Core Points - The purpose of the compensation management system is to establish an incentive and restraint mechanism that aligns with modern enterprise management requirements, enhancing the operational efficiency and management level of the company [2] - The system applies to the board members and senior management of Shanghai Qifan Cable Co., Ltd., including independent directors, internal directors, and senior management personnel [2][3] Summary by Sections Chapter 1: Purpose - The system aims to motivate senior management and improve business performance based on relevant laws and the company's actual situation [2] Chapter 2: Scope of Application - The system is applicable to all members of the board of directors and senior management, including independent and internal directors [2] Chapter 3: Management Principles - Compensation is based on economic indicators and comprehensive management, adhering to principles such as aligning compensation with long-term company interests and linking pay to performance [3] Chapter 4: Management Organization - The shareholders' meeting is responsible for reviewing the compensation management system, while the board's compensation and assessment committee oversees its implementation [3] Chapter 5: Composition and Standards of Compensation - Compensation for directors and senior management includes a monthly salary, performance bonuses, and is linked to the company's annual performance [4][5] Chapter 6: Performance Assessment Procedures - The human resources and finance departments are responsible for developing annual performance assessment systems and procedures, subject to board approval [4] Chapter 7: Payment of Compensation - Monthly salaries are paid via bank transfer, and performance bonuses are distributed after the fiscal year based on assessment results [6] Chapter 8: Other Management - Internal directors and senior management must sign labor contracts, and a responsibility accountability system is in place for poor performance or decision-making failures [8] Chapter 9: Supplementary Provisions - The system is subject to national laws and regulations, with the board holding the interpretation rights [9]

Core Viewpoint - The company has elected Mr. Pan Zeguo as the employee representative director of the second board, ensuring compliance with relevant regulations and maintaining a balanced board structure [1][2]. Group 1: Board Election - The company held an employee representative meeting on July 6, 2025, where Mr. Pan Zeguo was unanimously elected as the employee representative director [1]. - The election results were publicly announced, and the announcement period ended on July 11, 2025, with no objections raised [1]. - Mr. Pan Zeguo's term will last until the end of the current board's term, and the number of employee representative directors will not exceed half of the total board members [1]. Group 2: Mr. Pan Zeguo's Background - Mr. Pan Zeguo holds a bachelor's degree and is a senior engineer, currently serving as the vice president of the Qingyuan Entrepreneurs Association and the managing partner of Qingyuan Lianying Commercial Development Partnership [1]. - He joined the company in 2002 and has held various positions, including workshop director, sales manager, and financial officer, and is currently the director, deputy general manager, and board secretary [1]. Group 3: Compliance and Qualifications - As of the announcement date, Mr. Pan Zeguo does not hold any shares in the company and has no relationships with shareholders holding more than 5% of the company's shares [2]. - He has not faced any penalties from the China Securities Regulatory Commission or other relevant authorities, nor has he been under investigation for criminal activities [2]. - His qualifications meet the requirements set forth by the Company Law of the People's Republic of China and the Shenzhen Stock Exchange regulations [2].

Core Viewpoint - The company has successfully developed a series of RF coaxial cable products suitable for aerospace and maritime applications, aiming to break the monopoly of foreign enterprises in this field and gradually increase its market share in China [1] Group 1 - The company has increased its R&D investment to develop RF coaxial cable products [1] - The products are applicable in the aerospace and maritime sectors [1] - The company is achieving import substitution for some of its products [1]

Core Viewpoint - The company is planning a differentiated dividend distribution for the fiscal year 2024, which involves cash dividends without stock bonuses or capital increases, based on the total number of shares after accounting for share buybacks [4][5][6]. Group 1: Dividend Distribution Details - The company’s net profit attributable to shareholders for 2024 is reported as 319,324,251.63 yuan, with a proposed cash dividend of 0.635 yuan per 10 shares, totaling approximately 32,105,776.59 yuan, which represents 10.05% of the net profit [4][5]. - The total share capital as of April 17, 2025, is 511,482,781 shares, but after deducting shares in the buyback account, the base for dividend distribution is adjusted to 505,602,781 shares [4][5]. - Following a subsequent adjustment due to further share buybacks, the total cash dividend amount is revised to 32,067,676.5935 yuan [4][5]. Group 2: Legal Compliance and Procedures - The differentiated dividend distribution complies with relevant regulations, including the Company Law, Securities Law, and specific guidelines for share buybacks [5][7]. - The company will maintain the per-share distribution ratio even if the total share capital changes due to buybacks or cancellations, ensuring that the total distribution amount is adjusted accordingly [5][6]. - The calculation for the ex-dividend reference price is based on the formula that considers the previous closing price and the cash dividend, with a negligible impact on the reference price [6].

