-Standard Audit Report" for the Prior Year](index=32&type=section&id=%E5%85%AD%E3%80%81%E8%91%A3%E4%BA%8B%E4%BC%9A%E5%AF%B9%E4%B8%8A%E5%B9%B4%E5%BA%A6%22%E9%9D%9E%E6%A0%87%E5%87%86%E5%AE%A1%E8%AE%A1%E6%8A%A5%E5%91%8A%22%E7%9B%B8%E5%85%B3%E6%83%85%E5%86%B5%E7%9A%84%E8%AF%B4%E6%98%8E) There was no explanation regarding a non-standard audit report for the prior year during the company's reporting period - There was no explanation regarding a non-standard audit report for the prior year during the company's reporting period[144](index=144&type=chunk) [Bankruptcy and Reorganization Matters](index=32&type=section&id=%E4%B8%83%E3%80%81%E7%A0%B4%E4%BA%A7%E9%87%8D%E6%95%B4%E7%9B%B8%E5%85%B3%E4%BA%8B%E9%A1%B9) The company had no bankruptcy or reorganization matters during the reporting period - The company had no bankruptcy or reorganization matters during the reporting period[144](index=144&type=chunk) [Litigation Matters](index=32&type=section&id=%E5%85%AB%E3%80%81%E8%AF%89%E8%AE%BC%E4%BA%8B%E9%A1%B9) The company had no significant litigation or arbitration matters during the reporting period, with a labor contract dispute case involving Chen Yong-sheng and others concluded through out-of-court settlement and mutual withdrawal of appeals - The company had no significant litigation or arbitration matters during the current reporting period[145](index=145&type=chunk) - The labor contract dispute case involving Chen Yong-sheng and others has concluded, with all parties reaching an out-of-court settlement, Kunming Shipbuilding Equipment withdrawing its appeal, and the laborers withdrawing their lawsuit[146](index=146&type=chunk) [Penalties and Rectification](index=33&type=section&id=%E4%B9%9D%E3%80%81%E7%BD%9A%E7%BD%9A%E5%8F%8A%E6%95%B4%E6%94%B9%E6%83%85%E5%86%B5) The company had no penalties or rectification situations during the reporting period - The company had no penalties or rectification situations during the reporting period[147](index=147&type=chunk) [Integrity Status of the Company, its Controlling Shareholder, and Actual Controller](index=33&type=section&id=%E5%8D%81%E3%80%81%E5%85%AC%E5%8F%B8%E5%8F%8A%E5%85%B6%E6%8E%A7%E8%82%A1%E8%82%A1%E4%B8%9C%E3%80%81%E5%AE%9E%E9%99%85%E6%8E%A7%E5%88%B6%E4%BA%BA%E7%9A%84%E8%AF%9A%E4%BF%A1%E7%8A%B6%E5%86%B5) There were no issues regarding the integrity status of the company, its controlling shareholder, or actual controller during the reporting period - There were no issues regarding the integrity status of the company, its controlling shareholder, or actual controller during the reporting period[148](index=148&type=chunk) [Significant Related Party Transactions](index=33&type=section&id=%E5%8D%81%E4%B8%80%E3%80%81%E9%87%8D%E5%A4%A7%E5%85%B3%E8%81%94%E4%BA%A4%E6%98%93) During the reporting period, the company engaged in daily related party transactions, including sales of 241.65 million CNY to Kunming Shipbuilding Equipment Group, and had deposit and loan activities with CSSC Finance Co., Ltd., but no asset/equity acquisitions/disposals, joint investments, or other significant related party transactions Related Party Transactions Related to Daily Operations | Related Party | Type of Related Party Transaction | Content of Related Party Transaction | Amount of Related Party Transaction (million CNY) | Percentage of Similar Transactions | | :--- | :--- | :--- | :--- | :--- | | Kunming Shipbuilding Equipment Group Co., Ltd. | Sale of Goods | Sale of Goods | 241.65 | 22.06% | Dealings with Related Financial Companies | Business Type | Related Party | Period-End Balance (million CNY) | Period-Beginning Balance (million CNY) | | :--- | :--- | :--- | :--- | | Deposit Business | CSSC Finance Co., Ltd. | 298.07 | 545.92 | | Loan Business | CSSC Finance Co., Ltd. | 450.33 | 450.36 | | Credit or Other Financial Services | CSSC Finance Co., Ltd. | 473.58 (Actual Amount Incurred) | 860.00 (Total Amount) | - During the reporting period, the company did not engage in related party transactions involving asset or equity acquisitions/disposals, nor joint external investments[150](index=150&type=chunk)[151](index=151&type=chunk) - During the reporting period, the company had no related party creditor-debtor relationships or other significant related party transactions[152](index=152&type=chunk)[156](index=156&type=chunk) [Significant Contracts and Their Performance](index=35&type=section&id=%E5%8D%81%E4%BA%8C%E3%80%81%E9%87%8D%E5%A4%A7%E5%90%88%E5%90%8C%E5%8F%8A%E5%85%B6%E5%B1%A5%E8%A1%8C%E6%83%85%E5%86%B5) The company had no trust, contracting, or significant guarantee situations during the reporting period, with rental income of 0.49 million CNY and rental expenses of 9.65 million CNY for buildings and machinery, but no leasing projects exceeding 10% of total profit - The company had no trust arrangements during the reporting period[157](index=157&type=chunk) - The company had no contracting arrangements during the reporting period[158](index=158&type=chunk) - During the reporting period, the company received a total of **0.49 million CNY** in rental income from leasing out buildings[159](index=159&type=chunk) - During the reporting period, the company incurred a total of **5.25 million CNY** in expenses for leasing buildings and **4.40 million CNY** for leasing machinery and equipment[159](index=159&type=chunk) - During the reporting period, the company had no leasing projects whose profit or loss exceeded **10% of the company's total profit**[159](index=159&type=chunk) - The company had no significant guarantee situations during the reporting period[160](index=160&type=chunk) - The company had no other significant contracts during the reporting period[164](index=164&type=chunk) [Explanation of Other Significant Matters](index=36&type=section&

