宝光股份：2025年半年度及三季度存货较年初增长

Core Viewpoint - Baoguang Co., Ltd. anticipates an increase in inventory for the first half and third quarter of 2025 compared to the beginning of the year, driven by normal operational cycles and rising raw material costs [2] Group 1: Inventory Growth Reasons - The increase in inventory is attributed to a higher amount of stock at mid-year compared to the beginning of the year, aligning with the company's normal operational cycle [2] - The consolidation of the subsidiary Chengdu Kaisaer Technology into the financial statements starting from the first half of 2025 contributes to the inventory growth [2] - Rising prices of key raw materials such as copper and silver precious metals have led to increased production input costs compared to the previous year [2] Group 2: Inventory Management Strategy - The company plans to actively and reasonably adjust inventory levels based on market conditions and business needs to optimize asset structure and improve capital efficiency [2]