Core Viewpoint - The report outlines the continuous supervision and compliance status of Zhejiang Shuangyuan Technology Co., Ltd. by Minsheng Securities, emphasizing the company's adherence to regulations and the absence of significant violations during the supervision period [1][2][4]. Continuous Supervision Work Status - Minsheng Securities has established and effectively implemented a continuous supervision system for Shuangyuan Technology, including a work plan [2]. - A continuous supervision agreement was signed with Shuangyuan Technology, clarifying the rights and obligations of both parties during the supervision period [2]. - The supervision activities included regular communication, site inspections, and due diligence to ensure compliance with laws and regulations [2][3]. - No violations or breaches of commitments were reported by Shuangyuan Technology during the first half of 2025 [2][4]. Financial Performance - For the first half of 2025, Shuangyuan Technology reported a revenue of 161.50 million yuan, a decrease of 9.39% compared to the previous period [5]. - The net profit attributable to shareholders decreased by 27.91% to 6.20 million yuan per share [5]. - The company's total assets as of June 30, 2025, were 2.61 billion yuan, down 2.19% from the end of 2024 [5]. Core Competitiveness - The company maintains a strong focus on technology research and development, with R&D expenses accounting for 12.17% of revenue, an increase of 1.25 percentage points year-on-year [5][14]. - Shuangyuan Technology has developed a range of core technologies in online automation measurement and control systems, enhancing its competitive edge in various industries [9][10]. - The company has established stable partnerships with leading enterprises in the new energy battery sector, contributing to its robust customer base [12]. Use of Raised Funds - As of June 30, 2025, Shuangyuan Technology has utilized 71.13 million yuan of the raised funds for various projects, including the establishment of an intelligent measurement and control equipment production base [15]. - The remaining balance of the raised funds was 102.84 million yuan, which includes interest income [15][16]. - The company has complied with regulations regarding the use of raised funds, ensuring proper storage and usage in accordance with legal requirements [20].