天津红日药业股份有限公司 2025 年半年度报告全文 天津红日药业股份有限公司 2025 年半年度报告 2025-041 2025 年 08 月 1 天津红日药业股份有限公司 2025 年半年度报告全文 第一节 重要提示、目录和释义 公司董事会、监事会及董事、监事、高级管理人员保证半年度报告内容 的真实、准确、完整，不存在虚假记载、误导性陈述或者重大遗漏，并承担 个别和连带的法律责任。 公司负责人吴文元、主管会计工作负责人但家平及会计机构负责人(会计 主管人员)王祥声明：保证本半年度报告中财务报告的真实、准确、完整。 所有董事均已出席了审议本次半年报的董事会会议。 公司在经营中可能面临的风险与对策举措已在本报告中第三节"管理层 讨论与分析"之"十、公司面临的风险和应对措施"部分予以描述。敬请广 大投资者关注，并注意投资风险。 公司计划不派发现金红利，不送红股，不以公积金转增股本。 2 | 目录 | | --- | | 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 | 8 | | 第三节 管理层讨论与分析 | 11 | | 第四节 公司治理、环境和社会 ...

广东佳隆食品股份有限公司 Guangdong Jialong Food Co., Ltd. 2025 年半年度报告 证券简称：佳隆股份 证券代码：002495 披露日期：二〇二五年八月二十八日 2025 年半年度报告 第一节 重要提示、目录和释义 公司董事会、监事会及董事、监事、高级管理人员保证半年度报告内容 的真实、准确、完整，不存在虚假记载、误导性陈述或者重大遗漏，并承担 个别和连带的法律责任。 公司负责人林平涛、主管会计工作负责人林长春及会计机构负责人(会计 主管人员)钟彩琼声明：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。 本半年度报告涉及未来计划等前瞻性陈述，不构成公司对投资者的实质 承诺，投资者及相关人士应当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。请投资者注意投资风险。 公司已在本报告"第三节 管理层讨论与分析"之"十、公司面临的风险 和应对措施"详细描述了公司面临的风险及应对措施，敬请广大投资者注意 查阅。 公司计划不派发现金红利，不送红股，不以公积金转增股本。 1 | 第一节 | 重要提示、目录和释义 | | 1 | ...

深圳市名雕装饰股份有限公司 2025 年半年度报告全文 深圳市名雕装饰股份有限公司 2025 年半年度报告 2025-023 2025 年 8 月 1 深圳市名雕装饰股份有限公司 2025 年半年度报告全文 第一节 重要提示、目录和释义 公司董事会、监事会及董事、监事、高级管理人员保证半年度报告内容 的真实、准确、完整，不存在虚假记载、误导性陈述或者重大遗漏，并承担 个别和连带的法律责任。 公司负责人蓝继晓、主管会计工作负责人黄立及会计机构负责人(会计主 管人员)肖利红声明：保证本半年度报告中财务报告的真实、准确、完整。 所有董事均已出席了审议本次半年报的董事会会议。 本报告中所涉及的未来计划、发展战略等前瞻性描述不构成公司对投资 者的实质承诺，投资者及相关人士均应当对此保持足够的风险认识，并且应 当理解计划、预测与承诺之间的差异。 公司所属建筑装饰和装修业，面临房地产行业政策影响的风险，公司亦 存在业务季节性波动的风险、劳动力及原材料成本上升导致的经营风险等， 敬请广大投资者注意投资风险，具体内容详见本报告第三节"管理层讨论与分 析"的相关内容。 公司计划不派发现金红利，不送红股，不以公积金转增股本。 2 ...

亚钾国际投资（广州）股份有限公司 2025 年半年度报告全文 2025 年半年度报告 2025 年 8 月 1 亚钾国际投资（广州）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 公司董事会除董事长郭柏春先生因被采取强制措施无法签署关于 2025 年 半年度报告的书面确认意见之外，其他董事、高级管理人员均保证半年度报 告内容的真实、准确、完整，不存在虚假记载、误导性陈述或重大遗漏，并 承担个别和连带的法律责任。请投资者特别关注。 公司负责人刘冰燕（代行）、主管会计工作负责人苏学军及会计机构负 责人(会计主管人员)苏学军声明：保证本半年度报告中财务报告的真实、准 确、完整。 本报告涉及未来计划等前瞻性陈述，该计划不构成公司对投资者的实质 承诺，请投资者及相关人士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，注意投资风险。 全球钾盐资源储量分布不均衡，钾肥生产高度集中，行业寡头对钾肥定 价有较强的影响力，受地缘政治、农产品价格、复合肥整体需求等多种因素 影响，存在钾肥价格波动风险。 公司计划不派发现金红利，不送红股，不以公积金转增股本。 2 | 第一节 | 重要提示、目 ...

襄阳长源东谷实业股份有限公司2025 年半年度报告 公司代码：603950 公司简称：长源东谷 襄阳长源东谷实业股份有限公司 2025 年半年度报告 1 / 173 襄阳长源东谷实业股份有限公司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、 公司负责人李佐元、主管会计工作负责人王红云及会计机构负责人（会计主管人员）彭明 辉声明：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 本报告期不进行利润分配或公积金转增股本 六、 前瞻性陈述的风险声明 □适用 √不适用 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、 重大风险提示 公司已在本报告中详细描述可能存在的相关风险，敬请查阅第 ...

浙江禾川科技股份有限公司2025 年半年度报告 公司代码：688320 公司简称：禾川科技 浙江禾川科技股份有限公司 2025 年半年度报告 1 / 228 浙江禾川科技股份有限公司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、 重大风险提示 公司已在本报告中详细阐述公司在经营过程中可能面临的各种风险及应对措施，敬请查阅本 报告第三节"管理层讨论与分析"之四"风险因素"。 三、 公司全体董事出席董事会会议。 四、 本半年度报告未经审计。 五、 公司负责人王项彬、主管会计工作负责人叶云青及会计机构负责人（会计主管人员）吴长 银声明：保证半年度报告中财务报告的真实、准确、完整。 六、 董事会决议通过的本报告期利润分配预案或公积金转增股本预案 无 七、 是否存在公司治理特殊安排等重要事项 □适用 √不适用 八、 前瞻性陈述的风险声明 √适用 □不适用 本报告中涉及的未来计划、发展战略等前瞻性陈述不构成公司对投资者的实质承诺，投资者 及相关人士均应当对此保持足够 ...

东浩兰生会展集团股份有限公司2025 年半年度报告 公司代码：600826 公司简称：兰生股份 东浩兰生会展集团股份有限公司 2025 年半年度报告 1 / 171 东浩兰生会展集团股份有限公司2025 年半年度报告 重要提示 一、 本公司董事会及董事、高级管理人员保证半年度报告内容的真实性、准确性、完整性，不 存在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 二、 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、 公司负责人陈小宏、主管会计工作负责人毕培文及会计机构负责人（会计主管人员）楼铭 铭声明：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 本公司2025年度中期利润分配预案为：以公司总股本735,533,549股扣减公司回购专用证券账 户股份11,349,981股，即以724,183,568股为基数，向全体股东每10股派发现金红利0.60元（含税）。 六、 前瞻性陈述的风险声明 √适用 □不适用 本报告中所涉及的未来计划、发展战略等前瞻性描述不构成公司对投资者的实质承诺，敬请 投资者注意投资风险。 七、 是 ...

中创物流股份有限公司2025 年半年度报告 公司代码：603967 公司简称：中创物流 中创物流股份有限公司 2025 年半年度报告 1 / 181 中创物流股份有限公司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、 公司负责人李松青、主管会计工作负责人楚旭日及会计机构负责人（会计主管人员）王琛 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 本报告所涉及的未来计划、发展战略等前瞻性陈述，不构成公司对投资者的实质性承诺，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 十一、 其他 □适用 √不适用 2 / 181 | 第一节 | 释义 | 4 | | --- | --- | --- ...

