Core Viewpoint - The company has reported its third-quarter financial results and announced the termination of its subsidiary, Citychamp Allied International Limited, which has not conducted any business since its establishment [15][17][36]. Financial Performance - For the first three quarters of 2025, the company's electromagnetic wire business achieved a production volume of 69,900 tons, a year-on-year increase of 11.66%, and a sales volume of 68,600 tons, up 9.94%. The main business revenue reached 5.265 billion yuan, growing by 14.76% [7][8]. - The real estate-related business saw a contract sales area of 17,600 square meters, a decline of 54.05%, with a contract sales amount of 23.7 million yuan, down 46.86%. However, the settlement area increased by 26.69% to 41,300 square meters, with main business revenue of 2.821 billion yuan, up 107.58% [8]. - The electrolyte additive business reported a production volume of 255.44 tons, a year-on-year increase of 42.03%, and a sales volume of 274.38 tons, up 36.01%. However, the main business revenue decreased by 10.80% to 22.3761 million yuan [9]. Corporate Actions - The company plans to transfer its real estate development-related assets and liabilities to its controlling shareholder or an associated company, with the board approving the termination of a major asset restructuring process [10]. - The company signed a framework agreement to acquire 55% of Xian Deng Gao Ke Electric Co., Ltd., but has not yet signed a formal share transfer agreement [10]. - The first employee stock ownership plan has been fully sold, and the plan will terminate on July 27, 2025 [11]. - The company received a compensation fee of 1.4 billion yuan for the handover of a land parcel in Haidian District, Beijing [12]. Related Party Transactions - The company agreed to terminate the existence of its subsidiary, Citychamp Allied International, due to its lack of business activity since establishment. This decision is aimed at reducing management costs and associated transactions [17][18]. - The termination does not constitute a major asset restructuring as defined by regulations, and the related transactions have not exceeded 5% of the company's latest audited net assets [19][28].