天津捷强动力装备股份有限公司 2025 年半年度报告全文 天津捷强动力装备股份有限公司 2025 年半年度报告 2025-033 2025 年 8 月 27 日 1 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、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。 公司负责人潘淇靖、主管会计工作负责人潘淇靖及会计机构负责人(会计 主管人员)纪滋强声明：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。 本报告中如有涉及未来计划、发展战略等前瞻性陈述，均不构成公司对 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，敬请投资者注意投资风险。 本公司请投资者认真阅读本报告，公司在本报告"第三节 管理层讨论与 分析"中"十、公司面临的风险和应对措施"部分，详细描述了公司未来经 营中可能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。 2 | P | N | | --- | --- | | 7 | | | 第二节 | 公司简 ...

北京博睿宏远数据科技股份有限公司2025 年半年度报告 公司代码：688229 公司简称：博睿数据 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、 公司负责人李凯、主管会计工作负责人王辉及会计机构负责人（会计主管人员）王晓杰声 明：保证半年度报告中财务报告的真实、准确、完整。 北京博睿宏远数据科技股份有限公司 2025 年半年度报告 1 / 180 北京博睿宏远数据科技股份有限公司2025 年半年度报告 重要提示 一、 本公司董事会及董事、高级管理人员保证半年度报告内容的真实性、准确性、完整性，不 存在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 二、 重大风险提示 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"。 （一）本报告中涉及的未来计划、发展战略等前瞻性陈述因存在不确定性，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。 （二）本半年度报告中所援引的行业数据均来自第三方机构出版、发布的资料，这些机构包括但 不限于IDC以及其他公开渠道获取的相关数据等。提请广大投资者注意： 1、本半年度报告 ...

青岛海尔生物医疗股份有限公司2025 年半年度报告 公司代码：688139 公司简称：海尔生物 青岛海尔生物医疗股份有限公司 2025 年半年度报告 * [16] A. A. K. 1 / 198 青岛海尔生物医疗股份有限公司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、 公司负责人刘占杰、主管会计工作负责人莫瑞娟及会计机构负责人（会计主管人员）穆乃 娟声明：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 公司半年度报告中涉及公司未来计划、发展战略等前瞻性陈述，不构成公 ...

北京昭衍新药研究中心股份有限公司 2025 年半年度报告 公司代码：603127 公司简称：昭衍新药 北京昭衍新药研究中心股份有限公司 2025 年半年度报告 1 / 165 北京昭衍新药研究中心股份有限公司 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、 公司负责人冯宇霞、主管会计工作负责人于爱水 及会计机构负责人（会计主管人员）于爱 水声明：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 本报告中所涉及的未来计划、发展战略等前瞻性描述不构成本公司对投资者的承诺，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 ...

雅本化学股份有限公司 2025 年半年度报告全文 雅本化学股份有限公司 ABA CHEMICALS CORPORATION 2025 年半年度报告 股票代码：300261 股票简称：雅本化学 披露日期：2025 年 8 月 27 日 1 雅本化学股份有限公司 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、董事及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。 公司负责人蔡彤、主管会计工作负责人王爱军及会计机构负责人(会计主 管人员)汤小新声明：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。 公司存在市场竞争加剧风险、新项目投资建设风险、汇率风险，详细内容 见本报告"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" 部分。敬请广大投资者注意投资风险。 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 | 第二节 | 公司简介和主要财务指标 | 7 | | --- | --- | --- | | 第三节 | 管理层讨论与分析 | 10 | | 第四 ...

大连电瓷集团股份有限公司 2025 年半年度报告全文 大连电瓷集团股份有限公司 2025 年半年度报告 二〇二五年八月 1 大连电瓷集团股份有限公司 2025 年半年度报告全文 第一节 重要提示、目录和释义 公司董事会及董事、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。 公司负责人应坚、主管会计工作负责人李军及会计机构负责人(会计主管 人员)韩霄声明：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，敬请投资者注意投资风险。 公司存在的有关主要风险因素及公司应对措施等详见本报告第三节"管理 层讨论与分析"中"十、公司面临的风险和应对措施"，提请投资者注意阅 读。 公司经本次董事会审议通过的利润分配预案为：以公司截至 2025 年 6 月 30 日总股本 439,073,220 股，扣除公司回购专用证券账户内的 4,279,4 ...

营口风光新材料股份有限公司 2025 年半年度报告全文 营口风光新材料股份有限公司 2025 年半年度报告 B2025-002 【2025.8.27】 1 营口风光新材料股份有限公司 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。 公司负责人王磊、主管会计工作负责人刘淼及会计机构负责人(会计主管 人员)刘淼声明：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。 1、原材料采购成本上涨的风险。国际大宗商品价格及国内外市场供应情 况对公司原材料采购成本有较大影响，加之全球多处地缘政治局势紧张，以 上因素将使公司原材料采购价格不确定性增大。因此需关注原材料成本上涨 所带来的风险。 2、环保和安全生产的风险。公司在产品生产过程使用部分易燃易爆化工 原材料，若公司经营管理不当或安全环保措施不到位，则可能发生环保和安 全事故，可能给公司财产、员工人身安全和周边环境带来不利影响。另外， 虽然公司一直严格执行有关安全 ...

金鹰重型工程机械股份有限公司 2025 年半年度报告全文 金鹰重型工程机械股份有限公司 2025 年半年度报告 2025 年 8 月 1 金鹰重型工程机械股份有限公司 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。 公司负责人张伟、主管会计工作负责人雷震及会计机构负责人(会计主管 人员)陈青声明：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。 本报告中如有涉及未来等前瞻性内容属于计划性事项，能否实现取决于 市场状况变化等多种因素，存在不确定性，并不代表公司对未来的盈利预测， 也不构成公司对投资者及相关人士的实质性承诺。投资者及相关人士均应对 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，敬请 投资者注意投资风险。公司在本报告第三节"管理层讨论与分析"中"十、 公司面临的风险和应对措施"部分，描述了公司未来经营中可能面临的风险， 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 ...

