Core Viewpoint - Jinshi Technology is further divesting non-new energy related subsidiaries to optimize resource allocation and reduce financial burdens, aligning with its strategic development plan [1][3]. Company Overview - Jinshi Technology, originally engaged in cigarette label printing, has transitioned to focus on new energy and new materials, particularly in supercapacitors and energy storage [3][5]. - The company was established in 2008 and has been restructuring its business model for over a year, entering the energy storage sector in March 2024 [4][5]. Recent Developments - On August 3, 2024, Jinshi Technology announced plans to transfer 100% equity of its wholly-owned subsidiary, Hunan Jinshi Technology, to optimize asset management [1]. - This follows the recent cancellation of another subsidiary, Jiangxi Jinshi Hengding Metal Co., Ltd., indicating a trend of divestment [1]. Financial Performance - Hunan Jinshi has reported no revenue for the first quarter of 2024 and a loss of approximately 14.58 million yuan in 2024 and 4.30 million yuan in Q1 2025 [4][5]. - Jinshi Technology has faced continuous losses over the past three years, with net profits of -36.59 million yuan in 2022, -44.57 million yuan in 2023, and -4.40 million yuan in 2024 [5]. - Despite entering the energy storage market, the company achieved a revenue of 376 million yuan in 2024, a significant increase of 1008.39% year-on-year, primarily concentrated in the fourth quarter [5]. Strategic Focus - The company aims to enhance its economic efficiency and service core clients through the establishment of subsidiaries like Hunan Jinshi, although the performance has not met expectations [4]. - Jinshi Technology's current revenue composition includes 68.7% from energy storage devices and 30.24% from lithium-ion battery thermal runaway detection and prevention systems [5].