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佛山照明(000541)_公司公告_粤照明B：2025年半年度财务报告(英文版)

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粤照明B：2025年半年度财务报告(英文版)（下载公告）
公告日期:2025-08-28

FOSHANELECTRICALANDLIGHTINGCO.,LTD.

Thesemi-annualfinancialreport2025

August2025

FinancialReport

IAuditor’sReport

Whethertheinterimreporthasbeenaudited?

□Yes?NoTheinterimreportoftheCompanyhasnotbeenaudited.

IIFinancialStatementsCurrencyunitforthefinancialstatementsandthenotesthereto:RMB

1.ConsolidatedBalanceSheetPreparedbyFoshanElectricalandLightingCo.,Ltd.

June30,2025

Unit:RMB

ItemEndingbalanceBeginningbalance
Currentassets:
Monetaryassets3,084,419,399.183,209,127,437.31
Settlementreserve
Interbankloansgranted
Held-for-tradingfinancialassets2,288,376.6843,649,820.47
Derivativefinancialassets
Notesreceivable792,038,054.34997,281,070.21
Accountsreceivable2,243,390,191.302,125,667,291.96
Accountsreceivablefinancing380,276,549.15352,694,866.89
Prepayments32,710,901.4024,419,779.12
Premiumsreceivable
Reinsurancereceivables
Receivablereinsurancecontract
ItemEndingbalanceBeginningbalance
reserve
Otherreceivables69,553,723.4770,524,265.25
Including:Interestreceivable
Dividendsreceivable
Financialassetspurchasedunderresaleagreements
Inventories2,025,757,449.082,025,499,361.38
Including:Dataresources
Contractassets1,126,681.301,690,021.95
Assetsheldforsale17,147,339.8417,147,339.84
Currentportionofnon-currentassets
Othercurrentassets414,826,910.56261,284,776.85
Totalcurrentassets9,063,535,576.309,128,986,031.23
Non-currentassets:
Loansandadvancestocustomers
Investmentsindebtobligations
Investmentsinotherdebtobligations1,155,317,713.391,140,022,863.72
Long-termreceivables
Long-termequityinvestments180,947,314.66180,300,594.89
Investmentsinotherequityinstruments747,257,412.11726,663,613.42
Othernon-currentfinancialassets
Investmentproperty827,883,993.63793,487,046.02
Fixedassets3,572,275,761.683,646,594,206.04
ItemEndingbalanceBeginningbalance
Constructioninprogress293,945,488.06263,601,705.89
Productivelivingassets
Oilandgasassets
Right-of-useassets18,139,960.7222,342,999.34
Intangibleassets383,721,802.95388,587,348.99
Including:Dataresources
Developmentcosts
Including:Dataresources
Goodwill279,564,092.85279,438,540.78
Long-termprepaidexpense253,617,342.85253,024,495.82
Deferredincometaxassets141,555,140.03135,948,224.91
Othernon-currentassets255,160,466.10200,765,785.59
Totalnon-currentassets8,109,386,489.038,030,777,425.41
Totalassets17,172,922,065.3317,159,763,456.64
Currentliabilities:
Short-termborrowings199,599,173.96307,141,147.49
Borrowingsfromthecentralbank
Interbankloansobtained
Held-for-tradingfinancialliabilities275,250.00
Derivativefinancialliabilities
Notespayable1,781,207,077.081,930,784,817.62
Accountspayable2,765,954,401.302,781,965,096.70
Advancesfromcustomers13,633,630.1413,531,474.15
ItemEndingbalanceBeginningbalance
Contractliabilities142,244,278.82119,506,301.48
Financialassetssoldunderrepurchaseagreements
Customerdepositsandinterbankdeposits
Payablesforactingtradingofsecurities
Payablesforunderwritingofsecurities
Employeebenefitspayable176,048,047.84214,651,088.46
Taxespayable78,673,132.01107,085,160.39
Otherpayables669,335,888.63495,717,050.97
Including:Interestpayable
Dividendspayable188,359,258.07
Handlingchargesandcommissionspayable
Reinsurancepayables
Liabilitiesdirectlyassociatedwithassetsheldforsale
Currentportionofnon-currentliabilities154,950,261.52120,574,788.81
Othercurrentliabilities394,759,280.65377,156,212.40
Totalcurrentliabilities6,376,405,171.956,468,388,388.47
Non-currentliabilities:
Insurancecontractreserve
Long-termborrowings131,440,187.61222,581,930.54
Bondspayable
ItemEndingbalanceBeginningbalance
Including:Preferredshares
Perpetualbonds
Leaseliabilities11,380,772.6315,023,993.11
Long-termpayables
Long-termemployeebenefitspayable
Provisions26,914,403.3727,430,683.82
Deferredincome91,488,890.4173,739,179.94
Deferredincometaxliabilities189,304,175.41185,921,269.29
Othernon-currentliabilities175,649.83177,917.63
Totalnon-currentliabilities450,704,079.26524,874,974.33
Totalliabilities6,827,109,251.216,993,263,362.80
Owners’equity:
Sharecapital1,535,778,230.001,548,778,230.00
Otherequityinstruments
Including:Preferredshares
Perpetualbonds
Capitalreserves843,517,955.90914,336,325.66
Less:Treasurystock82,165,144.15
Othercomprehensiveincome425,383,074.84383,429,155.02
Specificreserve5,487,071.024,782,061.20
Surplusreserves167,285,701.79150,097,522.97
Generalreserve
Retainedearnings3,740,440,128.623,655,046,154.57
ItemEndingbalanceBeginningbalance
TotalequityattributabletoownersoftheCompanyastheparent6,717,892,162.176,574,304,305.27
Non-controllinginterests3,627,920,651.953,592,195,788.57
Totalowners’equity10,345,812,814.1210,166,500,093.84
Totalliabilitiesandowners’equity17,172,922,065.3317,159,763,456.64

Legalrepresentative:WanShanChiefFinancialOfficer:ZengXiaojingPerson-in-chargeoftheCompany’saccountingorgan:LiYizhi

2.BalanceSheetoftheCompanyastheParent

Unit:RMB

ItemEndingbalanceBeginningbalance
Currentassets:
Monetaryassets1,227,301,560.141,260,985,441.29
Held-for-tradingfinancialassets95,600.00
Derivativefinancialassets
Notesreceivable60,849,619.9371,832,245.04
Accountsreceivable785,383,196.43745,257,268.31
Accountsreceivablefinancing29,742,336.7167,526,522.26
Prepayments11,827,478.3471,078,813.72
Otherreceivables1,161,580,974.30944,184,445.88
Including:Interestreceivable
Dividendsreceivable4,733,110.26
Inventories246,162,081.25268,069,616.21
Including:Dataresources
Contractassets1,126,681.301,690,021.95
ItemEndingbalanceBeginningbalance
Assetsheldforsale
Currentportionofnon-currentassets
Othercurrentassets156,754,438.06861,413.93
Totalcurrentassets3,680,823,966.463,431,485,788.59
Non-currentassets:
Investmentsindebtobligations
Investmentsinotherdebtobligations1,061,827,379.531,047,759,858.61
Long-termreceivables
Long-termequityinvestments2,482,240,506.322,434,177,186.55
Investmentsinotherequityinstruments700,854,868.31687,581,069.62
Othernon-currentfinancialassets
Investmentproperty196,570,234.20202,079,386.31
Fixedassets583,618,398.55599,351,996.15
Constructioninprogress7,054,078.305,884,955.59
Productivelivingassets
Oilandgasassets
Right-of-useassets11,329,050.698,720,969.67
Intangibleassets58,583,470.9057,347,999.70
Including:Dataresources
Developmentcosts
Including:Dataresources
Goodwill
ItemEndingbalanceBeginningbalance
Long-termprepaidexpense30,209,636.4035,546,452.07
Deferredincometaxassets39,740,384.3438,910,990.65
Othernon-currentassets186,159,759.10120,611,200.89
Totalnon-currentassets5,358,187,766.645,237,972,065.81
Totalassets9,039,011,733.108,669,457,854.40
Currentliabilities:
Short-termborrowings14,556,611.51
Held-for-tradingfinancialliabilities275,250.00
Derivativefinancialliabilities
Notespayable1,016,255,068.69864,782,508.32
Accountspayable962,461,446.94860,893,918.87
Advancesfromcustomers13,367,850.3013,367,850.30
Contractliabilities75,701,497.8258,018,288.88
Employeebenefitspayable53,763,682.5957,145,931.55
Taxespayable43,430,264.9475,527,406.17
Otherpayables499,445,543.51445,875,922.06
Including:Interestpayable
Dividendspayable184,293,387.60
Liabilitiesdirectlyassociatedwithassetsheldforsale
Currentportionofnon-currentliabilities7,831,175.533,581,230.44
Othercurrentliabilities53,231,986.5250,682,086.68
Totalcurrentliabilities2,740,045,128.352,430,150,393.27
ItemEndingbalanceBeginningbalance
Non-currentliabilities:
Long-termborrowings
Bondspayable
Including:Preferredshares
Perpetualbonds
Leaseliabilities3,956,954.175,516,409.11
Long-termpayables
Long-termemployeebenefitspayable
Provisions2,110,312.84
Deferredincome
Deferredincometaxliabilities75,985,122.6668,096,992.10
Othernon-currentliabilities
Totalnon-currentliabilities79,942,076.8375,723,714.05
Totalliabilities2,819,987,205.182,505,874,107.32
Owners’equity:
Sharecapital1,535,778,230.001,548,778,230.00
Otherequityinstruments
Including:Preferredshares
Perpetualbonds
Capitalreserves839,893,397.29909,058,541.44
Less:Treasurystock82,165,144.15
Othercomprehensiveincome425,971,708.97383,570,431.32
Specificreserve3,194,742.643,170,252.81
ItemEndingbalanceBeginningbalance
Surplusreserves398,589,771.03381,401,592.21
Retainedearnings3,015,596,677.993,019,769,843.45
Totalowners’equity6,219,024,527.926,163,583,747.08
Totalliabilitiesandowners’equity9,039,011,733.108,669,457,854.40

Legalrepresentative:WanShanChiefFinancialOfficer:ZengXiaojingPerson-in-chargeoftheCompany’saccountingorgan:LiYizhi

