Core Viewpoint - The company reported a decline in revenue and net profit for the first half of 2025, primarily due to reduced export orders and intense market competition in its core business areas [4][5]. Group 1: Financial Performance - The company achieved operating revenue of RMB 1,042.65 million, a year-on-year decrease [4]. - The total profit for the period was RMB -6.77 million, and the net profit attributable to shareholders was RMB -45.58 million, indicating a significant decline [4]. - The decrease in revenue was attributed to reduced export orders, fewer completed projects in the industrial internet and smart manufacturing sectors, and intense competition in the power and communication sectors [5][6]. Group 2: Shareholder Information - As of the reporting period, Hong Kong Central Clearing Limited held 243,023,035 shares, accounting for 26.59% of the total issued share capital [2]. - Barclays Bank PLC held 14,537,374 shares, representing approximately 1.59% of the total issued share capital [2]. Group 3: Investment and Subsidiaries - The company confirmed an investment income of RMB 48.38 million from its joint venture, LG Panda, which reported a revenue of RMB 3,577.62 million, a year-on-year increase of 2.71% [8]. - The company is in the process of publicly transferring 27% of its stake in the joint venture, Nanjing Ericsson Panda Communication Co., Ltd., with a minimum transfer price set at RMB 51.65 million [11][12]. Group 4: Management Discussion - The company emphasized its commitment to quality improvement and risk management while navigating through a challenging macroeconomic environment [3][4]. - The management plans to focus on restructuring, innovation, and team building to achieve its annual targets [3].