Core Points - The Shenzhen Stock Exchange Listing Review Committee is scheduled to hold its 25th meeting on October 30, 2025, to review the issuance of convertible bonds by Shuangle Pigment Co., Ltd. to unspecified investors [1]

Core Insights - The company reported a revenue of 361,778,515.04 yuan for the third quarter of 2025, representing a year-on-year increase of 3.23% [2] - The net profit attributable to shareholders of the listed company was 4,699,096.88 yuan, showing a significant year-on-year decline of 84.48% [2] Financial Performance - Revenue for Q3 2025: 361.78 million yuan, up 3.23% year-on-year [2] - Net profit for Q3 2025: 4.70 million yuan, down 84.48% year-on-year [2]

Group 1 - The core viewpoint of the article is that Shuangle Co., Ltd. (301036.SZ) reported a decline in both revenue and net profit for the first three quarters of the year [1] Group 2 - The company's operating income for the first three quarters was 1.1 billion yuan, representing a year-on-year decrease of 4.94% [1] - The net profit attributable to shareholders of the listed company was 49.46 million yuan, down 49.03% year-on-year [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was 47.798 million yuan, a year-on-year decline of 46.95% [1]

Core Insights - The company reported a third-quarter revenue of 362 million yuan, representing a year-on-year increase of 3.23% [1] - The net profit attributable to shareholders for the third quarter was 4.6991 million yuan, showing a significant decline of 84.48% year-on-year [1] - For the first three quarters, the company achieved a revenue of 1.11 billion yuan, which is a year-on-year decrease of 4.94% [1] - The net profit attributable to shareholders for the first three quarters was 49.4625 million yuan, reflecting a year-on-year decline of 49.03% [1]

Core Viewpoint - Kuncai Technology reported a net profit of 49.41 million yuan for the first half of 2025, reflecting a year-on-year growth of 11.93% and an operating revenue of 572.41 million yuan, up 7.61% year-on-year [1] Group 1: Financial Performance - The company achieved an operating revenue of 572.41 million yuan, representing a year-on-year increase of 7.61% [1] - The net profit for the first half of 2025 was 49.41 million yuan, which is an increase of 11.93% compared to the same period last year [1] Group 2: Business Segments - Sales revenue from titanium dioxide, iron oxide, and pearlescent materials all experienced growth during the reporting period [1] - The company has become a key player in promoting stable growth in the pearlescent materials industry, establishing itself as a long-term and stable partner in the market [1] Group 3: Strategic Initiatives - The company is actively implementing a dual-wheel strategy focusing on "pearlescent materials + chlorinated titanium dioxide" [1] - The high-end applications of pearlescent materials are experiencing rapid growth, driven by expanding downstream application fields such as low-altitude economy, humanoid robots, and 3D printing materials [1] Group 4: Market Trends - The increase in domestic production rates for automotive coatings and the high-endization of cosmetics, along with the rising penetration of pearlescent paints in new energy vehicles, are expected to drive demand growth for automotive-grade and cosmetic-grade products [1] - The company's chlorinated titanium dioxide business has entered large-scale production, leveraging its "technological leadership + cost advantage" to establish long-term stable supply relationships with several quality customers and core channel distributors [1]

Core Viewpoint - Shuangle Co., Ltd. reported a decline in both revenue and net profit for the first half of 2025, indicating potential challenges in its financial performance [2] Financial Performance - The company's revenue for the first half of 2025 was approximately 748 million yuan, representing a year-on-year decrease of 8.44% [2] - The net profit attributable to shareholders was around 44.76 million yuan, down 32.95% compared to the previous year [2] - Basic earnings per share were reported at 0.45 yuan, reflecting a decrease of 32.84% year-on-year [2]

Group 1 - The article discusses non-operating fund occupation and related financial transactions involving listed companies and their controlling shareholders or actual controllers [1] - It highlights the amounts involved in non-operating fund occupation, including the cumulative amount and the remaining balance at the end of the reporting period [1] - The report includes details on the nature of the occupation, the accounting subjects involved, and the relationships with related parties [1] Group 2 - The article also covers the inter-company financial transactions, specifying the amounts related to operating and non-operating transactions [1] - It provides a breakdown of accounts receivable and the total amounts involved in these transactions [1] - The report emphasizes the importance of transparency in financial dealings between listed companies and their related parties [1]