3.ConsolidatedIncomeStatement

Unit:RMB

ItemH12025H12024
1.Revenue4,385,731,119.784,784,545,767.42
Including:Operatingrevenue4,385,731,119.784,784,545,767.42
Interestincome
Insurancepremiumincome
Handlingchargeandcommissionincome
2.Costsandexpenses4,257,961,593.804,531,278,513.54
Including:Costofsales3,565,320,556.683,870,251,108.01
Interestexpense
Handlingchargeandcommissionexpense
Surrenders
Netinsuranceclaimspaid
Netamountprovidedasinsurancecontractreserve
Expenditureonpolicydividends
ItemH12025H12024
Reinsurancepremiumexpense
Taxesandsurcharges35,195,442.1837,916,939.23
Sellingexpense182,892,072.03167,217,797.90
Administrativeexpense224,001,579.55226,332,962.51
R&Dexpense267,669,599.53260,165,950.63
Financecosts-17,117,656.17-30,606,244.74
Including:Interestexpense8,116,483.1411,047,212.70
Interestincome20,148,088.6925,938,447.85
Add:Otherincome45,245,132.4560,151,413.19
Returnoninvestment(“-”forloss)27,447,075.8438,017,499.24
Including:Shareofprofitorlossofjointventuresandassociates646,719.771,444,720.72
Incomefromthederecognitionoffinancialassetsatamortizedcost(“-”forloss)
Exchangegain(“-”forloss)
Netgainonexposurehedges(“-”forloss)
Gainonchangesinfairvalue(“-”forloss)345,894.65-601,447.40
Creditimpairmentloss(“-”forloss)-12,101,495.69-38,270,808.58
Assetimpairmentloss(“-”forloss)-22,424,871.33-36,958,804.89
Assetdisposalincome(“-”forloss)-64,693.00-99,108.79
3.Operatingprofit(“-”forloss)166,216,568.90275,505,996.65
Add:Non-operatingincome2,113,315.353,054,859.55
ItemH12025H12024
Less:Non-operatingexpense2,087,195.60486,217.43
4.Profitbeforetax(“-”forloss)166,242,688.65278,074,638.77
Less:Incometaxexpense18,318,812.9224,632,382.12
5.Netprofit(“-”fornetloss)147,923,875.73253,442,256.65
5.1Byoperatingcontinuity
5.1.1Netprofitfromcontinuingoperations(“-”fornetloss)147,923,875.73253,442,256.65
5.1.2Netprofitfromdiscontinuedoperations(“-”fornetloss)
5.2Byownership
5.2.1NetprofitattributabletoshareholdersoftheCompanyastheparent(“-”fornetloss)114,993,752.24192,229,182.38
5.2.2Netprofitattributabletonon-controllinginterests(“-”fornetloss)32,930,123.4961,213,074.27
6.Othercomprehensiveincome,netoftax213,491,772.64-22,766,075.54
AttributabletoownersoftheCompanyastheparent213,835,708.05-22,203,388.92
6.1Itemsthatwillnotbereclassifiedtoprofitorloss214,283,065.88-21,548,515.71
6.1.1Changescausedbyremeasurementsondefinedbenefitschemes
6.1.2Othercomprehensiveincomethatwillnotbereclassifiedtoprofitorlossundertheequitymethod
6.1.3Changesinthefairvalueofinvestmentsinotherequityinstruments214,283,065.88-21,548,515.71
6.1.4Changesinthefairvalue
ItemH12025H12024
arisingfromchangesinowncreditrisk
6.1.5Other
6.2Itemsthatwillbereclassifiedtoprofitorloss-447,357.83-654,873.21
6.2.1Othercomprehensiveincomethatwillbereclassifiedtoprofitorlossundertheequitymethod
6.2.2Changesinthefairvalueofinvestmentsinotherdebtobligations
6.2.3Othercomprehensiveincomearisingfromthereclassificationoffinancialassets
6.2.4Creditimpairmentallowanceforinvestmentsinotherdebtobligations
6.2.5Reserveforcashflowhedges
6.2.6Differencesarisingfromthetranslationofforeigncurrency-denominatedfinancialstatements-447,357.83-654,873.21
6.2.7Other
Attributabletonon-controllinginterests-343,935.41-562,686.62
7.Totalcomprehensiveincome361,415,648.37230,676,181.11
AttributabletoownersoftheCompanyastheparent328,829,460.29170,025,793.46
Attributabletonon-controllinginterests32,586,188.0860,650,387.65
8.Earningspershare
8.1Basicearningspershare0.07490.1252
8.2Dilutedearningspershare0.07480.1241

Wherebusinesscombinationsundercommoncontroloccurredinthecurrentperiod,thenetprofitachievedbytheacquireesbeforethecombinationswasRMB0.00,withtheamountforthesameperiodoflastyearbeingRMB0.00.Legalrepresentative:WanShanChiefFinancialOfficer:ZengXiaojingPerson-in-chargeoftheCompany’saccountingorgan:LiYizhi

4.IncomeStatementoftheCompanyastheParent

Unit:RMB

ItemH12025H12024
1.Operatingrevenue1,375,713,664.691,799,801,338.92
Less:Costofsales1,098,937,232.291,378,551,377.80
Taxesandsurcharges13,565,054.3915,272,851.85
Sellingexpense124,554,920.28110,943,993.00
Administrativeexpense78,778,907.8898,157,531.70
R&Dexpense63,700,067.5283,461,134.06
Financecosts-5,528,642.24-18,473,106.96
Including:Interestexpense860,302.39205,821.60
Interestincome5,633,071.278,056,174.38
Add:Otherincome3,932,905.0511,207,995.85
Returnoninvestment(“-”forloss)31,566,338.4638,136,678.31
Including:Shareofprofitorlossofjointventuresandassociates646,719.771,444,720.72
Incomefromthederecognitionoffinancialassetsatamortizedcost(“-”forloss)
Netgainonexposurehedges(“-”forloss)
Gainonchangesinfairvalue(“-”forloss)134,700.0099,400.00
Creditimpairmentloss(“-”forloss)-3,137,238.29-22,899,921.83
ItemH12025H12024
Assetimpairmentloss(“-”forloss)-8,828,838.84-5,911,919.35
Assetdisposalincome(“-”forloss)
2.Operatingprofit(“-”forloss)25,373,990.95152,519,790.45
Add:Non-operatingincome26,638.491,706,418.89
Less:Non-operatingexpense524,656.29127,113.54
3.Profitbeforetax(“-”forloss)24,875,973.15154,099,095.80
Less:Incometaxexpense-550,639.5818,488,977.50
4.Netprofit(“-”fornetloss)25,426,612.73135,610,118.30
4.1Netprofitfromcontinuingoperations(“-”fornetloss)25,426,612.73135,610,118.30
4.2Netprofitfromdiscontinuedoperations(“-”fornetloss)
5.Othercomprehensiveincome,netoftax214,283,065.88-21,548,515.71
5.1Itemsthatwillnotbereclassifiedtoprofitorloss214,283,065.88-21,548,515.71
5.1.1Changescausedbyremeasurementsondefinedbenefitschemes
5.1.2Othercomprehensiveincomethatwillnotbereclassifiedtoprofitorlossundertheequitymethod
5.1.3Changesinthefairvalueofinvestmentsinotherequityinstruments214,283,065.88-21,548,515.71
5.1.4Changesinthefairvaluearisingfromchangesinowncreditrisk
5.1.5Other
5.2Itemsthatwillbereclassified
ItemH12025H12024
toprofitorloss
5.2.1Othercomprehensiveincomethatwillbereclassifiedtoprofitorlossundertheequitymethod
5.2.2Changesinthefairvalueofinvestmentsinotherdebtobligations
5.2.3Othercomprehensiveincomearisingfromthereclassificationoffinancialassets
5.2.4Creditimpairmentallowanceforinvestmentsinotherdebtobligations
5.2.5Reserveforcashflowhedges
5.2.6Differencesarisingfromthetranslationofforeigncurrency-denominatedfinancialstatements
5.2.7Other
6.Totalcomprehensiveincome239,709,678.61114,061,602.59
7.Earningspershare
7.1Basicearningspershare
7.2Dilutedearningspershare

Legalrepresentative:WanShanChiefFinancialOfficer:ZengXiaojingPerson-in-chargeoftheCompany’saccountingorgan:LiYizhi

5.ConsolidatedCashFlowStatement

Unit:RMB

ItemH12025H12024
1.Cashflowsfromoperatingactivities:
Proceedsfromsaleofcommoditiesandrenderingofservices4,100,249,556.884,381,995,484.08
ItemH12025H12024
Netincreaseincustomerdepositsandinterbankdeposits
Netincreaseinborrowingsfromthecentralbank
Netincreaseinloansfromotherfinancialinstitutions
Premiumsreceivedonoriginalinsurancecontracts
Netproceedsfromreinsurance
Netincreaseindepositsandinvestmentsofpolicyholders
Interest,handlingchargesandcommissionsreceived
Netincreaseininterbankloansobtained
Netincreaseinproceedsfromrepurchasetransactions
Netproceedsfromactingtradingofsecurities
Taxrebates88,415,257.9482,383,727.52
Cashgeneratedfromotheroperatingactivities98,470,018.95119,388,419.41
Subtotalofcashgeneratedfromoperatingactivities4,287,134,833.774,583,767,631.01
Paymentsforcommoditiesandservices3,072,000,160.703,124,222,860.48
Netincreaseinloansandadvancestocustomers
Netincreaseindepositsinthecentralbankandininterbankloansgranted
Paymentsforclaimsonoriginalinsurancecontracts
ItemH12025H12024
Netincreaseininterbankloansgranted
Interest,handlingchargesandcommissionspaid
Policydividendspaid
Cashpaidtoandforemployees793,037,980.68731,015,486.26
Taxespaid197,243,157.16151,177,949.87
Cashusedinotheroperatingactivities215,008,522.28192,758,289.79
Subtotalofcashusedinoperatingactivities4,277,289,820.824,199,174,586.40
Netcashgeneratedfrom/usedinoperatingactivities9,845,012.95384,593,044.61
2.Cashflowsfrominvestingactivities:
Proceedsfromdisinvestment386,722,784.87305,000,000.00
Returnoninvestment12,193,550.2724,056,243.57
Netproceedsfromthedisposaloffixedassets,intangibleassetsandotherlong-livedassets43,414.0022,544,055.06
Netproceedsfromthedisposalofsubsidiariesandotherbusinessunits
Cashgeneratedfromotherinvestingactivities23,042,757.16
Subtotalofcashgeneratedfrominvestingactivities422,002,506.30351,600,298.63
Paymentsfortheacquisitionoffixedassets,intangibleassetsandotherlong-livedassets188,617,109.18159,583,095.03
Paymentsforinvestments252,320,000.001,024,000,000.00
Netincreaseinpledgedloans
ItemH12025H12024
granted
Netpaymentsfortheacquisitionofsubsidiariesandotherbusinessunits
Cashusedinotherinvestingactivities
Subtotalofcashusedininvestingactivities440,937,109.181,183,583,095.03
Netcashgeneratedfrom/usedininvestingactivities-18,934,602.88-831,982,796.40
3.Cashflowsfromfinancingactivities:
Capitalcontributionsreceived
Including:Capitalcontributionsbynon-controllingintereststosubsidiaries
Borrowingsraised63,768,004.07200,111,329.57
Cashgeneratedfromotherfinancingactivities35,675,972.287,224,809.91
Subtotalofcashgeneratedfromfinancingactivities99,443,976.35207,336,139.48
Repaymentofborrowings184,157,032.76136,959,822.56
Interestanddividendspaid30,690,680.7939,360,714.14
Including:Dividendspaidbysubsidiariestonon-controllinginterests24,282,863.7029,139,436.44
Cashusedinotherfinancingactivities16,484,020.6411,501,309.43
Subtotalofcashusedinfinancingactivities231,331,734.19187,821,846.13
Netcashgeneratedfrom/usedinfinancingactivities-131,887,757.8419,514,293.35
4.Effectofforeignexchangerates2,424,112.0814,380,245.23
ItemH12025H12024
changesoncashandcashequivalents
5.Netincreaseincashandcashequivalents-138,553,235.69-413,495,213.21
Add:Cashandcashequivalents,beginningoftheperiod2,684,382,020.413,101,252,943.88
6.Cashandcashequivalents,endoftheperiod2,545,828,784.722,687,757,730.67

