SuzhouDongshanPrecisionManufacturingCo.,Ltd.
Semi-AnnualReport2025
August27,2025
SectionIImportantNote,TableofContentsandDefinitions
TheBoardofDirectors,theBoardofSupervisors,directors,supervisorsandseniorexecutivesoftheCompanyherebywarrantthattheinformationcontainedinthisSemi-AnnualReportistrue,accurateandcompletewithoutanymisrepresentation,misleadingstatementormaterialomission,andagreetoassumejointandseveralliabilitiesforthisSemi-AnnualReport.
YUANYonggang,PrincipaloftheCompany,CFOWANGXuandAccountingSupervisorZHUDeguangherebyrepresentthatthefinancialstatementscontainedinthisSemi-AnnualReportaretrue,accurateandcomplete.
AlldirectorsoftheCompanyattendedthemeetingoftheBoardofDirectorsreviewingthisSemi-AnnualReport.
Forward-lookingstatementssuchasthoseonfuturedevelopmentplansinthisReportdonotconstitutesubstantialcommitmentsbytheCompanytotheinvestors.Theinvestorsshouldmakeinvestmentsrationallyandkeepaneyeontheassociatedrisks.
InthisReport,theCompanyhaselaboratedrelevantpotentialriskfactorsandcountermeasures,ascanbereferredtoin“X.RiskExposurestotheCompanyandCountermeasures”under“SectionIIIManagement’sDiscussionandAnalysis”,towhichtheinvestorsshouldpayattention.
TheCompanyhasnoplantopaycashdividends,distributebonussharesorconvertanycapitalreservetothesharecapital.
Note:
ThisdocumentisatranslatedversionoftheChineseSemi-AnnualReport2025(“2025年半年度报告”).Incaseofanydiscrepancies,theSemi-AnnualReport2025publishedintheChineseversionshallprevail.ThefullChineseSemi-AnnualReport2025isavailableatwww.cninfo.com.cn.
TableofContents
SectionIImportantNote,TableofContentsandDefinitions ...... 2
SectionIICompanyProfileandFinancialHighlights ...... 7
SectionIIIManagement’sDiscussionandAnalysis ...... 10
SectionIVCorporateGovernance,Environment,andSociety ...... 26
SectionVSignificantMatters ...... 29
SectionVIChangesinSharesandShareholders ...... 37
SectionVIIBonds ...... 43
SectionVIIIFinancialReport ...... 44
SectionIXOtherReportingData ...... 154
ListofReferencesI.FinancialstatementssignedandchoppedbyMr.YUANYonggang,legalrepresentative,Mr.WANGXu,CFO,andMr.ZHUDeguang,AccountingSupervisoroftheCompany;II.OriginalsofalldocumentsoftheCompanypubliclydisclosedduringthereportingperiodandrelatedannouncements;III.OriginaloftheSemi-AnnualReport2025stampedwiththesealandsignedbythelegalrepresentativeoftheCompany;andIV.Placekeepingsuchdocumentsforinspection:SecuritiesDepartmentoftheCompanyatBuilding12#,YunheTownHeadquartersIndustrialPark,No.99EastTaihuRoad,WuzhongDistrict,Suzhou.
Definitions
| Term | means | Definition |
| Company,weorDSBJ | means | SuzhouDongshanPrecisionManufacturingCo.,Ltd. |
| Electroniccircuit | means | oneofourthreemajorbusinesssegments,includingresearchanddevelopment(R&D),design,manufacturingandsaleofFPCs,rigidPCBs,rigid-flexPCBsandotherproducts. |
| Photoelectricdisplay | means | oneofourthreemajorbusinesssegments,includingR&D,design,manufacturingandsaleofLEDdevices,touchpanels,LCMsandotherproducts. |
| Precisionmanufacturing | means | oneofourthreemajorbusinesssegments,includingdesign,manufacturingandsaleofprecisionmetalstructuralcomponentsandassembliesandotherproducts. |
| YongchuangCommunication | means | SuzhouYongchuangCommunicationTechnologyCo.,Ltd.,awhollyownedsubsidiaryoftheCompany. |
| HongKongDongshan | means | HongKongDongshanPrecisionUnionOptoelectronicCo.,Limited,awhollyownedsubsidiaryoftheCompany. |
| HongKongDongshanHolding | means | HongKongDongshanHoldingLimited,awhollyownedsubsidiaryoftheCompany. |
| DragonHoldings | means | DragonElectronixHoldingsInc.,awhollyownedsubsidiaryofHongKongDongshan. |
| MFLEX | means | Multi-FinelineElectronix,Inc.,awhollyownedsubsidiaryofDragonHoldings. |
| MFLEXSuzhou | means | MFLEXSuzhouCo.,Ltd.,awhollyownedsubsidiaryofMFLEX. |
| MFLEXYancheng | means | MFLEXYanchengCo.,Ltd.,awhollyownedsubsidiaryofMFLEX. |
| MultekGroup | means | MultekGroup(HongKong)Limited,awhollyownedsubsidiaryofHongKongDongshanHolding. |
| MultekIndustries | means | MultekIndustriesLimited,awhollyownedsubsidiaryofMultekGroup. |
| MultekElectronics | means | MultekElectronicsLimited,awhollyownedsubsidiaryofMultekGroup. |
| MultekChina | means | MultekChinaLimited,awhollyownedsubsidiaryofMultekGroup. |
| YanchengDongshan | means | YanchengDongshanPrecisionManufacturingCo.,Ltd.,awhollyownedsubsidiaryoftheCompany. |
| MuttoOptronics | means | MuttoOptronicsTechnologyCo.,Ltd.,awhollyownedsubsidiaryoftheCompany. |
| RFTopElectronic | means | SuzhouRFTopElectronicCommunicationCo.,Ltd.,acontrolledsubsidiaryoftheCompany. |
| SuzhouJDI | means | SuzhouJDIElectronicsInc. |
| Aranda | means | ArandaTooling,Inc.,AutoTechProductionServices,Inc.andAutotechProductiondeMexicoS.deR.L.deC.V. |
| 5G | means | the5thgenerationmobilecommunicationtechnology. |
| AI | means | artificialintelligence,thesimulationofhumanintelligenceusingcomputerprograms. |
| AR | means | augmentedreality,atechnologythatcombinesandintegratesthevirtualworldonscreenwiththerealworld,basedonprecisecalculationofpositionandangleofcameraimagesandimageanalysistechnology. |
| VR | means | virtualreality,acomputer-simulated3Dvirtualworldwithscenesandobjectsthatappeartobereal. |
| IoT | means | InternetofThings,asystemofinterrelatedcomputingdevices,mechanicalanddigitalmachines,thathasauniqueidentifier(UID)andiscapableoftransmittingdataoverthenetwork. |
| PCB | means | printedcircuitboard,afinishedproductwithinsulatedsubstratesandconductorsasmaterials,designedandmadeintoprintedcircuits,printedcomponentsoracombinationofconductivepatternsaccordingtothepre-designedcircuitschematicdiagram. |
| FPC | means | FlexiblePrintedCircuit. |
| LEDorLEDdevice | means | light-emittingdiode,asemiconductordiodethatemitsincoherentlightwhencurrentflowsthroughit,andtherecombinationofelectronsandelectronholesinthesemiconductorproducesradiation,forthepurposeofthisReport,includingLEDparticles,LEDlightbars,LEDbacklightmodules,LEDlightingdevicesandotherLEDproducts. |
| Term | means | Definition |
| MiniLED | means | sub-millimeterlightemittingdiode,anLEDdevicewithagrainsizeof50-200μm. |
| LCM | means | LCDmoduleorLCDdisplaymodule,formedbyassemblingLCDdisplaydevicewiththerelevantconnectors,control,driverandotherperipheralcircuits,PCBcircuitboard,backlightsource,structuralcomponentsandothercomponents. |
| Touchpanel | means | adeviceundertheprotectionoftransparentglassthatdetectstouchesusingsensors,andprocessesandtransmitstherelevantinformation. |
| AOA | means | ArticlesofAssociationofSuzhouDongshanPrecisionManufacturingCo.,Ltd. |
| CSRC | means | ChinaSecuritiesRegulatoryCommission. |
| SZSE | means | ShenzhenStockExchange |
| Reportingperiod | means | FromJanuary1,2025toJune30,2025 |
| RMBandRMB0’000 | means | RenminbiandtenthousandYuanrespectively. |
SectionIICompanyProfileandFinancialHighlights
I.CompanyProfile
| Stockshortname | DSBJ | Stockcode | 002384 |
| Stockexchange | ShenzhenStockExchange | ||
| Chinesename | 苏州东山精密制造股份有限公司 | ||
| Chineseshortname(ifany) | 东山精密 | ||
| Englishname(ifany) | SuzhouDongshanPrecisionManufacturingCo.,Ltd. | ||
| Englishshortname(ifany) | DSBJ | ||
| Legalrepresentative | YUANYonggang | ||
II.ContactPersonandContactInformation
| BoardSecretary | SecuritiesAffairsRepresentative | |
| Name | MAOXiaoyan | ZHOUHao |
| Address | Building12#,YunheTownHeadquartersIndustrialPark,No.99EastTaihuRoad,WuzhongDistrict,Suzhou | Building12#,YunheTownHeadquartersIndustrialPark,No.99EastTaihuRoad,WuzhongDistrict,Suzhou |
| Telephone | 0512-80190019 | 0512-80190019 |
| Facsimile | 0512-80190029 | 0512-80190029 |
| maoxy@dsbj.com | hao.zhou@dsbj.com |
III.OtherInformation
1.ContactinformationoftheCompanyWhetherthereisanychangeintheCompany’sregisteredaddress,officeaddressandcorrespondingpostalcode,website,andemailaddress,etc.duringthereportingperiod?
□Applicable?N/ATherehasbeennochangeinourregisteredaddress,officeaddressandcorrespondingpostalcode,websiteandemailaddress,etc.,asdetailedintheAnnualReport2024.
2.MediaforinformationdisclosureandplaceforkeepingtheReport
Whetherthereisanychangeinthemediaforinformationdisclosureandplaceforkeepingthereportduringthereportingperiod?
□Applicable?N/AThewebsiteofthestockexchangeandthemediaanditswebsitedisclosingoursemi-annualreport,aswellastheplaceforkeepingoursemi-annualreportremainunchanged,asdetailedintheAnnualReport2024.
3.OtherrelatedinformationWhetherthereisanychangeinotherrelatedinformationduringthereportingperiod?
□Applicable?N/A
IV.KeyAccountingDataandFinancialIndicatorsDidtheCompanyneedtoretrospectivelyadjustorrestateanyaccountingdataofprioryears?
□Yes?No
| Thereportingperiod | Thesameperiodofthepreviousyear | Y/Y%change | |
| Operatingrevenue(RMB) | 16,955,163,898.89 | 16,628,586,195.56 | 1.96% |
| NetprofitattributabletoshareholdersoftheListedCompany(RMB) | 758,005,980.61 | 560,600,936.27 | 35.21% |
| NetprofitattributabletoshareholdersoftheListedCompanyafterdeductionofnon-recurringgainorloss(RMB) | 656,799,943.31 | 516,020,496.59 | 27.28% |
| Netcashflowfromoperatingactivities(RMB) | 2,500,118,021.28 | 2,088,969,399.28 | 19.68% |
| Basicearningspershare(RMB/share) | 0.45 | 0.33 | 36.36% |
| Dilutedearningspershare(RMB/share) | 0.45 | 0.33 | 36.36% |
| Weightedaveragereturnonnetassets | 3.95% | 3.05% | 0.90% |
| Theendofthereportingperiod | Theendofthepreviousyear | %Change | |
| Totalassets(RMB) | 47,886,706,779.38 | 46,014,173,064.47 | 4.07% |
| NetassetsattributabletoshareholdersoftheListedCompany(RMB) | 20,869,723,523.97 | 18,826,387,269.38 | 10.85% |
V.DifferencesinAccountingDataundertheChineseAccountingStandardsforBusinessEnterprises(the“CASBEs”)andOverseasAccountingStandards
1.DifferencesinnetprofitandnetassetsdisclosedinthefinancialreportpreparedundertheInternationalFinancialReportingStandards(IFRS)andtheCASBEs
□Applicable?N/ATherewasnodifferenceinnetprofitandnetassetsdisclosedinthefinancialreportforthereportingperiodpreparedundertheIFRSandtheCASBEs.
2.DifferencesinnetprofitandnetassetsdisclosedinthefinancialreportpreparedunderoverseasaccountingstandardsandtheCASBEs
□Applicable?N/ATherewasnodifferenceinnetprofitandnetassetsdisclosedinthefinancialreportforthereportingperiodpreparedunderoverseasaccountingstandardsandtheCASBEs.
VI.ItemsandAmountsofNon-recurringGainsorLosses
?Applicable□N/A
InRMB
| Item | Amount | Remark |
| Gainorlossondisposalofnon-currentassets(includingallowanceforimpairmentofassetsthathavebeenwrittenoff) | -21,866,977.73 | |
| Governmentgrantsrecognizedinprofitorloss(excludingthegovernmentgrantsthatarecloselyrelatedtothebusinessoftheCompany,conformtotheapplicablepolicesofthecountry,areprovided | 135,129,891.48 |
| inaccordancewiththeestablishedstandards,andcontinuouslyaffecttheCompany’sprofitorloss) | |
| Gainorlossonchangesinfairvalueoffinancialassetsandfinancialliabilitiesheldbynon-financialentities,andgainorlossondisposaloffinancialassetsandfinancialliabilities,exceptforeffectivehedgesheldintheordinarycourseofbusiness | 5,592,799.26 |
| Othernon-operatingrevenuesandexpenses | 1,345,108.64 |
| Less:Effectonincometax | 18,885,610.71 |
| Effectonminorityinterests(exclusiveoftax) | 109,173.64 |
| Total | 101,206,037.30 |
Otheritemsofgainorlosswithinthemeaningofnon-recurringgainorloss:
□Applicable?N/AWedonothaveanyotheritemofgainorlosswithinthemeaningofnon-recurringgainsorlosses.Classificationofanyitemofnon-recurringgainorlossdefinedbytheExplanatoryAnnouncementNo.1onInformationDisclosurebyCompaniesPubliclyOfferingSecurities–Non-recurringGainorLossasrecurringgainorloss
□Applicable?N/AWehavenotclassifiedanyitemofnon-recurringgainorlossdefinedbytheExplanatoryAnnouncementNo.1onInformationDisclosurebyCompaniesPubliclyOfferingSecurities–Non-recurringGainorLossasrecurringgainorloss.
SectionIIIManagement’sDiscussionandAnalysisI.SituationsofOurPrimaryBusinessduringtheReportingPeriod
(I)Duringthereportingperiod,ourprimarybusinesshasnotundergoneanymaterialchange.WefocusontheR&Dandmanufacturingoftechnologicallyadvancedcorecomponentsfortheintelligentlyinterconnectedworld,andtheprovisionofcomprehensiveintelligentinterconnectionsolutionstocustomersthroughouttheworld.WeareprimarilyengagedintheR&D,manufacturingandsaleofelectroniccircuits,precisioncomponents,touchpanelmodulesandLEDdisplaydevices,etc.,whicharewidelyusedinconsumerelectronics,newenergyvehicles,communicationequipment,industrialequipment,AI,medicalappliancesandotherfields.
(II)Duringthereportingperiod,ourmainbusinessmodelhasnotundergoneanymaterialchange.Weleverageourcompletebusinesschaintoprovideourcustomerswithcomprehensive,one-stop,industry-leadingservices,continuouslyincreasethedepthofcooperationandadhesionwithourcustomers,andmaintainlong-term,stablecooperationwithpremiumcustomerstakingtheleadintheglobalconsumerelectronics,newenergyvehicleandcommunicationequipmentindustries.
Wemanufacturemainproductsbasedonmarketdemands,andadopttheproductionmodelthatdeterminesproductionaccordingtosales,underwhichwedevelopproductionplansanddeliverproductstakingintoaccountthepurchaseordersplacedbycustomers,theproductquantitiesdemandedbythecustomersundersuchpurchaseorders,aswellasourproductioncapacityandsupplyofrawmaterials.
(1)Ourmainproductsandtheirapplications:
| Product | Type | Productfeatures | Mainapplication |
| Electroniccircuit | Rigidboard | Printedcircuitboardmadeofarigidsubstratethatishardtobendwithcertaintoughness,withtheadvantagesofsupportingtheelectroniccomponentsattachedtoit | Widelyusedinelectronicdevicessuchascomputers,networkequipment,communicationequipment,industrialcontrol,automotive,militaryaviation,etc. |
| Flexibleboard | Printedcircuitboardsmadeofflexiblesubstrates,withtheadvantagesofbeinglight,thin,bendableandsuitableforthree-dimensionalassembly,andoptimalforelectronicproductswithrequirementsforminiaturization,lightweight,andmobility | Widelyused,mainlyinsmartphones,tabletcomputers,wearabledevices,newenergy,etc.atpresent | |
| Rigid-flexibleboard | Alsoknownas“softandhardboard”,meaningthecreationofathree-dimensionalcircuitboardbylaminatingdifferentflexibleboardswithrigidboards,wherethecircuitinterconnectionbetweentherigidprintedcircuitboardandflexibleprintedcircuitboardisimplementedthroughholemetallizationprocess,sothattheflexibleboardportionisbendablewhiletherigidboardportioncansupportheavydevices | Mainlyusedinmedicalequipment,navigationsystems,consumerelectronicsandotherproducts | |
| Precisionmanufacturing | Communicationproducts | WithRFtechnologyandprecisionmanufacturingasthecore,providecustomerswithantennas,filtersandotherproductsrelatedtowirelessbasestations | Mainlyusedinwirelesscommunicationbasestations |
| Automotiveproducts | Processaluminumalloymaterialsintoautomotivepartsorproductswithpreciseshapes,precisedimensionsandhighsurfacequalitythroughdiecasting,stamping,sheetmetal,precisionmachiningandotherprocesses | Mainlyusedinthe“threeelectricsystems”ofnewenergyvehicles | |
| Photoelectricdisplay | Displaymodule | Integratedisplayscreen,driverICandbacklightsystem(partiallyrequired)togethertoconvertelectricalsignalsintovisibleopticalimages | Widelyusedinsmartphones,tabletcomputers,laptopcomputers,automotive,industrialcontrol,medicalfield,smarthomes,etc. |
| Touchpanelmodules |
Anelectroniccomponentcombiningatouchscreenwithadisplayscreen(suchasLCD,OLED,etc.),whichcanrealizethedisplayandtouchinputfunctionsatthesametime
(2)Applicationsofourproductsinnewenergyvehicles:
(3)Oursituationintheindustry:
Inthefieldofelectroniccircuits,accordingtotheresearchdatapublishedbyPrismark,intermsofsalesrevenues,wearerankedsecondinthefieldofFPCandthirdinthefieldofPCBintheworldforseveralconsecutiveyears.WehavestrongtechnologyR&D,qualitycontrol,andsmartfactorymanagementcapabilitiesintheelectroniccircuitindustry,andareabletoprovidecustomerswithhigh-qualityproductsandservices.Ourmajorelectroniccircuitcustomersarewell-knownglobalconsumerelectronicsandnewenergyvehiclemanufacturers,sowehaveagoodcustomerbase,andstrongcompetitivepowers.Inthefieldofprecisioncomponents,weareoneofthelargestspecializedprecisioncomponentsuppliers,providingstructuralcomponentsfornewenergyvehicles,communicationequipmentandotherfields,andmainlyservewell-knownglobalnewenergyvehicleandcommunicationequipmentmanufacturers,sowehavestrongcompetitiveadvantagesintheindustry.InthefieldoftouchpanelmodulesandLEDdisplaydevices,weareoneofthelargesttouchpanelmoduleandLEDdisplaydevicemanufacturersinChina.Westandoutbasedonouroverallstrengthinon-boarddisplaymodulesandmedium-andlarge-sizeconsumerelectronicsdisplaymodules.ThankstoourcontinuouseffortsfortechnologyR&Dandmarketdevelopment,weareconstantlyenhancingouroverallstrengthinthedisplaymodulebusinessasastrongsupporttodrivetheperformancegrowthofthecompany.Intheupstreamsupplychainofnewenergyvehicles,weareoneofthefewvendorsabletoprovidethenewenergyvehiclemanufacturerswithPCBs(includingFPCs),on-boarddisplayscreens,functionalandstructuralcomponents,andotherproductsandintegratedsolutions.Atpresent,wehaveachievedgoodoperatingresultsinournewenergybusinessinaspectsoftheproductstrategy,technologyaccumulation,customerdevelopmentetc.Inthefuture,wewillleverageouradvantagesinthecoverageofmultipleindustrychainsandtheprovisionofintegratedsolutionstofurtherimprovecustomeradhesionandenhancethevalueofsupplychaincollaboration.
HUDs,dashboards,andcentralcontroldisplaysPassenger/rearseatentertainmentdisplays,andmulti-connecteddisplays
Passenger/rearseatentertainmentdisplays,andmulti-connecteddisplaysStreamingelectronicrearviewmirrors,andarmrestdisplays
Streamingelectronicrearviewmirrors,andarmrestdisplaysWhitebodyparts
WhitebodypartsSeatframeworkassemblies
SeatframeworkassembliesAutomotiveelectronics(BMS,MCU,ECU,etc.)
Automotiveelectronics(BMS,MCU,ECU,etc.)RigidPCBsandrigid-flexPCBsforcentralcontrolsystem/GPS
RigidPCBsandrigid-flexPCBsforcentralcontrolsystem/GPSRigidPCBsandrigid-flexPCBsforinformation&entertainmentsystems/InternetofVehicles
RigidPCBsandrigid-flexPCBsforinformation&entertainmentsystems/InternetofVehiclesChargingstationframeworkandcasingassemblies
ChargingstationframeworkandcasingassembliesColdplates(automaticdriveandcentralcontrol)
Coldplates(automaticdriveandcentralcontrol)Heatdissipationmodules
HeatdissipationmodulesElectricdriveandelectroniccontrolcasings(all-in-one)
Electricdriveandelectroniccontrolcasings(all-in-one)Domaincontrolcasings
DomaincontrolcasingsCamerabracketsandassemblies
CamerabracketsandassembliesRigidPCBsandrigid-flexPCBsforcameras
RigidPCBsandrigid-flexPCBsforcamerasCasingsandrigidPCBsforlaserradarsandmillimeterwaveradars
CasingsandrigidPCBsforlaserradarsandmillimeterwaveradarsRigidPCBsforadvanceddrivingassistancesystemandcentralcomputingunit
RigidPCBsforadvanceddrivingassistancesystemandcentralcomputingunitCellcasings
CellcasingsBatterypacktraysandassemblies
BatterypacktraysandassembliesFPCsandCCSforbatterypacks
II.CoreCompetenciesofDSBJ(I)Advantageincustomers:PremiumdomesticandforeigncustomerbaseAfteryearsofhardwork,wehaveattractedtopglobalcustomersintheindustryandaccumulatedhigh-qualitycustomerresources,whichhaveproducedgooddemonstrationeffectsandimprovedourreputation.Thisnotonlyimprovesourabilitytodevelopnewcustomersandfacilitatetheacquisitionofmoresupportfromcustomersincompetitioninthefuture,butalsofacilitatesthein-depthofcollaborativeinnovationbetweenusandexistingleadingcustomersandthedeploymentinemergingfields.Ourrichcustomerbasecoversmultipleindustries,includingconsumerelectronics,newenergyvehiclesandcommunicationequipment,whichcanhelpusresistthequarterlyandcyclicaleffectsofoperationsindifferentindustriesandenhanceourcorecompetitiveness.
(II)Advantageinmanagement:Advancedconcepts,completesystems,andefficientexecutionWeadvocatethecorporatespiritof“openness,inclusion,pragmatismandenterprising”,sticktothemanagementprincipleof“overallplanning,thedelegationofpowersinbusinessoperation,supportbytheplatformandcentralizedsupervision”,givefullplaytotheinitiativeandcreativityofallorganizations,andhavebuiltascientificandefficientmanagementsystem.Thecontinuousimprovementinmanagementandcontrolatthegrouplevelandthegradualestablishmentofaglobaloperatingframeworkprovideasolidfoundationforbusinessexpansionandcross-regiondevelopment.Ourmanagementteamhaspracticalexperienceinthemanagementoftheadvancedmanufacturingindustry,hasawideglobalvision,isabletomakeaccuratestrategicjudgmentsanddecisionsonthetrendsoftheindustryandopportunitiesfordevelopment,andhasstrongcohesionandexecutiveability.Givenourrichexperienceincross-bordermergersandacquisitions,restructuringandintegration,wecansuccessfullyadvocateourcorporatecultureandbusinessmodelstotheacquiredandrestructuredtargetcompanieswiththecoreconceptofChina’smanufacturingindustry,soastoconstantlyenhanceagglomerationeffectsandcomprehensivevalueofresourcesandhelpthetargetcompaniesimproveoperatingperformancerapidly.Byimplementinginstitutionaltransformationundertheconceptofpeopleorientation,wetaketheinitiativetoadapttochangesinenvironment,matchwithbusinessdemands,andaccumulatetalentsforcorporatedevelopment,hencebuildingthecoredrivingforceforfuturedevelopment.
(III)Advantageinproducts:WiderangeofproductsandintegratedindustrychainInrecentyears,bymeansofacquisitionsandinternaldevelopment,wehavebrokendevelopmentbottlenecks,continuouslyadjustedandoptimizedthestrategicfocus,andintroducedsuperiorbusinessestobuildupnewgrowthdrivers.Atpresent,ourproductofferingscoverthreebusinesssegments,namelyelectroniccircuit,photoelectricdisplayandprecisionmanufacturing.Weareabletoprovideconsumerelectronics,newenergycustomers,andotherindustrycustomerswithavarietyofbasicandcorecomponentsforintelligentinterconnection.Inthefieldofelectroniccircuit,wehavegrownintoaleadingcompanyintheindustry.Intermsofthenewenergybusiness,wehaveestablishedouradvantageouspositionintheindustrywithouron-boardFPC,liquidcoolingplate,batteryhousingandotherproducts.Inaddition,wealsoactivelygivefullplaytothesynergyofvariousbusinesssegmentsinR&D,technology,supplychain,productsandmarkets,andintegrateinternalresourcestoactivelyprovidecustomerswithcompetitiveproductsandsolutionsthroughforward-lookingresearchanddevelopmentoftheindustry.
(IV)Advantageintechnologies:Sticktotheprinciplethattechnologicalinnovationcapabilityistheprimaryproductionfactor
Weattachgreatimportancetotechnologicalinnovationinourbusinessdevelopment,anddriveourdevelopmentthroughinnovation.Throughparticipationinthepreliminarydevelopmentprojectsoftheindustry-leadingcustomers,wekeepinstepwiththedevelopmentofcutting-edgingtechnologies,andhavebuiltacompleteR&DsystemandefficientR&Dmechanisms,andaglobalR&Dteamwithoutstandingprofessionallevel,richindustrialexperienceandstronginnovationcapabilities.ThroughcontinuousfundingforR&Dofnewmaterials,newtechnologiesandnewproductionprocesses,wehavevigorouslyexplored
frontierproductiontechnologiesforcorecomponentsinthefieldofintelligentinterconnection,andlaidsolidfoundationsforservingemergingbusinesses,suchasAI,AR/VR,IoT,etc.Whileimprovingproducttechnologies,weattachgreatimportancetotheinnovationandupgradingofproductiontechnologies,andhavegainedcertaineffectsintheintegrateddevelopmentofinformatizationandindustrialization.Bypromotingtheintegrateddevelopmentofindustrializationandinformatization,wehavevigorouslyimplementedintelligentmanufacturingandbuiltsmartfactories.(V)Advantageinscale:PromotedevelopmentinrelianceonadvantageinscaleandincreasebenefitsbasedonsynergisticeffectOurcustomersarewell-knowndomesticandinternationalhi-techcompaniesthathavehighpurchasequantities,strictrequirementsforthedeliveryofproducts,andhighrequirementsforthescaleofproductionandproductionefficiencyofsuppliers.Throughyearsofdevelopmentandaccumulation,wehavegrownintoasupplierofcorecomponentsforintelligentinterconnectionwithrelativelystrongoverallcapabilitiesinChina.Ourlargescaleofproductioncansatisfythepurchasedemandsofmajordownstreamcustomers,creatingabigadvantageinscale.Ontheonehand,ourscaleadvantageishelpfultoreducetheunitproductproductioncoststhankstoourstrongpurchasingbargainingpower;ontheotherhand,wehavegraduallybuiltglobalprocurementcapabilitiessothatwehaveleftcompetitorsbehindbyintegratingglobalresources,whichfurtherconsolidatesandimprovesourpositionintheindustryandenhancesourcorecompetitiveness.
(VI)Advantageininternationalization:Promotetheestablishmentofa“dualcirculation”developmentpatternWecloselyfollowthenationaldevelopmentstrategies,activelytakepartinglobaleconomiccompetitions,andcontinuouslyenhancetheintegrationofhigh-qualityresourcesoftheindustry.Inrecentyears,wehaveestablishedoperatingentitieswithdifferentfunctionsinNorthAmerica,Europe,SoutheastAsiaandothercountriesandregions.Underthemainstrategyof“two-wheeldrive”,wefocusonthetwokeyfieldsofconsumerelectronicsandnewenergyvehicles.Inordertoactivelyrespondtothedemandsofcustomers,wehaveacceleratedtheconstructionofoverseasproductionbases,andhaveachievedproperexpansion.Wecontinuouslyenhanceouroverseastalentforcetofurtherimproveourinternationaloperatingcapabilities,whichfacilitatesanewlayoutofdomesticandinternationaldevelopmentenhancingeachother,soastoactivelyrespondtothecomplexcompetitionenvironment.III.AnalysisofPrimaryBusinessInthefirsthalfof2025,weseizedtheopportunityinthefastdevelopmentoftheelectroniccircuitindustrywhilecontinuouslymaintainingourcompetitiveadvantagesincorepartsofnewenergyvehicles,andactivelypromotednewproductR&Dandcustomerdevelopment.Ourcontinuouseffortsforqualityenhancementandefficiencyimprovementhaveledtostablegrowthinoperatingbenefits.Duringthereportingperiod,wecompletedaprivateplacementtoprovideasolidfundguaranteeforthenewstrategiclayout.ThankstothebreakthroughinAItechnologiessincethelastyear,whichwillresultinadditionalcapitalexpendituresofcloudvendorsincomputingdatacenters,therewillbeanexplosivegrowthinthedemandfordataserversandnewdevelopmentopportunitiesforrelevantindustries.Wemakefulluseofourtechnologiesandcompetenciesinelectroniccircuits,precisionmanufacturing,andotherindustriestoquicklystarttheplanningofnewproductioncapacityforhighmulti-layercircuitboards,andseizethemarketopportunityofAIserversbytakingactivemeasurestoacquireSourcePhotonics,henceenteringtheopticalmodulemarket.Duringthereportingperiod,weachievedthetotaloperatingrevenueofRMB16.955billion,increasedby
1.96%yearonyear;andachievedthenetprofitattributabletoshareholdersofthelistedcompanyofRMB758million,increasedby35.21%yearonyear.OurmainendeavorsfromJanuarytoJune2025areasfollows:
1.Buildingthefoundationwithproductcapabilitieswhileenhancinginnovations
HoldingproductinnovationasthecoredriveroftheCompany,wemaintainedR&Dinvestment,engagedinforward-lookingR&D,andplannedandexpandedintonewindustrieswhileensuringadvancedtechnologiestoconstantlycreatecompetitiveproductsandservices,hencecontinuouslymeetingthedemandsoftheindustriesandcustomers.
2.Enhancingoperatingbenefitsthroughcoordinatedoperation
Wehavebuiltanefficientinternalcoordinationmechanismthroughin-depthprocessmanagementandcontroltoeffectivelyimproveoperatingbenefits.Thestableoperationensuredhealthyfinancialindicatorsandsufficientcashflows.Moreover,wecontinuouslyimprovedourlevelofsmartmanufacturingwithdatagovernanceasthekeyonthebasisofadvancedtechnologiesandatalentpool.
3.Promotinghigh-qualitycorporatedevelopmentthroughorganizationalreformanddevelopment
Weimplementedthemeasuresof“combiningrecruitmentwithpersonalgrowth”andenhancedcontinuousinvestmentincorporatehumanresources.Ontheonehand,weattractedoutstandinggraduatingstudentstobuildatalentpoolthroughthe“EvergreenPlan”;ontheotherhand,wemadeactivemeasurestooptimizetheinternalsystemfortalentdevelopment.Meanwhile,bybuildingapositivecorporatecultureandacompetitiveremunerationsystem,wehavebuiltanenergetic,efficient,andcooperativeteamtopromotethehigh-qualitydevelopmentoftheCompany.
4.Expandingintonewfieldstoachievediversifieddevelopment
Onthebasisofthestableimprovementintheconsumerelectronicsbusiness,wemadeuseofourcapabilitiesandadvantagestoconcentrateinternalandexternalresourcestograduallyexpandintonewfieldsandindustries.Thereportingperiodwitnessedthecontinuousandstablegrowthintheoperatingrevenuefromthenewenergybusiness,whichhasbuiltourreputationintheindustry.Inthefirsthalfofthisyear,westartedoureffortstoacquireGMDfromFranceandSourcePhotonics;thesenewbusinesseswillprovideasolidfoundationforthelong-lastingsustainabledevelopmentoftheCompany.Year-on-yearchangesinkeyfinancialdata
InRMB
| Thereportingperiod | Thesameperiodofthepreviousyear | Y/Y%change | Reasonforchange | |
| Operatingrevenue | 16,955,163,898.89 | 16,628,586,195.56 | 1.96% | |
| Operatingcost | 14,650,499,235.90 | 14,455,695,057.51 | 1.35% | |
| Sellingexpenses | 157,942,605.07 | 198,461,411.65 | -20.42% | |
| Administrativeexpenses | 547,561,939.49 | 513,932,018.38 | 6.54% | |
| Financialexpenses | 29,546,958.47 | -27,540,920.14 | 207.28% | Primarilyduetothehighexchangegainsinthesameperiodofthepreviousyear. |
| Incometaxexpenses | 201,934,636.13 | 124,174,716.66 | 62.62% | Primarilyduetotheincreaseintaxableincomesinthecurrentperiod,andthedecreaseindeferredincometaxassetsduetothereversionoftheinventoryprovisioninthecurrentperiod. |
| Netcashflowsfromoperatingactivities | 2,500,118,021.28 | 2,088,969,399.28 | 19.68% | |
| Netcashflowsfrominvestingactivities | -1,986,314,848.75 | -1,813,918,499.58 | -9.50% | |
| Netcashflowsfromfinancingactivities | 1,523,390,849.48 | 35,241,082.03 | 4222.77% | Primarilyduetothefundraisingthroughprivateplacementofsharesin |
| thecurrentperiod. | ||||
| Netincreaseincashandcashequivalents | 2,072,977,324.38 | 406,867,075.93 | 409.50% | Primarilyduetothefundraisingthroughprivateplacementofsharesinthecurrentperiod. |
WhetherthereisasignificantchangeinthecomponentsorsourcesofprofitsduringthereportingperiodoftheCompany?
□Applicable?N/ATherehavebeennosignificantchangesinthecomponentsorsourcesofprofitsduringthereportingperiodoftheCompany.Componentsofoperatingrevenue
InRMB
| Thereportingperiod | Thesameperiodofthepreviousyear | Y/Y%change | |||
| Amount | %ofoperatingrevenue | Amount | %ofoperatingrevenue | ||
| Totaloperatingrevenue | 16,955,163,898.89 | 100% | 16,628,586,195.56 | 100% | 1.96% |
| Bysegment | |||||
| Computer,communicationandothers | 16,756,004,204.58 | 98.83% | 16,521,772,107.69 | 99.36% | 1.42% |
| Others | 199,159,694.31 | 1.17% | 106,814,087.87 | 0.64% | 86.45% |
| Byproduct | |||||
| Electroniccircuits | 11,059,315,884.89 | 65.23% | 10,850,236,100.11 | 65.25% | 1.93% |
| LEDdisplaydevices | 285,852,926.70 | 1.69% | 437,960,520.69 | 2.63% | -34.73% |
| TouchpanelsandLCMs | 3,048,999,533.55 | 17.98% | 3,122,349,556.40 | 18.78% | -2.35% |
| Precisioncomponents | 2,361,835,859.44 | 13.93% | 2,111,225,930.49 | 12.70% | 11.87% |
| Others | 199,159,694.31 | 1.17% | 106,814,087.87 | 0.64% | 86.45% |
| Byregion | |||||
| Domesticmarket | 3,787,323,865.50 | 22.34% | 3,206,081,274.20 | 19.28% | 18.13% |
| Overseasmarket | 13,167,840,033.39 | 77.66% | 13,422,504,921.36 | 80.72% | -1.90% |
Note:Duringthereportingperiod,theoverallrevenuefromthenewenergybusinesswasapproximatelyRMB4.94billion,ayear-on-yearincreaseofabout29.66%.Segments,products,orregionsrepresentingmorethan10%ofoperatingrevenueorprofit?Applicable□N/A
InRMB
| Operatingrevenue | Operatingcost | Grossmargin | Y/Y%changeinoperatingrevenue | Y/Y%changeinoperatingcost | Y/Y%changeingrossmargin | |
| Bysegment | ||||||
| Computer,communicationandothers | 16,756,004,204.58 | 14,521,655,805.67 | 13.33% | 1.42% | 0.79% | 0.54% |
| Byproduct | ||||||
| Electroniccircuits | 11,059,315,884.89 | 9,118,683,144.38 | 17.55% | 1.93% | 1.75% | 0.14% |
| LEDdisplaydevices | 285,852,926.70 | 339,464,622.72 | -18.75% | -34.73% | -38.92% | 8.14% |
| TouchpanelsandLCMs | 3,048,999,533.55 | 2,896,912,619.69 | 4.99% | -2.35% | -3.40% | 1.03% |
| Precisioncomponents | 2,361,835,859.44 | 2,166,595,418.88 | 8.27% | 11.87% | 14.51% | -2.11% |
| Byregion | ||||||
| Domesticmarket | 3,787,323,865.50 | 3,650,601,159.08 | 3.61% | 18.13% | 18.78% | -0.53% |
| Overseasmarket | 13,167,840,033.39 | 10,999,898,076.82 | 16.46% | -1.90% | -3.36% | 1.26% |
Incaseofanyadjustmenttothestatisticscaleforprimarybusinessdata,theprimarybusinessdataofthemostrecentreportingperiodasadjustedaccordingtothestatisticscaleappliedattheendofthereportingperiod
□Applicable?N/AIV.AnalysisofNon-primaryBusiness
□Applicable?N/AV.AnalysisofAssetsandLiabilities
1.Materialchangesinthecomponentsofassets
InRMB
| Theendofthereportingperiod | Theendofthepreviousyear | Y/Y%change | Reasonofmaterialchanges | |||
| Amount | %oftotalassets | Amount | %oftotalassets | |||
| Cashandbankbalances | 8,727,972,410.77 | 18.23% | 7,172,331,252.29 | 15.59% | 2.64% | |
| Accountsreceivable | 6,002,283,912.67 | 12.53% | 7,663,458,025.49 | 16.65% | -4.12% | |
| Inventories | 6,408,328,579.03 | 13.38% | 6,152,655,607.85 | 13.37% | 0.01% | |
| Investmentproperties | 653,194.76 | 0.00% | 781,129.10 | 0.00% | 0.00% | |
| Long-termequityinvestment | 123,200,615.96 | 0.26% | 155,008,795.68 | 0.34% | -0.08% | |
| Fixedassets | 15,127,797,700.57 | 31.59% | 13,595,191,232.40 | 29.55% | 2.04% | |
| Constructioninprogress | 2,440,814,349.98 | 5.10% | 2,575,154,318.35 | 5.60% | -0.50% | |
| Right-of-useassets | 1,291,173,420.55 | 2.70% | 1,313,776,299.13 | 2.86% | -0.16% | |
| Short-termborrowings | 5,799,403,308.56 | 12.11% | 4,810,954,130.69 | 10.46% | 1.65% | |
| Contractliabilities | 172,934,050.12 | 0.36% | 122,562,435.14 | 0.27% | 0.09% | Primarilyduetotheincreaseinconsiderationreceivedorreceivablefromcustomersrecognizedinaccordancewiththerevenuestandardsduringthereportingperiod. |
| Long-termborrowings | 4,705,082,312.90 | 9.83% | 5,289,187,891.33 | 11.49% | -1.66% | |
| Leaseliabilities | 1,388,052,599.32 | 2.90% | 1,351,518,837.18 | 2.94% | -0.04% | |
2.Mainoverseasassets
?Applicable□N/A
InRMB
| Assets | Methodofacquisition | Amount | Location | Modeofoperation | Controlsforguaranteeingthesecurityofassets | Income | Proportionofoverseasassetstonetassets | Whetheritinvolvesriskofmaterialimpairmentloss |
| HongKongDongshan | Established | 25,917,138,328.68 | HongKong,China | R&Dandsales | ItsmanufacturingentityislocatedinChina | 488,079,869.70 | 49.10% | No |
| MultekGroup | Established | 5,334,328,434.99 | HongKong,China | R&Dandsales | ItsmanufacturingentityislocatedinChina | 75,399,472.67 | 13.16% | No |
3.Assetsandliabilitiesatfairvalue
?Applicable□N/A
InRMB
| Item | Openingbalance | Gainorlossonchangesinfairvalue | Aggregatechangesinfairvaluerecordedinequity | Impairmentlossrecognizedinthecurrentperiod | Amountacquiredinthecurrentperiod | Amountsoldinthecurrentperiod | Otherchanges | Closingbalance |
| Financialassets | ||||||||
| Derivativefinancialassets | 14,931,966.03 | 2,362,973.26 | 17,381,606.96 | 10,818,462.90 | 11,610,442.57 | 33,884,566.58 | ||
| Investmentsinotherequityinstruments | 63,212,376.92 | 2,023,546.31 | 65,235,923.23 | |||||
| Subtotaloffinancialassets | 78,144,342.95 | 2,362,973.26 | 17,381,606.96 | 12,842,009.21 | 11,610,442.57 | 99,120,489.81 | ||
| Total | 78,144,342.95 | 2,362,973.26 | 17,381,606.96 | 12,842,009.21 | 11,610,442.57 | 99,120,489.81 | ||
| Financialliabilities | 82,922,390.17 | -173,253.51 | -3,171,788.42 | 7,693,348.24 | -298,000.00 | 71,586,000.00 |
OtherchangesN/AIsthereasignificantchangeinthemeasurementattributesfortheCompany’smainassetsduringthereportingperiod?
□Yes?No
4.Encumbrancesonassetsasoftheendofthereportingperiod
InRMB
| Item | Closingbalance | Openingbalance | ||||||
| Bookbalance | Carryingvalue | Typeofrestriction | Reasonofrestriction | Bookbalance | Carryingvalue | Typeofrestriction | Reasonofrestriction | |
| Cashandbankbalances | 1,311,394,704.02 | 1,311,394,704.02 | Pledge | Securitydepositfornotes,etc. | 1,828,730,869.92 | 1,828,730,869.92 | Pledge | Securitydepositfornotes,etc. |
| Accountsreceivable | 130,000,000.00 | 130,000,000.00 | Pledge | Factoring | 90,000,000.00 | 90,000,000.00 | Pledge | Factoring |
| Item | Closingbalance | Openingbalance | ||||||
| Bookbalance | Carryingvalue | Typeofrestriction | Reasonofrestriction | Bookbalance | Carryingvalue | Typeofrestriction | Reasonofrestriction | |
| Accountsreceivablefinancing | 51,194,067.17 | 51,194,067.17 | Pledge | Pledgeofnotes | 47,745,743.70 | 47,745,743.70 | Pledge | Pledgeofnotes |
| Fixedassets | 690,336,250.99 | 190,880,378.32 | Mortgage | Securityforloans,salesandleaseback | ||||
| Right-of-useassets | 1,623,850,391.92 | 1,291,173,420.55 | Mortgage | Financelease | 1,582,499,405.56 | 1,258,999,636.74 | Mortgage | Financelease |
| Total | 3,116,439,163.11 | 2,783,762,191.74 | 4,239,312,270.17 | 3,416,356,628.68 | ||||
VI.AnalysisofInvestments
1.Overview?Applicable□N/A
| Amountofinvestmentinthereportingperiod(RMB) | Amountofinvestmentinthepreviousperiod(RMB) | Y/Y%change |
| 584,356,090.00 | 568,500,000.00 | 2.79% |
2.Majorequityinvestmentsacquiredduringthereportingperiod
□Applicable?N/A
3.Majornon-equityinvestmentsthathavenotyetbeencompletedinthecurrentperiod
□Applicable?N/A
4.Investmentinfinancialassets
(1)Investmentinsecurities
□Applicable?N/AWehavenotinvestedinanysecuritiesduringthereportingperiod.
(2)Investmentinderivatives?Applicable□N/A
1)Investmentinderivativesforhedgingpurposesduringthereportingperiod?Applicable□N/A
InRMB0’000
| Typeofinvestmentinderivatives | Initialinvestmentamount | Openingbalance | Gainorlossonchangesinfairvalue | Aggregatechangesinfairvaluerecordedinequity | Amountacquiredinthecurrentperiod | Amountsoldinthecurrentperiod | Closingbalance | %ofnetassetsattheendofthereportingperiod |
| Commodityfutures | 16,561.58 | 14,342.2 | 1,668.5 | 0 | 31,149.03 | 23,557.37 | 23,602.37 | 1.13% |
| Total | 16,561.58 | 14,342.2 | 1,668.5 | 0 | 31,149.03 | 23,557.37 | 23,602.37 | 1.13% |
| Hedgeaccountingpoliciesandprinciplesadoptedforthereportingperiodandsignificantchangesinsuchpoliciesandprinciplescomparedtothepreviousreportingperiod | None | |||||||
| Actualprofitorlossforthereportingperiod | ThelossoncommodityfuturestransactionsrecordedinprofitorlosswasRMB16.685million. | |||||||
| Effectofhedging | Weprohibitanyriskyspeculativebehaviorforthepurposeoflockingincostsandavoidingandpreventingtherisksofexchangerateandcommoditypricefluctuations,inordertobetteravoidandpreventtherisksassociatedwithexchangerateandcommoditypricefluctuationsandenhanceourfinancialsoundness. | |||||||
| Sourceoffundsforinvestmentinderivatives | Self-ownedfunds | |||||||
| Analysisofrisksassociatedwiththederivativesheldinthecurrentperiod(includingwithoutlimitationmarketrisk,liquidityrisk,creditrisk,operationalriskandlegalrisk)andrelatedriskcontrolmeasures | RefertotheAnnouncementofCommodityFuturesHedgingTransactions(2024-096)disclosedbyusonDecember7,2024,fortherelevantriskanalysisandcontrols. | |||||||
| Changesinthemarketpriceorfairvalueofthederivativesheldinthecurrentperiod(intheanalysisofthefairvalueofderivatives,thespecificapproaches,assumptionsandparametersusedshallbedisclosed) | Wearemainlyengagedinhedgingtransactionswithmainstreamproductsonmajordomesticfuturesmarkets.Thederivativestradedbyushaveatransparentandactivemarket,andtheirtransactionpricesandsettlementpricescanfullyreflecttheirfairvalue. | |||||||
| Litigationsinvolved(ifapplicable) | N/A | |||||||
| Disclosuredateoftheannouncementoftheboardofdirectorsapprovingtheinvestmentinderivatives(ifany) | December7,2024 | |||||||
2)Investmentinderivativesforspeculativepurposesduringthereportingperiod
□Applicable?N/ATheCompanydidnothaveanyderivativeinvestmentforspeculativepurposesduringthereportingperiod.