金埔园林股份有限公司 2025 年半年度报告全文 金埔园林股份有限公司 2025 年半年度报告 2025-102 1 金埔园林股份有限公司 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。 公司负责人王宜森、主管会计工作负责人刘明及会计机构负责人(会计主 管人员)蒋光篡声明：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。 本报告中如有涉及未来的计划、业绩预测等前瞻性陈述内容，均不构成 本公司对投资者及相关人士的实质承诺，投资者及相关人士均应对此保持足 够的风险认识，并且应当理解计划、预测与承诺之间的差异。 公司在本报告第三节"管理层讨论与分析"之"十、公司面临的风险和 应对措施"，详细描述了公司经营中可能存在的风险及应对措施，敬请投资 者关注相关内容。 公司计划不派发现金红利，不送红股，不以公积金转增股本。 2025 年 8 月 27 日 2 | | | 金埔园林股份有限公司 2025 年半年度报告全 ...

[Section I Important Notice, Table of Contents and Definitions](index=3&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) [Important Notice](index=3&type=section&id=%E9%87%8D%E8%A6%81%E6%8F%90%E7%A4%BA) The company's board and senior management declare the half-yearly report's truthfulness, accuracy, and completeness, advising investors of risks, with no plans for cash dividends, bonus shares, or capital reserve conversions this half-year - The company plans no cash dividends, no bonus shares, and no capital reserve conversions to share capital[8](index=8&type=chunk) [Table of Contents](index=4&type=section&id=%E7%9B%AE%E5%BD%95) This section lists the half-yearly report's structure, including key chapters like important notice, company profile, management discussion and analysis, corporate governance, significant matters, share changes and shareholder information, bond-related matters, and financial reports, along with their starting page numbers [Definitions](index=6&type=section&id=%E9%87%8A%E4%B9%89) This section defines common terms and abbreviations used in the report, covering company names, key personnel, reporting period, currency units, and specialized vocabulary related to core businesses such as HVLS fans and lithium-ion battery technology applications - **HVLS Fan**: Refers to large fans with high air volume and low speed (generally below **100 rpm**), often called "(super) large industrial fans" or "(super) large energy-saving fans"[13](index=13&type=chunk) - **Permanent Magnet Synchronous Motor**: A synchronous motor that generates a synchronous rotating magnetic field using permanent magnets, characterized by high energy efficiency[13](index=13&type=chunk) - **Commercial and Industrial Energy Storage**: Energy storage systems used in industrial or commercial terminals, primarily aimed at achieving investment returns by leveraging peak-valley electricity price differences and meeting internal power demands of commercial and industrial users[14](index=14&type=chunk) - **Lightweight Power Battery Pack**: High-performance lithium-ion battery systems designed specifically for mobile devices and portable tools, featuring small size, light weight, and high energy density[14](index=14&type=chunk) - **UPS**: Uninterruptible Power Supply, serving as critical backup power equipment to ensure continuous and stable operation of devices when the main power fails[14](index=14&type=chunk) [Section II Company Profile and Key Financial Indicators](index=8&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) [1. Company Profile](index=8&type=section&id=%E4%B8%80%E3%80%81%E5%85%AC%E5%8F%B8%E7%AE%80%E4%BB%8B) The company's stock abbreviation is "Kailer Shares", stock code 301070, listed on the Shenzhen Stock Exchange; during the reporting period, its registered capital changed from RMB 64.5552 million to RMB 90.22984 million, with a corresponding increase in share capital - Company stock abbreviation: **Kailer Shares**, stock code: **301070**, listed on: Shenzhen Stock Exchange[16](index=16&type=chunk) - The company approved resolutions on July 10 and July 28, 2025, to change its registered capital and amend the "Articles of Association", increasing registered capital from **RMB 64,555,200** to **RMB 90,229,840**, and share capital from **64,555,200 shares** to **90,229,840 shares**[22](index=22&type=chunk) [4. Key Accounting Data and Financial Indicators](index=9&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) During this reporting period, the company's operating revenue decreased by 17.89% year-on-year, but net profit attributable to shareholders increased by 280.42%, primarily due to improved net cash flow from operating activities and a retrospective adjustment of prior-year earnings per share Key Accounting Data and Financial Indicators (Current Period vs. Prior Year) | Indicator | Current Period (RMB) | Prior Year (Adjusted) (RMB) | Change (%) | | :--- | :--- | :--- | :--- | | Operating Revenue | 136,912,893.76 | 166,739,495.77 | -17.89% | | Net Profit Attributable to Shareholders of Listed Company | 10,919,259.01 | 2,870,285.00 | 280.42% | | Net Profit Attributable to Shareholders of Listed Company (Excluding Non-recurring Gains/Losses) | 8,434,198.70 | -1,536,703.87 | 648.85% | | Net Cash Flow from Operating Activities | -21,210,316.27 | -37,282,138.30 | 43.11% | | Basic Earnings Per Share (RMB/share) | 0.1212 | 0.0318 | 281.13% | | Diluted Earnings Per Share (RMB/share) | 0.1208 | 0.0316 | 282.28% | | Weighted Average Return on Net Assets | 1.41% | 0.35% | 1.06% | | Total Assets (Period-end) | 926,705,501.30 | 958,274,315.91 | -3.29% | | Net Assets Attributable to Shareholders of Listed Company (Period-end) | 775,097,757.91 | 779,163,822.91 | -0.52% | - The adjustment to prior-year earnings per share was due to the company's completion of share repurchase and capital reserve conversion to share capital during the reporting period, recalculating prior-year indicators[23](index=23&type=chunk) [6. Non-recurring Gains and Losses Items and Amounts](index=10&type=section&id=%E5%85%AD%E3%80%81%E9%9D%9E%E7%BB%8F%E5%B8%B8%E6%8D%9F%E7%9B%8A%E9%A1%B9%E7%9B%AE%E5%8F%8A%E9%87%91%E9%A2%9D) Total non-recurring gains and losses for this reporting period amounted to RMB 2,485,060.31, mainly including disposal gains/losses of non-current assets, government grants, fair value changes and disposal gains/losses of financial assets and liabilities Non-recurring Gains and Losses Items and Amounts | Item | Amount (RMB) | | :--- | :--- | | Disposal gains/losses of non-current assets | 34,367.02 | | Government grants recognized in current profit or loss (excluding those closely related to the company's normal business operations and continuously enjoyed under national policies) | 1,956,394.86 | | Gains/losses from changes in fair value of financial assets and liabilities held by non-financial enterprises, and disposal gains/losses of financial assets and liabilities | 1,312,787.91 | | Debt restructuring gains/losses | 300.00 | | Other non-operating income and expenses apart from the above | 18,758.23 | | Less: Income tax impact | 536,300.69 | | Minority interest impact (after tax) | 301,247.02 | | **Total** | **2,485,060.31** | [Section III Management Discussion and Analysis](index=11&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) [1. Company's Main Business Activities During the Reporting Period](index=11&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 primarily operates in HVLS