Legalrepresentative:WanShanChiefFinancialOfficer:ZengXiaojingPerson-in-chargeoftheCompany’saccountingorgan:LiYizhi

6.CashFlowStatementoftheCompanyastheParent

Unit:RMB

ItemH12025H12024
1.Cashflowsfromoperatingactivities:
Proceedsfromsaleofcommoditiesandrenderingofservices1,309,774,743.221,714,147,588.24
Taxrebates43,232,841.3537,731,938.65
Cashgeneratedfromotheroperatingactivities18,841,629.9039,430,747.84
Subtotalofcashgeneratedfromoperatingactivities1,371,849,214.471,791,310,274.73
Paymentsforcommoditiesandservices1,062,624,948.981,212,273,623.36
Cashpaidtoandforemployees199,120,202.97231,944,514.55
Taxespaid93,662,045.5159,269,827.89
Cashusedinotheroperatingactivities93,658,109.4268,770,731.65
Subtotalofcashusedinoperatingactivities1,449,065,306.881,572,258,697.45
Netcashgeneratedfrom/usedin-77,216,092.41219,051,577.28
ItemH12025H12024
operatingactivities
2.Cashflowsfrominvestingactivities:
Proceedsfromdisinvestment249,522,784.87
Returnoninvestment12,328,693.0724,016,123.90
Netproceedsfromthedisposaloffixedassets,intangibleassetsandotherlong-livedassets22,433,746.58
Netproceedsfromthedisposalofsubsidiariesandotherbusinessunits
Cashgeneratedfromotherinvestingactivities215,850.0035,000,000.00
Subtotalofcashgeneratedfrominvestingactivities262,067,327.9481,449,870.48
Paymentsfortheacquisitionoffixedassets,intangibleassetsandotherlong-livedassets70,343,058.9927,169,498.35
Paymentsforinvestments197,416,600.00714,920,000.00
Netpaymentsfortheacquisitionofsubsidiariesandotherbusinessunits
Cashusedinotherinvestingactivities178,883,363.61
Subtotalofcashusedininvestingactivities267,759,658.99920,972,861.96
Netcashgeneratedfrom/usedininvestingactivities-5,692,331.05-839,522,991.48
3.Cashflowsfromfinancingactivities:
Capitalcontributionsreceived
Borrowingsraised14,556,611.51
Cashgeneratedfromother
ItemH12025H12024
financingactivities
Subtotalofcashgeneratedfromfinancingactivities14,556,611.51
Repaymentofborrowings
Interestanddividendspaid
Cashusedinotherfinancingactivities
Subtotalofcashusedinfinancingactivities
Netcashgeneratedfrom/usedinfinancingactivities14,556,611.51
4.Effectofforeignexchangerateschangesoncashandcashequivalents237,020.059,378,014.06
5.Netincreaseincashandcashequivalents-68,114,791.90-611,093,400.14
Add:Cashandcashequivalents,beginningoftheperiod1,084,153,666.221,610,082,668.66
6.Cashandcashequivalents,endoftheperiod1,016,038,874.32998,989,268.52

Legalrepresentative:WanShanChiefFinancialOfficer:ZengXiaojingPerson-in-chargeoftheCompany’saccountingorgan:LiYizhi

7.ConsolidatedStatementsofChangesinOwners’EquityH12025

Unit:RMB

ItemH12025
EquityattributabletoownersoftheCompanyastheparentNon-controllinginterestsTotalowners’equity
SharecapitalOtherequityinstrumentsCapitalreservesLess:TreasurystockOthercomprehensiveincomeSpecificreserveSurplusreservesGeneralreserveRetainedearningsOtherSubtotal
PreferredsharesPerpetualbondsOther
1.Balanceasattheendoftheperiodofprioryear1,548,778,230.00914,336,325.6682,165,144.15383,429,155.024,782,061.20150,097,522.973,655,046,154.576,574,304,305.273,592,195,788.5710,166,500,093.84
Add:Adjustmentforchangeinaccountingpolicy
Adjustmentforcorrectionofpreviouserror
Otheradjustmen
ItemH12025
EquityattributabletoownersoftheCompanyastheparentNon-controllinginterestsTotalowners’equity
SharecapitalOtherequityinstrumentsCapitalreservesLess:TreasurystockOthercomprehensiveincomeSpecificreserveSurplusreservesGeneralreserveRetainedearningsOtherSubtotal
PreferredsharesPerpetualbondsOther
ts
2.BalanceasatthebeginningoftheReportingPeriod1,548,778,230.00914,336,325.6682,165,144.15383,429,155.024,782,061.20150,097,522.973,655,046,154.576,574,304,305.273,592,195,788.5710,166,500,093.84
3.Increase/decreaseintheperiod(“-”fordecrease)-13,000,000.00-70,818,369.76-82,165,144.1541,953,919.82705,009.8217,188,178.8285,393,974.05143,587,856.9035,724,863.38179,312,720.28
3.1Totalcomprehensiveincome213,835,708.05114,993,752.24328,829,460.2932,586,188.08361,415,648.37
3.2Capitalincreasedandreducedbyowners-13,000,000.00-70,818,369.76-82,165,144.15-1,653,225.6128,999,773.0727,346,547.46
ItemH12025
EquityattributabletoownersoftheCompanyastheparentNon-controllinginterestsTotalowners’equity
SharecapitalOtherequityinstrumentsCapitalreservesLess:TreasurystockOthercomprehensiveincomeSpecificreserveSurplusreservesGeneralreserveRetainedearningsOtherSubtotal
PreferredsharesPerpetualbondsOther
3.2.1Ordinarysharesincreasedbyowners
3.2.2Capitalincreasedbyholdersofotherequityinstruments
3.2.3Share-basedpaymentsincludedinowners’equity
3.2.4Other-13,000,000.00-70,818,369.76-82,165,144.15-1,653,225.6128,999,773.0727,346,547.46
3.3Profitdistributio-184,293,38-184,293,38-28,348,734.-212,642,121
ItemH12025
EquityattributabletoownersoftheCompanyastheparentNon-controllinginterestsTotalowners’equity
SharecapitalOtherequityinstrumentsCapitalreservesLess:TreasurystockOthercomprehensiveincomeSpecificreserveSurplusreservesGeneralreserveRetainedearningsOtherSubtotal
PreferredsharesPerpetualbondsOther
n7.607.6017.77
3.3.1Appropriationtosurplusreserves
3.3.2Appropriationtogeneralreserve
3.3.3Appropriationtoowners(orshareholders)-184,293,387.60-184,293,387.60-28,348,734.17-212,642,121.77
3.3.4Other
3.4Transferswithinowners’-171,881,788.2317,188,178.82154,693,609.41
ItemH12025
EquityattributabletoownersoftheCompanyastheparentNon-controllinginterestsTotalowners’equity
SharecapitalOtherequityinstrumentsCapitalreservesLess:TreasurystockOthercomprehensiveincomeSpecificreserveSurplusreservesGeneralreserveRetainedearningsOtherSubtotal
PreferredsharesPerpetualbondsOther
equity
3.4.1Increaseincapital(orsharecapital)fromcapitalreserves
3.4.2Increaseincapital(orsharecapital)fromsurplusreserves
3.4.3Lossoffsetbysurplusreserves
3.4.4Changesindefinedbenefitschemes
ItemH12025
EquityattributabletoownersoftheCompanyastheparentNon-controllinginterestsTotalowners’equity
SharecapitalOtherequityinstrumentsCapitalreservesLess:TreasurystockOthercomprehensiveincomeSpecificreserveSurplusreservesGeneralreserveRetainedearningsOtherSubtotal
PreferredsharesPerpetualbondsOther
transferredtoretainedearnings
3.4.5Othercomprehensiveincometransferredtoretainedearnings-171,881,788.2317,188,178.82154,693,609.41
3.4.6Other
3.5Specificreserve705,009.82705,009.822,487,636.403,192,646.22
3.5.1Increaseintheperiod11,812,685.8211,812,685.825,958,913.0517,771,598.87
3.5.2Usedin11,107,676.0011,107,676.003,471,276.6514,578,952.65
ItemH12025
EquityattributabletoownersoftheCompanyastheparentNon-controllinginterestsTotalowners’equity
SharecapitalOtherequityinstrumentsCapitalreservesLess:TreasurystockOthercomprehensiveincomeSpecificreserveSurplusreservesGeneralreserveRetainedearningsOtherSubtotal
PreferredsharesPerpetualbondsOther
theperiod
3.6Other
4.BalanceasattheendoftheReportingPeriod1,535,778,230.00843,517,955.90425,383,074.845,487,071.02167,285,701.793,740,440,128.626,717,892,162.173,627,920,651.9510,345,812,814.12

