Core Viewpoint - Xiangjiang Electric reported a significant decline in financial performance in its first interim report post-IPO, with revenue, gross profit, and net profit all decreasing compared to the previous year [1][4]. Financial Performance - The company's revenue for the reporting period was 543 million yuan, a decrease of 11.7% from 614 million yuan in the same period last year [1]. - Gross profit fell from 137 million yuan to 108 million yuan, representing a decline of 21.7% [1]. - Net profit decreased from 60.5 million yuan to 25.3 million yuan, a drop of 58.2% [1]. Management and Ownership Structure - Guangshe Pan, the son of founder Pan Yun, holds a significant position within the company, having been involved in various management roles since 2016 [3]. - Pan Yun directly holds 54.07% of the company's shares and controls an additional 19.54% of voting rights through an employee stock ownership platform, consolidating his control over Xiangjiang Electric [3]. - Together with his son, they hold 26.39% of the company's shares, further reinforcing their influence [3]. Market Challenges - The decline in performance is attributed primarily to reduced sales revenue from overseas markets, which are subject to high uncertainty and risk, especially in the context of a complex global economic environment [4].