[Important Notes, Table of Contents, and Definitions](index=2&type=section&id=First%20Section%20Important%20Notes%2C%20Table%20of%20Contents%2C%20and%20Definitions) This section provides crucial disclaimers, outlines the report's structure, lists reference documents, and defines key terms for clarity [Important Notes](index=2&type=section&id=Important%20Notes) The Board of Directors, Supervisory Board, and senior management guarantee the report's accuracy and completeness, while forward-looking statements are not commitments - The company's Board of Directors, Supervisory Board, and senior management guarantee the truthfulness, accuracy, and completeness of the report's content[4](index=4&type=chunk) - The company's responsible person, head of accounting, and head of accounting department declare the financial 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[4](index=4&type=chunk) [Table of Contents](index=2&type=section&id=Table%20of%20Contents) This section lists the report's nine main chapters and their starting page numbers, providing an overview of the report's overall structure - The report comprises nine main chapters, covering company profile, management discussion and analysis, and financial reports[5](index=5&type=chunk) [Reference Documents Catalog](index=2&type=section&id=Reference%20Documents%20Catalog) This section lists the reference documents available for inspection during the reporting period, including the chairman-signed semi-annual report, financial statements, and original public disclosures - Reference documents include the chairman-signed original semi-annual report, financial statements, and original public disclosure documents[7](index=7&type=chunk)[8](index=8&type=chunk) [Definitions](index=3&type=section&id=Definitions) This section defines common terms used in the report, including company names, controlling shareholders, subsidiaries, relevant laws, and core technologies and products, ensuring accurate reader comprehension - Definitions clarify the Company, controlling shareholder (Fujian Institute of Research on the Structure of Matter), and major subsidiaries (Haite Optoelectronics, Zhiqiguangzi, Ruichuang Optoelectronics)[9](index=9&type=chunk) - Core technology and product terms such as laser, nonlinear optical crystals, laser crystals, solid-state lasers, fiber lasers, LiDAR, AR, and optical communication are explained[9](index=9&type=chunk) - The reporting period is defined as January to June 2025, with the end of the reporting period being June 30, 2025[9](index=9&type=chunk) [Company Profile and Key Financial Indicators](index=4&type=section&id=Second%20Section%20Company%20Profile%20and%20Key%20Financial%20Indicators) This section presents the company's fundamental information, contact details, and a summary of its key financial performance and position for the reporting period [I. Company Profile](index=4&type=section&id=I.%20Company%20Profile) This section provides the company's basic information, including stock ticker, code, listing exchange, Chinese and English names, and legal representative, for investor identification Company Basic Information | Indicator | Content | | :--- | :--- | | Stock Abbreviation | CASTECH | | Stock Code | 002222 | | Listed Stock Exchange | Shenzhen Stock Exchange | | Chinese Name | 福建福晶科技股份有限公司 | | English Name | CASTECH Inc. | | Legal Representative | Chen Hui | [II. Contact Person and Information](index=4&type=section&id=II.%20Contact%20Person%20and%20Information) This section provides detailed contact information for the company's Board Secretary and Securities Affairs Representative, facilitating investor communication and inquiries Contact Person and Information | Position | Name | Contact Address | Phone | Fax | Email | | :--- | :--- | :--- | :--- | :--- | :--- | | Board Secretary | Xue Hanfeng | Building 9, F Zone, Fuzhou Software Park, 89 Software Avenue, Gulou District, Fuzhou City | 0591-83719323 | 0591-83719323 | securities@castech.com | | Securities Affairs Representative | Xue Hanfeng | Building 9, F Zone, Fuzhou Software Park, 89 Software Avenue, Gulou District, Fuzhou City | 0591-83719323 | 0591-83719323 | securities@castech.com | [III. Other Information](index=4&type=section&id=III.%20Other%20Information) This section states that the company's contact information, information disclosure, and document storage locations remained unchanged during the reporting period, referring to the 2024 annual report - The company's contact information, information disclosure, and document storage locations remained unchanged during the reporting period, as detailed in the 2024 annual report[13](index=13&type=chunk)[14](index=14&type=chunk) - No other relevant information changed during the reporting period[15](index=15&type=chunk) [IV. Key Accounting Data and Financial Indicators](index=4&type=section&id=IV.%20Key%20Accounting%20Data%20and%20Financial%20Indicators) This section presents the company's key accounting data and financial indicators for the first half of 2025, including revenue, net profit, and net cash flow, demonstrating steady growth Key Accounting Data and Financial Indicators for H1 2025 | Indicator | Current Reporting Period (yuan) | Prior Year Same Period (yuan) | % Change from Prior Year Same Period | | :--- | :--- | :--- | :--- | | Operating Revenue | 519,063,371.15 | 439,496,210.80 | 18.10% | | Net Profit Attributable to Shareholders of Listed Company | 128,148,178.45 | 109,567,089.33 | 16.96% | | Net Profit Attributable to Shareholders of Listed Company (Excluding Non-Recurring Gains/Losses) | 119,839,681.13 | 117,143,753.64 | 2.30% | | Net Cash Flow from Operating Activities | 135,430,971.34 | 88,197,410.71 | 53.55% | | Basic Earnings Per Share (yuan/share) | 0.2725 | 0.2330 | 16.95% | | Diluted Earnings Per Share (yuan/share) | 0.2725 | 0.2330 | 16.95% | | Weighted Average Return on Net Assets | 7.85% | 7.33% | Increased by 0.52 percentage points | | **End of Current Reporting Period** | **End of Prior Year** | **% Change from End of Prior Year** | | | Total Assets (yuan) | 2,202,746,806.79 | 1,999,365,560.31 | 10.17% | | Net Assets Attributable to Shareholders of Listed Company (yuan) | 1,658,643,954.31 | 1,576,941,206.61 | 5.18% | [V. Differences in Accounting Data Under Domestic and Overseas Accounting Standards](index=5&type=section&id=V.%20Differences%20in%20Accounting%20Data%20Under%20Domestic%20and%20Overseas%20Accounting%20Standards) This section states that the company had no differences in net profit and net assets between international/overseas accounting standards and Chinese accounting standards during the reporting period - The company had no differences in net profit and net assets under domestic and overseas accounting standards during the reporting period[17](index=17&type=chunk)[18](index=18&type=chunk) [VI. Non-Recurring Gains and Losses Items and Amounts](index=5&type=section&id=VI.%20Non-Recurring%20Gains%20and%20Losses%20Items%20and%20Amounts) This section details the company's non-recurring gains and losses for the first half of 2025, totaling **8.31 million yuan**, and confirms no other items meet this definition Non-Recurring Gains and Losses Items and Amounts for H1 2025 | Item | Amount (yuan) | Explanation | | :--- | :--- | :--- | | Gains/Losses from Disposal of Non-Current Assets | -8,779.54 | | | Government Grants Included in Current Profit/Loss (Excluding those with continuous impact) | 7,798,453.47 | | | Fair Value Changes and Disposal Gains/Losses from Financial Assets and Liabilities Held by Non-Financial Enterprises | 1,121,968.34 | | | Other Non-Operating Income and Expenses Apart from the Above | -8,551.59 | | | Less: Income Tax Impact | 560,061.43 | | | Impact on Minority Interests (After Tax) | 34,531.93 | | | **Total** | **8,308,497.32** | | - The company has no other profit/loss items that meet the definition of non-recurring gains and losses, nor has it classified non-recurring items as recurring[21](index=21&type=chunk) [Management Discussion and Analysis](index=6&type=section&id=Third%20Section%20Management%20Discussion%20and%20Analysis) This section provides an in-depth review of the company's operations, financial performance, market position, and strategic outlook during the reporting period [I. Company's Main Business Activities During the Reporting Period](index=6&type=section&id=I.