Summary of Key Points Core Viewpoint - The semi-annual report of Chengzhi Co., Ltd. for 2025 indicates a decline in net profit and earnings per share, despite a slight increase in revenue, highlighting potential challenges in profitability and cash flow management [1][2]. Financial Performance - Operating revenue for the reporting period reached CNY 5,981,153,653.15, representing a 5.65% increase compared to CNY 5,661,033,482.53 in the same period last year [1]. - Net profit attributable to shareholders decreased significantly by 89.78% to CNY 19,125,593.11 from CNY 187,128,744.26 [1]. - The net profit after deducting non-recurring gains and losses also fell by 82.51%, amounting to CNY 29,692,435.44 compared to CNY 169,800,196.08 in the previous year [1]. - The net cash flow from operating activities decreased by 30.20% to CNY 636,940,730.41 from CNY 912,562,115.32 [1]. - Basic and diluted earnings per share dropped by 89.81% to CNY 0.0157 from CNY 0.1540 [1]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 27,012,908,936.14, a slight decrease of 0.25% from CNY 27,079,520,115.12 [2]. - Net assets attributable to shareholders decreased by 0.26% to CNY 17,785,579,169.82 from CNY 17,832,498,223.89 [2]. - The asset-liability ratio was reported at 30.86%, slightly up from 30.82% in the previous year [4]. Shareholder Information - The largest shareholder, Chengzhi Kerun Holdings Co., Ltd., holds 30.83% of the shares, followed by Tianfu Qingyuan Holdings Co., Ltd. with 15.77% [2]. - The report indicates no changes in the controlling shareholder or actual controller during the reporting period [4]. Project Developments - Chengzhi Co. plans to invest CNY 350 million in a multifunctional workshop and raw material pharmaceutical workshop project in Yingtan, Jiangxi [5]. - The company is also advancing a high-performance liquid crystal material industry upgrade project, which has entered the construction phase [6].

Core Viewpoint - The company emphasizes the accuracy and completeness of its financial disclosures and reports, ensuring no misleading statements or significant omissions are present [2][12]. Financial Data Summary - The first quarter report has not been audited [3][11]. - The company does not require retrospective adjustments or restatements of previous accounting data [3]. - There are no non-recurring profit and loss items applicable for the reporting period [3]. - The company has reported changes in major accounting data and financial indicators, but specific details are not provided in the documents [4][5]. Shareholder Information - The total number of common shareholders and the situation of the top ten shareholders are not disclosed in detail [5]. - There are no changes in the top ten shareholders due to securities lending activities [5]. Other Important Matters - The company is in the process of establishing a health insurance company with a planned registered capital of 1 billion yuan, but the project has not progressed as of the reporting date [6]. - The company is advancing its investment in POE and ultra-high molecular weight polyethylene projects, with construction ongoing [6]. - The company is preparing for the IPO of its subsidiary, Chengzhi Yonghua Technology Co., Ltd., with due diligence work in progress [6]. - A new project for a multifunctional workshop and raw material drug workshop is being developed with an estimated investment of 350 million yuan [7]. - The company has decided to halt the expansion of liquid crystal materials projects due to market changes and has returned land use rights for these projects [8]. - The company is in discussions regarding debt recovery from a related company, with a total claim of approximately 133.18 million yuan [9]. - An investment adjustment for the high-performance liquid crystal materials industry upgrade project has been approved, increasing the budget from approximately 350 million yuan to about 392.46 million yuan [14].