Core Viewpoint - The report outlines the ongoing supervision and compliance of Chengdu Kunheng Shunwei Technology Co., Ltd. (Kunheng Shunwei) following its initial public offering and listing on the Sci-Tech Innovation Board, emphasizing the importance of adherence to regulatory requirements and internal controls [1][2]. Group 1: Continuous Supervision Work - The sponsor has established and effectively implemented a continuous supervision work system for Kunheng Shunwei [1]. - A sponsorship agreement has been signed, clarifying the rights and obligations of both parties during the supervision period [1]. - Continuous supervision includes daily communication, regular visits, on-site inspections, and due diligence [1][2]. Group 2: Compliance and Internal Controls - Kunheng Shunwei is required to establish and effectively execute corporate governance systems, including rules for shareholder meetings, board meetings, and management behavior [1]. - The company has built an internal control system in accordance with the Shanghai Stock Exchange's regulations, focusing on financial management, accounting, and auditing [1][2]. Group 3: Financial Performance - For the first half of 2025, the company reported operating revenue of approximately 102.36 million yuan, a 26.69% increase compared to the same period in 2024 [10]. - The total profit for the same period was approximately 12.00 million yuan, reflecting a 1.04% increase from the previous year [10]. - The net profit attributable to shareholders decreased by 8.49% to approximately 12.81 million yuan [10]. Group 4: Research and Development - The total R&D expenditure for the first half of 2025 was approximately 30.62 million yuan, a 2.22% increase from the same period in 2024 [14]. - The company holds 23 invention patents and 43 software copyrights as of June 30, 2025 [15][14]. Group 5: Risks and Challenges - The company faces risks related to the loss of core technical personnel, which could impact its competitive position [5]. - There is a risk of core technology leakage if confidentiality measures are not maintained [5]. - Seasonal fluctuations in revenue and profit levels are noted, with the second half of the year typically generating higher income [5]. Group 6: Shareholder and Management Structure - As of June 30, 2025, the major shareholders include the chairman and core technical personnel, holding significant stakes in the company [18]. - There have been no significant changes in shareholding or pledging among key management personnel during the reporting period [18].