%20Company%27s%20Main%20Business%20Activities%20During%20the%20Reporting%20Period) The company focuses on optoelectronic fields like laser and optical communication, providing core components, and achieved steady growth in revenue and net profit by capitalizing on market opportunities - The company's main business involves R&D, manufacturing, and sales of crystal components, precision optical components, and laser devices, operating within the computer, communication, and other electronic equipment manufacturing industry[23](index=23&type=chunk) - The company in the first half of 2025 achieved steady development by seizing opportunities in the global ultrafast laser and optical communication markets[57](index=57&type=chunk) H1 2025 Key Financial Performance | Indicator | Amount (RMB 10,000) | % Change from Prior Year | | :--- | :--- | :--- | | Operating Revenue | 51,906.34 | 18.10% | | Net Profit Attributable to Shareholders of Listed Company | 12,814.82 | 16.96% | | Net Profit Attributable to Shareholders of Listed Company (Excluding Non-Recurring Gains/Losses) | 11,983.97 | 2.30% | | Net Cash Flow from Operating Activities | 13,543.10 | 53.55% | | Weighted Average Return on Net Assets | 7.85% | Increased by 0.52 percentage points | [(I) Industry Development Overview](index=6&type=section&id=(I)%20Industry%20Development%20Overview) This section analyzes the laser and optical communication industries, highlighting accelerated domestic substitution in lasers, the promising ultrafast laser market, and AI-driven growth in optical interconnects - The laser industry has a complete value chain with accelerating domestic substitution, and the ultrafast laser market is projected to grow at a **CAGR of 10%-15%** in the coming years[24](index=24&type=chunk)[29](index=29&type=chunk) - China has become the world's largest industrial laser market, with technological innovation, domestic substitution, and overseas expansion as key development trends[30](index=30&type=chunk) - The explosion of AI applications is driving new growth in the optical communication industry, with rapid growth in optical interconnect demand from 2023-2025, expected to continue until 2030[33](index=33&type=chunk) - The Data Center Interconnect (DCI) market is expected to grow at twice the rate of the overall optical communication market, with a synchronous increase in demand for WSS and its core optical components[33](index=33&type=chunk)[34](index=34&type=chunk) [(II) Main Business](index=9&type=section&id=(II)%20Main%20Business) During the reporting period, the company's main business remained unchanged, focusing on the R&D, production, and sales of crystal components, precision optical components, and laser devices - The company's main business remained largely unchanged, primarily engaging in the R&D, production, and sales of crystal components, precision optical components, and laser devices[35](index=35&type=chunk) [(III) Main Products and Applications](index=9&type=section&id=(III)%20Main%20Products%20and%20Applications) The company offers three product categories—crystal components, precision optical components, and laser devices—including various crystals, lenses, mirrors, and modulators, widely used in lasers, optical communication, AR, and LiDAR - The company's product system includes crystal components (nonlinear optical crystals, laser crystals, etc.), precision optical components (windows, mirrors, lenses, diffraction gratings, etc.), and laser devices (magneto-optical devices, acousto-optical devices, electro-optical devices, etc.)[36](index=36&type=chunk)[37](index=37&type=chunk)[41](index=41&type=chunk)[43](index=43&type=chunk) - Products are widely applied in solid-state lasers, fiber lasers, optical communication wavelength division multiplexers, AR, LiDAR, semiconductor equipment, and precision instruments[37](index=37&type=chunk)[41](index=41&type=chunk)[43](index=43&type=chunk) [(IV) Business Model](index=12&type=section&id=(IV)%20Business%20Model) The company generates revenue primarily from R&D, production, and sales of optoelectronic components, utilizing a build-to-order production model with direct sales and a robust R&D focus - The company primarily generates revenue, profit, and cash flow through the R&D, production, and sales of crystal components, precision optical components, and laser devices[49](index=49&type=chunk) - Procurement Model: Purchases raw materials from qualified suppliers based on orders and inventory, using competitive bidding or tender processes, managed by a strict supplier management system[51](index=51&type=chunk) - Production Model: Primarily adopts a build-to-order approach, with reasonable stocking for some general-purpose products[52](index=52&type=chunk) - Sales Model: Primarily direct sales, supplemented by consignment, expanding markets through online promotion, exhibitions, and customer visits, covering both domestic and international markets[53](index=53&type=chunk) - R&D Model: Operates an independent R&D center for proprietary research and collaborates with its controlling shareholder (Fujian Institute of Research on the Structure of Matter) or other research institutions for joint R&D[54](index=54&type=chunk) [(V) Market Position](index=13&type=section&id=(V)%20Market%20Position) The company holds a leading global market position in laser and optical communication components, being the largest producer of LBO and BBO crystals, and offers a comprehensive "crystal + optical component + laser device" one-stop service - The company is a globally renowned leading manufacturer of LBO crystals, BBO crystals, Nd:YVO4 crystals, precision optical components, high-power optical isolators, and acousto-optical and electro-optical devices[55](index=55&type=chunk) - The company holds an international leading position in core nonlinear optical crystals and laser crystals, being the world's largest producer of LBO and BBO crystals and their components, with the highest global market share[56](index=56&type=chunk) - LBO crystal devices were recognized as a "Manufacturing Single Champion Product" by the Ministry of Industry and Information Technology and the China Federation of Industrial Economics[56](index=56&type=chunk) - The company's influence in the precision optical products and laser device markets is steadily increasing, successfully breaking the monopoly of foreign laser device suppliers[56](index=56&type=chunk) - The company is one of the very few suppliers in the industry capable of providing "crystal + optical component + laser device" one-stop optoelectronic services to laser customers[56](index=56&type=chunk) [(VI) Operating Performance During the Reporting Period](index=14&type=section&id=(VI)%20Operating%20Performance%20During%20the%20Reporting%20Period) In H1 2025, the company achieved **519.06 million yuan** in operating revenue, a **18.10% increase**, and **128.15 million yuan** in net profit attributable to shareholders, a **16.96% increase**, driven by R&D and market expansion - The group standard "Photo-thermal Lens Method Weak Absorption Rate Tester" led by the company passed review and was implemented[57](index=57&type=chunk) - The large-aperture electro-optical modulator and driver based on independently grown BBO crystals filled a domestic gap, winning the "2025 China Top Ten Optical Industry Technology Application Award"; the 68M large-aperture acousto-optical modulator won the "Red Light Award - Laser Device Innovation Award"[57](index=57&type=chunk) H1 2025 Business Revenue Growth | Business Type | % Change from Prior Year | | :--- | :--- | | Export Business Revenue | 13.75% | | Domestic Sales Revenue | 20.77% | | Crystal Components Revenue | 7.67% | | - Nonlinear Optical Crystal Revenue | 5.98% | | - Laser Crystal Revenue | 10.15% | | Precision Optical Components Revenue | 29.05% | | Laser Devices Revenue | 29.51% | [II. Core Competitiveness Analysis](index=15&type=section&id=II.%20Core%20Competitiveness%20Analysis) The company's core competitiveness stems from its strong brand, one-stop marketing services, continuous technological innovation, R&D-driven approach, and refined management, establishing a high-tech, high-quality image in the global optoelectronics sector - The company's core management team and key technical personnel are stable, possessing complete land use rights, factory facilities, advanced equipment, patented technologies, and trademark rights[60](index=60&type=chunk) - Brand Advantage: Long-term focus on its main business, establishing solid partnerships with top global laser manufacturers, with the "CASTECH" brand enjoying a reputation for high technology, high quality, and excellent service in the global laser industry[60](index=60&type=chunk) - One-Stop Marketing Service Advantage: Built a full-chain product matrix of crystals, optical components, and laser devices, offering "one-stop" optoelectronic solutions to enhance customer procurement efficiency[61](index=61&type=chunk) - Technological Innovation Advantage: Accumulated unique processes and technologies in crystal growth, optical processing, coating, and device assembly, ensuring excellent product quality[62](index=62&type=chunk) - R&D Driven Advantage: Established national-level enterprise technology centers, postdoctoral research workstations, and other platforms for independent research and collaboration with scientific research institutions, accelerating new product R&D and technological iteration[64](index=64&type=chunk) - Management Advantage: Deeply promotes refined management, obtaining ISO9001, ISO14001, ISO45001, and IATF16949 certifications, building a comprehensive quality management system[65](index=65&type=chunk) [III. Analysis of Main Business](index=16&type=section&id=III.