Core Viewpoint - Hangzhou Turbine Power Group Co., Ltd. reported its semi-annual financial results for 2025, showing a decline in key business income and net profit compared to the same period in 2024, indicating potential challenges in operational performance [1][5]. Financial Performance - Total assets increased to RMB 17,545.42 million as of June 30, 2025, compared to RMB 17,252.08 million at the beginning of the year, reflecting a growth of approximately 1.7% [1][3]. - Current assets totaled RMB 9,598.23 million, down from RMB 9,961.85 million at the start of the year, a decrease of about 3.6% [1][3]. - Net profit for the first half of 2025 was RMB 152.67 million, a decrease from RMB 180.94 million in the same period of 2024, representing a decline of approximately 15.6% [5][6]. Income and Costs - Key business income for the first half of 2025 was RMB 2,447.20 million, down from RMB 2,611.66 million in the first half of 2024, indicating a decrease of about 6.3% [4][5]. - Total business costs were RMB 2,342.93 million, compared to RMB 2,548.69 million in the previous year, showing a reduction of approximately 8.1% [4][5]. Cash Flow - Net cash generated from operating activities was negative at RMB -167.56 million for the first half of 2025, an improvement from RMB -333.59 million in the same period of 2024 [6][8]. - Cash flow from investing activities showed a net outflow of RMB -29.39 million, contrasting with a net inflow of RMB 143.40 million in the previous year [6][8]. Equity and Liabilities - Total liabilities decreased to RMB 7,616.18 million from RMB 7,735.09 million at the beginning of the year, a reduction of about 1.5% [3][4]. - Total owners' equity increased to RMB 9,929.24 million from RMB 9,516.99 million, reflecting a growth of approximately 4.3% [3][4].

Financial Overview - The company reported a total revenue of CNY 603,711,243.07 for the first half of 2025, a decrease from CNY 653,029,548.92 in the same period of 2024, representing a decline of approximately 7.5% [3][4] - Total operating costs for the first half of 2025 were CNY 603,890,285.62, down from CNY 647,538,364.36 in 2024, indicating a reduction of about 6.7% [4][5] - The net profit for the first half of 2025 was reported at CNY -139,840.44, compared to a net loss of CNY -4,828,953.85 in the same period of 2024, showing an improvement in financial performance [4][5] Assets and Liabilities - Total assets at the end of the reporting period were CNY 1,651,073,008.17, slightly up from CNY 1,636,887,160.60 at the beginning of the year [2][3] - Current assets totaled CNY 1,121,487,936.51, compared to CNY 1,108,048,528.90 at the start of the period, reflecting a modest increase [2][3] - Total liabilities increased to CNY 712,257,269.62 from CNY 696,600,044.40, indicating a rise in financial obligations [2][3] Cash Flow - The net cash flow from operating activities was CNY 7,345,307.96, a significant recovery from a negative cash flow of CNY -34,977,181.56 in the previous year [5][6] - Cash flow from investing activities showed a net inflow of CNY 18,961,154.88, compared to a net outflow of CNY -24,996,161.07 in the same period of 2024 [5][6] - Cash flow from financing activities resulted in a net inflow of CNY 22,497,034.25, up from CNY 1,749,415.00 in the previous year [5][6] Equity - Total equity at the end of the reporting period was CNY 938,815,738.55, slightly down from CNY 940,287,116.20 at the beginning of the year [2][3] - The company's retained earnings increased to CNY 104,476,324.14 from CNY 99,250,859.03, indicating a positive trend in profit retention [2][3] Key Ratios - Basic earnings per share for the first half of 2025 were CNY 0.0231, compared to CNY 0.0187 in the same period of 2024, reflecting an improvement in profitability per share [4][5] - The company's operating profit was CNY 4,789,559.66, a significant recovery from a loss of CNY -1,614,323.93 in the previous year [4][5]