Core Points - The document outlines the rules and regulations governing the board of directors of Shuangle Pigment Co., Ltd, emphasizing the importance of proper governance and the responsibilities of the board [1][15] - The board consists of 9 directors, including one employee representative and independent directors, with specific powers and responsibilities defined [2][3] - The board is responsible for major decisions such as operational plans, profit distribution, capital changes, and significant acquisitions [2][3] Group 1 - The board must establish strict review and decision-making procedures for external investments, asset sales, and other significant transactions [2] - Major investment projects require expert evaluation and shareholder approval [2][3] - The board's specific review authority includes financial assistance and guarantees, which must be disclosed promptly [2][3] Group 2 - The board must hold at least two meetings annually, with the chairman responsible for convening and notifying all directors [4][5] - Shareholders and directors can propose temporary meetings, which must be convened within ten days of the proposal [4][5] - Meeting notifications must include detailed information about the proposals and the meeting logistics [5][6] Group 3 - A quorum for board meetings requires the presence of more than half of the directors, and decisions must be approved by a majority [12][26] - Directors must attend meetings in person or delegate their voting rights appropriately, with specific rules for related party transactions [8][12] - Meeting records must be maintained, detailing attendance, discussions, and voting outcomes [29][30] Group 4 - The board is responsible for ensuring the implementation of its resolutions and must report on the execution status in subsequent meetings [14][34] - The rules are subject to legal and regulatory compliance, and any conflicts with existing laws will defer to those laws [38][39] - The rules will take effect upon approval by the company's shareholders [40]

General Principles - The company and its controlling shareholders must comply with laws, regulations, and the company's articles of association, exercising shareholder rights without harming the interests of the company and other shareholders [2][3] - Controlling shareholders and actual controllers have a duty of honesty and must not abuse their control to seek illegal benefits [3][4] Responsibilities of Controlling Shareholders - Controlling shareholders must sign a declaration committing to comply with relevant laws and regulations, including disclosing their shareholding status and any legal violations [4][5] - They are required to ensure the company adheres to legal and regulatory standards, including the company's articles of association, and must not misuse their control to harm the company or other shareholders [5][6] Financial Independence - Controlling shareholders must maintain the financial independence of the company, avoiding any form of fund occupation or illegal guarantees [6][7] - They are prohibited from using company funds for personal expenses or requiring the company to provide guarantees unlawfully [7][8] Governance and Independence - The company must ensure its operational independence, and controlling shareholders should not interfere with personnel decisions or financial management [8][9] - Controlling shareholders must support the company's independent decision-making processes and not engage in actions that could harm the company's interests [9][10] Information Disclosure - The company and its controlling shareholders must adhere to strict information disclosure requirements, ensuring that all disclosed information is accurate and complete [12][13] - They must notify the company of any significant changes in their shareholding status or any legal issues that could impact the company [13][14] Share Transfer and Control Stability - Controlling shareholders must maintain control stability and ensure that any transfer of shares does not adversely affect the company or other shareholders [18][19] - They are required to conduct due diligence on potential buyers to ensure fair and reasonable transactions [19]

Group 1 - The company has established rules for online voting at shareholder meetings to protect investors' rights [2][3] - The online voting system is provided by the Shenzhen Stock Exchange and includes both trading and internet voting systems [2][5] - All shareholders registered on the equity registration date have the right to vote through the online voting system [3][5] Group 2 - The company must clearly outline voting codes, voting abbreviations, voting times, and proposal types in the shareholder meeting notice [5][6] - The online voting period starts at 9:15 AM on the day of the shareholder meeting and ends at 3:00 PM on the same day [6][7] - Shareholders must authenticate their identity to vote through the internet voting system [7][8] Group 3 - Shareholders can vote through their respective accounts based on the type of shares they hold (A shares, B shares, or preferred shares) [8][9] - Multiple votes by the same shareholder through different accounts will be counted as one, with the first valid vote being considered [8][10] - The company must ensure compliance and accuracy in the voting data and disclose the results after the meeting [12][12]