%20Analysis%20of%20Main%20Business) This section analyzes the main business's financial performance, noting an 18.10% increase in operating revenue, but a higher growth in operating costs led to a decrease in gross profit margin, with significant growth in precision optical components and laser devices Major Financial Data Year-on-Year Changes | Indicator | Current Reporting Period (yuan) | Prior Year Same Period (yuan) | % Change from Prior Year | Reason for Change | | :--- | :--- | :--- | :--- | :--- | | Operating Revenue | 519,063,371.15 | 439,496,210.80 | 18.10% | | | Operating Cost | 254,507,584.19 | 195,128,126.05 | 30.43% | Driven by sales growth, some product prices decreased, and material/labor costs increased | | Selling Expenses | 8,482,410.41 | 9,069,265.13 | -6.47% | | | Administrative Expenses | 46,595,850.07 | 46,874,748.88 | -0.59% | | | Financial Expenses | -1,376,383.63 | -3,401,967.29 | 59.54% | Reduced exchange gains due to RMB appreciation | | R&D Investment | 53,920,505.45 | 43,510,972.67 | 23.92% | | | Income Tax Expense | 22,970,078.84 | 20,875,044.58 | 10.04% | | | Net Cash Flow from Operating Activities | 135,430,971.34 | 88,197,410.71 | 53.55% | Increased sales collection | | Net Cash Flow from Investing Activities | -129,483,026.15 | -98,348,085.20 | -31.66% | Decreased amount of matured structured deposits | | Net Cash Flow from Financing Activities | 26,102,165.95 | -41,800,949.55 | 162.44% | Increased subsidiary borrowings, decreased parent company dividends | | Net Increase in Cash and Cash Equivalents | 32,050,111.14 | -51,951,624.04 | 161.69% | Increased cash received from sales, increased bank borrowings, and decreased dividends | Operating Revenue Composition (by Product and Region) | Category | Item | Current Reporting Period Amount (yuan) | % of Operating Revenue | Prior Year Same Period Amount (yuan) | % of Operating Revenue | % Change from Prior Year | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | **By Product** | Nonlinear Optical Crystal Components | 126,508,322.26 | 24.37% | 119,366,848.39 | 27.16% | 5.98% | | | Laser Crystal Components | 89,652,758.11 | 17.27% | 81,391,262.29 | 18.52% | 10.15% | | | Precision Optical Components | 182,004,940.10 | 35.06% | 141,039,507.23 | 32.09% | 29.05% | | | Laser Devices | 111,564,903.88 | 21.50% | 86,146,693.60 | 19.60% | 29.51% | | | Other | 9,332,446.80 | 1.80% | 11,551,899.29 | 2.63% | -19.21% | | **By Region** | Domestic | 329,104,541.36 | 63.40% | 272,495,217.25 | 62.00% | 20.77% | | | International | 189,958,829.79 | 36.60% | 167,000,993.55 | 38.00% | 13.75% | Operating Revenue, Cost, and Gross Profit Margin (by Product and Region) | Category | Item | Operating Revenue (yuan) | Operating Cost (yuan) | Gross Profit Margin | % Change in Operating Revenue from Prior Year | % Change in Operating Cost from Prior Year | % Change in Gross Profit Margin from Prior Year | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | **By Industry** | Optoelectronics Industry | 519,063,371.15 | 254,507,584.19 | 50.97% | 18.10% | 30.43% | -4.63% | | **By Product** | Nonlinear Optical Crystal Components | 126,508,322.26 | 30,537,672.24 | 75.86% | 5.98% | 8.42% | -0.54% | | | Laser Crystal Components | 89,652,758.11 | 36,322,625.08 | 59.49% | 10.15% | 28.02% | -5.65% | | | Precision Optical Components | 182,004,940.10 | 106,904,796.23 | 41.26% | 29.05% | 25.36% | 1.72% | | | Laser Devices | 111,564,903.88 | 75,839,766.19 | 32.02% | 29.51% | 57.22% | -11.98% | | | Other | 9,332,446.80 | 4,902,724.45 | 47.47% | -19.21% | -3.38% | -8.61% | | **By Region** | Domestic | 329,104,541.36 | 184,362,361.10 | 43.98% | 20.77% | 31.73% | -4.66% | | | International | 189,958,829.79 | 70,145,223.09 | 63.07% | 13.75% | 27.18% | -4.00% | [IV. Analysis of Non-Core Business](index=18&type=section&id=IV.%20Analysis%20of%20Non-Core%20Business) This section analyzes the impact of non-core business on total profit, identifying investment income and government grants as positive contributors, while credit impairment losses had a negative effect Impact of Non-Core Business on Total Profit | Item | Amount (yuan) | % of Total Profit | Reason for Formation | Sustainability | | :--- | :--- | :--- | :--- | :--- | | Investment Income | 3,067,351.89 | 1.90% | Equity method investment income from long-term equity investments | Yes | | Fair Value Change Gains/Losses | 1,121,968.34 | 0.70% | Fair value changes of financial assets measured at fair value and whose changes are recognized in current profit/loss | No | | Non-Operating Income | 18,474.57 | 0.01% | Gains from asset scrap | No | | Non-Operating Expenses | 72,295.50 | 0.04% | Losses from asset scrap | No | | Other Income | 8,641,731.69 | 5.37% | Government grants | No | | Credit Impairment Losses | -3,280,025.51 | -2.04% | Provision for bad debts | No | [V. Analysis of Assets and Liabilities](index=18&type=section&id=V.%20Analysis%20of%20Assets%20and%20Liabilities) This section analyzes the composition and significant changes in the company's assets and liabilities, noting increases in total assets, net assets attributable to shareholders, construction in progress, and right-of-use assets, alongside corresponding increases in long-term borrowings and lease liabilities Significant Changes in Asset Composition | Item | End of Current Reporting Period Amount (yuan) | % of Total Assets | End of Prior Year Amount (yuan) | % of Total Assets | % Change in Proportion | Explanation of Significant Change | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Monetary Funds | 342,447,044.63 | 15.55% | 311,134,243.93 | 15.56% | -0.01% | | | Accounts Receivable | 382,009,591.77 | 17.34% | 298,020,367.67 | 14.91% | 2.43% | | | Inventories | 298,666,654.28 | 13.56% | 288,414,245.02 | 14.43% | -0.87% | | | Long-Term Equity Investments | 66,159,892.68 | 3.00% | 64,573,370.27 | 3.23% | -0.23% | | | Fixed Assets | 594,692,027.74 | 27.00% | 573,144,021.59 | 28.67% | -1.67% | | | Construction in Progress | 99,254,047.40 | 4.51% | 65,200,601.10 | 3.26% | 1.25% | Increased by **52.23%**, mainly due to increased equipment to be installed and investment in Phase II Building D | | Right-of-Use Assets | 55,109,374.49 | 2.50% | 30,656,824.50 | 1.53% | 0.97% | Increased by **79.76%**, mainly due to new factory leases by subsidiaries during the period | | Short-Term Borrowings | 17,000,000.00 | 0.77% | 14,005,479.45 | 0.70% | 0.07% | | | Contract Liabilities | 5,501,385.69 | 0.25% | 4,503,178.73 | 0.23% | 0.02% | | | Long-Term Borrowings | 89,266,977.12 | 4.05% | 59,566,517.12 | 2.98% | 1.07% | Increased by **49.86%**, mainly due to increased long-term borrowings by subsidiaries during the period | | Lease Liabilities | 45,152,529.45 | 2.05% | 23,138,477.01 | 1.16% | 0.89% | Increased by **95.14%**, mainly due to new factory leases by subsidiaries during the period | Assets and Liabilities Measured at Fair Value | Item | Beginning Balance (yuan) | Fair Value Change Gains/Losses for Current Period (yuan) | Amount Purchased for Current Period (yuan) | Amount Sold for Current Period (yuan) | Ending Balance (yuan) | | :--- | :--- | :--- | :--- | :--- | :--- | | Trading Financial Assets | 10,047,911.12 | | 45,000,000.00 | 10,047,911.12 | 45,000,000.00 | | Other Non-Current Financial Assets | 51,464,517.10 | 1,121,968.34 | | 2,823,596.05 | 49,762,889.39 | | **Subtotal Financial Assets** | **61,512,428.22** | **1,121,968.34** | **45,000,000.00** | **12,871,507.17** | **94,762,889.39** | - The company's main asset measurement attributes did not undergo significant changes during the reporting period[76](index=76&type=chunk) [VI. Investment Analysis](index=20&type=section&id=VI.%20Investment%20Analysis) This section states that the company had no significant equity investments, non-equity investments, securities investments, derivative investments, or use of raised funds during the reporting period, indicating stable investment activities - The company had no securities investments, derivative investments, significant equity investments, significant non-equity investments, or use of raised funds during the reporting period[76](index=76&type=chunk)[77](index=77&type=chunk) [VII. Significant Asset and Equity Disposals](index=20&type=section&id=VII.%20Significant%20Asset%20and%20Equity%20Disposals) This section states that the company did not undertake any significant asset or equity disposals during the reporting period, maintaining a stable asset structure - The company did not dispose of significant assets or equity during the reporting period[78](index=78&type=chunk)[79](index=79&type=chunk) [VIII. Analysis of Major Holding and Participating Companies](index=20&type=section&id=VIII.