H12024

Unit:RMB

ItemH12024
EquityattributabletoownersoftheCompanyastheparentNon-controllinginterestsTotalowners’equity
SharecapitalOtherequityinstrumentsCapitalreservesLess:TreasurystockOthercomprehensiveincomeSpecificreserveSurplusreservesGeneralreserveRetainedearningsOtherSubtotal
PreferredsharesPerpetualbondsOther
1.Balance1,548,778,230.00914,336,325.6682,165,144.15360,027,027.591,213,325.92107,944,679.063,435,308,364.116,285,442,808.193,485,954,680.869,771,397,489.05
ItemH12024
EquityattributabletoownersoftheCompanyastheparentNon-controllinginterestsTotalowners’equity
SharecapitalOtherequityinstrumentsCapitalreservesLess:TreasurystockOthercomprehensiveincomeSpecificreserveSurplusreservesGeneralreserveRetainedearningsOtherSubtotal
PreferredsharesPerpetualbondsOther
asattheendoftheperiodofprioryear
Add:Adjustmentforchangeinaccountingpolicy
Adjustmentforcorrectionofpreviouserror
Otheradjustments
2.BalanceasatthebeginningoftheReportingPeriod1,548,778,230.00914,336,325.6682,165,144.15360,027,027.591,213,325.92107,944,679.063,435,308,364.116,285,442,808.193,485,954,680.869,771,397,489.05
ItemH12024
EquityattributabletoownersoftheCompanyastheparentNon-controllinginterestsTotalowners’equity
SharecapitalOtherequityinstrumentsCapitalreservesLess:TreasurystockOthercomprehensiveincomeSpecificreserveSurplusreservesGeneralreserveRetainedearningsOtherSubtotal
PreferredsharesPerpetualbondsOther
3.Increase/decreaseintheperiod(“-”fordecrease)-22,203,388.923,194,038.767,935,794.78-11,073,555.3833,697,912.1022,624,356.72
3.1Totalcomprehensiveincome-22,203,388.92192,229,182.38170,025,793.4660,650,387.65230,676,181.11
3.2Capitalincreasedandreducedbyowners
3.2.1Ordinarysharesincreasedbyowners
3.2.2Capitalincreasedby
ItemH12024
EquityattributabletoownersoftheCompanyastheparentNon-controllinginterestsTotalowners’equity
SharecapitalOtherequityinstrumentsCapitalreservesLess:TreasurystockOthercomprehensiveincomeSpecificreserveSurplusreservesGeneralreserveRetainedearningsOtherSubtotal
PreferredsharesPerpetualbondsOther
holdersofotherequityinstruments
3.2.3Share-basedpaymentsincludedinowners’equity
3.2.4Other
3.3Profitdistribution-184,293,387.60-184,293,387.60-29,139,436.44-213,432,824.04
3.3.1Appropriationtosurplusreserves
3.3.2Appropria
ItemH12024
EquityattributabletoownersoftheCompanyastheparentNon-controllinginterestsTotalowners’equity
SharecapitalOtherequityinstrumentsCapitalreservesLess:TreasurystockOthercomprehensiveincomeSpecificreserveSurplusreservesGeneralreserveRetainedearningsOtherSubtotal
PreferredsharesPerpetualbondsOther
tiontogeneralreserve
3.3.3Appropriationtoowners(orshareholders)-184,293,387.60-184,293,387.60-29,139,436.44-213,432,824.04
3.3.4Other
3.4Transferswithinowners’equity
3.4.1Increaseincapital(orsharecapital)fromcapitalreserves
ItemH12024
EquityattributabletoownersoftheCompanyastheparentNon-controllinginterestsTotalowners’equity
SharecapitalOtherequityinstrumentsCapitalreservesLess:TreasurystockOthercomprehensiveincomeSpecificreserveSurplusreservesGeneralreserveRetainedearningsOtherSubtotal
PreferredsharesPerpetualbondsOther
3.4.2Increaseincapital(orsharecapital)fromsurplusreserves
3.4.3Lossoffsetbysurplusreserves
3.4.4Changesindefinedbenefitschemestransferredtoretainedearnings
3.4.5Othercomprehensiveincometransferre
ItemH12024
EquityattributabletoownersoftheCompanyastheparentNon-controllinginterestsTotalowners’equity
SharecapitalOtherequityinstrumentsCapitalreservesLess:TreasurystockOthercomprehensiveincomeSpecificreserveSurplusreservesGeneralreserveRetainedearningsOtherSubtotal
PreferredsharesPerpetualbondsOther
dtoretainedearnings
3.4.6Other
3.5Specificreserve3,194,038.763,194,038.762,186,960.895,380,999.65
3.5.1Increaseintheperiod4,940,359.024,940,359.023,049,660.907,990,019.92
3.5.2Usedintheperiod1,746,320.261,746,320.26862,700.012,609,020.27
3.6Other
4.BalanceasattheendoftheReportingPeriod1,548,778,230.00914,336,325.6682,165,144.15337,823,638.674,407,364.68107,944,679.063,443,244,158.896,274,369,252.813,519,652,592.969,794,021,845.77

Legalrepresentative:WanShanChiefFinancialOfficer:ZengXiaojingPerson-in-chargeoftheCompany’saccountingorgan:LiYizhi

8.StatementsofChangesinOwners’EquityoftheCompanyastheParentH12025

Unit:RMB

ItemH12025
SharecapitalOtherequityinstrumentsCapitalreservesLess:TreasurystockOthercomprehensiveincomeSpecificreserveSurplusreservesRetainedearningsOtherTotalowners’equity
PreferredsharesPerpetualbondsOther
1.Balanceasattheendoftheperiodofprioryear1,548,778,230.00909,058,541.4482,165,144.15383,570,431.323,170,252.81381,401,592.213,019,769,843.456,163,583,747.08
Add:Adjustmentforchangeinaccountingpolicy
Adjustmentforcorrectionofpreviouserror
Otheradjustments
2.BalanceasatthebeginningoftheReporting1,548,778,230.00909,058,541.4482,165,144.15383,570,431.323,170,252.81381,401,592.213,019,769,843.456,163,583,747.08
ItemH12025
SharecapitalOtherequityinstrumentsCapitalreservesLess:TreasurystockOthercomprehensiveincomeSpecificreserveSurplusreservesRetainedearningsOtherTotalowners’equity
PreferredsharesPerpetualbondsOther
Period
3.Increase/decreaseintheperiod(“-”fordecrease)-13,000,000.00-69,165,144.15-82,165,144.1542,401,277.6524,489.8317,188,178.82-4,173,165.4655,440,780.84
3.1Totalcomprehensiveincome214,283,065.8825,426,612.73239,709,678.61
3.2Capitalincreasedandreducedbyowners-13,000,000.00-69,165,144.15-82,165,144.15
3.2.1Ordinarysharesincreasedbyowners
3.2.2Capitalincreasedbyholdersofotherequityinstruments
3.2.3Share-basedpaymentsincludedinowners’
ItemH12025
SharecapitalOtherequityinstrumentsCapitalreservesLess:TreasurystockOthercomprehensiveincomeSpecificreserveSurplusreservesRetainedearningsOtherTotalowners’equity
PreferredsharesPerpetualbondsOther
equity
3.2.4Other-13,000,000.00-69,165,144.15-82,165,144.15
3.3Profitdistribution-184,293,387.60-184,293,387.60
3.3.1Appropriationtosurplusreserves
3.3.2Appropriationtoowners(orshareholders)-184,293,387.60-184,293,387.60
3.3.3Other
3.4Transferswithinowners’equity-171,881,788.2317,188,178.82154,693,609.41
3.4.1Increaseincapital(orsharecapital)fromcapitalreserves
ItemH12025
SharecapitalOtherequityinstrumentsCapitalreservesLess:TreasurystockOthercomprehensiveincomeSpecificreserveSurplusreservesRetainedearningsOtherTotalowners’equity
PreferredsharesPerpetualbondsOther
3.4.2Increaseincapital(orsharecapital)fromsurplusreserves
3.4.3Lossoffsetbysurplusreserves
3.4.4Changesindefinedbenefitschemestransferredtoretainedearnings
3.4.5Othercomprehensiveincometransferredtoretainedearnings-171,881,788.2317,188,178.82154,693,609.41
3.4.6Other
3.5Specificreserve24,489.8324,489.83
ItemH12025
SharecapitalOtherequityinstrumentsCapitalreservesLess:TreasurystockOthercomprehensiveincomeSpecificreserveSurplusreservesRetainedearningsOtherTotalowners’equity
PreferredsharesPerpetualbondsOther
3.5.1Increaseintheperiod5,741,655.375,741,655.37
3.5.2Usedintheperiod5,717,165.545,717,165.54
3.6Other
4.BalanceasattheendoftheReportingPeriod1,535,778,230.00839,893,397.29425,971,708.973,194,742.64398,589,771.033,015,596,677.996,219,024,527.92

H12024

Unit:RMB

ItemH12024
SharecapitalOtherequityinstrumentsCapitalreservesLess:TreasurystockOthercomprehensiveincomeSpecificreserveSurplusreservesRetainedearningsOtherTotalowners’equity
PreferredsharesPerpetualbondsOther
1.Balanceasattheendoftheperiodofprioryear1,548,778,230.00909,058,541.4482,165,144.15359,858,073.06897,781.74339,248,748.302,824,687,635.905,900,363,866.29
Add:
ItemH12024
SharecapitalOtherequityinstrumentsCapitalreservesLess:TreasurystockOthercomprehensiveincomeSpecificreserveSurplusreservesRetainedearningsOtherTotalowners’equity
PreferredsharesPerpetualbondsOther
Adjustmentforchangeinaccountingpolicy
Adjustmentforcorrectionofpreviouserror
Otheradjustments
2.BalanceasatthebeginningoftheReportingPeriod1,548,778,230.00909,058,541.4482,165,144.15359,858,073.06897,781.74339,248,748.302,824,687,635.905,900,363,866.29
3.Increase/decreaseintheperiod(“-”fordecrease)-21,548,515.712,595,771.82-48,683,269.30-67,636,013.19
3.1Totalcomprehensiveincome-21,548,515.71135,610,118.30114,061,602.59
3.2Capitalincreasedandreducedbyowners
ItemH12024
SharecapitalOtherequityinstrumentsCapitalreservesLess:TreasurystockOthercomprehensiveincomeSpecificreserveSurplusreservesRetainedearningsOtherTotalowners’equity
PreferredsharesPerpetualbondsOther
3.2.1Ordinarysharesincreasedbyowners
3.2.2Capitalincreasedbyholdersofotherequityinstruments
3.2.3Share-basedpaymentsincludedinowners’equity
3.2.4Other
3.3Profitdistribution-184,293,387.60-184,293,387.60
3.3.1Appropriationtosurplusreserves
3.3.2Appropriationtoowners(or-184,293,387.60-184,293,387.60
ItemH12024
SharecapitalOtherequityinstrumentsCapitalreservesLess:TreasurystockOthercomprehensiveincomeSpecificreserveSurplusreservesRetainedearningsOtherTotalowners’equity
PreferredsharesPerpetualbondsOther
shareholders)
3.3.3Other
3.4Transferswithinowners’equity
3.4.1Increaseincapital(orsharecapital)fromcapitalreserves
3.4.2Increaseincapital(orsharecapital)fromsurplusreserves
3.4.3Lossoffsetbysurplusreserves
3.4.4Changesindefinedbenefitschemestransferredto
ItemH12024
SharecapitalOtherequityinstrumentsCapitalreservesLess:TreasurystockOthercomprehensiveincomeSpecificreserveSurplusreservesRetainedearningsOtherTotalowners’equity
PreferredsharesPerpetualbondsOther
retainedearnings
3.4.5Othercomprehensiveincometransferredtoretainedearnings
3.4.6Other
3.5Specificreserve2,595,771.822,595,771.82
3.5.1Increaseintheperiod4,106,091.114,106,091.11
3.5.2Usedintheperiod1,510,319.291,510,319.29
3.6Other
4.BalanceasattheendoftheReportingPeriod1,548,778,230.00909,058,541.4482,165,144.15338,309,557.353,493,553.56339,248,748.302,776,004,366.605,832,727,853.10

Legalrepresentative:WanShanChiefFinancialOfficer:ZengXiaojingPerson-in-chargeoftheCompany’saccountingorgan:LiYizhi

