Group 1: Research Basic Information - The research object is Oulai New Materials, and the reception time is September 15, 2025. The listed company's reception personnel include the chairman and general manager Wen Hongfu, the director, deputy general manager, and board secretary Wen Ya, the deputy general manager and financial controller Mao Chunhai, and the independent director Wei Jianguo [17] Group 2: Detailed Research Institutions - The types of reception objects are institutional relevant personnel, and the specific reception objects are online investors who participated in the Q&A [20] Group 3: Main Content Business and Performance in the First Half of 2025 - The company achieved an operating income of 217.4428 million yuan, a year - on - year increase of 1.23%. The net profit attributable to shareholders of the listed company was - 6.9588 million yuan, a year - on - year decrease of 144.65%. The net profit attributable to shareholders of the listed company after deducting non - recurring gains and losses was - 10.9229 million yuan, a year - on - year decrease of 184.22%. As of June 30, 2025, the company's total assets were 1.2468043 billion yuan, and the net assets attributable to shareholders of the listed company were 839.4837 million yuan [24] Reasons for System Revision - According to relevant laws, regulations, and regulatory documents, the company will no longer set up a board of supervisors and supervisors. The functions and powers of the board of supervisors will be exercised by the audit committee of the board of directors. To improve the company's governance level and promote standardized operation, the company has revised and formulated the "Articles of Association" and some governance systems [25] R & D Achievements - In the first half of 2025, representative R & D achievements include: G8.5 barrier layer target materials have passed customer batch - testing verification and are in mass supply; the process of aluminum - based electrode thin - film alloy target materials has been optimized, passed the client's mass - production testing verification, and obtained an authorized invention patent; G8.5 molybdenum - based alloy target materials are in mass supply after passing well - known customer batch testing; the OMHT high - efficiency target is undergoing mass - production verification by the customer, and the ICO/IWO particle target has entered the customer testing verification stage. The company also participated in formulating the "Zinc Aluminum Oxide Target" GB/T 45130 - 2025 national standard, which was approved and released. As of the end of the reporting period, the company had 137 valid authorized patents, including 32 invention patents and 105 utility model patents [26] Future Development Direction - The company adheres to the strategic policy of "relying on the screen and developing in multiple cutting - edge fields". It will increase R & D investment, expand production scale, actively layout upstream and downstream high - purity materials, and expand product application areas. It will accelerate the R & D of new technologies and products for high - performance sputtering targets in semiconductor displays and integrated circuits, and also expand key materials and core components in high - performance metals and cutting - edge technology fields in the upstream and downstream of the industrial chain [26][27]