Financial Overview - The company did not undergo an audit for its semi-annual financial report [1] - Total assets decreased from 4,694,759,462.62 yuan to 4,597,160,999.04 yuan [1][2] - Total liabilities decreased from 2,210,982,759.52 yuan to 2,054,017,572.60 yuan [2][3] - Total equity increased from 2,483,776,703.10 yuan to 2,543,143,426.44 yuan [2][3] Asset Composition - Current assets decreased from 3,560,586,795.85 yuan to 3,430,526,535.51 yuan [1] - Cash and cash equivalents decreased from 904,773,950.94 yuan to 685,108,129.82 yuan [1] - Inventory increased from 733,218,479.77 yuan to 785,805,070.73 yuan [1] Liabilities Breakdown - Current liabilities decreased from 2,141,672,477.86 yuan to 1,993,300,053.64 yuan [2] - Short-term borrowings decreased from 87,729,472.40 yuan to 74,647,817.95 yuan [1][2] - Accounts payable decreased from 867,757,474.48 yuan to 779,421,312.59 yuan [1][2] Equity Changes - Retained earnings increased from 645,565,196.76 yuan to 687,013,030.08 yuan [2] - Other comprehensive income increased from 189,767,216.78 yuan to 207,429,923.48 yuan [2] Revenue and Profitability - Total operating revenue for the first half of 2025 was 795,485,831.73 yuan, up from 689,187,321.59 yuan in the same period of 2024 [3][4] - Total operating costs increased from 678,066,758.25 yuan to 778,484,426.97 yuan [3][4] - Net profit for the first half of 2025 was 38,560,603.08 yuan, compared to 19,703,942.02 yuan in the first half of 2024 [4] Cash Flow Analysis - Net cash flow from operating activities was -136,133,325.49 yuan for the first half of 2025, compared to -49,163,430.65 yuan in the same period of 2024 [5] - Cash flow from investing activities was -40,549,600.60 yuan for the first half of 2025, compared to -20,290,896.99 yuan in the same period of 2024 [5][6] - Cash flow from financing activities was -23,597,979.87 yuan for the first half of 2025, compared to -116,102,152.03 yuan in the same period of 2024 [5][6]

Financial Overview - The total assets of the company as of the end of the reporting period amounted to CNY 6,778,126,280.47, an increase from CNY 6,660,284,764.42 at the beginning of the period [3] - Total liabilities decreased to CNY 3,238,642,290.91 from CNY 3,964,780,386.48, indicating a reduction in the company's debt levels [3] - Total equity increased to CNY 3,539,483,989.56 from CNY 2,695,504,377.94, reflecting a growth in shareholder value [3] Income Statement Highlights - The company reported total operating revenue of CNY 2,452,036,963.81 for the first half of 2025, up from CNY 2,298,206,905.57 in the same period of 2024, representing a growth of approximately 6.7% [5] - Total operating costs decreased to CNY 2,166,723,808.63 from CNY 2,205,125,556.35, showing a reduction of about 1.7% [5] - The net profit for the period was CNY 281,269,248.85, a significant increase compared to CNY 37,152,830.46 in the previous year [6] Cash Flow Analysis - The net cash flow from operating activities was CNY 91,439,060.38, a recovery from a negative cash flow of CNY -114,178,134.33 in the previous period [8] - Cash flow from investing activities showed a net outflow of CNY -56,526,408.71, compared to a net outflow of CNY -50,729,029.38 in the prior year [8] - Cash flow from financing activities resulted in a net outflow of CNY -98,167,454.41, which is an improvement from the previous year's outflow of CNY -118,766,578.26 [8] Asset Composition - Current assets totaled CNY 2,696,399,878.57, up from CNY 2,443,087,852.34, indicating a strong liquidity position [1] - Non-current assets decreased to CNY 4,081,726,401.90 from CNY 4,217,196,912.08, reflecting a slight contraction in long-term investments [1] Liabilities Breakdown - Current liabilities increased to CNY 2,728,150,420.30 from CNY 2,664,322,526.36, indicating a rise in short-term obligations [3] - Non-current liabilities significantly decreased to CNY 510,491,870.61 from CNY 1,300,457,860.12, suggesting a reduction in long-term debt [3] Earnings Per Share - Basic earnings per share rose to CNY 0.69 from CNY 0.09, while diluted earnings per share increased to CNY 0.60 from CNY 0.09, indicating improved profitability on a per-share basis [6]

