Company Overview - Beijing Zhizhen Technology Co., Ltd. (the "Company") has announced its half-year report for 2025, highlighting its operational results and financial status [1][8]. - The Company has confirmed that all directors attended the board meeting to review the report [2]. Financial Highlights - The Company plans not to distribute cash dividends or issue bonus shares for the reporting period [3]. - The board approved a profit distribution plan for the fiscal year 2024, which includes a cash dividend of RMB 0.6487 per 10 shares, based on a total share capital of 101,820,000 shares after deducting repurchased shares [5][6]. Board Meeting Decisions - The board meeting held on August 20, 2025, approved the half-year report and its summary, confirming that it accurately reflects the Company's operational and financial conditions [8][9]. - The board also approved a special report on the use of previously raised funds, which was verified by an external accounting firm [12][14]. Business Expansion - The Company intends to expand its business scope to include first-class value-added telecommunications services and non-residential real estate leasing [15][59]. - The board proposed to revise the Company’s articles of association to reflect these changes, which will require shareholder approval [16][61]. Funding and Financial Management - The Company plans to apply for a comprehensive credit facility of up to RMB 400 million from banks to support its operational and business expansion needs [19]. - The credit facility will be valid for 12 months and can be used for various financing activities, including working capital loans and trade financing [19]. Upcoming Shareholder Meeting - The Company will hold its fifth extraordinary general meeting on September 9, 2025, to discuss the approved proposals from the board meeting [24][30]. - Shareholders will have the option to vote in person or through an online platform [27][36].

Group 1 - The core viewpoint of the announcement is that the Supervisory Board of Wuhan Xianglong Electric Power Co., Ltd. has convened its 11th meeting and approved the 2025 semi-annual report, confirming compliance with legal and regulatory requirements [1][2] - The meeting was held on August 20, 2025, with all three attending supervisors present, meeting the requirements of the Company Law and the Articles of Association [1] - The Supervisory Board concluded that the preparation and review process of the 2025 semi-annual report adhered to relevant laws, regulations, and internal management systems, accurately reflecting the company's financial status and operational results [2] Group 2 - The proposal regarding the provision and reversal of asset impairment was also approved unanimously by the Supervisory Board [2] - The details of the asset impairment provision and reversal will be disclosed in a separate announcement on the Shanghai Stock Exchange [2]

Group 1 - The company has conducted a comprehensive review of its assets as of June 30, 2025, and identified potential impairment indicators, leading to the recognition of impairment provisions for accounts receivable, other receivables, inventory, and other non-current assets totaling CNY 40,167,637.23 [1][2] - The impairment provisions include a credit impairment loss of CNY 6,117,503.96 for accounts receivable, a reversal of CNY 333,062.94 for other receivables, an impairment of CNY 39,012,806.11 for inventory, and a reversal of CNY 4,629,609.90 for other non-current assets [1][2] - The recognition of these impairment provisions is in accordance with the relevant accounting standards and company policies, and it is stated that this action does not involve profit manipulation or harm to the interests of the company and its shareholders [2] Group 2 - The recognition of impairment provisions is expected to increase the company's total profit for the first half of 2025 by CNY 40,167,637.23, although this has not been audited [2] - The company employs a cautious approach based on actual asset conditions and impairment testing to ensure a fair representation of its financial status and asset values as of June 30, 2025 [2] - The company uses a cost versus net realizable value approach for inventory measurement, applying impairment provisions based on specific criteria for different types of inventory [2][3] Group 3 - The company assesses expected credit losses for financial assets based on a three-stage model, considering the credit risk since initial recognition and adjusting loss provisions accordingly [3][4][5] - For lease receivables and contract assets, the company applies a simplified measurement method to estimate expected credit losses over the entire duration of the financial instruments [4][5] - The company evaluates credit risk for financial instruments at each balance sheet date, determining whether the credit risk has significantly increased since initial recognition [4][5]