5.Useofofferingproceeds?Applicable□N/A
(1)Summaryofuseofofferingproceeds?Applicable□N/A
InRMB0’000
| Yearofoffering | Methodofoffering | Listingdateofsecurities | Totalofferingproceeds | Netofferingproceeds(1) | Totalamountofofferingproceedsusedinthecurrentperiod | Aggregateamountofofferingproceedsalreadyused(2) | Ratioofusedofferingproceedsattheendofthereportingperiod(3)=(2)/(1) | Totalamountofofferingproceedsthepurposeofwhichwaschangedinthecurrentperiod | Aggregateamountofofferingproceedsthepurposeofwhichhasbeenchanged | Percentageofofferingproceedsthepurposeofwhichhasbeenchanged | Totalamountofunusedofferingproceeds | Purposeandwhereaboutsofunusedofferingproceeds | Totalamountofofferingproceedsthathaveremainedunusedformorethantwoyears |
| 2025 | Privateplacementofshares | June27,2025 | 140,400 | 139,151.25 | 79,382.26 | 79,382.26 | 57.05% | 0 | 0 | 0.00% | 59,770.76 | AsofJune30,2025,wehaveraisedRMB597.7076million(includinginterestincomesnetofhandlingfees),andtheremainingraisedfundsaredepositedinaspecialaccountopenedbytheCompanyforraisedfunds. | |
| Total | -- | -- | 140,400 | 139,151.25 | 79,382.26 | 79,382.26 | 57.05% | 0 | 0 | 0.00% | 59,770.76 | -- | 0 |
| Descriptionoftheoveralluseoftheofferingproceeds | |||||||||||||
| WiththeapprovaloftheCSRCundertheReplyontheRegistrationofPrivatePlacementofSharesbySuzhouDongshanPrecisionManufacturingCo.,Ltd.(ZhengJianXuKe[2025]No.911),weprivatelyoffered125,693,822.00RMB-denominatedordinaryA-sharesattheofferpriceofRMB11.17persharetoYUANYonggangandYUANYongfengthroughtheleadunderwriterGuotaiHaitongSecuritiesCo.,Ltd.,andraisedRMB1,403,999,991.74intotal,andafterdeductionoftheunderwriter’sfeeandsponsor’sfee(taxinclusive)totalingRMB8,480,000.00(excludingtheprepaymentofRMB1,060,000.00),thebalanceoftheoffering | |||||||||||||
(2)Committedinvestmentprojectsusingofferingproceeds?Applicable□N/A
InRMB0’000
proceeds,RMB1,395,519,991.74,wasremittedtooursupervisoryaccountofofferingproceedsbyGuotaiHaitongSecuritiesCo.,Ltd.onJune11,2025.Afterthedeductionoftheinformationdisclosureexpenses,accountant’sfee,attorney’sfee,issuanceregistrationandotherexternalcostsdirectlyrelatingtotheofferingofequitysecurities,totalingRMB3,487,447.01(taxexclusive),andafterthedeductionofthesponsor’sfeesofRMB1,000,000.00(taxexclusive)prepaidbytheCompanywithitsownfunds,theamountofnetofferingproceedswasRMB1,391,512,544.73.Pan-ChinaCertifiedPublicAccountantsLLPverifiedthereceiptofsuchofferingproceeds,andissuedtheCapitalVerificationReport(PCCPACapitalVerification[2025]No.5-2).
Nameoffinancingproject
| Nameoffinancingproject | Listingdateofsecurities | Committedinvestmentprojectanduseofover-raisedfunds | Natureofproject | Whethertheprojecthasbeenchangedorpartiallychanged | Totalcommittedinvestmentamount | Totalinvestmentamountasadjusted(1) | Amountinvestedinthecurrentperiod | Aggregateamountalreadyinvestedasoftheendofthereportingperiod(2) | Progressofinvestmentasoftheendofthereportingperiod(3)=(2)/(1) | Datewhentheprojectisreadyforitsintendeduse | Incomeearnedinthecurrentperiod | Cumulativebenefitsrealizedasoftheendofthereportingperiod | Whethertheprojecthasproducedthedesiredresult | Whetherthere’sanysignificantchangeinthefeasibilityoftheproject |
| Committedinvestmentproject | ||||||||||||||
| Privateplacementofshares | June27,2025 | Replenishmentofworkingcapital | Replenishmentofworkingcapital | No | 140,400 | 140,400 | 79,382.26 | 79,382.26 | 56.54% | 0 | 0 | N/A | No | |
| Subtotal | -- | 140,400 | 140,400 | 79,382.26 | 79,382.26 | -- | -- | -- | -- | |||||
| Useofover-raisedfunds | ||||||||||||||
| N/A | N/A | N/A | N/A | No | ||||||||||
| Total | -- | 140,400 | 140,400 | 79,382.26 | 79,382.26 | -- | -- | 0 | 0 | -- | -- | |||
| Failuretomeetthescheduledprogressandproducethedesiredresultandreasonthereof(pleasedescribeonaproject-by-projectbasis,includingthereasonforselectingN/Ainthecolumn“whethertheprojecthasproducedthedesiredresult”) | N/A | |||||||||||||
| Reasonforsignificantchangeinthefeasibilityoftheproject | N/A |
| Amountanduseofover-raisedofferingproceedsandprogressofusethereof | N/A |
| Casesofchangingthepurposeofofferingproceedsormisappropriatingofferingproceedsinviolationofregulations | N/A |
| Changeintheplaceofthecommittedinvestmentproject | N/A |
| Adjustmentofthemethodofimplementationofthecommittedinvestmentproject | N/A |
| Fundspre-investedintheinvestmentprojectandreplacementthereof | N/A |
| Temporaryreplenishmentofworkingcapitalwiththeidleofferingproceeds | N/A |
| Amountofsurplusofferingproceedsandreasonthereof | N/A |
| Purposeandwhereaboutsofunusedofferingproceeds | AsofJune30,2025,wehaveraisedRMB597.7076million(includinginterestincomesnetofhandlingfees),andtheremainingraisedfundsaredepositedinaspecialaccountopenedbytheCompanyforraisedfunds. |
| Problemsoranyotherissuesin | None |
(3)Changesinthecommittedinvestmentprojectsusingofferingproceeds
□Applicable?N/AWemadenochangeinthecommittedinvestmentprojectsusingofferingproceeds.
VII.SaleofMaterialAssetsandEquities
1.Saleofmaterialassets
□Applicable?N/ANomaterialassethasbeensoldduringthereportingperiod.
2.Saleofmaterialequities
□Applicable?N/A
VIII.AnalysisofMajorSubsidiariesandInvesteeCompanies
?Applicable□N/AMajorsubsidiariesandinvesteecompaniesrepresentingmorethan10%ofthenetprofitoftheCompany
InRMB
theuseanddisclosureofofferingproceeds
Companyname
| Companyname | Typeofcompany | Primarybusiness | Registeredcapital | Totalassets | Netassets | Operatingrevenue | Operatingprofit | Netprofit |
| HongKongDongshan | Subsidiary | Design,R&D,salesandafter-salesservicesinrespectofelectroniccircuits;investmentholding | HKD10,000,000 | 25,917,138,328.68 | 10,247,326,797.90 | 16,561,145,566.61 | 616,159,456.38 | 488,079,869.70 |
| MultekGroup | Subsidiary | Design,R&D,salesandafter-salesservicesinrespectofelectroniccircuits;investmentholding | USD218248360.27 | 5,334,328,434.99 | 2,746,060,680.71 | 2,229,234,066.86 | 95,655,782.88 | 75,399,472.67 |
Subsidiariesacquiredordisposedofduringthereportingperiod
□Applicable?N/AInformationaboutmainsubsidiariesandinvesteecompaniesNone
IX.StructuredEntitiesControlledbytheCompany
□Applicable?N/A
X.RiskExposurestotheCompanyandCountermeasures
1.RiskofconcentrationofcustomersWehavegoodcustomerresources.Ourmajorcustomersarewell-knowndomesticandinternationalcompaniesintherelevantindustriesthatareofsoundcreditandhaveestablishedstablecooperationrelationshipswithus.However,ourtop5
customersconstitutealargeproportionofourtotalsalesrevenue,whichmayfurtherincreaseinthefuture.Anymaterialadversechangeinthebusinesssituationofsuchmajorcustomerscouldhaveanadverseeffectonourbusiness.Wewillgivefullplaytoouradvantages,makeactivedeploymentinthenewenergy,AI,opticalmodules,andotheremergingindustriesandstrivetodevelopnewcustomers,inordertomitigatetheadverseeffectoftherelativeconcentrationofcustomersonus.
2.RisksbroughtbyrapidtechnologyupgradingoftheindustryOurbusinesscoverselectroniccircuits,photoelectricdisplay,precisionmanufacturingandothertechnology-intensiveindustries,andourproductsarewidelyappliedinconsumerelectronics,newenergyvehicles,communicationequipment,industrialequipment,AI,medicalappliancesandotherfields,allofwhicharecharacterizedbyrapidtechnologyupgrading.IfourR&Dandmanufacturingcapabilitiesfailtokeeppacewiththerapidtechnologyupgradingofdownstreamproducts,ourproductsandtechnologiesmaybecomeobsolete.Wewillfollowuponthenewtechnologiesandnewprocessesoftheindustryfromthestrategicperspective,andstrivetokeepourtechnologiesandprocessesatanadvancedlevelthroughcontinuousandeffectiveR&Dfunding.
3.RiskofchangesintheglobaltradeenvironmentOurmajorcustomersareinternationallywell-knownenterprises,andtheincomesfromoverseassalesaccountforahighproportion.ThoughChinahasestablishedgoodeconomicandtradecooperationrelationshipswithmajorcountriesintheworld,theincreasinglyfierceregionalfrictionsinrecentyearsmaycauseuncertaintiesintheapplicabletradepolicies,whichcouldaffectourinternationaltrade.Wewillfollowuponthedevelopmentofinternationaltradefrictions,enhancecommunicationwithourcustomers,andcontinuetoenhanceourcompetenciesandcustomeradhesion.
4.RiskofmarketexpansionWeareastrongR&Dandmanufacturingenterpriseinthefieldsofelectroniccircuits,photoelectricdisplayandprecisionmanufacturing.Duetoourstableproductqualityandefficientcustomerservices,wehaveremarkablecompetencies,andareabletoprovidethedownstreamenterpriseswith“one-stop”productsandservices,andsatisfytheirdemandsforsystemicmanufacturingsolutions.However,ourdownstreamindustriesarecharacterizedbyrapidupgradingandrapidchangesinthepreferencesofconsumers,amongothers.Ifourmajorcustomersareatadisadvantageinthemarket,orweareunabletosatisfythedemandsofcustomersinatimelymannerorfailtoacquirenewcustomers,thesalesandmarginrateofourproductsmaydecrease.
Wewillcontinueoureffortsincustomerandmarketdevelopment,andcontinuetoincreaseR&Dfunding,optimizeourproductmixandprocessstructure,enhanceourcompetencies,andactivelycopewithmarketcompetition.
5.Environmentalrisk
Inourproduction,theelectroplating,etchingandotherprocessesproducewastewater,wastegasesandsolidwastes,andthereforearesubjecttostrictrequirementsforenvironmentalprotection.Wecannotexcludethepossibilitythatenvironmentalincidentsmayhappenduringourproductionduetonegligenceinmanagement,forcemajeureorotherwise.Ifwemeetwithanyenvironmentalincident,causepollutiontotheenvironmentorviolatetheapplicableenvironmentalprotectionlawsandregulations,ourreputationandoperationscouldbeadverselyaffected.Alongwiththevigorousdevelopmentofagreenandlow-carboncirculareconomicdevelopmentsystemandimprovementofpeople’slivingstandardinChina,andincreasinglyenhancedawarenessofenvironmentalprotectionofpeople,thecountryattachesincreasinglygreatimportancetoenvironmentalprotection.Ifthecountryputsforwardstricterenvironmentalprotectionrequirements,wemayneedtoincreasethefundingforenvironmentalprotection,whichwouldincreaseourenvironmentalprotectioncostsandinturnaffectourresults.
Wehavesetthebuildingofanenvironment-friendlyenterpriseasakeygoalofoursustainabledevelopmentstrategy,attachedgreatimportancetoandincreasedthefundingforenvironmentalprotectioninourproductionandoperation,activelyrespondedtotherequirementsofthelatestenvironmentalprotectionlawsandregulations,enhancedenvironmentalprotectiontrainingandemployees’awarenessofenvironmentalprotection,takencontrolmeasuresatsource,establishedandimprovedtheenvironmentalmanagementsystem,andimplementedtherequirementsrelatedtoenvironmentalsafetyinallofourkeybusinessactivities,toreducetheenvironmentalrisks.
6.Foreignexchangerisk
Exportsalesconstitutealargeproportionofourtotalsalesrevenue.Becauseourday-to-dayoperationinvolvestransactionsinUSDandotherforeigncurrencies,andourconsolidatedaccountsarepresentedinRMB,thechangesintheexchangeratebetweenRMBandUSDmaycauseforeignexchangerisktoourfutureoperations.
Wewillkeepaclosewatchonthechangesintherelevantforeignexchangerates,strivetocontroltheexposuretoforeignexchangeriskatareasonablelevel,andhedgeorotherwisereduceexposuretosuchrisk.XI.FormulationandImplementationofMarketValueManagementSystemandValuationImprovementPlanWhethertheCompanyhasformulatedamarketvaluemanagementsystem??Yes□NoWhethertheCompanyhasdisclosedavaluationimprovementplan?
□Yes?NoFordetails,refertotheMarketValueManagementSystemdisclosedonwww.cninfo.com.cn.
XII.ImplementationoftheActionPlantoImprovetheQualityandReturnsWhethertheCompanyhasdiscloseditsactionplanannouncementtoimprovethequalityandreturns??Yes□NoInthefirsthalfof2025,weactivelyrespondedtothespecialcampaignof“EnhancingQualityandReturns”bystrengtheningbusinessmanagement,improvingcorecompetitiveness,profitability,andcomprehensiveriskmanagementcapabilities,promotingsustainabledevelopment,anddeliveringreturnstoinvestors.Meanwhile,weadheretotheprincipleofinvestororientation,and,throughoutstandingperformance,soundgovernance,andhigh-qualityinformationdisclosure,weactivelyrewardinvestors,enhancetheirsenseofgain,andcontributetostabilizingthemarketandboostingconfidence.
SectionIVCorporateGovernance,Environment,andSociety
I.ChangesinDirectors,SupervisorsandSeniorExecutives
□Applicable?N/ATherehasbeennochangeinourdirectors,supervisorsandseniorexecutivesduringthereportingperiod,asdetailedintheAnnualReport2024.II.ParticularsofProfitDistributionandTransferofCapitalReservetotheShareCapitalfortheReportingPeriod
□Applicable?N/AWehavenoplantopaycashdividends,distributebonussharesorconvertanycapitalreservetothesharecapitalduringthereportingperiod.
III.ShareIncentivePlans,EmployeeStockOwnershipPlansorOtherEmployeeIncentives
□Applicable?N/ATheCompanydidnotimplementshareincentiveplans,employeestockownershipplansorotheremployeeincentivesduringthereportingperiod.IV.DisclosureofEnvironmentInformation
WhethertheListedCompanyanditsmajorsubsidiariesareincludedinthelistofenterprisestodiscloseenvironmentinformationinaccordancewithlaw?Yes□No
| Numberofenterprisesincludedinthelistofenterprisestodiscloseenvironmentinformationinaccordancewithlaw | 10 | |
| No. | Enterprisename | Indexforthequeryofenvironmentinformationreportsdisclosedinaccordancewithlaw |
| 1 | SuzhouDongshanPrecisionManufacturingCo.,Ltd. | OfficialwebsiteoftheDepartmentofEcologyandEnvironmentofJiangsuProvince(http://sthjt.jiangsu.gov.cn/)–“EnvironmentalProtectionFaces”InformationDisclosurePlatform–LawfulEnterpriseInformationDisclosure |
| 2 | MultekTechnology(Zhuhai)Co.,Ltd. | TheDepartmentofEcologyandEnvironmentofGuangdongProvince–LawfulDisclosureSystemofEnterpriseEnvironmentInformation(https://gdee.gd.gov.cn/gdeepub/front/dal/dal/newindex) |
| 3 | MultekIndustriesLimited | TheDepartmentofEcologyandEnvironmentofGuangdongProvince–LawfulDisclosureSystemofEnterpriseEnvironmentInformation(https://gdee.gd.gov.cn/gdeepub/front/dal/dal/newindex) |
| 4 | MultekChinaLimited | TheDepartmentofEcologyandEnvironmentofGuangdongProvince–LawfulDisclosureSystemofEnterpriseEnvironmentInformation(https://gdee.gd.gov.cn/gdeepub/front/dal/dal/newindex) |
| 5 | YanchengDongshanPrecisionManufacturingCo.,Ltd. | OfficialwebsiteoftheDepartmentofEcologyandEnvironmentofJiangsuProvince(http://sthjt.jiangsu.gov.cn/)–“EnvironmentalProtectionFaces”InformationDisclosurePlatform–LawfulEnterpriseInformationDisclosure |
| 6 | MFLEXYanchengCo.,Ltd. | OfficialwebsiteoftheDepartmentofEcologyandEnvironmentofJiangsuProvince(http://sthjt.jiangsu.gov.cn/)–“EnvironmentalProtectionFaces”InformationDisclosurePlatform–Lawful |
| EnterpriseInformationDisclosure | ||
| 7 | MFLEXSuzhouCo.,Ltd.(Guangxiangfactory) | OfficialwebsiteoftheDepartmentofEcologyandEnvironmentofJiangsuProvince(http://sthjt.jiangsu.gov.cn/)–“EnvironmentalProtectionFaces”InformationDisclosurePlatform–LawfulEnterpriseInformationDisclosure |
| 8 | SuzhouJDIElectronicsInc. | OfficialwebsiteoftheDepartmentofEcologyandEnvironmentofJiangsuProvince(http://sthjt.jiangsu.gov.cn/)–“EnvironmentalProtectionFaces”InformationDisclosurePlatform–LawfulEnterpriseInformationDisclosure |
| 9 | MuttoOptronicsTechnologyCo.,Ltd. | OfficialwebsiteoftheDepartmentofEcologyandEnvironmentofJiangsuProvince(http://sthjt.jiangsu.gov.cn/)–“EnvironmentalProtectionFaces”InformationDisclosurePlatform–LawfulEnterpriseInformationDisclosure |
| 10 | YanchengDongchuangPrecisionManufacturingCo.,Ltd. | OfficialwebsiteoftheDepartmentofEcologyandEnvironmentofJiangsuProvince(http://sthjt.jiangsu.gov.cn/)–“EnvironmentalProtectionFaces”InformationDisclosurePlatform–LawfulEnterpriseInformationDisclosure |
V.SocialResponsibility
Upholdingtheideaof“integrationofenterprisedevelopmentwithsocialresponsibility”,andunderthemissionof“buildingabetterconnectedworldfortomorrow”,wehavecontinuouslyimprovedthegovernancesystemtoincludetheconcernsofstakeholders,thecreationofsocialvalue,andtheenvironmentsustainabledevelopmentintoourcoredecision-making,soastoseriouslyfulfilltheresponsibilitiesasacorporatecitizenandpromotetheeconomicandsocialhigh-qualitydevelopment.Safeguardingtheinterestsofsuppliersandcustomers
Onthebasisofourbusinessstrategy,westrivetocreateafairpurchaseenvironment,optimizethewhole-lifecyclesuppliermanagement,andimplementriskidentification,assessment,management,control,andmonitoringateverystageofthesupplychain,soastocontinuouslybuildacompetitive,resilient,andsustainablesupplychaintosafeguardtheeffortsfor“buildinga100-billionadvancedandintelligentmanufacturingplatform”.Meanwhile,weinsistonthe“customer-centric”approachtoincorporatecustomers’requirementsandhigh-standardqualityrequirementsintothewholeprocessconsistingofproductdesigning,R&D,procurement,production,sales,andafter-salesservices.Weendeavortoachievequickresponseandeffectivehandlingofcustomers’requestsduringthewholelifecycleofproducts,henceprovidingcustomerswithhigh-qualityproductsandsatisfactoryservices.Employeecareandrightsprotection
Westrictlyabidebylaws,regulations,andpoliciesbyestablishingacomprehensivelaborandhumanrightsmanagementsystemandprovidingdiversifiedcommunicationchannelstoensureaharmoniousandinclusiveworkingenvironmentforemployees.Meanwhile,wemakecontinuouseffortstoimproveourtalentdevelopmentsystemandenhancehumanisticcaretoimprovethesenseofbelongingandworthinessofemployees.Inaddition,throughprojectsintendedforthecareofdisabledemployeesandintegratedemploymentprojects,wepromotetheintegratedemploymentofdisabledpersonstoexpandtheircareerpathsandhelpthemliveontheirown.Ecologicalandenvironmentalprotection
Wehavealwaysincorporatedtheideaofgreendevelopmentintoourcorebusinessestooperatethebusinessofcorepartsfornewenergyvehicles,soastostablypromotethegreenandhigh-qualitydevelopment.Meanwhile,weincorporatethebuildingofabeautifulenvironmentandtherequirementsofecologicalandenvironmentalprotectionintothewholeoperatingprocess,andachievethecoordinateddevelopmentofeconomicbenefitswithenvironmentalprotectionbyintroducingnewmaterials,new
equipment,newprocesses,andnewtechnologies,optimizingenergyandresourcemanagement,andreducingresourceconsumptionandwasteatvariousoperatingstages.Ruralrevitalizationandsocialcontribution
Wefirmlybelievein“corporatedevelopmentbasedonsociety,andgivefeedbacktosocietywithdevelopmentachievements”andalwaysintegratesocialresponsibilityintoourdevelopmentby:implementinglocalprocurementandrecruitmenttodevelopregionaleconomy;engagingpublicwelfareeducation,voluntaryservices,andruralrevitalization,wherewetookactivemeasurestoorganizeemployeesinpublicwelfareactivitiestofulfillourcommitmentsongivingbacktosociety.Inthefieldofstudentaid,wemadepreciseeffortstoimplementassistanceplansorsetupstudentaidfundstohelpstudentsinneed,improvetheirlivingandlearningenvironment,andlightupthe“lightofdreams”.
SectionVSignificantMattersI.Covenantsmadebytheactualcontrollers,shareholders,affiliatesandacquireroftheCompany,theCompanyitselfandotherrelatedpartiesthathavebeenfulfilledduringthereportingperiodorthatfailtobefulfilledontimeasoftheendofthereportingperiod?Applicable□N/A
| Backgroundofcovenant | Covenantor | Typeofcovenant | Contentofcovenant | Timeofcovenant | Validityperiodofthecovenant | Statusoffulfillment |
| Covenantrelatingtoinitialpublicofferingorsubsequentfundraisings | YUANYongfengandYUANYonggang | Covenantsrelatedtorestrictionsonthesaleofshares | EachoftheshareholdersYUANYongfengandYUANYonggang,asdirectorandseniorexecutiveoftheCompany,covenantsthatsolongasIremainadirectorandseniorexecutiveoftheCompany,Iwillnottransfermorethan25%ofthetotalsharesheldbymeintheCompanyeachyear;andifIceasetobeadirectorandseniorexecutiveoftheCompany,IwillnottransferanysharesheldbymeintheCompanywithinhalfayear,andwillnottransfermorethan50%ofthetotalsharesheldbymeintheCompanythroughthestockexchangewithin12monthsthereafter. | April9,2010 | Permanentlybinding | Asoftheendofthereportingperiod,thecovenantorshavecompliedwithsuchcovenants. |
| YUANYongfeng,YUANYonggangandYUANFugen | Covenantsrelatedtohorizontalcompetition,related-partytransactionsandoccupationoffunds | Covenantsrelatedtohorizontalcompetition:EachoftheshareholdersYUANYonggang,YUANYongfeng,andYUANFugencovenantsthatIdonot,directlyorindirectly,engageinanybusinessincompetitionwiththebusinessactuallyconductedbytheCompany. | April9,2010 | Permanentlybinding | Asoftheendofthereportingperiod,thecovenantorshavecompliedwithsuchcovenants. | |
| YUANYongfeng,YUANYonggangandYUANFugen | Covenantsrelatedtohorizontalcompetition,related-partytransactionsandoccupationoffunds | Covenantsrelatedtohorizontalcompetition:EachoftheshareholdersYUANYonggang,YUANYongfeng,andYUANFugencovenantsthatafterthecompletionofthismaterialassetrestructuring,Iwillnot,directlyorthroughanyaffiliate,participateorengageinanybusinessthatsubstantiallycompetesormightcompetewiththebusinessoftheCompany;andifanyproductmanufacturedorbusinessconductedbyanyentitywhollyowned,controlledorinvestedbymeinthefuturecompetesormightcompetewiththeCompany,attherequestoftheCompany,Iwilltransferalloftheinvestmentorsharesheldbymeinsuchentity,giveprioritytotheCompanyoritswholly-ownedsubsidiaryintheacquisitionofsuchinvestmentorsharessubjecttotheapplicablelawsandregulations,andusemybesteffortstoprocurethatthetransferpricewillbedeterminedonanarm’slengthbasis;andifIoranyofmyaffiliatesbreachesanycovenantsetforthabove,IwillindemnifytheCompanyandothershareholdersforthedamagesarisingtherefromaccordingtolaw. | June11,2018 | Permanentlybinding | Asoftheendofthereportingperiod,thecovenantorshavecompliedwithsuchcovenants. | |
| YUANYongfeng,YUANYonggangandYUANFugen | Covenantsrelatedtohorizontalcompetition,related-partytransactionsandoccupationoffunds | Covenantsrelatedtotheregulationandreductionofrelated-partytransactions:EachoftheshareholdersYUANYonggang,YUANYongfeng,andYUANFugencovenantsthat(i)Iandmyaffiliateswillavoidorreducerelated-partytransactionswiththeCompanytothemaximumextentpracticable;(ii)withrespecttotherelated-partytransactionsthatareunavoidableornecessary,Iwillabidebytheprincipleofjustice,fairnessandopenness,enterintotherelevantagreementsaccordingtolaw,performthelegalprocedurespursuanttotheapplicablelaws,regulations,normativedocuments,theArticlesofAssociationandotherrelevantprovisionsoftheCompany,ensurethatsuchrelated-partytransactionsarefair,complywiththeregulations,andwillnotdamagethelegitimaterightsandinterestsoftheCompanyandothershareholders,andmaketherelevantinformationdisclosurespromptlyinaccordancewiththerequirementsoftheapplicablelaws,regulationsandnormativedocuments;and(iii)IwillexercisetheshareholderrightsinstrictaccordancewiththeCompanyLawandotherapplicablelawsandregulations,andtherelevantprovisionsoftheArticlesofAssociationoftheCompany,andabstainfromthevotingontherelated-partytransactionsinvolvingmeandotherentitiescontrolledbymeatthegeneralmeetingofthe | June11,2018 | Permanentlybinding | Asoftheendofthereportingperiod,thecovenantorshavecompliedwithsuchcovenants. |
| Backgroundofcovenant | Covenantor | Typeofcovenant | Contentofcovenant | Timeofcovenant | Validityperiodofthecovenant | Statusoffulfillment |
| Companyinaccordancewiththerelevantprovisions. | ||||||
| YUANYongfengandYUANYonggang | CovenantnottoselltheCompany’ssharesduringaspecificperiod | I.Withinsixmonthsfromthebasedateforpricing(March13,2024)fortheprivateplacementofshares,IandtheaffiliatesundermycontrolhavenotsoldthesharesofDSBJ;II.FromthebasedateforpricingtotheexpirationofeighteenmonthsaftertheprivateplacementofDSBJiscompleted,IandtheaffiliatesundermycontrolwillneithersellDSBJ’ssharesinanyformnorhaveanyplanofsellingDSBJ’sshares;andIII.Mycovenantisanirrevocablecovenant,whichshallbebindingonmeandtheaffiliatesundermycontrolfromtheexecutiondateofthiscovenant,andthetransfereeunderthesharetransferdescribedaboveshallinheritthiscovenant;ifIandtheaffiliatesundermycontrolsellsharesinviolationofthiscovenant,alltheproceedsfromsellingsuchsharesshallbeownedbyDSBJandIshallbefullyresponsibleforallthelegalliabilitiesarisingtherefrom. | December18,2024 | Permanentlybinding | Asoftheendofthereportingperiod,thecovenantorshavecompliedwithsuchcovenants. | |
| YUANYongfengandYUANYonggang | Commitmentonlock-upofshares | Iwillnottransfer,sell,orotherwisedisposeofthesharesofDSBJIpurchasedthistimewithin36monthsfromtheenddate(namely,thefirstdatewhenthenewsharesarelisted)oftheprivateplacementofshares.Aftertheprivateplacementiscompleted,additionalsharesarisingfromthebonusshares,sharestransferredfromreserves,orotherwiseshallalsobesubjecttotheforegoingprovisionsonthelockupperiod. | June10,2025 | June27,2028 | Asoftheendofthereportingperiod,thecovenantorshavecompliedwithsuchcovenants. | |
| Othercovenants | YUANYongfeng,YUANYonggang,ZHAOXiutian,SHANJianbin,WANGXu,MAOXiaoyanandMALiqiang | Othercovenants | Covenantregardingtheremedialmeasuresagainstdilutionofcurrentearningscausedbytheprivateplacement:EachofthedirectorsandseniorexecutivesoftheCompanycovenantsthat:(i)Iwillnottransferbenefitstoanyotherentityorindividualwithoutcompensationoronunfairterms,orotherwisedamagetheinterestsoftheCompany;(ii)Iwillexerciseself-disciplineinconsumptioninperformingmyduties;(iii)IwillnotusetheassetsoftheCompanytoengageinanyinvestmentorconsumptionactivitiesnotinconnectionwithmyduties;(iv)IwilllinkthecompensationsystemadoptedbytheBoardofDirectorsortheCompensationCommitteewiththeimplementationoftheCompany’sremedialmeasuresagainstdilutionofcurrentearnings;(v)iftheCompanyimplementsanyshareincentiveplaninthefuture,IwilllinkthevestingconditionsundersuchshareincentiveplanwiththeimplementationoftheCompany’sremedialmeasuresagainstdilutionofcurrentearnings;and(vi)IwillseriouslyimplementtheCompany’sremedialmeasuresagainstdilutionofcurrentearnings,andabidebytherelevantcovenantsmadebyme;andifIbreachanycovenantsetforthabove,IwillindemnifytheCompanyortheinvestorsforthelossesarisingtherefromaccordingtolaw,andacceptthepunishmentsthatthecompetentregulatoryauthoritiesmayimposeonme. | October10,2019 | Permanentlybinding | Asoftheendofthereportingperiod,thecovenantorshavecompliedwithsuchcovenants. |
| Othercovenants | YUANFugen,YUANYongfengandYUANYonggang | Othercovenants | Covenantregardingtheremedialmeasuresagainstdilutionofcurrentearningscausedbytheprivateplacement:EachofthecontrollingshareholdersandactualcontrollersoftheCompanycovenantsthatIwillnotinterferewiththemanagementandoperationoftheCompanybeyondmypowers,orinfringeontheinterestsoftheCompany;andasthepersonresponsiblefortheseriousimplementationoftheremedialmeasuresagainstdilutionofcurrentearnings,ifIbreachorrefusetofulfillanycovenantsetforthabove,Iwillassumetherelevantliabilitiesaccordingtolaw. | October17,2019 | Permanentlybinding | Asoftheendofthereportingperiod,thecovenantorshavecompliedwithsuchcovenants. |
| Othercovenants | YUANFugen,YUANYongfengandYUANYonggang | Othercovenants | ToensuretheeffectiveimplementationoftheremedialmeasuresagainstdilutionofearningstobetakenbytheCompany,eachofthecontrollingshareholdersandactualcontrollersoftheCompanycovenantsthat:“(i)IwillnotinterferewiththemanagementandoperationoftheCompanybeyondmypowers,orinfringeontheinterestsoftheCompany;(ii)fromthedateofthisLetterofUndertakingtillthecompletionofthisoffering,incaseofanynewregulatoryprovisionspromulgatedbytheCSRCortheSZSEregardingtheremedialmeasuresagainstdilutionofearningsandrelatedcovenants,asaresultofwhichthecovenantssetforthabovenolongercomplywithsuchnewprovisions,Iwillmakeadditionalcovenantsinaccordancewithsuchnewprovisions;and(iii)IwillseriouslyimplementtheremedialmeasuresagainstdilutionofearningsadoptedbytheCompanyandfulfillmycovenantsinconnectiontherewith,andifIbreachorrefusetofulfillanycovenantsetforthabove,acceptthepenaltiesorotherregulatoryactionsthatmaybeimposedortakenbytheCSRC,theSZSEorother | March12,2024 | Permanentlybinding | Asoftheendofthereportingperiod,thecovenantorshavecompliedwithsuchcovenants. |
| Backgroundofcovenant | Covenantor | Typeofcovenant | Contentofcovenant | Timeofcovenant | Validityperiodofthecovenant | Statusoffulfillment |
| competentsecuritiesauthoritiesagainstme,andindemnifytheCompanyortheinvestorsforthelossesarisingtherefromaccordingtolaw.” | ||||||
| Othercovenants | YUANYongfeng,YUANYonggang,ZHAOXiutian,SHANJianbin,WANGXuandMAOXiaoyan | Othercovenants | ToensuretheeffectiveimplementationoftheremedialmeasuresagainstdilutionofearningstobetakenbytheCompany,eachofthedirectorsandseniorexecutivesoftheCompanycovenantsthat:“(i)Iwillnottransferbenefitstoanyotherentityorindividualwithoutcompensationoronunfairterms,orotherwisedamagetheinterestsoftheCompany;(ii)Iwillexerciseself-disciplineinconsumptioninperformingmyduties;(iii)IwillnotusetheassetsoftheCompanytoengageinanyinvestmentorconsumptionactivitiesnotinconnectionwithmyduties;(iv)IwilllinkthecompensationsystemadoptedbytheBoardofDirectorsortheCompensationCommitteewiththeimplementationoftheCompany’sremedialmeasuresagainstdilutionofcurrentearnings;(v)iftheCompanyimplementsanyshareincentiveplaninthefuture,IwilllinkthevestingconditionsundersuchshareincentiveplanwiththeimplementationoftheCompany’sremedialmeasuresagainstdilutionofcurrentearnings;(vi)fromthedateofthisLetterofUndertakingtillthecompletionofthisoffering,incaseofanynewregulatoryprovisionspromulgatedbytheCSRCortheSZSEregardingtheremedialmeasuresagainstdilutionofearningsandrelatedcovenants,asaresultofwhichthecovenantssetforthabovenolongercomplywithsuchnewprovisions,Iwillmakeadditionalcovenantsinaccordancewithsuchnewprovisions;and(vii)IwillseriouslyimplementtheremedialmeasuresagainstdilutionofearningsadoptedbytheCompanyandfulfillmycovenantsinconnectiontherewith,andifIbreachanycovenantsetforthabove,indemnifytheCompanyortheinvestorsforthelossesarisingtherefromaccordingtolaw.” | March12,2024 | Permanentlybinding | Asoftheendofthereportingperiod,thecovenantorshavecompliedwithsuchcovenants. |
| Whetherthecovenantshavebeenfulfilledontime | Yes | |||||
| Ifanycovenantfailstobefulfilledontime,pleaseexplainthereasonandtherelevantactionstobetakenindetail | N/A | |||||
II.OccupationbytheControllingShareholdersandtheirAffiliatesoftheFundsoftheListedCompanyforNon-operatingPurpose
□Applicable?N/AOurcontrollingshareholdersandtheiraffiliateshavenotoccupiedourfundsfornon-operatingpurposesduringthereportingperiod.III.ExternalGuaranteesinViolationoftheRegulations
□Applicable?N/AWehavenotprovidedanyexternalguaranteeinviolationoftheapplicableregulationsduringthereportingperiod.
IV.EngagementandTerminationofEngagementofAccountingFirm
Hasthesemi-annualfinancialreportbeenaudited?
□Yes?NoThesemi-annualreporthasnotbeenaudited.
V.ExplanationbytheBoardofDirectorsandtheBoardofSupervisorsabouttheModifiedAuditor’sReportIssuedbytheAccountingFirmfortheReportingPeriod
□Applicable?N/AVI.ExplanationbytheBoardofDirectorsabouttheModifiedAuditor’sReportofthePreviousYear
□Applicable?N/A
VII.MattersRelatingtoBankruptcyandReorganization
□Applicable?N/AWehavenotbeeninvolvedinanybankruptcyorreorganizationproceedingsduringthereportingperiod.
VIII.Litigation
Materiallitigationandarbitrationproceedings
□Applicable?N/AWehavenotbeeninvolvedinanymateriallitigationorarbitrationproceedingsduringthereportingperiod.Otherlitigationproceedings
□Applicable?N/A
IX.PunishmentsandRectifications
□Applicable?N/AWehavenotbeeninvolvedinanypunishmentandrectificationduringthereportingperiod.
X.CreditStandingoftheCompanyanditsControllingShareholdersandActualControllers
□Applicable?N/AXI.MaterialRelated-partyTransactions
1.Related-partytransactionsrelatingtoday-to-dayoperation
□Applicable?N/ATherehasbeennorelated-partytransactionrelatingtoday-to-dayoperationduringthereportingperiod.
2.Related-partytransactionsinvolvingtheacquisitionorsaleofassetsorequities
□Applicable?N/ATherehasbeennorelated-partytransactioninvolvingtheacquisitionorsaleofassetsorequitiesduringthereportingperiod.
3.Related-partytransactionsinvolvingjointexternalinvestment
□Applicable?N/ATherehasbeennorelated-partytransactioninvolvingjointexternalinvestmentduringthereportingperiod.
4.Debtsowedbyandtorelatedparties
□Applicable?N/ATherehasbeennodebtowedbyortorelatedpartiesduringthereportingperiod.
5.Dealingswithaffiliatedfinancialcompanies
□Applicable?N/ATherehasbeennodeposit,loan,facilityorotherfinancialbusinessbetweenusandanyofouraffiliatedfinancialcompanies.
6.DealingswithfinancialcompaniescontrolledbytheCompanyanditsaffiliates
□Applicable?N/ATherehasbeennodeposit,loan,facilityorotherfinancialbusinessbetweenanyofourcontrolledfinancialcompaniesandaffiliates.
7.Othermaterialrelated-partytransactions
□Applicable?N/A
XII.ParticularsandPerformanceofMaterialContracts
1.Trusteeship,contractingandleases
(1)Trusteeship
□Applicable?N/ANosuchcaseduringthereportingperiod.
(2)Contracting
□Applicable?N/ANosuchcaseduringthereportingperiod.
(3)Leases
□Applicable?N/ANosuchcaseduringthereportingperiod.
2.Materialguarantees
?Applicable□N/A
InRMB0’000
| ExternalguaranteesprovidedbytheCompanyanditssubsidiaries(excludingthoseprovidedforthesubsidiaries) | ||||||||||
| Obligor | Disclosuredateofannouncementofthemaximumamountguaranteed | Maximumamountguaranteed | Effectivedateofguarantee | Actualamountguaranteed | Typeofguarantee | Collateral(ifapplicable) | Counterguarantee(ifapplicable) | Termofguarantee | Whetherornotexpired | Whetherornotprovidedforarelatedparty |
| SuzhouToprunElectricEquipmentCo.,Ltd. | 3,000 | 2,900.80 | Jointandseveralliabilityguarantee | |||||||
| ShanghaiFuShanPrecisionManufacturingCo.,Ltd. | 3,000 | 0 | ||||||||
| Totalamountofexternalguaranteeapprovedduringthereportingperiod(A1) | 6,000 | Totalamountofexternalguaranteeactuallyprovidedduringthereportingperiod(A2) | 3,800 | |||||||
| Totalamountofexternalguaranteeapprovedasattheendofthereportingperiod(A3) | 6,000 | Totalamountofexternalguaranteeactuallyprovidedasattheendofthereportingperiod(A4) | 2,900.80 | |||||||
| GuaranteesprovidedbytheCompanyforitssubsidiaries | ||||||||||
| Obligor | Disclosuredateofannouncementofthemaximumamountguaranteed | Maximumamountguaranteed | Effectivedateofguarantee | Actualamountguaranteed | Typeofguarantee | Collateral(ifapplicable) | Counterguarantee(ifapplicable) | Termofguarantee | Whetherornotexpired | Whetherornotprovidedforarelatedparty |
| DragonElectronixHoldingsInc.anditssubsidiaries | 200,000 | 158,700 | ||||||||
| HongKongDongshanHoldingLimitedanditssubsidiaries | 400,000 | 9,800 | ||||||||
| MultekGroup(HongKong)Limitedanditssubsidiaries | 150,000 | 67,865.58 | ||||||||
| ChaoweiMicroelectronics(Yancheng)Co.,Ltd. | 50,000 | 20,000 | ||||||||
| SuzhouJDIElectronicsInc. | 20,000 | 14,900 | ||||||||
| MuttoOptronicsTechnologyCo.,Ltd. | 50,000 | 6,144.27 | ||||||||
| SuzhouRFTopElectronicCommunicationCo.,Ltd. | 5,000 | 1,775.03 | ||||||||
| SuzhouChengjiaPrecisionManufacturingCo.,Ltd. | 5,000 | 1,000 | ||||||||
| SuzhouYongchuangCommunicationTechnologyCo.,Ltd. | 80,000 | 4,000 | ||||||||
| YanchengDongchuangPrecisionManufacturingCo.,Ltd. | 120,000 | 82,046.95 | ||||||||
| YanchengDongshanPrecisionManufacturingCo.,Ltd. | 100,000 | 66,950 | ||||||||
| YanchengDongshanCommunicationTechnologyCo.,Ltd. | 3,000 | |||||||||
| SuzhouDongyueNewEnergyTechnologyCo.,Ltd. | 20,000 | |||||||||
| Totalamountofguaranteeapprovedtobeprovidedforsubsidiariesduringthereportingperiod(B1) | 1,203,000 | Totalamountofguaranteeactuallyprovidedforsubsidiariesduringthereportingperiod(B2) | 599,440.36 | |||||||
| Totalamountofguaranteeapprovedtobeprovidedforsubsidiariesasattheendofthereportingperiod(B3) | 1,203,000 | Totalamountofguaranteeactuallyprovidedforsubsidiariesasattheendofthereportingperiod(B4) | 433,181.83 | |||||||
| Guaranteesprovidedbysubsidiariesforeachother | ||||||||||
| Obligor | Disclosuredateofannouncementofthemaximumamountguaranteed | Maximumamountguaranteed | Effectivedateofguarantee | Actualamountguaranteed | Typeofguarantee | Collateral(ifapplicable) | Counterguarantee(ifapplicable) | Termofguarantee | Whetherornotexpired | Whetherornotprovidedforarelatedparty |
| Totalamountofguaranteeapprovedtobeprovidedforsubsidiariesduringthereportingperiod(C1) | 0 | Totalamountofguaranteeactuallyprovidedforsubsidiariesduringthereportingperiod(C2) | 0 | |||||||
| Totalamountofguaranteeapprovedtobeprovidedforsubsidiariesasattheendofthereportingperiod(C3) | 0 | Totalamountofguaranteeactuallyprovidedforsubsidiariesasattheendofthereportingperiod(C4) | 0 | |||||||
| TotalamountofguaranteeprovidedbytheCompany | ||||||||||
| Totalamountofguaranteeapprovedduringthereportingperiod(A1+B1+C1) | 1,209,000 | Totalamountofguaranteeactuallyprovidedduringthereportingperiod(A2+B2+C2) | 603,240.36 | |||||||
| Totalamountofguaranteeapprovedasattheendofthereportingperiod(A3+B3+C3) | 1,209,000 | Totalamountofguaranteeactuallyprovidedasattheendofthereportingperiod(A4+B4+C4) | 436,082.63 | |||||||
| Ratioofthetotalamountofguaranteeactuallyprovided(A4+B4+C4)tothenetassetsoftheCompany | 20.90% | |||||||||
| Incl.: | ||||||||||
| Outstandingguaranteesprovidedforshareholders,actualcontrollersandtheiraffiliates(D) | 0 | |||||||||
| Outstandingguaranteesdirectlyorindirectlyprovidedforobligorswhosedebt-to-assetsratioexceeds70%(E) | 159,042.02 | |||||||||
| Portionofthetotalamountofguaranteeinexcessof50%ofthenetassets(F) | 0 | |||||||||
| Total(D+E+F) | 159,042.02 | |||||||||
3.Entrustedwealthmanagement
?Applicable□N/A
InRMB0’000
| Type | Sourceoffunds | Totalamount | Outstandingamount | Overdueamount | Impairmentlossrecognizedforoverduewealthmanagementproducts |
| Bankwealthmanagementproduct | Self-ownedfunds | 277,306.88 | 75,481.02 | 0 | 0 |
| Total | 277,306.88 | 75,481.02 | 0 | 0 | |
High-riskentrustedwealthmanagementproductsthataresignificantindividually,illiquidornotprincipal-protected
□Applicable?N/AEntrustedwealthmanagementproductstheprincipalofwhichmaybeunrecoverableorwhichmayotherwisebeimpaired
□Applicable?N/A
4.Othermaterialcontracts
□Applicable?N/AWehavenotenteredintoanyothermaterialcontractduringthereportingperiod.