Core Viewpoint - Xin Hongye plans to raise no more than 300 million yuan through a targeted issuance of shares to strengthen its market position in the special cable industry [1][2]. Fundraising and Projects - The company intends to use the raised funds for three major projects: 1. Super Fusion Conductor Cable R&D and Industrialization Project with a total investment of approximately 215 million yuan, aiming to produce 1.8 million kilometers of low-voltage wires annually [2]. 2. High-Power Charging Connection and Cooling System R&D and Industrialization Project with a total investment of 54.82 million yuan, targeting an annual production of 22,000 liquid-cooled supercharging guns and 11,000 thermal management systems [2]. 3. New Generation Nuclear Power Station Special Cables and Electrical Penetration Components R&D and Industrialization Project with a total investment of 49.57 million yuan, aiming for an annual output of 30,000 kilometers of nuclear power cables and 250 electrical penetration components [2]. Financial Performance - As of Q1 2025, Xin Hongye reported a revenue of 755 million yuan, a year-on-year increase of 55.35%, and a net profit attributable to shareholders of 34.43 million yuan, up 20.43% year-on-year [6]. - The company’s revenue for 2024 reached 2.648 billion yuan, marking a historical high, although the net profit decreased by 29.61% to 116 million yuan [6]. Market Position and Product Development - Xin Hongye focuses on various special cables, including those for new energy vehicles, charging stations, photovoltaic systems, and nuclear power [4]. - The company has established itself as a core supplier for major clients like BYD and Li Auto, particularly in the electric vehicle sector [5]. - Xin Hongye is also expanding into emerging markets such as humanoid robotics and low-altitude economy, providing customized cable solutions for complex applications [5]. R&D Investment - The company has been increasing its R&D investment, with amounts of 54.70 million yuan in 2022, 61.30 million yuan in 2023, and projected 82.39 million yuan in 2024, representing a steady increase in the proportion of R&D investment relative to revenue [6].

Summary of Hongyun Electric's Conference Call Company Overview - **Company**: Hongyun Electric - **Acquisition**: Acquired 54.16% stake in Dawai Interconnect in January 2025 to expand into AI computing and new energy high-speed cable sectors [2][3][10] Financial Performance - **2024 Revenue**: Approximately 3.4 billion RMB with a net profit of around 200 million RMB [2][10] - **2025 Revenue Projection**: Expected to reach 4 billion RMB in traditional business [2][10] - **Dawai Interconnect Q1 2025 Performance**: Generated over 30 million RMB in revenue and over 7 million RMB in net profit, nearing last year's total [4][10] - **2025 Total Revenue Target**: 41-42 billion RMB, with traditional business at 35 billion RMB and new energy at 5 billion RMB [5][10] Business Segments Traditional Business - **Segments**: Home appliances, computers, terminals, and new energy [3][10] - **Key Clients**: Includes major brands like Dell, HP, Samsung, LG, and BYD [5][7][9] New Energy Business - **Products**: New energy charging guns, cables, and sockets [9][10] - **Market Position**: Exclusive supplier for Xiaomi's SU7 charging gun, holding 70% market share for SAIC-GM Wuling Bingo model [2][9][10] - **Profit Margins**: Charging guns have a gross margin of 10%-20%, higher than traditional business [2][21] Dawai Interconnect Insights - **Client Structure**: Top three clients account for 70%-80% of revenue [13][14] - **Revenue Growth**: Expected to exceed 200 million RMB in 2025, with a long-term goal of becoming a market leader in high-speed cables [12][15] - **Profitability**: Gross margin over 30% and net margin over 20% [14][26] Market Dynamics - **Automotive Wiring Market**: Significant growth potential, with high-voltage wiring market estimated at 300-500 billion RMB [24][26] - **Competitive Landscape**: Domestic manufacturers gaining market share but still lagging behind international giants like TE Connectivity and Amphenol [24][26] Future Outlook - **2026 Revenue Target**: Aim to reach 5 billion RMB in high-speed cable revenue and total revenue of 50 billion RMB [26] - **Margin Expectations**: Traditional business net margin around 5%-6%, while high-speed cables expected to achieve 30%-40% gross margin [26] Additional Insights - **Production Equipment**: Investment in Rosenberger equipment to enhance production quality and expand product lines [16][18] - **Challenges**: Domestic production of high-speed cable equipment faces challenges, relying on imported technology [17][18] - **Collaboration with Xiaomi**: Exploring further partnerships in high-voltage and low-voltage wiring for electric vehicles [23][20] This summary encapsulates the key points from the conference call, highlighting Hongyun Electric's strategic direction, financial performance, and market positioning.

