Core Viewpoint - The announcement highlights the fair value changes of trading financial assets for Fangda Special Steel Technology Co., Ltd. in the third quarter of 2025, primarily driven by the performance of Sunshine Insurance's H-shares, which significantly impacted the company's net profit [4][5]. Group 1: Overview of Trading Financial Assets - Fangda Special Steel decided to use up to 430 million RMB of idle funds for entrusted wealth management with CITIC Trust, focusing on investing in Sunshine Insurance's H-shares [2][3]. - The trust project, established under the contract signed with CITIC Trust, allocated 4.3 billion RMB, with 1% reserved for trust operation funds, while the remaining funds were used to purchase 78.72 million shares of Sunshine Insurance at a price of 5.83 HKD per share [3]. Group 2: Fair Value Changes in Q3 2025 - In Q3 2025, the price of Sunshine Insurance's H-shares increased from 3.25 HKD per share on June 30, 2025, to 3.84 HKD per share on September 30, 2025, leading to a net value change of the trust product [4]. - The estimated fair value change loss for trading financial assets in Q3 2025 was approximately 64.19 million RMB, accounting for 25.90% of the net profit attributable to shareholders for 2024, indicating a significant impact on the company's financial performance [4]. Group 3: Additional Notes - The company acknowledges the uncertainty of future returns from securities investments and entrusted wealth management products due to market volatility, and will reassess the fair value periodically [5]. - The fair value changes will be recorded as non-recurring gains and losses, not affecting the net profit attributable to shareholders after excluding non-recurring items [5].