%20Analysis%20of%20Major%20Holding%20and%20Participating%20Companies) This section lists the financial information for the company's major subsidiaries, including Qingdao Haite Optoelectronics, Fujian Ruichuang Optoelectronics, Fujian Huajing Investment, and Fujian Zhiqiguangzi, with Ruichuang Optoelectronics and Zhiqiguangzi showing significant revenue and net profit growth in H1 2025 Major Holding and Participating Companies | Company Name | Company Type | Main Business | Registered Capital (yuan) | Total Assets (yuan) | Net Assets (yuan) | Operating Revenue (yuan) | Operating Profit (yuan) | Net Profit (yuan) | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Qingdao Haite Optoelectronics Technology Co., Ltd. | Subsidiary | Production and processing of optical, nonlinear optical crystal materials and technical services | 15,000,000.00 | 216,209,639.01 | 145,514,196.62 | 77,037,757.08 | 33,949,279.10 | 28,459,171.82 | | Fujian Ruichuang Optoelectronics Technology Co., Ltd. | Subsidiary | Development, production, and sales of diffractive optics and micro-optics products | 31,000,000.00 | 40,455,722.90 | 36,269,048.92 | 15,928,808.66 | 5,052,165.80 | 4,804,645.80 | | Fujian Huajing Investment Co., Ltd. | Subsidiary | External investment | 80,000,000.00 | 28,149,104.37 | 28,149,104.37 | | 5,131,749.02 | 5,131,749.02 | | Fujian Zhiqiguangzi Technology Co., Ltd. | Subsidiary | Development, production, and sales of ultra-precision optical components | 174,705,882.00 | 363,995,194.82 | 167,708,178.03 | 49,054,225.86 | 995,210.16 | 995,210.39 | - Ruichuang Optoelectronics' operating revenue increased by **67.48%** and net profit increased by **271.71%** in the first half of 2025[80](index=80&type=chunk) - Zhiqiguangzi's operating revenue increased by **73.66%** and net profit was **995,210.39 yuan** in the first half of 2025[80](index=80&type=chunk) [IX. Information on Structured Entities Controlled by the Company](index=21&type=section&id=IX.%20Information%20on%20Structured%20Entities%20Controlled%20by%20the%20Company) This section states that the company had no structured entities under its control during the reporting period - The company had no structured entities under its control during the reporting period[81](index=81&type=chunk) [X. Risks Faced by the Company and Countermeasures](index=21&type=section&id=X.%20Risks%20Faced%20by%20the%20Company%20and%20Countermeasures) This section identifies key risks such as intensified market competition, changes in international environment and trade policies, accounts receivable collection, and exchange rate fluctuations, outlining corresponding mitigation strategies - Risk of intensified market competition: Addressed by strengthening market research, increasing R&D investment, adhering to technological leadership and differentiation strategies, and exploring high-value-added product markets[81](index=81&type=chunk) - Risk of changes in international environment and trade policies: Managed by closely monitoring macroeconomic and trade policy changes, enhancing communication with international customers, prudently assessing export risks, and intensifying domestic market development[83](index=83&type=chunk) - Risk of accounts receivable collection: Mitigated by formulating credit policies based on customer creditworthiness, strictly controlling sales credit limits, and strengthening reconciliation and collection efforts[84](index=84&type=chunk) - Exchange rate fluctuation risk: Monitored by the finance department, communicating pricing mechanisms with customers, strengthening collection of foreign sales receivables, and flexibly choosing settlement methods or advance receipts[85](index=85&type=chunk) [XI. Formulation and Implementation of Market Value Management System and Valuation Enhancement Plan](index=22&type=section&id=XI.%20Formulation%20and%20Implementation%20of%20Market%20Value%20Management%20System%20and%20Valuation%20Enhancement%20Plan) This section states that 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 or disclose a valuation enhancement plan during the reporting period[86](index=86&type=chunk) [XII. Implementation of 'Quality and Return Dual Improvement' Action Plan](index=22&type=section&id=XII.%20Implementation%20of%20%27Quality%20and%20Return%20Dual%20Improvement%27%20Action%20Plan) This section states that the company did not disclose an announcement regarding the "Quality and Return Dual Improvement" action plan during the reporting period - The company did not disclose an announcement regarding the "Quality and Return Dual Improvement" action plan during the reporting period[86](index=86&type=chunk) [Corporate Governance, Environment, and Society](index=22&type=section&id=Fourth%20Section%20Corporate%20Governance%2C%20Environment%2C%20and%20Society) This section details the company's governance structure, profit distribution plans, employee incentives, environmental disclosures, and social responsibility initiatives [I. Changes in Directors, Supervisors, and Senior Management](index=22&type=section&id=I.%20Changes%20in%20Directors%2C%20Supervisors%2C%20and%20Senior%20Management) This section states that there were no changes in the company's directors, supervisors, and senior management during the reporting period, referring to the 2024 annual report for details - The company's directors, supervisors, and senior management did not change during the reporting period[87](index=87&type=chunk) [II. Profit Distribution and Capital Reserve Conversion to Share Capital During the Reporting Period](index=22&type=section&id=II.%20Profit%20Distribution%20and%20Capital%20Reserve%20Conversion%20to%20Share%20Capital%20During%20the%20Reporting%20Period) This section states that the company plans not to distribute cash dividends, bonus shares, or convert capital reserves into share capital for the half-year period - The company plans not to distribute cash dividends, bonus shares, or convert capital reserves into share capital for the half-year period[89](index=89&type=chunk) [III. Implementation of Equity Incentive Plans, Employee Stock Ownership Plans, or Other Employee Incentive Measures](index=23&type=section&id=III.%20Implementation%20of%20Equity%20Incentive%20Plans%2C%20Employee%20Stock%20Ownership%20Plans%2C%20or%20Other%20Employee%20Incentive%20Measures) This section states that the company had no equity incentive plans, employee stock ownership plans, or other employee incentive measures implemented during the reporting period - The company had no equity incentive plans, employee stock ownership plans, or other employee incentive measures implemented during the reporting period[90](index=90&type=chunk) [IV. Environmental Information Disclosure](index=23&type=section&id=IV.%20Environmental%20Information%20Disclosure) This section states that the company and its major subsidiaries are not included in the list of enterprises required to disclose environmental information by law - The company and its major subsidiaries are not included in the list of enterprises required to disclose environmental information by law[91](index=91&type=chunk) [V. Social Responsibility](index=23&type=section&id=V.%20Social%20Responsibility) The company is committed to driving optoelectronic industry development through innovation, providing cost-effective solutions, maintaining robust governance, promoting energy conservation, and actively engaging in social welfare while balancing stakeholder interests - The company is committed to being a "strong promoter of optoelectronic industry development," focusing on technological innovation in laser and optical communication to provide cost-effective products and one-stop solutions[91](index=91&type=chunk) - The company has established a sound governance structure and investor communication mechanism, improved human resource management systems, and conducts procurement and sales based on principles of equal consultation and mutual benefit[91](index=91&type=chunk) - The company promotes energy conservation and emission reduction, operates compliantly, pays taxes according to law, actively participates in social welfare, and balances the interests of shareholders, customers, suppliers, employees, and society for shared success[91](index=91&type=chunk) [Significant Matters](index=23&type=section&id=Fifth%20Section%20Significant%20Matters) This section covers critical events and disclosures, including commitments, related party transactions, litigation, and other material issues affecting the company [I. Commitments Fulfilled and Overdue Unfulfilled by Actual Controller, Shareholders, Related Parties, Acquirers, and the Company During and as of the End of the Reporting Period](index=23&type=section&id=I.%20Commitments%20Fulfilled%20and%20Overdue%20Unfulfilled%20by%20Actual%20Controller%2C%20Shareholders%2C%20Related%20Parties%2C%20Acquirers%2C%20and%20the%20Company%20During%20and%20as%20of%20the%20End%20of%20the%20Reporting%20Period) This section states that the company had no commitments fulfilled or overdue unfulfilled by relevant parties during or as of the end of the reporting period - The company had no commitments fulfilled or overdue unfulfilled by relevant parties during the reporting period[93](index=93&type=chunk) [II. Non-Operating Funds Occupied by Controlling Shareholder and Other Related Parties from the Listed Company](index=23&type=section&id=II.%20Non-Operating%20Funds%20Occupied%20by%20Controlling%20Shareholder%20and%20Other%20Related%20Parties%20from%20the%20Listed%20Company) This section states that there were no non-operating funds occupied by the controlling shareholder or other related parties from the listed company during the reporting period - The company had no non-operating funds occupied by the controlling shareholder or other related parties from the listed company during the reporting period[94](index=94&type=chunk) [III. Illegal External Guarantees](index=23&type=section&id=III.