Company Overview - Fujian Wancheng Biotechnology Group Co., Ltd. was established on December 21, 2011, with an initial registered capital of 20 million RMB [1] - The company underwent a name change from Fujian Wancheng Biotechnology Co., Ltd. and is primarily engaged in the cultivation and sale of horticultural crops, including edible mushrooms [1][2] - The company has a total of 79 subsidiaries included in the consolidated financial statements as of May 31, 2025 [2] Financial Highlights - The company completed a public offering of 38.375 million shares, increasing its total share capital from 115.125 million to 153.5 million shares in April 2021 [1] - As of May 31, 2025, the total share capital of the company is 179,989,761 RMB [1] - The company has committed to achieving net profits of no less than 320 million RMB, 330 million RMB, and 350 million RMB for the years 2025, 2026, and 2027, respectively, totaling a minimum of 1 billion RMB during the commitment period [2] Major Asset Restructuring - The company is involved in a significant asset restructuring transaction, acquiring a 49% stake in Nanjing Wanyou Commercial Management Co., Ltd. for a total consideration of 1.379225 billion RMB [2] - The payment for this transaction will be made using the company's own and self-raised funds within 30 days after the completion of the transaction conditions [2] Accounting Policies - The consolidated financial statements are prepared based on the accounting standards set by the Ministry of Finance and relevant regulations [2] - The company follows specific accounting policies and estimates related to its main operating activities, including inventory and revenue recognition [2][3] Corporate Governance - The actual controller of the company is Wang Zenning, and the parent company is Fujian Sensitive Grass Agricultural Development Co., Ltd. [2] - The company has implemented an incentive plan for its employees, with stock options granted at prices of 12.07 RMB and 18.65 RMB per share [1][2]

Financial Overview - The total assets of the company as of June 30, 2025, amounted to approximately RMB 13.14 billion, a decrease from RMB 13.50 billion as of December 31, 2024 [1][2][3] - Total liabilities decreased to approximately RMB 1.20 billion from RMB 1.49 billion during the same period [1][2][3] - Shareholder equity totaled approximately RMB 11.95 billion, down from RMB 12.01 billion [2][3][6] Income Statement Highlights - The company's total operating revenue for the first half of 2025 was approximately RMB 2.06 billion, an increase from RMB 1.98 billion in the same period of 2024, reflecting a growth of about 4% [3][4] - Operating costs rose to approximately RMB 1.80 billion from RMB 1.75 billion, indicating an increase of about 3% [3][4] - The net profit for the first half of 2025 was approximately RMB 440 million, compared to RMB 235 million in the same period of 2024, representing a significant increase [3][4][5] Cash Flow Analysis - The net cash flow from operating activities for the first half of 2025 was approximately RMB 135 million, a notable increase from RMB 33 million in the same period of 2024 [4][5] - Cash flow from investing activities showed a net inflow of approximately RMB 23 million, a decrease from RMB 921 million in the previous year [4][5] - Cash flow from financing activities resulted in a net outflow of approximately RMB 504 million, compared to RMB 558 million in the first half of 2024 [4][5] Shareholder Equity Changes - The total equity attributable to shareholders of the parent company decreased to approximately RMB 11.89 billion from RMB 11.95 billion [2][6] - The company reported a decrease in other comprehensive income, which was negative RMB 6.50 million compared to a positive RMB 5.85 million in the previous period [2][6] - The retained earnings as of June 30, 2025, were approximately RMB 6.29 billion, down from RMB 6.38 billion [2][6]