Summary of Key Points Core Viewpoint - The company, Guangdong New Asia Cable Co., Ltd., has adjusted the amount of funds to be invested in its fundraising projects due to the actual net amount raised being lower than initially disclosed in the prospectus, ensuring that the adjustments do not change the intended use of the funds and will not adversely affect the company's operations or financial status [1][2][3]. Fundraising Basic Situation - The company successfully issued 62 million shares at a price of 7.40 RMB per share, raising a total of approximately 400.71 million RMB after deducting expenses [1][2]. Adjustment of Fund Investment Amount - The total investment for the fundraising projects remains at 439,084,900 RMB, but the adjusted amount to be invested from the raised funds is now 400,712,786.31 RMB, with the shortfall to be covered by the company's own funds or through self-raised funds [2][3]. Impact on the Company - The adjustment is a prudent decision based on the actual funds received and the company's operational needs, aimed at ensuring the smooth implementation of the projects and improving fund utilization efficiency, without harming the interests of the company or its shareholders [2][4]. Review Procedures and Opinions - The board of directors approved the adjustment on June 12, 2025, stating that it aligns with the company's strategic planning and does not harm shareholder interests [3][4]. - The independent directors also supported the adjustment, confirming compliance with relevant regulations and the company's fundraising management system [4][5]. - The supervisory board reviewed and approved the adjustment, affirming that it followed necessary decision-making procedures and would not materially affect the normal use of the raised funds [5]. Sponsor's Verification Opinion - The sponsor, GF Securities, confirmed that the adjustment has been properly reviewed and approved by the board and supervisory board, complies with regulatory requirements, and does not affect the normal fundraising investment plan [5].

Core Points - The document outlines the rules for the shareholders' meeting of Guangdong Xinya Optical Cable Co., Ltd, ensuring compliance with relevant laws and regulations [1][2][3] - The company emphasizes the importance of timely and lawful convening of shareholders' meetings, with responsibilities assigned to the board of directors [1][2] - The rules specify the procedures for both annual and temporary shareholders' meetings, including the requirements for legal opinions and the rights of shareholders to propose meetings [2][3][5] Group 1 - The shareholders' meeting is categorized into annual and temporary meetings, with annual meetings required to be held within six months after the end of the previous fiscal year [2] - Legal opinions must be obtained for the meeting's convening procedures, attendance qualifications, and voting results [2][5] - Independent directors and shareholders holding more than 10% of shares have the right to propose temporary meetings, with specific timelines for responses from the board [3][5] Group 2 - The document details the rights of shareholders to propose agenda items and the requirements for notifying shareholders about the meetings [7][8] - It mandates that the notice for the annual meeting must be sent 20 days in advance, while temporary meetings require a 15-day notice [8][10] - The rules ensure that all shareholders have the right to attend and vote, with provisions for proxy voting [10][12] Group 3 - The document outlines the voting procedures, including the requirement for separate counting of votes for matters affecting minority investors [15][16] - It specifies that the board must report on its activities during the past year at the annual meeting, and independent directors must also provide reports [14][31] - The rules stipulate that any resolutions passed must be announced promptly, detailing the voting results and attendance [42][48]

Core Viewpoint - The company has made adjustments to its fundraising investment projects, which have been approved by the supervisory board, ensuring compliance with relevant laws and regulations while maintaining the integrity of shareholder interests [1][2][3]. Group 1: Supervisory Board Meeting - The supervisory board meeting was held on June 12, 2025, with all three members present, confirming the legality and validity of the meeting [1]. - The board unanimously approved the adjustment of the amount of funds to be invested in fundraising projects, based on the actual situation of the funds raised and the urgency of various projects [2]. Group 2: Fundraising Project Adjustments - The board approved adjustments to the implementation locations and internal investment structure of certain fundraising projects, ensuring that these changes do not affect the normal operation of the company or harm shareholder interests [2][3]. - The board also approved the use of raised funds to replace self-raised funds previously invested in fundraising projects and to cover issuance costs, enhancing the efficiency of fund utilization [3][4]. Group 3: Payment Methods for Fundraising Projects - The board agreed to use the company's own funds and acceptance bills to pay for the necessary funds for fundraising projects, with the intention to replace these with raised funds later, ensuring compliance with regulatory requirements [4][5].

Meeting Details - The company will hold its first extraordinary general meeting of shareholders for 2025 on June 30, 2025, at 2:00 PM [2] - Network voting will be available on the Shenzhen Stock Exchange trading system from 9:15 AM to 3:00 PM on the same day [2][4] - Shareholders must register for the meeting by providing necessary identification and documentation [3] Voting Procedures - Shareholders can vote either in person or through the internet voting system [4] - The voting process includes specific instructions for both the trading system and internet voting [4][5] - The first valid vote will be considered if there are duplicate votes for the same proposal [4] Agenda Items - The meeting will review proposals that have been approved by the company's board of directors [3] - A special resolution requires approval from more than two-thirds of the voting shares present at the meeting [3] - Proposals include amendments to the company's articles of association and related rules [9]