Core Viewpoint - Shenzhen Jinsda Applied Materials Co., Ltd. was found to have engaged in tax evasion by falsely claiming research and development (R&D) expenses, specifically through the misrepresentation of gold material costs, resulting in a tax underpayment of 16.21 million yuan [1][8]. Group 1: Tax Evasion Details - The company reported over 80 million yuan in gold as R&D expenses without corresponding product output or waste recovery records [2]. - The company's claim of significant gold loss during the refining process was disproven by evidence from two refining institutions, which indicated minimal loss and that the gold returned was approximately equal in weight to what was processed [5][7]. - A thorough analysis of over 30 R&D projects revealed that 17 projects had inflated gold material expenses, leading to the tax underpayment [8]. Group 2: Legal Consequences - The tax authority has mandated the company to repay the underpaid taxes, along with penalties and late fees totaling 36.18 million yuan [1]. - The legal framework under which the company was penalized includes provisions for tax evasion, which can lead to severe fines and potential criminal charges [10].

Core Viewpoint - Kaisheng Technology (600552.SH) reported a significant increase in revenue and net profit for Q1 2025, driven by reduced losses in traditional display materials and successful market acceptance of new products [1] Group 1: Financial Performance - The company achieved a revenue of 1.265 billion yuan in Q1 2025 [1] - The net profit attributable to shareholders reached 23.8475 million yuan, marking a year-on-year increase of 73.01% [1] Group 2: Business Segments - Kaisheng Technology operates primarily in two segments: display materials and application materials [1] - In the display materials sector, the company has established a comprehensive industrial chain from glass substrates to integrated modules, enhancing cost control and quality consistency [1] Group 3: Application Materials - The application materials business focuses on zirconium, silicon, and titanium, transitioning from traditional ceramics to high-value electronic applications such as semiconductors and biomedical materials [2] - The company has developed a "large industry" platform for new materials, leveraging its leading position in the electric melting zirconia industry [2] Group 4: Innovation and R&D - Innovation is a core driver for the company's growth, with significant investments in R&D through national-level innovation platforms [2] - Kaisheng Technology has obtained a total of 582 authorized patents, including 167 invention patents [2] Group 5: Market Presence and Talent - The company has established a strong marketing network serving both domestic and international clients, including major brands like Amazon and Samsung [3] - Kaisheng Technology boasts a robust R&D team of 724 members and has received national recognition for its engineering teams [3] Group 6: Future Outlook - For 2025, the company aims to enhance operational quality and integrate technology with industry innovation, focusing on high-value product expansion in electronic information and semiconductor markets [3]