- Xi'an Pary Power Semiconductor Conversion Technology Co., Ltd. 2025 Annual General Manager Work Report
Dear Directors:
In 2025, under the strong leadership of the Board of Directors, the management of Xi'an Pary Power Semiconductor Conversion Technology Co., Ltd. (hereinafter referred to as "the Company") strictly adhered to the requirements of the Company Law of the People's Republic of China, the Securities Law of the People's Republic of China, and the Articles of Association of Xi'an Pary Power Semiconductor Conversion Technology Co., Ltd. The management faithfully and diligently performed its duties, fully implemented the resolutions of the shareholders' meeting and the Board of Directors, and coordinated the advancement of technological innovation, production operations, management reform, project construction, and risk prevention, striving to ensure the Company's high-quality and stable development. Here, on behalf of the management team, I would like to provide a comprehensive summary report on the work situation for 2025.
1. Overview of Key Operating Conditions in 2025
In 2025, the Company focused on the core business of power semiconductors, adhering to the development principle of "innovation-driven, market-oriented," continuously promoting product iteration and upgrading, optimizing capacity enhancement, and expanding market reach. The sales volume of core products steadily increased throughout the year, with significant achievements in technological innovation, continuous improvement in internal management efficiency, and orderly advancement of fundraising projects as planned. The overall operating situation showed steady progress and quality improvement. In 2025, the Company achieved operating income of 187 million yuan, a year-on-year decrease of 12.61%, and a net profit attributable to shareholders of the listed company of 44 million yuan, a year-on-year decrease of 37.99%. The main reason for the performance fluctuation was the impact of project cycles on the application of core products such as high-power thyristors and IGCTs in ultra-high voltage transmission projects, leading to delays in revenue recognition.
2. Completion of Key Work in 2025
(1) Deepening Party Leadership to Strengthen the Foundation for Corporate Development
In 2025, the Company empowered high-quality development through high-quality party building, successfully completing the optimization and adjustment of the party branch organizational structure, and significantly improving the standardization and normalization of party work. The "first agenda" system was strictly implemented, and regular learning activities such as the promotion of the spirit of the eight central regulations and red-themed education were conducted to solidify the ideological foundation of party members and fully leverage the core role of the party organization in guiding direction, managing the overall situation, and ensuring implementation. An ideological work leadership group was established to standardize information release and public opinion control requirements, firmly safeguarding the ideological security front.
(2) Continuing R&D Investment to Strengthen Independent Innovation Capability
The Company remained committed to its core business and deepened its focus on core technology areas, maintaining stable and continuous R&D investment while dynamically optimizing investment directions based on operational realities, concentrating efforts on tackling key core technologies. In 2025, the Company continued to increase R&D investment and expand the R&D team, laying a solid foundation for technological breakthroughs, obtaining 14 patents throughout the year, and steadily improving the level of independent control over core technologies. Additionally, the Company participated in the revision of two international standards, IEC60747-2 (rectifier diodes) and IEC60747-6 (thyristors), marking China's first leadership in the formulation and revision of IEC power semiconductor device standards, achieving a historic breakthrough.
(3) Focusing on Technological Innovation to Continuously Enhance Core Competitiveness
- New Product Development and Research Achievements Yield Results