General Provisions - The company aims to protect the legal rights of shareholders, employees, and creditors, and to regulate its organization and behavior according to relevant laws [1][3] - The company was established as a joint-stock company by the transformation of Shenzhen Jingquan Hua Electronics Co., Ltd. and registered with the Shenzhen Market Supervision Administration [1][2] - The company received approval from the China Securities Regulatory Commission for its initial public offering of 20 million shares on June 9, 2017 [1][3] Company Information - The registered capital of the company is RMB 270,916,968 [2] - The company is located at Jingquan Hua Industrial Park, 325 Guiyue Road, Guanlan Street, Longhua District, Shenzhen, with a postal code of 518110 [2] - The company is a permanent joint-stock company [2] Management and Responsibilities - The board of directors represents the company in executing its affairs, with the chairman serving as the legal representative [2][3] - The legal representative's civil activities conducted on behalf of the company will have legal consequences for the company [2][3] - Shareholders are liable for the company's debts only to the extent of their subscribed shares, while the company is liable for its debts with its entire assets [2][3] Business Objectives and Scope - The company's business objective is to maximize returns for shareholders and support national economic development while adhering to laws and regulations [3][4] - The business scope includes the research and sales of power supply products, electronic components, transformers, photovoltaic inverters, and electric vehicle charging equipment, among others [4] Share Issuance - The company's shares are issued in the form of stocks, with each share having a par value of RMB 1 [5][6] - The total number of shares issued by the company is 270,916,968, all of which are ordinary shares [5][6] - The company must not provide financial assistance for others to acquire its shares, except for employee stock ownership plans [5][6] Shareholder Rights and Responsibilities - Shareholders have the right to receive dividends, request meetings, supervise the company's operations, and transfer their shares [11][12] - Shareholders must comply with laws and the company's articles of association, and they cannot withdraw their capital except as permitted by law [16][40] - Shareholders abusing their rights to harm the company or other shareholders will be liable for damages [16]

Core Viewpoint - The establishment of multiple subsidiaries by China Resource Recycling Group aims to enhance the country's resource recycling capabilities and ensure resource security, focusing on key sectors such as battery recycling, new energy devices, non-ferrous metals, and plastic recycling [1][5][6]. Group 1: Company Developments - Recently, China Resource Recycling Group has established nine subsidiaries, with registered capital ranging from 300 million to 1 billion RMB, focusing on various sectors including battery, vehicle, and electronic recycling [4][5]. - The group has signed strategic cooperation agreements with eight entities, including China Industrial and Commercial Bank and State Power Investment Corporation, to enhance its operational capabilities [4][5]. Group 2: Industry Growth - The recycling industry in China is rapidly expanding, with the output value expected to reach 5 trillion RMB by 2025, as outlined in the "14th Five-Year Plan for Circular Economy Development" [2][8]. - In 2020, China's resource output rate improved by approximately 26% compared to 2015, with significant recycling volumes reported for steel, paper, and non-ferrous metals [8]. Group 3: Strategic Goals - China Resource Recycling Group aims to create leading enterprises in various recycling sectors, establishing a strategic material recycling and reserve system to ensure resource security [6][8]. - The group is committed to innovation in technology, management, and business models, focusing on high-end, intelligent, and green development in the recycling industry [5][9].