%20Illegal%20External%20Guarantees) This section states that the company had no illegal external guarantees during the reporting period - The company had no illegal external guarantees during the reporting period[95](index=95&type=chunk) [IV. Appointment and Dismissal of Accounting Firms](index=23&type=section&id=IV.%20Appointment%20and%20Dismissal%20of%20Accounting%20Firms) This section states that the company's semi-annual financial report was unaudited - The company's semi-annual financial report was unaudited[96](index=96&type=chunk) [V. Board of Directors' and Supervisory Board's Explanation on 'Non-Standard Audit Report' for the Current Reporting Period](index=23&type=section&id=V.%20Board%20of%20Directors%27%20and%20Supervisory%20Board%27s%20Explanation%20on%20%27Non-Standard%20Audit%20Report%27%20for%20the%20Current%20Reporting%20Period) This section states that 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[98](index=98&type=chunk) [VI. Board of Directors' Explanation on 'Non-Standard Audit Report' for the Previous Year](index=24&type=section&id=VI.%20Board%20of%20Directors%27%20Explanation%20on%20%27Non-Standard%20Audit%20Report%27%20for%20the%20Previous%20Year) This section states that there were no relevant circumstances regarding a non-standard audit report for the previous year during the reporting period - There were no relevant circumstances regarding a non-standard audit report for the previous year during the reporting period[98](index=98&type=chunk) [VII. Bankruptcy Reorganization Matters](index=24&type=section&id=VII.%20Bankruptcy%20Reorganization%20Matters) This section states that no bankruptcy reorganization matters occurred for the company during the reporting period - No bankruptcy reorganization matters occurred for the company during the reporting period[98](index=98&type=chunk) [VIII. Litigation Matters](index=24&type=section&id=VIII.%20Litigation%20Matters) This section states that there were no significant litigation or arbitration matters for the company during the reporting period - There were no significant litigation or arbitration matters for the company during the reporting period[99](index=99&type=chunk) [IX. Penalties and Rectification](index=24&type=section&id=IX.%20Penalties%20and%20Rectification) This section states that there were no penalties or rectification situations for the company during the reporting period - There were no penalties or rectification situations for the company during the reporting period[100](index=100&type=chunk) [X. Integrity Status of the Company, its Controlling Shareholder, and Actual Controller](index=24&type=section&id=X.%20Integrity%20Status%20of%20the%20Company%2C%20its%20Controlling%20Shareholder%2C%20and%20Actual%20Controller) This section states that the company, its controlling shareholder, and actual controller maintain a good integrity status, with no inapplicable circumstances - The company, its controlling shareholder, and actual controller maintain a good integrity status[101](index=101&type=chunk) [XI. Significant Related Party Transactions](index=24&type=section&id=XI.%20Significant%20Related%20Party%20Transactions) This section discloses significant related party transactions during the reporting period, primarily routine operating transactions with the controlling shareholder within the estimated range, with no other major related party transactions - The company had no significant related party transactions related to daily operations during the reporting period, apart from the previously disclosed estimated routine related party transactions for 2025[101](index=101&type=chunk) - The company had no related party transactions involving asset or equity acquisitions/disposals, nor joint external investments during the reporting period[102](index=102&type=chunk)[103](index=103&type=chunk) - The company had no related party creditor-debtor transactions and no deposits, loans, credit lines, or other financial business with related financial companies during the reporting period[104](index=104&type=chunk)[105](index=105&type=chunk)[107](index=107&type=chunk) - The estimated routine related party transactions for 2025 did not exceed **10 million yuan**, and the actual amount incurred during the reporting period was within this estimate[108](index=108&type=chunk) [XII. Significant Contracts and Their Performance](index=25&type=section&id=XII.%20Significant%20Contracts%20and%20Their%20Performance) This section states that the company had no significant entrustment, contracting, leasing, major guarantees, or other major contracts during the reporting period, but discloses the amount of wealth management products initiated and outstanding - The company had no entrustment, contracting, or leasing matters during the reporting period[109](index=109&type=chunk) - The company had no significant guarantee situations during the reporting period[110](index=110&type=chunk) Wealth Management Products | Specific Type | Source of Funds for Wealth Management | Amount of Wealth Management Initiated (RMB 10,000) | Outstanding Balance (RMB 10,000) | Overdue Unrecovered Amount (RMB 10,000) | Impairment Provision for Overdue Unrecovered Wealth Management (RMB 10,000) | | :--- | :--- | :--- | :--- | :--- | :--- | | Bank Wealth Management Products | Own Funds | 4,500 | 4,500 | 0 | 0 | - The company had no other significant contracts during the reporting period[113](index=113&type=chunk) [XIII. Explanation of Other Significant Matters](index=26&type=section&id=XIII.%20Explanation%20of%20Other%20Significant%20Matters) This section states that there were no other significant matters requiring explanation for the company during the reporting period - There were no other significant matters requiring explanation for the company during the reporting period[114](index=114&type=chunk) [XIV. Significant Matters of Company Subsidiaries](index=26&type=section&id=XIV.%20Significant%20Matters%20of%20Company%20Subsidiaries) This section states that there were no significant matters concerning the company's subsidiaries during the reporting period - There were no significant matters concerning the company's subsidiaries during the reporting period[115](index=115&type=chunk) [Share Changes and Shareholder Information](index=26&type=section&id=Sixth%20Section%20Share%20Changes%20and%20Shareholder%20Information) This section outlines changes in the company's share capital, details of major shareholders, and any alterations in the controlling shareholder or actual controller [I. Share Fluctuation](index=26&type=section&id=I.%20Share%20Fluctuation) This section discloses the company's share changes during the reporting period, primarily a **1-share increase** in restricted shares and a **1-share decrease** in unrestricted shares due to executive identity lock adjustments, with total shares remaining constant Share Fluctuation | Item | Number Before Change (shares) | Increase/Decrease in Current Change (＋,－) | Number After Change (shares) | Proportion | | :--- | :--- | :--- | :--- | :--- | | I. Restricted Shares | 2,098,285 | +1 | 2,098,286 | 0.45% | | II. Unrestricted Shares | 468,151,715 | -1 | 468,151,714 | 99.55% | | III. Total Shares | 470,250,000 | 0 | 470,250,000 | 100.00% | - The reason for share fluctuation was an adjustment in executive identity lock[117](index=117&type=chunk) Changes in Restricted Shares | Shareholder Name | Restricted Shares at Beginning of Period (shares) | Restricted Shares Released in Current Period (shares) | Restricted Shares Increased in Current Period (shares) | Restricted Shares at End of Period (shares) | Reason for Restriction | Date of Release from Restriction | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Chen Hui | 1,958,713 | 0 | 0 | 1,958,713 | Director identity lock 75% | Adjusted annually based on holdings at year-end | | Chen Qiuhua | 139,572 | 0 | 1 | 139,573 | Director, senior executive identity lock 75% | Adjusted annually based on holdings at year-end | | **Total** | **2,098,285** | **0** | **1** | **2,098,286** | | | [II. Securities Issuance and Listing](index=27&type=section&id=II.%20Securities%20Issuance%20and%20Listing) This section states that there were no securities issuance or listing activities for the company during the reporting period - The company had no securities issuance or listing activities during the reporting period[119](index=119&type=chunk) [III. Number of Shareholders and Shareholding Information](index=27&type=section&id=III.