Fundraising Overview - The company successfully completed the issuance of 1,552,021,645 A-shares at a price of RMB 14.43 per share, raising a total of RMB 22,395,672,337.35, with a net amount of RMB 22,318,195,731.58 after deducting issuance costs [2][3] - The company also issued 341,749,155 H-shares at a price of HKD 17.67 per share, raising a total of HKD 6,038,707,568.85, equivalent to RMB 4,889,179,196.04, with a net amount of RMB 4,838,776,311.28 after deducting issuance costs [3][4] Fund Usage - As of December 31, 2025, the company utilized a total of RMB 22,318,195,731.58 from A-share fundraising and HKD 5,977,146,066.03 from H-share fundraising, with the H-share funds entirely allocated to developing capital intermediary business [4][5] - All fundraising projects have been completed, and the A-share fundraising account has been closed, while the H-share account balance is zero [4][5] Fund Management - The company has established a management method for fundraising, ensuring compliance with relevant regulations and protecting investor rights [5][6] - A special account for A-share fundraising was set up, and a tripartite supervision agreement was signed with the bank and sponsor to ensure the funds are used appropriately [6][7] Fund Investment Projects - The company planned to use the raised funds for various purposes, including developing capital intermediary business (up to RMB 18.2 billion), increasing investment in subsidiaries (up to RMB 5 billion), enhancing information system construction (up to RMB 3 billion), and supplementing other working capital (up to RMB 1 billion) [7][8] - The actual usage of funds aligns with the company's commitments as per the announcement [7] Compliance and Reporting - The company has adhered to all regulations regarding the management and usage of fundraising, with no violations reported [11][12] - The independent auditor confirmed that the fundraising management and usage report accurately reflects the company's situation [12][13]

Group 1 - The company held its 13th meeting of the 9th Board of Directors on February 27, 2026, with all 11 directors present, confirming the legality and validity of the meeting [2][5] - The Board approved the proposal for expected daily related transactions for 2026, estimating a total amount not exceeding 130.49 million yuan (including tax) [3][10] - The proposal for the first temporary shareholders' meeting of 2026 was also approved, scheduled for March 17, 2026 [7][8] Group 2 - The expected daily related transactions involve several parties, including the controlling shareholder Shenzhen Broadcasting Film and Television Group and other related entities, with specific transaction amounts detailed [3][10][11] - The company anticipates that the total amount of related transactions with Shenzhen Broadcasting Film and Television Group will not exceed 97.02 million yuan for 2026 [14] - The company’s independent directors have expressed that the expected transactions are normal business activities and do not harm the interests of the company or its shareholders [6][11]

Group 1 - The core point of the article is the announcement of the resolutions made during the 28th meeting of the 7th Board of Directors of Helitai Technology Co., Ltd, which includes the approval of expected daily related transactions for 2026 and revisions to internal audit and major information reporting systems [1][9][18] Group 2 - The Board meeting was held on February 27, 2026, via telecommunication, with all 9 directors participating, and the meeting procedures complied with relevant laws and regulations [2] - The Board approved the proposal for expected daily related transactions for 2026, estimating a maximum transaction amount of 90 million RMB with related parties, primarily the controlling shareholder Fujian Electronic Information (Group) Co., Ltd [3][10] - The proposal for revising the internal audit management system was unanimously approved by all directors [5] - The proposal for revising the major information internal reporting system was also unanimously approved by all directors [7] Group 3 - The expected daily related transactions are necessary for the company's normal operations and are based on the actual needs of production and business [10][17] - The independent directors reviewed the related transactions and confirmed that they would not harm the interests of minority shareholders and are in line with market pricing principles [10][17] - The related transactions do not require shareholder meeting approval and do not constitute a major asset restructuring as defined by regulations [11]