IIICompanyProfile

(I)BasicinformationFoshanElectricalandLightingCo.,Ltd.(hereinafterreferredtoas“theCompany”),ajoint-stocklimitedcompanyjointlyfoundedbyFoshanElectricalandLightingCompany,NanhaiWuzhuangColorGlazedBrickField,andFoshanPoyangPrintingIndustrialCo.onOctober20,1992byraisingfundsundertheapprovalofYGS(1992)No.63DocumentissuedbytheJointExaminationGroupforExperimentalEnterprisesinStockSystemofGuangdongProvinceandtheEconomicSystemReformCommissionofGuangdongProvince,isanenterprisewithitssharesheldbyboththecorporateandthenaturalpersons.AsapprovedbyChinaSecuritiesRegulatoryCommissionwithDocument(1993)No.33,theCompanypubliclyissued19.3millionsharesofsocialpublicshares(Ashares)tothepublicinOctober1993,andwaslistedinShenzhenStockExchangefortradeonNovember23,1993.TheCompanywasapprovedtoissue50millionBsharesonJuly23,1995.And,asapprovedtochangeintoaforeign-investedstocklimitedcompanyonAugust26,1996by(1996)WJMZEHZNo.466DocumentissuedbytheMinistryofForeignTradeandEconomicCooperationofthePeople’sRepublicofChina.OnDecember11,2000,asapprovedbyChinaSecuritiesRegulatoryCommissionwithZJGSZi[2000]No.175Document,theCompanyadditionallyissued55milionAshares.AtapprovedbytheShareholders’GeneralMeeting2006,2007,2008,2014and2017theCompanyimplementedtheplanofcapitalizationofcapitalreserve,afterthetransfer,theregisteredcapitaloftheCompanyhasincreasedtoRMB1,399,346,154.00.OnFebruary8,2022,theCompanycancelled37,351,507sharesheldintherepurchasespecialsecuritiesaccount(including18,952,995A-sharesand18,398,512B-shares).Uponthecancellationoftheshares,thetotalsharecapitaloftheCompanywaschangedfrom1,399,346,154sharesto1,361,994,647shares.TheCompany’sregisteredcapitalwaschangedtoRMB1,361,994,647.00.InAugust2023,uponapprovalbytheCSRC(Z.J.X.K.DocumentNo.1974[2023]),theCompanyissued186,783,583RMB-denominatedordinaryshares(A-shares)to13specificsubjects.TheseshareswerelistedontheShenzhenStockExchangeonDecember4,2023.Aftertheissuanceofshares,thetotalsharecapitaloftheCompanychangedfrom1,361,994,647sharesto1,548,778,230shares,andtheregisteredcapitaloftheCompanychangedtoRMBOneBillion,FiveHundredandForty-eightMillion,SevenHundredandSeventy-eightThousand,TwoHundredandThirty(RMB1,548,778,230.00).OnJanuary10,2025,theCompanycanceled13millionA-sharesheldintherepurchasespecialsecuritiesaccount.Followingthiscancellation,theCompany’stotalsharecapitalchangedfrom1,548,778,230sharesto1,535,778,230shares,andtheCompany’sregisteredcapitalchangedtoRMB1,535,778,230.00).CredibilitycodeoftheCompany:91440000190352575W.Legalrepresentative:WanShanCorporatedomicile:No.64,FenjiangNorthRoad,ChanchengDistrict,Foshan,GuangdongProvinceOfficeaddress:No.8,ZhihuiRoad,ChanchengDistrict,Foshan,GuangdongProvinceMainbusinessofthecompanyanditssubsidiaries(hereinafterreferredtoas“theCompany”):generallightingproducts,vehiclelampproducts,epitaxyandchipproducts,LEDpackagingandcomponentproducts,tradeandotherproducts.ThebusinesstermoftheCompanyislong-term,whichwascalculatedfromthedateofissuanceofLicenseofBusinessCorporation.(II)AuthorizedissueranddateofapprovalofthefinancialreportTheFinancialReportwasapprovedandauthorizedforissuebytheBoardofDirectorsonAugust27,2025.(III)ConsolidationscopeoffinancialstatementsTheconsolidationscopeofthefinancialstatementduringtheReportingPeriodincludingtheCompanyandFSLChanchangOptoelectronicsCo.,Ltd.(referredtoas“ChanchangCompany”),FoshanTaimeiTimesLampCo.,Ltd.(referredtoas“TaimeiCompany”),NanjingFozhaoLightingComponentsCo.,Ltd.(referredtoas“NanjingFozhao”),FSL(Xinxiang)LightingCo.,Ltd.(referredtoas“XinxiangCompany”),FoshanFozhaoZhichengTechnologyCo.,Ltd.(referredtoas“ZhichengCompany”),FSLZhidaElectricTechnologyCo.,Ltd

(referredtoas“ZhidaCompany”),FoshanHortiliteOptoelectronicsCo.,Ltd.(referredtoas“HortiliteCompany”),Fozhao(Hainan)TechnologyCo.,Ltd.(referredtoas“HainanTechnology”),FoshanKelianNewEnergyTechnologyCo.,Ltd.(referredtoas“FoshanKelian”),NanningLiaowangAutoLampCo.,Ltd.(referredtoas“LiaowangAutoLamp),FoshanNationStarOptoelectronicsCo.,Ltd.(referredtoas“NationStarOptoelectronics”),FoshanSigmaVentureCapitalCo.,Ltd.(referredtoas“Sigma”),FozhaoHuaguang(Maoming)TechnologyCo.,Ltd.(referredtoas“FozhaoHuaguang”)andBeijingAirtrustAviationTechnologyCo.,Ltd.(referredtoas“BeijingAirtrust”)intotal14subsidiariesandLiuzhouGuigeLightingTechnologyCo.,Ltd.(referredtoas“LiuzhouLighting”),LiuzhouGuigeForeshineTechnologyCo.,Ltd.(referredtoas“LiuzhouForeshine”),ChongqingGuinuoLightingTechnologyCo.,Ltd.(referredtoas“ChongqingGuinuo”),QingdaoGuigeLightingTechnologyCo.,Ltd.(referredtoas“QingdaoLighting”),IndonesiaLiaowangAutoLampCo.,Ltd.(referredtoas“IndonesiaLiaowang”),LiaowangAutoLamp(Suzhou)Co.,Ltd.(“SuzhouLiaowang”),ZhejiangHuleElectricEquipmentManufactureCo.,Ltd.(“HuleElectricEquipment”),FoshanNationStarElectronicManufacturingCo.,Ltd.(referredtoas“GuoxingElectronic”),FoshanNationStarSemiconductorCo.,Ltd.(referredtoas“NationStarSemiconductor”),NanyangBaoliVanadiumIndustryCo.,Ltd.(referredtoas“BaoliVanadiumIndustry”),GuangdongNewElectronicInformationLtd.(referredtoas“NewElectronic”),NationStarOptoelectronics(Germany)Co.,Ltd.(referredtoas“GermanyNationStar”),GuangdongFenghuaSemiconductorTechnologyCo.,Ltd.(referredtoas“FenghuaSemiconductor”),GaozhouNationStarLightingTechnologyCo.,Ltd.(referredtoas“GaozhouNationStar”),Airstar(Tianjin)LightingCo.,Ltd.(referredtoas“Airstar”)andFSL(Thailand)LightingTechnologyCo.,Ltd.(referredtoas“ThailandCompany”)intotal16sub-subsidiary.Additionally,theCompanyhas1subsidiaryofasub-subsidiary,whichisShanghaiLelaiteElectricalEquipmentCo.,Ltd.(“ShanghaiLeilite”).GiventhatNanyangBaoliVanadiumIndustryCo.,Ltd.(BaoliVanadium)isinastateofnon-continuingoperations,theFinancialStatementsH12025ofBaoliVanadiumwereformulatedatfairvalueorcostswhicheverwaslower.TheCompanyhad31subsidiariesincludedintheconsolidationscopeduringthecurrentperiod.SeeNotes“IXChangesinthescopeofconsolidationand“XInterestsinotherentities”fordetails.IVBasisforPreparationofFinancialStatements

1.PreparationBasisTheCompany’sfinancialstatementsarepreparedonagoingconcernbasis,basedontransactionsandeventsthatactuallyoccur,inaccordancewiththeprovisionsoftheAccountingStandardsforBusinessEnterprises-BasicGuidelinesandspecificaccountingstandardsissuedbytheMinistryofFinance(hereinafterreferredtoas“ASBEs”),aswellastherelevantprovisionsofNo.15oftheRulesGoverningthePreparationofInformationDisclosuresbyCompaniesOfferingSecuritiestothePublic-GeneralProvisionsonFinancialReportingoftheChinaSecuritiesRegulatoryCommissionandonthebasisofthesignificantaccountingpoliciesandaccountingestimatesformulated.

2.GoingConcernTheCompanyhastheabilitytocontinueasagoingconcernforatleast12monthsfromtheendoftheReportingPeriodandtherearenomaterialmattersaffectingitsabilitytocontinueasagoingconcern.VImportantAccountingPoliciesandEstimationsRemindersofthespecificaccountingpoliciesandaccountingestimations:

ThefollowingsignificantaccountingpoliciesandaccountingestimatesoftheCompanyhavebeenformulatedinaccordancewithASBEs.OperationsnotmentionedaretreatedinaccordancewiththerelevantaccountingpoliciesintheASBE.

1.StatementofCompliancewiththeAccountingStandardsforBusinessEnterprisesThefinancialstatementspreparedbytheCompanyareincompliancewiththeAccountingStandardsforBusinessEnterprises,whichfactuallyandcompletelypresenttheCompany’sandtheconsolidatedfinancialpositions,businessresultsandcashflows,aswellasotherrelevantinformationoftheCompany.

2.FiscalYearAfiscalyearstartsonJanuary1andendsonDecember31accordingtotheGregoriancalendar.

3.OperatingCycleAnoperatingcyclefortheCompanyis12months,whichisalsotheclassificationcriterionfortheliquidityofitsassetsandliabilities.

4.RecordingCurrencyRenminbiistherecordingcurrencyforthestatementsoftheCompany.

5.MethodsforDeterminingMaterialityStandardsandSelectionCriteria?Applicable□Notapplicable

1.MaterialityoffinancialstatementitemsTheCompanydeterminesthematerialityoffinancialstatementitemsbasedontheprincipleofwhethersuchitemsaffecttheusersoffinancialstatementsmakingeconomicdecisionsintermsofboththenatureandamount.Thematerialityoffinancialstatementitemsintermsoftheamountisdeterminedbasedonacertainpercentageofrelevantitemsintotalassets,totalliabilities,netassets,operatingincome,andnetprofit.ThematerialityoffinancialstatementitemsintermsofnatureisbasedonfactorswithasignificantimpactontheCompany’sfinancialpositionandoperatingresults,suchaswhethertheyarepartofroutineoperatingactivities,whethertheyresultinchangesinprofitorloss,andwhethertheyaffectregulatoryindicators.