%20Number%20of%20Shareholders%20and%20Shareholding%20Information) This section discloses that the company had **58,822** common shareholders at the end of the reporting period, with the controlling shareholder, Fujian Institute of Research on the Structure of Matter, holding **20.58%** - The total number of common shareholders at the end of the reporting period was **58,822**[120](index=120&type=chunk) Shareholding Information of Shareholders Holding 5% or More or Top 10 Shareholders | Shareholder Name | Shareholder Nature | Shareholding Ratio | Number of Shares Held at End of Reporting Period (shares) | Change in Current Period (shares) | Number of Restricted Shares Held (shares) | Number of Unrestricted Shares Held (shares) | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Fujian Institute of Research on the Structure of Matter, Chinese Academy of Sciences | State-owned Legal Person | 20.58% | 96,800,000 | 0 | 0 | 96,800,000 | | Guotai Fund - Industrial and Commercial Bank of China - Guotai Fund Gewu No. 1 Asset Management Plan | Other | 2.63% | 12,350,986 | 53,410 | 0 | 12,350,986 | | Bank of Communications Co., Ltd. - Yongying Semiconductor Industry Smart Selection Mixed Initiated Securities Investment Fund | Other | 1.23% | 5,800,000 | 4,409,700 | 0 | 5,800,000 | | Guotai Fund - Bank of Shanghai - Guotai Fund Gewu No. 2 Collective Asset Management Plan | Other | 0.97% | 4,548,520 | 120,100 | 0 | 4,548,520 | | Zhao Wei | Domestic Natural Person | 0.94% | 4,438,000 | 60,000 | 0 | 4,438,000 | | Hong Kong Securities Clearing Company Limited | Overseas Legal Person | 0.86% | 4,032,532 | -7,217,886 | 0 | 4,032,532 | | China Merchants Bank Co., Ltd. - Southern CSI 1000 Exchange Traded Index Securities Investment Fund | Other | 0.74% | 3,470,887 | 358,560 | 0 | 3,470,887 | | Guotai Fund - Bank of Beijing - Guotai Fund Ruiji No. 1 Collective Asset Management Plan | Other | 0.73% | 3,441,830 | 847,000 | 0 | 3,441,830 | | Industrial and Commercial Bank of China Co., Ltd. - Jinxin Stable Strategy Flexible Allocation Mixed Initiated Securities Investment Fund | Other | 0.63% | 2,960,000 | 970,000 | 0 | 2,960,000 | | Chen Hui | Domestic Natural Person | 0.56% | 2,611,618 | 0 | 1,958,713 | 652,905 | - Fujian Institute of Research on the Structure of Matter, Chinese Academy of Sciences, is the company's actual controller and controlling shareholder; Chen Hui is the company's chairman, and there is no related party relationship or concerted action relationship between them[121](index=121&type=chunk) [IV. Changes in Shareholdings of Directors, Supervisors, and Senior Management](index=28&type=section&id=IV.%20Changes%20in%20Shareholdings%20of%20Directors%2C%20Supervisors%2C%20and%20Senior%20Management) This section states that there were no changes in the shareholdings of the company's directors, supervisors, and senior management during the reporting period, referring to the 2024 annual report for details - The shareholdings of the company's directors, supervisors, and senior management did not change during the reporting period[123](index=123&type=chunk) [V. Changes in Controlling Shareholder or Actual Controller](index=29&type=section&id=V.%20Changes%20in%20Controlling%20Shareholder%20or%20Actual%20Controller) This section states that there were no changes in the company's controlling shareholder or actual controller during the reporting period - There were no changes in the company's controlling shareholder or actual controller during the reporting period[124](index=124&type=chunk) [VI. Preferred Share Information](index=29&type=section&id=VI.%20Preferred%20Share%20Information) This section states that the company had no preferred shares during the reporting period - The company had no preferred shares during the reporting period[125](index=125&type=chunk) [Bond-Related Information](index=29&type=section&id=Seventh%20Section%20Bond-Related%20Information) This section states that the company had no bond-related information during the reporting period - The company had no bond-related information during the reporting period[127](index=127&type=chunk) [Financial Report](index=29&type=section&id=Eighth%20Section%20Financial%20Report) This section presents the company's unaudited financial statements, including balance sheets, income statements, cash flow statements, and detailed notes on accounting policies and financial items [I. Audit Report](index=29&type=section&id=I.%20Audit%20Report) This section states that the company's semi-annual financial report was unaudited - The company's semi-annual financial report was unaudited[128](index=128&type=chunk) [II. Financial Statements](index=29&type=section&id=II.%20Financial%20Statements) This section provides the company's consolidated and parent company balance sheets, income statements, cash flow statements, and statements of changes in owners' equity for the first half of 2025, comprehensively presenting its financial position, operating results, and cash flows - Financial statements include consolidated balance sheet, parent company balance sheet, consolidated income statement, parent company income statement, consolidated cash flow statement, parent company cash flow statement, consolidated statement of changes in owners' equity, and parent company statement of changes in owners' equity[129](index=129&type=chunk)[132](index=132&type=chunk)[135](index=135&type=chunk)[137](index=137&type=chunk)[140](index=140&type=chunk)[142](index=142&type=chunk)[144](index=144&type=chunk)[151](index=151&type=chunk) [III. Company Basic Information](index=46&type=section&id=III.%20Company%20Basic%20Information) This section introduces the company's registration, organizational form, headquarters, business nature, main operations, and scope of consolidated financial statements, clarifying its basic information and consolidated entities for the reporting period - The company was listed on the SME Board of the Shenzhen Stock Exchange on March 19, 2008, with stock code 002222[156](index=156&type=chunk) - As of June 30, 2025, the company's total share capital was **470.25 million shares**, registered capital was **470.25 million yuan**, and the controlling shareholder was Fujian Institute of Research on the Structure of Matter[156](index=156&type=chunk) - The company's industry is optoelectronic components, with a business scope including new material technology R&D, optoelectronic device manufacturing and sales, and optical instrument manufacturing and sales[157](index=157&type=chunk)[158](index=158&type=chunk) Subsidiaries Included in Consolidated Financial Statements for Current Period | Subsidiary Name | Subsidiary Type | Level | Shareholding Ratio (%) | Voting Rights Ratio (%) | | :--- | :--- | :--- | :--- | :--- | | Qingdao Haite Optoelectronics Technology Co., Ltd. | Controlled Subsidiary | 1 | 73.33 | 73.33 | | Fujian Ruichuang Optoelectronics Technology Co., Ltd. | Controlled Subsidiary | 1 | 61.29 | 61.29 | | Fujian Huajing Investment Co., Ltd. | Wholly-Owned Subsidiary | 1 | 100.00 | 100.00 | | Fujian Zhiqiguangzi Technology Co., Ltd. | Controlled Subsidiary | 1 | 45.79 | 45.79 | - The company's financial report was approved by the Sixth Meeting of the Seventh Board of Directors on August 27, 2025[160](index=160&type=chunk) [IV. Basis of Financial Statement Preparation](index=47&type=section&id=IV.%20Basis%20of%20Financial%20Statement%20Preparation) This section explains that the financial statements are prepared in accordance with enterprise accounting standards and CSRC regulations, on a going concern basis, using the accrual basis and historical cost measurement principles - Financial statements are prepared in accordance with Enterprise Accounting Standards issued by the Ministry of Finance and CSRC's "Information Disclosure Compilation Rules for Companies Issuing Securities No. 15" [161](index=161&type=chunk) - The company evaluated its going concern ability for 12 months from the end of the reporting period, found no significant doubts, and prepared financial statements on a going concern basis[162](index=162&type=chunk) - Accounting is based on the accrual basis, and historical cost is used as the measurement basis, except for certain financial instruments measured at fair value[163](index=163&type=chunk) [V. Significant Accounting Policies and Estimates](index=48&type=section&id=V.%20Significant%20Accounting%20Policies%20and%20Estimates) This section details the company's significant accounting policies and estimates, covering business combinations, financial instruments, asset impairment, revenue recognition, and government grants, and highlights key estimates and assumptions that may significantly impact financial statements - The company determines specific accounting policies and estimates for inventory valuation, bad debt provisions for receivables, depreciation of fixed assets, amortization of intangible assets, and revenue recognition timing based on its production and operation characteristics[165](index=165&type=chunk) - Key accounting estimates and assumptions include provisions for bad debts on accounts receivable and other receivables, inventory impairment estimates, long-term asset impairment estimates, estimated useful lives and net salvage values of fixed assets, fair value of financial assets, and share-based payments[165](index=165&type=chunk)[166](index=166&type=chunk)[167](index=167&type=chunk) - The company's financial statements comply with enterprise accounting standards, accurately and completely reflecting its financial position, operating results, and cash flows[168](index=168&type=chunk) - The company defines a business cycle as 12 months and uses RMB as its functional currency[169](index=169&type=chunk)[170](index=170&type=chunk)[171](index=171&type=chunk) - Detailed accounting treatments for business combinations under common control and non-common control are explained, along with control criteria and consolidated financial statement preparation methods[173](index=173&type=chunk)[174](index=174&type=chunk)[175](index=175&type=chunk)[176](index=176&type=chunk)[177](index=177&type=chunk)[178](index=178&type=chunk)[179](index=179&type=chunk)[180](index=180&type=chunk)[181](index=181&type=chunk)[182](index=182&type=chunk)[183](index=183&type=chunk)[184](index=184&type=chunk) - Financial instruments are classified into three categories: measured at amortized cost, measured at fair value through other comprehensive income, and measured at fair value through profit or loss, with detailed explanations of recognition, measurement, and impairment methods[190](index=190&type=chunk)[191](index=191&type=chunk)[192](index=192&type=chunk)[193](index=193&type=chunk)[194](index=194&type=chunk)[195](index=195&type=chunk)[196](index=196&type=chunk)[197](index=197&type=chunk)[198](index=198&type=chunk)[199](index=199&type=chunk)[200](index=200&type=chunk)[201](index=201&type=chunk)[202](index=202&type=chunk)[203](index=203&type=chunk)[204](index=204&type=chunk)[206](index=206&type=chunk)[207](index=207&type=chunk)[208](index=208&type=chunk)[209](index=209&type=chunk)[210](index=210&type=chunk)[211](index=211&type=chunk) - Fixed assets are depreciated using the straight-line method, with buildings and structures depreciated over **30 years**, machinery and equipment over **10 years**, precious metals over **5-20 years**, transportation equipment over **10 years**, and office equipment over **5 years**[236](index=236&type=chunk) - Intangible assets include office software, land use rights, patents, and non-patented technologies, amortized using the straight-line method, with land use rights amortized over **50 years**, patents over **7-10 years**, and office software over **5 years**[245](index=245&type=chunk) - Revenue is recognized when the customer obtains control of the related goods or services, at the transaction price allocated to the performance obligation[263](index=263&type=chunk)[265](index=265&type=chunk) - Government grants are classified as asset-related or income-related; asset-related grants are recognized as deferred income and amortized over the asset's useful life, while income-related grants are recognized in profit or loss or offset against costs based on the compensation period[268](index=268&type=chunk)[269](index=269&type=chunk)[270](index=270&type=chunk) [VI. Taxation](index=88&type=section&id=VI.%20Taxation) This section discloses the company's and its subsidiaries' main tax categories and rates, detailing income tax preferential policies for high-tech enterprises, R&D expense super deduction, and VAT super deduction for advanced manufacturing enterprises Main Tax Categories and Rates | Tax Category | Tax Base | Tax Rate | | :--- | :--- | :--- | | Value-Added Tax | Value added during sales of goods | 9%, 13% | | Urban Maintenance and Construction Tax | Amount of turnover tax payable | 5% | | Enterprise Income Tax | Taxable income | 15% or 25% | | Education Surcharge | Amount of turnover tax payable | 3% | | Local Education Surcharge | Amount of turnover tax payable | 2% | - The company's headquarters, Qingdao Haite Optoelectronics Technology Co., Ltd., and Fujian Ruichuang Optoelectronics Technology Co., Ltd. are all recognized as high-tech enterprises, with an actual enterprise income tax rate of **15%** for 2025[282](index=282&type=chunk)[283](index=283&type=chunk)[284](index=284&type=chunk) - Manufacturing enterprises can enjoy a **100%** super deduction for R&D expenses before tax, and intangible assets formed are amortized at **200%** of cost before tax[284](index=284&type=chunk) - The company and some subsidiaries enjoy a **5%** additional deduction for input VAT for advanced manufacturing enterprises[285](index=285&type=chunk) [VII. Notes to Consolidated Financial Statement Items](index=89&type=section&id=VII.%20Notes%20to%20Consolidated%20Financial%20Statement%20Items) This section provides detailed notes on major consolidated financial statement items, including monetary funds, trading financial assets, accounts receivable, inventories, fixed assets, construction in progress, intangible assets, short-term borrowings, accounts payable, employee compensation payable, operating revenue, and costs, with period-end and period-beginning balances and explanations Monetary Funds | Item | Ending Balance (yuan) | Beginning Balance (yuan) | | :--- | :--- | :--- | | Cash on Hand | 287,996.55 | 375,350.23 | | Bank Deposits | 322,979,284.96 | 290,841,820.14 | | Other Monetary Funds | 19,179,763.12 | 19,917,073.56 | | **Total** | **342,447,044.63** | **311,134,243.93** | - Of other monetary funds, **18,830,788.60 yuan** is for letter of guarantee deposits, which are restricted cash[288](index=288&type=chunk) Operating Revenue and Operating Cost | Item | Current Period Revenue (yuan) | Current Period Cost (yuan) | Prior Period Revenue (yuan) | Prior Period Cost (yuan) | | :--- | :--- | :--- | :--- | :--- | | Main Business | 518,219,165.22 | 253,712,432.34 | 438,785,852.03 | 194,851,006.10 | | Other Business | 844,205.93 | 795,151.85 | 710,358.77 | 277,119.95 | | **Total** | **519,063,371.15** | **254,507,584.19** | **439,496,210.80** | **195,128,126.05** | R&D Expenses | Item | Current Period Amount (yuan) | Prior Period Amount (yuan) | | :--- | :--- | :--- | | Personnel Costs | 29,663,244.38 | 27,034,543.38 | | Direct Input | 15,332,483.49 | 9,212,434.40 | | Depreciation and Amortization of Long-Term Expenses | 7,281,794.34 | 6,013,468.60 | | Testing and Laboratory Processing Fees | 590,518.25 | 231,840.94 | | Travel Expenses | 111,442.71 | 191,057.39 | | Intellectual Property Fees | 281,555.86 | 169,463.79 | | Entertainment Expenses | 1,684.00 | 15,530.51 | | Other Expenses | 657,782.42 | 642,633.66 | | **Total** | **53,920,505.45** | **43,510,972.67** | Reconciliation of Net Cash Flow from Operating Activities | Supplementary Information | Current Period Amount (yuan) | Prior Period Amount (yuan) | | :--- | :--- | :--- | | Net Profit | 138,086,016.67 | 114,328,732.64 | | Add: Asset Impairment Provisions | 3,280,025.51 | 4,501,565.18 | | Depreciation of Fixed Assets, Depletion of Oil and Gas Assets, Depreciation of Productive Biological Assets | 35,013,641.54 | 30,306,879.87 | | Depreciation of Right-of-Use Assets | 5,493,143.05 | 3,372,144.00 | | Amortization of Intangible Assets | 1,653,079.39 | 1,227,046.46 | | Amortization of Long-Term Deferred Expenses | 4,900,412.76 | 4,686,344.89 | | Losses (Gains are indicated by "－") from Disposal of Fixed Assets, Intangible Assets, and Other Long-Term Assets | -36,489.80 | 73,890.13 | | Losses (Gains are indicated by "－") from Scrapping Fixed Assets | 45,269.34 | 115,568.43 | | Fair Value Change Losses (Gains are indicated by "－") | -1,121,968.34 | 11,759,303.63 | | Financial Expenses (Gains are indicated by "－") | 1,276,632.57 | 303,686.69 | | Investment Losses (Gains are indicated by "－") | -3,067,351.89 | -1,324,431.66 | | Decrease in Deferred Income Tax Assets (Increase is indicated by "－") | 1,117,148.18 | 2,891,334.25 | | Increase in Deferred Income Tax Liabilities (Decrease is indicated by "－") | -984,432.41 | -1,639,571.14 | | Decrease in Inventories (Increase is indicated by "－") | -10,252,409.26 | -43,886,509.08 | | Decrease in Operating Receivables (Increase is indicated by "－") | -50,949,653.27 | -69,790,247.60 | | Increase in Operating Payables (Decrease is indicated by "－") | 10,977,907.30 | 31,271,674.02 | | **Net Cash Flow from Operating Activities** | **135,430,971.34** | **88,197,410.71** | [VIII. Research and Development Expenses](index=117&type=section&id=VIII.%20Research%20and%20Development%20Expenses) This section discloses the company's total R&D expenses for the reporting period as **53.92 million yuan**, all expensed, representing a **23.92% increase** year-on-year, reflecting continuous commitment to R&D investment R&D Expenses | Item | Current Period Amount (yuan) | Prior Period Amount (yuan) | | :--- | :--- | :--- | | R&D Expenses | 53,920,505.45 | 43,510,972.67 | | **Total** | **53,920,505.45** | **43,510,972.67** | | Of which: Expensed R&D Expenditure | 53,920,505.45 | 43,510,972.67 | - All R&D expenditures for the current period were expensed, with no capitalized R&D expenditures[450](index=450&type=chunk) [IX. Changes in Consolidation Scope](index=117&type=section&id=IX.%20Changes%20in%20Consolidation%20Scope) This section states that there were no changes in the company's consolidation scope during the reporting period - There were no changes in the company's consolidation scope during the reporting period[451](index=451&type=chunk) [X. Interests in Other Entities](index=117&type=section&id=X.%20Interests%20in%20Other%20Entities) This section details the company's interests in subsidiaries, joint ventures, and associates, including the group structure, financial information of significant non-wholly-owned subsidiaries, and key financial data of important associates, clarifying control and sign

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