Corporate Governance Changes - The company has revised its articles of association and officially abolished the supervisory board, transferring its functions to the audit committee, with the termination of supervisory board members' positions [1] - Mr. Jin Feng has been appointed as a non-executive director and a member of the remuneration committee, while Mr. Chen Zhou has been elected as an employee representative director, completing the board structure adjustment [1] - These changes may impact the company's governance efficiency and supervisory mechanisms, warranting investor attention on subsequent execution [1] Business and Technological Development - In 2025, the company launched a fully automated grain continuous unloading machine with an operational efficiency of 1,500 tons per hour and a fully automated bulk grain loading system [1] - The company has enhanced unloading efficiency by 30% through the use of laser radar technology, aimed at strengthening its competitive edge in bulk cargo handling [1] - The actual impact of these technological upgrades on the company's throughput and costs in 2026 remains to be observed [1] Financial Performance - The company's net profit for the first half of 2025 was 82.79 million yuan, representing a year-on-year decline of 31.3%, primarily due to a contraction in business volume caused by adjustments in customer demand [2] - In October 2025, shareholders transferred their holdings from Standard Chartered Bank to Bank of China International Securities, with the transfer representing 5.46% of market value, indicating a potential change in shareholder structure [2] - Future financial reports, such as the 2025 annual report, may provide further insights into the progress of business recovery [2]