2.MaterialityofdetaileditemsinthenotestofinancialstatementitemsTheCompanydeterminesthematerialityofdetaileditemsinthenotestofinancialstatementitemsbasedonthematerialityofthefinancialstatementitems.Thisdeterminationismadebyconsideringacertainpercentageofthespecificitem,oracombinationoftheamountoftheitem,takingintoaccountthenatureofthespecificitem.Certainitemsthatarenotmaterialtothefinancialstatementsmaybematerialtothenotesandstillrequireseparatedisclosureinthenotes.Thematerialitycriteriarelatedtothenotestothefinancialstatementitemsare:

ItemMaterialitycriteria
SignificantaccountsreceivablewithbaddebtprovisionseparatelyaccruedTheindividualamountaccountsformorethan10%oftheaccountreceivableorbaddebtprovision,andtheamountexceedsRMB10million.
BaddebtprovisionofaccountsreceivablecollectedorreversedwithsignificantamountinthisyearIndividualamountaccountsformorethan10%ofthecurrentreversalofbaddebtprovision,andtheamountexceedsRMB10million.
SignificantverificationofaccountsreceivableinthisyearTheindividualamountaccountsformorethan10%oftheaccountreceivableorbaddebtprovision,andtheamountexceedsRMB10million.
SignificantconstructioninprogressTheendingbalanceofanindividualconstructioninprogressaccountsformorethan10%,andtheamountexceedsRMB50million.
Significantaccountspayable/otherpayablesoveroneyearTheindividualamountaccountsformorethan10%ofaccountspayableover1year/otherpayables,andtheamountexceedsRMB10million.
SignificantcashflowsgeneratedfrominvestmentactivitiesCashflowsofanindividualinvestmentaccountsformorethan3%ofthenetassetsattheperiod-end,andtheamountexceedsRMB100million.
Significantnon-wholly-ownedsubsidiaryMinorityshareholdersholdmorethan5%interestandanyoftheitemsoftotalassets,netassets,operatingrevenuesandnetprofitsofthesubsidiaryaccountsformorethan10%ofthecorrespondingitemsintheconsolidatedfinancialstatements.
SignificantjointventuresorassociatedenterprisesTheinvestmentincomegeneratedfromjointventuresorassociatedenterprises(Thelossiscalculatedinabsoluteterms)accountsformorethan10%ofthenetprofitofconsolidatedfinancialstatements.
SignificantdebtreorganizationTheinfluenceofindividualamountonnetprofitexceeds10%.
SignificantcommitmentsTheamountofanindividualcommitmentexceedsRMB10million.
SignificantcontingencyTheamountofmoneyinvolvedincasesexceedsRMB10million.

6.AccountingMethodsforBusinessCombinationInvolvingEnterprisesunderandnotundertheSameControl

1.BusinesscombinationunderthesamecontrolIncaseofalong-termequityinvestmentresultingfromabusinesscombinationunderthesamecontrol,iftheacquirerpayscash,transfersnon-cashassets,assumesdebtsasmergerconsideration,theshareoftheCompany’sequityoftheacquireeobtainedoncombinationdateinthecarryingvalueofthefinancialstatementsoftheultimatecontrollingpartyisdeemedasaninitialinvestmentcostoflong-termequityinvestments.Iftheacquirerissuesequityinstrumentsasconsiderationforacombination,thetotalparvalueofthesharesissuedistreatedasequity.Thedifferencebetweentheinitialinvestmentcostofalong-termequityinvestmentandthecarryingamountoftheconsiderationforconsolidation(orthetotalnominalvalueofsharesissued)shallbeadjustedtocapitalsurplus;ifcapitalsurplusisnotsufficienttooffsetthedifference,retainedearningsshallbeadjusted.

2.BusinesscombinationnotinvolvingentitiesunderthesamecontrolIncaseofbusinesscombinationinvolvingenterprisesnotunderthesamecontrol,thecombinationcostsshallbethetotalfairvaluesoftheassetspaid,liabilitiesincurredorassumedandtheequitysecuritiesissuedonthedateofacquisitionbytheacquirerinexchangeforcontrolontheacquiree.Identifiableassets,liabilitiesandcontingentliabilitiesoftheacquireeacquiredinabusinesscombinationnotunderthesamecontrolthatqualifyforrecognitionaremeasuredatfairvalueonthedateofacquisition.Theacquirerrecognizesasgoodwillthedifferencebetweenthecombinationcostsandthefairvalueshareoftheidentifiablenetassetsoftheacquireeobtainedinthecombination.Ifthecombinationcostsarelessthanthefairvalueshareoftheacquiree’sidentifiablenetassetsobtainedinthecombination,thedifferencebetweenthecombinationcostsstilllessthanthefairvalueshareoftheacquiree’sidentifiablenetassetsobtainedinthecombinationafterreviewshallbeincludedinthenon-operatingrevenueforthecurrentperiod.

7.CriteriaforJudgingControlandMethodsforPreparingConsolidatedFinancialStatements

1.JudgmentcriteriaforcontrolThescopeofconsolidationoftheconsolidatedfinancialstatementsisdeterminedonthebasisofcontrol.Aninvesteeisconsideredtobecontrolledifthefollowingthreeelementsarepresent:thepossessionofpowerovertheinvestee,theenjoymentofvariablereturnsasaresultofparticipatingintherelevantactivitiesoftheinvestee,andtheabilitytousethepowerovertheinvesteetoaffecttheamountofreturns.

2.Preparationmethodsforconsolidationfinancialstatements

(1)Unificationofaccountingpolicies,balancesheetdatesandaccountingperiodsofparentandsubsidiarycompaniesIftheaccountingpoliciesandaccountingperiodadoptedbythesubsidiariesareinconsistentwiththoseoftheCompany,necessaryadjustmentsaremadeinaccordancewiththeaccountingpoliciesandaccountingperiodoftheCompanywhenpreparingtheconsolidatedfinancialstatements.

(2)OffsettingitemsintheconsolidatedfinancialstatementsTheconsolidatedfinancialstatementsarebasedonthefinancialstatementsoftheCompanyanditssubsidiariesandhavebeenoffsetbyinternaltransactionsthatoccurredbetweentheCompanyanditssubsidiariesandbetweensubsidiaries.Theshareofowners’equityofsubsidiariesthatdonotbelongtotheCompanyispresentedasminorityinterestsintheconsolidatedbalancesheetundertheitemofshareholders’equityas“minorityinterests”.Long-termequityinvestmentsheldbysubsidiariesaredeemedastheCompany’streasurystockandpresentedasadeductionfromshareholders’equityintheconsolidatedbalancesheetundertheitem“Less:treasurystock”.

(3)AccountingtreatmentoftheacquisitionofsubsidiariesthroughconsolidationForsubsidiariesacquiredthroughabusinesscombinationundercommoncontrol,theassets,liabilities,operatingresults,andcashflowsareincludedintheconsolidatedfinancialstatementsfromthebeginningoftheperiodofconsolidationasifthebusinesscombinationhadoccurredatthetimetheultimatecontrollingpartybegantoexercisecontrol;forsubsidiariesacquiredthroughabusinesscombination,notunderthesamecontrol,thefairvalueoftheidentifiablenetassetsontheacquisitiondateisusedasthebasisforpreparingtheconsolidatedfinancialstatements.Thefinancialstatementsareadjustedbasedonthefairvalueoftheidentifiablenetassetsontheacquisitiondate.

(4)AccountingtreatmentofdisposalofsubsidiariesIfalong-termequityinvestmentinasubsidiaryispartiallydisposedofwithoutlossofcontrol,thedifferencebetweenthedisposalpriceandtheshareofthenetassetsofthesubsidiarycorrespondingtothedisposalofthelong-termequityinvestmentcalculatedonanongoingbasisfromtheacquisitiondateortheconsolidationdateisadjustedtocapitalsurplusintheconsolidatedfinancialstatements,andretainedearningsisadjustedifthecapitalsurplusisnotsufficienttocoverthereduction.Ifthecontrolovertheinvesteeislostduetothedisposalofpartofequityinvestments,theresidualequityarere-measuredatfairvalueonthedateoflossofcontrol.Theaggregateoftheconsiderationobtainedbydisposingoftheequityandthefairvalueoftheremainingequitylesstheportionofthenetassetsofthesubsidiarythathasbeenmeasured,ascalculatedattheoriginalshareholdingproportion,fromtheacquisitiondateorcombinationdateisrecognizedinprofitandlossofthecurrentperiodoninvestmentsinwhichthecontrolislost,andgoodwillshallbeoffset.OthercomprehensiveincomerelatedtotheequityinvestmentsintheformersubsidiaryshallbeincludedinthereturnoninvestmentforthecurrentperiodwhentheCompanylostthecontrol.

8.ClassificationofJointOperationArrangementsandAccountingMethodsforJointOperations

1.ClassificationofjointarrangementsJointarrangementsaredividedintojointoperationsandjointventures.Thejointarrangementsnotreachedthroughseparateentitiesareclassifiedasjointoperations.Separateentitiesrefertoentitieswithseparateidentifiablefinancialstructures,includingseparatelegalentitiesandentitiesthatdonothavelegalentitystatusbutarerecognizedbylaw.Thejointarrangementsreachingthroughseparateentitiesareusuallyclassifiedasjoint

ventures.Wherechangesinrelevantfactsandcircumstancesresultinchangesintherightsandobligationsofthejointventurepartiesinthejointventurearrangement,thejointventurepartiesshallreassesstheclassificationofthejointventurearrangement.

2.AccountingtreatmentofjointoperationsAsaparticipantinajointoperation,theCompanyrecognizesthefollowingitemsrelatedtoitsshareofinterestinthejointoperations.ItaccountsforthemfollowingtherelevantAccountingStandardsforBusinessEnterprises:

Recognitionofassetsorliabilitiesheldseparately,andrecognitionofassetsorliabilitiesheldjointlyonasharebasis;recognitionofrevenuefromthesaleoftheshareofoutputfromthejointoperationtowhichitisentitled;recognitionofrevenuefromthejointoperationarisingfromthesaleofoutputonasharebasis;andrecognitionofexpensesincurredseparately,andrecognitionofexpensesincurredinthejointoperationonasharebasis.IftheCompanyisaparticipantinajointoperationthatdoesnotenjoyjointcontrol,anditownstheunderlyingassetsofthejointoperationandassumestheliabilitiesrelatedtothejointoperation,theaccountingtreatmentofthejointoperationpartnershallbereferredto;otherwise,theaccountingtreatmentshallbecarriedoutinaccordancewiththerelevantenterpriseaccountingstandards.

3.AccountingtreatmentofjointventuresIftheCompanyisajointventurepartner,itshallaccountforitsinvestmentinjointventuresfollowingtheprovisionsofAccountingStandardsforBusinessEnterprisesNo.2-Long-termEquityInvestments;iftheCompanyisanon-jointventurepartner,itshallaccountforitsinvestmentinsuchjointventuresbasedontheextentofitsinfluenceonsuchjointventures.

9.RecognitionCriteriaofCashandCashEquivalentsCash,asdeterminedbytheCompanyinpreparingthestatementofcashflows,representstheCompany’scashonhandanddepositsthatarereadilyavailablefordisbursement.Cashequivalentsidentifiedinthepreparationofthestatementofcashflowsareinvestmentsthatareheldforashortperiodoftime,arehighlyliquid,arereadilyconvertibletoknownamountsofcashandaresubjecttoaninsignificantriskofchangeinvalue.