XIII.OtherSignificantMatters
□Applicable?N/AThere’snoothersignificantmatterneedingtobeexplainedforthereportingperiod.
XIV.SignificantMattersofSubsidiaries
□Applicable?N/A
SectionVIChangesinSharesandShareholders
I.ChangesinShares
1.Changesinshares
InShares
| Beforethechange | Change(+/-) | Afterthechange | |||||||
| Number | % | Newshares | Bonusshares | Capitalizationofcapitalreserves | Others | Subtotal | Number | % | |
| I.Non-tradableshares | 319,591,987 | 18.73% | 125,693,822 | 125,693,822 | 445,285,809 | 24.31% | |||
| 1.SharesheldbytheState | |||||||||
| 2.SharesheldbyState-ownedcorporations | |||||||||
| 3.Sharesheldbyotherdomesticinvestors | 319,591,987 | 18.73% | 125,693,822 | 125,693,822 | 445,285,809 | 24.31% | |||
| Incl.:Sharesheldbydomesticnon-State-ownedcorporations | |||||||||
| Sharesheldbydomesticnaturalpersons | 319,591,987 | 18.73% | 125,693,822 | 125,693,822 | 445,285,809 | 24.31% | |||
| 4.Sharesheldbyforeigninvestors | |||||||||
| Incl.:Sharesheldbyforeigncorporations | |||||||||
| Sharesheldbyforeignnaturalpersons | |||||||||
| II.Tradableshares | 1,386,321,723 | 81.27% | 1,386,321,723 | 75.69% | |||||
| 1.RMB-denominatedordinaryshares | 1,386,321,723 | 81.27% | 1,386,321,723 | 75.69% | |||||
| 2.Foreigncurrency-denominatedshareslisteddomestically | |||||||||
| 3.Foreigncurrency-denominatedshareslistedoverseas | |||||||||
| 4.Others | |||||||||
| III.Totalshares | 1,705,913,710 | 100.00% | 125,693,822 | 125,693,822 | 1,831,607,532 | 100.00% | |||
Reasonsforchangesinshares?Applicable□N/AWiththeapprovalofShenzhenStockExchangeandCSRC,the125,693,822RMB-denominatedordinarysharesissuedbytheCompanyattheissuancepriceofRMB11.17persharewerelistedonShenzhenStockExchangeonJune27,2025;aftertheissuance,thetotalsharesoftheCompanyincreasedfrom1,705,913,710sharesto1,831,607,532shares.
Approvalforchangesinshares?Applicable□N/AOnMarch10,2025,theCompanyreceivedtheNotificationLetteroftheOpinionsoftheReviewCenteronthePrivatePlacementofSharesbySuzhouDongshanPrecisionManufacturingCo.,Ltd.issuedbytheListingReviewCenterofShenzhenStockExchange,statingthatthelistingreviewinstitutionofShenzhenStockExchangereviewedtheapplicationdocumentsforprivateplacementofshares,andconcludedthattheCompanymettheissuanceconditions,listingconditions,andinformationdisclosurerequirements.OnApril28,2025,theCompanyreceivedtheReplyontheRegistrationofPrivatePlacementofSharesbySuzhouDongshanPrecisionManufacturingCo.,Ltd.(ZhengJianXuKe(2025)No.911)(effectivedateofregistration:April23,2025),whichapprovedtherequestforregistrationofprivateplacementofsharesbytheCompany.Transferofsharesinrelationtothechanges?Applicable□N/AWehavecompletedtheregistrationandcustodyformalitiesforthenewlyissuedshareswithChinaSecuritiesDepositoryandClearingCo.,Ltd.ShenzhenBranchonJune18,2025,andChinaSecuritiesDepositoryandClearingCo.,Ltd.ShenzhenBranchhasissuedacertificateofsecuritiesregistration.Thenatureofthenewlyissuedsharesisrestrictedshares,withalock-upperiodof36monthsfromthelistingdateofthesharesundertheprivateplacementforthe2personspurchasingsuchshares.Progressofsharerepurchases?Applicable□N/AOnApril9,2025,weheldthe18
thmeetingofthe6
thBoardofDirectors,atwhichtheProposalonRepurchaseoftheCompany’sShareswasdeliberatedandapproved,agreeingtouseraisedfundsorotherlawfulfundstorepurchasetheRMB-denominatedordinaryshares(A-shares)issuedbytheCompanythroughtheShenzhenStockExchangebyaggregateauctionforthepurposeofemployeestockownershipplansorequityincentives.ThetotalrepurchasefundsshallrangefromRMB100million(inclusive)toRMB200million(inclusive),andtherepurchasepriceshallnotexceedRMB48.78pershare.AsofMay6,2025,thissharerepurchaseplanhasbeenfullyimplemented,underwhichwehaverepurchasedatotalof4.2022millionsharesoftheCompany,accountingfor0.2463%oftheCompany’stotalsharecapital,wherethehighesttradingpricewasRMB25.95pershare,thelowesttradingpricewasRMB23.27pershare,andthetotaltransactionamountwasRMB100.0844million(excludingtransactionfees).Theabove-mentionedsharerepurchasecomplieswiththeprovisionsoflawsandregulationsandoursharerepurchaseplan.Progressofsaleorrepurchaseofsharesbyaggregateauction
□Applicable?N/ATheimpactofchangesinsharesonfinancialindicatorssuchasbasicearningspershareanddilutedearningspershare,aswellasnetassetspershareattributabletoordinaryshareholdersoftheCompanyforthemostrecentyearandperiod?Applicable?N/ADuringthereportingperiod,(1)theCompanyrepurchased4,202,200shares.Basedonthenetassetsasoftheendofthefirsthalfof2025,thenetassetspershareincreasedbyRMB0.03pershare,whiletheeffectonthebasicearningspershareanddilutedearningspershareisinsignificant;(2)theCompanyissued125,693,822newshares,andbasedonthenetassetsasoftheendofthefirsthalfof2025,thenetassetspersharedecreasedbyRMB0.84pershare,whichresultedinadecreaseofRMB0.03pershareforthebasicearningspershareanddilutedearningspershare.OtherinformationdeemednecessarybytheCompanyorrequiredbysecuritiesregulatoryauthoritiestobedisclosed
□Applicable?N/A
2.Changesinnon-tradableshares?Applicable□N/A
InShares
| Nameofshareholder | Openingnon-tradableshares | Non-tradablesharesreleasedinthecurrentperiod | Increaseinnon-tradablesharesinthecurrentperiod | Closingnon-tradableshares | Reasonofrestriction | Dateofrelease |
| YUANYonggang | 151,669,647 | 0 | 100,555,058 | 252,224,705 | Privateplacementof100,555,058shares | 2028/6/27 |
| YUANYongfeng | 166,791,115 | 0 | 25,138,764 | 191,929,879 | Privateplacementof25,138,764shares | 2028/6/27 |
| Total | 318,460,762 | 0 | 125,693,822 | 444,154,584 | -- | -- |
II.OfferingandListingofSecurities
?Applicable□N/A
| Nameofstocksandderivativesecuritiestherefrom | Dateofissuance | Issuanceprice(orinterestrate) | Numberofshares | Listingdate | Numberofsharesapprovedforlisting | Enddateoftransaction | Indexofdisclosure | Disclosuredate |
| Stocks | ||||||||
| DSBJ | 2025/6/10 | 11.17RMB/share | 125,693,822 | 2025/6/27 | 125,693,822 | www.cninfo.com.cnAnnouncementontheListingofA-sharesUnderPrivatePlacement | 2025/6/25 | |
IssuanceofsecuritiesduringthereportingperiodWiththeapprovalofShenzhenStockExchangeandCSRC,the125,693,822RMB-denominatedordinarysharesissuedbytheCompanyattheissuancepriceofRMB11.17persharewerelistedonShenzhenStockExchangeonJune27,2025;aftertheissuance,thetotalsharesoftheCompanyincreasedfrom1,705,913,710sharesto1,831,607,532shares.III.NumberofshareholdersandshareholdingstructureoftheCompany
InShares
| Totalnumberofordinaryshareholdersattheendofthereportingperiod | 66,530 | Totalnumberofpreferredshareholderswhosevotingrightshadbeenrestitutedattheendofthereportingperiod(ifany)(Note8) | 0 | |||||
| Shareholdingbyshareholdersholdingmorethan5%ofthesharesortop10shareholders(excludingtheshareslentviarefinancing) | ||||||||
| Nameofshareholder | Statusofshareholder | Shareholdingpercentage | No.ofsharesheldattheendofthereportingperiod | Changesinshareholdingduringthereportingperiod | No.ofnon-tradablesharesheld | No.oftradablesharesheld | Pledge,attachmentorfreeze | |
| Statusofshares | Number | |||||||
| YUANYonggang | Domesticnaturalperson | 16.53% | 302,781,254 | 100,555,058 | 252,224,705 | 50,556,549 | Pledge | 134,708,000 |
| YUANYongfeng | Domesticnaturalperson | 13.51% | 247,526,917 | 25,138,764 | 191,929,879 | 55,597,038 | Pledge | 101,653,800 |
| HongKongSecuritiesClearingCompanyLimited | Foreigncorporation | 3.46% | 63,463,125 | 22,612,983 | 0 | 63,463,125 | N/A | 0 |
| YUANFugen | Domestic | 3.21% | 58,796,052 | 0 | 0 | 58,796,052 | N/A | 0 |
| naturalperson | ||||||||
| ChinaLifeInsuranceCompany–Traditional–GeneralInsuranceProduct–005L–CT001Shanghai | Others | 0.89% | 16,303,640 | 5,957,500 | 0 | 16,303,640 | N/A | 0 |
| AgriculturalBankofChinaLimited–JPMorganEmergingPowerHybridSecuritiesInvestmentFund | Others | 0.68% | 12,468,362 | 2,396,417 | 0 | 12,468,362 | N/A | 0 |
| Reform(Shanghai)PrivateFundManagementCo.,Ltd.–ReformRedCoastNo.3PrivateSecuritiesInvestmentFund | Others | 0.65% | 11,994,300 | 5,063,200 | 0 | 11,994,300 | N/A | 0 |
| ZhangjiagangIndustrialCapitalInvestmentCo.,Ltd. | State-ownedcorporation | 0.60% | 10,998,700 | 0 | 0 | 10,998,700 | N/A | 0 |
| Reform(Shanghai)PrivateFundManagementCo.,Ltd.–ReformDualVectorFoilPrivateSecuritiesInvestmentFund | Others | 0.59% | 10,762,629 | 3,126,600 | 0 | 10,762,629 | N/A | 0 |
| LIJinlan | Domesticnaturalperson | 0.50% | 9,144,000 | 3,904,000 | 0 | 9,144,000 | N/A | 0 |
| Strategicinvestorsorgeneralcorporationsbecomingtop10shareholdersasaresultofrightsissue(ifany)(Note3) | N/A | |||||||
| Affiliatesorconcertpartiesamongtheshareholderslistedabove | Amongtheshareholderslistedabove,YUANYonggangandYUANYongfengaresonsofYUANFugen,andYUANYongfengistheelderbrotherofYUANYonggang.YUANFugen,YUANYongfengandYUANYonggangareouractualcontrollers.WearenotawarewhetherthereareaffiliatesorconcertpartieswithinthemeaningoftheAdministrativeMeasuresfortheTakeoverofListedCompaniesamongothershareholderslistedabove. | |||||||
| Delegationorwaiverofvotingrightsorownershipofvotingrightsbyortotheshareholderslistedabove | N/A | |||||||
| Specialexplanationaboutanydedicatedaccountforrepurchaseopenedbyanytop10shareholder(ifany)(Note11) | N/A | |||||||
| Shareholdingbytop10holdersoftradableshares(excludingtheshareslentviarefinancingorunderexecutivelock-up) | ||||||||
| Nameofshareholder | No.oftradablesharesheldattheendofthereportingperiod | Type | ||||||
| Type | Number | |||||||
| HongKongSecuritiesClearingCompanyLimited | 63,463,125 | RMB-denominatedordinaryshare | 63,463,125 |
| YUANFugen | 58,796,052 | RMB-denominatedordinaryshare | 58,796,052 |
| YUANYongfeng | 55,597,038 | RMB-denominatedordinaryshare | 55,597,038 |
| YUANYonggang | 50,556,549 | RMB-denominatedordinaryshare | 50,556,549 |
| ChinaLifeInsuranceCompany–Traditional–GeneralInsuranceProduct–005L–CT001Shanghai | 16,303,640 | RMB-denominatedordinaryshare | 16,303,640 |
| AgriculturalBankofChinaLimited–JPMorganEmergingPowerHybridSecuritiesInvestmentFund | 12,468,362 | RMB-denominatedordinaryshare | 12,468,362 |
| Reform(Shanghai)PrivateFundManagementCo.,Ltd.–ReformRedCoastNo.3PrivateSecuritiesInvestmentFund | 11,994,300 | RMB-denominatedordinaryshare | 11,994,300 |
| ZhangjiagangIndustrialCapitalInvestmentCo.,Ltd. | 10,998,700 | RMB-denominatedordinaryshare | 10,998,700 |
| Reform(Shanghai)PrivateFundManagementCo.,Ltd.–ReformDualVectorFoilPrivateSecuritiesInvestmentFund | 10,762,629 | RMB-denominatedordinaryshare | 10,762,629 |
| LIJinlan | 9,144,000 | RMB-denominatedordinaryshare | 9,144,000 |
| Affiliatesorconcertpartiesamongthetop10holdersoftradableshares,andamongthetop10holdersoftradablesharesandtop10shareholders | N/A | ||
| Securitiesmargintradingconductedbytop10ordinaryshareholders(ifany)(Note4) | N/A | ||
Sharelendingbyshareholdersholdingmorethan5%oftheshares,top10shareholdersandtop10holdersoftradablesharesviarefinancing:
□Applicable?N/AChangescomparedtothepreviousperiodduetoshareslendingviarefinancing/returningbythetop10shareholdersandthetop10holdersoftradableshares
□Applicable?N/AWhetherthetop10ordinaryshareholdersortop10holdersoftradableordinaryshareshaveconductedanytransactionunderthe
repurchaseagreementduringthereportingperiod?
□Yes?NoNotop10ordinaryshareholderortop10holderoftradableordinaryshareshasconductedanytransactionundertherepurchaseagreementduringthereportingperiod.IV.ChangesinShareholdingofDirectors,Supervisors,andSeniorExecutives
?Applicable□N/A
| Name | Title | Status | Openingbalanceofsharesheld | No.ofadditionalsharesacquiredinthecurrentperiod | No.ofsharesdisposedofinthecurrentperiod | Closingbalanceofsharesheld | Numberofrestrictedsharesgrantedatthebeginningofthereportingperiod | Numberofrestrictedsharesgrantedduringthereportingperiod | Numberofrestrictedsharesgrantedattheendoftheperiod |
| YUANYonggang | Chairman | Current | 202,226,196 | 100,555,058 | 0 | 302,781,254 | 0 | 0 | 0 |
| YUANYongfeng | Director&GeneralManager | Current | 222,388,153 | 25,138,764 | 0 | 247,526,917 | 0 | 0 | 0 |
| Total | -- | -- | 424,614,349 | 125,693,822 | 0 | 550,308,171 | 0 | 0 | 0 |
V.ChangesinControllingShareholdersandActualControllers
Changeinthecontrollingshareholdersduringthereportingperiod
□Applicable?N/ATherehasbeennochangeinourcontrollingshareholdersduringthereportingperiod.Changeintheactualcontrollersduringthereportingperiod
□Applicable?N/ATherehasbeennochangeinouractualcontrollersduringthereportingperiod.
VI.PreferredShares
□Applicable?N/AWedidnothaveanypreferredsharesduringthereportingperiod.
SectionVIIBonds
□Applicable?N/A
SectionVIIIFinancialReport
I.Auditor’sReport
Hasthesemi-annualreportbeenaudited?
□Yes?NoThissemi-annualfinancialreporthasnotbeenaudited.
II.Financialstatements
TheamountsinthestatementscontainedinthenotestothefinancialstatementsarepresentedinRMB.
1.ConsolidatedbalancesheetPreparedby:SuzhouDongshanPrecisionManufacturingCo.,Ltd.
InRMB
| Item | Closingbalance | Openingbalance |
| Currentassets: | ||
| Cashandbankbalances | 8,727,972,410.77 | 7,172,331,252.29 |
| Settlementdeposit | ||
| Loanstobanksandotherfinancialinstitutions | ||
| Financialassetsheldfortrading | 99,120,489.81 | 78,144,342.95 |
| Derivativefinancialassets | ||
| Notesreceivable | 17,976,222.55 | 9,037,098.60 |
| Accountsreceivable | 6,002,283,912.67 | 7,663,458,025.49 |
| Accountsreceivablefinancing | 252,886,223.60 | 252,612,009.41 |
| Advancestosuppliers | 200,720,870.22 | 93,875,465.69 |
| Premiumsreceivable | ||
| Reinsuranceaccountsreceivable | ||
| Reinsurancecontractreservesreceivable | ||
| Otherreceivables | 225,193,916.90 | 45,836,662.39 |
| Incl.:Interestreceivable | ||
| Dividendsreceivable | ||
| Financialassetsheldunderresaleagreements | ||
| Inventories | 6,408,328,579.03 | 6,152,655,607.85 |
| Incl.:Dataresources | ||
| Contractassets | ||
| Assetsheldforsale | ||
| Non-currentassetsduewithinoneyear | ||
| Othercurrentassets | 1,263,371,376.18 | 1,209,842,283.99 |
| Totalcurrentassets | 23,197,854,001.73 | 22,677,792,748.66 |
| Non-currentassets: | ||
| Loansandadvancestoclients | ||
| Debtinvestments | ||
| Otherdebtinvestments | ||
| Long-termreceivable | 30,000,000.00 | 30,000,000.00 |
| Long-termequityinvestment | 123,200,615.96 | 155,008,795.68 |
| Investmentsinotherequityinstruments | 333,657,110.00 | 333,657,110.00 |
| Othernon-currentfinancialassets | ||
| Investmentproperties | 653,194.76 | 781,129.10 |
| Fixedassets | 15,127,797,700.57 | 13,595,191,232.40 |
| Constructioninprogress | 2,440,814,349.98 | 2,575,154,318.35 |
| Productivebiologicalassets | ||
| Oilandgasassets | ||
| Right-of-useassets | 1,291,173,420.55 | 1,313,776,299.13 |
| Intangibleassets | 933,681,354.00 | 962,594,133.34 |
| Incl.:Dataresources | ||
| Developmentexpenses | ||
| Incl.:Dataresources | ||
| Goodwill | 2,117,430,282.36 | 2,119,612,220.47 |
| Long-termdeferredexpenses | 898,166,932.32 | 903,599,713.89 |
| Deferredtaxassets | 831,838,960.07 | 834,450,612.08 |
| Othernon-currentassets | 560,438,857.08 | 512,554,751.37 |
| Totalnon-currentassets | 24,688,852,777.65 | 23,336,380,315.81 |
| Totalassets | 47,886,706,779.38 | 46,014,173,064.47 |
| Currentliabilities: | ||
| Short-termborrowings | 5,799,403,308.56 | 4,810,954,130.69 |
| BorrowingsfromCentralBank | ||
| Borrowingsfrombanksandotherfinancialinstitutions | ||
| Financialliabilitiesheldfortrading | 71,586,000.00 | 82,922,390.17 |
| Derivativefinancialliabilities | ||
| Notespayable | 934,630,146.08 | 935,581,272.50 |
| Accountspayable | 9,082,352,248.71 | 9,659,268,990.43 |
| Advancesfromclients | ||
| Contractliabilities | 172,934,050.12 | 122,562,435.14 |
| Financialassetssoldunderrepurchaseagreements | ||
| Depositsfromclientsandotherbanks | ||
| Fundsreceivedasstockbroker | ||
| Fundsreceivedasunderwriterofsecurities | ||
| Employeebenefitspayable | 446,039,909.90 | 597,573,087.02 |
| Taxespayable | 319,446,877.47 | 395,772,127.76 |
| Otherpayables | 96,940,026.12 | 94,163,223.90 |
| Incl.:Interestpayable |
| Dividendspayable | ||
| Feesandcommissionspayable | ||
| Reinsuranceaccountspayable | ||
| Liabilitiesheldforsale | ||
| Non-currentliabilitiesduewithinoneyear | 2,493,252,418.30 | 2,458,987,301.36 |
| Othercurrentliabilities | 3,133,052.29 | 5,190,838.21 |
| Totalcurrentliabilities | 19,419,718,037.55 | 19,162,975,797.18 |
| Non-currentliabilities: | ||
| Provisionforinsurancecontracts | ||
| Long-termborrowings | 4,705,082,312.90 | 5,289,187,891.33 |
| Bondspayable | ||
| Incl.:Preferredshares | ||
| Perpetualbonds | ||
| Leaseliabilities | 1,388,052,599.32 | 1,351,518,837.18 |
| Long-termpayables | 27,754,051.05 | 49,434,786.31 |
| Long-termemployeebenefitspayable | ||
| Provisions | 39,478,887.17 | 58,258,872.92 |
| Deferredincome | 749,040,476.71 | 585,933,889.89 |
| Deferredtaxliabilities | 627,588,885.99 | 630,759,756.43 |
| Othernon-currentliabilities | ||
| Totalnon-currentliabilities | 7,536,997,213.14 | 7,965,094,034.06 |
| Totalliabilities | 26,956,715,250.69 | 27,128,069,831.24 |
| Owners’equity: | ||
| Sharecapital | 1,831,607,532.00 | 1,705,913,710.00 |
| Otherequityinstruments | ||
| Incl.:Preferredshares | ||
| Perpetualbonds | ||
| Capitalreserve | 9,258,103,158.56 | 7,992,284,435.83 |
| Less:Treasuryshares | 175,076,133.79 | 74,991,696.79 |
| Othercomprehensiveincome | -204,407,027.20 | -317,104,374.08 |
| Specialreserve | ||
| Surplusreserve | 232,241,216.54 | 232,241,216.54 |
| Generalriskreserve | ||
| Retainedprofits | 9,927,254,777.86 | 9,288,043,977.88 |
| Totalowners’equityattributabletotheparentcompany | 20,869,723,523.97 | 18,826,387,269.38 |
| Minorityinterests | 60,268,004.72 | 59,715,963.85 |
| Totalowners’equity | 20,929,991,528.69 | 18,886,103,233.23 |
| Totalliabilitiesandowners’equity | 47,886,706,779.38 | 46,014,173,064.47 |
LegalRepresentative:YUANYonggangCFO:WANGXuAccountingSupervisor:ZHUDeguang
2.Standalonebalancesheet
InRMB
| Item | Closingbalance | Openingbalance |
| Currentassets: | ||
| Cashandbankbalances | 2,041,761,925.92 | 1,090,000,348.49 |
| Financialassetsheldfortrading | ||
| Derivativefinancialassets | ||
| Notesreceivable | ||
| Accountsreceivable | 2,991,624,408.85 | 3,143,492,614.37 |
| Accountsreceivablefinancing | 62,860,183.16 | 18,920,385.63 |
| Advancestosuppliers | 27,809,172.03 | 39,423,778.51 |
| Otherreceivables | 7,376,316,038.08 | 5,969,486,558.66 |
| Incl.:Interestreceivable | ||
| Dividendsreceivable | 1,289,047,893.28 | 1,495,758,008.53 |
| Inventories | 908,774,910.11 | 986,847,112.47 |
| Incl.:Dataresources | ||
| Contractassets | ||
| Assetsheldforsale | ||
| Non-currentassetsduewithinoneyear | ||
| Othercurrentassets | 68,795,846.42 | 71,972,689.92 |
| Totalcurrentassets | 13,477,942,484.57 | 11,320,143,488.05 |
| Non-currentassets: | ||
| Debtinvestments | ||
| Otherdebtinvestments | ||
| Long-termreceivable | 30,000,000.00 | 30,000,000.00 |
| Long-termequityinvestment | 9,624,411,643.11 | 9,627,857,599.31 |
| Investmentsinotherequityinstruments | 221,322,110.00 | 221,322,110.00 |
| Othernon-currentfinancialassets | ||
| Investmentproperties | ||
| Fixedassets | 756,016,519.41 | 775,223,315.27 |
| Constructioninprogress | 110,915,088.98 | 148,492,748.83 |
| Productivebiologicalassets | ||
| Oilandgasassets | ||
| Right-of-useassets | 1,630,750.34 | 2,609,200.64 |
| Intangibleassets | 60,618,060.10 | 61,524,955.69 |
| Incl.:Dataresources | ||
| Developmentexpenses | ||
| Incl.:Dataresources | ||
| Goodwill | ||
| Long-termdeferredexpenses | 107,041,930.17 | 89,330,126.49 |
| Deferredtaxassets | 80,524,043.69 | 36,909,520.17 |
| Othernon-currentassets | 66,650,787.87 | 70,661,066.13 |
| Totalnon-currentassets | 11,059,130,933.67 | 11,063,930,642.53 |
| Totalassets | 24,537,073,418.24 | 22,384,074,130.58 |
| Currentliabilities: | ||
| Short-termborrowings | 1,816,012,272.22 | 2,294,208,162.79 |
| Financialliabilitiesheldfortrading |
| Derivativefinancialliabilities | ||
| Notespayable | 1,014,440,747.47 | 585,570,169.87 |
| Accountspayable | 1,773,107,322.29 | 1,389,942,826.35 |
| Advancesfromclients | ||
| Contractliabilities | 26,530,276.72 | 18,959,880.87 |
| Employeebenefitspayable | 23,153,905.12 | 30,758,082.10 |
| Taxespayable | 2,511,618.64 | 3,170,402.36 |
| Otherpayables | 6,313,220,120.63 | 5,101,960,753.88 |
| Incl.:Interestpayable | ||
| Dividendspayable | ||
| Liabilitiesheldforsale | ||
| Non-currentliabilitiesduewithinoneyear | 985,058,664.84 | 799,561,489.98 |
| Othercurrentliabilities | 1,046,506.05 | 1,508,828.34 |
| Totalcurrentliabilities | 11,955,081,433.98 | 10,225,640,596.54 |
| Non-currentliabilities: | ||
| Long-termborrowings | 1,668,885,157.50 | 2,251,616,980.54 |
| Bondspayable | ||
| Incl.:Preferredshares | ||
| Perpetualbonds | ||
| Leaseliabilities | 861,053.29 | |
| Long-termpayables | ||
| Long-termemployeebenefitspayable | ||
| Provisions | 1,103,679.33 | 1,125,097.32 |
| Deferredincome | 15,008,333.61 | 16,473,333.57 |
| Deferredtaxliabilities | 539,691.80 | 534,830.01 |
| Othernon-currentliabilities | ||
| Totalnon-currentliabilities | 1,685,536,862.24 | 2,270,611,294.73 |
| Totalliabilities | 13,640,618,296.22 | 12,496,251,891.27 |
| Owners’equity: | ||
| Sharecapital | 1,831,607,532.00 | 1,705,913,710.00 |
| Otherequityinstruments | ||
| Incl.:Preferredshares | ||
| Perpetualbonds | ||
| Capitalreserve | 9,156,573,425.73 | 7,890,754,703.00 |
| Less:Treasuryshares | 175,076,133.79 | 74,991,696.79 |
| Othercomprehensiveincome | ||
| Specialreserve | ||
| Surplusreserve | 232,241,216.54 | 232,241,216.54 |
| Retainedprofits | -148,890,918.46 | 133,904,306.56 |
| Totalowners’equity | 10,896,455,122.02 | 9,887,822,239.31 |
| Totalliabilitiesandowners’equity | 24,537,073,418.24 | 22,384,074,130.58 |
3.Consolidatedincomestatement
InRMB
| Item | Firsthalfof2025 | Firsthalfof2024 |
| I.Totaloperatingrevenue | 16,955,163,898.89 | 16,628,586,195.56 |
| Incl.:Operatingrevenue | 16,955,163,898.89 | 16,628,586,195.56 |
| Interestincome | ||
| Premiumsearned | ||
| Feeandcommissionincome | ||
| II.Totaloperatingcosts | 16,030,744,161.86 | 15,860,085,715.70 |
| Incl.:Operatingcost | 14,650,499,235.90 | 14,455,695,057.51 |
| Interestexpenses | ||
| Feeandcommissionexpenses | ||
| Surrenders | ||
| Netpaymentsforinsuranceclaims | ||
| Netinsuranceclaimreserves | ||
| Policyholderdividends | ||
| Reinsuranceexpenses | ||
| Taxesandsurcharges | 63,725,956.00 | 97,314,539.31 |
| Sellingexpenses | 157,942,605.07 | 198,461,411.65 |
| Administrativeexpenses | 547,561,939.49 | 513,932,018.38 |
| R&Dexpenses | 581,467,466.93 | 622,223,608.99 |
| Financialexpenses | 29,546,958.47 | -27,540,920.14 |
| Incl.:Interestexpenses | 198,585,725.04 | 229,752,660.54 |
| Interestincome | 113,967,483.54 | 141,164,259.09 |
| Add:Otherincome | 141,318,212.63 | 176,411,848.89 |
| Investmentincome(lossexpressedwith“-”) | -6,702,003.08 | -48,423,970.21 |
| Incl.:Investmentincomefromassociatesandjointventures | -4,073,896.56 | -4,311,831.51 |
| Gainonderecognitionoffinancialassetsatamortizedcost | ||
| Exchangegain(lossexpressedwith“-”) | ||
| Netexposurehedgingincome(lossexpressedwith“-”) | ||
| Gainonchangesinfairvalue(lossexpressedwith“-”) | 2,536,226.77 | -15,065,635.92 |
| Creditimpairmentloss(lossexpressedwith“-”) | 3,764,627.53 | -57,244,335.30 |
| Impairmentlossonassets(lossexpressedwith“-”) | -89,174,069.11 | -105,585,722.55 |
| Gainondisposalofassets(lossexpressedwith“-”) | -14,963,024.24 | -34,905,446.22 |
| III.Operatingprofit(lossexpressedwith“-”) | 961,199,707.53 | 683,687,218.55 |
| Add:Non-operatingrevenue | 5,619,440.36 | 4,983,059.69 |
| Less:Non-operatingexpenses | 6,326,490.28 | 5,571,548.85 |
| IV.Profitbeforetax(lossexpressedwith“-”) | 960,492,657.61 | 683,098,729.39 |
| Less:Incometaxexpenses | 201,934,636.13 | 124,174,716.66 |
| V.Netprofit(lossexpressedwith“-”) | 758,558,021.48 | 558,924,012.73 |
| (I)Classifiedbycontinuityofoperation | ||
| 1.Netprofitfromcontinuingoperation(lossexpressedwith“-”) | 758,558,021.48 | 558,924,012.73 |
| 2.Netprofitfromdiscontinuedoperation(lossexpressedwith“-”) | ||
| (II)Classifiedbyattribution | ||
| 1.Netprofitattributabletoownersoftheparentcompany(netlossexpressedwith“-”) | 758,005,980.61 | 560,600,936.27 |
| 2.Profitattributabletominorityinterests(netlossexpressedwith“-”) | 552,040.87 | -1,676,923.54 |
| VI.Othercomprehensiveincome,net | 112,697,346.88 | -82,463,528.41 |
| Othercomprehensiveincomeattributabletoownersoftheparentcompany,netaftertax | 112,697,346.88 | -82,463,528.41 |
| (I)Othercomprehensiveincomethatcannotbereclassifiedtoprofitorloss | ||
| 1.Changesarisingfromremeasurementofdefinedbenefitplans | ||
| 2.Othercomprehensiveincomethatcannotbereclassifiedtoprofitorlossunderequitymethod | ||
| 3.Changeinfairvalueofinvestmentsinotherequityinstruments | ||
| 4.Changeinfairvalueofthecorporation’screditrisk | ||
| 5.Others | ||
| (II)Othercomprehensiveincomethatwillbereclassifiedtoprofitorloss | 112,697,346.88 | -82,463,528.41 |
| 1.Othercomprehensiveincomethatcanbereclassifiedtoprofitorlossunderequitymethod | ||
| 2.Changeinfairvalueofotherdebtinvestments | ||
| 3.Financialassetsreclassifiedtoothercomprehensiveincome | ||
| 4.Provisionforcreditimpairmentofotherdebtinvestments | ||
| 5.Reservesforcashflowhedge | 20,553,395.38 | -72,795,178.35 |
| 6.Differencesintranslationofforeigncurrencyfinancialstatements | 92,143,951.50 | -9,668,350.06 |
| 7.Others | ||
| Othercomprehensiveincomeattributabletominorityinterests,netaftertax | ||
| VII.Totalcomprehensiveincome | 871,255,368.36 | 476,460,484.32 |
| Totalcomprehensiveincomeattributabletoownersoftheparentcompany | 870,703,327.49 | 478,137,407.86 |
| Totalcomprehensiveincomeattributabletominorityinterests | 552,040.87 | -1,676,923.54 |
| VIII.Earningspershare: | ||
| (I)Basicearningspershare | 0.45 | 0.33 |
| (II)Dilutedearningspershare | 0.45 | 0.33 |
LegalRepresentative:YUANYonggangCFO:WANGXuAccountingSupervisor:ZHUDeguang
4.Standaloneincomestatement
InRMB
| Item | Firsthalfof2025 | Firsthalfof2024 |
| I.Operatingrevenue | 2,035,279,637.55 | 2,146,603,495.20 |
| Less:Operatingcost | 1,923,255,924.16 | 2,082,748,511.41 |
| Taxesandsurcharges | 7,304,339.14 | 14,450,087.28 |
| Sellingexpenses | 11,700,519.31 | 24,066,524.34 |
| Administrativeexpenses | 95,512,928.90 | 124,363,216.37 |
| R&Dexpenses | 95,862,762.28 | 103,191,448.64 |
| Financialexpenses | 97,559,230.35 | 108,373,027.07 |
| Incl.:Interestexpenses | 127,405,110.13 | 175,228,306.42 |
| Interestincome | 27,296,685.73 | 37,981,858.78 |
| Add:Otherincome | 5,531,714.64 | 28,294,000.51 |
| Investmentincome(lossexpressedwith“-”) | -3,285,156.20 | -5,578,349.99 |
| Incl.:Investmentincomefromassociatesandjointventures | -3,445,956.20 | -2,927,211.16 |
| Gainonderecognitionoffinancialassetsatamortizedcost(lossexpressedwith“-”) | ||
| Netexposurehedgingincome(lossexpressedwith“-”) | ||
| Gainonchangesinfairvalue(lossexpressedwith“-”) | -13,243,914.03 | |
| Creditimpairmentloss(lossexpressedwith“-”) | -8,328,750.96 | -57,838,856.00 |
| Impairmentlossonassets(lossexpressedwith“-”) | -1,685,402.36 | 206,582.75 |
| Gainondisposalofassets(lossexpressedwith“-”) | 41,991.25 | 389,609.87 |
| II.Operatingprofit(lossexpressedwith“-”) | -203,641,670.22 | -358,360,246.80 |
| Add:Non-operatingrevenue | 435,385.53 | 5,000.00 |
| Less:Non-operatingexpenses | 4,403,421.43 | 2,575,310.30 |
| III.Profitbeforetax(lossexpressedwith“-”) | -207,609,706.12 | -360,930,557.10 |
| Less:Incometaxexpenses | -43,609,661.73 | -60,283,342.31 |
| IV.Netprofit(lossexpressedwith“-”) | -164,000,044.39 | -300,647,214.79 |
| (I)Netprofitfromcontinuingoperation(lossexpressedwith“-”) | -164,000,044.39 | -300,647,214.79 |
| (II)Netprofitfromdiscontinuedoperation(lossexpressedwith“-”) | ||
| V.Othercomprehensiveincome,net | ||
| (I)Othercomprehensiveincomethatcannotbereclassifiedtoprofitorloss | ||
| 1.Changesarisingfromremeasurementofdefinedbenefitplans | ||
| 2.Othercomprehensiveincomethatcannotbereclassifiedtoprofitorlossunderequitymethod | ||
| 3.Changeinfairvalueofinvestmentsinotherequityinstruments | ||
| 4.Changeinfairvalueofthecorporation’screditrisk | ||
| 5.Others | ||
| (II)Othercomprehensiveincomethatwillbereclassifiedtoprofitorloss | ||
| 1.Othercomprehensiveincomethatcanbereclassifiedtoprofitorlossunderequitymethod | ||
| 2.Changeinfairvalueofotherdebtinvestments | ||
| 3.Financialassetsreclassifiedtoothercomprehensiveincome | ||
| 4.Provisionforcreditimpairmentofotherdebtinvestments | ||
| 5.Reservesforcashflowhedge | ||
| 6.Differencesintranslationofforeigncurrencyfinancialstatements | ||
| 7.Others | ||
| VI.Totalcomprehensiveincome | -164,000,044.39 | -300,647,214.79 |
| VII.Earningspershare: | ||
| (I)Basicearningspershare | -0.10 | -0.18 |
| (II)Dilutedearningspershare | -0.10 | -0.18 |
5.Consolidatedcashflowstatement
InRMB
| Item | Firsthalfof2025 | Firsthalfof2024 |
| I.Cashflowsfromoperatingactivities: | ||
| Proceedsfromsaleofgoodsandrenderingofservices | 17,905,726,279.90 | 17,706,958,316.93 |
| Netincreaseindepositsfromclientsandotherbanks | ||
| NetincreaseinborrowingsfromCentralBank | ||
| Netincreaseinborrowingsfromotherfinancialinstitutions | ||
| Proceedsfrompremiumsunderpriorinsurancecontracts | ||
| Netproceedsfromreinsurancebusiness | ||
| Netincreaseininsured’sdepositsandinvestments | ||
| Proceedsfrominterest,feesandcommissions | ||
| Netincreaseinborrowingsfrombanksandotherfinancialinstitutions | ||
| Netincreaseinreceiptsunderrepurchasetransactions | ||
| Netcashreceivedasstockbroker | ||
| Taxrefundsreceived | 669,998,774.36 | 524,915,907.68 |
| Otherproceedsrelatingtooperatingactivities | 648,888,660.75 | 592,490,973.79 |
| Cashprovidedbyoperatingactivities | 19,224,613,715.01 | 18,824,365,198.40 |
| Paymentsforpurchaseofgoodsandreceiptofservices | 13,120,444,976.67 | 12,996,139,860.06 |
| Netincreaseinloansandadvancesfromclients | ||
| NetincreaseindepositsinCentralBankandotherbanks | ||
| Paymentofclaimsunderpriorinsurancecontracts | ||
| Netincreaseinloanstobanksandotherfinancialinstitutions | ||
| Paymentofinterest,feesandcommissions | ||
| Paymentofpolicyholderdividends | ||
| Paymentstoandforemployees | 2,542,398,872.87 | 2,392,154,841.93 |
| Taxespaid | 360,545,772.47 | 519,477,522.80 |
| Otherpaymentsrelatingtooperatingactivities | 701,106,071.72 | 827,623,574.33 |
| Cashusedinoperatingactivities | 16,724,495,693.73 | 16,735,395,799.12 |
| Netcashflowsfromoperatingactivities | 2,500,118,021.28 | 2,088,969,399.28 |
| II.Cashflowsfrominvestingactivities: | ||
| Proceedsfromdisposalofinvestments | 38,814,660.00 | 308,155,031.33 |
| Proceedsfromreturnoninvestments | 4,378,625.51 | -29,218,011.67 |
| Netproceedsfromthedisposaloffixedassets,intangibleassetsandotherlong-termassets | 77,684,733.24 | 19,280,110.65 |
| Netproceedsfromthedisposalofsubsidiariesandotherbusinessentities | ||
| Otherproceedsrelatingtoinvestingactivities | 793,654,284.84 | 419,424,782.41 |
| Cashprovidedbyinvestingactivities | 914,532,303.59 | 717,641,912.72 |
| Paymentsfortheacquisitionoffixedassets,intangibleassetsandotherlong-termassets | 2,148,254,435.73 | 1,644,034,818.83 |
| Paymentsforinvestments | 168,236,626.52 | 356,562,777.83 |
| Netincreaseinmortgageloans | ||
| Netpaymentsfortheacquisitionofsubsidiariesandotherbusinessentities | ||
| Othercashpaymentsrelatingtoinvestingactivities | 584,356,090.09 | 530,962,815.64 |
| Cashusedininvestingactivities | 2,900,847,152.34 | 2,531,560,412.30 |
| Netcashflowsfrominvestingactivities | -1,986,314,848.75 | -1,813,918,499.58 |
| III.Cashflowsfromfinancingactivities: | ||
| Proceedsfrominvestors | 1,391,512,544.73 | |
| Incl.:Proceedsofsubsidiariesfromminorityshareholders’investments | ||
| Cashreceiptsfromborrowings | 4,365,837,875.26 | 5,465,543,117.47 |
| Otherproceedsrelatingtofinancingactivities | 730,151,717.04 | 329,197,076.44 |
| Cashprovidedbyfinancingactivities | 6,487,502,137.03 | 5,794,740,193.91 |
| Repaymentofborrowings | 4,240,821,985.76 | 4,327,541,972.24 |
| Paymentofdistributionofdividendsandprofitsorforinterest | 269,883,548.61 | 608,693,016.38 |
| Incl.:Dividendsandprofitsdistributedbysubsidiariestominorshareholders | ||
| Otherpaymentsrelatingtofinancingactivities | 453,405,753.18 | 823,264,123.26 |
| Cashusedinfinancingactivities | 4,964,111,287.55 | 5,759,499,111.88 |
| Netcashflowsfromfinancingactivities | 1,523,390,849.48 | 35,241,082.03 |
| IV.Effectofexchangeratechangesoncashandcashequivalents | 35,783,302.37 | 96,575,094.20 |
| V.Netincreaseincashandcashequivalents | 2,072,977,324.38 | 406,867,075.93 |
| Add:Openingbalanceofcashandcashequivalents | 5,343,600,382.37 | 5,644,487,018.31 |
| VI.Closingbalanceofcashandcashequivalents | 7,416,577,706.75 | 6,051,354,094.24 |
6.Standalonecashflowstatement
InRMB
| Item | Firsthalfof2025 | Firsthalfof2024 |
| I.Cashflowsfromoperatingactivities: | ||
| Proceedsfromsaleofgoodsandrenderingofservices | 1,848,570,248.41 | 1,443,818,515.88 |
| Taxrefundsreceived | 55,983,401.38 | 29,497,769.17 |
| Otherproceedsrelatingtooperatingactivities | 706,540,414.22 | 1,514,065,178.51 |
| Cashprovidedbyoperatingactivities | 2,611,094,064.01 | 2,987,381,463.56 |
| Paymentsforpurchaseofgoodsandreceiptofservices | 1,625,050,615.30 | 1,465,458,913.36 |
| Paymentstoandforemployees | 152,271,297.86 | 222,379,192.36 |
| Taxespaid | 7,912,874.45 | 63,148,735.28 |
| Otherpaymentsrelatingtooperatingactivities | 755,309,050.54 | 1,536,093,507.96 |
| Cashusedinoperatingactivities | 2,540,543,838.15 | 3,287,080,348.96 |
| Netcashflowsfromoperatingactivities | 70,550,225.86 | -299,698,885.40 |
| II.Cashflowsfrominvestingactivities: | ||
| Proceedsfromdisposalofinvestments | ||
| Proceedsfromreturnoninvestments | 203,172,800.00 | 636,744,542.27 |
| Netproceedsfromthedisposaloffixedassets,intangibleassetsandotherlong-termassets | 133,574.11 | 1,973,928.00 |
| Netproceedsfromthedisposalofsubsidiariesandotherbusinessentities | ||
| Otherproceedsrelatingtoinvestingactivities | 679,130,328.77 | 52,970,680.65 |
| Cashprovidedbyinvestingactivities | 882,436,702.88 | 691,689,150.92 |
| Paymentsfortheacquisitionoffixedassets,intangibleassetsandotherlong-termassets | 30,663,769.49 | 96,735,594.65 |
| Paymentsforinvestments | 35,000,000.00 | |
| Netpaymentsfortheacquisitionofsubsidiariesandotherbusinessentities | ||
| Othercashpaymentsrelatingtoinvestingactivities | 888,354,407.83 | 377,108,817.47 |
| Cashusedininvestingactivities | 919,018,177.32 | 508,844,412.12 |
| Netcashflowsfrominvestingactivities | -36,581,474.44 | 182,844,738.80 |
| III.Cashflowsfromfinancingactivities: | ||
| Proceedsfrominvestors | 1,391,512,544.73 | |
| Cashreceiptsfromborrowings | 1,360,000,000.00 | 2,006,208,006.67 |
| Otherproceedsrelatingtofinancingactivities | 1,353,041,000.00 | 2,229,593,452.48 |
| Cashprovidedbyfinancingactivities | 4,104,553,544.73 | 4,235,801,459.15 |
| Repaymentofborrowings | 2,233,501,340.00 | 2,303,446,666.67 |
| Paymentofdistributionofdividendsandprofitsorforinterest | 187,206,039.04 | 522,672,772.48 |
| Otherpaymentsrelatingtofinancingactivities | 661,026,890.77 | 1,418,793,147.62 |
| Cashusedinfinancingactivities | 3,081,734,269.81 | 4,244,912,586.77 |
| Netcashflowsfromfinancingactivities | 1,022,819,274.92 | -9,111,127.62 |
| IV.Effectofexchangeratechangesoncashandcashequivalents | 5,841,710.55 | 18,646,929.18 |
| V.Netincreaseincashandcashequivalents | 1,062,629,736.89 | -107,318,345.04 |
| Add:Openingbalanceofcashandcashequivalents | 538,870,203.05 | 478,844,238.56 |
| VI.Closingbalanceofcashandcashequivalents | 1,601,499,939.94 | 371,525,893.52 |
7.Consolidatedstatementofchangesinowners’equity
Amountofthecurrentperiod
InRMB
| Item | Firsthalfof2025 | ||||||||||||||
| Owners’equityattributabletotheparent | Minorityinterests | Totalowners’equity | |||||||||||||
| Sharecapital | Otherequityinstruments | Capitalreserve | Less:Treasuryshares | Othercomprehensiveincome | Specialreserve | Surplusreserve | Generalriskres | Retainedprofits | Others | Subtotal | |||||
| Preferredsha | Perpetualbon | Others | |||||||||||||
| res | ds | erve | |||||||||||||
| I.Balanceattheendofthepreviousyear | 1,705,913,710.00 | 7,992,284,435.83 | 74,991,696.79 | -317,104,374.08 | 232,241,216.54 | 9,288,043,977.88 | 18,826,387,269.38 | 59,715,963.85 | 18,886,103,233.23 | ||||||
| Add:Changesinaccountingpolicies | |||||||||||||||
| Correctionofpreviousperioderrors | |||||||||||||||
| Others | |||||||||||||||
| II.Balanceatthebeginningofthecurrentyear | 1,705,913,710.00 | 7,992,284,435.83 | 74,991,696.79 | -317,104,374.08 | 232,241,216.54 | 9,288,043,977.88 | 18,826,387,269.38 | 59,715,963.85 | 18,886,103,233.23 | ||||||
| III.Increase/(decrease)inthecurrentperiod(decreaseexpressedwith“-”) | 125,693,822.00 | 1,265,818,722.73 | 100,084,437.00 | 112,697,346.88 | 639,210,799.98 | 2,043,336,254.59 | 552,040.87 | 2,043,888,295.46 | |||||||
| (I)Totalcomprehensiveincome | 112,697,346.88 | 758,005,980.61 | 870,703,327.49 | 552,040.87 | 871,255,368.36 | ||||||||||
| (II)Investment/(divestment)byshareholders | 125,693,822.00 | 1,265,818,722.73 | 100,084,437.00 | 1,291,428,107.73 | 1,291,428,107.73 | ||||||||||
| 1.Contributionsfromholdersofordinaryshares | 125,693,822.00 | 1,265,818,722.73 | 1,391,512,544.73 | 1,391,512,544.73 | |||||||||||
| 2. |
| Contributionsfromholdersofotherequityinstruments | ||||||||
| 3.Share-basedpaymentsrecordedinowners’equity | ||||||||
| 4.Others | 100,084,437.00 | -100,084,437.00 | -100,084,437.00 | |||||