fans and lithium-ion battery technology applications, actively expanding into artificial intelligence, achieving a strategic transformation from traditional manufacturing to "AI+ new quality productive forces" through strategic cooperation with Yuzi Group, forming a dual-driven business structure - The company's main businesses cover HVLS fan business, and lithium-ion battery technology application business (including commercial and industrial energy storage, lightweight power battery packs, UPS backup power)[32](index=32&type=chunk) - Through deep cooperation with Henan Zhongyu Industrial Investment Group Co., Ltd. (Yuzi Group), the company focuses on artificial intelligence with Yuzi Kailer as the vehicle, achieving an overall strategic transformation from traditional manufacturing to "new quality productive forces" represented by AI+[47](index=47&type=chunk) - The company has now formed a dual-driven business structure with HVLS fans and lithium-ion battery technology applications as foundational businesses and artificial intelligence as the second growth curve[47](index=47&type=chunk) [(I) Industry Overview](index=11&type=section&id=%EF%BC%88%E4%B8%80%EF%BC%89%E5%85%AC%E5%8F%B8%E6%89%80%E5%A4%84%E8%A1%8C%E4%B8%9A%E6%83%85%E5%86%B5) The HVLS fan industry has experienced rapid domestic development and overseas market expansion, benefiting from energy conservation, emission reduction, and labor safety policies; the lithium-ion battery technology application industry shows high growth in commercial and industrial energy storage, lightweight power battery packs, and UPS backup power, with strong domestic and international market demand - HVLS fan industry development: From foreign manufacturer dominance to domestic manufacturer rise, then to overseas market expansion, Chinese brands show strong international competitiveness[33](index=33&type=chunk) - The HVLS fan industry benefits from policies such as "energy conservation and emission reduction", "dual carbon strategy", and "labor safety and health conditions", expanding application scenarios to agricultural breeding, sports and fitness, schools, hospitals, and other public areas[36](index=36&type=chunk)[37](index=37&type=chunk) - The commercial and industrial energy storage industry entered a rapid development phase in 2023, with new installed capacity of new energy storage increasing by **69.4%** year-on-year in the first half of 2025, continuous policy support, and high overseas market demand[41](index=41&type=chunk)[42](index=42&type=chunk) - Global shipments of lightweight power battery packs achieved a compound annual growth rate of **51.8%** from 2020-2024, with the Chinese market's compound annual growth rate reaching **50.9%**, benefiting from new national standards, the sharing economy, and lead-acid battery replacement[43](index=43&type=chunk) - The UPS backup power market in China is projected to grow at a compound annual growth rate of **9.2%** from 2023-2026, higher than the global level, driven by the "carbon neutrality" strategy and the "East Data West Computing" project[44](index=44&type=chunk)[45](index=45&type=chunk) [(II) Company's Main Business Activities](index=12&type=section&id=%EF%BC%88%E4%BA%8C%EF%BC%89%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 primarily engages in R&D, production, sales, installation, and technical services of HVLS fans, and has expanded into lithium-ion battery application technology, offering solutions for commercial and industrial energy storage, lightweight power battery packs, and UPS backup power; concurrently, the company, through Yuzi Kailer, focuses on artificial intelligence, building full-stack AI agent solutions - HVLS fan products are categorized into asynchronous motor and permanent magnet synchronous motor HVLS fans, characterized by large coverage area, three-dimensional gentle breeze effect, energy efficiency, low noise, safety, aesthetics, and durability, primarily used to improve building ventilation, regulate environmental humidity, and enhance human comfort[48](index=48&type=chunk)[49](index=49&type=chunk)[51](index=51&type=chunk) - Lithium-ion battery technology applications, centered on BMS, EMS, and PACK, provide solutions such as commercial and industrial energy storage (e.g., "Qiji 233kWh" and "HULK 200" energy storage cabinets), UPS backup power (e.g., 5C high-rate discharge products), and lightweight power battery packs (e.g., AGV robots, electric forklift battery packs)[52](index=52&type=chunk)[53](index=53&type=chunk)[55](index=55&type=chunk)[57](index=57&type=chunk) - The company conducts artificial intelligence-related business through Yuzi Kailer, developing full-stack solutions based on AI agents through private computing power deployment and customized AI application model development, gradually forming a business landscape of smart government, smart healthcare, and smart mobility with multi-technology integration[67](index=67&type=chunk) [3. Business Model](index=15&type=section&id=3%E3%80%81%E7%BB%8F%E8%90%A5%E6%A8%A1%E5%BC%8F) The company adopts an independent R&D model, a production-driven procurement model, a production model primarily based on self-manufacturing with supplementary contract manufacturing, and a sales model combining direct sales and distribution, complemented by a comprehensive after-sales service system to meet market demand and optimize operational efficiency - R&D Model: Centered on independent R&D, with a professional R&D team and independent experimental center, continuously launching new products and solutions[59](index=59&type=chunk) - Procurement Model: Adopts "procurement based on production, moderate stocking", establishing a comprehensive supplier management system, and reducing costs through scale and centralized procurement[60](index=60&type=chunk) - Production Model: Primarily self-manufacturing, supplemented by contract manufacturing, possessing advanced equipment and technical processes, focusing on quality control and environmentally friendly production[61](index=61&type=chunk) - Sales Model: Domestically, direct sales are primary, supplemented by distribution; overseas, distribution is primary, supplemented by direct sales, accelerating global expansion by establishing offices and subsidiaries, and providing comprehensive after-sales service[62](index=62&type=chunk) [(III) Strategic Transformation Layout](index=15&type=section&id=(%E4%B8%89)%E6%88%98%E7%95%A5%E8%BD%AC%E5%9E%8B%E5%B8%83%E5%B1%80) Supported by national AI policies, the company deepens strategic cooperation with Zhongyu Industrial Investment Group, using Yuzi Kailer as a vehicle to deploy private computing power and develop customized AI models, focusing on smart office, smart healthcare, and smart mobility scenarios, driving the company's transformation towards AI+ new quality productive forces - AI Application Transformation Background: The state highly values AI industry development as a crucial strategic