Core Viewpoint - The announcement reveals that the chairman and a major shareholder of Xianying Technology plan to reduce their holdings in the company due to personal funding needs, with a total potential reduction of up to 2,917,080 shares, representing 3% of the total share capital [1] Group 1: Shareholding and Reduction Plans - Chairman Xiao Jie holds 13,231,800 shares, accounting for 13.61% of the total share capital, while Nanjing Qiying holds 10,800,000 shares, representing 11.11% [2] - The planned reduction includes a maximum of 972,360 shares through centralized bidding and 1,944,720 shares through block trading, with adjustments based on any changes in the total share capital during the reduction period [1] Group 2: Financial Performance - Xianying Technology reported revenues of 687 million yuan, 682 million yuan, and 873 million yuan for the years 2022 to 2024, with net profits of 72.9 million yuan, 20.7 million yuan, and 8.1 million yuan respectively [2] - In Q1 2025, the company achieved revenues of 167 million yuan, a year-on-year decrease of 3.40%, while net profit increased significantly by 689.47% to 4.97 million yuan [2] Group 3: Company Background - Xianying Technology was listed on the Shenzhen Stock Exchange's Growth Enterprise Market on September 22, 2021, with an initial public offering of 13.51 million shares at a price of 47.58 yuan per share [3] - The total funds raised from the IPO amounted to 643 million yuan, with a net amount of 583 million yuan after deducting issuance costs, exceeding the original plan by 232 million yuan [4]

Core Viewpoint - Company X has decided to terminate the issuance of convertible bonds to unspecified objects and withdraw the application documents due to changes in the external macro environment and its overall development plan [1][2]. Group 1: Termination of Bond Issuance - Company X held meetings on June 5, 2025, where it approved the termination of the issuance of convertible bonds and the withdrawal of related application documents [1]. - The decision was made after thorough communication with relevant parties, considering various factors including the current internal and external environment [2]. Group 2: Financial Implications - The planned fundraising amount from the convertible bond issuance was up to RMB 27 million, which was intended for projects including the construction of a production base in Vietnam, a research and development center, and to supplement working capital [2][4]. - The initial plan disclosed on February 27, 2023, indicated a higher fundraising target of up to RMB 42 million, showing a reduction in the expected amount [4]. Group 3: Company Performance - Company X reported that its business operations are normal and its financial condition is good, indicating that the termination of the bond issuance will not significantly impact its operations or harm the interests of shareholders, especially minority shareholders [2]. - In the first quarter of 2025, Company X's total revenue was RMB 167 million, a year-on-year decrease of 3.4%, while net profit attributable to shareholders increased by 689.47% to RMB 4.97 million [7].

Financial Performance Summary - In 2024, the total revenue of Xiangying Technology reached 873 million yuan, representing a year-on-year increase of 27.95% [1][2] - The net profit attributable to shareholders decreased to 8.06 million yuan, down 61.06% compared to the previous year [1][2] - The net profit after deducting non-recurring gains and losses was 2.10 million yuan, a decline of 88.21% year-on-year [1][2] - The net cash flow from operating activities was 27.53 million yuan, showing a slight increase of 4.02% [1][2] Quarterly Performance Overview - In Q1 2025, the total revenue was 16.66 million yuan, a decrease of 3.40% year-on-year [3] - The net profit attributable to shareholders surged to 4.97 million yuan, an increase of 689.47% compared to the same period last year [3] - The net profit after deducting non-recurring gains and losses was 500.51 thousand yuan, recovering from a loss of 2.38 million yuan in the previous year [3] - The net cash flow from operating activities reached 11.49 million yuan, up 41.98% year-on-year [3] Asset and Equity Status - As of the end of 2024, total assets amounted to 1.36 billion yuan, an increase of 10.11% from the previous year [2] - The net assets attributable to shareholders were 843.64 million yuan, a slight decrease of 1.01% [2] - By the end of Q1 2025, total assets decreased to 1.16 billion yuan, down 14.35% from the end of 2024 [3] IPO and Fundraising Information - Xiangying Technology raised a total of 643 million yuan during its IPO, with a net amount of 583 million yuan after deducting issuance costs [4] - The company initially planned to raise 350 million yuan, but the final net amount exceeded the original plan by 232 million yuan [4] - The funds raised are intended for expansion projects and working capital [4] Convertible Bond Issuance - On September 10, 2024, Xiangying Technology announced plans to issue convertible bonds with a total amount not exceeding 270 million yuan [5] - The proceeds from the bond issuance will be allocated to the construction of a production base in Vietnam, a research and development center, and to supplement working capital [5]