| (III)Distributionofprofits | -118,795,180.63 | -118,795,180.63 | -118,795,180.63 | |||||
| 1.Surplusreserve | ||||||||
| 2.Generalriskreserve | ||||||||
| 3.Distributionstoowners(shareholders) | -118,795,180.63 | -118,795,180.63 | -118,795,180.63 | |||||
| 4.Others | ||||||||
| (IV)Internaltransferofowners’equity | ||||||||
| 1.Transferofcapitalreserveto(share)capital | ||||||||
| 2.Transferofsurplusreserveto(share) |
| capital | |||||||||||||
| 3.Make-upoflossesbysurplusreserve | |||||||||||||
| 4.Transferofchangesindefinedbenefitplanstoretainedearnings | |||||||||||||
| 5.Transferofothercomprehensiveincometoretainedearnings | |||||||||||||
| 6.Others | |||||||||||||
| (V)Specialreserve | |||||||||||||
| 1.Appropriatedinthecurrentperiod | |||||||||||||
| 2.Usedinthecurrentperiod | |||||||||||||
| (VI)Others | |||||||||||||
| IV.Balanceattheendofthecurrentperiod | 1,831,607,532.00 | 9,258,103,158.56 | 175,076,133.79 | -204,407,027.20 | 232,241,216.54 | 9,927,254,777.86 | 20,869,723,523.97 | 60,268,004.72 | 20,929,991,528.69 |
Thesameperiodofthepreviousyear
InRMB
| Item | Firsthalfof2024 | ||||||||||||
| Owners’equityattributabletotheparent | Minority | Total | |||||||||||
| Shar | Otherequity | Capi | Less | Oth | Spe | Surp | Gen | Reta | Oth | Subt | |||
| ecapital | instruments | talreserve | :Treasuryshares | ercomprehensiveincome | cialreserve | lusreserve | eralriskreserve | inedprofits | ers | otal | interests | owners’equity | |||
| Preferredshares | Perpetualbonds | Others | |||||||||||||
| I.Balanceattheendofthepreviousyear | 1,709,867,327.00 | 8,063,768,409.73 | 125,906,811.33 | -714,664,578.64 | 184,866,869.73 | 9,025,095,529.05 | 18,143,026,745.54 | 47,329,851.72 | 18,190,356,597.26 | ||||||
| Add:Changesinaccountingpolicies | |||||||||||||||
| Correctionofpreviousperioderrors | |||||||||||||||
| Others | |||||||||||||||
| II.Balanceatthebeginningofthecurrentyear | 1,709,867,327.00 | 8,063,768,409.73 | 125,906,811.33 | -714,664,578.64 | 184,866,869.73 | 9,025,095,529.05 | 18,143,026,745.54 | 47,329,851.72 | 18,190,356,597.26 | ||||||
| III.Increase/(decrease)inthecurrentperiod(decreaseexpressedwith“-”) | 1,107,141.50 | 25,000,846.30 | -82,463,528.41 | 135,281,884.02 | 28,924,650.81 | -1,676,923.54 | 27,247,727.27 | ||||||||
| (I)Totalcomprehensiveincome | -82,463,528.41 | 560,600,936.27 | 478,137,407.86 | -1,676,923.54 | 476,460,484.32 | ||||||||||
| (II)Investment/(divestment)byshareholders | 1,107,141.50 | 25,000,846.30 | -23,893,704.80 | -23,893,704.80 | |||||||||||
| 1.Contributionsfromholdersofordinaryshares | |||||||||||||||
| 2.Contributionsfromholdersofotherequityinstruments | |||||||||||||||
| 3.Share-basedpaymentsrecordedinowners’equity | 1,107,141.50 | 1,107,141.50 | 1,107,141.50 | ||||||
| 4.Others | 25,000,846.30 | -25,000,846.30 | -25,000,846.30 | ||||||
| (III)Distributionofprofits | -425,319,052.25 | -425,319,052.25 | -425,319,052.25 | ||||||
| 1.Surplusreserve | |||||||||
| 2.Generalriskreserve | |||||||||
| 3.Distributionstoowners(shareholders) | -425,319,052.25 | -425,319,052.25 | -425,319,052.25 | ||||||
| 4.Others | |||||||||
| (IV)Internaltransferofowners’equity | |||||||||
| 1.Transferofcapitalreserveto(share)capital | |||||||||
| 2.Transferofsurplusreserveto(share)capital | |||||||||
| 3.Make-upoflossesbysurplusreserve | |||||||||
| 4.Transferofchangesindefinedbenefitplanstoretainedearnings | |||||||||
| 5.Transferofothercomprehensiveincometo |
| retainedearnings | |||||||||||||
| 6.Others | |||||||||||||
| (V)Specialreserve | |||||||||||||
| 1.Appropriatedinthecurrentperiod | |||||||||||||
| 2.Usedinthecurrentperiod | |||||||||||||
| (VI)Others | |||||||||||||
| IV.Balanceattheendofthecurrentperiod | 1,709,867,327.00 | 8,064,875,551.23 | 150,907,657.63 | -797,128,107.05 | 184,866,869.73 | 9,160,377,413.07 | 18,171,951,396.35 | 45,652,928.18 | 18,217,604,324.53 |
8.Standalonestatementofchangesinowners’equity
Amountofthecurrentperiod
InRMB
| Item | Firsthalfof2025 | |||||||||||
| Sharecapital | Otherequityinstruments | Capitalreserve | Less:Treasuryshares | Othercomprehensiveincome | Specialreserve | Surplusreserve | Retainedprofits | Others | Totalowners’equity | |||
| Preferredshares | Perpetualbonds | Others | ||||||||||
| I.Balanceattheendofthepreviousyear | 1,705,913,710.00 | 7,890,754,703.00 | 74,991,696.79 | 232,241,216.54 | 133,904,306.56 | 9,887,822,239.31 | ||||||
| Add:Changesinaccountingpolicies | ||||||||||||
| Correctionofpreviousperioderrors | ||||||||||||
| Others | ||||||||||||
| II.Balanceatthebeginningofthecurrentyear | 1,705,913,710.00 | 7,890,754,703.00 | 74,991,696.79 | 232,241,216.54 | 133,904,306.56 | 9,887,822,239.31 | ||||||
| III.Increase/(decrease)inthecurrent | 125,693,822.00 | 1,265,818,722.73 | 100,084,437.00 | -282,795,225.02 | 1,008,632,882.71 | |||||||
| period(decreaseexpressedwith“-”) | ||||||||
| (I)Totalcomprehensiveincome | -164,000,044.39 | -164,000,044.39 | ||||||
| (II)Investment/(divestment)byshareholders | 125,693,822.00 | 1,265,818,722.73 | 100,084,437.00 | 1,291,428,107.73 | ||||
| 1.Contributionsfromholdersofordinaryshares | 125,693,822.00 | 1,265,818,722.73 | 1,391,512,544.73 | |||||
| 2.Contributionsfromholdersofotherequityinstruments | ||||||||
| 3.Share-basedpaymentsrecordedinowners’equity | ||||||||
| 4.Others | 100,084,437.00 | -100,084,437.00 | ||||||
| (III)Distributionofprofits | -118,795,180.63 | -118,795,180.63 | ||||||
| 1.Surplusreserve | ||||||||
| 2.Distributionstoowners(shareholders) | -118,795,180.63 | -118,795,180.63 | ||||||
| 3.Others | ||||||||
| (IV)Internaltransferofowners’equity | ||||||||
| 1.Transferofcapitalreserveto |
| (share)capital | |||||||||
| 2.Transferofsurplusreserveto(share)capital | |||||||||
| 3.Make-upoflossesbysurplusreserve | |||||||||
| 4.Transferofchangesindefinedbenefitplanstoretainedearnings | |||||||||
| 5.Transferofothercomprehensiveincometoretainedearnings | |||||||||
| 6.Others | |||||||||
| (V)Specialreserve | |||||||||
| 1.Appropriatedinthecurrentperiod | |||||||||
| 2.Usedinthecurrentperiod | |||||||||
| (VI)Others | |||||||||
| IV.Balanceattheendofthecurrentperiod | 1,831,607,532.00 | 9,156,573,425.73 | 175,076,133.79 | 232,241,216.54 | -148,890,918.46 | 10,896,455,122.02 |
Thesameperiodofthepreviousyear
InRMB
| Item | Firsthalfof2024 | |||||||||||
| Sharecapital | Otherequityinstruments | Capitalreserve | Less:Treasuryshares | Othercomprehensiveincome | Specialreserve | Surplusreserve | Retainedprofits | Others | Totalowners’equity | |||
| Preferredshares | Perpetualbonds | Others | ||||||||||
| I.Balanceattheendofthepreviousyear | 1,709,867,327.00 | 7,962,239,056.77 | 125,906,811.33 | -350,000,000.00 | 184,866,869.73 | 482,854,237.57 | 9,863,920,679.74 | |||||
| Add:Changesinaccountingpolicies | ||||||||||
| Correctionofpreviousperioderrors | ||||||||||
| Others | ||||||||||
| II.Balanceatthebeginningofthecurrentyear | 1,709,867,327.00 | 7,962,239,056.77 | 125,906,811.33 | -350,000,000.00 | 184,866,869.73 | 482,854,237.57 | 9,863,920,679.74 | |||
| III.Increase/(decrease)inthecurrentperiod(decreaseexpressedwith“-”) | 1,107,141.50 | 25,000,846.30 | -725,966,267.04 | -749,859,971.84 | ||||||
| (I)Totalcomprehensiveincome | -300,647,214.79 | -300,647,214.79 | ||||||||
| (II)Investment/(divestment)byshareholders | 1,107,141.50 | 25,000,846.30 | -23,893,704.80 | |||||||
| 1.Contributionsfromholdersofordinaryshares | ||||||||||
| 2.Contributionsfromholdersofotherequityinstruments | ||||||||||
| 3.Share-basedpaymentsrecordedinowners’equity | 1,107,141.50 | 1,107,141.50 | ||||||||
| 4.Others | 25,000,846.30 | -25,000,846.30 | ||||||||
| (III)Distribution | -425,3 | -425,3 |
| ofprofits | 19,052.25 | 19,052.25 | ||||||||
| 1.Surplusreserve | ||||||||||
| 2.Distributionstoowners(shareholders) | -425,319,052.25 | -425,319,052.25 | ||||||||
| 3.Others | ||||||||||
| (IV)Internaltransferofowners’equity | ||||||||||
| 1.Transferofcapitalreserveto(share)capital | ||||||||||
| 2.Transferofsurplusreserveto(share)capital | ||||||||||
| 3.Make-upoflossesbysurplusreserve | ||||||||||
| 4.Transferofchangesindefinedbenefitplanstoretainedearnings | ||||||||||
| 5.Transferofothercomprehensiveincometoretainedearnings | ||||||||||
| 6.Others | ||||||||||
| (V)Specialreserve | ||||||||||
| 1.Appropriatedinthecurrentperiod | ||||||||||
| 2.Usedinthecurrentperiod | ||||||||||
| (VI)Others | ||||||||||
| IV.Balance | 1,709,867,3 | 7,963,346,1 | 150,907,65 | -350,0 | 184,866,86 | -243,1 | 9,114,060,7 |
| attheendofthecurrentperiod | 27.00 | 98.27 | 7.63 | 00,000.00 | 9.73 | 12,029.47 | 07.90 |
III.GeneralInformationoftheCompany
SuzhouDongshanPrecisionManufacturingCo.,Ltd.(hereinafterreferredtoasthe“Company”)isacompanylimitedbysharesconvertedfromSuzhouDongshanSheetMetalCo.,Ltd.,andregisteredwiththeSuzhouMunicipalAdministrationforIndustryandCommerceofJiangsuonDecember24,2007,andisheadquarteredinSuzhou,Jiangsu,holdsabusinesslicensewithunifiedsocialcreditcodeof91320500703719732P,andhasaregisteredcapitalofRMB1,831,607,532,dividedinto1,831,607,532shareswithaparvalueofRMB1eachshare,ofwhich,445,285,809sharesarenon-tradableA-shares,and1,386,321,723sharesaretradableA-shares.TheCompany’sshareshavebeenlistedandtradedontheShenzhenStockExchangesinceApril9,2010.TheCompanybelongstothecomputer,communicationandotherelectronicequipmentmanufacturingindustry,andisprimarilyengagedintheprovisionofcoredevicesforintelligentinterconnection,includingPCBs,LEDdisplaydevices,touchpanels,LCMs,andprecisioncomponents,etc.Thesefinancialstatementsarepublishedwiththeapprovalofthe26
th
meetingofthe6
thBoardofDirectorsoftheCompanyonAugust25,2025.IV.BasisforPreparationoftheFinancialStatements
1.Basisforpreparation
ThesefinancialstatementshavebeenpreparedontheassumptionthattheCompanyisagoingconcern.
2.Goingconcern
NoeventorfactmaycastsignificantdoubtsontheCompany’sabilitytoremainagoingconcernwithin12monthsaftertheendofthereportingperiod.
V.SignificantAccountingPoliciesandAccountingEstimatesNoteaboutspecificaccountingpoliciesandaccountingestimates:
TheCompanyhasestablishedspecificaccountingpoliciesandmadespecificaccountingestimateswithrespecttotheimpairmentoffinancialinstruments,inventories,depreciationoffixedassets,constructioninprogress,intangibleassets,recognitionofrevenuesandothertransactionsoreventsaccordingtoitsactualproductionandoperationcharacteristics.
1.StatementofcompliancewiththeAccountingStandardsforBusinessEnterprises(“CASBEs”)ThefinancialstatementspreparedbytheCompanyconformtotherequirementsoftheCASBEs,andtrulyandcompletelyreflecttheCompany’sfinancialcondition,operatingresults,cashflowsandotherrelatedinformation.
2.AccountingperiodTheCompany’saccountingyearisfromJanuary1toDecember31ofeachcalendaryear.
3.OperatingcycleTheCompanyhasarelativelyshortoperatingcycle,anddeterminestheliquidityofassetsandliabilitiesonthebasisof12months.
4.FunctionalcurrencyTheCompanyadoptsRMBasitsfunctionalcurrency,MFLEXadoptsUSDasitsfunctionalcurrency,andthesubsidiariesofMFLEX,Multekandothercompaniesadoptthecurrenciesofthemaineconomicenvironmentinwhichtheyoperateastheirfunctionalcurrencies.
5.Determinationandbasisforselectionofmaterialitycriteria?Applicable□N/A
| Item | Materialitycriteria |
| Significantaccountsreceivableassessedforimpairmentlossindividually | Individualaccountsreceivableaccountingforover0.5%ofthetotalassetsoftheCompanyarerecognizedassignificantaccountsreceivable. |
| Significantwrittenoffaccountsreceivable |
Individualwrittenoffaccountsreceivableaccountingforover
0.5%ofthetotalassetsoftheCompanyarerecognizedassignificantwrittenoffaccountsreceivable.
| Significantdividendsreceivableagedoveroneyear | Individualdividendsreceivableagedoveroneyearandaccountingforover0.5%ofthetotalassetsoftheCompanyarerecognizedassignificantdividendsreceivableagedoveroneyear. |
| Significantconstructionsinprogress | Individualconstructionsinprogressaccountingforover0.5%ofthetotalassetsoftheCompanyarerecognizedassignificantconstructionsinprogress. |
6.Accountingtreatmentofbusinesscombinationsinvolvingentitiesundercommoncontrolandnotundercommoncontrol
1.AccountingtreatmentofbusinesscombinationsinvolvingentitiesundercommoncontrolAssetsandliabilitiesacquiredfromabusinesscombinationbytheCompanyaremeasuredatthecarryingvalueoftheassetsandliabilitiesoftheacquireeintheconsolidatedfinancialstatementsoftheultimatecontrolleratthecombinationdate.The
differencebetweenthecarryingvalueoftheowners’equityoftheacquireeasstatedintheconsolidatedfinancialstatementsoftheultimatecontrollerandthecarryingvalueofthetotalconsiderationpaidortotalparvalueofthesharesissuedinconnectionwiththecombinationistreatedasanadjustmenttothecapitalreserve.Incasethecapitalreserveisnotsufficienttoabsorbthedifference,theremainingbalanceischargedagainsttheretainedearnings.
2.AccountingtreatmentofbusinesscombinationsinvolvingentitiesnotundercommoncontrolWherethecostofthecombinationexceedstheCompany’sshareofthefairvalueoftheacquiree’snetidentifiableassets,thedifferenceisrecognizedasgoodwillattheacquisitiondate.WherethecostofcombinationislowerthantheCompany’sshareofthefairvalueoftheacquiree’snetidentifiableassets,theCompanyreviewsthemeasurementofthefairvalueofeachoftheidentifiableassets,liabilitiesandcontingentliabilitiesacquiredfromtheacquireeandthecostofcombination,andifthecostofcombinationasreviewedisstilllowerthantheCompany’sshareofthefairvalueoftheacquiree’snetidentifiableassets,thedifferenceisrecognizedinprofitorloss.
7.Determinationofcontrolandmethodofpreparationofconsolidatedfinancialstatements
1.DeterminationofcontrolControlmeansthattheCompanyhaspowerovertheinvestee,exposureorrightstovariablereturnsfromitsinvolvementwiththeinvesteeandtheabilitytouseitspowertoaffecttheamountofthosereturns.
2.Methodofpreparationofconsolidatedfinancialstatements
(1)Theparentincludesallofitscontrolledsubsidiariesinitsconsolidatedfinancialstatements.TheconsolidatedfinancialstatementsarepreparedbytheparentinaccordancewithCASBE33“ConsolidatedFinancialStatements”,onthebasisoftherespectivefinancialstatementsoftheparentanditssubsidiaries,byreferencetootherrelevantdata.
8.Classificationofjointarrangementsandaccountingtreatmentofjointoperations
1.Jointarrangementsareclassifiedasjointoperationsandjointventures.
2.WhentheCompanyisapartytoajointoperation,theCompanyrecognizesthefollowingitemsrelatingtoitsinterestinthejointoperation:
(1)theassetsindividuallyheldbytheCompany,andtheCompany’sshareoftheassetsheldjointly;
(2)theliabilitiesincurredindividuallybytheCompany,andtheCompany’sshareoftheliabilitiesincurredjointly;
(3)theCompany’srevenuefromthesaleofitsshareoftheoutputofthejointoperation;
(4)theCompany’sshareofrevenuefromthesaleofassetsbythejointoperation;and
(5)theexpensesincurredindividuallybytheCompany,andtheCompany’sshareoftheexpensesincurredjointly.
9.RecognitionofcashandcashequivalentsForthepurposeofthecashflowstatement,cashcomprisescashonhandanddemanddeposits,andcashequivalentscompriseshort-term,highlyliquidinvestmentsthatarereadilyconvertibleintoknownamountsofcashandwhicharesubjecttoaninsignificantriskofchangesinvalue.
10.Translationofforeigncurrencytransactionsandforeigncurrencyfinancialstatements
1.TranslationofforeigncurrencytransactionsUponinitialrecognition,foreigncurrencytransactionsaretranslatedintoRMBusingtheapproximateexchangeratesofspotexchangeratesatthetransactiondates.Atthebalancesheetdate,monetaryitemsdenominatedinforeigncurrenciesaretranslatedintoRMBusingthespotexchangeratesthenprevailing.Exchangedifferencesarisingfromsuchtranslationsarerecognizedinprofitorloss,exceptforthoseattributabletoforeigncurrencyborrowingsthathavebeentakenoutspecificallyfortheacquisitionorconstructionofqualifyingassetsandaccruedinterest.Non-monetaryitemsdenominatedinforeigncurrenciesthataremeasuredathistoricalcostaretranslatedusingtheapproximateexchangeratesofspotexchangeratesatthetransactiondates,withoutadjustingtheamountsinRMB.Non-monetaryitemsdenominatedinforeigncurrenciesthataremeasuredatfairvaluearetranslatedusingthespotexchangeratesprevailingatthedateswhenthefairvaluewasdetermined,withtheexchangedifferencesarisingfromsuchtranslationsrecognizedinprofitorlossorothercomprehensiveincome.
2.TranslationofforeigncurrencyfinancialstatementsTheassetandliabilityitemsinthebalancesheetaretranslatedatthespotexchangeratesprevailingatthebalancesheetdate.Theowners’equityitemsotherthan“retainedprofits”aretranslatedatthespotexchangeratesprevailingatthetransactiondates.Theincomeandexpenseitemsintheincomestatementaretranslatedattheapproximateexchangeratesofspotexchangeratesatthetransactiondates.Thedifferencesarisingfromsuchtranslationofforeigncurrencyfinancialstatementsarerecognizedinothercomprehensiveincome.
11.Financialinstruments
1.ClassificationoffinancialassetsandfinancialliabilitiesUponinitialrecognition,financialassetsareclassifiedas:(i)financialassetsatamortizedcost;(ii)financialassetsatfairvaluethroughothercomprehensiveincome;and(iii)financialassetsatfairvaluethroughprofitorloss.
Uponinitialrecognition,financialliabilitiesareclassifiedas:(i)financialliabilitiesatfairvaluethroughprofitorloss;(ii)financialliabilitiesarisingasaresultofthetransferoffinancialassetsnotmeetingthecriteriaforderecognitionorcontinuinginvolvementinthefinancialassetstransferred;(iii)financialguaranteecontractsnotfallingunderitems(i)or(ii),andloancommitmentsnotfallingunderitem(i)andbelowmarketinterestrate;and(iv)financialliabilitiesatamortizedcost.
2.Recognition,measurementandderecognitionoffinancialassetsandfinancialliabilities
(1)Recognitionandinitialmeasurementoffinancialassetsandfinancialliabilities
WhentheCompanybecomesapartytoafinancialinstrumentcontract,afinancialassetorliabilityisrecognized.Financialassetsorliabilitiesareinitiallymeasuredatfairvalue.Transactioncostsrelatingtofinancialassetsandliabilitiesatfairvaluethroughprofitorlossaredirectlyrecognizedinprofitorloss.Transactioncostsrelatingtootherkindsoffinancialassetsorliabilitiesareincludedintheirinitiallyrecognizedamount.However,theaccountsreceivablethatdonotcontainanysignificantfinancingcomponentorarerecognizedbytheCompanywithouttakingintoconsiderationthesignificantfinancingcomponentsunderthecontractswithatermoflessthanoneyearuponinitialrecognitionareinitiallymeasuredattransactionpriceasdefinedinCASBE14“Revenue”.
(2)Subsequentmeasurementoffinancialassets
1)Financialassetsatamortizedcost
Financialassetsatamortizedcostaresubsequentlymeasuredatamortizedcostusingtheeffectiveinterestmethod.Gainsorlossesonfinancialassetsatamortizedcostthatdonotbelongtoanyhedgingrelationshiparerecognizedinprofitorlossuponderecognition,reclassification,amortizationusingtheeffectiveinterestmethod,orrecognitionofimpairment.
2)Investmentsindebtinstrumentsatfairvaluethroughothercomprehensiveincome
Investmentsindebtinstrumentsatfairvaluethroughothercomprehensiveincomearesubsequentlymeasuredatfairvalue.Interest,impairmentlossesorgainsandexchangegainsorlossescalculatedusingtheeffectiveinterestmethodarerecognizedinprofitorloss,whileothergainsorlossesarerecognizedinothercomprehensiveincome.Uponderecognition,theaggregategainsorlossespreviouslyrecognizedinothercomprehensiveincomearetransferredtoprofitorloss.
3)Investmentsinequityinstrumentsatfairvaluethroughothercomprehensiveincome
Investmentsinequityinstrumentsatfairvaluethroughothercomprehensiveincomearesubsequentlymeasuredatfairvalue.Dividendsreceived(otherthanthosereceivedasrecoveryofinvestmentcost)arerecognizedinprofitorloss,whileothergainsor
lossesarerecognizedinothercomprehensiveincome.Uponderecognition,theaggregategainsorlossespreviouslyrecognizedinothercomprehensiveincomearetransferredtoretainedearnings.
4)FinancialassetsatfairvaluethroughprofitorlossFinancialassetsatfairvaluethroughprofitorlossaresubsequentlymeasuredatfairvalue.Gainsorlossesthereon,includinginterestanddividendincome,arerecognizedinprofitorloss,exceptforthefinancialassetsbelongingtoanyhedgingrelationship.
(3)Subsequentmeasurementoffinancialliabilities
1)FinancialliabilitiesatfairvaluethroughprofitorlossFinancialliabilitiesatfairvaluethroughprofitorlossincludefinancialliabilitiesheldfortrading(includingderivativesclassifiedasfinancialliabilities),andfinancialliabilitiesdesignatedasatfairvaluethroughprofitorloss.Suchfinancialliabilitiesaresubsequentlymeasuredatfairvalue.ChangesinthefairvalueoffinancialliabilitiesdesignatedasatfairvaluethroughprofitorlossarisingoutofchangesintheCompany’screditriskarerecognizedinothercomprehensiveincome,unlesssuchtreatmentwillresultinorincreaseanyaccountingmismatchinprofitorloss.Othergainsorlossesonsuchfinancialliabilities,includinginterestexpensesandchangesinfairvaluenotarisingoutofchangesintheCompany’screditrisk,arerecognizedinprofitorloss,exceptforthefinancialliabilitiesbelongingtoanyhedgingrelationship.Uponderecognition,theaggregategainsorlossespreviouslyrecognizedinothercomprehensiveincomearetransferredtoretainedearnings.
2)Financialliabilitiesarisingasaresultofthetransferoffinancialassetsnotmeetingthecriteriaforderecognitionorcontinuinginvolvementinthefinancialassetstransferred
SuchfinancialliabilitiesaremeasuredinaccordancewithCASBE23“TransferofFinancialAssets”.
3)Financialguaranteecontractsnotfallingunderitems1)or2),andloancommitmentsnotfallingunderitem1)andbelowthemarketinterestrate
Suchfinancialliabilitiesaresubsequentlymeasuredatthehigherof①allowanceforimpairmentlossesdeterminedaccordingtothepolicyforimpairmentoffinancialinstruments;and②balanceoftheinitiallyrecognizedamountafterdeductionoftheaccumulatedamortizationdeterminedinaccordancewithCASBE14Revenue.
4)Financialliabilitiesatamortizedcost
Financialliabilitiesatamortizedcostaresubsequentlymeasuredatamortizedcostusingtheeffectiveinterestmethod.Gainsorlossesonfinancialliabilitiesatamortizedcostthatdonotbelongtoanyhedgingrelationshiparerecognizedinprofitorlossuponderecognitionoramortizationusingtheeffectiveinterestmethod.
(4)Derecognitionoffinancialassetsandfinancialliabilities
1)Financialassetsarederecognizedwhen:
①thecontractualrighttoreceivecashflowsfromthefinancialassetshasexpired;or
②thefinancialassetshavebeentransferredandsuchtransfermeetsthecriteriaforderecognitionoffinancialassetsassetforthinCASBE23“TransferofFinancialAssets”.
2)Afinancialliability(orpartthereof)isderecognizedwhenallorpartoftheoutstandingobligationsthereunderhavebeendischarged.
3.Determinationandmeasurementoffinancialassetstransferred
WhenafinancialassetoftheCompanyistransferred,ifsubstantiallyalltherisksandrewardsincidentaltotheownershipofthefinancialassethavebeentransferred,thefinancialassetisderecognized,andtherightsandobligationsincurredorretainedinsuchtransferareseparatelyrecognizedasassetsorliabilities(asthecasemaybe);iftheCompanyhasretainedsubstantiallyalltherisksandrewardsincidentaltotheownershipofthefinancialasset,theCompanycontinuestorecognizethefinancialassettransferred.IftheCompanyneithertransferrednorretainedasubstantialportionofallrisksandrewardsincidentaltotheownershipofthefinancialasset,then:(i)iftheCompanydoesnotretaincontroloverthefinancialasset,thefinancialassetisderecognized,andtherightsandobligationsincurredorretainedinsuchtransferareseparatelyrecognizedasassetsorliabilities(asthecasemaybe);or(ii)iftheCompanyretainscontroloverthefinancialasset,thefinancialassetcontinuestoberecognizedtotheextentoftheCompany’scontinuinginvolvementinthefinancialassettransferred,andacorrespondingliabilityisrecognized.
Ifanentiretransferofafinancialassetmeetsthecriteriaforderecognition,thedifferencebetween(i)thecarryingvalueofthefinancialassettransferredatthedateofderecognition;and(ii)thesumoftheconsiderationreceivedfromthetransferandtheportionofthecumulativeamountofchangesinfairvaluedirectlyrecordedasothercomprehensiveincomeoriginallythatcorrespondstothepartderecognized(wherethefinancialassettransferredisaninvestmentindebtinstrumentsatfairvaluethroughothercomprehensiveincome)isrecognizedinprofitorloss.Ifpartofafinancialassetistransferredandtheparttransferredentirelymeetsthecriteriaforderecognition,thetotalcarryingvalueofthefinancialassetimmediatelypriortothetransferisallocatedbetweenthepartderecognizedandthepartnotderecognizedinproportiontotheirrelativefairvalueatthe
dateoftransfer,andthedifferencebetween(i)thecarryingvalueofthepartderecognized;and(ii)thesumoftheconsiderationreceivedfromthetransferofthepartderecognizedandtheportionofthecumulativeamountofchangesinfairvaluedirectlyrecordedasothercomprehensiveincomeoriginallythatcorrespondstothepartderecognized(wherethefinancialassettransferredisaninvestmentindebtinstrumentsatfairvaluethroughothercomprehensiveincome)isrecognizedinprofitorloss.
4.DeterminationoffairvalueoffinancialassetsandfinancialliabilitiesTheCompanyadoptsthevaluationtechniquesapplicabletothecurrentsituationsandwithsufficientdataavailableandsupportofotherinformation,determinesthefairvalueoffinancialassetsandfinancialliabilities.TheCompanyclassifiestheinputsusedbythevaluationtechniquesinthefollowinglevelsandusestheminturn:
(1)Level1inputs:quotedmarketprice(unadjusted)inanactivemarketforanidenticalassetorliabilityavailableatthedateofmeasurement;
(2)Level2inputs:inputsotherthaninputsincludedwithinLevel1thatareobservabledirectlyorindirectly.Thiscategoryincludesquotedpricesforsimilarassetsorliabilitiesinactivemarkets,quotedpricesforidenticalorsimilarassetsorliabilitiesininactivemarkets,observableinputsotherthanquotedprices(suchasinterestrateandyieldcurvesobservableduringregularintervalsofquotation),andinputsvalidatedbythemarket;
(3)Level3inputs:inputsthatareunobservable.Thiscategoryincludesinterestrateorstockvolatilitythatcannotbedirectlyobservedorvalidatedbyobservablemarketdata,futurecashflowsfromretirementobligationsincurredinbusinesscombinations,andfinancialforecastsmadeusingowndata.
5.Impairmentoffinancialinstruments
TheCompanydeterminestheimpairmentandassessesallowanceforimpairmentoffinancialassetsatamortizedcost,investmentsindebtinstrumentsatfairvaluethroughothercomprehensiveincome,contractassets,leasepaymentsreceivable,loancommitmentsotherthanfinancialliabilitiesdesignatedatfairvaluethroughprofitorloss,andfinancialguaranteecontractsotherthanfinancialliabilitiesdesignatedatfairvaluethroughprofitorlossandfinancialliabilitiesarisingasaresultofthetransferoffinancialassetsnotmeetingthecriteriaforderecognitionorcontinuinginvolvementinthefinancialassetstransferred,onthebasisofexpectedcreditlosses.
Expectedcreditlossistheweightedaverageofcreditlossesonfinancialinstrumentstakingintoaccountthepossibilityofdefault.Creditlossisthepresentvalueofthedifferencebetweenallcontractualcashflowsreceivableunderthecontractandestimatedfuturecashflowsdiscountedattheoriginaleffectiveinterestrate,i.e.thepresentvalueofallcashshortages,wherethe
Company’spurchasedororiginatedfinancialassetsthathavebecomecreditimpairedarediscountedattheircredit-adjustedeffectiveinterestrate.
Withrespecttopurchasedororiginatedfinancialassetsthathavebecomecreditimpaired,atthebalancesheetdate,theCompanyrecognizesanimpairmentlossequaltothecumulativeamountofchangesinlifetimeexpectedcreditlossessinceinitialrecognition.
Withrespecttoleasepaymentsreceivable,accountsreceivableandcontractassetsarisingfromtransactionswithinthemeaningofCASBE14“Revenue”,theCompanyusesthesimplifiedmeasurementmethodandrecognizesanimpairmentlossequaltothelifetimeexpectedcreditlosses.
Withrespecttofinancialassetsnotusingthemeasurementmethodsstatedabove,ateachbalancesheetdate,theCompanyassesseswhetherthecreditriskhasincreasedsignificantlysinceinitialrecognition,andrecognizesanimpairmentlossequaltothelifetimeexpectedcreditlossesifthecreditriskhasincreasedsignificantlysinceinitialrecognition,ortotheexpectedcreditlosseswithinthenext12monthsifthecreditriskhasnotincreasedsignificantlysinceinitialrecognition.
TheCompanyusesreasonableandsupportableinformation,includingforward-lookinginformation,andcomparesthepossibilityofdefaultatthebalancesheetdatewiththepossibilityofdefaultuponinitialrecognition,todeterminewhetherthecreditriskofthefinancialinstrumentshasincreasedsignificantlysinceinitialrecognition.
Atthebalancesheetdate,iftheCompanydeterminesthatafinancialinstrumenthaslowcreditrisk,theCompanyassumesthatitscreditriskhasnotincreasedsignificantlysinceinitialrecognition.
TheCompanyassessesexpectedcreditriskandmeasuresexpectedcreditlossesoffinancialinstrumentsindividuallyorcollectively.Whenassessingthefinancialinstrumentscollectively,theCompanyincludesthefinancialinstrumentsindifferentgroupsaccordingtotheircommonriskcharacteristics.
Ateachbalancesheetdate,theCompanyre-assessestheexpectedcreditlosses,withtheamountofincreaseinorreversalofimpairmentlossrecognizedinprofitorlossasimpairmentlossesorgains.Withrespecttoafinancialassetatamortizedcost,itscarryingvaluerecordedinthebalancesheetiswrittenoffagainsttheimpairmentloss.Withrespecttoaninvestmentindebtinstrumentsatfairvaluethroughothercomprehensiveincome,theCompanyrecognizestheimpairmentlossinothercomprehensiveincome,withoutreducingitscarryingvalue.
6.Offsettingoffinancialassetsandfinancialliabilities
Financialassetsandfinancialliabilitiesarepresentedinthebalancesheetseparately,withoutoffsettingeachother.Financialassetsandfinancialliabilitiesareoffsetandpresentedonanetbasisinthebalancesheetonlyif:(i)theCompanyhasacurrentlyenforceablelegalrighttooffsettherecognizedamounts;and(ii)theCompanyhasanintentiontosettleonanetbasis,orrealizetheassetsandsettletheliabilitiessimultaneously.
Withrespecttothetransferoffinancialassetsnotmeetingthecriteriaforderecognition,theCompanydoesnotoffsetthefinancialassetstransferredagainsttherelevantliabilities.
12.Notesreceivable
13.Accountsreceivable
14.Accountsreceivablefinancing
Determinationandrecognitionofexpectedcreditlossesonaccountsreceivable
1.Accountsreceivableforwhichtheallowanceforexpectedcreditlossesisrecognizedcollectivelyaccordingtocreditriskcharacteristics
| Grouptype | Basisforgrouping | Methodformeasuringexpectedcreditlosses |
| Banker’sacceptancebillsreceivable | Typeofbills | Byreferencetohistoricalcreditlossexperience,andtakingintoaccountthecurrentsituationsandpredictionoffutureeconomicconditions,calculatetheexpectedcreditlossesaccordingtothedefaultriskexposureandrateoflifetimeexpectedcreditloss. |
| Commercialacceptancebillsreceivable | ||
| Accountsreceivable–aginggroup | Age | Byreferencetohistoricalcreditlossexperience,andtakingintoaccountthecurrentsituationsandpredictionoffutureeconomicconditions,prepareacomparisontableoftheageofaccountsreceivableandrateofexpectedcreditloss,andcalculatetheexpectedcreditlosses. |
| Otherreceivables–aginggroup | Age | Byreferencetohistoricalcreditlossexperience,andtakingintoaccountthecurrentsituationsandpredictionoffutureeconomicconditions,prepareacomparisontableoftheageofotherreceivablesandrateofexpectedcreditloss,andcalculatetheexpectedcreditlosses. |
| Long-termreceivables–groupofsecuritydeposits | Natureofaccounts | Byreferencetohistoricalcreditlossexperience,andtakingintoaccountthecurrentsituationsandpredictionoffutureeconomicconditions,calculatetheexpectedcreditlossesaccordingtothedefaultriskexposureandrateoflifetimeexpectedcreditloss. |
2.Comparisontableoftheageandrateofexpectedcreditloss
| Age | Rateofexpectedcreditlossonaccountsreceivable(%) | Rateofexpectedcreditlossonotheraccountsreceivable(%) |
| Within6months(inclusive,thesamebelow) | 0.5 | 5 |
| 7-12months | 5 | 5 |
| 1-2years | 20 | 10 |
| 2-3years | 60 | 50 |
| Over3years | 100 | 100 |
Theageofanaccountreceivable,otheraccountreceivableorcommercialacceptancebillreceivableiscalculatedfromthemonthitactuallyoccurred.
3.Determinationofaccountsreceivableforwhichtheallowanceforexpectedcreditlossesisrecognizedindividually
Withrespecttotheaccountsreceivablewhosecreditriskissignificantlydifferentfromthatoftherelevantgroup,anallowanceforexpectedcreditlossesisrecognizedindividually.
15.Otherreceivables
Methodsforrecognitionandaccountingofexpectedcreditlossesofotherreceivables
16.Contractassets
17.Inventories
1.Classificationofinventories
Inventoriesincludefinishedproductsorgoodsheldforsaleintheordinarycourseofbusiness,workinprogressandmaterialsandgoodsconsumedintheprocessofproductionorrenderingofservices.
2.Valuationofinventoriesdispatched
Thevalueofinventoriesdispatchedisdeterminedusingtheweightedaveragemethodattheendofthemonthinwhichtheyweredispatched.
3.Inventorysystem
Theperpetualinventorysystemisadopted.
4.Amortizationoflow-valueconsumablesandpackingmaterials
(1)Low-valueconsumables
One-offamortizationmethodshallapply.
(2)Packingmaterials
One-offamortizationmethodshallapply.
5.Inventoryprovision
Atthebalancesheetdate,inventoriesaremeasuredatthelowerofcostandnetrealizablevalue.Anamountequaltothecostofaninventoryinexcessofitsnetrealizablevalueisrecognizedasaninventoryprovision.Thenetrealizablevalueofinventorieshelddirectlyforsaleistheestimatedsellingpriceofsuchinventorieslesstheestimatedsellingexpensesandrelatedtaxesintheordinarycourseofbusiness.Thenetrealizablevalueofinventoriestobefurtherprocessedistheestimatedsellingpriceoffinishedgoodslesstheestimatedcostofcompletion,estimatedsellingexpensesandrelatedtaxesintheordinarycourseofbusiness.Atthebalancesheetdate,ifpartofaninventoryhasacontractpricewhiletheremainingpartthereofdoesnothaveacontractprice,thenetrealizablevalueisdeterminedseparately,whichiscomparedwithitscost,todeterminetheamountoftheinventoryprovisionrecognizedorreversed(asapplicable).
18.Assetsheldforsale
19.Debtinvestments
20.Otherdebtinvestments
21.Long-termreceivable
22.Long-termequityinvestments
1.DeterminationofjointcontrolandsignificantinfluenceJointcontrolisthecontractuallyagreedsharingofcontrolofanarrangement,whichexistsonlywhendecisionsabouttherelevantactivitiesrequireunanimousconsentofthepartiessharingcontrol.Significantinfluenceisthepowertoparticipateinthefinancialandoperatingpolicy-makingofanentity,butisnotcontrolorjointcontroloverthosepolicies.
2.Determinationofinvestmentcost
(1)Foranequityinvestmentacquiredthroughabusinesscombinationinvolvingentitiesundercommoncontrol,iftheacquirerpaysconsiderationforthebusinesscombinationbycash,transferofnon-monetaryassets,assumptionofliabilitiesorissuanceofequitysecurities,theinitialinvestmentcostofthelong-termequityinvestmentistheCompany’sshareofthecarryingvalueoftheowners’equityoftheacquireeintheconsolidatedfinancialstatementsoftheultimatecontrolleratthecombinationdate.Thedifferencebetween:(i)theinitialinvestmentcostofthelong-termequityinvestment;and(ii)thecarryingvalueoftheconsiderationpaidforthecombinationorthetotalparvalueofthesharesissued(asapplicable)istreatedasanadjustmenttothecapitalreserve.Incasethecapitalreserveisnotsufficienttoabsorbthedifference,theremainingbalanceischargedagainsttheretainedearnings.
Ifabusinesscombinationiseffectedthroughmultipletransactionsbystepsthatconstituteapackagedeal,theCompanyaccountsforsuchtransactionsasonedealtogaincontrol.Ifsuchtransactionsdonotconstituteapackagedeal,theinitialinvestmentcostistheCompany’sshareofthecarryingvalueoftheowners’equityoftheacquireeintheconsolidatedfinancialstatementsoftheultimatecontrolleratthecombinationdate;andthedifferencebetween:(i)theinitialinvestmentcostofthelong-termequityinvestmentatthecombinationdate;and(ii)thesumofthecarryingvalueoflong-termequityinvestmentbeforethecombinationandthecarryingvalueoftheconsiderationpaidforacquisitionoftheadditionalsharesatthecombinationdateistreatedasanadjustmenttothecapitalreserve.Incasethecapitalreserveisnotsufficienttoabsorbthedifference,theremainingbalanceischargedagainsttheretainedearnings.
(2)Foranequityinvestmentacquiredthroughabusinesscombinationinvolvingentitiesnotundercommoncontrol,theinitialinvestmentcostisthefairvalueoftheaggregateconsiderationpaidatthedateofacquisition.Withrespecttoalong-termequityinvestmentacquiredthroughabusinesscombinationinvolvingentitiesundercommoncontrolthatiseffectedthroughmultipletransactionsinsteps,theaccountingthereofinthestandalonefinancialstatementsisdifferentfromthatintheconsolidatedfinancialstatementsasstatedbelow:
1)Inthestandalonefinancialstatements,thesumofthecarryingvalueoftheequityinvestmentoriginallyheldintheacquireeandtheadditionalinvestmentcostincurredisrecordedastheinitialinvestmentcostoftheequityinvestmentchangedintothecostmethod.
2)Intheconsolidatedfinancialstatements,ifthetransactionsconstituteapackagedeal,theCompanyaccountsforsuchtransactionsasonedealtogaincontrol.Ifsuchtransactionsdonotconstituteapackagedeal,theequityheldintheacquireepriortotheacquisitiondateisremeasuredatitsfairvalueattheacquisitiondate,withthedifferencebetweenitsfairvalueandcarryingvaluerecognizedasaninvestmentincomeforthecurrentperiod;iftheequityheldintheacquireepriortotheacquisitiondateinvolvesothercomprehensiveincomeundertheequitymethod,suchothercomprehensiveincomeistransferredtotheincomefortheperiodinwhichtheacquisitiondatefalls,exceptforothercomprehensiveincomearisingfromremeasurementofchangesinnetliabilitiesornetassetsofdefinedbenefitplans.
(3)Foranequityinvestmentnotacquiredthroughbusinesscombination,theinitialinvestmentcostisthepurchasepriceactuallypaidifitisacquiredbycash,orthefairvalueoftheequitysecuritiesissuedifitisacquiredthroughissuanceofequitysecurities,orinaccordancewithCASBE12“DebtRestructuring”ifitisacquiredthroughdebtrestructuring,orCASBE7“ExchangeofNon-monetaryAssets”ifitisacquiredthroughexchangeofnon-monetaryassets.
3.Subsequentmeasurementandrecognitionofprofitorloss
Long-termequityinvestmentsininvesteesoverwhichtheCompanyexercisescontrolareaccountedforusingthecostmethod.Long-termequityinvestmentsinassociatesandjointventuresareaccountedforusingtheequitymethod.