engine for high-quality economic growth; the company deepens cooperation with Henan Zhongyuan Yuzi Investment Holding Group Co., Ltd. (Yuzi Group) to jointly promote AI technology deployment across multiple industrial sectors[63](index=63&type=chunk)[64](index=64&type=chunk)[65](index=65&type=chunk)[66](index=66&type=chunk) - Business Layout: With Yuzi Kailer as the vehicle, the company develops full-stack solutions based on AI agents through private computing power deployment and customized AI application model development, forming a business landscape of smart government, smart healthcare, and smart mobility with multi-technology integration[67](index=67&type=chunk) - Smart Office: Through its subsidiary, Shanghai Shenyan Future Intelligent Technology Co., Ltd., the company focuses on high-security demand areas such as government, enterprises, healthcare, and education, building full-process service capabilities[68](index=68&type=chunk) - Smart Healthcare: Through its subsidiary, Shanghai Huizhi Lingxi Digital Technology Co., Ltd., the company provides medical AI solutions, already deployed in several top-tier hospitals and engaged in scientific research cooperation[69](index=69&type=chunk) - Smart Mobility: In cooperation with Henan Automobile Industry Investment Group Co., Ltd., the company is building a smart mobility operation service platform, promoting the application of autonomous driving technology in the automotive sector[70](index=70&type=chunk)[71](index=71&type=chunk) [2. Analysis of Core Competitiveness](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 builds significant core competitive advantages through technological innovation, brand and industry leadership, diversified marketing strategies, deep customer resources, and professional operation and maintenance services in the HVLS fan sector, while actively applying AI technology to traditional industries to enhance operational efficiency and asset value - Technology R&D and Innovation: The company is a "High-Tech Enterprise" and a Shanghai "Specialized, Refined, Unique, and New" SME, possessing a strong R&D team, achieving breakthroughs in fluid dynamics, permanent magnet synchronous, and other technical fields, and building an industry-leading cross-platform intelligent control system for HVLS fans, utilizing AI-driven data analysis to enhance operational efficiency[72](index=72&type=chunk)[73](index=73&type=chunk) - Brand and Industry Position: The company deeply cultivates the HVLS fan sector, with business covering over **100 countries and regions** globally, ranking among the top in domestic production and sales scale, adhering to a "green, low-carbon, environmentally friendly" brand philosophy[39](index=39&type=chunk)[74](index=74&type=chunk) - Diversified Marketing Strategy: Domestically, direct sales are primary, supplemented by distribution; overseas, a "distribution + direct sales" dual-track model is adopted, accelerating global expansion by establishing offices and subsidiaries, and integrating traditional and internet promotion methods[75](index=75&type=chunk) - Deep Customer Resource Advantage: Accumulated tens of thousands of commercial and industrial customers, establishing a solid foundation in mechanical processing, vehicle manufacturing, warehousing and logistics, forming a word-of-mouth communication chain[76](index=76&type=chunk) - Operation and Maintenance Service Advantage: A professional, highly efficient operation and maintenance service team provides timely, professional, and integrated installation and O&M service solutions, strengthening customer relationships[77](index=77&type=chunk)[78](index=78&type=chunk) [3. Analysis of Main Business](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) During the reporting period, the company achieved operating revenue of RMB 136.9129 million and net profit attributable to the parent company of RMB 10.9193 million, a year-on-year increase of 280.42%; the company continued innovation in HVLS fans, with overseas revenue increasing to 32.61% of total revenue; in strategic transformation, smart office and smart healthcare businesses made positive progress, and internal control management and intellectual property development were strengthened - During the reporting period, the company achieved operating revenue of **RMB 136.9129 million**; net profit attributable to the parent company was **RMB 10.9193 million**, a year-on-year increase of **280.42%**[79](index=79&type=chunk) - HVLS Fan Business: Independently developed the **8.2-meter diameter "Fenghua Large Fan"** and achieved small-batch production, currently the largest mass-produced fan product on the market; launched a dual-mode IoT deep integration intelligent control system with domestic 4G and overseas Wifi versions[80](index=80&type=chunk) - Internationalization Strategy: In the first half of 2025, the company achieved overseas revenue of **RMB 44.6446 million**, with its proportion of total operating revenue further increasing to **32.61%**, an increase of **11.69 percentage points** compared to the same period last year[80](index=80&type=chunk) - AI Strategic Transformation: In smart office, Shenyan Future, in collaboration with People.cn, released the first large model intelligent government office platform; in smart healthcare, Huizhi Lingxi developed a medical large model training and inference integrated platform, already deployed in several top-tier hospitals[81](index=81&type=chunk) - Internal Control Management: Total period expenses decreased by **20.36%** year-on-year, reducing cost expenditures by **RMB 13.1644 million**[82](index=82&type=chunk) - Intellectual Property: As of the end of the reporting period, the company had accumulated **214 types of intellectual property rights**, including **7 invention patents**, **146 utility model patents**, **11 design patents**, and **50 software copyrights**[82](index=82&type=chunk) Year-on-Year Changes in Key Financial Data | Indicator | Current Period (RMB) | Prior Year (RMB) | Year-on-Year Change (%) | Reason for Change | | :--- | :--- | :--- | :--- | :--- | | Operating Revenue | 136,912,893.76 | 166,739,495.77 | -17.89% | Impact of market environment, decrease in business volume | | Operating Costs | 76,132,941.95 | 102,794,219.23 | -25.94% | Decrease in business volume and lower material procurement costs | | Selling Expenses | 20,111,261.16 | 26,853,242.11 | -25.11% | Decrease in sales personnel costs and advertising expenses | | Administrative Expenses | 24,626,743.49 | 24,889,818.68 | -1.06% | Decrease in share-based payment accrual | | Financial Expenses | -1,416,497.73 | -30,791.09 | -4500.35% | Increase in interest income | | Income Tax Expenses | 486,186.64 | 1,554,261.04 | -68.72% | Decrease in income tax due to offsetting prior year's losses with operating profit | | R&D Investment | 8,183,022.18 | 12,956,709.38 | -36.84% | Decrease in R&D investment in new energy business | | Net