10.TranslationofTransactionsandFinancialStatementsDenominatedinForeignCurrencies

1.ConversionofforeigncurrencybusinessTheCompanyrecordsforeigncurrencytransactionsusingthespotexchangerateonthetransactiondateorthenearestexchangeratetothetransactiondatetoconvertintothefunctionalcurrency.Onthebalancesheetdate,themonetaryitemsinforeigncurrenciesaretranslatedatthespotexchangerate.Exchangedifferencesarisingfromthedifferencebetweenthespotrateonthatdateandthespotrateatinitialrecognitionoronthepreviousbalancesheetdatearerecognizedinprofitorloss,exceptforexchangedifferencesonspecialborrowingsinforeigncurrenciesthatqualifyforcapitalization,whicharecapitalizedintheperiodinwhichtheyarecapitalizedandchargedtothecostoftherelatedassets.Non-monetaryitemsmeasuredathistoricalcostsinforeigncurrenciesarestilltranslatedatthespotexchangerateonthetransactiondatewiththeamountofstandardcurrencyforaccountingunchanged.Non-monetaryitemsmeasuredatfairvalueinforeigncurrenciesaretranslatedatthespotexchangerateonthedatewhenthefairvalueisdetermined.Thedifferencebetweentheamountofstandardcurrencyforaccountingaftertranslationandtheoriginalamountshallbetreatedasachangeinfairvalue(includingexchangeratechanges)andrecognizedincurrentprofitorlossorinothercomprehensiveincome.

2.ConversionofforeigncurrencyfinancialstatementsIftheCompany’ssubsidiaries,jointventures,andaffiliatedbusinessuseadifferentbookkeepingbasecurrencyfromtheCompany’s,theyneedtoconverttheirforeigncurrencyfinancialstatementsbeforeconductingaccountingandpreparingconsolidatedfinancialstatements.Theassetsandliabilitiesinthebalancesheetshallbetranslatedatthespotrateonthebalancesheetdate.Allitemsofowners’equity,exceptfor“undistributedprofit”,shallbetranslatedatthespotexchangerateatthetimeofoccurrence.Itemsunderrevenueandexpensesintheincomestatementaretranslatedatthespotexchangerateonthetransactiondate.Theexchangedifferenceintranslatingforeignoperationsarisingfromthetranslationareshownunderothercomprehensiveincomeintheowner’sequitylineinthebalancesheet.Cashflowsinforeigncurrenciesshallbetranslatedatthespotexchange

rateonthedateofoccurrenceofthecashflows.Theimpactofexchangeratechangesoncashispresentedseparatelyinthecashflowstatement.Whenanoverseasoperationisdisposedof,theforeigncurrencystatementtranslationdifferencerelatedtotheoverseasoperationistransferredtothecurrentprofitandlossofthedisposalinfullorinproportiontothedisposaloftheoverseasoperation.

11.FinancialInstruments

1.Classification,recognitionandmeasurementoffinancialinstruments

(1)FinancialassetsBasedonthebusinessmodelformanagingfinancialassetsandthecontractualcashflowcharacteristicsoffinancialassets,theCompanyclassifiesitsfinancialassetsintothefollowingthreecategories:

a)Financialassetsaremeasuredattheamortizedcost.ThebusinessmodeloftheCompanyformanagingsuchfinancialassetsaimsatobtainingcontractualcashflow,andthecharacteristicsofcontractualcashflowofsuchfinancialassetsarebasicallythesameasbasicborrowingarrangement,namelythecashflowarisingonaspecificdate,whicharesolelypaymentsofprincipalandinterestontheprincipalamountoutstanding.Interestincomeissubsequentlyrecognizedonsuchfinancialassetsonthebasisoftheeffectiveinterestmethod.b)FinancialassetsatfairvalueandchangesincludedinothercomprehensiveincomeThebusinessmodeloftheCompanyformanagingsuchfinancialassetsaimsatreceivingcontractualcashflowaswellasselling,andthecharacteristicsofcontractualcashflowofsuchfinancialassetsarebasicallythesameasbasicborrowingarrangement.Suchfinancialassetsaresubsequentlymeasuredatfairvaluewithchangesrecognizedinothercomprehensiveincome,exceptforinterestincome,impairmentlossesorgainscalculatedinaccordancewiththeeffectiveinterestmethodandforeignexchangegainsorlossesrecognizedinthecurrentprofitorloss.c)FinancialassetsmeasuredatfairvaluethroughprofitorlossforthecurrentperiodFinancialassetsheldthatarenotclassifiedasatamortizedcostandatfairvaluethroughothercomprehensiveincomearemeasuredatfairvalue,withgainsorlosses(includinginterestanddividendincome)recognizedinprofitorlossforthecurrentperiod.Oninitialrecognition,afinancialassetmaybeirrevocablydesignatedasfinancialassetatfairvaluethroughprofitorlossiftheaccountingmismatchcanbeeliminatedorreduced.Thedesignationshallnotberevokedoncemade.Forinstrumentsinnon-businessequityinstruments,theCompanymayirrevocablyassignsuchinvestmentsasfinancialassets(equityinstruments)measuredatfairvaluethroughothercomprehensiveincomeatinitialrecognition.Theassignmentismadebasedoninvestmentsbyitem,andtherelevantinvestmentsmeetthedefinitionofanequityinstrumentfromtheissuer’sperspective.Suchfinancialassetsaresubsequentlymeasuredatfairvalue,andexceptfordividendsreceived(exceptfortheportionwhichformspartofinvestmentcostrecovered),whicharerecognizedinprofitorloss,allotherrelatedgainsandlossesarerecognizedinothercomprehensiveincomeandarenotsubsequentlytransferredtocurrentprofitorloss.

(2)FinancialliabilitiesOninitialrecognition,financialliabilitiesareclassifiedintothefollowingcategories:

a)Financialliabilitiesmeasuredatfairvaluethroughprofitandlossforthecurrentperiod.Suchfinancialliabilitiesaresubsequentlymeasuredatfairvalue,andtheresultinggainsorlossesarerecognizedinprofitorlossforthecurrentperiod.b)Financialliabilitiesthatarisewhenatransferofafinancialassetdoesnotqualifyforderecognitionorwhenthecontinuinginvolvementapproachapplies.c)Financialliabilitiesmeasuredatamortizedcost.Suchfinancialliabilitiesaremeasuredatamortizedcostusingtheeffectiveinterestmethod.

2.MethodforrecognizingthefairvalueoffinancialinstrumentsForafinancialinstrumentwithanactivemarket,itsfairvalueisdeterminedbyitsquotedpriceintheactivemarket;forafinancialinstrumentwithoutanactivemarket,itsfairvalueisdeterminedbyvaluationtechniques.Underlimitedcircumstances,iftheinformationusedtodeterminefairvalueisinsufficient,oriftherangeof

possibleestimatesoffairvalueiswideandthecostrepresentsthebestestimateoffairvaluewithinthatrange,thecostmayrepresentitsappropriateestimateoffairvaluewithinthatrangeofdistribution.TheCompanyusesallinformationavailableaftertheinitialrecognitiondateabouttheinvestee’sperformanceandoperationstodeterminewhetherthecostrepresentsfairvalue.

3.DerecognitionoffinancialinstrumentsAfinancialassetisderecognizedwhenoneofthefollowingconditionsismet:(1)thecontractualrighttoreceivecashflowsfromthefinancialassetisterminated;(2)thefinancialassetistransferredandtheconditionsforderecognitionaremet.Ifthepresentobligationofafinancialliabilityisdischargedinwholeorinpart,thedischargedportionisderecognized.Ifanexistingliabilityisreplacedbyanotherfinancialliabilityfromthesamecreditoronsubstantiallydifferentterms,orthetermsofanexistingliabilityaresubstantiallymodified,theexistingfinancialliabilityisderecognizedandanewfinancialliabilityisrecognizedsimultaneously.Allregularacquisitionsorsalesoffinancialassetsarerecognizedandderecognizedonatransactiondatebasis.

12.NotesReceivableThedeterminationmethodsandaccountingmethodsofnotesreceivablearedetailedinNoteV-13.AccountsReceivable.

13.AccountsReceivable

1.MeasurementofexpectedcreditlossTheCompanyusesexpectedcreditlossesasthebasisforimpairmentaccountingandrecognizesanallowanceforbaddebtsforfinancialassetsmeasuredatamortizedcost(includingaccountsreceivable,includingnotesreceivableandaccountsreceivable),financingreceivables,leasereceivables,andotherreceivables.

2.RecognitionmethodforexpectedcreditlossesThegeneralapproachtoexpectedcreditlossesisthat:theCompanyassesseswhetherthecreditriskoftherelevantfinancialinstrumentshasincreasedsignificantlysincetheinitialrecognitiononeachbalancesheetdate,dividestheprocessofcreditimpairmentoffinancialinstrumentsintothreestages,andappliesdifferentaccountingtreatmentstotheimpairmentoffinancialinstrumentsatdifferentstages:(1)inthefirststage,ifthecreditriskofafinancialinstrumenthasnotincreasedsignificantlysincetheinitialrecognition,theCompanywillmeasurethelossreservesaccordingtotheamountequivalenttotheexpectedcreditlossesinthenext12months,andcalculatetheinterestrevenueaccordingtothebookbalance(i.e.,beforedeductingtheprovisionforimpairment)andtheactualinterestrate;(2)Inthesecondstage,ifthecreditriskofafinancialinstrumenthasincreasedsignificantlysincetheinitialrecognitionbutnocreditimpairmenthasoccurred,theCompanywillmeasurethelossreservesbasedontheexpectedcreditlossovertheentirelifeofthefinancialinstrumentandcalculatesinterestrevenuebasedonthecarryingamountofthefinancialinstrumentandtheeffectiveinterestrate;

(3)Inthethirdstage,ifcreditimpairmentoccursaftertheinitialrecognition,theCompanywillmeasurethelossreservesbasedontheexpectedcreditlossoverthelifeofthefinancialinstrumentandcalculatesinterestrevenuebasedontheamortizedcost(carryingamountlessprovisionforimpairment)andtheeffectiveinterestrate.Thesimplifiedapproachforexpectedcreditlossesistoalwaysmeasuretheallowanceforlossesatanamountequaltotheexpectedcreditlossesthroughouttheirlives.

3.AccountingmethodsoftheexpectedcreditlossesToreflectthechangesincreditriskoffinancialinstrumentssinceinitialrecognition,theCompanyremeasuresexpectedcreditlossesateachbalancesheetdate.Theresultingincreaseorreversalamountofthelossprovisionshouldberecognizedasanimpairmentlossorgaininprofitorlossandoffsetagainstthecarryingamountofthefinancialassetasstatedinthebalancesheetorincludedinprojectedliabilities,dependingonthetypeoffinancialinstrument(loancommitmentsorfinancialguaranteecontracts).

