Core Viewpoint - The company, Taiyong Changzheng, forecasts a significant decline in net profit for the year 2025, with expectations of a decrease of 69.23% to 77.25% compared to the previous year [1] Financial Performance Summary - The projected net profit attributable to shareholders for 2025 is estimated to be between 8.5 million and 11.5 million yuan [1] - The net profit after deducting non-recurring gains and losses is expected to be between 2 million and 2.5 million yuan, reflecting a year-on-year decrease of 88.72% to 90.97% [1] Reasons for Performance Change - The decline in net profit is attributed to two main factors: 1. Rising prices of key raw materials, copper and silver, which have outpaced product price increases, negatively impacting gross profit margins [1] 2. The company plans to make impairment provisions for related assets based on prudence, which will adversely affect overall net profit for the reporting period [1] Impact of Non-Recurring Gains and Losses - The net profit for 2025 is expected to be significantly influenced by non-recurring gains and losses, with an estimated impact of approximately 6.5 million to 9 million yuan, primarily from government subsidies and investment income [1]

Group 1: Event Overview - The Moscow Summer International Power Electronics Exhibition will take place from June 8-10, 2026, at the Crocus International Exhibition Center in Moscow, Russia [1] - This exhibition is one of the largest and oldest professional events in Eastern Europe, serving as a platform for industry technology exchange and product display, as well as a barometer for the development of the power market in Russia and surrounding regions [1] Group 2: Market Context - Russia has a vast territory with significant infrastructure needs, continuously advancing nationwide grid modernization, energy upgrades, and construction projects, particularly in hydropower, thermal power, transmission and distribution, and renewable energy sectors [1] - The exhibition provides an effective platform for international companies to understand local market demands, establish industry connections, and showcase advanced technologies and products [1] Group 3: Energy Structure and Trends - According to the Federal State Statistics Service of Russia, the total electricity generation in the first four months of 2025 was 423 billion kilowatt-hours, a 2% year-on-year decrease, with an annual total generation of 1,166 terawatt-hours, down 1.2% from the previous year [3] - The energy structure for 2025 shows that thermal power (coal and gas) accounts for 57.5%, nuclear power for 19%, hydropower for 17%, and renewable energy (wind and solar) for less than 1% [6] Group 4: Investment and Modernization Plans - Russia has initiated an ambitious modernization plan to address aging power equipment, with 60%-80% of grid equipment reported as outdated, and aims to invest 2.4 trillion rubles under the "2035 Energy Strategy" [4] - The modernization plan is expected to generate an annual import demand for power equipment exceeding 8 billion USD [7] Group 5: Strategic Opportunities - The combination of confirmed grid upgrade investments, a clear energy transition path, and stable Sino-Russian economic relations creates an attractive market outlook for the 2026 Moscow Power Electronics Exhibition [9] - For companies aiming to expand into the Eurasian market, this exhibition represents a strategic opportunity to enter a large and continuously growing market [9]