4.Disposalofinvestmentinasubsidiarythroughmultipletransactionsbystepsuntillossofcontroloverthesubsidiary
(1)Criteriafordeterminingapackagedeal
WheretheCompanylosescontroloverasubsidiaryduetothedisposalofequityinvestmentinthesubsidiarythroughmultipletransactionsbysteps,theCompanydetermineswhethersuchtransactionsconstituteapackagedealtakingintoaccount
thetransactioncontractterms,considerationreceived,thetransfereeoftheequitysold,methodofdisposal,timeofdisposalandotherinformationinrespectofeachstep.Iftheterms,conditionsandfinancialeffectofsuchtransactionsfallunderoneormoreofthecircumstancessetforthbelow,suchtransactionsareaccountedforasapackagedealgenerally:
1)suchtransactionsareconcludedsimultaneouslyorinconsiderationoftheirmutualeffect;
2)suchtransactionswillachieveacompletebusinessresultonlyasawhole;
3)theoccurrenceofatransactiondependsontheoccurrenceofatleastanothertransaction;and/or
4)atransactionmaybeuneconomicalwhenconsideredindividually,butiseconomicalwhenconsideredtogetherwithothertransactions.
(2)Accountingtreatmentoftransactionsnotconstitutingapackagedeal
1)Standalonefinancialstatements
Thedifferencebetweenthecarryingvalueoftheequitydisposedofandthedisposalproceedsactuallyreceivedisrecognizedinprofitorloss.IftheremainingequityempowerstheCompanytoexercisesignificantinfluenceorjointcontrolovertheinvestee,theremainingequityisaccountedforusingtheequitymethod;iftheremainingequitydoesnotempowertheCompanytoexercisecontrol,jointcontrolorsignificantinfluenceovertheinvestee,theremainingequityisaccountedforinaccordancewithCASBE22“RecognitionandMeasurementofFinancialInstruments”.
2)Consolidatedfinancialstatements
Beforethelossofcontrol,thedifferencebetweenthedisposalproceedsandtheCompany’sshareofthenetassetsofthesubsidiarycorrespondingtothelong-termequityinvestmentdisposedofascalculatedcontinuouslyfromtheacquisitiondateorcombinationdateistreatedasanadjustmenttothecapitalreserve(capitalpremium).Incasethecapitalpremiumisnotsufficienttoabsorbthedifference,theremainingbalanceischargedagainsttheretainedearnings.
Uponlossofcontrol,theremainingequityisremeasuredatitsfairvalueatthedateoflossofcontrol.Thesumoftheconsiderationreceivedfromthedisposaloftheequityandthefairvalueoftheremainingequity,netoftheCompany’sshareofthenetassetsofthesubsidiaryascalculatedcontinuouslyfromtheacquisitiondateaccordingtotheoriginalshareholdingratio,isincludedintheinvestmentincomefortheperiodduringwhichthecontrolwaslost,andchargedagainstgoodwill.Other
comprehensiveincomerelatedtotheequityinvestmentinthesubsidiaryistransferredtotheinvestmentincomefortheperiodduringwhichthecontrolwaslost.
(3)Accountingtreatmentoftransactionsconstitutingapackagedeal
1)StandalonefinancialstatementsTheCompanyaccountsforsuchtransactionsasonedealtodisposeofandlosecontroloverthesubsidiary;however,inthestandalonefinancialstatements,thedifferencebetweentheproceedsfromeachdisposalbeforelossofcontrolandthecarryingvalueofthelong-termequityinvestmentcorrespondingtotheequitydisposedofisrecognizedinothercomprehensiveincome,whichiswhollytransferredtoprofitorlossintheperiodduringwhichthecontrolwaslost.
2)ConsolidatedfinancialstatementsTheCompanyaccountsforsuchtransactionsasonedealtodisposeofandlosecontroloverthesubsidiary;however,intheconsolidatedfinancialstatements,thedifferencebetweentheproceedsfromeachdisposalbeforelossofcontrolandtheCompany’sshareofthenetassetsofthesubsidiarycorrespondingtotheequitydisposedofisrecognizedinothercomprehensiveincome,whichiswhollytransferredtoprofitorlossintheperiodduringwhichthecontrolwaslost.
23.Investmentproperty
MeasurementmodelforinvestmentpropertyMeasuredatcostMethodofdepreciationoramortization
1.Investmentpropertiesincludelanduserightsleasedoutorheldforappreciationandbuildingsandstructuresleasedout.
2.Aninvestmentpropertyismeasuredinitiallyatcost,andsubsequentlyusingthecostmodel,anddepreciatedoramortizedusingthesamemethodasfixedassetsandintangibleassets.
24.Fixedassets
(1)CriteriaforrecognitionFixedassetsaretangibleassetsheldfortheproductionofgoods,renderingofservices,leaseoroperationandmanagementwithaservicelifeofmorethanoneaccountingyear.AfixedassetisrecognizediftheeconomicbenefitsrelatingtoitareverylikelytoflowtotheCompanyanditscostcanbereliablymeasured.
(2)Depreciation
| Type | Methodofdepreciation | Estimatedusefullife(years) | Rateofresidualvalue(%) | Annualrateofdepreciation |
| Buildingsandstructures | Straightlinemethod | 20-30 | 5 | 3.17-4.75 |
| Machineryandequipment | Straightlinemethod | 5-10 | 5 | 9.50-19.00 |
| Transportationequipment | Straightlinemethod | 5 | 5 | 19.00 |
| Officeequipmentandothers | Straightlinemethod | 5 | 5 | 19.00 |
25.Constructioninprogress
1.AconstructioninprogressisrecognizediftheeconomicbenefitsrelatingtoitareverylikelytoflowtotheCompanyanditscostcanbereliablymeasured.Constructioninprogressismeasuredattheactualcostincurredbeforeitiscompletedandreadyfortheintendeduse.
2.Whenaconstructioninprogressisreadyforintendeduse,itistransferredtofixedassetsatitsactualconstructioncost.Aconstructioninprogressthatisreadyforintendedusebutthefinalsettlementofwhichhasnotyetbeencompletedistransferredtofixedassetsatestimatedvaluefirst,andafterthecompletionofthefinalsettlement,theestimatedvalueisadjustedaccordingtotheactualcost,withoutadjustingtheaccumulateddepreciation.
| Category | Criteriaandtimeforthetransferofconstructioninprogresstofixedassets |
| Machineryandequipment | Meetthedesignrequirementsoragreedstandardsafterinstallationandcommissioning |
| Buildingsandstructures | Meetthebuildingcompletionacceptancecriteria |
26.Borrowingcosts
1.Recognitionofcapitalizationofborrowingcosts
Borrowingcoststhataredirectlyattributabletotheacquisition,constructionorproductionofaqualifyingassetarecapitalizedaspartofthecostoftheassetwhentheymeettheconditionforcapitalization.Otherborrowingcostsareexpensedwhentheyareincurredandrecognizedinprofitorloss.
2.Periodofcapitalizationofborrowingcosts
(1)Aborrowingcostiscapitalizedwhenallofthefollowingconditionsaresatisfied:(i)theexpendituresontheassethavealreadybeenincurred;(ii)theborrowingcosthasalreadybeenincurred;and(iii)theacquisition,constructionorproductionactivitiesnecessarytopreparetheassetforitsintendeduseorsalehavealreadycommenced.
(2)Capitalizationofborrowingcostsissuspendedduringtheperiodofabnormalinterruptionofacquisition,constructionorproductionofaqualifyingassetwhichlastsformorethanthreeconsecutivemonths.Theborrowingcostsincurredduringtheperiodofsuspensionarerecognizedasexpensesforthecurrentperioduntiltheresumptionoftheacquisition,constructionorproductionactivities.
(3)Capitalizationofborrowingcostsceaseswhenaqualifyingassetacquired,constructedorproducedgetsreadyforitsintendeduseorsale.
3.Rateandamountofcapitalizationofborrowingcosts
Forborrowingsobtainedspeciallyfortheacquisition,constructionorproductionofaqualifyingasset,theamountofcapitalizationoftheborrowingcostsisthecostoftheborrowingsactuallyincurredinthecurrentperiod(includingamortizeddiscountorpremiumdeterminedusingtheeffectiveinterestmethod)lesstheinterestincomefromthepartofborrowingsthathasnotyetbeenutilizedandisdepositedinbanksorinvestmentincomefromtemporaryinvestmentoftheborrowings.Forgeneralborrowingsoccupiedfortheacquisition,constructionorproductionofaqualifyingasset,theamountofborrowingcostseligibleforcapitalizationisdeterminedbymultiplyingtheweightedaverageoftheexcessofcumulativeexpendituresontheassetoverthespecial-purposeborrowingsbythecapitalizationrateofthegeneralborrowingsoccupied.
27.Biologicalassets
28.Oilandgasassets
29.Intangibleassets
(1)Servicelifeandbasisfordeterminationofservicelife,estimates,methodofamortizationorreviewprocedure
1.Intangibleassets,includinglanduserights,software,patentsandtrademarks,areinitiallymeasuredatcost.
2.Anintangibleassetwithafiniteservicelifeisamortizedinasystematicandreasonablemanneraccordingtothepatterninwhichtheeconomicbenefitsrelatedtotheintangibleassetareexpectedtoberealized,orifthatpatterncannotbedeterminedreliably,usingthestraightlinemethodasfollows:
| Item | Usefullifeandbasisfordeterminationofusefullife(years) | Methodofamortization |
| Landuseright | 50 | Straightlinemethod |
| Developmentexpenses | 5 | Straightlinemethod |
| Software | 3 | Straightlinemethod |
| Trademarksandpatents | 10 | Straightlinemethod |
| Item | Usefullifeandbasisfordeterminationofusefullife(years) | Methodofamortization |
| Customerresources | 10 | Straightlinemethod |
Intangibleassetswithindefiniteservicelivesarenotamortized,andtheirservicelivesarereviewedateachreportingperiod.
(2)Scopeandaccountingtreatmentofresearchanddevelopment(R&D)expenses
3.ScopeofR&Dexpenses
(1)LaborcostsLaborcostscomprisethewages,salaries,basicpensioninsurance,basicmedicalinsurance,unemploymentinsurance,worker’scompensationinsurance,maternityinsuranceandhousingprovidentfundcontributionspaidtoorfortheR&Dpersonnel,andservicefeesoftheoutsourcedR&Dpersonnel.WithrespecttotheR&DpersonnelservinganumberofR&Dprojectsconcurrently,theirlaborcostsareallocatedtotherelevantR&Dprojectsonapro-ratabasisaccordingtotherecordofworkinghoursspentbytheminsuchR&Dprojectsasprovidedbytheadministrativedepartment.WithrespecttotheCompany’sownR&DpersonnelandoutsourcedR&DpersonnelwhoaredirectlyengagedinR&Dactivitiesandalsoengagedinnon-R&Dactivities,theirlaborcostsactuallyincurredareallocatedbetweenR&Dexpensesandproductionandbusinessexpensesonapro-ratabasisinproportiontothepercentageofworkinghoursspentbythemondifferentpostsasrecorded,orotherwisereasonably.
(2)DirectcostsDirectcostsrefertothecostsactuallyincurredbytheCompanyinconnectionwithR&Dactivities,including(i)costsofmaterials,fuelsandpowersdirectlyconsumed;(ii)costsofdevelopmentandfabricationofmoldsandprocessequipmentusedinpilottrialsandtrialproduction,purchasingcostsofsamples,prototypesandgeneraltestingmethodsnotclassifiedasfixedassets,andinspectioncostsoftrialproduces;and(iii)operation,maintenance,calibration,inspection,testing,repairandothercostsofinstrumentsandequipmentusedinR&Dactivities.
(3)Depreciationexpensesandlong-termdeferredexpensesDepreciationexpensesrefertothedepreciationexpensesofinstruments,equipmentandbuildingsusedinR&Dactivities.Withrespecttotheinstruments,equipmentandbuildingsusedinbothR&Dactivitiesandnon-R&Dactivities,thedepreciationexpensesactuallyincurredareallocatedbetweenR&Dexpensesandproductionandbusinessexpensesaccordingtotheactualworkinghoursandareausedasrecorded,orotherwisereasonably.
Long-termdeferredexpensesrefertothelong-termdeferredexpensesincurredinthealteration,modification,renovationandrepairofR&Dfacilities,whicharerecordedaccordingtotheamountsactuallyspent,andamortizedonastraightlinebasisoverthedefinedperiod.
(4)Amortizationexpensesofintangibleassets
Amortizationexpensesofintangibleassetsrefertotheamortizationexpensesofsoftware,intellectualproperties,andnon-patentedtechnologies(know-how,licenses,designs,computingmethods,etc.)usedinR&Dactivities.
(5)Designcosts
Designcostsrefertothecostsincurredinthedesignofprocesses,technicalspecifications,rulesofoperationandoperatingfeaturesinconnectionwiththeconcept,developmentandmanufacturingofnewproductsandnewprocesses,includingthecostsofcreativedesignactivitiesconductedforthepurposeofdevelopinginnovative,creativeandbreakthroughproducts.
(6)Equipmentcommissioningcostsandtestingcosts
EquipmentcommissioningcostsrefertothecostsincurredduringtheequipmentpreparationphaseofR&Dactivities,includingthecostsofdevelopingspecial-purposeproductionmachines,changingproductionandqualitycontrolprocedures,developingnewapproachesandstandards,etc.
Thecostsincurredforgeneralequipmentpreparationandindustrialengineeringinconnectionwithlarge-scalemassandcommercialproductionareexcludedfromthescopeofaggregation.
Testingcostsincludeclinicaltrialcostsforthedevelopmentofnewdrugs,fieldtrialcostsforexplorationanddevelopmenttechnologies,fieldexperimentcosts,etc.
(7)OutsourcedR&Dexpenses
OutsourcedR&DexpensesrefertotheexpensesofR&DactivitiesthattheCompanyengagesexternalentitiesorindividualsathomeorabroadtoconduct,providedthattheresultsofsuchR&DactivitieswillbeownedbytheCompanyandsuchR&DactivitiesarecloselyrelatedtotheprimarybusinessoftheCompany.
(8)Otherexpenses
OtherexpensesrefertotheexpensesthatarenotsetforthaboveanddirectlyrelatedtoR&Dactivities,includingtheexpensesoftechnicaldocumentsanddata,materialtranslation,advisorsandconsultants,highandnewtechnologyR&Dinsurance,retrieval,verification,evaluation,appraisalandacceptanceinspectionofR&Dachievements,application,registrationandagencyserviceinrespectofintellectualproperties,meetings,travel,communication,etc.
4.ExpendituresonaninternalR&Dprojectattheresearchphasearerecognizedinprofitorlossintheperiodinwhichtheyareincurred.ExpendituresonaninternalR&Dprojectatthedevelopmentphasearerecognizedasanintangibleassetif:(i)itis
technicallyfeasibletocompletetheintangibleassetsothatitwillbeavailableforuseofsale;(ii)itisintendedtocompletetheintangibleassetsothatitwillbeavailableforuseofsale;(iii)thepatterninwhichtheintangibleassetwillgenerateeconomicbenefitscandemonstratetheexistenceofamarketfortheoutputoftheintangibleassetortheintangibleassetitself,orifitistobeusedinternally,theusefulnessoftheintangibleasset;(iv)therearesufficienttechnical,financialandotherresourcesavailabletocompletethedevelopmentactivitiesandtouseorselltheintangibleasset;and(v)theexpendituresattributabletothedevelopmentoftheintangibleassetcanbereliablymeasured.
30.Impairmentoflong-termassetsWithrespecttolong-termequityinvestments,investmentpropertiesatcost,fixedassets,constructioninprogress,productivebiologicalassetsatcost,oilandgasassets,right-of-useassets,intangibleassetswithafiniteusefullifeandotherlong-termassets,ifthere’sanindicationofimpairmentatthebalancesheetdate,theCompanyassessestheirrecoverableamount.Goodwillarisingfrombusinesscombinationsandintangibleassetswithaninfiniteusefullifearetestedforimpairmenteveryyearregardlessofwhetherthere’sanindicationofimpairment.Goodwillistestedforimpairmenttogetherwiththerelevantgroupsofassetsorcombinationsofgroupsofassets.
Iftherecoverableamountofalong-termassetislessthanitscarryingvalue,thedifferenceismeasuredasimpairmentlossontheassetandrecognizedinprofitorloss.
31.Long-termdeferredexpenses
Long-termdeferredexpensesareexpensesthathavealreadybeenincurredbutshouldbeamortizedoveraperiodofmorethanoneyear.Long-termdeferredexpensesarestatedastheamountactuallyincurred,andequallyamortizedoverthebenefitperiodorestablishedperiod.Ifanitemoflong-termdeferredexpenseswillnotbenefitthesubsequentperiods,theremainingunamortizedbalanceoftheitemiswhollytransferredtoprofitorloss.
32.Contractliabilities
33.Employeebenefits
(1)Accountingtreatmentofshort-termemployeebenefits
Theshort-termemployeebenefitsactuallyincurredarerecognizedasliabilitiesintheaccountingperiodduringwhichemployeeservicesarerendered,andincludedinprofitorlossorthecostofrelatedassets.
(2)Accountingtreatmentofpost-employmentbenefits
(1)Intheaccountingperiodduringwhichemployeeservicesarerendered,theamountcontributableascalculatedaccordingtothedefinedcontributionplanisrecognizedasliabilitiesandincludedinprofitorlossorthecostsofrelatedassets.
(2)Theaccountingtreatmentofadefinedbenefitplangenerallyinvolvesthefollowingsteps:
1)Accordingtotheprojectedunitcreditmethod,useunbiasedandconsistentactuarialassumptionstoestimatedemographicvariablesandfinancialvariables,measuretheobligationarisingfromthedefinedbenefitplananddeterminetheperiodtowhichtherelevantobligationbelongs.Meanwhile,discounttheobligationarisingfromthedefinedbenefitplan,inordertodeterminethepresentvalueofthebenefitplanobligationandthecurrentservicecost;
2)Ifthedefinedbenefitplanhasassets,thedeficitorsurplusresultingafterreducingthepresentvalueofthedefinedbenefitobligationbythefairvalueofthedefinedbenefitplanisrecognizedasanetliabilityorassetofthedefinedbenefitplan.Ifthedefinedbenefitplanhasasurplus,thenetassetsofthedefinedbenefitplanaremeasuredatthelowerofsurplusinthedefinedbenefitplanandassetceiling;
3)Attheendofthecurrentperiod,thecostofemployeebenefitsarisingfromthedefinedbenefitplanisrecordedasservicecost,netinterestonthenetliabilitiesornetassetsofthedefinedbenefitplan,andchangesarisingfromremeasurementofthenetliabilitiesornetassetsofthedefinedbenefitplan,wheretheservicecostandthenetinterestonthenetliabilitiesornetassetsofthedefinedbenefitplanareincludedinprofitorlossorthecostofrelatedassets,andthechangesarisingfromremeasurementofthenetliabilitiesornetassetsofthedefinedbenefitplanareincludedinothercomprehensiveincome,whichwillnotbereversedtoprofitorlossinsubsequentperiods,butmaybetransferredwithinthescopeofequity.
(3)Accountingtreatmentofterminationbenefits
WhentheCompanycannolongerwithdrawtheofferofterminationbenefitsasaresultofterminationofemploymentorredundancy,orrecognizestherestructuringcostsorexpensesrelatingtopaymentofterminationbenefits,whichevertheearlier,theemployeebenefitliabilitiesarisingfromrecognitionofterminationbenefitsarerecognizedinprofitorloss.
(4)Accountingtreatmentofotherlong-termemployeebenefits
34.Provisions
1.ProvisionsarerecognizedwhentheCompanyhasapresentobligationasaresultofanyexternalguarantee,litigation,productqualitywarranty,onerouscontractorothercontingencies,anditisprobablethatanoutflowofresourcesembodyingeconomicbenefitswillberequiredtosettletheobligation,andtheamountoftheobligationcanbereliablymeasured.
2.Provisionsareinitiallymeasuredaccordingtothebestestimatesoftheexpendituresrequiredtosettletherelatedpresentobligations.Thecarryingvalueofprovisionsisreviewedatthebalancesheetdate.
35.Share-basedpayments
1.Typesofshare-basedpayments
Share-basedpaymentsincludeequity-settledshare-basedpaymentsandcash-settledshare-basedpayments.
2.Accountingtreatmentofimplementation,amendmentandterminationofshare-basedpaymentplans
(1)Equity-settledshare-basedpayment
Withrespecttoanequity-settledshare-basedpaymentthatisgrantedinexchangefortheservicesofemployees,iftherightcanbeimmediatelyexercisedafterthegrant,atthedateofthegrant,thefairvalueoftheequityinstrumentsisincludedintherelevantcostsorexpenses,andthecapitalreserveisadjustedaccordingly;iftherightmaynotbeexerciseduntilthevestingperiodcomestoanendoruntilthespecifiedperformanceconditionsaremet,ateachbalancesheetdatewithinthevestingperiod,theservicesreceivedinthecurrentperiodare,basedonthebestestimateoftheexercisableequity,includedintherelevantcostsorexpensesatthefairvalueoftheequityinstrumentsatthedateofgrant,andthecapitalreserveisadjustedaccordingly.
Anequity-settledshare-basedpaymentthatisgrantedinexchangefortheservicesofanyotherpartyismeasuredatfairvalueatthedateofreceiptofsuchservicesifthefairvalueofsuchservicescanbereliablymeasured,oratthefairvalueoftheequityinstrumentsatthedateofreceiptofsuchservicesifthefairvalueofsuchservicescannotbereliablymeasuredbutthefairvalueoftheequityinstrumentscanbereliablymeasured.Theservicesareincludedintherelevantcostsorexpenses,andtheowners’equityisincreasedaccordingly.
(2)Cash-settledshare-basedpayment
Withrespecttoacash-settledshare-basedpaymentthatisgrantedinexchangefortheservicesofemployees,iftherightcanbeimmediatelyexercisedafterthegrant,atthedateofgrant,thefairvalueoftheliabilityundertakenbytheCompanyisincludedintherelevantcostsorexpenses,andtheliabilitiesareincreasedaccordingly;iftherightmaynotbeexerciseduntilthevestingperiodcomestoanendoruntilthespecifiedperformanceconditionsaremet,ateachbalancesheetdatewithinthevestingperiod,theservicesreceivedinthecurrentperiodare,basedonthebestestimateabouttheexercisableright,includedintherelevantcostsorexpensesandthecorrespondingliabilitiesatthefairvalueoftheliabilityundertakenbytheCompany.
(3)Amendmentandterminationofshare-basedpaymentplans
Ifsuchamendmentresultsinanincreaseinthefairvalueoftheequityinstrumentsgranted,theCompanyrecognizesacorrespondingincreaseintheservicesreceivedaccordingtotheincreaseinthefairvalueoftheequityinstruments.Ifsuchamendmentresultsinanincreaseinthenumberofequityinstrumentsgranted,theCompanyrecognizesacorrespondingincreaseintheservicesreceivedaccordingtothefairvalueoftheadditionalequityinstrumentsgranted.IftheCompanyamendsthevestingconditionsinamannerfavorabletotheemployees,theCompanywilltakeintoaccountthevestingconditionsasamendedintheaccountingthereof.
Ifsuchamendmentresultsinadecreaseinthefairvalueoftheequityinstrumentsgranted,theCompanycontinuestorecognizetheservicesreceivedbasedonthefairvalueoftheequityinstrumentsatthedateofgrant,withouttakingintoaccountthedecreaseinthefairvalueoftheequityinstruments.Ifsuchamendmentresultsinadecreaseinthenumberofequityinstrumentsgranted,theportionoftheequityinstrumentsreducedisdeemedcanceled.IftheCompanyamendsthevestingconditionsinamannerunfavorabletotheemployees,theCompanywillnottakeintoaccountthevestingconditionsasamendedintheaccountingthereof.
If,duringthevestingperiod,theCompanycancelsorsettlesanyequityinstrumentsgranted(exceptforthosecanceledduetofailuretosatisfythevestingconditions),suchcancellationorsettlementistreatedasanaccelerationofvesting,andtheamountthatwouldhavebeenrecognizedintheremainingvestingperiodisrecognizedimmediately.
36.Preferredshares,perpetualbondsandotherfinancialinstruments
37.RevenueAccountingpoliciesfortherecognitionandmeasurementofrevenuedisclosedbybusinesstype
1.Revenuerecognitionprinciple
Atcontractcommencementdate,theCompanyassessesacontracttoidentifyeachsingleperformanceobligationincludedinthecontractandwhethersuchperformanceobligationshallbesatisfiedovertimeoratapointintime.Aperformanceobligationshallbesatisfiedovertimeifitmeetsoneofthefollowingconditions,otherwise,itshallbesatisfiedatapointintime:(i)thecustomersimultaneouslyreceivesandconsumesthebenefitsprovidedbytheCompany’sperformance;(ii)thecustomercancontroltheworkinprocesscreatedduringtheCompany’sperformance;or(iii)theCompany’sperformancedoesnotcreatethegoodswithanalternativeusetotheCompanyandtheCompanyhasanenforceablerighttopaymentforperformancecompletedtodate.Withrespecttoaperformanceobligationsatisfiedovertime,theCompanyrecognizesrevenueovertimebymeasuringtheprogresstowardcompletesatisfactionofthatperformanceobligation.IftheCompanyisunabletoreasonablymeasuretheprogressofaperformanceobligation,butexpectstorecoverthecostsincurredinsatisfyingtheperformanceobligation,theCompanyrecognizesrevenueonlytotheextentofthecostsincurreduntilsuchtimethatitcanreasonablymeasuretheprogressoftheperformanceobligation.Withrespecttoaperformanceobligationsatisfiedatapointintime,theCompanyrecognizesrevenuewhenthecustomerobtainscontroloftherelevantgoodsorservices.Indeterminingwhetherthecustomerhasobtainedcontrolofanygoods,theCompanyconsidersthefollowingindicators:(i)theCompanyhasapresentrighttopaymentforthegoods,i.e.thecustomerpresentlyisobligedtopayforthegoods;(ii)theCompanyhastransferredthelegaltitletothegoodstothecustomer,i.e.thecustomerhasthelegaltitletothegoods;(iii)theCompanyhastransferredphysicalpossessionofthegoodstothecustomer,i.e.thecustomerphysicallypossessesthegoods;(iv)theCompanyhaspassedthesignificantrisksandrewardsofownershipofthegoodstothecustomer,i.e.thecustomerhasthesignificantrisksandrewardsofownershipofthegoods;(v)thecustomerhasacceptedthegoods;and(vi)otherindicatorsshowingthatthecustomerhasobtainedcontrolofthegoods.
2.Revenuemeasurementprinciple
(1)TheCompanymeasuresrevenueaccordingtothetransactionpriceallocatedtoeachperformanceobligation.TransactionpriceistheamountofconsiderationtowhichtheCompanyexpectstobeentitledinexchangefortransferringtherelevantgoodsorservicestoacustomer,excludingtheamountscollectedonbehalfofthirdpartiesorexpectedtobereturnedtothecustomer.
(2)Ifacontracthasanyvariableconsideration,theCompanydeterminesthebestestimateofthevariableconsiderationaccordingtotheexpectedvalueorthemostlikelyamount,buttheCompanyshallincludeinthetransactionpricesomeorallofanamountofvariableconsiderationonlytotheextentthatitisprobablethatasignificantreversalintheamountofcumulativerevenuerecognizedwillnotoccurwhentheuncertaintyassociatedwiththevariableconsiderationissubsequentlyresolved.
(3)Ifacontractcontainsasignificantfinancingcomponent,theCompanydeterminesthetransactionpriceaccordingtotheamountthatthecustomerwouldhavepaidforthegoodsorservicesifithadpaidcashwhenitobtainedcontrolofthegoodsorservices.Thedifferencebetweensuchtransactionpriceandthecontractconsiderationisamortizedoverthetermofthecontractusingtheeffectiveinterestmethod.
(4)Ifacontractincludestwoormoreperformanceobligations,atcontractcommencementdate,theCompanyallocatesthetransactionpricetoeachperformanceobligationonarelativestandalonesellingpricebasis.Differentmethodsofrevenuerecognitionandmeasurementforthesamebusinesstypethatadoptsdifferentbusinessmodels.
TheCompanyisprimarilyengagedinthesaleofelectroniccircuits,LEDdisplaydevices,touchpanelsandLCMs,precisioncomponentsandotherproducts,therevenuesfromwhichconstituteperformanceobligationstobesatisfiedatapointintime.RevenuefromthesaleofproductsonthedomesticmarketisrecognizedwhentheCompanyhasdeliveredtheproductstotheagreedplaceofdeliverywhichhasbeenacceptedbythecustomer,hasreceivedorhasapresentrighttopaymentfortheproducts,anditisprobablethattheeconomicbenefitsassociatedwiththetransactionwillflowtotheCompany.RevenuefromsaleofproductsontheoverseasmarketisrecognizedwhentheproductsdeliveredbytheCompanypursuanttothecontracthavebeenclearedthroughcustoms,andtheCompanyhasreceivedtherelevantexportdeclarationformandbilloflading,hasreceivedorhasapresentrighttopaymentfortheproducts,anditisprobablethattheeconomicbenefitsassociatedwiththetransactionwillflowtotheCompany.
38.Contractcosts
Contractacquisitioncosts,i.e.theincrementalcostofacquiringacontract,arerecognizedasanassetiftheyareexpectedtoberecovered,andiftheamortizationperiodisnomorethanoneyear,aredirectlyrecordedinprofitorlossintheperiodinwhichtheyareincurred.
Contractperformancecosts,i.e.thecostsoffulfillingacontract,arerecognizedasanassetiftheyarenotaddressedbythestandardsoninventories,fixedassetsandintangibleassetsandmeetallofthefollowingconditions:
1.thecostsrelatedirectlytoacontractortoananticipatedcontract,includingdirectlabor,directmaterial,manufacturingcosts(orsimilarcosts),coststhatareexplicitlychargeabletotherelevantcustomerunderthecontractandothercostsincurredsolelyinconnectionwiththecontract;
2.thecostsenhancetheresourcesoftheCompanythatwillbeusedinsatisfyingtheperformanceobligationsinthefuture;
3.thecostsareexpectedtoberecovered.Theassetsrelatedtocontractcostsareamortizedonthesamebasisastherecognitionofrevenuesfromgoodsorservicesrelatedtosuchassets,andrecognizedinprofitorloss.Theportionofthecarryingvalueofanassetrelatedtocontractcostsinexcessoftheremainingconsiderationreceivablefromthetransferofgoodsorservicesrelatedtosuchassetlesstheestimatedcoststhatareexpectedtobeincurredisrecognizedasanimpairmentloss.If,asaresultofchangesinthefactorsofimpairmentinthepreviousperiods,theremainingconsiderationreceivablefromthetransferofgoodsorservicerelatedtosuchassetlesstheestimatedcoststhatareexpectedtobeincurredexceedsthecarryingvalueofsuchasset,theimpairmentlossisreversedthroughprofitorloss,providedthatthecarryingvalueofthereversedassetshallnotexceeditscarryingvalueatthereversaldateassumingsuchimpairmentlosswerenotrecognized.
39.Governmentgrants
1.Governmentgrantsarerecognizedif(i)theCompanymeetstheconditionsattachedtothegovernmentgrants;and(ii)theCompanywillreceivethegovernmentgrants.Governmentgrantsintheformofmonetaryassetsaremeasuredattheamountreceivedorreceivable.Governmentgrantsintheformofnon-monetaryassetsaremeasuredatfairvalue,oriftheirfairvalueisunavailable,atanominalamount.
2.Determinationandaccountingtreatmentofgovernmentgrantsrelatedtoassets
Governmentgrantsrelatedtoassetsaregovernmentgrantswhichareofferedforpurchasing,constructingorotherwiseacquiringlong-termassetsasprovidedbytheapplicablegovernmentdocuments,orintheabsenceofsuchexpressprovisionintheapplicablegovernmentdocuments,whoseprimaryconditionisthattheCompanyshouldpurchase,constructorotherwiseacquirelong-termassets.Governmentgrantsrelatedtoassetsareoffsetagainstthecarryingvalueoftherelevantassetsorrecognizedasdeferredincome.Governmentgrantsrelatedtoassetsrecognizedasdeferredincomeareincludedinprofitorlossovertheservicelifeoftherelevantassetsonareasonableandsystematicbasis.Governmentgrantsmeasuredatnominalamountaredirectlyrecognizedinprofitorloss.Incaseofasale,transfer,retirementordamageoftherelevantassetsbeforetheendoftheintendedservicelife,thebalanceoftheunallocateddeferredincomeistransferredtoprofitorlossfortheperiodinwhichtheassetsaredisposedof.
3.Determinationandaccountingtreatmentofgovernmentgrantsrelatedtoincome
Governmentgrantsrelatedtoincomearegovernmentgrantsotherthanthoserelatedtoassets.Governmentgrantsrelatedtobothassetsandincomewhereitisdifficulttomakeadistinctionbetweentheportionrelatedtoassetsandtheportionrelatedtoincomearewhollyclassifiedasgovernmentgrantsrelatedtoincome.Governmentgrantsrelatedtoincomeascompensationforexpensesorlossestobeincurredinsubsequentperiodsarerecognizedasdeferredincomeandintheperiodforrecognizingtherelevantcosts,expensesorlosses,includedinprofitorlossoroffsetagainsttherelevantcosts.Governmentgrantsrelatedtoincomeascompensationforexpensesorlossesalreadyincurredaredirectlyincludedinprofitorlossoroffsetagainsttherelevantcosts.
4.Governmentgrantsrelatedtoday-to-dayoperationsoftheCompanyarerecognizedinotherincomeoroffsetagainsttherelevantcostsandexpensesdependingonthenatureofeconomicbusiness.Governmentgrantsnotrelatedtoday-to-dayoperationsoftheCompanyarerecognizedinnon-operatingrevenuesorexpenses.
5.Accountingtreatmentofpolicyloaninterestsubsidy
IfthefinancialauthoritydirectlyappropriatesanyinterestsubsidytotheCompany,theinterestsubsidyisrecognizedasareductionintheborrowingcost.
40.Deferredtaxassetsanddeferredtaxliabilities
1.Thedifferencebetweenthetaxbaseofanassetorliabilityanditscarryingvalue,orincaseofanitemnotrecognizedasanassetorliabilitywhosetaxbasecanbedeterminedaccordingtotheapplicabletaxlaw,thedifferencebetweenitstaxbaseandcarryingvalue,isrecognizedasadeferredtaxassetordeferredtaxliabilityaccordingtothetaxrateapplicabletotheperiodinwhichtheassetorliabilityisexpectedtoberecoveredorsettled.
2.Deferredtaxassetsarerecognizedtotheextentthatitisprobablethattaxableincomewillbeavailableinfutureperiodsagainstwhichthedeductibletemporarydifferencescanbeutilized.Atthebalancesheetdate,previouslyunrecognizeddeferredtaxassetsarerecognizedifconclusiveevidenceexiststhatsufficienttaxableincomewillprobablybeavailableinfutureperiodstoutilizethedeductibletemporarydifferences.
3.Atthebalancesheetdate,thecarryingvalueofdeferredtaxassetsisreviewedandwrittendowntotheextentthatitisnolongerprobablethatsufficienttaxableincomewillbeavailableinfutureperiodstoallowthebenefitofthedeferredtaxassetstobeutilized.Ifitisprobablethatsufficienttaxableincomewillbeavailable,theamountofwrite-downisreversed.
4.Theincometaxesanddeferredincometaxesareincludedinprofitorlossasincometaxexpensesorgains,excepttheincometaxesarisingfromany:(i)businesscombination;or(ii)transactionoreventdirectlyrecognizedinowners’equity.
5.Deferredincometaxassetsanddeferredincometaxliabilitiesareoffsetandpresentedonanetbasisif:(i)theCompanyhasalegalrighttosettlecurrenttaxassetsandcurrenttaxliabilitiesonanetbasis;and(ii)thedeferredtaxassetsanddeferredtaxliabilitiesrelatetoincometaxesleviedbythesametaxauthorityoneitherthesametaxableentityordifferenttaxableentitieswhichintendeithertosettlecurrenttaxassetsandcurrenttaxliabilitiesonanetbasisortorealizetheassetsandliabilitiessimultaneously,ineachfutureperiodinwhichsignificantamountsofdeferredtaxassetsorliabilitiesareexpectedtobereversed.
41.Leases
(1)AccountingtreatmentofleasesunderwhichtheCompanyislessee
Attheleasecommencementdate,aleasethathasaleasetermof12monthsorlessanddoesnotcontainapurchaseoptionisashort-termlease.Aleaseofanassetwithalowvaluewhennewisaleaseofalow-valueasset.WheretheCompanysubleasesorexpectstosubleasealeasedasset,theoriginalleaseisnotclassifiedasaleaseofalow-valueasset.
Exceptforshort-termleasesandleasesoflow-valueassets,attheleasecommencementdate,theCompanyrecognizesright-of-useassetsandleaseliabilitiesforthelease.
(1)Right-of-useassets
Right-of-useassetsareinitiallymeasuredatcost,whichcostincludes:(i)theamountoftheleaseliabilityinitiallymeasured;(ii)anyleasepaymentsmadeatorbeforethecommencementdate,lessanyleaseincentivesreceived;(iii)anyinitialdirectcostsincurredbythelessee;and(iv)estimatedcoststobeincurredbythelesseeindismantlingandremovingtheleaseasset,restoringthesiteonwhichitislocatedorrestoringtheleaseassettotheconditionrequiredbythetermsandconditionsofthelease.
TheCompanydepreciatestheright-of-useassetsusingthestraight-linemethod.Ifitisreasonabletobecertainthattheownershipofaleaseassetcanbeacquiredbytheendoftheleaseterm,theCompanydepreciatestheright-of-useassetoveritsremainingservicelife.Otherwise,theCompanydepreciatestheright-of-useassetovertheshorteroftheleasetermanditsremainingservicelife.
(2)Leaseliabilities
Attheleasecommencementdate,theCompanymeasuresaleaseliabilityatthepresentvalueoftheleasepaymentsthathavenotbeenpaidatthatdate.Thepresentvalueofleasepaymentsisdeterminedusingtheinterestrateimplicitintheleaseasthediscountrate.Ifthatratecannotbereadilydetermined,thelessee’sincrementalborrowingrateisused.Thedifferencebetweentheleasepaymentsandtheirpresentvalueisunrecognizedfinancingcosts.Interestexpensesaremeasuredforeachperiodwithintheleasetermusingthediscountratefordeterminingthepresentvalueofleasepayments,andrecognizedinprofitorloss.Variableleasepaymentsnotincludedinthemeasurementofleaseliabilitiesarerecognizedinprofitorlossintheperiodduringwhichtheyareincurred.
Aftertheleasecommencementdate,iftherearechangesinthein-substancefixedleasepayments,amountsexpectedtobepayableunderresidualvalueguarantee,theindexorrateusedtodeterminetheleasepayments,theresultofanassessmentofpurchaseoption,renewaloptionorterminationoptionortheactualexerciseofsuchoptions,theCompanyre-measurestheleaseliabilitybasedonthepresentvalueofleasepaymentsasadjusted,andadjuststhecarryingvalueoftheright-of-useassetsaccordingly.Ifthecarryingvalueoftheright-of-useassetisreducedtozero,buttheleaseliabilityneedstobefurtherreduced,thebalanceisrecognizedinprofitorloss.
(2)AccountingtreatmentofleasesunderwhichtheCompanyislessor
Attheleasecommencementdate,theCompanyclassifiesaleasethattransferssubstantiallyalltherisksandrewardsincidentaltoownershipofaleaseassettothelesseeasafinancelease,andallotherleasesasoperatingleases.
(1)Operatinglease
Leasereceiptsarerecognizedasleaseincomeusingthestraight-linemethodovertheleaseterm.Initialdirectcostsincurredarecapitalized,amortizedonthesamebasisastherecognitionofleaseincome,andrecognizedinprofitorlossbyinstallments.Variableleasepaymentsrelatedtotheoperatingleasewhicharenotincludedintheleasereceiptsarerecognizedinprofitorlossintheperiodduringwhichtheyareincurred.
(2)Financelease
Attheleasecommencementdate,theCompanyrecognizesthefinanceleasepaymentsreceivablebasedonthenetinvestmentinthelease(equaltothesumofunguaranteedresidualvalueandthepresentvalueofleasereceiptsthatarenotreceivedattheleasecommencementdateanddiscountedusingtheCompany’sincrementalborrowingrate),andderecognizestheassetsheld
underthefinancelease.TheCompanycalculatesandrecognizesinterestincomeusingtheinterestrateimplicitintheleaseovertheleaseterm.Variableleasepaymentsthatarenotincludedinthemeasurementofthenetinvestmentinaleasearerecognizedinprofitorlosswhentheyareincurred.
42.OtherSignificantaccountingpoliciesandaccountingestimates
43.Significantchangesinaccountingpoliciesandaccountingestimates
(1)Significantchangesinaccountingpolicies
□Applicable?N/A
(2)Changesinsignificantaccountingestimates
□Applicable?N/A
(3)Adjustmentoftheopeningbalanceofrelatedfinancialstatementitemsduetotheinitialadoptionofnewaccountingstandardssince2025
□Applicable?N/A
44.Miscellaneous
VI.Taxation
1.Maincategoriesoftaxesandtaxrates
| Categoryoftax | Taxbase | Taxrate |
| Value-addedtax | Theoutputtaxiscalculatedbasedonrevenuefromsalesofgoodsorrenderingofservicesinaccordancewiththetaxlaw,andnetoftheinputtaxdeductibleinthecurrentperiodisthevalue-addedtaxpayable. | 13%,6%or7%-25%(fortheCompany’soverseassubsidiaries) |
| Urbanmaintenanceandconstructiontax | Amountofturnovertaxactuallypaid | 5%or7%(China) |
| Enterpriseincometax | Amountoftaxableincome | 9%,15%,16.50%,25%,0,21%，0.75%-8.84%,17%,10%,20%,20.6%,24%,30% |
| Propertytax | Ifleviedonthebasisofprice,1.2%*70%oftheoriginalvalueoftheproperty;ifleviedonthebasisofrental,12%oftheleaseincome | 1.2%or12%(China) |
| Educationsurcharge | Amountofturnovertaxactuallypaid | 3%(China) |
| Localeducationsurcharge | Amountofturnovertaxactuallypaid | 2%(China) |
Differentratesofenterpriseincometaxapplicabletothetaxpayers:
| Taxpayer | Incometaxrate |
| TheCompany,MuttoOptronicsTechnologyCo.,Ltd.,MFLEXYanchengCo.,Ltd., | 15.00% |
| YanchengDongshanPrecisionManufacturingCo.,Ltd.,SuzhouRFTopElectronicCommunicationCo.,Ltd.,SuzhouChengjiaPrecisionManufacturingCo.,Ltd.,SuzhouDongdaiElectronicTechnologyCo.,Ltd.,YanchengDongshanCommunicationTechnologyCo.,Ltd.,SuzhouYongchuangCommunicationTechnologyCo.,Ltd.,SuzhouJebsonIntelligentTechnologyCo.,Ltd.,SuzhouDongyueNewEnergyTechnologyCo.,Ltd.,andYanchengDongchuangPrecisionManufacturingCo.,Ltd. | |
| HongKongDongshanPrecisionUnionOptoelectronicCo.,Ltd.andothercompaniesincorporatedinHongKong | 16.50% |
| MuttoOptronicsGroupLimited,MflexDelaware,Inc.,TheDiiGroup(BVI)Co.Limited | 0 |
| Multi-FinelineElectronix,Inc.(hereinafterreferredtoasMflex)andothercompaniesincorporatedintheUnitedStates | Federalcorporateincometaxrate,21%;statecorporateincometaxrate,0.75%-8.84% |
| Multi-FinelineElectronixSingaporePtd.Ltd.andothercompaniesincorporatedinSingapore | 17%(Singapore) |
| MultekTechnologiesLimited | 15%(enjoyingan80%taxexemption) |
| MultekTechnologySwedenAB | 20.6%(Sweden) |
| MultekTechnologyMalaysiaSDN.BHD | 24%(Malaysia) |
| DSBJMexico,S.DER.L.DEC.V.andothercompaniesinMexico | 30.00% |
| Multi-FinelineElectronics(Thailand)Co.,Ltd. | 20.00% |
| Multi-FinelineElectronicsHungaryKFT. | 9.00% |
| Othertaxpayersnotlistedabove | 25.00% |
2.Taxpreferences
(1)PursuanttotheNoticeonPublishingtheFilingoftheThirdBatchofHighandNewTechnologyEnterprisesRecognizedbytheRecognitionAuthorityofJiangsuProvincein2022issuedbytheOfficeoftheNationalLeadingGroupforRecognitionManagementofHighandNewTechnologyEnterprises,theCompany’ssubsidiaries,MuttoOptronics,YanchengDongshanPrecisionManufacturingCo.,Ltd.,YanchengDongshanCommunicationTechnologyCo.,Ltd.andMFLEXYanchengpassedthehighandnewtechnologyenterprisequalificationreviewwithatermofthreeyearsfrom2022to2025,andthereforearesubjecttoanenterpriseincometaxrateof15%forthecurrentperiod.
(2)PursuanttotheNoticeonPublishingtheFilingoftheFourthBatchofHighandNewTechnologyEnterprisesRecognizedbytheRecognitionAuthorityofJiangsuProvincein2022issuedbytheOfficeoftheNationalLeadingGroupforRecognitionManagementofHighandNewTechnologyEnterprises,theCompanyanditswholly-ownedsubsidiarySuzhouChengjiapassedthehighandnewtechnologyenterprisequalificationreviewwithatermofthreeyearsfrom2022to2025,andthereforearesubjecttoanenterpriseincometaxrateof15%forthecurrentperiod.
(3)PursuanttotheNoticeonPublishingtheFilingtheSecondBatchofHighandNewTechnologyEnterprisesRecognizedbytheRecognitionAuthorityofJiangsuProvincein2022issuedbytheOfficeoftheNationalLeadingGroupforRecognitionManagementofHighandNewTechnologyEnterprises,theCompany’ssubsidiarySuzhouRFTopElectronicCommunicationCo.,Ltd.passedthehighandnewtechnologyenterprisequalificationreviewwithatermofthreeyearsfrom2022to2025,andthereforeissubjecttoanenterpriseincometaxrateof15%forthecurrentperiod.
(4)PursuanttotheAdministrativeMeasuresonCertificationandManagementofHighandNewTechnologyEnterprises(GuoKeFaHuo(2016)No.32)andGuidelinesfortheAccreditationofHighandNewTechnologyEnterprises(GuoKeFaHuo(2016)No.195),SuzhouDongdaiElectronicTechnologyCo.,Ltd.,SuzhouYongchuangCommunicationTechnologyCo.,Ltd.,andSuzhouJebsonIntelligentTechnologyCo.,Ltd.passedthequalificationreviewofhighandnewtechnologyenterpriseswithatermofthreeyearsfrom2023to2026,andthereforearesubjecttoanenterpriseincometaxrateof15%forthecurrentperiod.