Meeting Overview - The first extraordinary general meeting of shareholders for 2026 was held by the company on February 26, 2026, combining on-site and online voting methods [2][3]. - The meeting was convened by the board of directors, with Mr. Xia Zhihong presiding due to the absence of Chairman Fu Xiangdong [4]. Attendance - A total of 1,411 shareholders and representatives attended the meeting, representing 418,301,180 shares, which is 38.93% of the total voting shares [5]. - Of the attendees, 7 shareholders participated in the on-site voting, representing 78,185,677 shares (7.28% of total shares) [6]. - Online voting saw participation from 1,404 shareholders, representing 340,115,503 shares (31.65% of total shares) [8]. Voting Results - The first resolution regarding the expected daily related party transactions for 2026 was approved with 70,778,231 votes in favor (97.44% of valid votes) [9]. - The second resolution concerning the initiation of financial derivatives business received 416,376,819 votes in favor (99.54% of valid votes) [11]. Legal Opinion - The meeting was witnessed by lawyers from Hunan Qiyuan Law Firm, who confirmed that the meeting's procedures complied with relevant laws and regulations, and the voting results were deemed valid [13].

Meeting Overview - The shareholders' meeting was held on February 25, 2026, at the conference room located at 98 Rongyang Road, Songjiang District, Shanghai [1] - The meeting was conducted with both on-site and online voting, adhering to the Company Law and the company's articles of association [1] - The meeting was presided over by Chairman Liang Feng, with the attendance of 5 current directors and 5 additional attendees, including the company secretary [1] Resolutions Passed - The proposal for the estimated daily related transactions for 2026 with Shanghai Putailai New Energy Technology Group Co., Ltd. was approved, with a transaction amount not exceeding 110 million yuan (excluding tax) [1][2] - The election of Liu Yongbiao as a non-independent director of the fifth board of directors was approved, with his term lasting until the end of the fifth board [2] - The proposal to change the company's name, business scope, and registered capital, along with the revision of the articles of association, was approved. The management was authorized to handle the necessary changes and registrations [3] Legal Verification - The meeting was witnessed by Shanghai Tongli Law Firm, confirming that the meeting's procedures complied with relevant laws and regulations, and the voting results were deemed legal and valid [4]

Financial Performance Summary - In 2025, the company reported operating revenue of 199,693.81 million yuan, a decrease of 8.72% year-on-year [2] - The net profit attributable to the parent company was -14,973.36 million yuan, down 153.37% year-on-year [2] - The net profit attributable to the parent company after deducting non-recurring gains and losses was -21,803.76 million yuan, a decline of 91.71% year-on-year [2] Financial Condition - As of the end of the reporting period, total assets amounted to 501,704.64 million yuan, a decrease of 3.70% from the beginning of the period [3] - The equity attributable to the parent company was 281,424.83 million yuan, down 4.84% from the beginning of the period [3] Factors Affecting Performance - The demand for refractory materials in core service industries such as steel and construction has weakened, leading to a market oversupply and intensified competition, which has pressured product prices and profit margins [4] - The company initiated legal proceedings for some large overdue accounts receivable to strengthen management and ensure asset quality, resulting in provisions for bad debts that impacted profits [4] - The optimization and adjustment of production lines led to the shutdown of some outdated lines, causing temporary asset idleness and necessitating impairment provisions based on third-party evaluations [4] Significant Changes in Financial Metrics - Operating profit, total profit, net profit attributable to the parent company, and net profit after deducting non-recurring gains and losses decreased by 209.93%, 217.03%, 153.37%, and 91.71% respectively, primarily due to weakened downstream demand and price declines [5] - Basic earnings per share fell by 153.52% compared to the previous year, reflecting the decline in net profit [6] - The weighted average return on net assets decreased by 3.23 percentage points, also due to the drop in net profit [7]

