Financial Performance - In the first half of 2025, the company achieved operating revenue of 169 million yuan, a year-on-year increase of 14.48% [1] - The net profit attributable to shareholders was 42.76 million yuan, reflecting a year-on-year growth of 13.32% [1] - The net cash flow from operating activities reached 63.52 million yuan, up by 13.86% year-on-year [1] Industry Development and Market Expansion - The company is actively developing testing capabilities in the electrochemical energy storage industry, focusing on liquid flow batteries [1] - It has prepared application materials for multiple new testing projects and has applied for 2 invention patents while participating in the formulation of 3 group standards [1] - The company participated in the Shanghai International Carbon Neutrality Expo and successfully hosted a roundtable forum on liquid flow batteries, establishing preliminary contacts with over ten potential clients [1] Certification and Research Activities - The subsidiary, Chuanglan Testing, has begun voluntary product certification activities in the wire and cable sector, focusing on carbon footprint certification [2] - The company has developed 6 carbon footprint evaluation guidelines for various cable products and has issued certification for these products [2] - During the reporting period, the company won bids totaling over 8 million yuan across multiple important service projects and signed annual framework service contracts with key end-users [2] Research and Development - The company is advancing 21 research projects, with 8 new projects initiated during the reporting period, and invested 15.41 million yuan in R&D expenses [2] - It has applied for 7 invention patents, received authorization for 2, and published 3 academic papers [2] - The company participated in the revision of 10 national standards, 7 group standards, and 3 enterprise standards, with 1 national standard and 3 enterprise standards officially released [2] Company Overview - The company is a leading independent third-party inspection and testing service provider for wires, cables, and optical fibers in China, offering a range of services including inspection, testing, equipment measurement, capability verification, and certification [3]

Group 1 - The company has established a full-stack testing and evaluation platform to support the development of the photovoltaic and other new energy industries [1] - The company possesses capabilities in constructing photovoltaic inverter testing platforms and integrating systems for power battery testing laboratories [1] - The developed testing platform can meet the factory and type testing requirements for electrochemical energy storage stations, covering aspects from battery packs to storage inverters and battery management systems [1] Group 2 - The company will continue to monitor developments in the field and systematically promote the growth of its photovoltaic testing business [1]

Group 1: Company Overview and Market Position - The company operates in the inspection and testing industry, focusing on materials testing with a leading position in large infrastructure testing [2] - The market share for battery-grade manganese tetroxide is approximately 50%, with production capacity increased to 35,000 tons [2] - The company has a production capacity of 70,000 tons for metal products, primarily producing spring steel wire [3] Group 2: Product Development and Market Trends - The company has developed battery-grade manganese tetroxide since 2013, with market acceptance growing from 2,000-3,000 tons to 5,000 tons, and now reaching a capacity of 35,000 tons [2] - The price of manganese tetroxide is closely linked to the fluctuations in the price of electrolytic manganese, with stable pricing and good profitability [3] - The company is involved in national key technology projects related to special graphite materials, with plans for industrial development based on R&D progress [3] Group 3: Future Projects and Expansion - Ongoing construction projects are focused on inspection and testing, expansion of battery-grade manganese tetroxide, and metal products [3] - The company has a production capacity of 2,000 tons for neodymium-iron-boron, covering the entire process from smelting to surface treatment [3]

Core Viewpoint - The company reported a revenue of 296 million yuan for 2024, representing a year-on-year growth of 6.93%, and a net profit attributable to shareholders of 75.28 million yuan, up 2.18% year-on-year [1] Group 1: Business Performance - The company achieved a solid development momentum by focusing on its strategic goals of "expanding regions and businesses" [1] - The acquisition of Chuanglan Testing was completed, and the construction of fundraising projects was advanced [1] - The company experienced growth in inspection and testing service revenue due to increased demand from cable manufacturing enterprises for transformation and technological innovation [1] Group 2: New Business Development - The company has expanded its inspection services into the new energy sector, particularly in the electrochemical energy storage industry, establishing testing capabilities for flow batteries and fuel cells [2] - The company was approved to establish the "Shanghai Flow Battery Energy Storage Quality Inspection and Testing Center" and began providing testing services for related enterprises [2] - The company secured project bids exceeding 10 million yuan and signed annual framework service contracts with key end-users, solidifying long-term partnerships [2] Group 3: Innovation and Research - The company applied for 15 invention patents during the reporting period, receiving authorization for 5, and published 11 academic papers [3] - The company participated in the formulation and revision of 10 national standards, 3 industry standards, and various other standards [3] - The company is recognized as a leading independent third-party inspection and testing service provider for wires, cables, and optical fibers in China, offering a range of professional technical services [3]

淳厚信睿A（基金代码：008186）是淳厚基金旗下的一只混合型基金，成立于2020年2月12日。现任基 金经理由薛莉丽和陈文共同担任，其中薛莉丽自2020年2月12日起任职，总管理规模达23.98亿元。该基 金通过对企业基本面全面、深入的研究，持续挖掘具有长期发展潜力和估值优势的上市公司，实现基金 资产的长期稳定增值。截至2025年4月18日，淳厚信睿A近一年回报达11.59%，跑赢基金比较基准增长 率（10.11%）和中证混合型基金指数回报（4.84%），超过同期混合型基金收益均值。拉长时间看，截 至2025年4月18日，基金在长期收益方面表现优秀，近五年收益排名同类混合型基金前5%。详细来看， 近五年基金收益率为103.72%，优于业绩基准（4.00%）和中证混合型基金指数回报（7.85%）。从风控 能力来看，截至2025年4月18日，近三年基金最大回撤为29.80%，最大回撤优于同类混合型基金平均水 平；基金最大回撤修复天数为246天，排名同类混合型基金前15%。从基金规模来看，截至2024年12月 31日，该基金的规模已达到9.46亿元。基金份额方面，最新公告显示截至2024年12月31日基金份额为 ...