Cash Flow from Operating Activities | -21,210,316.27 | -37,282,138.30 | 43.11% | Decrease in cash payments for expenses | | Net Cash Flow from Investing Activities | 54,358,266.13 | 77,513,092.67 | -29.87% | Decrease in cash management of idle funds | | Net Cash Flow from Financing Activities | -22,134,372.00 | -10,061,425.59 | -119.99% | Share repurchase expenditure | | Net Increase in Cash and Cash Equivalents | 10,662,607.18 | 30,364,032.62 | -64.88% | Decrease in cash flows from investing and financing activities | Product or Service Accounting for Over 10% of Revenue | Product or Service | Operating Revenue (RMB) | Operating Costs (RMB) | Gross Profit Margin (%) | Year-on-Year Change in Operating Revenue (%) | Year-on-Year Change in Operating Costs (%) | Year-on-Year Change in Gross Profit Margin (%) | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | HVLS | 106,866,191.70 | 55,393,448.37 | 48.17% | -8.37% | -14.50% | 3.72% | [4. Analysis of Non-Core Business](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) Non-core business contributed 14.24% to total profit in this reporting period, mainly from bank wealth management income, but such income is not sustainable Non-Core Business Analysis | Item | Amount (RMB) | Proportion of Total Profit (%) | Explanation of Formation | Sustainability | | :--- | :--- | :--- | :--- | :--- | | Investment Income | 1,389,023.10 | 14.24% | Bank wealth management income | No | | Gains/losses from changes in fair value | -22,670.46 | -0.23% | Accrued expected returns on wealth management products | No | | Asset impairment | 50,003.02 | 0.51% | Increase in period-end balance of contract quality assurance deposits, increase in impairment provisions | No | | Non-operating income | 23,088.64 | 0.24% | Received small miscellaneous compensation | No | | Non-operating expenses | 12,594.19 | 0.13% | Loss from disposal of fixed assets | No | [5. 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) At the end of the reporting period, both the company's total assets and net assets attributable to shareholders slightly decreased; monetary funds and accounts receivable increased, while trading financial assets and long-term borrowings significantly decreased, reflecting adjustments in the company's capital management and debt structure Significant Changes in Asset Composition | Item | Period-end Amount (RMB) | Proportion of Total Assets (%) | Prior Year-end Amount (RMB) | Proportion of Total Assets (%) | Change in Proportion (%) | Explanation of Significant Change | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Monetary Funds | 249,925,201.95 | 26.97% | 213,825,047.54 | 22.31% | 4.66% | Redemption of wealth management products at period-end | | Accounts Receivable | 72,776,873.72 | 7.85% | 54,338,433.30 | 5.67% | 2.18% | Q2 sales peak, concentrated and large sales revenue | | Inventory | 56,784,406.24 | 6.13% | 60,676,825.75 | 6.33% | -0.20% | Improved inventory turnover efficiency, reduced stocking | | Short-term Borrowings | 10,511,988.51 | 1.13% | 945,258.18 | 0.10% | 1.03% | Borrowed funds for share repurchase | | Long-term Borrowings | 4,033,303.08 | 0.44% | 32,303,807.34 | 3.37% | -2.93% | Long-term borrowings reclassified to non-current liabilities due within one year as repayment date approaches | | Trading Financial Assets | 95,874,210.71 | 10.35% | 176,405,193.81 | 18.41% | -8.06% | Redemption of wealth management products | | Treasury Stock | 20,090,767.81 | 2.17% | 1,998,331.00 | 0.21% | 1.96% | Increase due to share repurchase | Assets and Liabilities Measured at Fair Value | Item | Period-end Amount (RMB) | | :--- | :--- | | Trading Financial Assets | 95,874,210.71 | | Other Debt Investments | 15,392,400.00 | | Other Non-current Financial Assets | 13,000,000.00 | | Accounts Receivable Financing | 3,715,901.39 | | **Total** | **127,982,512.10** | Asset Rights Restricted as of the End of the Reporting Period | Item | Period-end Book Balance (RMB) | Restricted Type | Reason for Restriction | | :--- | :--- | :--- | :--- | | Monetary Funds | 16,224,035.47 | Pledge, Freeze | Bank acceptance bill margin, ETC margin, litigation frozen deposits | | Fixed Assets | 7,899,541.58 | Mortgage | Mortgage guarantee for lease | | Intangible Assets | 13,978,140.57 | Mortgage | Mortgage guarantee for borrowings | | Accounts Receivable | 270,715.18 | Pledge | Pledge guarantee for borrowings | | Fixed Assets | 150,162,179.81 | Mortgage | Mortgage guarantee for borrowings | | Long-term Equity Investment | [Note] | Pledge | Pledge guarantee for lease | | **Total** | **188,534,612.61** | | | [6. Analysis of Investment Status](index=22&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 investment decreased by 32.28% year-on-year during the reporting period; raised funds have been fully utilized, and some fundraising projects (R&D center, marketing service system) have been terminated, with remaining funds permanently supplementing working capital, reflecting the company's adjustment of investment strategy based on market changes Investment Amount During the Reporting Period | Indicator | Amount (RMB) | | :--- | :--- | | Investment amount during the reporting period | 297,902,922.07 | | Investment amount in the prior year | 439,888,397.10 | | Change (%) | -32.28% | Financial Assets Measured at Fair Value | Asset Category | Period-end Amount (RMB) | Source of Funds | | :--- | :--- | :--- | | Other (Wealth Management Products) | 95,874,210.71 | Own funds, raised funds | | Other (Bank Acceptance Bills) | 3,715,901.39 | Bank acceptance bills | | Other (Other Debt Investments) | 15,392,400.00 | Other debt investments | | Other (Other Non-current Financial Assets) | 13,000,000.00 | Other non-current financial assets | | **Total** | **127,982,512.10** | | - As of June 30, 2025, the company's initial public offering raised funds had been cumulatively used for **RMB 400.0926 million**, which has been fully utilized, and all related special fundraising accounts have been closed[101](index=101&type=chunk) - The "R&D Center Construction Project" and "Marketing Service System Construction Project" have been terminated, with the remaining raised funds permanently supplementing working capital to improve capital utilization efficiency and respond to changes in the macroeconomic environment[105](index=105&type=chunk) [6. Entrusted Wealth Management, Derivative Investments, and Entrusted Loans](index=27&type=section&id=6%E3%80%81%E5%A7%94%E6%89%98%E7%90%86%E8%B4%A2%E3%80%81%E8%A1%8D%E7%94%9F%E5%93%81%E6%8A%95%E8%B5%84%E5%92%8C%E5%A7%94%E6%89%98%E8%B4%B7%E6%AC%BE%E6%83%85%E5%86%B5) The company engaged in bank wealth management product investments during the reporting period but did not undertake derivative investments or entrusted loans Overview of Entrusted Wealth Management During the Reporting Period | Specific Type | Source of Entrusted Wealth Management Funds | Amount of Entrusted Wealth Management (RMB 10,000) | Unmatured Balance (RMB 