Core Viewpoint - The company has approved a proposal for expected daily related transactions for 2026, which will be submitted for review at the first extraordinary shareholders' meeting of 2026. The transactions are deemed normal business dealings and will not adversely affect the company's independence or operational capabilities [2][3][51]. Group 1: Daily Related Transactions - The board of directors approved the proposal for expected daily related transactions for 2026 with a vote of 4 in favor and none against or abstaining. Related directors recused themselves from the vote [3][51]. - The independent directors' meeting confirmed that the related transactions comply with national laws and regulations, ensuring fairness and reasonableness in pricing, and protecting the interests of non-related shareholders [3][34]. - The expected daily related transactions for 2026 will allow for adjustments based on actual transaction execution, with a total not exceeding the estimated amount [5]. Group 2: Related Parties and Relationships - The company has several related parties, including Zhongshi International Logistics Co., Ltd., which is a joint venture of the company [6][8]. - Other related entities include Zhongjiu Equipment Intelligent Technology Co., Ltd., Jiangsu Yueda Global Logistics Co., Ltd., and Xinzhongfu (Shanghai) Shipping Co., Ltd., all of which are either subsidiaries or joint ventures of the company [8][9][11][12]. - The relationships with these entities are established based on business operations and do not create significant dependency that would affect the company's independence [2][35]. Group 3: Shareholders' Meeting - The first extraordinary shareholders' meeting of 2026 is scheduled for March 2, 2026, and will utilize both on-site and online voting systems [38][39]. - The meeting will review the proposal for expected daily related transactions and other matters previously approved by the board [38][51]. - Related shareholders are required to abstain from voting on matters that may affect their interests [40].

Group 1 - The core point of the announcement is that Zhejiang Ruisheng Intelligent Technology Co., Ltd. plans to conduct daily related transactions in 2026, which are deemed necessary for the company's normal business operations and development [1][8] - The total expected amount for these related transactions is not to exceed 132 million RMB, which is approximately 19.2 million USD [3][4] - The related parties involved in these transactions include Ningbo Dongpurui Industrial Automation Co., Ltd., Ningbo Yimaisco Automation Technology Co., Ltd., Zhejiang Wuluo Smart City Technology Co., Ltd., and Ningbo Oushi Energy Saving Technology Co., Ltd. [3][5] Group 2 - The board of directors has unanimously approved the proposal for the expected related transactions, ensuring that these transactions will not adversely affect the company's financial status or operational results [2][8] - The transactions will be conducted based on fair market prices and will not harm the interests of the company or its shareholders, particularly minority shareholders [9][10] - The company emphasizes that its main business will not become dependent on related parties, thus maintaining its independence [10]

Group 1 - The company held its 23rd meeting of the 9th Board of Directors on February 13, 2026, where all 9 directors attended and the meeting complied with relevant laws and regulations [2][12] - The Board approved the amendment to the Articles of Association, changing the registered capital from 323,270,000 yuan to 484,905,000 yuan due to the implementation of the restructuring plan [3][14] - The Board also approved the expected daily related transactions for 2026, with a total amount not exceeding 145.5235 million yuan [5][18] Group 2 - The company plans to hold the first extraordinary general meeting of 2026 on March 5, 2026, to review the approved proposals [11][55] - The Board approved a proposal to provide guarantees for its subsidiary, with a maximum guarantee amount of 49.47 million yuan for a bank loan of 97 million yuan [39][41] - The independent directors unanimously agreed that the guarantee for the subsidiary aligns with the company's long-term development and does not harm the interests of shareholders [50][48]

Group 1 - The company reported that the actual amount of daily related party transactions exceeded the initial estimated amount, reaching a disclosure standard as of December 31, 2025 [1][11] - For the first quarter of 2026, the company anticipates that the amount of daily related party transactions will also meet the disclosure standard, estimated at approximately 135 million yuan [2][13] - The company’s related party transactions primarily involve the procurement of complete engineering products and the sale of products and components, conducted at market prices and under fair negotiation [3][5] Group 2 - The company’s related party transactions are essential for normal operations and do not affect its independence, contributing positively to its development by ensuring product quality and market stability [5][6] - The independent directors reviewed the related party transactions and deemed them necessary and compliant with regulations, confirming that the transaction prices are reasonable and do not harm the interests of non-related shareholders [6][12]