(5)PursuanttotheAdministrativeMeasuresonCertificationandManagementofHighandNewTechnologyEnterprises(GuoKeFaHuo(2016)No.32)andGuidelinesfortheAccreditationofHighandNewTechnologyEnterprises(GuoKeFaHuo(2016)No.195),SuzhouDongyueNewEnergyTechnologyCo.,Ltd.andYanchengDongchuangPrecisionManufacturingCo.,Ltd.passedthequalificationreviewofhighandnewtechnologyenterpriseswithatermofthreeyearsfrom2024to2027,andthereforearesubjecttoanenterpriseincometaxrateof15%forthecurrentperiod.
(6)MultekTechnologiesLimitedissubjecttoacorporateincometaxrateof15%undertheMauritiusCorporateIncomeTaxAct,andasaglobalClassIcompanyincorporatedinMauritiusbutoperatingabroad,enjoysan80%taxexemption,soitseffectivecorporateincometaxrateis3%.VII.Notestoitemsoftheconsolidatedfinancialstatements
1.Cashandbankbalances
InRMB
| Item | Closingbalance | Openingbalance |
| Cashonhand | 200,624.49 | 266,540.67 |
| Bankdeposits | 7,629,676,172.26 | 5,771,485,841.70 |
| Othercashandbankbalances | 1,098,095,614.02 | 1,400,578,869.92 |
| Total | 8,727,972,410.77 | 7,172,331,252.29 |
| Incl.:Totalamountsdepositedabroad | 3,101,225,858.20 | 2,457,343,027.80 |
Otherinformation:SeeNotestotheFinancialStatementsforcashandcashequivalentssubjecttorestrictionsonuse,andcashandbankbalancesnotclassifiedascashandcashequivalents.
2.Financialassetsheldfortrading
InRMB
| Item | Closingbalance | Openingbalance |
| Financialassetsatfairvaluethroughprofitorloss | 99,120,489.81 | 78,144,342.95 |
| Incl.: | ||
| Investmentsinequityinstruments | 65,235,923.23 | 63,212,376.92 |
| Derivatives | 33,884,566.58 | 14,931,966.03 |
| Incl.: | ||
| Total | 99,120,489.81 | 78,144,342.95 |
4.Notesreceivable
(1)Notesreceivablebycategory
InRMB
| Item | Closingbalance | Openingbalance |
| Commercialacceptancebills | 17,976,222.55 | 9,037,098.60 |
| Total | 17,976,222.55 | 9,037,098.60 |
(2)Notesreceivablebymethodofrecognitionofallowancefordoubtfulaccounts
InRMB
| Type | Closingbalance | Openingbalance | ||||||||
| Bookbalance | Allowancefordoubtfulaccounts | Carryingvalue | Bookbalance | Allowancefordoubtfulaccounts | Carryingvalue | |||||
| Amount | % | Amount | Ratioofprovision | Amount | % | Amount | Ratioofprovision | |||
| Incl.: | ||||||||||
| Allowancerecognizedcollectively | 18,066,555.33 | 100.00% | 90,332.78 | 0.50% | 17,976,222.55 | 9,082,511.16 | 100.00% | 45,412.56 | 0.50% | 9,037,098.60 |
| Incl.: | ||||||||||
| Commercialacceptancebills | 18,066,555.33 | 100.00% | 90,332.78 | 0.50% | 17,976,222.55 | 9,082,511.16 | 100.00% | 45,412.56 | 0.50% | 9,037,098.60 |
| Total | 18,066,555.33 | 100.00% | 90,332.78 | 0.50% | 17,976,222.55 | 9,082,511.16 | 100.00% | 45,412.56 | 0.50% | 9,037,098.60 |
Notesreceivablewithallowancefordoubtfulaccountsrecognizedcollectivelybycategoryname:
InRMB
| Item | Closingbalance | ||
| Bookbalance | Allowancefordoubtfulaccounts | Ratioofprovision | |
| Groupofcommercialacceptancebills | 18,066,555.33 | 90,332.78 | 0.50% |
| Total | 18,066,555.33 | 90,332.78 | |
(3)Allowancefordoubtfulaccountsrecognized,recoveredorreversedinthecurrentperiod
Allowancefordoubtfulaccountsrecognizedinthecurrentperiod:
InRMB
| Type | Opening | Changesinthecurrentperiod | Closingbalance |
| balance | Recognized | Recoveredorreversed | Writtenoff | Others | ||
| Allowancerecognizedcollectively | 45,412.56 | 44,920.22 | 90,332.78 | |||
| Total | 45,412.56 | 44,920.22 | 90,332.78 |
5.Accountsreceivable
(1)Accountsreceivablebyage
InRMB
| Age | Closingbookbalance | Openingbookbalance |
| Within1year(inclusive) | 5,981,786,072.97 | 7,669,860,368.06 |
| Within6months | 5,897,543,290.80 | 7,558,742,455.97 |
| 7-12months | 84,242,782.17 | 111,117,912.09 |
| 1-2years | 56,600,231.74 | 30,428,150.63 |
| 2-3years | 40,736,721.15 | 42,084,100.70 |
| Over3years | 210,461,454.48 | 218,266,298.53 |
| 3-4years | 15,387,941.56 | 33,424,157.23 |
| 4-5years | 16,614,833.49 | 103,896,595.98 |
| Over5years | 178,458,679.43 | 80,945,545.32 |
| Total | 6,289,584,480.34 | 7,960,638,917.92 |
(2)Notesreceivablebymethodofrecognitionofallowancefordoubtfulaccounts
InRMB
| Type | Closingbalance | Openingbalance | ||||||||
| Bookbalance | Allowancefordoubtfulaccounts | Carryingvalue | Bookbalance | Allowancefordoubtfulaccounts | Carryingvalue | |||||
| Amount | % | Amount | Ratioofprovision | Amount | % | Amount | Ratioofprovision | |||
| Allowancerecognizedindividually | 58,220,894.36 | 0.93% | 57,514,295.37 | 98.79% | 706,598.99 | 58,220,894.36 | 0.73% | 57,514,295.37 | 98.79% | 706,598.99 |
| Incl.: | ||||||||||
| Allowancerecognizedcollectively | 6,231,363,585.98 | 99.07% | 229,786,272.30 | 3.69% | 6,001,577,313.68 | 7,902,418,023.56 | 99.27% | 239,666,597.06 | 3.03% | 7,662,751,426.50 |
| Incl.: | ||||||||||
| Total | 6,289,584,480.34 | 100.00% | 287,300,567.67 | 4.57% | 6,002,283,912.67 | 7,960,638,917.92 | 100.00% | 297,180,892.43 | 3.73% | 7,663,458,025.49 |
Notesreceivablewithallowancefordoubtfulaccountsrecognizedcollectivelybycategoryname:Age
InRMB
| Item | Closingbalance | ||
| Bookbalance | Allowancefordoubtfulaccounts | Ratioofprovision | |
| Within6months | 5,897,543,290.81 | 29,487,716.95 | 0.50% |
| 7-12months | 83,163,261.57 | 4,158,163.25 | 5.00% |
| 1-2years | 49,300,629.96 | 9,860,126.00 | 20.00% |
| 2-3years | 37,690,343.90 | 22,614,206.36 | 60.00% |
| Over3years | 163,666,059.74 | 163,666,059.74 | 100.00% |
| Total | 6,231,363,585.98 | 229,786,272.30 | |
(3)Allowancefordoubtfulaccountsrecognized,recoveredorreversedinthecurrentperiod
Allowancefordoubtfulaccountsrecognizedinthecurrentperiod:
InRMB
| Type | Openingbalance | Changesinthecurrentperiod | Closingbalance | |||
| Recognized | Recoveredorreversed | Writtenoff | Others | |||
| Allowancerecognizedindividually | 57,514,295.37 | 0.00 | 57,514,295.37 | |||
| Allowancerecognizedcollectively | 239,666,597.06 | -9,880,324.76 | 229,786,272.30 | |||
| Total | 297,180,892.43 | -9,880,324.76 | 0.00 | 0.00 | 0.00 | 287,300,567.67 |
(5)Top5debtorsintermsofclosingbalanceofaccountsreceivableandcontractassets
InRMB
| Companyname | Closingbalanceofaccountsreceivable | Closingbalanceofcontractassets | Totalclosingbalanceofaccountsreceivableandcontractassets | %ofthetotalclosingbalanceofaccountsreceivableandcontractassets | Closingbalanceofallowancefordoubtfulaccountsreceivableandimpairmentofcontractassets |
| Top1 | 1,111,812,740.97 | 1,111,812,740.97 | 17.68% | 5,598,742.07 | |
| Top2 | 617,777,060.34 | 617,777,060.34 | 9.82% | 5,328,738.87 | |
| Top3 | 448,491,379.69 | 448,491,379.69 | 7.13% | 2,242,456.86 | |
| Top4 | 310,750,603.40 | 310,750,603.40 | 4.94% | 1,977,601.87 | |
| Top5 | 290,782,957.83 | 290,782,957.83 | 4.62% | 1,453,914.79 | |
| Total | 2,779,614,742.23 | 2,779,614,742.23 | 44.19% | 16,601,454.46 |
7.Accountsreceivablefinancing
(1)Accountsreceivablefinancingbycategory
InRMB
| Item | Closingbalance | Openingbalance |
| Banker’sacceptancebills | 252,886,223.60 | 252,612,009.41 |
| Total | 252,886,223.60 | 252,612,009.41 |
(2)Notesreceivablebymethodofrecognitionofallowancefordoubtfulaccounts
InRMB
| Type | Closingbalance | Openingbalance | ||||||||
| Bookbalance | Allowancefordoubtfulaccounts | Carryingvalue | Bookbalance | Allowancefordoubtfulaccounts | Carryingvalue | |||||
| Amount | % | Amount | Ratioofprovision | Amount | % | Amount | Ratioofprovision | |||
| Incl.: | ||||||||||
| Allowancerecognizedcollectively | 252,886,223.60 | 100.00% | 252,886,223.60 | 252,612,009.41 | 100.00% | 252,612,009.41 | ||||
| Incl.: | ||||||||||
| Banker’sacceptancebills | 252,886,223.60 | 100.00% | 252,886,223.60 | 252,612,009.41 | 100.00% | 252,612,009.41 | ||||
| Total | 252,886,223.60 | 100.00% | 252,886,223.60 | 252,612,009.41 | 100.00% | 252,612,009.41 | ||||
(4)Accountsreceivablefinancingpledgedattheendofthecurrentperiod
InRMB
| Item | Amountpledgedattheendoftheperiod |
| Banker’sacceptancebills | 51,194,067.17 |
| Total | 51,194,067.17 |
(5)Accountsreceivablefinancingalreadyendorsedordiscountedbutnotyetbecomedueatthebalancesheetdate
InRMB
| Item | Amountderecognizedattheendoftheperiod | Amountnotderecognizedattheendoftheperiod |
| Banker’sacceptancebills | 1,048,658,496.50 | |
| Total | 1,048,658,496.50 |
(8)Otherinformation
Astheacceptorsofbanker’sacceptancebillsarecommercialbanksthathavehighcreditratings,banker’sacceptancebillsarelesslikelytobedishonoredwhentheybecomedue.Therefore,theCompanyderecognizesthebanker’sacceptancebillsalreadyendorsedordiscounted.However,ifsuchbillsfailtobepaidwhentheybecomedue,theCompanywillassumejointandseveralliabilitytotheholdersthereofpursuanttotheLawonNegotiableInstruments.
8.Otherreceivables
InRMB
| Item | Closingbalance | Openingbalance |
| Otherreceivables | 225,193,916.90 | 45,836,662.39 |
| Total | 225,193,916.90 | 45,836,662.39 |
(3)Otherreceivables
1)Otherreceivablesbynature
InRMB
| Natureofaccounts | Closingbookbalance | Openingbookbalance |
| Loanandreservefund | 7,770,768.07 | 6,147,448.39 |
| Securitydeposit | 27,945,966.55 | 34,357,968.88 |
| Temporarypaymentreceivableandothers | 24,241,567.22 | 21,095,827.83 |
| Securitydepositforinvestments | 187,005,481.32 | |
| Total | 246,963,783.16 | 61,601,245.10 |
2)Otherreceivablesbyage
InRMB
| Age | Closingbookbalance | Openingbookbalance |
| Within1year(inclusive) | 230,232,286.33 | 27,206,070.82 |
| 1-2years | 5,591,924.04 | 18,570,040.87 |
| 2-3years | 2,881,026.62 | 6,555,716.67 |
| Over3years | 8,258,546.17 | 9,269,416.74 |
| 3-4years | 854,328.55 | 2,020,570.56 |
| 4-5years | 4,190,274.23 | 2,933,721.60 |
| Over5years | 3,213,943.39 | 4,315,124.58 |
| Total | 246,963,783.16 | 61,601,245.10 |
3)Otherreceivablesbythemethodofrecognitionofallowancefordoubtfulaccounts?Applicable□N/A
InRMB
| Type | Closingbalance | Openingbalance | ||||||||
| Bookbalance | Allowancefordoubtfulaccounts | Carryingvalue | Bookbalance | Allowancefordoubtfulaccounts | Carryingvalue | |||||
| Amount | % | Amount | Ratioofprovision | Amount | % | Amount | Ratioofprovision | |||
| Allowancerecognized | 2,340,704.91 | 0.95% | 2,340,704.91 | 100.00% | 0.00 | 2,340,704.91 | 3.80% | 2,340,704.91 | 100.00% | 0.00 |
| individually | ||||||||||
| Incl.: | ||||||||||
| Allowancerecognizedcollectively | 244,623,078.25 | 99.05% | 19,429,161.35 | 7.94% | 225,193,916.90 | 59,260,540.19 | 96.20% | 13,423,877.80 | 22.65% | 45,836,662.39 |
| Incl.: | ||||||||||
| Total | 246,963,783.16 | 100.00% | 21,769,866.26 | 8.82% | 225,193,916.90 | 61,601,245.10 | 100.00% | 15,764,582.71 | 25.59% | 45,836,662.39 |
Otherreceivableswithallowancefordoubtfulaccountsrecognizedcollectivelybycategoryname:Age
InRMB
| Item | Closingbalance | ||
| Bookbalance | Allowancefordoubtfulaccounts | Ratioofprovision | |
| Within1year | 230,232,286.33 | 11,511,614.38 | 5.00% |
| 1-2years | 5,591,924.04 | 559,192.40 | 10.00% |
| 2-3years | 2,881,026.62 | 1,440,513.31 | 50.00% |
| Over3years | 5,917,841.26 | 5,917,841.26 | 100.00% |
| Total | 244,623,078.25 | 19,429,161.35 | |
Recognitionofallowancefordoubtfulaccountsinaccordancewiththegeneralmodelofexpectedcreditlosses:
InRMB
| Allowancefordoubtfulaccounts | StageI | StageII | StageIII | Total |
| 12-monthexpectedcreditloss | Lifetimeexpectedcreditloss(notcreditimpaired) | Lifetimeexpectedcreditloss(creditimpaired) | ||
| BalanceatJanuary1,2025 | 1,360,303.54 | 1,857,004.09 | 12,547,275.08 | 15,764,582.71 |
| Inthecurrentperiod,thebalanceasatJanuary1,2025 | ||||
| -TransferredtostageII | -9,904.29 | 9,904.29 | 0.00 | |
| -TransferredtostageIII | -10,500.00 | 10,500.00 | 0.00 | |
| Recognized | 10,161,215.13 | -1,297,215.98 | -2,793,222.14 | 6,070,777.01 |
| Reversed | 65,493.46 | 65,493.46 | ||
| BalanceatJune30,2025 | 11,511,614.38 | 559,192.40 | 9,699,059.48 | 21,769,866.26 |
6)Top5debtorsintermsofclosingbalanceofotherreceivables
InRMB
| Companyname | Natureofaccount | Closingbalance | Age | %ofthetotalclosingbalanceofotherreceivables | Closingbalanceofallowancefordoubtfulaccounts |
| Companyname | Natureofaccount | Closingbalance | Age | %ofthetotalclosingbalanceofotherreceivables | Closingbalanceofallowancefordoubtfulaccounts |
| ShanghaiLucunEnterpriseManagementConsultingPartnership(LimitedPartnership) | Securitydepositforinvestments | 75,860,900.78 | Within1year | 30.72% | 3,793,045.04 |
| ShanghaiYucunEnterpriseManagementConsultingPartnership(LimitedPartnership) | Securitydepositforinvestments | 44,939,190.92 | Within1year | 18.20% | 2,246,959.55 |
| YicunCapitalCo.,Ltd. | Securitydepositforinvestments | 38,454,399.08 | Within1year | 15.57% | 1,922,719.95 |
| ShanghaiXiuchengEnterpriseManagementConsultingPartnership(LimitedPartnership) | Securitydepositforinvestments | 27,093,179.94 | Within1year | 10.97% | 1,354,659.00 |
| ProvincialElectricityAuthorityBanBueng | Securitydeposit | 4,394,000.00 | Within1year | 1.78% | 219,700.00 |
| Total | 190,741,670.72 | 77.23% | 9,537,083.54 |
9.Advancestosuppliers
(1)Advancestosuppliersbyage
InRMB
| Age | Closingbalance | Openingbalance | ||
| Amount | % | Amount | % | |
| Within1year | 197,027,780.68 | 98.16% | 88,459,876.91 | 94.23% |
| 1-2years | 1,458,881.67 | 0.73% | 1,897,007.20 | 2.02% |
| 2-3years | 650,426.93 | 0.32% | 1,923,162.05 | 2.05% |
| Over3years | 1,583,780.94 | 0.79% | 1,595,419.53 | 1.70% |
| Total | 200,720,870.22 | 93,875,465.69 | ||
(2)Top5suppliersintermsofclosingbalanceofadvancestosuppliers
| Companyname | Bookbalance(RMB) | %ofthetotalbalanceofadvancestosuppliers |
| V-CapitalZhigengInternationalCo.,Limited | 41,278,302.09 | 20.57% |
| DongYinDevelopment(Holdings)Limited | 31,427,854.95 | 15.66% |
| TRCapital(SourcePhotonics)Limited | 26,824,572.63 | 13.36% |
| FintrekChinaIndustryPowerInvestment | 18,026,110.32 | 8.98% |
| NanfangCommunicationHoldingsLimited | 18,026,110.32 | 8.98% |
| Subtotal | 135,582,950.31 | 67.55% |
10.Inventories
DoestheCompanyneedtocomplywiththedisclosurerequirementsfortherealestateindustryNo
(1)Categoriesofinventories
InRMB
| Item | Closingbalance | Openingbalance | ||||
| Bookbalance | Inventoryprovisionorallowanceforimpairmentofcontractfulfillingcosts | Carryingvalue | Bookbalance | Inventoryprovisionorallowanceforimpairmentofcontractfulfillingcosts | Carryingvalue | |
| Rawmaterials | 1,564,464,006.39 | 191,681,895.91 | 1,372,782,110.48 | 1,654,514,762.22 | 177,951,960.02 | 1,476,562,802.20 |
| Workinprogress | 1,156,240,266.54 | 91,619,796.55 | 1,064,620,469.99 | 1,003,084,859.72 | 82,988,158.81 | 920,096,700.91 |
| Goodsonhand | 4,465,070,655.16 | 495,725,180.39 | 3,969,345,474.77 | 4,503,260,856.05 | 749,742,579.85 | 3,753,518,276.20 |
| Circulatingmaterials | 1,580,523.79 | 1,580,523.79 | 2,516,343.42 | 38,514.88 | 2,477,828.54 | |
| Total | 7,187,355,451.88 | 779,026,872.85 | 6,408,328,579.03 | 7,163,376,821.41 | 1,010,721,213.56 | 6,152,655,607.85 |
(2)Dataresourcesrecognizedasinventories
InRMB
| Item | Inventoryofoutsourceddataresources | Inventoryofself-builtdataresources | Inventoryofdataresourcesacquiredbyothermeans | Total |
(3)Inventoryprovisionorallowanceforimpairmentofcontractfulfillingcosts
InRMB
| Item | Openingbalance | Increaseinthecurrentperiod | Decreaseinthecurrentperiod | Closingbalance | ||
| Recognized | Others | Reversedorwrittenoff | Others | |||
| Rawmaterials | 177,951,960.02 | 36,908,629.01 | 23,178,693.12 | 191,681,895.91 | ||
| Workinprogress | 82,988,158.81 | 20,287,196.23 | 11,655,558.49 | 91,619,796.55 | ||
| Goodsonhand | 749,742,579.85 | 29,796,305.76 | 283,813,705.22 | 495,725,180.39 | ||
| Circulatingmaterials | 38,514.88 | 38,514.88 | ||||
| Total | 1,010,721,213.56 | 86,992,131.00 | 318,686,471.71 | 779,026,872.85 | ||
Item
| Item | Basisfordeterminingthenetrealizablevalue | Reasonforreversingtheinventoryprovision | Reasonforwritingofftheinventoryprovision |
| Rawmaterials | Thenetrealizablevalueistheestimatedsellingpriceoffinishedgoodslesstheestimatedcostofcompletion,estimatedsellingexpensesandrelatedtaxes. | Theinventoriesforwhichaninventoryprovisionwasrecognizedatthebeginningofthecurrentperiodhavebeenused. | Thenetrealizablevalueistheestimatedsellingpriceoffinishedgoodslesstheestimatedcostofcompletion,estimatedsellingexpensesandrelatedtaxes. |
| Workinprogress | Thenetrealizablevalueistheestimatedsellingpriceoffinishedgoodslesstheestimatedcostofcompletion,estimatedsellingexpensesandrelatedtaxes. | Theinventoriesforwhichaninventoryprovisionwasrecognizedatthebeginningofthecurrentperiodhavebeenused. | Thenetrealizablevalueistheestimatedsellingpriceoffinishedgoodslesstheestimatedcostofcompletion,estimatedsellingexpensesandrelatedtaxes. |
| Goodsonhand | Thenetrealizablevalueistheestimatedsellingpriceoffinishedgoodslesstheestimatedsellingexpensesandrelatedtaxes. | Theinventoriesforwhichaninventoryprovisionwasrecognizedatthebeginningofthecurrentperiodhavebeenused. | Thenetrealizablevalueistheestimatedsellingpriceoffinishedgoodslesstheestimatedsellingexpensesandrelatedtaxes. |
| Othercirculatingmaterials | Thenetrealizablevalueistheestimatedsellingpriceoffinishedgoodslesstheestimatedcostofcompletion,estimatedsellingexpensesandrelatedtaxes. | Theinventoriesforwhichaninventoryprovisionwasrecognizedatthebeginningofthecurrentperiodhavebeenused. | Thenetrealizablevalueistheestimatedsellingpriceoffinishedgoodslesstheestimatedcostofcompletion,estimatedsellingexpensesandrelatedtaxes. |
13.Othercurrentassets
InRMB
| Item | Closingbalance | Openingbalance |
| Costofreturnedgoodsreceivable | 23,249,420.91 | 28,122,898.55 |
| Deductibleinputtax | 729,193,533.00 | 743,118,926.80 |
| Prepaidenterpriseincometax | 48,056,885.28 | 56,072,964.14 |
| Deferredexpensesandothers | 462,871,536.99 | 382,527,494.50 |
| Total | 1,263,371,376.18 | 1,209,842,283.99 |
16.Investmentinotherequityinstruments
InRMB
| Item | Openingbalance | Incomerecognizedinothercomprehensiveincomeinthecurrentperiod | Lossrecognizedinothercomprehensiveincomeinthecurrentperiod | Aggregateincomerecognizedinothercomprehensiveincomeattheendofthecurrentperiod | Aggregatelossrecognizedinothercomprehensiveincomeattheendofthecurrentperiod | Dividendincomerecognizedinthecurrentperiod | Closingbalance | Reasonfordesignationasatfairvaluethroughothercomprehensiveincome |
| JiangsuBohuaEquityInvestmentPartnership(L.P.) | 200,000,000.00 | 200,000,000.00 | ||||||
| HaiDixinSemiconductor(Nantong)Co.,Ltd. | 21,322,110.00 | 21,322,110.00 |
| Item | Openingbalance | Incomerecognizedinothercomprehensiveincomeinthecurrentperiod | Lossrecognizedinothercomprehensiveincomeinthecurrentperiod | Aggregateincomerecognizedinothercomprehensiveincomeattheendofthecurrentperiod | Aggregatelossrecognizedinothercomprehensiveincomeattheendofthecurrentperiod | Dividendincomerecognizedinthecurrentperiod | Closingbalance | Reasonfordesignationasatfairvaluethroughothercomprehensiveincome |
| KunshanHostarIntelligenceTechnologyCo.,Ltd. | 28,800,000.00 | 28,800,000.00 | ||||||
| DynessDigitalEnergyTechnologyCo.,Ltd. | 50,000,000.00 | 50,000,000.00 | ||||||
| ShinwuOptronics(Suzhou)Co.,Ltd. | 22,035,000.00 | 22,035,000.00 | ||||||
| JinanMoviebookCo.,Ltd. | 10,000,000.00 | 10,000,000.00 | ||||||
| ShenzhenRuoyuTechnologyCo.,Ltd. | 1,500,000.00 | 1,500,000.00 | ||||||
| Total | 333,657,110.00 | 333,657,110.00 |
Otherinformation:
Reasonfordesignationasaninvestmentinequityinstrumentsatfairvaluethroughothercomprehensiveincome
1)HaiDixinSemiconductor(Nantong)Co.,Ltd.wasestablishedonApril6,2012,witharegisteredcapitalofRMB36,152,329.00,inwhichtheCompanyholds10.2345%shares.InconsiderationthattheCompanyhasaclosebusinessrelationshipwithHaiDixinSemiconductor(Nantong)Co.,Ltd.,thesharesheldbytheCompanyinitwillhelptheCompanyimproveitsbusinesscompetenciesandtheinvestmentisnotheldfortrading,theCompanydesignatedthisinvestmentasafinancialassetatfairvaluethroughothercomprehensiveincomeonJanuary1,2019.
2)JiangsuBohuaEquityInvestmentPartnership(L.P.)wasestablishedonSeptember27,2021,witharegisteredcapitalofRMB3.3billion,andisprimarilyengagedinequityinvestmentandventurecapitalinvestment(innon-listedcompaniesonly).InconsiderationthatthisinvestmentwillbringagoodreturntotheCompanyandprovidetheCompanywithopportunitiestoinvestinpremiumfieldsandassets,andisnotheldfortrading,theCompanydesignatedthisinvestmentasafinancialassetatfairvaluethroughothercomprehensiveincome.
3)HostarIntelligenceTechnologyCo.,Ltd.wasestablishedonApril2,2011,witharegisteredcapitalofRMB42.66million,inwhichtheCompanyholds3.038%shares.InconsiderationthatthesharesheldbytheCompanyinitwillhelptheCompanyimproveitsbusinesscompetencies,includingprocuringrawmaterials/equipment,anddevelopingandstrengtheningmarketandsalesteams,andtheinvestmentisnotheldfortrading,theCompanydesignatedthisinvestmentasafinancialassetatfairvaluethroughothercomprehensiveincomeinFebruary2023.
(4)DynessDigitalEnergyTechnologyCo.,Ltd.wasestablishedonAugust17,2017,witharegisteredcapitalofRMB112,023,809,inwhichtheCompanyholds1.7016%shares.InconsiderationthatthesharesheldbytheCompanyinitwillhelptheCompanyimproveitsbusinesscompetenciesandtheinvestmentisnotheldfortrading,theCompanydesignatedthisinvestmentasafinancialassetatfairvaluethroughothercomprehensiveincomeinMarch2023.
(5)ShinwuOptronics(Suzhou)Co.,Ltd.wasestablishedonOctober19,2006,witharegisteredcapitalofRMB57,754,000,inwhichtheCompanyholds1.7169%shares.InconsiderationthatthesharesheldbytheCompanyinitwillhelptheCompanyimproveitsbusinesscompetenciesandtheinvestmentisnotheldfortrading,theCompanydesignatedthisinvestmentasafinancialassetatfairvaluethroughothercomprehensiveincomeinMay2023.
(6)JinanMoviebookCo.,Ltd.wasestablishedonSeptember6,2019,witharegisteredcapitalofRMB10,000,000,inwhichtheCompanyholds0.1995%shares.InconsiderationthatthesharesheldbytheCompanyinitwillhelptheCompanyimproveitsbusinesscompetenciesandtheinvestmentisnotheldfortrading,theCompanydesignatedthisinvestmentasafinancialassetatfairvaluethroughothercomprehensiveincomeinOctober2023.
7)ShenzhenRuoyuTechnologyCo.,Ltd.wasestablishedonApril13,2023,witharegisteredcapitalofRMB5,229,300,inwhichtheCompanyholds0.9678%shares.InconsiderationthatthesharesheldbytheCompanyinitwillhelptheCompanyimproveitsbusinesscompetenciesandtheinvestmentisnotheldfortrading,theCompanydesignatedthisinvestmentasafinancialassetatfairvaluethroughothercomprehensiveincomeinJanuary2024.
17.Long-termreceivables
(1)Particularsoflong-termreceivables
InRMB
| Item | Closingbalance | Openingbalance | Rangeofdiscountrate | ||||
| Bookbalance | Allowancefordoubtfulaccounts | Carryingvalue | Bookbalance | Allowancefordoubtfulaccounts | Carryingvalue | ||
| Securitydepositforfinancelease | 30,000,000.00 | 30,000,000.00 | 30,000,000.00 | 30,000,000.00 | |||
| Total | 30,000,000.00 | 30,000,000.00 | 30,000,000.00 | 30,000,000.00 | |||
18.Long-termequityinvestments
InRMB
| Investee | Openingbalance(carryingvalue) | Openingbalanceofallowanceforimpairmentloss | Changesinthecurrentperiod | Closingbalance(carryingvalue) | Closingbalanceofallowanceforimpairmentloss | |||||||
| Additionalinvestment | Reducedinvestment | Investmentincomeorlossunderequitymethod | Adjustmenttoothercomprehensiveincome | Otherchangesinequity | Declaredcashdividendsorprofitdistribution | Allowanceforimpairmentloss | Others | |||||
| I.Jointventures | ||||||||||||
| II.Associates | ||||||||||||
| SuzhouToprunElectricEquipmentCo.,Ltd. | 19,477,664.46 | 51,487,204.05 | 595,463.99 | 20,073,128.45 | 51,487,204.05 | |||||||
| ShenzhenNanfangBlogTechnologyDevelopmentCo.,Ltd. | 17,507,056.47 | 17,507,056.47 | ||||||||||
| ShanghaiFuShanPrecisionManufacturingCo.,Ltd. | ||||||||||||
| SuzhouLEGATEIntelligentEquipmentCorp.,Ltd. | 22,647,067.59 | -962,618.12 | 21,684,449.47 | |||||||||
| SuzhouDongcanOptoelectronicsTechnologyCo.,Ltd. | 3,316,472.49 | -448,465.91 | 2,868,006.58 | |||||||||
| JiangsuNangaoIntelligentEquipmentInnovationCenterCo.,Ltd. | 3,442,835.16 | -892,575.65 | 2,550,259.51 | |||||||||
| JiaozuoSongyangOptoelectricTechnologyCo.,Ltd. | 24,392,091.70 | -1,434,466.66 | 22,957,625.04 | |||||||||
| SuzhouYongxinJingshangVentureCapitalPartnership(L.P.) | 35,877,124.77 | -303,293.85 | 35,573,830.92 | |||||||||
| ISOTEKMICROWAVELIMITED | 8,539,424.61 | 8,539,424.61 | ||||||||||
| BVF(BVI)HoldingL.P. | 27,734,283.16 | 34,428,780.00 | 6,694,496.84 | |||||||||
| ShanghaiXinhuaruiSemiconductorTechnologyCo.,Ltd. | 18,121,256.35 | -627,940.36 | 17,493,315.99 | |||||||||
| Subtotal | 155,008,795.68 | 77,533,685.13 | 34,428,780.00 | -4,073,896.56 | 0.00 | 0.00 | 6,694,496.84 | 123,200,615.96 | 77,533,685.13 | |||
| Total | 155,008,795.68 | 77,533,685.13 | 34,428,780.00 | -4,073,896.56 | 0.00 | 0.00 | 6,694,496.84 | 123,200,615.96 | 77,533,685.13 |
20.Investmentproperties
(1)Investmentpropertiesatcost?Applicable□N/A
InRMB
| Item | Buildingsandstructures | Landuseright | Constructioninprogress | Total |
| I.Originalvalue | ||||
| 1.Openingbalance | 5,309,132.17 | 5,309,132.17 | ||
| 2.Increase | ||||
| (1)Acquired | ||||
| (2)Transferredfrominventories/fixedassets/constructioninprogress | ||||
| (3)Increasedduetobusinesscombinations |
3.Decrease
| 3.Decrease |
| (1)Disposed |
| (2)Othertransfer-out |
4.Closingbalance
| 4.Closingbalance | 5,309,132.17 | 5,309,132.17 | |
| II.Accumulateddepreciationandamortization | |||
| 1.Openingbalance | 4,528,003.07 | 4,528,003.07 | |
| 2.Increase | 127,934.34 | 127,934.34 | |
| (1)Recognizedoramortized | 127,934.34 | 127,934.34 |
3.Decrease
| 3.Decrease |
| (1)Disposed |
| (2)Othertransfer-out |
4.Closingbalance
| 4.Closingbalance | 4,655,937.41 | 4,655,937.41 | |
| III.Allowanceforimpairmentloss | |||
| 1.Openingbalance | |||
| 2.Increase | |||
| (1)Recognized |
3.Decrease
| 3.Decrease |
| (1)Disposed |
| (2)Othertransfer-out |
4.Closingbalance
| 4.Closingbalance | |||
| IV.Carryingvalue | |||
| 1.Closingbalance | 653,194.76 | 653,194.76 | |
| 2.Openingbalance | 781,129.10 | 781,129.10 |
21.Fixedassets
InRMB
| Item | Closingbalance | Openingbalance |
| Fixedassets | 15,127,797,700.57 | 13,595,191,232.40 |
| Total | 15,127,797,700.57 | 13,595,191,232.40 |
(1)Particularsoffixedassets
InRMB
| Item | Buildingsandstructures | Machineryandequipment | Transportationequipment | Officeequipmentandothers | Total |
| I.Originalvalue | |||||
| 1.Openingbalance | 5,971,211,249.44 | 21,623,751,576.31 | 99,150,719.84 | 998,293,766.67 | 28,692,407,312.26 |
| 2.Increase | 779,295,037.46 | 1,901,760,759.88 | 7,135,635.89 | 36,308,094.54 | 2,724,499,527.77 |
| (1)Acquired | 48,551,287.03 | 4,641,198.50 | 3,029,629.95 | 56,222,115.48 | |
| (2)Transferredfromconstructioninprogress | 775,161,601.80 | 1,853,990,626.22 | 2,457,370.78 | 33,160,431.44 | 2,664,770,030.24 |
| (3)Increasedduetobusinesscombinations | |||||
| (4)Differencesintranslationofforeigncurrencyfinancialstatements | 4,133,435.66 | -781,153.37 | 37,066.61 | 118,033.15 | 3,507,382.05 |
| 3.Decrease | 3,063,601.00 | 288,698,839.88 | 4,204,379.06 | 15,282,700.26 | 311,249,520.20 |
| (1)Disposedorretired | 3,063,601.00 | 288,698,839.88 | 4,204,379.06 | 15,282,700.26 | 311,249,520.20 |
| 4.Closingbalance | 6,747,442,685.90 | 23,236,813,496.31 | 102,081,976.67 | 1,019,319,160.95 | 31,105,657,319.83 |
| II.Accumulateddepreciation | |||||
| 1.Openingbalance | 2,406,383,642.12 | 11,467,372,557.00 | 61,329,692.85 | 753,698,962.63 | 14,688,784,854.60 |
| 2.Increase | 130,948,861.15 | 984,930,826.84 | 4,283,152.84 | 29,177,121.52 | 1,149,339,962.35 |
| (1)Recognized | 130,663,200.87 | 985,171,569.83 | 4,261,642.44 | 29,161,456.29 | 1,149,257,869.43 |
| (2)Differencesintranslationofforeigncurrencyfinancialstatements | 285,660.28 | -240,742.99 | 21,510.39 | 15,665.23 | 82,092.92 |
| 3.Decrease | 2,472,121.59 | 244,721,006.89 | 3,028,884.38 | 14,559,037.43 | 264,781,050.29 |
| (1)Disposedorretired | 2,472,121.59 | 244,721,006.89 | 3,028,884.38 | 14,559,037.43 | 264,781,050.29 |
| 4.Closingbalance | 2,534,860,381.68 | 12,207,582,376.95 | 62,583,961.31 | 768,317,046.72 | 15,573,343,766.66 |
| III.Allowanceforimpairmentloss | |||||
| 1.Openingbalance | 4,570,236.72 | 402,994,252.96 | 866,735.58 | 408,431,225.26 | |
| 2.Increase | |||||
| (1)Recognized |
3.Decrease
| 3.Decrease | 3,915,372.66 | 3,915,372.66 | ||
| (1)Disposedorretired | 3,915,372.66 | 3,915,372.66 |
4.Closingbalance
| 4.Closingbalance | 4,570,236.72 | 399,078,880.30 | 866,735.58 | 404,515,852.60 | |
| IV.Carryingvalue |
| 1.Closingbalance | 4,208,012,067.50 | 10,630,152,239.06 | 39,498,015.36 | 250,135,378.65 | 15,127,797,700.57 |
| 2.Openingbalance | 3,560,257,370.60 | 9,753,384,766.35 | 37,821,026.99 | 243,728,068.46 | 13,595,191,232.40 |
(2)Fixedassetswhosepropertytitlecertificateshavenotyetbeenobtained
InRMB
| Item | Carryingvalue | Reasonfornotobtainingthepropertytitlecertificate |
| FactorybuildingsofMultek | 17,028,482.99 | Pendingreview |
22.Constructioninprogress
InRMB
| Item | Closingbalance | Openingbalance |
| Constructioninprogress | 2,440,814,349.98 | 2,575,154,318.35 |
| Total | 2,440,814,349.98 | 2,575,154,318.35 |
(1)Particularsofconstructioninprogress
InRMB
| Item | Closingbalance | Openingbalance | ||||
| Bookbalance | Allowanceforimpairmentloss | Carryingvalue | Bookbalance | Allowanceforimpairmentloss | Carryingvalue | |
| InfrastructureconstructionofthefactoryforMulti-layerCircuitBoardCo.,Ltd. | 1,273,074,593.03 | 1,273,074,593.03 | 1,228,168,131.58 | 1,228,168,131.58 | ||
| ICsubstrateprojectofChaoweiMicroelectronics(Yancheng)Co.,Ltd. | 1,189,500.00 | 1,189,500.00 | 10,009,858.49 | 10,009,858.49 | ||
| Large-sizeddie-castingprojectofYanchengDongchuang | 181,161,603.11 | 181,161,603.11 | 178,439,112.27 | 178,439,112.27 | ||
| Kunshannewenergymanufacturingbase-relatedproject | 152,296,411.93 | 152,296,411.93 | 395,279,797.72 | 395,279,797.72 | ||
| Mexiconewenergymanufacturingbase-relatedproject | 48,535,899.71 | 48,535,899.71 | 7,184,449.96 | 7,184,449.96 | ||
| MFLEXYanchengPhaseIIproject | 158,163,871.98 | 158,163,871.98 | 125,744,191.31 | 125,744,191.31 | ||
| MFLEXSuzhouGuoxiangPhaseIIandotherproductionexpansionprojects | 73,751,304.62 | 73,751,304.62 | 160,977,750.57 | 160,977,750.57 | ||
| Installation | 552,641,165.60 | 552,641,165.60 | 469,351,026.45 | 469,351,026.45 | ||
| equipmentinprogressandothers | ||||||
| Total | 2,440,814,349.98 | 2,440,814,349.98 | 2,575,154,318.35 | 2,575,154,318.35 |
(2)Changesinsignificantconstructionsinprogressinthecurrentperiod
InRMB
| Item | Budget | Openingbalance | Increaseinthecurrentperiod | Amounttransferredtofixedassets | Otherdecreases | Closingbalance | %ofprojectcoststothebudget | Progress | Aggregateamountofcapitalizedinterest | Incl.:Capitalizedinterestthisyear | Rateofinterestcapitalizationthisyear | Sourceoffunds |
| InfrastructureconstructionofthefactoryforMulti-layerCircuitBoardCo.,Ltd. | 1,875,000,000.00 | 1,220,700,181.42 | 653,625,000.00 | 601,250,588.39 | 1,273,074,593.03 | 100.00% | 90.00% | 1,546,813.42 | 1,205,512.00 | Others | ||
| Kunshannewenergymanufacturingbaseproject | 1,800,000,000.00 | 395,279,797.72 | 68,051,771.84 | 279,258,678.85 | 31,776,478.78 | 152,296,411.93 | 81.20% | 81.20% | 7,229,036.37 | Others | ||
| Large-sizeddie-castingprojectofYanchengDongchuang | 1,500,000,000.00 | 178,439,112.27 | 86,100,000.00 | 59,417,183.93 | 23,960,325.23 | 181,161,603.11 | 100.00% | 95.00% | 16,528,462.27 | 91,094.25 | ||
| Total | 5,175,000,000.00 | 1,794,419,091.41 | 807,776,771.84 | 939,926,451.17 | 55,736,804.01 | 1,606,532,608.07 | 25,304,312.06 | 1,296,606.25 |
25.Right-of-useassets
(1)Particularsofright-of-useassets
InRMB
| Item | Buildingsandstructures | Machineryandequipment | Transportationequipment | Land | Total |
| I.Originalvalue | |||||
| 1.Openingbalance | 1,513,376,667.44 | 30,676,878.28 | 93,200,186.63 | 1,637,253,732.35 | |
| 2.Increase | 18,183,852.73 | 18,183,852.73 | |||
| 1)Leased | 15,336,823.65 | 15,336,823.65 | |||
| 2)Transferredfromconstructioninprogress | |||||
| 3)Differencesintranslationofforeigncurrencyfinancialstatements | 2,847,029.08 | 2,847,029.08 | |||
| 4)Increasedduetobusinesscombinations | |||||
| 3.Decrease | 31,587,193.16 | 31,587,193.16 |
| 1)Disposed | 31,587,193.16 | 31,587,193.16 | |||
| 2)Transferredtofixedassets | |||||
| 4.Closingbalance | 1,499,973,327.01 | 30,676,878.28 | 93,200,186.63 | 1,623,850,391.92 | |
| II.Accumulateddepreciation | |||||
| 1.Openingbalance | 312,079,420.58 | 2,914,303.50 | 8,483,709.14 | 323,477,433.22 | |
| 2.Increase | 39,073,998.42 | 971,434.51 | 741,298.38 | 40,786,731.31 | |
| (1)Recognized | 38,549,638.96 | 971,434.51 | 741,298.38 | 40,262,371.85 | |
| 2)Differencesintranslationofforeigncurrencyfinancialstatements | 524,359.46 | 524,359.46 | |||
| 3)Increasedduetobusinesscombinations | |||||
| 3.Decrease | 31,587,193.16 | 31,587,193.16 | |||
| (1)Disposed | 31,587,193.16 | 31,587,193.16 | |||
| 2)Acquisitionofassetsunderfinancelease | |||||
| 4.Closingbalance | 319,566,225.84 | 3,885,738.01 | 9,225,007.52 | 332,676,971.37 | |
| III.Allowanceforimpairmentloss | |||||
| 1.Openingbalance | |||||
| 2.Increase | |||||
| (1)Recognized |
3.Decrease
| 3.Decrease |
| (1)Disposed |
4.Closingbalance
| 4.Closingbalance | |||||
| IV.Carryingvalue | |||||
| 1.Closingbalance | 1,180,407,101.17 | 26,791,140.27 | 83,975,179.11 | 1,291,173,420.55 | |
| 2.Openingbalance | 1,201,297,246.86 | 27,762,574.78 | 84,716,477.49 | 1,313,776,299.13 |
26.Intangibleassets
(1)Particularsofintangibleassets
InRMB
| Item | Landuseright | Patent | Unpatentedtechnology | Software | Trademarksandpatents | Developmentexpenses | Customerresources | Total |
| I.Originalvalue | ||||||||
| 1.Openingbalance | 775,959,155.42 | 411,964,161.42 | 154,881,057.21 | 6,733,029.45 | 207,803,629.23 | 1,557,341,032.73 | ||
| 2. | 3,787,072.46 | 20,969,307.84 | -1,490.03 | 24,754,890.26 |
| Increase | ||||||
| (1)Acquired | 1,224,851.37 | 1,224,851.37 | ||||
| (2)InternalR&D | ||||||
| (3)Increasedduetobusinesscombinations | ||||||
| (4)Differencesintranslationofforeigncurrencyfinancialstatements | 3,787,072.46 | -32,078.77 | -1,490.03 | 3,753,503.66 | ||
| (5)Transferredfromconstructioninprogress | 0.00 | 19,776,535.23 | 19,776,535.23 | |||
| (6)Transferredfrominventories | ||||||
| 3.Decrease | 11,760,311.35 | 11,760,311.35 | ||||
| (1)Disposed | 11,760,311.35 | 11,760,311.35 |
4.Closingbalance
| 4.Closingbalance | 779,746,227.88 | 421,173,157.91 | 154,879,567.18 | 6,733,029.45 | 207,803,629.23 | 1,570,335,611.64 | |
| II.Accumulatedamortization | |||||||
| 1.Openingbalance | 110,389,681.79 | 322,949,202.16 | 114,845,957.06 | 6,733,029.45 | 39,829,028.93 | 594,746,899.39 | |
| 2.Increase | 8,081,929.96 | 27,451,667.78 | 7,679,797.60 | 0.00 | 10,390,181.46 | 53,603,576.80 | |
| (1)Recognized | 8,081,929.96 | 27,546,315.63 | 7,889,644.30 | 10,390,181.46 | 53,908,071.35 | ||
| 2)Increasedduetobusinesscombinations |
| 3)Differencesintranslationofforeigncurrencyfinancialstatements | -94,647.86 | -209,846.70 | -304,494.55 | ||
| 3.Decrease | 11,696,218.55 | 11,696,218.55 | |||
| (1)Disposed | 11,696,218.55 | 11,696,218.55 |
4.Closingbalance
| 4.Closingbalance | 118,471,611.75 | 338,704,651.39 | 122,525,754.67 | 6,733,029.45 | 50,219,210.39 | 636,654,257.64 | |
| III.Allowanceforimpairmentloss | |||||||
| 1.Openingbalance | |||||||
| 2.Increase | |||||||
| (1)Recognized |
3.Decrease
| 3.Decrease |
| (1)Disposed |
4.Closingbalance
| 4.Closingbalance | |||||||
| IV.Carryingvalue | |||||||
| 1.Closingbalance | 661,274,616.13 | 82,468,506.52 | 32,353,812.51 | 157,584,418.84 | 933,681,354.00 | ||
| 2.Openingbalance | 665,569,473.63 | 89,014,959.26 | 40,035,100.15 | 167,974,600.30 | 962,594,133.34 |
27.Goodwill
(1)Originalvalueofgoodwill
InRMB
| Investeeoreventgivingrisetogoodwill | Openingbalance | Increaseofthecurrentperiod | Decreaseofthecurrentperiod | Closingbalance | ||
| Arisingfrombusinesscombination | Disposed | |||||
| MFLEX | 1,770,752,915.84 | 1,770,752,915.84 | ||||
| Multek | 179,329,062.90 | 179,329,062.90 | ||||
| MuttoOptronicsTechnologyCo.,Ltd. | 153,957,647.78 | 153,957,647.78 | ||||
| SuzhouRFTopElectronicCommunicationCo.,Ltd. | 135,001,580.53 | 135,001,580.53 | ||||
| Arandaassetgroup | 50,502,380.96 | 50,502,380.96 | ||||
| Total | 2,289,543,588.01 | 2,289,543,588.01 | ||||
(2)Allowanceforimpairmentofgoodwill
InRMB
| Investeeoreventgivingrisetogoodwill | Openingbalance | Increaseofthecurrentperiod | Decreaseofthecurrentperiod | Closingbalance | ||
| Recognized | Others | Disposed | Others | |||
| MuttoOptronicsTechnologyCo.,Ltd. | 115,869,337.30 | 115,869,337.30 | ||||
| SuzhouRFTopElectronicCommunicationCo.,Ltd. | 45,697,934.17 | 45,697,934.17 | ||||
| Aranda | 8,364,096.07 | 2,181,938.11 | 10,546,034.18 | |||
| Total | 169,931,367.54 | 2,181,938.11 | 172,113,305.65 | |||
28.Long-termdeferredexpenses
InRMB
| Item | Openingbalance | Increaseinthecurrentperiod | Amortization | Otherdecreases | Closingbalance |
| Decorationcostsoffixedassetsandothers | 903,599,713.89 | 131,747,109.42 | 137,179,890.99 | 898,166,932.32 | |
| Total | 903,599,713.89 | 131,747,109.42 | 137,179,890.99 | 898,166,932.32 |
29.Deferredtaxassets/deferredtaxliabilities
(1)Deferredtaxassetsnotoffset
InRMB
| Item | Closingbalance | Openingbalance | ||
| Deductibletemporarydifferences | Deferredtaxassets | Deductibletemporarydifferences | Deferredtaxassets | |
| Allowanceforimpairmentofassets | 1,155,006,810.95 | 181,826,515.01 | 1,324,692,293.90 | 205,243,454.52 |
| Deductiblelosses | 2,498,816,122.90 | 390,997,797.38 | 2,300,687,978.39 | 362,521,218.64 |
| Differenceindepreciationoffixedassets | 68,003,312.54 | 16,596,518.87 | 56,738,475.07 | 13,329,567.82 |
| Leaseliabilities | 1,525,373,381.98 | 244,497,468.07 | 1,425,266,733.21 | 229,432,313.12 |
| Unrealizedgains/lossesfrominter-companytransactions | 208,579,495.67 | 43,674,310.77 | 276,240,960.60 | 57,088,993.26 |
| Changeinthefairvalueoffinancialinstruments | 5,269,420.00 | 1,317,355.00 | 9,096,191.75 | 1,953,655.94 |
| Deferredincome | 633,117,334.21 | 102,172,643.62 | 522,365,262.99 | 85,669,295.35 |
| Accruedexpenses | 677,931,859.60 | 63,708,911.34 | 698,231,909.28 | 112,291,672.83 |
| Total | 6,464,197,282.65 | 1,044,791,520.06 | 6,613,319,805.19 | 1,067,530,171.48 |
(2)Deferredtaxliabilitiesnotoffset
InRMB
| Item | Closingbalance | Openingbalance | ||
| Taxabletemporarydifferences | Deferredtaxliabilities | Taxabletemporarydifferences | Deferredtaxliabilities | |
| One-offdeductionofdepreciationoffixedassets | 2,496,862,543.43 | 535,258,142.35 | 2,569,191,598.13 | 523,588,207.16 |
