Core Viewpoint - Jinshi Technology is further divesting non-new energy related subsidiaries to optimize resource allocation and reduce financial burdens, aligning with its strategic development plan [1][3]. Company Overview - Jinshi Technology, originally engaged in cigarette label printing, has transitioned to focus on new energy and new materials, particularly in supercapacitors and energy storage [3][5]. - The company was established in 2008 and has been restructuring its business model for over a year, entering the energy storage sector in March 2024 [4][5]. Recent Developments - On August 3, 2024, Jinshi Technology announced plans to transfer 100% equity of its wholly-owned subsidiary, Hunan Jinshi Technology, to optimize asset management [1]. - This follows the recent cancellation of another subsidiary, Jiangxi Jinshi Hengding Metal Co., Ltd., indicating a trend of divestment [1]. Financial Performance - Hunan Jinshi has reported no revenue for the first quarter of 2024 and a loss of approximately 14.58 million yuan in 2024 and 4.30 million yuan in Q1 2025 [4][5]. - Jinshi Technology has faced continuous losses over the past three years, with net profits of -36.59 million yuan in 2022, -44.57 million yuan in 2023, and -4.40 million yuan in 2024 [5]. - Despite entering the energy storage market, the company achieved a revenue of 376 million yuan in 2024, a significant increase of 1008.39% year-on-year, primarily concentrated in the fourth quarter [5]. Strategic Focus - The company aims to enhance its economic efficiency and service core clients through the establishment of subsidiaries like Hunan Jinshi, although the performance has not met expectations [4]. - Jinshi Technology's current revenue composition includes 68.7% from energy storage devices and 30.24% from lithium-ion battery thermal runaway detection and prevention systems [5].

Overview - The company, Zhejiang Chenfeng Technology Co., Ltd., plans to sell idle assets to improve liquidity and reduce maintenance costs, which includes selling vehicles to a related party and machinery to another company [1][3]. Asset Sale Details - The company intends to sell 6 idle vehicles to Haining Qiujing Investment Co., Ltd. and 53 idle machinery units to Haining Jinmao Hardware Co., Ltd. The total expected sale price is approximately 8.1461 million yuan (including tax), with an estimated disposal gain of about 3.6238 million yuan [3][6]. - The sale of the idle vehicles has a book value of 670,600 yuan and is expected to be sold for 1,721,100 yuan, representing a premium of 156.65% over the book value [6][7]. - The idle machinery has a book value of 2,914,500 yuan and is expected to be sold for 6,425,000 yuan, also indicating a significant premium [7][8]. Financial Impact - The total disposal gains from this transaction, combined with previous asset disposals in the last 12 months, are projected to exceed 10% of the company's latest audited net profit [9]. - The company has reported a net profit of 1,740,900 yuan for the last period, indicating that the expected gains from asset disposals will positively impact the current profit [9]. Related Party Transactions - The transaction involves related parties, specifically Haining Qiujing Investment Co., Ltd., which is controlled by a family member of a company director. However, this transaction does not constitute a major asset restructuring as per regulatory definitions [3][4]. - The company has ensured that the transaction adheres to legal and regulatory requirements, maintaining transparency and fairness for minority shareholders [8][9]. Approval Process - The asset disposal proposal has been approved by the company's independent directors and board of directors, with no objections raised during the voting process [10].