10,000) | | :--- | :--- | :--- | :--- | | Bank wealth management products | Own funds | 14,450 | 9,422.73 | | Bank wealth management products | Raised funds | 3,000 | 0 | | **Total** | | **17,450** | **9,422.73** | - The company had no derivative investments during the reporting period[110](index=110&type=chunk) - The company had no entrusted loans during the reporting period[111](index=111&type=chunk) [7. Significant Asset and Equity Sales](index=27&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 undertake any significant asset or equity sales during the reporting period - The company did not sell significant assets during the reporting period[112](index=112&type=chunk) - The company did not sell significant equity during the reporting period[113](index=113&type=chunk) [8. Analysis of Major Holding and Participating Companies](index=27&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 major subsidiaries include Zhejiang Kailer Environmental Equipment, Xianle Power Control Technology, Kailer Mexico, Kailer New Energy Technology, Anruizhe Energy, and Kailer Singapore, with businesses covering HVLS fans, lithium-ion battery technology applications, and sales; financial performance varies among subsidiaries, with some reporting negative net profits Major Subsidiaries and Participating Companies with Over 10% Impact on Company's Net Profit | Company Name | Company Type | Main Business | Registered Capital (RMB) | Total Assets (RMB) | Net Assets (RMB) | Operating Revenue (RMB) | Operating Profit (RMB) | Net Profit (RMB) | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Zhejiang Kailer Environmental Equipment Co., Ltd. | Subsidiary | Production and sales of energy-saving and environmental protection equipment, industrial dust removal equipment, air purification equipment | 60,000,000.00 | 181,493,879.83 | 94,625,588.14 | 54,918,766.21 | 7,115,348.76 | 6,073,345.20 | | Xianle Power Control Technology (Shanghai) Co., Ltd. | Subsidiary | Technology development and transfer in power control technology, automotive technology, electromechanical technology, electronic technology, electrical equipment | 5,750,000.00 | 9,134,517.51 | 7,703,665.35 | 3,387,956.40 | -1,618,395.57 | -1,609,435.12 | | Kailer Mexico S.A. de C.V. | Subsidiary | Sales, purchase, export, import, manufacturing, transportation, storage of various products and goods, and other commercial activities | 2,691,975.67 | 8,723,386.54 | 4,876,154.28 | 6,782,361.74 | 1,666,536.06 | 1,780,066.68 | | Kailer New Energy Technology (Shanghai) Co., Ltd. | Subsidiary | Commercial and industrial energy storage related technical services, technology development, consulting, exchange, transfer, promotion | 50,000,000.00 | 136,798,243.97 | 41,820,317.70 | 10,316,335.77 | 1,711,315.68 | 1,620,420.41 | | Anruizhe Energy (Shanghai) Co., Ltd. | Subsidiary | New energy, power, consumer power battery and other energy technology research and development services | 30,000,000.00 | 37,763,840.95 | -7,169,423.47 | 14,969,169.50 | -5,932,148.50 | -5,880,107.00 | | Kailer Singapore Pte. Ltd. | Subsidiary | Wholesale trade of various goods without dominant products | 19,874,610.00 | 16,971,147.91 | 13,069,128.22 | 3,052,962.54 | -1,585,745.98 | -1,595,733.29 | - During the reporting period, the company established Huzhou Anji Leshu New Energy Co., Ltd. as a wholly-owned subsidiary through its wholly-owned subsidiary Kailer New Energy Technology (Shanghai) Co., Ltd[115](index=115&type=chunk) [10. Risks Faced by the Company and Countermeasures](index=28&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 risks from macroeconomic fluctuations, intensified market competition, dispersed customer concentration, raw material price volatility, and technological updates; the company actively responds through operational optimization, market expansion, differentiated products, strengthened supply chain management, and continuous R&D - Risk of market demand fluctuations due to macroeconomic environment: Downstream customer market demand is affected by fixed asset investment scale, and macroeconomic downturns may impact company performance. Countermeasures: Monitor macroeconomic trends, optimize operational management, increase market development, broaden product application scenarios, and enhance core competitiveness[116](index=116&type=chunk)[117](index=117&type=chunk) - Risk of intensified market competition: Low industry concentration, new entrants engaging in low-price competition, competition escalating to comprehensive capabilities including brand, quality, and service. Countermeasures: Continuous innovation, R&D of differentiated products, provision of high-quality services, expansion into overseas markets, and avoidance of domestic price wars[118](index=118&type=chunk) - Risk of dispersed customer concentration: Customer dispersion, long-cycle investments, and high product durability lead to low repeat purchase rates and high customer acquisition costs. Countermeasures: Establish a full customer lifecycle management system, strengthen digital precision marketing, develop regional distribution networks, and expand into high-quality customers such as government infrastructure and leading logistics enterprises[119](index=119&type=chunk) - Risk of raw material price fluctuations: Major raw materials (motor-reducer integrated units, fan blades, battery cells, etc.) account for a significant proportion of operating costs, and price fluctuations affect gross profit margin. Countermeasures: Optimize production processes, improve efficiency, strengthen supply chain management, centralize procurement, and lock in procurement prices when appropriate[120](index=120&type=chunk) - Risk of technological updates: Industry technology levels are continuously improving, and customer demands are upgrading; if the company fails to maintain technological innovation, its leading position may be weakened. Countermeasures: Emphasize R&D of new products and technologies, attract excellent technical talent, deepen customer demand insights, and develop differentiated products[121](index=121&type=chunk)[122](index=122&type=chunk) [11. Registration Form for Research, Communication, Interview, and Other Activities During the Reporting Period](index=30&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, hosting institutional investors through various channels, primarily discussing Yuzi Kailer's artificial intelligence business and the company's annual performance briefing - On February 20, 2025, the company hosted institutional investors from Caitong Securities, Great Wall Securities, and others at the Banquet Hall II conference room of Grand Hyatt Jin Mao Shanghai, discussing Yuzi Kailer's artificial intelligence business[123](index=123&type=chunk) - On May 15, 2025, the company participated in the 2024 Annual Performance Briefing via an online platform at the Shanghai Stock Exchange Roadshow Center[123](index=123&type=chunk) - On May 26, 