| Accruedinterestincomeandothers | 77,263,857.62 | 16,246,088.90 | 89,930,966.31 | 19,085,788.45 |
| Right-of-useassets | 1,327,235,365.51 | 212,829,826.28 | 1,403,935,934.81 | 241,292,708.42 |
| Incometaxpayableduetoincreaseinappraisedvalue | 335,063,194.43 | 76,207,388.46 | 351,178,186.24 | 79,872,611.80 |
| Total | 4,236,424,960.99 | 840,541,445.99 | 4,414,236,685.49 | 863,839,315.83 |
(3)Deferredtaxassetsanddeferredtaxliabilitiespresentedonanettingbasis
InRMB
| Item | Closingoffsetamountofdeferredtaxassetsandliabilities | Closingbalanceofdeferredtaxassetsorliabilitiesafteroffset | Openingoffsetamountofdeferredtaxassetsandliabilities | Openingbalanceofdeferredtaxassetsorliabilitiesafteroffset |
| Deferredtaxassets | 212,952,559.99 | 831,838,960.07 | 233,079,559.40 | 834,450,612.08 |
| Deferredtaxliabilities | 212,952,559.99 | 627,588,885.99 | 233,079,559.40 | 630,759,756.43 |
(4)Unrecognizeddeferredtaxassets
InRMB
| Item | Closingbalance | Openingbalance |
| Deductibletemporarydifferences | 456,888,418.24 | 660,868,902.87 |
| Deductiblelosses | 871,178,092.69 | 701,671,666.45 |
| Total | 1,328,066,510.93 | 1,362,540,569.32 |
(5)Deductiblelossesonunrecognizeddeferredtaxassetsthatwillexpireinthefollowingyears
InRMB
| Year | Closingbalance | Openingbalance | Remark |
| 2025 | 100,804,003.97 | 100,804,003.97 | |
| 2026 | 39,377,012.01 | 39,377,012.01 | |
| 2027 | 265,972,000.92 | 265,972,000.92 | |
| 2028 | 24,218,073.84 | 24,218,073.84 | |
| 2029 | 271,300,575.71 | 271,300,575.71 | |
| 2030 | 169,506,426.24 | ||
| Total | 871,178,092.69 | 701,671,666.45 |
30.Othernon-currentassets
InRMB
| Item | Closingbalance | Openingbalance | ||||
| Bookbalance | Allowanceforimpairmentloss | Carryingvalue | Bookbalance | Allowanceforimpairmentloss | Carryingvalue | |
| Deferredincome–unrealizedgainorlossonsaleandleaseback | 16,101,914.52 | 16,101,914.52 | 19,414,150.16 | 19,414,150.16 | ||
| Prepaymentforprojectsandequipment | 544,336,942.56 | 544,336,942.56 | 493,140,601.21 | 493,140,601.21 | ||
| Total | 560,438,857.08 | 560,438,857.08 | 512,554,751.37 | 512,554,751.37 | ||
31.Assetssubjecttorestrictionsonownershiporrightofuse
InRMB
| Item | Closingbalance | Openingbalance | ||||||
| Bookbalance | Carryingvalue | Typeofrestriction | Reasonofrestriction | Bookbalance | Carryingvalue | Typeofrestriction | Reasonofrestriction | |
| Cashandbankbalances | 1,311,394,704.02 | 1,311,394,704.02 | Pledge | Securitydepositfornotes,etc. | 1,828,730,869.92 | 1,828,730,869.92 | Pledge | Securitydepositfornotes,etc. |
| Fixedassets | 690,336,250.99 | 190,880,378.32 | Mortgage | Securityforloans,salesandleaseback | ||||
| Accountsreceivable | 130,000,000.00 | 130,000,000.00 | Pledge | Factoring | 90,000,000.00 | 90,000,000.00 | Pledge | Factoring |
| Accountsreceivablefinancing | 51,194,067.17 | 51,194,067.17 | Pledge | Pledgeofnotes | 47,745,743.70 | 47,745,743.70 | Pledge | Pledgeofnotes |
| Right-of-useassets | 1,623,850,391.92 | 1,291,173,420.55 | Mortgage | Financelease | 1,582,499,405.56 | 1,258,999,636.74 | Mortgage | Financelease |
| Total | 3,116,439,163.11 | 2,783,762,191.74 | 4,239,312,270.17 | 3,416,356,628.68 | ||||
32.Short-termborrowings
(1)Short-termborrowingsbycategory
InRMB
| Item | Closingbalance | Openingbalance |
| Creditloans | 4,661,275,581.96 | 3,857,114,689.19 |
| Discountingandfactoringofnotes,lettersofcreditandaccountsreceivable | 1,138,127,726.60 | 953,839,441.50 |
| Total | 5,799,403,308.56 | 4,810,954,130.69 |
33.Financialliabilitiesheldfortrading
InRMB
| Item | Closingbalance | Openingbalance |
| Financialliabilitiesheldfortrading | 71,586,000.00 | 82,922,390.17 |
| Incl.: | ||
| Derivativefinancialliabilities | 71,586,000.00 | 82,922,390.17 |
| Incl.: | ||
| Total | 71,586,000.00 | 82,922,390.17 |
35.Notespayable
InRMB
| Category | Closingbalance | Openingbalance |
| Commercialacceptancebills | 77,661,962.71 | 10,677,710.87 |
| Banker’sacceptancebills | 856,968,183.37 | 924,903,561.63 |
| Total | 934,630,146.08 | 935,581,272.50 |
36.Accountspayable
(1)Accountspayable
InRMB
| Item | Closingbalance | Openingbalance |
| Paymentformaterials | 6,031,733,001.88 | 6,934,434,355.01 |
| Paymentforprojectsandequipment | 2,570,853,408.93 | 2,235,670,994.79 |
| Others | 479,765,837.90 | 489,163,640.63 |
| Total | 9,082,352,248.71 | 9,659,268,990.43 |
37.Otherpayables
InRMB
| Item | Closingbalance | Openingbalance |
| Otherpayables | 96,940,026.12 | 94,163,223.90 |
| Total | 96,940,026.12 | 94,163,223.90 |
(3)Otherpayables
1)Otherpayablesbynature
InRMB
| Item | Closingbalance | Openingbalance |
| Temporaryreceiptspayable | 55,152,281.25 | 54,101,772.81 |
| Others | 41,787,744.87 | 40,061,451.09 |
| Total | 96,940,026.12 | 94,163,223.90 |
39.Contractliabilities
InRMB
| Item | Closingbalance | Openingbalance |
| Paymentforgoods | 172,934,050.12 | 122,562,435.14 |
| Total | 172,934,050.12 | 122,562,435.14 |
40.Employeebenefitspayable
(1)Employeebenefitspayable
InRMB
| Item | Openingbalance | Increaseofthecurrentperiod | Decreaseofthecurrentperiod | Closingbalance |
| I.Short-termbenefits | 578,999,821.65 | 2,227,673,351.14 | 2,379,047,845.18 | 427,625,327.61 |
| II.Post-employmentbenefits–definedcontributionplans | 15,291,550.45 | 159,426,681.36 | 156,735,164.47 | 17,983,067.34 |
| III.Terminationbenefits | 3,281,714.92 | 3,765,663.25 | 6,615,863.22 | 431,514.95 |
| Total | 597,573,087.02 | 2,390,865,695.75 | 2,542,398,872.87 | 446,039,909.90 |
(2)Short-termemployeebenefits
InRMB
| Item | Openingbalance | Increaseofthecurrentperiod | Decreaseofthecurrentperiod | Closingbalance |
| 1.Wages,bonuses,allowancesandsubsidies | 566,785,511.31 | 1,935,416,158.89 | 2,081,588,193.69 | 420,613,476.51 |
| 2.Staffwelfare | 103,265,715.69 | 103,265,715.69 |
| 3.Socialinsurancecontributions | 7,520,834.55 | 65,027,653.26 | 68,881,115.88 | 3,667,371.93 |
| 4.Workers’compensationinsurance | 410,769.36 | 4,803,489.82 | 4,941,028.14 | 273,231.04 |
| 5.Medicalandmaternityinsurance | 7,110,065.19 | 60,224,163.44 | 63,940,087.74 | 3,394,140.89 |
| 6.Housingprovidentfund | 2,837,418.06 | 119,551,753.58 | 120,774,839.31 | 1,614,332.33 |
| 7.Tradeunionfundandemployeeeducationfund | 1,856,057.73 | 4,412,069.72 | 4,537,980.61 | 1,730,146.84 |
| Total | 578,999,821.65 | 2,227,673,351.14 | 2,379,047,845.18 | 427,625,327.61 |
(3)Definedcontributionplans
InRMB
| Item | Openingbalance | Increaseofthecurrentperiod | Decreaseofthecurrentperiod | Closingbalance |
| 1.Basicpensioninsurance | 14,661,431.85 | 153,562,124.48 | 150,910,218.26 | 17,313,338.07 |
| 2.Unemploymentinsurance | 630,118.60 | 5,864,556.88 | 5,824,946.21 | 669,729.27 |
| Total | 15,291,550.45 | 159,426,681.36 | 156,735,164.47 | 17,983,067.34 |
41.Taxespayable
InRMB
| Item | Closingbalance | Openingbalance |
| Value-addedtax | 4,163,790.76 | 20,674,711.21 |
| Enterpriseincometax | 281,944,315.43 | 342,390,303.11 |
| Individualincometax | 9,101,590.50 | 9,277,024.93 |
| Urbanmaintenanceandconstructiontax | 3,757,888.89 | 4,101,006.65 |
| Propertytax | 10,130,006.87 | 7,364,518.95 |
| Stampduty | 4,779,267.60 | 5,657,390.62 |
| Educationsurcharge | 1,632,642.07 | 1,878,074.57 |
| Landusetax | 457,598.42 | 367,722.10 |
| Localeducationsurcharge | 1,091,242.98 | 1,252,049.72 |
| Othertaxes | 2,388,533.95 | 2,809,325.90 |
| Total | 319,446,877.47 | 395,772,127.76 |
43.Non-currentliabilitiesduewithinoneyear
InRMB
| Item | Closingbalance | Openingbalance |
| Long-termborrowingsduewithinoneyear | 2,355,931,635.64 | 2,327,145,419.12 |
| Leaseliabilitiesduewithinoneyear | 137,320,782.66 | 131,841,882.24 |
| Total | 2,493,252,418.30 | 2,458,987,301.36 |
44.Othercurrentliabilities
InRMB
| Item | Closingbalance | Openingbalance |
| Outputtaxtoberecognized | 3,133,052.29 | 5,190,838.21 |
| Total | 3,133,052.29 | 5,190,838.21 |
45.Long-termborrowings
(1)Long-termborrowingsbycategory
InRMB
| Item | Closingbalance | Openingbalance |
| Pledgeloans | 438,290,766.67 | 714,721,945.32 |
| Creditloans | 4,216,735,296.23 | 4,470,332,834.45 |
| Mortgageandguaranteedloans | 50,056,250.00 | 104,133,111.56 |
| Total | 4,705,082,312.90 | 5,289,187,891.33 |
47.Leaseliabilities
InRMB
| Item | Closingbalance | Openingbalance |
| Leaseobligationspayable | 1,444,540,952.70 | 1,456,822,089.69 |
| Less:Unrecognizedfinancingcosts | -56,488,353.38 | -105,303,252.51 |
| Total | 1,388,052,599.32 | 1,351,518,837.18 |
48.Long-termpayables
InRMB
| Item | Closingbalance | Openingbalance |
| Long-termpayables | 27,754,051.05 | 49,434,786.31 |
| Total | 27,754,051.05 | 49,434,786.31 |
(1)Long-termpayablesbynature
InRMB
| Item | Closingbalance | Openingbalance |
| Sharepurchaseprice | 27,754,051.05 | 49,434,786.31 |
50.Provisions
InRMB
| Item | Closingbalance | Openingbalance | Reasonforformation |
| Productwarranty | 15,907,892.68 | 30,534,014.56 | |
| Provisionforsalesreturn | 23,570,994.49 | 27,724,858.36 | |
| Total | 39,478,887.17 | 58,258,872.92 |
51.Deferredincome
InRMB
| Item | Openingbalance | Increaseofthecurrentperiod | Decreaseofthecurrentperiod | Closingbalance | Reasonforformation |
| Governmentgrants | 585,933,889.89 | 270,238,750.00 | 107,132,163.18 | 749,040,476.71 | Governmentgrants |
| Total | 585,933,889.89 | 270,238,750.00 | 107,132,163.18 | 749,040,476.71 |
53.Sharecapital
InRMB
| Openingbalance | Change(+/-) | Closingbalance | |||||
| Newshares | Bonusshares | Capitalizationofcapitalreserves | Others | Subtotal | |||
| Totalshares | 1,705,913,710.00 | 125,693,822.00 | 125,693,822.00 | 1,831,607,532.00 | |||
Otherinformation:WiththeapprovalofShenzhenStockExchangeandCSRC,the125,693,822RMB-denominatedordinarysharesissuedbytheCompanyattheissuancepriceofRMB11.17persharewerelistedonShenzhenStockExchangeonJune27,2025;aftertheissuance,thetotalsharesoftheCompanyincreasedfrom1,705,913,710sharesto1,831,607,532shares.
55.Capitalreserve
InRMB
| Item | Openingbalance | Increaseofthecurrentperiod | Decreaseofthecurrentperiod | Closingbalance |
| Capitalpremium(sharepremium) | 7,850,787,182.40 | 1,265,818,722.73 | 9,116,605,905.13 | |
| Othercapitalreserve | 141,497,253.43 | 141,497,253.43 | ||
| Total | 7,992,284,435.83 | 1,265,818,722.73 | 9,258,103,158.56 |
Otherinformation(includingadescriptionofthechangeinthecurrentperiodandthereasonsforthechange):ThechangeinthecapitalreserveinthecurrentperiodisthecapitalpremiumarisingfromthenewissuanceofsharesbytheCompany.
56.Treasuryshares
InRMB
| Item | Openingbalance | Increaseofthecurrentperiod | Decreaseofthecurrentperiod | Closingbalance |
| Treasuryshares | 74,991,696.79 | 100,084,437.00 | 175,076,133.79 | |
| Total | 74,991,696.79 | 100,084,437.00 | 175,076,133.79 |
Otherinformation:OnApril9,2025,weheldthe18
th
meetingofthe6
th
BoardofDirectors,atwhichtheProposalonRepurchaseoftheCompany’sShareswasdeliberatedandapproved,agreeingtouseraisedfundsorotherlawfulfundstorepurchasetheRMB-
denominatedordinaryshares(A-shares)issuedbytheCompanythroughtheShenzhenStockExchangebyaggregateauctionforthepurposeofemployeestockownershipplansorequityincentives.ThetotalrepurchasefundsshallrangefromRMB100million(inclusive)toRMB200million(inclusive),andtherepurchasepriceshallnotexceedRMB48.78pershare.AsofMay6,2025,thissharerepurchaseplanshasbeenfullyimplemented,underwhichwehaverepurchasedatotalof4.2022millionsharesoftheCompany,accountingfor0.2463%oftheCompany’stotalsharecapital,wherethehighesttradingpricewasRMB25.95pershare,thelowesttradingpricewasRMB23.27pershare,andthetotaltransactionamountwasRMB100.0844million(excludingtransactionfees).Theabove-mentionedsharerepurchasecomplieswiththeprovisionsoflawsandregulationsandoursharerepurchaseplan.
57.Othercomprehensiveincome
InRMB
| Item | Openingbalance | Amountofthecurrentperiod | Closingbalance | |||||
| Amountbeforetax | Less:Othercomprehensiveincomereclassifiedtoprofitorloss | Less:Othercomprehensiveincomereclassifiedtoretainedearnings | Less:Incometaxexpenses | Amountattributabletotheparentaftertax | Amountattributabletominorinterestaftertax | |||
| II.Othercomprehensiveincomethatwillbereclassifiedtoprofitorloss | -317,104,374.08 | 111,503,228.29 | -5,553,254.12 | 4,359,135.53 | 112,697,346.88 | -204,407,027.20 | ||
| Reservesforcashflowhedge | -4,428,972.92 | 19,359,276.79 | -5,553,254.12 | 4,359,135.53 | 20,553,395.38 | 16,124,422.46 | ||
| Differencesinthetranslationofforeigncurrencyfinancialstatements | -312,675,401.16 | 92,143,951.50 | 92,143,951.50 | -220,531,449.66 | ||||
| Totalothercomprehensiveincome | -317,104,374.08 | 111,503,228.29 | -5,553,254.12 | 4,359,135.53 | 112,697,346.88 | -204,407,027.20 | ||
59.Surplusreserve
InRMB
| Item | Openingbalance | Increaseofthecurrentperiod | Decreaseofthecurrentperiod | Closingbalance |
| Statutorysurplusreserve | 232,241,216.54 | 232,241,216.54 | ||
| Total | 232,241,216.54 | 232,241,216.54 |
60.Retainedprofits
InRMB
| Item | Currentperiod | Previousperiod |
| Balanceofretainedprofitsattheendofthepreviousperiodbeforeadjustment | 9,288,043,977.88 | 9,025,095,529.05 |
| Openingbalanceofretainedprofitsafteradjustment | 9,288,043,977.88 | 9,025,095,529.05 |
| Add:Netprofitattributabletoownersoftheparent | 758,005,980.61 | 1,085,641,847.89 |
| Less:Appropriationtostatutorysurplusreserve | 47,374,346.81 | |
| Dividendspayabletotheordinaryshareholders | 118,795,180.63 | 425,319,052.25 |
| Transferofothercomprehensiveincometoretainedearnings | 350,000,000.00 | |
| Closingbalanceofretainedprofits | 9,927,254,777.86 | 9,288,043,977.88 |
61.Operatingrevenueandoperatingcosts
InRMB
| Item | Amountofthecurrentperiod | Amountofthepreviousperiod | ||
| Revenue | Cost | Revenue | Cost | |
| Primarybusiness | 16,756,004,204.58 | 14,521,655,805.67 | 16,521,772,107.69 | 14,408,130,744.18 |
| Otherbusinesses | 199,159,694.31 | 128,843,430.23 | 106,814,087.87 | 47,564,313.33 |
| Total | 16,955,163,898.89 | 14,650,499,235.90 | 16,628,586,195.56 | 14,455,695,057.51 |
62.Taxesandsurcharges
InRMB
| Item | Amountofthecurrentperiod | Amountofthepreviousperiod |
| Urbanmaintenanceandconstructiontax | 18,294,832.19 | 39,773,020.05 |
| Educationsurcharge | 8,129,157.99 | 17,685,634.63 |
| Propertytax | 19,592,855.42 | 15,390,414.84 |
| Landusetax | 809,767.30 | 957,701.07 |
| Vehicleandvesseltax | 911,806.51 | 837,678.42 |
| Stampduty | 10,463,237.65 | 10,533,280.44 |
| Environmentalprotectiontax | 104,860.32 | 346,386.74 |
| Localeducationsurcharge | 5,419,438.62 | 11,790,423.12 |
| Total | 63,725,956.00 | 97,314,539.31 |
63.Administrativeexpenses
InRMB
| Item | Amountofthecurrentperiod | Amountofthepreviousperiod |
| Employeebenefits | 279,943,684.74 | 280,930,019.51 |
| Depreciationandamortization | 85,690,889.77 | 78,433,107.26 |
| Consultingservicefees | 54,212,094.87 | 35,623,428.59 |
| Officeexpenses | 12,439,068.14 | 17,832,051.29 |
| Businessentertainmentexpenses | 24,124,672.26 | 22,812,086.03 |
| Travelexpenses | 11,634,664.08 | 8,598,359.09 |
| Rents | 4,656,698.12 | 5,215,929.06 |
| Repaircosts | 14,159,167.98 | 12,620,656.93 |
| Taxes | 1,390,536.14 | 1,039,457.29 |
| Others | 59,310,463.39 | 50,826,923.33 |
| Total | 547,561,939.49 | 513,932,018.38 |
64.Sellingexpenses
InRMB
| Item | Amountofthecurrentperiod | Amountofthepreviousperiod |
| Employeebenefits | 101,851,337.61 | 108,354,693.68 |
| Salesservicefees | 26,670,103.77 | 34,177,964.33 |
| Exportcharges | 10,789,463.58 | 12,199,315.29 |
| Travelexpenses | 6,471,965.00 | 6,760,920.66 |
| Businessentertainmentexpenses | 10,534,099.66 | 10,223,544.60 |
| Others | 1,625,635.45 | 26,744,973.09 |
| Total | 157,942,605.07 | 198,461,411.65 |
65.R&Dexpenses
InRMB
| Item | Amountofthecurrentperiod | Amountofthepreviousperiod |
| Materialsrequisitioned | 250,520,190.78 | 284,790,576.60 |
| Laborcosts | 261,695,815.23 | 267,132,170.20 |
| Depreciation | 45,720,954.81 | 45,587,062.83 |
| Others | 23,530,506.11 | 24,713,799.36 |
| Total | 581,467,466.93 | 622,223,608.99 |
66.Financialexpenses
InRMB
| Item | Amountofthecurrentperiod | Amountofthepreviousperiod |
| Interestexpenses | 159,944,331.53 | 193,330,353.30 |
| Interestonleasesandfinancingservicefees | 38,641,393.51 | 36,422,307.24 |
| Less:Interestincome | 113,967,483.54 | 141,164,259.09 |
| Add:Exchangeloss | -64,646,445.89 | -125,881,081.93 |
| Bankchargesandothers | 9,575,162.86 | 9,751,760.34 |
| Total | 29,546,958.47 | -27,540,920.14 |
67.Otherincome
InRMB
| Sourcesofotherincome | Amountofthecurrentperiod | Amountofthepreviousperiod |
| Governmentgrantsrelatedtoassets | 107,132,163.18 | 79,531,306.68 |
| Governmentgrantsrelatedtoincome | 29,188,043.87 | 66,248,136.43 |
| Value-addedtaxcredits | 24,380,280.26 | |
| Taxpreferences | 3,613,741.39 | 5,260,420.66 |
| Refundofindividualincometaxwithholdingservicefees | 1,384,264.19 | 991,704.86 |
69.Gainonchangesinfairvalue
InRMB
| Sourceofgainonchangesinfairvalue | Amountofthecurrentperiod | Amountofthepreviousperiod |
| Financialassetsheldfortrading | 2,536,226.77 | -15,065,635.92 |
| Total | 2,536,226.77 | -15,065,635.92 |
70.Investmentincome
InRMB
| Item | Amountofthecurrentperiod | Amountofthepreviousperiod |
| Incomefromlong-termequityinvestmentsundertheequitymethod | -4,073,896.56 | -4,311,831.51 |
| Investmentincomefromthedisposaloflong-termequityinvestments | -4,851,794.93 | |
| Investmentincomefromthedisposaloffinancialassetsheldfortrading | 3,056,572.49 | -43,948,067.47 |
| Incomefromdebtrestructuring | 2,062,881.90 | |
| Discountlossonaccountsreceivablefinancing | -832,884.08 | -3,082,914.57 |
| Incomefrombankwealthmanagementproducts | 855,961.44 | |
| Total | -6,702,003.08 | -48,423,970.21 |
71.Creditimpairmentloss
InRMB
| Item | Amountofthecurrentperiod | Amountofthepreviousperiod |
| Lossfromdoubtfulaccounts | 3,764,627.53 | -57,244,335.30 |
| Total | 3,764,627.53 | -57,244,335.30 |
72.Impairmentlossonassets
InRMB
| Item | Amountofthecurrentperiod | Amountofthepreviousperiod |
| I.Impairmentofinventoriesandcontractfulfillingcosts | -86,992,131.00 | -105,585,722.55 |
| X.Impairmentofgoodwill | -2,181,938.11 | |
| Total | -89,174,069.11 | -105,585,722.55 |
73.Gainondisposalofassets
InRMB
| Sourceofgainondisposalofassets | Amountofthecurrentperiod | Amountofthepreviousperiod |
| Gainondisposaloffixedassets | -14,963,024.24 | -34,905,446.22 |
74.Non-operatingrevenue
InRMB
| Item | Amountofthecurrentperiod | Amountofthepreviousperiod | Amountrecognizedinnon-recurringgainorloss |
| Penalties | 3,293,920.92 | 3,574,668.97 | 3,293,920.92 |
| Amountsthatcannotbepaid | 340,357.93 | 384,586.86 | 340,357.93 |
| Others | 1,985,161.51 | 1,023,803.86 | 1,985,161.51 |
| Total | 5,619,440.36 | 4,983,059.69 | 5,619,440.36 |
75.Non-operatingexpenses
InRMB
| Item | Amountofthecurrentperiod | Amountofthepreviousperiod | Amountrecognizedinnon-recurringgainorloss |
| Donations | 3,915,500.00 | 2,032,060.00 | 3,915,500.00 |
| Lossondestructionandretirementofnon-currentassets | 2,052,158.56 | 1,313,816.79 | 2,052,158.56 |
| Penalties,overduefinesandliquidateddamages | 121,263.86 | 0.00 | |
| Others | 358,831.72 | 2,104,408.20 | 358,831.72 |
| Total | 6,326,490.28 | 5,571,548.85 | 6,326,490.28 |
76.Incometaxexpenses
(1)Statementofincometaxexpenses
InRMB
| Item | Amountofthecurrentperiod | Amountofthepreviousperiod |
| Incometaxexpense | 198,134,719.03 | 47,382,680.04 |
| Deferredincometaxexpenses | 3,799,917.10 | 76,792,036.62 |
| Total | 201,934,636.13 | 124,174,716.66 |
(2)Reconciliationofincometaxexpensestoaccountingprofit
InRMB
| Item | Amountofthecurrentperiod |
| Totalprofit | 960,492,657.61 |
| Incometaxexpenses | 201,934,636.13 |
77.OthercomprehensiveincomeSeeNotestotheFinancialStatements.
78.Itemsofthecashflowstatement
(1)CashflowsrelatedtooperatingactivitiesOthercashreceiptsrelatedtooperatingactivities:
InRMB
| Item | Amountofthecurrentperiod | Amountofthepreviousperiod |
| Securitydepositforacceptancebills | 212,576,032.68 | 292,804,080.02 |
| Governmentgrants | 300,850,136.02 | 75,652,600.37 |
| Interestincome | 113,967,483.54 | 141,164,259.09 |
| Temporaryreceiptspayableandothers | 21,495,008.51 | 82,870,034.31 |
| Total | 648,888,660.75 | 592,490,973.79 |
Othercashpaymentsrelatedtooperatingactivities
InRMB
| Item | Amountofthecurrentperiod | Amountofthepreviousperiod |
| Securitydepositforacceptancebills | 339,221,569.24 | 450,511,403.51 |
| Sellingexpensesandadministrativeexpensesincash | 331,549,138.55 | 346,654,910.34 |
| Bankcharges | 9,575,162.86 | 9,751,760.34 |
| Temporarypaymentreceivableandothers | 20,760,201.07 | 20,705,500.14 |
| Total | 701,106,071.72 | 827,623,574.33 |
(2)Cashflowsrelatedtoinvestingactivities
Othercashreceiptsrelatedtoinvestingactivities
InRMB
| Item | Amountofthecurrentperiod | Amountofthepreviousperiod |
| Recoveryoftermdeposits | 777,215,212.80 | 419,424,782.41 |
| Othersecuritydeposits | 16,439,072.04 | |
| Total | 793,654,284.84 | 419,424,782.41 |
Othercashpaymentsrelatedtoinvestingactivities
InRMB
| Item | Amountofthecurrentperiod | Amountofthepreviousperiod |
| Termdeposits | 300,592,706.53 | 530,962,815.64 |
| Securitydepositfortheacquisition | 237,313,781.32 | |
| Paymentofremainingacquisitionamount | ||
| Others | 46,449,602.24 | |
| Total | 584,356,090.09 | 530,962,815.64 |
(3)Cashflowsrelatedtofinancingactivities
Othercashreceiptsrelatedtofinancingactivities
InRMB
| Item | Amountofthecurrentperiod | Amountofthepreviousperiod |
| Proceedsfromdiscountsonacceptancebillsandlettersofcredit | 730,151,717.04 | 329,197,076.44 |
| Total | 730,151,717.04 | 329,197,076.44 |
Othercashpaymentsrelatedtofinancingactivities
InRMB
| Item | Amountofthecurrentperiod | Amountofthepreviousperiod |
| Securitydeposits | 900,000.00 | 193,427,617.44 |
| Paymentofrents | 11,405,753.18 | 93,422,168.32 |
| Paymentsunderbillfinancing | 341,000,000.00 | 511,413,491.20 |
| Repurchaseoftreasuryshares | 100,100,000.00 | 25,000,846.30 |
| Total | 453,405,753.18 | 823,264,123.26 |
79.Supplementaryinformationtothecashflowstatement
(1)Supplementaryinformationtothecashflowstatement
InRMB
| Supplementaryinformation | Amountofthecurrentperiod | Amountofthepreviousperiod |
| 1.Reconciliationofnetprofittocashflowsfromoperatingactivities: | ||
| Netprofit | 758,558,021.48 | 558,924,012.73 |
| Add:Allowanceforimpairmentofassets | 85,409,441.58 | 106,066,217.85 |
| Depreciationoffixedassets,oilandgasassets,andproductivebiologicalassets | 1,149,385,803.77 | 999,264,228.33 |
| Depreciationofright-of-useassets | 40,262,371.85 | 40,529,013.96 |
| Amortizationofintangibleassets | 53,908,071.35 | 48,441,737.48 |
| Amortizationoflong-termdeferredexpenses | 137,179,890.99 | 117,420,434.00 |
| Lossondisposaloffixedassets,intangibleassetsandotherlong-termassets(gainexpressedwith“-”) | 14,963,024.24 | 34,905,446.22 |
| Lossonretirementoffixedassets(gainexpressedwith“-”) | 2,052,158.56 | 1,313,816.79 |
| Lossonchangesinfairvalue(gainexpressedwith“-”) | -2,536,226.77 | 1,821,721.89 |
| Financialexpenses(incomeexpressedwith“-”) | 133,939,279.15 | 103,871,578.61 |
| Investmentloss(incomeexpressedwith“-”) | 5,869,119.00 | 61,667,884.24 |
| Decreaseindeferredtaxassets(increaseexpressedwith“-”) | 6,970,787.54 | -50,266,107.56 |
| Increaseindeferredtaxliabilities(decreaseexpressedwith“-”) | -3,170,870.44 | 133,638,436.31 |
| Decreaseininventories(increaseexpressedwith“-”) | -342,665,102.19 | 103,490,060.63 |
| Decreaseinoperatingreceivables(increaseexpressedwith“-”) | 659,746,673.69 | 273,447,550.24 |
| Increaseinoperatingpayables(decreaseexpressedwith“-”) | -199,754,422.52 | -445,566,632.44 |
| Others | ||
| Netcashflowsfromoperatingactivities | 2,500,118,021.28 | 2,088,969,399.28 |
| 2.Significantinvestingandfinancingactivitiesnotinvolvingcashreceiptsandpayments: |
| Debt-to-capitalswap | ||
| Convertiblecorporatebondsduewithinoneyear | ||
| Fixedassetsacquiredunderfinanceleases | ||
| 3.Netchangesincashandcashequivalents: | ||
| Closingbalanceofcash | 7,416,577,706.75 | 6,051,354,094.24 |
| Less:Openingbalanceofcash | 5,343,600,382.37 | 5,644,487,018.31 |
| Add:Closingbalanceofcashequivalents | ||
| Less:Openingbalanceofcashequivalents | ||
| Netincreaseincashandcashequivalents | 2,072,977,324.38 | 406,867,075.93 |
(4)Componentsofcashandcashequivalents
InRMB
| Item | Closingbalance | Openingbalance |
| I.Cash | 7,416,577,706.75 | 5,343,600,382.37 |
| Incl.:Cashonhand | 200,624.49 | 266,540.67 |
| Bankdepositsimmediatelyavailableforwithdrawal | 7,416,377,082.26 | 5,343,333,841.70 |
| III.Closingbalanceofcashandcashequivalents | 7,416,577,706.75 | 5,343,600,382.37 |
(5)Amountssubjecttorestrictiononusebutstillpresentedascashandcashequivalents
InRMB
| Item | Amountofthecurrentperiod | Amountofthepreviousperiod | Reasonforpresentationascashandcashequivalents |
| Offeringproceeds | 597,707,560.19 | Immediatelyavailableforwithdrawaldespiteofrestrictiononuse | |
| Total | 597,707,560.19 |
(6)Cashandbankbalancesnotclassifiedascashandcashequivalents
InRMB
| Item | Amountofthecurrentperiod | Amountofthepreviousperiod | Reasonfornotclassifiedascashandcashequivalents |
| Securitydepositfortermdeposits | 839,130,210.74 | 1,325,308,422.77 | Maybeunavailableforpaymentduetopledge,freezeorotherwise |
| Securitydepositforbills | 302,439,749.22 | 368,078,334.92 | Maybeunavailableforpaymentduetopledge,freezeorotherwise |
| Securitydepositfortheacquisition | 50,110,200.00 | Maybeunavailableforpaymentduetopledge,freezeorotherwise | |
| Securitydepositforlettersofcredit | 31,555,751.40 | 39,986,159.48 | Maybeunavailableforpaymentduetopledge,freezeorotherwise |
| Securitydepositforlettersofguarantee | 87,905,148.67 | 91,083,897.01 | Maybeunavailableforpaymentduetopledge,freezeorotherwise |
| Futuresecuritydepositetc. | 253,643.99 | 4,274,055.74 | Maybeunavailableforpaymentduetopledge,freezeorotherwise |
| Total | 1,311,394,704.02 | 1,828,730,869.92 |
80.Notestoitemsofthestatementofchangesinowners’equityTitlesofitemsunder“others”whosebalanceattheendofthepreviousyearwasadjustedandamountofadjustment:
81.Monetaryitemsdenominatedinforeigncurrencies
(1)Monetaryitemsdenominatedinforeigncurrencies
InRMB
| Item | Closingbalanceinforeigncurrency | Exchangerate | ClosingbalanceinRMB |
| Cashandbankbalances | 4,874,997,961.09 | ||
| Incl.:USD | 669,817,294.77 | 7.1586 | 4,794,954,086.34 |
| EUR | 412,281.56 | 8.4024 | 3,464,154.58 |
| HKD | 1,807,819.90 | 0.91195 | 1,648,641.36 |
| SGD | 508,748.45 | 5.6179 | 2,858,097.92 |
| NTD | 278,871.00 | 0.2468 | 68,825.36 |
| JPY | 70,216,409.99 | 0.049594 | 3,482,312.64 |
| MXN | 130,800,206.10 | 0.3809 | 49,821,798.50 |
| THB | 85,116,269.42 | 0.2197 | 18,700,044.39 |
| Accountsreceivable | 4,131,313,579.91 | ||
| Incl.:USD | 577,077,622.96 | 7.1586 | 4,131,067,871.72 |
| EUR | 29,242.62 | 8.4024 | 245,708.19 |
| HKD | 0.91195 |
Long-termborrowings
| Long-termborrowings | |||
| Incl.:USD | 7.1586 | ||
| EUR | 8.4024 | ||
| HKD | 0.91195 | ||
| Otherreceivables | 20,808,219.78 | ||
| Incl.:USD | 1,819,180.46 | 7.1586 | 13,022,785.24 |
| NTD | 30,989.35 | 0.2468 | 7,648.17 |
| MXN | 6,458,638.84 | 0.3809 | 2,460,095.54 |
| THB | 24,204,327.95 | 0.2197 | 5,317,690.85 |
| Short-termborrowings | 1,072,314,700.00 | ||
| Incl.:USD | 114,500,000.00 | 7.1586 | 819,659,700.00 |
| THB | 1,150,000,000.00 | 0.2197 | 252,655,000.00 |
| Accountspayable | 4,217,611,998.82 | ||
| Incl.:USD | 487,412,461.51 | 7.1586 | 3,489,190,846.97 |
| EUR | 2,504,254.39 | 8.4024 | 21,041,747.09 |
| JPY | 1,076,798,659.00 | 0.049594 | 53,402,752.69 |
| SEK | 2,650.00 | 0.7568 | 2,005.52 |
| THB | 2,947,538,163.44 | 0.2197 | 647,574,134.51 |
| MXN | 16,803,654.54 | 0.3809 | 6,400,512.01 |
| Otherpayables | 25,002,326.77 | ||
| Incl.:USD | 3,145,739.45 | 7.1586 | 22,519,090.44 |
| JPY | 650,461.00 | 0.049594 | 32,258.96 |
| MXN | 235,017.82 | 0.3809 | 89,518.29 |
| THB | 10,748,562.06 | 0.2197 | 2,361,459.09 |
| Non-currentliabilitiesduewithinoneyear' | 2,625,950.80 |
| Incl.:USD | 366,824.63 | 7.1586 | 2,625,950.80 |
82.Leases
(2)TheCompanyasthelessorTheCompanyaslessorunderoperatingleases?Applicable□N/A
InRMB
| Item | Rentalincome | Incl.:Incomerelatedtovariableleasepaymentsnotincludedinleasereceipts |
| Rentalincome | 540,548.43 | |
| Total | 540,548.43 |
VIII.ResearchandDevelopmentExpenses
InRMB
| Item | Amountofthecurrentperiod | Amountofthepreviousperiod |
| Directcosts | 250,520,190.78 | 284,790,576.60 |
| Laborcosts | 261,695,815.23 | 267,132,170.20 |
| Depreciation | 45,720,954.81 | 45,587,062.83 |
| Others | 23,530,506.11 | 24,713,799.36 |
| Total | 581,467,466.93 | 622,223,608.99 |
IX.ChangesintheScopeofConsolidationX.InterestsinOtherEntities
1.Interestsinsubsidiaries
(1)Compositionoftheenterprisegroup
InRMB
| Subsidiary | Principalplaceofbusiness | Placeofincorporation | Natureofbusiness | Shareholdingpercentage | Methodofacquisition | |
| Direct | Indirect | |||||
| SuzhouYongchuangCommunicationTechnologyCo.,Ltd. | Suzhou | Suzhou | Manufacturing | 100.00% | Businesscombinationsinvolvingentitiesundercommoncontrol | |
| SuzhouDongkuiLightingCo.,Ltd. | Suzhou | Suzhou | Manufacturing | 100.00% | Established | |
| SuzhouChengjiaPrecisionManufacturingCo.,Ltd. | Suzhou | Suzhou | Manufacturing | 100.00% | Established | |
| DongguanDongshanPrecisionManufacturingCo.,Ltd. | Dongguan | Dongguan | Manufacturing | 95.00% | 5.00% | Established |
| YanchengDongshanPrecisionManufacturingCo.,Ltd. | Yancheng | Yancheng | Manufacturing | 95.00% | 5.00% | Established |
| SuzhouJebsonIntelligentTechnologyCo.,Ltd. | Suzhou | Suzhou | Manufacturing | 51.00% | Established | |
| SuzhouDongdaiElectronicTechnologyCo.,Ltd. | Suzhou | Suzhou | Manufacturing | 51.00% | Established | |
| YanchengDongshanBusinessManagementCo.,Ltd. | Yancheng | Yancheng | Propertymanagement | 95.00% | 5.00% | Established |
| YanchengDongshanCommunicationTechnologyCo.,Ltd. | Yancheng | Yancheng | Manufacturing | 100.00% | Established | |
| ShanghaiChengjiaConsultingManagementCo.,Ltd. | Shanghai | Shanghai | Business&investment | 100.00% | Established | |
| Subsidiary | Principalplaceofbusiness | Placeofincorporation | Natureofbusiness | Shareholdingpercentage | Methodofacquisition | |
| Direct | Indirect | |||||
| YanchengMuttoOptronicsTechnologyCo.,Ltd. | Yancheng | Yancheng | Manufacturing | 100.00% | Established | |
| MFLEXYanchengCo.,Ltd. | Yancheng | Yancheng | Manufacturing | 100.00% | Established | |
| MFLEXSuzhouCo.,Ltd. | Suzhou | Suzhou | Manufacturing | 100.00% | Businesscombinationsinvolvingentitiesnotundercommoncontrol | |
| MFLEXChengduCo.,Ltd. | Chengdu | Chengdu | Manufacturing | 100.00% | Businesscombinationsinvolvingentitiesnotundercommoncontrol | |
| SuzhouRFTopElectronicCommunicationCo.,Ltd. | Suzhou | Suzhou | Manufacturing | 93.51% | Businesscombinationsinvolvingentitiesnotundercommoncontrol | |
| MuttoOptronicsTechnologyCo.,Ltd. | Suzhou | Suzhou | Manufacturing | 100.00% | Businesscombinationsinvolvingentitiesnotundercommoncontrol | |
| MultekTechnology(Zhuhai)Co.,Ltd. | Zhuhai | Zhuhai | Manufacturing | 100.00% | Businesscombinationsinvolvingentitiesnotundercommoncontrol | |
| MultekElectronicsLimited | Zhuhai | Zhuhai | Manufacturing | 100.00% | Businesscombinationsinvolvingentitiesnotundercommoncontrol | |
| MultekIndustriesLimited | Zhuhai | Zhuhai | Manufacturing | 100.00% | Businesscombinationsinvolvingentitiesnotundercommoncontrol | |
| MultekChinaLimited | Zhuhai | Zhuhai | Manufacturing | 100.00% | Businesscombinationsinvolvingentitiesnotundercommoncontrol | |
| ZhuhaiMultekBusinessManagementCo.,Ltd. | Zhuhai | Zhuhai | Business&investment | 100.00% | Established | |
| MFLEXShanghaiCo.,Ltd. | Shanghai | Shanghai | Wholesale | 100.00% | Established | |
| ShenzhenQindaoDongchuangInvestmentPartnership(L.P.) | Shenzhen | Shenzhen | Business&investment | 76.92% | Established | |
| SuzhouDongkeEnterpriseManagementCo.,Ltd. | Suzhou | Suzhou | Enterprisemanagement | 100.00% | Established | |
| YanchengDongchuangPrecisionManufacturingCo.,Ltd. | Yancheng | Yancheng | Manufacturing | 100.00% | Established | |
| SuzhouDongchenEcologicalTechnologyCo.,Ltd. | Suzhou | Suzhou | Services | 100.00% | Established | |
| ShanghaiDongxinNewEnergyTechnologyCo.,Ltd. | Shanghai | Shanghai | Manufacturing | 95.00% | 5.00% | Established |
| ShanghaiDonglanNewEnergyTechnologyCo.,Ltd. | Shanghai | Shanghai | Manufacturing | 100.00% | Established | |
| SuzhouDongyueNewEnergyTechnologyCo.,Ltd. | Kunshan | Kunshan | Manufacturing | 90.00% | 10.00% | Established |
| SuzhouDongshanIndustrialInvestmentCo.,Ltd. | Suzhou | Suzhou | Business&investment | 100.00% | Established | |
| SuzhouDongdiHoldingLimited | Suzhou | Suzhou | Business&investment | 100.00% | Established | |
| SuzhouJDIElectronicsInc. | Suzhou | Suzhou | Manufacturing | 100.00% | Businesscombinationsinvolvingentitiesnotundercommoncontrol | |
| ChaoweiMicroelectronics(Yancheng)Co.,Ltd. | Yancheng | Yancheng | Manufacturing | 100.00% | Established | |
| HongKongDongshanPrecisionUnionOptoelectronicCo.,Limited | HongKong,China | HongKong,China | Business&investment | 100.00% | Established | |
| MuttoOptronicsGroupLimited | BVI | BVI | Business&investment | 100.00% | Businesscombinationsinvolvingentitiesnotundercommoncontrol | |
| DSBJHoldingsInc. | USA | USA | Business& | 100.00% | Established | |
| Subsidiary | Principalplaceofbusiness | Placeofincorporation | Natureofbusiness | Shareholdingpercentage | Methodofacquisition | |
| Direct | Indirect | |||||
| investment | ||||||
| DSBJSolutionsINC | USA | USA | Business&investment | 100.00% | Established | |
| DragonElectronixHoldingsINC. | USA | USA | Business&investment | 100.00% | Established | |
| Multi-FinelineElectronix,Inc. | USA | USA | Business&investment | 100.00% | Businesscombinationsinvolvingentitiesnotundercommoncontrol | |
| MFLEXDelaware,Inc. | Delaware | Delaware | Business&investment | 100.00% | Businesscombinationsinvolvingentitiesnotundercommoncontrol | |
| Multi-FinelineElectronixSingaporePte.Ltd. | Singapore | Singapore | Business&investment | 100.00% | Businesscombinationsinvolvingentitiesnotundercommoncontrol | |
| HongKongDongshanHoldingLimited | HongKong,China | HongKong,China | Business&investment | 100.00% | Established | |
| DSBJPTE.LTD. | Singapore | Singapore | Business&investment | 100.00% | Established | |
| MultekGroup(HongKong)Limited | HongKong,China | HongKong,China | Business&investment | 100.00% | Established | |
| MultekTechnology,Inc. | USA | USA | Business&investment | 100.00% | Established | |
| MultekTechnologiesLimited | Mauritius | Mauritius | Business&investment | 100.00% | Businesscombinationsinvolvingentitiesnotundercommoncontrol | |
| TheDiiGroup(BVI)Co.Limited | BVI | BVI | Business&investment | 100.00% | Businesscombinationsinvolvingentitiesnotundercommoncontrol | |
| TheDiiGroupAsiaLimited | HongKong,China | HongKong,China | Business&investment | 100.00% | Businesscombinationsinvolvingentitiesnotundercommoncontrol | |
| MultekHongKongLimited | HongKong,China | HongKong,China | Business&investment | 100.00% | Businesscombinationsinvolvingentitiesnotundercommoncontrol | |
| AstronGroupLimited | HongKong,China | HongKong,China | Business&investment | 100.00% | Businesscombinationsinvolvingentitiesnotundercommoncontrol | |
| VastbrightPCB(HOLDING)Limited | HongKong,China | HongKong,China | Business&investment | 100.00% | Businesscombinationsinvolvingentitiesnotundercommoncontrol | |
| MultekTechnologyGermanyGmbH | Germany | Germany | Business&investment | 100.00% | Businesscombinationsinvolvingentitiesnotundercommoncontrol | |
| MultekTechnologySwedenAB | Sweden | Sweden | Business&investment | 100.00% | Established | |
| MultekTechnologyMalaysiaSDN.BHD | Malaysia | Malaysia | Business&investment | 100.00% | Established | |
| KoreabranchofficeofDSBJPte.Ltd. | Korea | Korea | Business&investment | 100.00% | Established | |
| AutotechProductiondeMexicoS.deR.L.deC.V. | Mexico | Mexico | Manufacturing | 100.00% | Businesscombinationsinvolvingentitiesnotundercommoncontrol | |
| ArandaTooling,Inc. | USA | USA | Manufacturing | 100.00% | Businesscombinations | |
| Subsidiary | Principalplaceofbusiness | Placeofincorporation | Natureofbusiness | Shareholdingpercentage | Methodofacquisition | |
| Direct | Indirect | |||||
| involvingentitiesnotundercommoncontrol | ||||||
| AutoTechProductionServices,Inc. | USA | USA | Manufacturing | 100.00% | Businesscombinationsinvolvingentitiesnotundercommoncontrol | |
| DSBJMEXICO,S.DER.L.DEC.V. | Mexico | Mexico | Manufacturing | 100.00% | Established | |
| Multi-FinelineElectronics(Thailand)Co.,Ltd. | Thailand | Thailand | Manufacturing | 100.00% | Established | |
| HongKongDongdiHoldingLimited | HongKong,China | HongKong,China | Business&investment | 100.00% | Established | |
| Multi-FinelineElectronicsHungaryKFT. | Hungary | Hungary | Business&investment | 100.00% | Established | |
XI.GovernmentGrants
1.Governmentgrantsrecognizedattheamountreceivableattheendofthereportingperiod
□Applicable?N/AReasonforfailuretoreceiveexpectedgovernmentgrantsattheexpectedtime
□Applicable?N/A
2.Liabilitiesrelatedtogovernmentgrants
?Applicable□N/A
InRMB
| Item | Openingbalance | Newgrantsreceivedinthecurrentperiod | Amountofnon-operatingrevenuerecognizedinthecurrentperiod | Amounttransferredtootherincomeinthecurrentperiod | Otherchangesinthecurrentperiod | Closingbalance | Relatedtoassets/income |
| Deferredincome | 585,933,889.89 | 270,238,750.00 | 107,132,163.18 | 749,040,476.71 | Relatedtoassets | ||
| Subtotal | 585,933,889.89 | 271,997,240.62 | 107,132,163.18 | 749,040,476.71 |
3.Governmentgrantsrecognizedinprofitorloss
?Applicable□N/A
InRMB
| Item | Amountofthecurrentperiod | Amountofthepreviousperiod |
| Governmentgrantsrecognizedinotherincome | 136,320,207.08 | 145,779,443.11 |
| Total | 136,320,207.08 | 145,779,443.11 |
XII.RisksAssociatedwithFinancialInstruments
1.RisksarisingfromfinancialinstrumentsTheCompany’sobjectivesofriskmanagementaretomaintainabalancebetweenriskandincome,minimizethenegativeeffectofrisksontheoperatingresultsoftheCompanyandmaximizetheinterestsoftheshareholdersandotherequityinvestors.Onthebasisofsuchobjectivesofriskmanagement,theCompany’sbasicriskmanagementpolicyisdesignedtoidentifyandanalyzeallkindsofrisksfacingtheCompany,setappropriateriskthresholdsinriskmanagement,andmonitorrisksandadherencetolimitsinatimelyandreliablemanner.
