2025 Annual Report of the Board of Directors
In 2025, the Board of Directors of Inner Mongolia Oujing Technology Co., Ltd. (hereinafter referred to as the "Company") has strictly followed the "Company Law of the People's Republic of China" (hereinafter referred to as the "Company Law"), the "Securities Law of the People's Republic of China" (hereinafter referred to as the "Securities Law"), the "Shenzhen Stock Exchange Stock Listing Rules," and other relevant laws, administrative regulations, and the "Articles of Association" and "Rules of Procedure for Board Meetings." The Company has continuously improved its corporate governance structure, established and improved internal management and control systems, standardized corporate operations, and enhanced corporate governance. With a principle of being responsible to all shareholders, the Board has diligently and conscientiously carried out its work to promote the Company's sustained, healthy, and stable development. The work of the Board of Directors in 2025 and the key work priorities for 2026 are hereby reported as follows:
I. Company's Operating Conditions in 2025
In 2025, the photovoltaic industry was still in a period of deep adjustment. As a core supplier of auxiliary materials for photovoltaic silicon wafer production, the Company's business faced certain challenges and pressures during this adjustment period. Affected by the rapid expansion of industry capacity in the previous period, silicon wafer companies still needed time to recover their operating rates. Although the competitive landscape of the industry has been somewhat optimized, market competition remains fierce, with average selling prices of major products remaining low, albeit with a narrowing decline. The Company has consolidated and developed cooperative relationships with existing customers while expanding downstream customers in the photovoltaic and semiconductor sectors, leading to an increase in sales volume of quartz crucibles compared to the previous year. The Company provisioned for impairment of inventory and some fixed assets, resulting in pressure on the Company's operating performance in 2025.
During the reporting period, the Company achieved operating revenue of 484 million yuan, a year-on-year decrease of 48.83%. Net profit attributable to shareholders of the listed company was -280 million yuan, a year-on-year reduction in loss of 47.79%. Net profit attributable to shareholders of the listed company after deducting non-recurring gains and losses was -286 million yuan, a year-on-year reduction in loss of 46.05%. The Company's management will actively plan for business development, closely follow industry trends, continuously strengthen R&D and technological innovation, implement effective cost reduction and efficiency improvement measures, enhance product quality, strengthen market development efforts, and maintain the Company's competitive advantage in the market.
II. Performance of the Board of Directors' Duties
(I) Convening of Board Meetings and Execution of Resolutions
In 2025, the Board of Directors held 11 meetings. Each proposal submitted to the Board for consideration was carefully reviewed and prudently decided upon. The meeting situation is as follows: