Group 1 - The company announced a change in accounting method for its associate company, Shanghai Kunhua New Energy Technology Co., Ltd. [1] - The new accounting method will shift from equity method measurement of long-term equity investments to fair value measurement, with changes recorded in other comprehensive income. [1]

Group 1 - The company held its seventh board meeting on October 28, 2025, where it approved the change in accounting method for its investment in Ningbo Jujia New Materials Technology Co., Ltd. from fair value measurement to long-term equity investment using the equity method [8][9][25] - The company holds 22.0345% of Jujia Technology's shares and has significant influence over its operational decisions, justifying the change in accounting treatment [9][14] - The change in accounting method will not affect the company's profit and loss, as per preliminary calculations [13][14] Group 2 - The company’s third-quarter report for 2025 was approved by the board and the supervisory committee, confirming that the report complies with relevant laws and regulations [21][31] - The company plans to hold a performance briefing on November 7, 2025, to discuss the third-quarter results and engage with investors [45][46] - A second extraordinary general meeting of shareholders is scheduled for November 18, 2025, to discuss various proposals, including the cancellation of the supervisory board and changes to the company’s articles of association [50][52][67]

Core Points - The company has completed the absorption merger of its wholly-owned subsidiary Guosheng Securities Co., Ltd. and has changed its name to Guosheng Securities Co., Ltd. [4][8][12] - The company reported a net profit impact of -162 million yuan due to changes in accounting methods for its equity investment in Qudian [4][5] - The company held its first extraordinary general meeting of 2025, where it elected a new board of directors and appointed senior management [5][43] Financial Data - The company confirmed that there were no adjustments or restatements of previous accounting data [1] - Non-recurring gains and losses included a VAT exemption, with a total of -4.2231 million yuan recognized as regular gains and losses due to idle fund management [2][3] - The third-quarter financial report was not audited [1][7] Shareholder Information - The company has not reported any changes in the number of shareholders or major shareholders participating in securities lending [3] Other Important Matters - The company has received approval from the China Securities Regulatory Commission for the merger and will disclose financial statements according to the Ministry of Finance's requirements for securities financial enterprises after the merger [4][12] - The company has established four specialized committees under the new board of directors: Strategy Committee, Nomination and Remuneration Committee, Audit Committee, and Risk Control Committee [46][47] - The company has appointed new senior management, including Zhao Jingliang as General Manager and Zhang Changsheng as Vice General Manager and CFO [48][49]

Core Points - The company held its 13th meeting of the 5th Board of Directors on September 19, 2025, where key resolutions were made regarding accounting method changes and the appointment of a securities representative [1][4][11] Group 1: Accounting Method Change - The Board approved a change in the accounting method for its investment in Sifang Weiye from equity method to fair value measurement, with changes recorded in other comprehensive income [1][11][14] - The change was prompted by the loss of significant influence over Sifang Weiye after the company was not elected to the board following a restructuring [12][17] - The change is expected to increase the company's investment income by approximately 5 million yuan, with final amounts subject to annual audit adjustments [15][16] Group 2: Appointment of Securities Representative - The Board appointed Ms. Xu Nina as the securities affairs representative, effective from the date of the Board's approval until the end of the current Board's term [4][7]

Core Viewpoint - The company has approved a change in accounting method for its associate company, Sifang Weiye, which is expected to increase current investment income by approximately 5 million yuan [1] Group 1: Investment Details - The company invested a total of 130 million yuan to acquire an 11.8993% stake in Sifang Weiye between 2018 and 2019 [1] - The previous accounting method used was the equity method [1] Group 2: Board Changes - On September 10, Sifang Weiye restructured its board of directors, resulting in the company no longer holding a board seat [1] - The change in board composition is noted to have no significant impact on the company [1] Group 3: Accounting Method Change - The accounting method has been changed to fair value measurement, with changes recorded in other comprehensive income [1] - The board of directors, supervisory board, and audit committee have all agreed to this change [1] Group 4: Risk Consideration - The company has indicated that there are uncertainties and risks associated with the operations of the associate company [1]

Group 1 - The company held its first temporary meeting of the 10th Supervisory Board on June 10, 2025, with all members notified via email or in person [1] - The Supervisory Board approved the proposal regarding the change in accounting methods for affiliated companies, with a unanimous vote of 3 in favor and no opposition or abstentions [1] - The Supervisory Board believes that the change in accounting methods is in accordance with relevant accounting standards and laws, and will provide a more objective and fair reflection of the company's financial status and operating results [1]

Overview of Accounting Method Change - The company has changed its accounting method for its investment in Hunan Mingming Henmang Commercial Chain Co., Ltd. from equity method to fair value measurement due to changes in its board representation and shareholding percentage [3][4] - The investment in Mingming Henmang amounts to RMB 700 million, representing a 6.64% stake prior to the change [3] Financial Impact - The change in accounting method results in a decrease of RMB 723.87 million in long-term equity investments and an increase of RMB 684.02 million in other non-current financial assets on the consolidated balance sheet [3] - The capital reserve increases by RMB 37.45 million, while investment income decreases by RMB 77.31 million, leading to a corresponding decrease in net profit attributable to the parent company [3] Future Accounting Treatment - Future changes in the fair value of the investment will be recognized in the current profit and loss statement, reflecting a shift in how the company accounts for this investment [2][4] - The company emphasizes that the financial data changes are temporary and do not reflect a fundamental change in its operational capabilities or investment value [2][4]

Core Viewpoint - The company has approved a change in the accounting method for its investment in Wuhan Tianyuan Environmental Protection Co., Ltd., transitioning from equity method accounting to fair value measurement, with changes recognized in current profit and loss [3][7][12]. Group 1: Meeting Details - The 43rd meeting of the 10th Board of Directors was held on March 31, 2025, via telecommunication voting, with all 7 directors present [2]. - The meeting was chaired by the Vice Chairman, Mr. Zhou Bin, and complied with relevant regulations [2]. Group 2: Accounting Method Change - The board unanimously approved the proposal to change the accounting method for the investment in Tianyuan Environmental from equity method to fair value measurement [3][12]. - The reason for the change is the loss of significant influence over Tianyuan Environmental, as the company's ownership has been diluted to approximately 13% [7][12]. Group 3: Financial Impact - The change in accounting method will result in a decrease of approximately 537 million yuan in long-term equity investments and an increase of about 1.074 billion yuan in trading financial assets, leading to an estimated after-tax gain of around 652 million yuan [13]. - The new accounting method will be effective from March 31, 2025 [12].

Core Viewpoint - The company has announced a change in the accounting method for its equity investment in Shanghai XianGong Intelligent Technology Co., Ltd., transitioning from the equity method to fair value measurement, which is expected to increase net profit for the first quarter of 2025 by 110.81 million yuan [1][4][5]. Group 1: Change in Accounting Method - The reason for the change in accounting method is due to the restructuring of the board of directors at Shanghai XianGong, resulting in the company no longer having significant influence over it [1][2]. - Prior to the change, the investment was reported as a long-term equity investment using the equity method for subsequent measurement [2]. - After the change, the investment will be classified as a financial asset measured at fair value, with changes recognized in the current profit and loss [2][3]. Group 2: Impact of the Change - The change in accounting method is expected to result in an increase in the company's net profit for the first quarter of 2025 by 110.81 million yuan [4][5]. - The board of directors approved the change with a unanimous vote of 9 in favor, with no abstentions or opposition [5]. - The supervisory board also reviewed and approved the change, confirming compliance with relevant accounting standards and regulations [6][11].