江苏通灵电器股份有限公司 2025 年半年度报告全文 江苏通灵电器股份有限公司 2025 年半年度报告 2025-051 【2025 年 8 月 28 日】 1 江苏通灵电器股份有限公司 2025 年半年度报告全文 第一节 重要提示、目录和释义 公司董事会、董事、高级管理人员保证半年度报告内容的真实、准确、 完整，不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和连带的法 律责任。 公司负责人严荣飞、主管会计工作负责人严荣飞及会计机构负责人(会计 主管人员)严荣飞声明：保证本半年度报告中财务报告的真实、准确、完整。 所有董事均已出席了审议本次半年报的董事会会议。 本半年度报告涉及的发展战略、经营计划及其他未来计划等前瞻性陈述， 均不构成公司对任何投资者及相关人士的实质承诺，投资者及相关人士应对 此保持足够的风险认识，并且应当理解计划、预测与承诺之间的差异。本公 司请投资者认真阅读本年度报告全文，并特别注意下列风险因素：原材料供 应及价格波动风险、光伏产业链景气度周期性波动风险、国际经济形势以及 宏观经济政策变化的风险、应收款项较大及不能及时收回的风险、市场竞争 加剧风险、产品结构较为单一的风险。具体内容请详 ...

浙江亚光科技股份有限公司 2025 年半年度报告 公司代码：603282 公司简称：亚光股份 浙江亚光科技股份有限公司 2025 年半年度报告 1 / 178 浙江亚光科技股份有限公司 2025 年半年度报告 重要提示 一、 本公司董事会、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、 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、 公司负责人陈国华、主管会计工作负责人胡富真及会计机构负责人（会计主管人员）孙晓 林声明：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 本报告涉及的未来计划、发展战略等前瞻性陈述，不构成公司对投资者的实际承诺，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 否 九、 是否存在半数以上董事无法保证公司所披露半年度报告的真实性、准确性和完整性 否 十、 重大风险提 ...

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