2025 Annual Board of Directors Work Report
In the 2025 fiscal year (hereinafter referred to as "the reporting period"), the company's board of directors strictly adhered to the Company Law, Securities Law, Shenzhen Stock Exchange GEM Listing Rules, and relevant regulations, actively carrying out its duties. All directors, with a sense of responsibility towards the company and all shareholders, diligently fulfilled their responsibilities and obligations, strictly executed the resolutions of the shareholders' meeting, and promoted the implementation of board resolutions to ensure the company's standardized operations, foster sustainable and stable development, and continuously improve the corporate governance structure. The main work of the board during the reporting period is reported as follows:
1. Company Operating Conditions in 2025
Under the leadership of the board, the management actively responded to challenges posed by the external environment, focusing on annual operational goals, breaking them down into monthly and departmental targets, and enhancing customer service capabilities. The company seized opportunities for developing new fields and products, continuously optimized its product structure, and maintained a healthy and stable supply chain. Revenue surpassed the adverse impacts of the external environment, achieving steady growth. During the reporting period, the company achieved operating revenue of 1,931.73 million yuan, a year-on-year increase of 36.69%, primarily driven by growth in industrial control, automotive electronics, and communication equipment sectors. Operating profit reached 166.06 million yuan, a year-on-year increase of 0.30%; total profit was 160.53 million yuan, a decrease of 1.74%; net profit attributable to shareholders of the listed company was 128.12 million yuan, down 8.67%; and net profit attributable to shareholders after deducting non-recurring gains and losses was 113.39 million yuan, down 6.80%. The net profit margin was 6.63%, a decrease of 3.29 percentage points. The main reasons are as follows: (1) The continuous rise in international precious metal prices in 2025 led to a significant increase in the procurement prices of key materials such as copper-clad laminates, semi-cured sheets, copper foil, copper balls, tin bars, and gold salts, resulting in a noticeable increase in raw material costs and a decline in net profit margin; (2) An increase in asset impairment losses during the period affected the net profit margin.
At the end of the reporting period, the company's financial condition was good, with total assets increasing by 14.94% compared to the beginning of the period, and equity attributable to shareholders of the listed company increasing by 39.77%. The net asset value per share attributable to shareholders of the listed company rose by 24.03%, mainly due to an increase in undistributed profits and the conversion of convertible bonds during the reporting period.
As of December 31, 2025, the company's main financial data and indicators are as follows:
| Item | 2025 | 2024 | Year-on-Year Change |
|---|---|---|---|
| Total Operating Revenue | 1,931.73 | 1,413.18 | 36.69% |
| Operating Profit | 166.06 | 165.56 | 0.30% |
| Comprehensive Gross Margin | 20.77% | 22.82% | -2.05% |
| Total Profit | 160.53 | 163.37 | -1.74% |
| Net Profit | 128.19 | 140.25 | -8.60% |
| Net Profit Attributable to Parent Company Shareholders | 128.12 | 140.28 | -8.67% |
| Basic Earnings Per Share (yuan/share) | 0.88 | 1.12 | -21.43% |
| Weighted Average Return on Net Assets (%) | 7.29% | 9.07% | -1.78% |
As of December 31, 2025, compared to December 31, 2024, the year-on-year changes are as follows:
| Item | 2025 | 2024 | Year-on-Year Change |
|---|---|---|---|
| Total Assets | 3,018.91 | 2,626.52 | 14.94% |
| Equity Attributable to Parent Company Shareholders | 2,248.80 | 1,608.94 | 39.77% |
| Total Capital at End of Period | 1,605.21 | 1,424.50 | 12.69% |
| Net Asset Value Per Share (yuan/share) | 14.01 | 11.29 | 24.09% |