TheCompanyfacesavarietyofrisksassociatedwithfinancialinstrumentsinitsdailyactivities,mainlyincludingcreditrisk,liquidityriskandmarketrisk.Belowisasummaryofthepoliciesformanagingsuchrisksconsideredandapprovedbythemanagement.
(I)Creditrisk
Creditriskistheriskthatonepartytoafinancialinstrumentwillcauseafinanciallosstotheotherpartybyfailingtodischargeanobligation.
1.Creditriskmanagementpractice
(1)Assessmentofcreditrisk
Ateachbalancesheetdate,theCompanyassesseswhetherthecreditriskofafinancialinstrumenthasincreasedsignificantlysinceinitialrecognition.Inassessingwhetherthecreditriskhasincreasedsignificantlysinceinitialrecognition,theCompanytakesintoaccountreasonableandsupportableinformation,whichisavailablewithoutunduecostoreffort,includingqualitativeandquantitativeanalysisbasedonhistoricaldata,externalcreditriskrating,andforward-lookinginformation.TheCompanydeterminesthechangesindefaultriskoffinancialinstrumentsduringtheirestimatedlifetimethroughacomparisonofthedefaultriskatthebalancesheetdateandtheinitialrecognitiondate,onanindividualorcollectivebasis.
TheCompanydeterminesthatthecreditriskofafinancialinstrumenthasincreasedsignificantlywhenoneormoreofthefollowingqualitativeandquantitativestandardsaremet:
1)Quantitativestandard,mainlyrelatestothescenarioinwhich,atthebalancesheetdate,theprobabilityofdefaultintheremaininglifetimehasrisenbymorethanacertainpercentagecomparedwiththeinitialrecognition;and/or
2)Qualitativestandard,mainlyrelatestosignificantadversechangesinthedebtor’sbusinesssituationorfinancialposition,andpresentorexpectedchangesintechnology,market,economyorlegalenvironmentthatwillhaveamaterialadverseeffectonthedebtor’sabilitytorepay.
(2)Definitionofdefaultandcredit-impairedassetsAfinancialinstrumentisindefaultorcreditimpairedwhenoneormoreofthefollowingconditionsaremet:
1)significantfinancialdifficultyofthedebtor;
2)anybreachbythedebtorofcontracttermsbindingonit;
3)itbecomesprobablethatthedebtorwillenterbankruptcyorotherfinancialreorganization;
4)thecreditorsofthedebtor,foreconomicorcontractualreasonsrelatingtothedebtor’sfinancialdifficulty,havinggrantedtothedebtoraconcessionthatthecreditorswouldnototherwiseconsider.
2.Measurementofexpectedcreditlosses
Thekeyfactorsinthemeasurementofexpectedcreditlossesincludetheprobabilityofdefault,lossgivendefault,andexposuretodefaultrisk.TheCompanyhasdevelopedamodeloftheprobabilityofdefault,lossgivendefaultandexposuretodefaultriskonthebasisofquantitativeanalysisofhistoricaldata(e.g.counterpartyrating,guaranteemeasuresandcollateraltype,repaymentmethod,etc.)andforward-lookinginformation.
3.SeeNotesV(I)3,V(I)4,V(I)7andV(I)10fortheconciliationtableofopeningbalancesandclosingbalancesofallowanceforimpairmentlossonfinancialinstruments.
4.Creditriskexposureandcreditriskconcentration
TheCompany’screditriskisprimarilyattributabletocashandbankbalancesandreceivables.Inordertocontrolsuchrisks,theCompanyhastakenthefollowingmeasures:
(1)Cashandbankbalances
TheCompanydepositsitsbankbalancesandothermonetarycapitalinfinancialinstitutionswithrelativelyhighcreditratings,soitscreditriskisrelativelylow.
(2)Accountsreceivable
TheCompanyperformscreditassessmentsoncustomersusingcreditsettlementonanongoingbasis.TheCompanyselectsapprovedandcreditworthycustomersbasedontheresultofcreditassessment,andmonitorsthebalanceofaccountsreceivablefromthemonanongoingbasis,toavoidsignificantriskofdoubtfulaccounts.
AstheCompanyonlydealswithapprovedandcreditworthythirdparties,nocollateralisrequired.Theconcentrationofcreditrisksaremanagedcustomerbycustomer.AsofJune30,2025,theCompanyfacedcertaincreditconcentrationrisks.Inparticular,
44.19%(December31,2024:54.89%)oftheCompany’saccountsreceivablecamefromthetop5customers,withoutany
collateralorothercreditenhancement.TheCompany’smaximumexposuretocreditriskisthecarryingvalueofeachfinancialassetinthebalancesheet.TheCompany’smaximumexposuretocreditriskisthecarryingvalueofeachfinancialassetinthebalancesheet.(II)LiquidityriskLiquidityriskistheriskthattheCompanymaynothaveenoughcashtosatisfyitsobligationtodelivercashorotherfinancialassets,duetotheinabilitytoliquidatefinancialassetsatfairvalueinatimelymanner,orfailureofcounterpartiestodischargetheircontractliabilities,accelerationofdebts,failuretogenerateexpectedcashflows,orotherwise.Inordertocontrolsuchrisk,theCompanyutilizesavarietyoffinancingtoolssuchassettlementbymeansofnotes,bankloans,etc.,combineslong-termandshort-termfinancingtooptimizefinancingstructure,andmaintainsabalancebetweenfinancingsustainabilityandflexibility.TheCompanyhasobtainedlinesofcreditfrommanycommercialbankstosatisfyitsworkingcapitalrequirementsandcapitalexpenditures.Financialliabilitiesclassifiedbyremainingmaturity
InRMB
| Item | Closingbalance | ||||
| Carryingvalue | Undiscountedcontractamount | Within1year | 1-3years | Over3years | |
| Bankloans(includingnon-currentliabilitiesduewithinoneyear) | 12,860,417,257.10 | 13,233,485,771.57 | 8,309,362,026.72 | 3,593,054,216.52 | 1,331,069,528.33 |
| Financialliabilitiesheldfortrading | 71,586,000.00 | 71,586,000.00 | 71,586,000.00 | ||
| Notespayable | 934,630,146.08 | 934,630,146.08 | 934,630,146.08 | ||
| Accountspayable | 9,082,352,248.71 | 9,082,352,248.71 | 9,082,352,248.71 | ||
| Otherpayables | 96,940,026.12 | 96,940,026.12 | 96,940,026.12 | ||
| Leaseliabilities(includingnon-currentliabilitiesduewithinoneyear) | 1,525,373,381.98 | 1,581,861,735.36 | 158,153,107.69 | 1,372,076,040.12 | 51,632,587.55 |
| Long-termpayables(includingnon-currentliabilitiesduewithinoneyear) | 27,754,051.05 | 27,754,051.05 | 27,754,051.05 | ||
| Subtotal | 24,599,053,111.04 | 25,028,609,978.89 | 18,653,023,555.32 | 4,992,884,307.69 | 1,382,702,115.88 |
(Continued)
| Item | Balanceattheendofthepreviousyear | ||||
| Carryingvalue | Undiscountedcontractamount | Within1year | 1-3years | Over3years | |
| Bankloans(includingnon-currentliabilitiesduewithinoneyear) | 12,427,287,441.14 | 12,945,053,630.60 | 7,357,404,130.16 | 4,070,557,149.80 | 1,517,092,350.64 |
| Financialliabilitiesheldfortrading | 82,922,390.17 | 82,922,390.17 | 82,922,390.17 | ||
| Notespayable | 935,581,272.50 | 935,581,272.50 | 935,581,272.50 | ||
| Accountspayable | 9,659,268,990.43 | 9,659,268,990.43 | 9,659,268,990.43 | ||
| Otherpayables | 94,163,223.90 | 94,163,223.90 | 94,163,223.90 | ||
| Leaseliabilities(includingnon-currentliabilitiesduewithinoneyear) | 1,483,360,719.42 | 1,605,316,008.57 | 155,598,833.56 | 1,394,948,589.61 | 54,768,585.40 |
| Long-termpayables(includingnon-currentliabilitiesduewithinoneyear) | 49,434,786.31 | 49,434,786.31 | 49,434,786.31 |
(III)MarketRiskMarketriskistheriskoffluctuationinthefairvalueorfuturecashflowsoffinancialinstrumentsduetochangesinmarketprices.Marketriskmainlyincludesinterestriskandforeignexchangerisk.
1.InterestrateriskInterestrateriskistheriskoffluctuationinthefairvalueorfuturecashflowsoffinancialinstrumentsduetochangesinmarketinterestrates.Interest-bearingfinancialinstrumentswithfixedinterestratesexposetheCompanytofairvalueinterestraterisk,whileinterest-bearingfinancialinstrumentswithfloatinginterestratesexposetheCompanytocashflowinterestraterisk.TheCompanydeterminestheproportionoffixed-ratefinancialinstrumentsandfloating-ratefinancialinstrumentsbasedonthemarketenvironment,andreviewsandmonitorstheappropriatenessofitsportfoliooffinancialinstrumentsonaregularbasis.ThecashflowinterestrateriskthattheCompanyfacesisprimarilyassociatedwiththefloating-ratebankloansowedbytheCompany,whichamountedtoRMB5,961,182,910.35asofJune30,2025(December31,2024:RMB2,392,686,104.16).Supposingtheinterestratechangesby50basispointswhileothervariablesremainunchanged,theCompany’stotalprofitandshareholders’interestwillnotbemateriallyaffected.
2.ForeignexchangeriskForeignexchangeriskistheriskoffluctuationinthefairvalueorfuturecashflowsoffinancialinstrumentsduetochangesinexchangerates.TheCompany’sforeignexchangeriskrelatesmainlytoforeigncurrencydenominatedmonetaryassetsandliabilities.Whenashort-termimbalanceoccursonforeigncurrencydenominatedassetsandliabilities,theCompanymaytradeforeigncurrenciesatmarketexchangerateswhennecessary,inordertomaintainthenetriskexposureatanacceptablelevel.SeeNoteV(V)2totheFinancialStatementsfordetailsofforeigncurrencydenominatedmonetaryassetsandliabilitiesasoftheendofthereportingperiod.
XIII.FairValueDisclosures
1.Closingbalanceofthefairvalueofassetsandliabilitiesmeasuredatfairvalue
InRMB
| Item | Closingbalanceoffairvalue | |||
| Level1fairvaluemeasurement | Level2fairvaluemeasurement | Level3fairvaluemeasurement | Total | |
| I.Recurringfairvaluemeasurement | -- | -- | -- | -- |
| 1.Financialassetsatfairvaluethroughprofitorloss | 99,120,489.81 | 99,120,489.81 | ||
| (2)Investmentinequityinstruments | 65,235,923.23 | 65,235,923.23 | ||
| (3)Derivativefinancialassets | 33,884,566.58 | 33,884,566.58 | ||
| 2.Accountsreceivablefinancing | 252,886,223.60 | 252,886,223.60 | ||
| (III)Investmentinotherequityinstruments | 333,657,110.00 | 333,657,110.00 | ||
| Totalassetsmeasuredatfairvalueonarecurringbasis | 685,663,823.41 | 685,663,823.41 | ||
| (VI)Financialliabilitiesheldfortrading | 71,586,000.00 | 71,586,000.00 | ||
| Totalliabilitiesmeasuredatfairvalueonarecurringbasis | 71,586,000.00 | 71,586,000.00 | ||
| II.Fairvaluemeasurementonanon-recurringbasis | -- | -- | -- | -- |
XIV.RelatedPartiesandRelated-partyTransactions
1.ParentoftheCompanyParentoftheCompanyTheultimatecontrollersoftheCompanyareYUANYonggang,YUANYongfeng,andYUANFugen.Otherinformation:TheCompany’sactualcontrollersareYUANYonggang,YUANYongfengandYUANFugen,whohold
16.53%,13.51%,and3.21%ofthetotalsharesandvotesoftheCompanyrespectively,and33.26%ofthetotalsharesandvotesoftheCompanyinaggregate.
2.SubsidiariesoftheCompanyTheparticularsofthesubsidiariesoftheCompanyaresetforthin“InterestsinOtherEntities”.
3.JointventuresandassociatesoftheCompanyTheparticularsofthejointventuresandassociatesoftheCompanyaresetforthin“InterestsinOtherEntities”.Otherjointventuresorassociatesthathavecarriedoutrelated-partytransactionswiththeCompanyinthecurrentperiodorthepreviousperiodswithbalancesrecordedinthecurrentperiod:
| Nameofjointventureorassociate | RelationshipwiththeCompany |
| SuzhouToprunElectricEquipmentCo.,Ltd. | Associate |
| SuzhouDongcanOptoelectronicsTechnologyCo.,Ltd. | Associate |
4.Otherrelatedparties
| Nameofotherrelatedparty | RelationshipwiththeCompany |
| HaiDixinSemiconductor(Nantong)Co.,Ltd. | Investeecompany |
| AnhuiLandunPhotoelectronCo.,Ltd. | AcompanycontrolledbytheactualcontrollersoftheCompany |
| ShanghaiCorkunaNewMaterialTechnologiesCo.,Ltd. | AcompanycontrolledbytheactualcontrollersoftheCompany |
| SuzhouCorkunaNewMaterialTechnologiesCo.,Ltd. | AcompanycontrolledbytheactualcontrollersoftheCompany |
5.Related-partytransactions
(1)Related-partycommodityandservicetransactions
Purchaseofgoodsandreceiptofservicesfromrelatedparties
InRMB
| Relatedparty | Subjectmatter | Amountofthecurrentperiod | Transactionquotaapproved | Whetherornottoexceedthetransactionquota? | Amountofthepreviousperiod |
| SuzhouDongcanOptoelectronicsTechnologyCo.,Ltd. | Purchaseofgoods | 7,964.55 | 28,320.00 | ||
| ShanghaiCorkunaNewMaterialTechnologiesCo.,Ltd. | Purchaseofgoods | 936,457.17 | 6,839,456.25 | ||
| SuzhouCorkunaNewMaterialTechnologiesCo.,Ltd. | Purchaseofgoods | 11,214,138.95 | 1,373,169.59 |
Saleofgoodsandrenderingofservicestorelatedparties
InRMB
| Relatedparty | Subjectmatter | Amountofthecurrentperiod | Amountofthepreviousperiod |
| SuzhouToprunElectricEquipmentCo.,Ltd. | Saleofgoods | 24,637.14 | 101,886.79 |
| SuzhouDongcanOptoelectronicsTechnologyCo.,Ltd. | Saleofgoods | 22,188.29 | 25,776.74 |
| AnhuiLandunPhotoelectronCo.,Ltd. | Renderingofservices | 75,600.00 |
(4)Related-partyguarantees
TheCompanyasguarantor
InRMB
| Obligor | Amountguaranteed | Effectivedateofguarantee | Expirydateofguarantee | Whethertheobligationguaranteedhasbeendischarged |
| SuzhouToprunElectricEquipmentCo.,Ltd. | 2,000,000.00 | January25,2025 | January25,2026 | No |
| SuzhouToprunElectricEquipmentCo.,Ltd. | 6,000,000.00 | January21,2025 | January21,2026 | No |
| SuzhouToprunElectricEquipmentCo.,Ltd. | 2,000,000.00 | September4,2024 | September4,2025 | No |
| SuzhouToprunElectricEquipmentCo.,Ltd. | 5,217,971.96 | December12,2024 | September11,2025 | No |
| SuzhouToprunElectricEquipmentCo.,Ltd. | 3,790,000.00 | October21,2024 | October20,2025 | No |
| SuzhouToprunElectricEquipmentCo.,Ltd. | 10,000,000.00 | March17,2025 | March16,2026 | No |
TheCompanyasobligor
InRMB
| Guarantor | Amountguaranteed | Effectivedateofguarantee | Expirydateofguarantee | Whethertheobligationguaranteedhasbeendischarged |
| YUANYongfeng/YUANYonggang | 200,000,000.00 | August28,2022 | January6,2032 | No |
(7)Remunerationofkeyofficers
InRMB
| Item | Amountofthecurrentperiod | Amountofthepreviousperiod |
| Remunerationofkeyofficers | 11,563,600.00 | 11,522,600.00 |
6.Amountsreceivablefrom/payabletorelatedparties
(1)Amountsreceivablefromrelatedparties
InRMB
| Item | Relatedparty | Closingbalance | Openingbalance | ||
| Bookbalance | Allowancefordoubtfulaccounts | Bookbalance | Allowancefordoubtfulaccounts | ||
| Accountsreceivable | HaiDixinSemiconductor(Nantong)Co.,Ltd. | 1,607,132.92 | 1,607,132.92 | 1,607,132.92 | 1,607,132.92 |
| Accountsreceivable | SuzhouDongcanOptoelectronicsTechnologyCo.,Ltd. | 340,922.83 | 80,551.49 | 318,894.64 | 93,307.33 |
| Accountsreceivable | SuzhouToprunElectricEquipmentCo.,Ltd. | 11,177.70 | 55.89 | ||
| Otherreceivables | HaiDixinSemiconductor(Nantong)Co.,Ltd. | 1,790,748.55 | 1,790,748.55 | 1,790,748.55 | 1,790,748.55 |
(2)Amountspayabletorelatedparties
InRMB
| Item | Relatedparty | Closingbookbalance | Openingbookbalance |
| Accountspayable | SuzhouDongcanOptoelectronicsTechnologyCo.,Ltd. | 167,885.28 | 298,971.64 |
| Accountspayable | ShanghaiCorkunaNewMaterialTechnologiesCo.,Ltd. | 763,131.39 | 1,792,220.15 |
| Accountspayable | SuzhouCorkunaNewMaterialTechnologiesCo.,Ltd. | 8,104,093.33 | 4,970,486.19 |
XV.Share-basedPaymentsXVI.CommitmentsandContingenciesXVII.SubsequentEventsXVIII.OtherSignificantInformationXIX.NotestoKeyItemsoftheStandaloneFinancialStatements
1.Accountsreceivable
(1)Accountsreceivablebyage
InRMB
| Age | Closingbookbalance | Openingbookbalance |
| Within1year(inclusive) | 2,172,932,265.82 | 2,998,577,516.40 |
| Within6months | 1,167,215,399.56 | 1,717,998,540.30 |
| 7-12months | 1,005,716,866.26 | 1,280,578,976.10 |
| 1-2years | 819,509,895.91 | 67,754,351.05 |
| 2-3years | 23,753,402.01 | 94,214,723.81 |
| Over3years | 67,517,615.51 | 75,446,354.06 |
| 3-4years | 8,115,824.67 | 3,854,595.17 |
| 4-5years | 8,500,918.37 | 48,135,349.97 |
| Over5years | 50,900,872.47 | 23,456,408.92 |
| Total | 3,083,713,179.25 | 3,235,992,945.32 |
(2)Accountsreceivablebymethodofrecognitionofallowancefordoubtfulaccounts
InRMB
| Type | Closingbalance | Openingbalance | ||||||||
| Bookbalance | Allowancefordoubtfulaccounts | Carryingvalue | Bookbalance | Allowancefordoubtfulaccounts | Carryingvalue | |||||
| Amount | % | Amount | Ratioofprovision | Amount | % | Amount | Ratioofprovision | |||
| Allowancerecognizedindividually | 14,625,467.55 | 0.47% | 14,625,467.55 | 100.00% | 14,625,467.55 | 0.45% | 14,625,467.55 | 100.00% | ||
| Incl.: | ||||||||||
| Allowancerecognized | 3,069,087,711.70 | 99.53% | 77,463,302.85 | 2.52% | 2,991,624,408.85 | 3,221,367,477.77 | 99.55% | 77,874,863.40 | 2.42% | 3,143,492,614.37 |
| collectively | ||||||||||
| Incl.: | ||||||||||
| Total | 3,083,713,179.25 | 100.00% | 92,088,770.40 | 2.99% | 2,991,624,408.85 | 3,235,992,945.32 | 100.00% | 92,500,330.95 | 2.86% | 3,143,492,614.37 |
Accountsreceivablewithallowancefordoubtfulaccountsrecognizedcollectivelybycategoryname:
InRMB
| Item | Closingbalance | ||
| Bookbalance | Allowancefordoubtfulaccounts | Ratioofprovision | |
| Groupofrelatedpartieswithinthescopeofconsolidation | 2,075,948,347.62 | ||
| Aginggroup | 993,139,364.08 | 77,463,302.85 | 7.80% |
| Total | 3,069,087,711.70 | 77,463,302.85 | |
(5)Top5debtorsintermsofclosingbalanceofaccountsreceivableandcontractassets
InRMB
| Companyname | Closingbalanceofaccountsreceivable | Closingbalanceofcontractassets | Totalclosingbalanceofaccountsreceivableandcontractassets | %ofthetotalclosingbalanceofaccountsreceivableandcontractassets | Closingbalanceofallowancefordoubtfulaccountsreceivableandimpairmentofcontractassets |
| Top1 | 864,675,055.44 | 864,675,055.44 | 28.04% | ||
| Top2 | 432,967,317.80 | 432,967,317.80 | 14.04% | ||
| Top3 | 282,623,353.91 | 282,623,353.91 | 9.16% | ||
| Top4 | 203,743,208.93 | 203,743,208.93 | 6.61% | 1,019,796.04 | |
| Top5 | 184,030,577.23 | 184,030,577.23 | 5.97% | ||
| Total | 1,968,039,513.31 | 1,968,039,513.31 | 63.82% | 1,019,796.04 |
2.Otherreceivables
InRMB
| Item | Closingbalance | Openingbalance |
| Dividendsreceivable | 1,289,047,893.28 | 1,495,758,008.53 |
| Otherreceivables | 6,087,268,144.80 | 4,473,728,550.13 |
| Total | 7,376,316,038.08 | 5,969,486,558.66 |
(2)Dividendsreceivable
1)Dividendsreceivablebycategory
InRMB
| Item(orinvestee) | Closingbalance | Openingbalance |
| HongKongDongshanHoldingLimited | 933,047,893.28 | 1,044,758,008.53 |
| YanchengDongshanPrecisionManufacturingCo.,Ltd. | 266,000,000.00 | 266,000,000.00 |
| SuzhouJDIElectronicsInc. | 90,000,000.00 | 140,000,000.00 |
| SuzhouDongyueNewEnergyTechnologyCo.,Ltd. | 45,000,000.00 | |
| Total | 1,289,047,893.28 | 1,495,758,008.53 |
2)Significantdividendsreceivableagedoveroneyear
InRMB
| Item(orinvestee) | Closingbalance | Age | Reasonforfailuretocollect | Whetherornotimpairedandthebasisfordetermination |
| HongKongDongshanHoldingLimited | 463,047,893.28 | Over3years | Tosupportthedevelopmentofthesubsidiary | |
| YanchengDongshanPrecisionManufacturingCo.,Ltd. | 266,000,000.00 | Over3years | Tosupportthedevelopmentofthesubsidiary | |
| Total | 729,047,893.28 |
(3)Otherreceivables
1)Otherreceivablesbynature
InRMB
| Natureofaccounts | Closingbookbalance | Openingbookbalance |
| Currentaccounts | 5,899,853,694.38 | 4,469,455,999.04 |
| Securitydeposit | 2,400,000.00 | 1,325,000.00 |
| Loanandreservefund | 6,497,888.40 | 4,407,055.00 |
| Temporarypaymentreceivable | 4,570,250.41 | 2,639,160.94 |
| Securitydepositforinvestments | 187,005,481.32 | |
| Total | 6,100,327,314.51 | 4,477,827,214.98 |
2)Otherreceivablesbyage
InRMB
| Age | Closingbookbalance | Openingbookbalance |
| Within1year(inclusive) | 5,917,253,171.72 | 4,293,041,449.14 |
| 1-2years | 179,691,035.58 | 179,913,329.38 |
| 2-3years | 429,529.85 | 1,936,000.00 |
| Over3years | 2,953,577.36 | 2,936,436.46 |
| 3-4years | 235,470.15 | 1,367,016.15 |
| 4-5years | 2,568,707.21 | 1,414,020.31 |
| Over5years | 149,400.00 | 155,400.00 |
| Total | 6,100,327,314.51 | 4,477,827,214.98 |
3)Otherreceivablesbythemethodofrecognitionofallowancefordoubtfulaccounts
InRMB
| Type | Closingbalance | Openingbalance |
| Bookbalance | Allowancefordoubtfulaccounts | Carryingvalue | Bookbalance | Allowancefordoubtfulaccounts | Carryingvalue | |||||
| Amount | % | Amount | Ratioofprovision | Amount | % | Amount | Ratioofprovision | |||
| Incl.: | ||||||||||
| Allowancerecognizedcollectively | 6,100,327,314.51 | 100.00% | 13,059,169.71 | 0.21% | 6,087,268,144.80 | 4,477,827,214.98 | 100.00% | 4,098,664.85 | 0.09% | 4,473,728,550.13 |
| Incl.: | ||||||||||
| Total | 6,100,327,314.51 | 100.00% | 13,059,169.71 | 0.21% | 6,087,268,144.80 | 4,477,827,214.98 | 100.00% | 4,098,664.85 | 0.09% | 4,473,728,550.13 |
Otherreceivableswithallowancefordoubtfulaccountsrecognizedcollectivelybycategoryname:Aginggroup
InRMB
| Item | Closingbalance | ||
| Bookbalance | Allowancefordoubtfulaccounts | Ratioofprovision | |
| Groupofrelatedpartieswithinthescopeofconsolidation | 5,899,853,694.38 | ||
| Aginggroup | 200,473,620.13 | 13,059,169.71 | 6.51% |
| Incl.:Within1year | 196,364,477.34 | 9,818,223.87 | 5.00% |
| 1-2years | 726,035.58 | 72,603.56 | 10.00% |
| 2-3years | 429,529.85 | 214,764.92 | 50.00% |
| Over3years | 2,953,577.36 | 2,953,577.36 | 100.00% |
| Total | 6,100,327,314.51 | 13,059,169.71 | |
Basisforgrouping:
Recognitionofallowancefordoubtfulaccountsinaccordancewiththegeneralmodelofexpectedcreditlosses:
InRMB
| Allowancefordoubtfulaccounts | StageI | StageII | StageIII | Total |
| 12-monthexpectedcreditloss | Lifetimeexpectedcreditloss(notcreditimpaired) | Lifetimeexpectedcreditloss(creditimpaired) | ||
| BalanceatJanuary1,2025 | 155,649.55 | 38,578.84 | 3,904,436.46 | 4,098,664.85 |
| Inthecurrentperiod,thebalanceasatJanuary1,2025 | ||||
| -TransferredtostageII | -34,024.72 | 34,024.72 | ||
| Recognized | 9,696,599.04 | -736,094.18 | 8,960,504.86 | |
| BalanceatJune30,2025 | 9,818,223.87 | 72,603.56 | 3,168,342.28 | 13,059,169.71 |
6)Top5debtorsintermsofclosingbalanceofotherreceivables
InRMB
| Companyname | Natureofaccount | Closingbalance | Age | %ofthetotalclosingbalanceofotherreceivables | Closingbalanceofallowancefordoubtfulaccounts |
| YanchengDongshanPrecisionManufacturingCo.,Ltd. | Currentaccounts | 1,258,475,589.25 | Within1year | 20.63% | |
| MuttoOptronicsTechnologyCo.,Ltd. | Currentaccounts | 1,178,897,118.58 | Within1year | 19.33% | |
| SuzhouDongyueNewEnergyTechnologyCo.,Ltd. | Currentaccounts | 659,595,925.94 | Within1year | 10.81% | |
| HongKongDongshanHoldingLimited | Currentaccounts | 471,040,528.37 | Within1year | 7.72% | |
| HongKongDongshanHoldingLimited | 178,965,000.00 | 1-2years | 2.93% | ||
| DongguanDongshanPrecisionManufacturingCo.,Ltd. | Currentaccounts | 484,142,051.89 | Within1year | 7.94% | |
| Total | 4,231,116,214.03 | 69.36% |
3.Long-termequityinvestments
InRMB
| Item | Closingbalance | Openingbalance | ||||
| Bookbalance | Allowanceforimpairmentloss | Carryingvalue | Bookbalance | Allowanceforimpairmentloss | Carryingvalue | |
| Investmentsinsubsidiaries | 9,671,242,453.40 | 133,690,000.00 | 9,537,552,453.40 | 9,671,242,453.40 | 133,690,000.00 | 9,537,552,453.40 |
| Investmentsinassociatesandjointventures | 104,366,246.18 | 17,507,056.47 | 86,859,189.71 | 107,812,202.38 | 17,507,056.47 | 90,305,145.91 |
| Total | 9,775,608,699.58 | 151,197,056.47 | 9,624,411,643.11 | 9,779,054,655.78 | 151,197,056.47 | 9,627,857,599.31 |
(1)Investmentsinsubsidiaries
InRMB
| Investee | Openingbalance(carryingvalue) | Openingbalanceofallowanceforimpairmentloss | Changesinthecurrentperiod | Closingbalance(carryingvalue) | Closingbalanceofallowanceforimpairmentloss | |||
| Additionalinvestment | Reducedinvestment | Allowanceforimpairmentloss | Others | |||||
| DongguanDongshanPrecisionManufacturingCo.,Ltd. | 342,000,000.00 | 342,000,000.00 | ||||||
| MFLEXShanghaiCo.,Ltd. | 2,023,777.30 | 2,023,777.30 | ||||||
| ShenzhenQindaoDongchuang | 100,000,000.00 | 100,000,000.00 | ||||||
| InvestmentPartnership(L.P.) | |||||
| RFTopElectronic | 372,858,083.14 | 372,858,083.14 | |||
| SuzhouChengjiaPrecisionManufacturingCo.,Ltd. | 80,109,368.24 | 80,109,368.24 | |||
| SuzhouDongboPrecisionManufacturingCo.,Ltd. | |||||
| SuzhouDongdaiElectronicTechnologyCo.,Ltd. | 1,530,000.00 | 1,530,000.00 | |||
| SuzhouDongjiyuanMetalTechnologyCo.,Ltd. | |||||
| SuzhouDongkeRealEstateCo.,Ltd. | 152,389,096.00 | 152,389,096.00 | |||
| SuzhouDongkuiLightingCo.,Ltd. | 12,100,000.00 | 12,100,000.00 | |||
| SuzhouDongyanElectronicTechnologyCo.,Ltd. | |||||
| SuzhouJebsonIntelligentTechnologyCo.,Ltd. | 255,000.00 | 255,000.00 | |||
| SuzhouYongchuangCommunicationTechnologyCo.,Ltd. | 451,582,710.63 | 451,582,710.63 | |||
| HongKongDongshanPrecisionUnionOptoelectronicCo.,Limited | 3,744,565,150.00 | 133,690,000.00 | 3,744,565,150.00 | 133,690,000.00 | |
| HongKongDongshanHoldingLimited | 452,677,880.00 | 452,677,880.00 | |||
| YanchengDongshanPrecisionManufacturingCo.,Ltd. | 1,093,619,610.92 | 1,093,619,610.92 | |||
| Yancheng | 3,067,267.20 | 3,067,267.20 |
| DongshanBusinessManagementCo.,Ltd. | |||||
| YanchengDongshanCommunicationTechnologyCo.,Ltd. | 280,401,403.77 | 280,401,403.77 | |||
| SuzhouJDIElectronicsInc. | 1,382,684,003.83 | 1,382,684,003.83 | |||
| SuzhouDongshanIndustrialInvestmentCo.,Ltd. | 20,010,000.00 | 20,010,000.00 | |||
| ShanghaiDongxinNewEnergyTechnologyCo.,Ltd. | 80,000,000.00 | 80,000,000.00 | |||
| YanchengDongchuangPrecisionManufacturingCo.,Ltd. | 450,000,000.00 | 450,000,000.00 | |||
| SuzhouDongyueNewEnergyTechnologyCo.,Ltd. | 500,000,000.00 | 500,000,000.00 | |||
| MultekChinaLimited | 71,324.52 | 71,324.52 | |||
| MuttoOptronicsTechnologyCo.,Ltd. | 824,778.48 | 824,778.48 | |||
| MFLEXSuzhouCo.,Ltd. | 7,193,259.60 | 7,193,259.60 | |||
| YanchengMuttoOptronicsTechnologyCo.,Ltd. | 47,549.64 | 47,549.64 | |||
| MFLEXYanchengCo.,Ltd. | 4,175,696.89 | 4,175,696.89 | |||
| MultekIndustriesLimited | 2,425,059.72 | 2,425,059.72 | |||
| DongweiSmartSuzhouCo.,Ltd. | 14,216.26 | 14,216.26 | |||
| ZhuhaiMultekBusinessManagementCo.,Ltd. | 927,217.26 | 927,217.26 | |||
| Total | 9,537,552,453.40 | 133,690,000.00 | 9,537,552,453.40 | 133,690,000.00 |
(2)Investmentsinassociatesandjointventures
InRMB
| Investee | Openingbalance(carryingvalue) | Openingbalanceofallowanceforimpairmentloss | Changesinthecurrentperiod | Closingbalance(carryingvalue) | Closingbalanceofallowanceforimpairmentloss | |||||||
| Additionalinvestment | Reducedinvestment | Investmentincomeorlossunderequitymethod | Adjustmenttoothercomprehensiveincome | Otherchangesinequity | Declaredcashdividendsorprofitdistribution | Allowanceforimpairmentloss | Others | |||||
| II.Associates | ||||||||||||
| SuzhouToprunElectricEquipmentCo.,Ltd. | 11,784,413.39 | 595,463.99 | 12,379,877.38 | |||||||||
| ShenzhenNanfangBlogTechnologyDevelopmentCo.,Ltd. | 17,507,056.47 | 17,507,056.47 | ||||||||||
| ShanghaiFuShanPrecisionManufacturingCo.,Ltd. | ||||||||||||
| SuzhouLEGATEIntelligentEquipmentCorp.,Ltd. | 11,492,208.40 | -962,618.12 | 10,529,590.28 | |||||||||
| SuzhouDongcanOptoelectronicsTechnologyCo.,Ltd. | 3,316,472.49 | -448,465.91 | 2,868,006.58 | |||||||||
| JiangsuNangaoIntelligentEquipmentInnovationCenterCo.,Ltd. | 3,442,835.16 | -892,575.65 | 2,550,259.51 | |||||||||
| JiaozuoSongyangOptoelectricTechnologyCo.,Ltd. | 24,392,091.70 | -1,434,466.66 | 22,957,625.04 | |||||||||
| SuzhouYongxinJingshangVentureCapitalPartnership(L.P.) | 35,877,124.77 | -303,293.85 | 35,573,830.92 | |||||||||
| Subtotal | 90,305,145.91 | 17,507,056.47 | -3,445,956.2 | 86,859,189.71 | 17,507,056.47 | |||||||
| 0 | |||||||
| Total | 90,305,145.91 | 17,507,056.47 | -3,445,956.20 | 86,859,189.71 | 17,507,056.47 |
4.Operatingrevenueandoperatingcosts
InRMB
| Item | Amountofthecurrentperiod | Amountofthepreviousperiod | ||
| Revenue | Cost | Revenue | Cost | |
| Primarybusiness | 2,007,552,995.18 | 1,910,964,376.03 | 2,063,759,581.25 | 2,057,085,061.96 |
| Otherbusinesses | 27,726,642.37 | 12,291,548.13 | 82,843,913.95 | 25,663,449.45 |
| Total | 2,035,279,637.55 | 1,923,255,924.16 | 2,146,603,495.20 | 2,082,748,511.41 |
5.Investmentincome
InRMB
| Item | Amountofthecurrentperiod | Amountofthepreviousperiod |
| Incomefromlong-termequityinvestmentsundertheequitymethod | -3,445,956.20 | -2,927,211.16 |
| Bankwealthmanagementproduct | 160,800.00 | -2,651,138.83 |
| Total | -3,285,156.20 | -5,578,349.99 |
XX.SupplementaryInformation
1.Statementofnon-recurringgainorlossforthecurrentperiod?Applicable□N/A
InRMB
| Item | Amount | Remark |
| Gainorlossfromdisposalofnon-currentassets | -21,866,977.73 | |
| Governmentgrantsrecognizedinprofitorloss(excludingthegovernmentgrantsthatarecloselyrelatedtothebusinessoftheCompany,conformtotheapplicablepolicesofthecountry,areprovidedinaccordancewiththeestablishedstandards,andcontinuouslyaffecttheCompany’sprofitorloss) | 135,129,891.48 | |
| Gainorlossonchangesinfairvalueoffinancialassetsandfinancialliabilitiesheldbynon-financialentities,andgainorlossondisposaloffinancialassetsandfinancialliabilities,exceptforeffectivehedgesheldintheordinarycourseofbusiness | 5,592,799.26 | |
| Othernon-operatingrevenuesandexpenses | 1,345,108.64 | |
| Less:Effectonincometax | 18,885,610.71 | |
| Effectonminorityinterests(exclusiveoftax) | 109,173.64 | |
| Total | 101,206,037.30 | -- |
2.Returnonequityandearningspershare
| Profitforthereportingperiod | Weightedaveragereturn | Earningspershare |
| onnetassets | Basicearningspershare(RMB/share) | Dilutedearningspershare(RMB/share) | |
| NetprofitattributabletoordinaryshareholdersoftheCompany | 3.95% | 0.45 | 0.45 |
| NetprofitattributabletoordinaryshareholdersoftheCompanyafterdeductionofnon-recurringgainorloss | 3.42% | 0.39 | 0.39 |
3.DifferencesinaccountingdataundertheCASBEsandoverseasaccountingstandards
(1)DifferencesinnetprofitandnetassetsdisclosedinthefinancialreportpreparedundertheCASBEsandtheIFRS
□Applicable?N/A
(2)DifferencesinnetprofitandnetassetsdisclosedinthefinancialreportpreparedundertheCASBEsandoverseasaccountingstandards
□Applicable?N/A
(3)DescriptionofthereasonsforthedifferencesintheaccountingdataundertheCASBEsandoverseasaccountingstandards,andthenameoftheoverseasinstitutionthathasauditedthedatareconciledfordifferences
4.Others
SectionIXOtherReportingDataI.OtherMajorSocialSecurityIssues
WhethertheListedCompanyanditssubsidiarieshaveothermajorsocialsecurityissues
□Yes□No?N/AWhetherapunishmentisimposedduringthereportingperiod
□Yes□No?N/A
II.RegistrationFormofInvestigation,Research,Communication,InterviewandOtherActivitiesduringtheReportingPeriod?Applicable□N/A
| Date | Place | Methodofcommunication | Typeofinvestors | Guests | Maintopicsofdiscussionandinformationprovided | Particularsoftheinvestigationandresearchactivityavailableat |
| 2025/04/25 | Online | Communicationbytelephone | Others | 275investorsincludingCITICSecurities | Interpretationofourannualreport,etc. | www.cninfo.com.cn |
| 2025/04/30 | Online | Communicationbytelephone | Others | 141investorsincludingHuataiSecuritiesandotherinvestors | Interpretationofourfirstquarterreport,etc. | www.cninfo.com.cn |
III.PaymentsandReceiptsbytheListedCompanywiththeControllingShareholderandotherRelatedParties
□Applicable?N/A