Financial Performance - In the first half of 2025, the company achieved total revenue of CNY 12.327 billion, a year-on-year decrease of 3.65% [3] - Net profit attributable to shareholders was CNY -312 million, a decline of 132.02% year-on-year [3] - The net profit after deducting non-recurring gains and losses was CNY -165 million, down 126.51% year-on-year [3] Business Segment Performance Pantum Electronics - Pantum's revenue for the first half of 2025 was CNY 2.309 billion, a year-on-year increase of 10% [3] - Net profit was CNY 324 million, a decrease of 16% year-on-year [3] - Overall printer sales decreased by 5%, while A3 copier sales increased by 115% [3] - In Q2 2025, Pantum's revenue was CNY 1.316 billion, a quarter-on-quarter increase of 33% [3] - Q2 net profit was CNY 227 million, a quarter-on-quarter increase of 136% [3] - Printer sales in the信创 (Xinchuang) market grew significantly, with a year-on-year increase of 65% and a quarter-on-quarter increase of 130% [3] Extreme Sea Microelectronics - Revenue for the first half of 2025 was CNY 556 million, a year-on-year decrease of 18% [4] - Net profit was CNY 18 million, down 94% year-on-year [4] - Total chip shipments reached 293 million units, a year-on-year increase of 16% [4] - In Q2 2025, revenue was CNY 302 million, a quarter-on-quarter increase of 19% [4] - Total chip shipments in Q2 reached 168 million units, a quarter-on-quarter increase of 34% [4] Strategic Developments - Pantum has established strategic cooperation with Huawei's HarmonyOS, becoming the first third-party printer company to obtain certification [3] - The company is actively expanding its presence in the financial, medical, and educational sectors, with significant progress in the financial sector [9] - The company aims to cover over 50% of A3 product demand in the Chinese market, with plans to expand to developing countries [10] Market Trends and Challenges - The company is addressing the challenges posed by the sale of Lexmark and is focused on maintaining stable operations [10] - The domestic chip industry is undergoing a significant transformation, with Extreme Sea aiming to be a leading player among thousands of integrated circuit design companies [10]

Overview of the Transaction - The company plans to sell 100% equity of its indirect subsidiary, Lexmark International II, LLC, to Xerox Corporation for a cash transaction [3][4] - The transaction involves the joint investment entity Ninestar Holdings Company Limited, which is controlled by the company, PAG Asia Capital, and Shoda Investment [3][5] - The transaction is classified as a major asset restructuring due to the significant proportion of Lexmark's assets and revenue compared to the company's total assets and revenue [7][8] Transaction Details - The estimated transaction price is based on a benchmark amount of $1.5 billion, adjusted for estimated financing liabilities, net working capital, cash on the closing date, and transaction costs [4][10] - The final transaction price will be adjusted post-closing based on the final net working capital, financing liabilities, and other factors, with a maximum adjustment limit of $30 million [11] - The transaction is expected to close on July 1, 2025, subject to the fulfillment of certain conditions [9][10] Financial Analysis - The valuation report by Zhonglian International indicates that the equity value of Lexmark International II, LLC is estimated between $172 million and $198 million, with net adjustments leading to a final estimated value of $99 million to $125 million after accounting for various expenses [7] - The financial metrics of Lexmark International II, LLC show total assets of approximately ¥1,958.41 million and revenue of ¥1,596.13 million, which represent 52.43% and 60.43% of the company's respective totals [7] Regulatory and Approval Process - The transaction has undergone necessary internal approvals from the board and shareholders, and external regulatory approvals are in process [9][14] - The transaction does not constitute a related party transaction, and there are no changes in the company's control as a result of this sale [8][9] Company Background - The company, Nasda, is listed on the Shenzhen Stock Exchange with the stock code 002180 and has a registered capital of ¥1,422,989,339 [5][6] - Xerox Corporation, the buyer, is a publicly traded company on the NASDAQ with a focus on document management systems and solutions [6]