Overview of the Merger - The company has approved a merger between its wholly-owned subsidiaries, Chongqing Jinxin Frequency Control Electronics Co., Ltd. and Chongqing Taiqing Electronics Co., Ltd., to optimize resource allocation, reduce operational costs, and improve management efficiency [1][2][3] - After the merger, Chongqing Jinxin will continue to operate, while Chongqing Taiqing will be legally dissolved, with all debts and assets transferred to Chongqing Jinxin [1][3] Details of the Merging Entities - **Chongqing Jinxin Frequency Control Electronics Co., Ltd.**: Established on March 26, 2020, with a registered capital of 100 million yuan, it specializes in manufacturing electronic components and medical masks [1][2] - **Chongqing Taiqing Electronics Co., Ltd.**: Established on May 28, 2018, with a registered capital of 20 million yuan, it focuses on the research, production, and sales of quartz crystal frequency components. As of December 31, 2024, it reported total assets and a net loss of approximately 8 million yuan [2][3] Impact of the Merger - The merger is expected to enhance resource allocation, lower operational costs, and improve management efficiency, aligning with the company's development strategy [3] - The merger will not have a substantial impact on the company's normal operations and does not constitute a related party transaction or a major asset restructuring, ensuring the protection of all shareholders' interests, especially minority shareholders [3]

Core Points - The company is preparing for its annual shareholder meeting scheduled for May 20, 2025, focusing on maintaining shareholder rights and ensuring meeting efficiency [2][5]. - The company reported a decrease in net profit for 2024, with a net profit of 87.58 million yuan, down 13.55% year-on-year, and a non-recurring net profit of 62.02 million yuan, down 24.26% [9][32]. - The company aims to enhance its competitive edge by focusing on high-value products and expanding into new markets, particularly in automotive electronics and high-frequency components [10][11]. Meeting Preparation - All attendees must arrive 10 minutes before the meeting for registration and must present necessary identification [2][4]. - The meeting will include a report on attendance and the voting process will be conducted through a named ballot system [3][5]. - The company will utilize a reminder service to ensure that small and medium investors can participate in the voting process [3][4]. Financial Performance - The total revenue for 2024 was 821.04 million yuan, an increase of 3.55% compared to 2023 [32]. - The company’s total assets reached 2.15 billion yuan, reflecting a growth of 5.34% year-on-year [32]. - The company’s operating cash flow decreased significantly by 59.85%, indicating potential liquidity challenges [32]. Strategic Focus - The company is committed to enhancing its research and development efforts, with R&D expenses reaching 48.68 million yuan, a year-on-year increase [10][12]. - The company is expanding its product offerings in the automotive sector, having developed over 2,000 product models that meet industry standards [11][12]. - The company is implementing a comprehensive quality management system to improve production efficiency and product reliability [12][31]. Governance and Compliance - The board of directors has been restructured, with a focus on compliance with legal and regulatory requirements [13][24]. - The company emphasizes the importance of independent directors in ensuring fair governance and decision-making processes [21][25]. - The company has established a robust internal control system to monitor financial and operational activities [31].