Group 1: Financial Performance - The company's revenue in Q1 2025 remained stable, but profit declined due to a decrease in overall gross margin and increased R&D investment [3] - The gross margin decline is attributed to changes in customer and product structure, with some high-margin products nearing the end of their lifecycle [3] - In 2023, sales to the U.S. accounted for 23.05% of total sales, decreasing to 22.01% in 2024, averaging 22.53% [3] Group 2: External Factors Impacting Performance - External factors include customer adjustments to shipment schedules due to unfavorable U.S. tariff policies, impacting Q1 2025's shipment volume and profit [3] - The company has shifted some production to Malaysia, incurring additional costs and facing initial production inefficiencies, further affecting gross margin [3] Group 3: Strategic Responses - To mitigate external uncertainties, the company plans to enhance market development in the EU and other regions, focusing on products like AI glasses and home medical devices [3] - The company has maintained a stable relationship with major clients and does not foresee risks of terminating partnerships [4] Group 4: Product Development and Market Outlook - The AI glasses market is currently in its early stages, with expected annual shipments around 100,000 units [4] - The company is actively monitoring the development of various wearable products, including smart rings, and is not limited to a single product category [4]

Group 1 - The core point of the article is that Chaoyang Technology's stock has hit the limit down, declining by 15.52% this year, and the company is facing challenges in the electric sound industry [1] - Chaoyang Technology, established in March 2005, specializes in the research, manufacturing, and sales of intelligent complete machines, precision components, and precision structural parts [1] - Three funds under Xinda Australia Fund have entered the top ten shareholders of Chaoyang Technology, with a holding ratio of 1.17% [1] Group 2 - The funds that invested in Chaoyang Technology include Xinda New Energy Industry Stock, Xinda Zhiyuan Three-Year Holding Mixed A, and Xinda Leading Smart Selection Mixed, all of which are newly entered in the first quarter of this year [1] - The year-to-date returns for these funds are as follows: Xinda New Energy Industry Stock at -10.34%, Xinda Zhiyuan Three-Year Holding Mixed A at -10.24%, and Xinda Leading Smart Selection Mixed at -10.55% [1] - The rankings of these funds among their peers are 730 out of 856 for Xinda New Energy Industry Stock, 3580 out of 4303 for Xinda Zhiyuan Three-Year Holding Mixed A, and 3650 out of 4303 for Xinda Leading Smart Selection Mixed [1]

Core Viewpoint - The internal control evaluation report of Gongda Electric Sound Co., Ltd. indicates that the company has maintained effective internal controls over financial reporting and has not identified any significant deficiencies in both financial and non-financial reporting as of December 31, 2024 [2][3][16]. Internal Control Evaluation Conclusion - The company has confirmed that there are no significant deficiencies in financial reporting internal controls as of the evaluation report date [2][3]. - Similarly, there are no significant deficiencies identified in non-financial reporting internal controls [2][3]. Internal Control Evaluation Scope - The evaluation covered all major units, businesses, and high-risk areas, with 100% of the total assets and operating income of the company and its subsidiaries included in the evaluation [3][4]. Internal Control Structure - The company has established a governance structure that includes a board of directors, supervisory board, and management team, ensuring clear responsibilities and checks and balances [4][5]. - The board has set up specialized committees, including the audit committee, to enhance governance and decision-making processes [4][5]. Internal Control Mechanisms - The company has implemented strict authorization procedures for the use and storage of cash, ensuring separation of incompatible duties and compliance with relevant regulations [7][8]. - A comprehensive budget and cost control management system is in place to monitor and analyze budget execution, preventing deviations from financial targets [8][9]. Procurement and Sales Controls - The company has established clear procedures for procurement and payment, including supplier qualification assessments and competitive bidding processes to ensure cost-effectiveness and quality [9][10]. - Sales strategies are developed based on industry research, with strict controls over sales processes and revenue recognition to enhance cash flow management [10]. Contract and Risk Management - A robust contract approval system is in place, ensuring proper tracking and management of various contracts [11]. - The company has a unified management system for external guarantees, focusing on risk assessment and compliance with disclosure obligations [12]. Compliance and Ethical Standards - The company is committed to legal compliance and ethical standards, including prohibiting child labor and forced labor, and ensuring a safe working environment for employees [6][7]. - The company emphasizes the importance of corporate culture and employee training to support the internal control system [5].

天键电声股份有限公司 首次公开发行股票并在创业板上市 发行结果公告 保荐人（主承销商）： 天键电声股份有限公司(以下简称"天键股份"或"发行人")首次公开发行不超 过 2,906.0000 万股人民币普通股（A 股）（以下简称"本次发行"） 并在创业板 上市的申请已经深圳证券交易所（以下简称"深交所"）创业板上市委员会审议通 过，并已经中国证券监督管理委员会（以下简称"中国证监会"）同意注册（证监 许可〔2023〕1005 号）。本次发行的保荐人（主承销商）为华英证券有限责任公 司（以下简称"华英证券"或"保荐人（主承销商）"）。发行人的股票简称为"天键 股份"，股票代码为"301383"。 本次发行采用向参与战略配售的投资者定向配售（以下简称"战略配售"）、 网下向符合条件的网下投资者询价配售（以下简称"网下发行"）和网上向持有深 圳市场非限售 A 股股份和非限售存托凭证市值的社会公众投资者定价发行（以 下简称"网上发行"）相结合的方式进行。 发行人和保荐人（主承销商）协商确定本次发行的发行价格为人民币 46.16 元/股，发行数量为 2,906.0000 万股，全部为新股发行，无老股转让。 本次发行的发行 ...