2025, the company hosted institutional investors from Huaan Fund, Golden Eagle Fund, and others via an online platform, discussing HVLS fan business and Yuzi Kailer's artificial intelligence business[123](index=123&type=chunk) [12. Formulation and Implementation of Market Value Management System and Valuation Enhancement Plan](index=31&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 formulated and approved the "Kailer Environmental Technology (Shanghai) Co., Ltd. Market Value Management System", aiming to improve company quality, investment value, and shareholder return capability - The company has formulated the "Kailer Environmental Technology (Shanghai) Co., Ltd. Market Value Management System", which was reviewed and approved by the Eighth Meeting of the Fourth Board of Directors on April 25, 2025[124](index=124&type=chunk) [13. Implementation of "Dual Enhancement of Quality and Returns" Action Plan](index=31&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%E5%8D%87%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 has not yet disclosed its "Dual Enhancement of Quality and Returns" action plan announcement - The company has not yet disclosed its "Dual Enhancement of Quality and Returns" action plan announcement[125](index=125&type=chunk) [Section IV Corporate Governance, Environment, and Society](index=32&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) [1. Changes in Company Directors, Supervisors, and Senior Management](index=32&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) During the reporting period, Li Hongtao (Chairman of the Supervisory Board), Qiu Jiawen (Supervisor), and Jia Tingting (Employee Representative Supervisor) resigned due to supervisory board reforms Changes in Company Directors, Supervisors, and Senior Management | Name | Position Held | Type | Date | Reason | | :--- | :--- | :--- | :--- | :--- | | Li Hongtao | Chairman of the Supervisory Board | Resignation | May 20, 2025 | Supervisory Board Reform | | Qiu Jiawen | Supervisor | Resignation | May 20, 2025 | Supervisory Board Reform | | Jia Tingting | Employee Representative Supervisor | Resignation | May 20, 2025 | Supervisory Board Reform | [2. Profit Distribution and Capital Reserve Conversion to Share Capital During This Reporting Period](index=32&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 no cash dividend distribution, no bonus shares, and no capital reserve conversion to share capital for this half-year - The company plans no cash dividends, no bonus shares, and no capital reserve conversions to share capital for the half-year[128](index=128&type=chunk) [3. Implementation of Company Equity Incentive Plans, Employee Stock Ownership Plans, or Other Employee Incentive Measures](index=32&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 continues to implement its 2023 restricted stock incentive plan, having completed initial and reserved grants; however, due to the failure to meet performance targets in 2023 and 2024, some granted but unvested restricted shares have expired or been cancelled - The company initially granted restricted shares on May 19, 2023, and subsequently granted reserved restricted shares on August 23, 2023, and April 18, 2024[131](index=131&type=chunk)[132](index=132&type=chunk) - Due to the failure to meet the 2023 and 2024 performance targets (net profit), all unvested restricted shares corresponding to the assessment year for all incentive recipients have expired or been cancelled[128](index=128&type=chunk)[129](index=129&type=chunk)[130](index=130&type=chunk)[131](index=131&type=chunk)[132](index=132&type=chunk) [4. Environmental Information Disclosure](index=33&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[133](index=133&type=chunk) [5. Social Responsibility](index=33&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 actively fulfills its social responsibilities, committed to protecting shareholder and employee rights, maintaining good relationships with suppliers and customers, promoting environmentally friendly and energy-saving green and low-carbon development, and actively participating in public relations and social welfare initiatives - Shareholder Rights Protection: Improve corporate governance structure, timely and accurately disclose information, and reward shareholders through capital reserve conversion to shares, share repurchases, executive share increases, and expansion into new business areas[134](index=134&type=chunk) - Employee Rights Protection: Adhere to a "people-oriented" philosophy, legally pay social insurance and housing provident fund, establish a compensation and incentive system, increase training investment, and provide talent apartments, canteens, birthday benefits, etc., to enhance employee well-being[135](index=135&type=chunk)[136](index=136&type=chunk) - Supplier and Customer Rights Protection: Uphold "mutual respect, mutual benefit, and win-win" principles, establish good communication mechanisms, provide high-quality products and services, and form professional service teams to safeguard customer interests[137](index=137&type=chunk) - Environmental Protection and Sustainable Development: Promote low-carbon office practices, clean production,健全能耗管理与宣传教育, and utilize photovoltaic power generation equipment for green energy production and use[138](index=138&type=chunk) - Public Relations and Social Welfare: Pay taxes according to law, operate with integrity, maintain good communication with all levels of government and regulatory authorities, and support local economic and industry development[139](index=139&type=chunk) [Section V Significant Matters](index=35&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) [1. Commitments Fulfilled During the Reporting Period and Overdue Unfulfilled Commitments by Actual Controllers, Shareholders, Related Parties, Acquirers, and the Company](index=35&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) Mr. Lu Xiaobo and Ms. Yu Qingfan, the company's controlling shareholders and actual controllers, have timely fulfilled their commitment not to reduce their shareholdings in the company within 6 months after the lifting of restrictions on their shares issued before the initial public offering and their listing for circulation - Controlling shareholders and actual controllers Lu Xiaobo and Yu Qingfan have fulfilled their commitment not to reduce their company shareholdings through centralized bidding or block trading between September 23, 2024, and March 22, 2025[141](index=141&type=chunk) [2. Non-Operating Funds Occupied by Controlling Shareholders and Other Related Parties from the Listed Company](index=35&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 were no instances of non-operating funds being occupied by controlling shareholders or other related parties from the listed company - During the reporting period, there were no instances of non-operating funds being occupied by controlling shareholders or other related