Group 1 - The board of directors of Beijing Shouxin Electronics Co., Ltd. held its 17th meeting on May 27, 2025, where the attendance and procedural requirements were met [1][2] - The board reviewed and approved a resolution regarding the company's convertible bonds, noting that the stock price had been below 85% of the conversion price for at least 15 trading days out of the last 30 [1] - The board decided not to adjust the conversion price of the "Shouxin Convertible Bonds" despite the triggering of the downward adjustment clause [1][2] Group 2 - The voting results for the resolution were 4 votes in favor, 0 against, and 0 abstentions, with 2 members recusing themselves from the vote due to their holdings in the convertible bonds [2]

Key Points - The company guarantees the authenticity, accuracy, and completeness of the quarterly report and assumes legal responsibility for its content [1][39] - The first quarter financial statements are unaudited [2][4] - The company held its annual general meeting on April 29, 2025, with all resolutions passed without objection [6][7] - The board of directors decided not to adjust the conversion price of the "Shanbo Convertible Bonds" despite triggering the downward adjustment clause [17][29] - The current conversion price of the "Shanbo Convertible Bonds" is RMB 11.07 per share [34][35] - An investor meeting is scheduled for May 20, 2025, to discuss the first quarter results and address investor questions [39][41]

Company Overview - The company specializes in the research, production, and sales of electric wires, cables, and cable accessories, primarily serving major clients such as the State Grid Corporation and Southern Power Grid [5][12] - The company achieved operating revenue of 3,089,873,737.70 yuan, representing a year-on-year increase of 10.38%, while the net profit attributable to shareholders decreased by 42.55% to 38,121,440.92 yuan [5] Financial Performance - As of December 31, 2024, the company's total assets amounted to 428,040.81 million yuan, with equity attributable to shareholders of 166,233.53 million yuan [5] - The company received a standard unqualified audit opinion from the accounting firm Xin Yong Zhong He [3] Business Segments - The main products include 220kV and below power cables, electrical installation wires and cables, overhead bare conductors, and cable accessories, which are designed to meet various special performance requirements [7][10] - Power cables are used for transmitting and distributing high-power electrical energy, while electrical installation wires and cables connect power to various devices [8][9] Industry Position - The company has been recognized as one of the top 100 competitive enterprises in the Chinese cable industry for several consecutive years [12] - The wire and cable products are essential for the electrification and informationization of society, widely used in power generation, transmission, and various applications across different sectors [11]