Company Overview - Guangdong Aofei Data Technology Co., Ltd. was established on August 4, 2014, with a registered capital of 114.2 million RMB after a capital increase of 53.25 million RMB through the issuance of shares at 37.50 RMB each [1] - The company underwent several capital increases and stock issuances, including a non-public offering of 816,500 shares at 84.28 RMB each in 2016, raising 68.81 million RMB, and a public offering of 16.32 million shares in 2018, increasing the registered capital to 65.26 million RMB [1] - As of April 4, 2023, the company issued 103.65 million shares to 11 specific investors, raising the registered capital to 794.64 million RMB [1] Financial Reporting Basis - The financial statements are prepared based on the going concern assumption, following the accounting standards and guidelines set by the relevant authorities [1] - The company has assessed its ability to continue as a going concern and found no issues affecting this assumption [1] Important Accounting Policies - The company adheres to significant accounting policies and estimates as per the enterprise accounting standards, ensuring that the financial statements reflect a true and complete picture of its financial status, operating results, and cash flows [1][2] - The company recognizes and measures transactions based on actual occurrences, ensuring compliance with the disclosure rules set by the China Securities Regulatory Commission [1] Capital Changes - The company has executed multiple capital increases through stock issuances and capital reserves, including a significant increase in registered capital to 1.99 billion RMB after a capital reserve conversion [1] - The company issued convertible bonds in December 2021, which will convert into approximately 23.99 million shares by December 31, 2024, further increasing the registered capital [1] Financial Instruments - The company classifies financial instruments based on their characteristics and management objectives, including those measured at amortized cost and those measured at fair value [19][20] - Financial assets are assessed for impairment based on expected credit losses, ensuring that potential losses are recognized in a timely manner [23]

Company Overview - Fujian Guangshentang Pharmaceutical Co., Ltd. was established as a joint-stock company from the transformation of Fujian Guangshentang Pharmaceutical Co., Ltd. [1] - The company is located in Fujian Province, with its registered capital and paid-in capital both amounting to 159.267 million RMB as of December 31, 2024 [3]. Business Nature and Activities - The company operates in the pharmaceutical manufacturing industry, with a business scope that includes drug production, wholesale, retail, food sales, health food production, and drug import/export [3]. - The company has 13 subsidiaries included in its consolidated financial statements, with an increase of 2 subsidiaries compared to the previous period [3]. Financial Reporting - The financial statements were approved by the board of directors on April 16, 2025 [4]. - The company prepares its financial statements based on actual transactions and events, adhering to the accounting standards set by the Ministry of Finance [4]. Financial Condition - The company has experienced continuous losses over the past three years due to significant R&D investments, with a consolidated asset-liability ratio of 72.42% as of December 31, 2024 [4]. - The company has a total of 300 million RMB in borrowings, with available cash of 143 million RMB and unused credit lines of 125 million RMB, indicating a strategy to maintain liquidity [4]. Capital Structure - The company issued 17.5 million A-shares in 2015, with 3.5 million shares being transferred and 14 million new shares issued [1]. - In 2021, the company issued 18.777 million shares to specific investors, with the new shares listed on July 9, 2021 [1]. Stock Option Plan - The company approved a stock option incentive plan, allowing 22 eligible participants to exercise 798,000 stock options at a price of 31.23 RMB per share, with a total exercise amount of approximately 15.3 million RMB [2].

PAN-CHINA Certified Public Accountants 无锡芯动半导体科技有限公司 2024 年度审计报告 PAN-CHINA 天健会计师事务所 Pan-China Certified Public Accountants 目 录 | 一、审计报告……………………………………………………… | 第 | 1—3 页 | | --- | --- | --- | | 二、财务报表……………………………………………………… | 第 | 4—7 页 | | （一）资产负债表………………………………………………… | 第 | 4 页 | | --- | --- | --- | | （二）利润表……………………………………………………… | 第 | 5 页 | | （三）现金流量表………………………………………………… | 第 | 6 页 | | （四）所有者权益变动表………………………………………… | 第 | 7 页 | 审 计 报 告 天健审〔2025〕174 号 无锡芯动半导体科技有限公司全体股东： 一、审计意见 我们审计了无锡芯动半导体科技有限公司（以下简称芯动半导体公司）财务 报表，包括 ...