parties from the listed company[142](index=142&type=chunk) [3. Irregular External Guarantees](index=35&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 irregular external guarantees during the reporting period - The company had no irregular external guarantees during the reporting period[143](index=143&type=chunk) [4. Appointment and Dismissal of Accounting Firms](index=35&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 half-yearly financial report was not audited - The company's half-yearly report was not audited[144](index=144&type=chunk) [7. Bankruptcy Reorganization Matters](index=36&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 reorganization matters during the reporting period - The company had no bankruptcy reorganization matters during the reporting period[145](index=145&type=chunk) [8. Litigation Matters](index=36&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; other litigation matters involved a total amount of RMB 20.1256 million, with some cases concluded or under trial, not expected to have a significant adverse impact on the company's operations - The company had no significant litigation or arbitration matters during this reporting period[146](index=146&type=chunk) - The total amount involved in litigation not meeting the significant litigation disclosure standard was **RMB 20.1256 million**, of which **RMB 0.1376 million** cases have been concluded, and **RMB 19.9880 million** cases have been heard but no judgment has been rendered yet, which is not expected to have a significant adverse impact on the company's operations[146](index=146&type=chunk) [9. Penalties and Rectification](index=36&type=section&id=%E4%B9%9D%E3%80%81%E5%A4%84%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) [10. Integrity Status of the Company, its Controlling Shareholders, and Actual Controllers](index=36&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) During the reporting period, there were no issues regarding the integrity status of the company, its controlling shareholders, or actual controllers - During the reporting period, there were no issues regarding the integrity status of the company, its controlling shareholders, or actual controllers[148](index=148&type=chunk) [11. Significant Related Party Transactions](index=36&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) The company engaged in daily related party transactions during the reporting period, including purchasing packaging materials from related parties and selling commercial and industrial energy storage products and providing technical development and O&M services to Henan Yuzi Kailer Intelligent Technology Co., Ltd. and its subsidiaries; the company plans to increase its investment in Yuzi Kailer by RMB 10 million, making it a controlled sub-subsidiary Related Party Transactions Related to Daily Operations | Related Transaction Type | Related Party | Related Transaction Content | Related Transaction Amount (RMB 10,000) | Proportion of Similar Transactions (%) | Approved Transaction Limit (RMB 10,000) | | :--- | :--- | :--- | :--- | :--- | :--- | | Purchase of goods from related parties | Haining Deming Packaging Materials Co., Ltd. | Purchase of wooden boxes and other packaging materials | 49.83 | 24.98% | 100 | | Sale of goods to related parties | Henan Yuzi Kailer Intelligent Technology Co., Ltd. and its subsidiaries | Sale of commercial and industrial energy storage and related products | 594 | 70.51% | 860 | | Provision of services to related parties | Henan Yuzi Kailer Intelligent Technology Co., Ltd. and its subsidiaries | Provision of technical development, operation and maintenance, and other services | 299.54 | 91.04% | 440 | | **Total** | | | **943.37** | | **1,400** | - The company plans to increase its investment in Yuzi Kailer by **RMB 10 million**, after which Yuzi Kailer will become a controlled sub-subsidiary of the company and be included in the company's consolidated financial statements[150](index=150&type=chunk) - The company had no related party transactions involving asset or equity acquisition/disposal during the reporting period[151](index=151&type=chunk) - The company had no related party transactions involving joint external investment during the reporting period[152](index=152&type=chunk) - The company had no related party debt and credit transactions during the reporting period[153](index=153&type=chunk) [12. Significant Contracts and Their Performance](index=38&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) During the reporting period, the company engaged in leasing activities, with total cash outflow as a lessee of RMB 0.6802 million and total income as a lessor of RMB 1.1132 million; the company provided multiple guarantees for its subsidiaries, with actual guarantee balances totaling RMB 10.9369 million, representing 1.41% of the company's net assets - Company as lessee: Primarily for office premises, factory buildings, and employee dormitories, with total cash outflow of **RMB 0.6802 million** during the reporting period[159](index=159&type=chunk) - Company as lessor: Primarily for leasing out idle factory buildings of subsidiaries, with total income of **RMB 1.1132 million** during the reporting period[159](index=159&type=chunk) Company's Guarantees for Subsidiaries | Guaranteed Entity Name | Guarantee Limit (RMB 10,000) | Actual Guarantee Amount (RMB 10,000) | Guarantee Type | Fulfilled | | :--- | :--- | :--- | :--- | :--- | | Rile New Energy (Jiaxing) Co., Ltd. | 960 | 505.37 | Joint and several liability guarantee | Yes | | Rile New Energy (Jiaxing) Co., Ltd. | 960 | 281.14 | Joint and several liability guarantee | Yes | | Rile New Energy (Wuhan) Co., Ltd. | 450 | 396.77 | Joint and several liability guarantee | Yes | | Rile New Energy (Shanghai) Co., Ltd. | 3,700 | 71 | Joint and several liability guarantee | No | | Rile New Energy (Shanghai) Co., Ltd. | 3,700 | 141 | Joint and several liability guarantee | No | | Anruizhe Energy (Shanghai) Co., Ltd. | 10,000 | 4,600 | Joint and several liability guarantee | No | | Rile New Energy (Shanghai) Co., Ltd. | 500 | 178 | Joint and several liability guarantee | No | | Kailer New Energy Technology (Shanghai) Co., Ltd. | 5,000 | 5,000 | Joint and several liability guarantee | No | | Rile New Energy (Kunshan) Co., Ltd. | 200 | 157 | Joint and several liability guarantee | No | | **Total actual guarantee balance for subsidiaries at period-end** | | **1,093.69** | | | | **Proportion of total actual guarantee amount to company's net assets** | | **1.41%** | | | [13. Explanation of Other Significant Matters](index=41&type=section&id=%E5%8D%81%E4%B8%89%E3%80%81%E5%85%B6%E4%BB%96%E9%87%8D%E5%A4%A7%E4%BA%8B%E9%A1%B9%E7%9A%84%E8%AF%B4%E6%98%8E) The company completed its share repurchase plan during the reporting period, cumulatively repurchasing 368,600 shares and paying a total of RMB 20,087,988.94 - The company's share repurchase plan has been completed. As of April