4.Methodoftheprovisionforlossesonthemeasurementofreceivables,leasereceivables

(1)Receivableswithnosignificantfinancingcomponent.ForreceivablesarisingfromtransactionsgovernedbyAccountingStandardforBusinessEnterprisesNo.14-Revenuethatdonothaveasignificantfinancingcomponent,theCompanyusesasimplifiedapproachwherebytheallowanceforlossesisalwaysmeasuredonthebasisofexpectedcreditlossesthroughouttheirlives.a)Accountsreceivableofexpectedcreditlosseswithdrawnindividually

RationaleforasingleprovisionforexpectedcreditlossesObjectiveevidenceofimpairment
IndividualaccrualsforexpectedcreditlossesTheimpairmenttestsareconductedseparatelyforaccountsreceivableindividuallyaccrued.Animpairmentlossisrecognizedbasedonthedifferencebetweenthepresentvalueoffuturecashflowsandtheircarryingamount,andanexpectedcreditlossisrecorded

2)AccountsReceivablewithExpectedCreditLossesProvisionBasedonCreditRiskPortfolio

PortfolionameBasisforportfoliorecognitionDeterminationmethodofexpectedcreditlosses
Businessportfolioofgenerallightingandautolamps

Generallighting,autolampsandotherrelevantbusinesswiththeCompanyastheparentandthesubsidiaryLiaowangAutoLampastherepresentative,thisportfoliotakestheagingofaccountsreceivableasthecreditriskcharacteristics

Preparethecomparativelistbetweenagingofaccountsreceivableandexpectedcreditlossrateovertheentirelifeandcalculatetheexpectedcreditlossbyconsultinghistoricalexperienceincreditlosses,combiningcurrentsituationandpredictionforfutureeconomicsituation.
BusinessportfolioofLEDpackagingandcomponentsLEDpackaging,componentsandotherrelevantbusinesswiththesubsidiaryNationStarOptoelectronicsastherepresentative,thisportfoliotakestheagingofaccountsreceivableasthecreditriskcharacteristicsPreparethecomparativelistbetweenagingofaccountsreceivableandexpectedcreditlossrateovertheentirelifeandcalculatetheexpectedcreditlossbyconsultinghistoricalexperienceincreditlosses,combiningcurrentsituationandpredictionforfutureeconomicsituation.
InternalbusinessportfolioRelatedpartiesandinternaltransactionsOthermethods

NotesReceivableforwhichtheExpectedCreditLossiswithdrawnbyCreditRiskCharacteristics

PortfolionameBasisforportfoliorecognitionDeterminationmethodofexpectedcreditlosses
Portfolio1BankacceptancebillLowcreditriskwithnoprovisionforbaddebts
Portfolio2TradeacceptancePreparethecomparativelistbetweenagingofaccountsreceivableandexpectedcreditlossrateovertheentirelifeandcalculatetheexpectedcreditlossbyconsultinghistoricalexperienceincreditlosses,combiningcurrentsituationandpredictionforfutureeconomicsituation.

Theaginganalysesarebasedontheirdateofentryintotheaccounts.Amongportfolios,expectedcreditlossesaccruedbyaginganalysis:

AgingExpectedcreditlossrate
BusinessportfolioofgenerallightingandautolampsBusinessportfolioofLEDpackagingandcomponents
Within1year(including1year)3%2%
1to2years10%10%
2to3years30%30%
3to4years50%50%
4to5years80%80%
Over5years100%100%

Forreceivableswithsignificantfinancingcomponentsandleasereceivables,theCompanymeasurestheprovisionforlossesinaccordancewiththegeneralmethod,i.e.,the“three-stage”model.Thecreditriskcharacteristicsgrouping,theagingcalculationmethodbasedonthecreditriskcharacteristicsgrouping,andthecriteriafordeterminingindividualprovisioningareconsistentwiththerecognitionstandardsforthosewithoutfinancingcomponents.

5.MethodofmeasuringlossprovisionforotherfinancialassetsForfinancialassetsotherthanthosementionedabove,suchasdebtinvestments,otherdebtinvestments,otherreceivablesandlong-termreceivablesotherthanleasereceivables,theCompanymeasurestheallowanceforlossesinaccordancewiththegeneralmethod,i.e.the“three-stage”model.

(1)CategoriesofbaddebtprovisionaccordingtocreditriskcharacteristicsandbasisofdeterminationTheCompanydividesotherreceivablesintocertaincreditriskcombinationsbasedonthenatureoftheamounts.Itcalculatesexpectedcreditlossesbasedonthecombinations,andthebasisfordeterminingthecombinationsisasbelow:

PortfolionameDeterminationbasis
Porfolio1:Deposit,securitydepositBasedonnatureofaccounts
Porfolio2:AmountsfromrelatedpartiesBasedonnatureofaccounts
Porfolio3:AdvancesonbehalfofothersBasedonnatureofaccounts

(2)AgingcalculationmethodforrecognizingcreditriskcombinationsbasedonagingRefertothedescriptionofreceivableswithnosignificantfinancingcomponents.

(3)CriteriafordeterminingthebaddebtprovisionbasedonindividualitemsRefertothedescriptionofreceivableswithnosignificantfinancingcomponents.

14.AccountsReceivableFinancingThedeterminationmethodsandaccountingmethodsofreceivablesfinancingaredetailedinNoteV-13.AccountsReceivable.

15.OtherReceivablesThedeterminationmethodsandaccountingmethodsofexpectedcreditlossesofotherreceivablesisthesameasthatofaccountsreceivable,asdetailedinNoteV-13.AccountsReceivable.

16.ContractAssetsTheCompanypresentstherighttoreceiveconsiderationforgoodsorservicesthathavebeentransferredtothecustomer(andwhichisdependentonfactorsotherthantime-lapse)asacontractasset.Theprovisionforimpairmentofcontractassetsismadewithreferencetothemethodofdeterminingexpectedcreditlossesinthisnote.Contractassetsarecategorizedintothefollowingportfoliosaccordingtocreditriskcharacteristics:

PortfolioDeterminationbasis
Portfolio1:GenerallightingandlampsbusinessportfolioGenerallighting,automotivelampsandrelatedbusinessesrepresentedbytheparentcompanyanditssubsidiaryLiaowangAutoLamp.Thisportfoliousestheagingofaccountsreceivableasthecreditriskcharacteristic.
Portfolio2:LEDpackagingandcomponentsbusinessportfolioLEDpackaging,componentsandotherrelatedbusinessesrepresentedbysubsidiaryNationStarOptoelectronics.Thisportfoliousestheagingofaccountsreceivableasthecreditriskcharacteristic
Portfolio3:InternalbusinessportfolioThisportfolioinvolvesrelated-partytransactionsandinternaltransactions

17.Inventory

1.ClassificationofinventoriesInventoriesrefertotheCompany’sfinishedgoodsorcommoditiesforsaleheldindailyactivities,unfinishedgoodsinmanufacturingprocess,andmaterialsandsuppliesconsumedinprocessofmanufacturingproductsorprovidingservices,etc.Inventoriesmainlyincluderawmaterials,circulatingmaterials(suchaspackagingmaterials,low-valueconsumables,etc.),materialsforentrustedprocessing,work-in-progress,self-manufacturedsemi-finishedproducts,andfinishedgoods(inventorygoods).

2.PricingmethodofissuinginventoriesWheninventoryisissued,theCompanyusestheweightedaveragemethodtodeterminetheactualcostoftheinventoryissued.

3.InventorysystemofinventoriesTheperpetualinventorysystemisadoptedfortheinventoriesoftheCompany.

4.Amortizationoflow-valueconsumablesandpackingmaterialsTheone-offcharge-offmethodisusedforlow-valueconsumablesandpackagingmaterials.

5.CriteriaforRecognizingandAccrualmethodofprovisionfordeclineinvalueofinventoriesNetrealizablevaluereferstotheamountafterdeductingthecostestimateduntilcompletion,estimatedsellingexpenses,andrelevanttaxesfromtheestimatedsellingpriceoftheinventory.TheCompanydeterminesthenetrealizablevalueofinventoriesbasedonsolidevidenceobtainedandaftertakingintoconsiderationthepurposeforwhichtheinventoryisheld,andtheimpactofpost-balancesheetevents.Thenetrealizablevalueoffinishedgoods,materialsforsale,andothermerchandiseinventoriesuseddirectlyforsaleisdeterminedinthenormalcourseofproductionandoperationastheestimatedsellingpriceofsuchinventories,lessestimatedsellingexpenses,andrelatedtaxes.Thenetrealizablevalueofmaterialinventoriessubjecttoprocessingisdeterminedinthenormalcourseofproductionoperationsastheestimatedsellingpriceofthefinishedgoodsproduced,lesstheestimatedcoststobeincurredtocompletion,estimatedsellingexpenses,andrelatedtaxes.TheCompanydeterminesthenetrealizablevalueofinventoriesbasedonsolidevidenceobtainedandaftertakingintoconsiderationthepurposeforwhichtheinventoryisheld,andtheimpactofpost-balancesheetevents.

18.AssetsHeldforSale

1.Recognitioncriteriaandaccountingtreatmentfornon-currentassetsclassifiedasheldforsaleordisposalgroupsAnon-currentassetordisposalgroupwhosecarryingvaluewillberecoveredprincipallythroughsaleratherthanthroughcontinuinguseisclassifiedasheldforsaleandmeetsthefollowingconditions:first,itisimmediatelyavailableforsaleundercurrentconditionsbasedonthecustomarypracticeforsalesofsuchassetsordisposalgroupsinsimilartransactions;andsecond,itishighlyprobablethatthesalewilloccur,i.e.,theenterprisehasalreadyresolvedonaplanforthesaleandhasobtainedafirmcommitmenttopurchase,anditisexpectedthatthesaleisexpectedtobecompletedwithinoneyear.Therelevantregulationsrequiretheapprovaloftherelevantorregulatoryauthorityoftheenterprisebeforethesaleshallhavebeenapproved.WhentheCompanyinitiallymeasuresorremeasuresnon-currentassetsordisposalgroupsheldforsaleonthebalancesheetdate,ifthecarryingvalueishigherthanthefairvalueminusthenetamountofthesalecosts,thecarryingvaluewillbewrittendowntothenetamountoffairvalueminusthesalecosts.Theamountwrittendownwillberecognizedasassetimpairmentlossandincludedincurrentprofitandloss,andprovisionforimpairmentofassetsheldforsalewillbemade.Theamountofassetimpairmentlossrecognizedfordisposalgroupsheldforsaleshallbeoffsetagainstthecarryingvalueofgoodwillinthedisposalgroupfirst,andthenagainstthecarryingvalueofeachnon-currentassetproportionatelyaccordingtotheproportionofthecarryingvalueofeachnon-currentassetinthedisposalgroupasdefinedintheapplicablemeasurementoftheAccountingStandardsforBusinessEnterprises-Non-currentAssetsHeldforSale,DisposalGroupsandDiscontinuedOperations.

2.RecognitioncriteriaandpresentationofdiscontinuedoperationsDiscontinuedoperationsisaseparatelydistinguishablecomponentthatmeetsoneofthefollowingconditionsandthathasbeendisposedofbytheCompanyorclassifiedbytheCompanyasheldforsale:thecomponentrepresentsaseparateprincipalbusinessoraseparateprincipaloperatingarea;thecomponentispartofarelatedprogramofproposeddispositionsofaseparateprincipalbusinessoraseparateprincipaloperatingarea;Thecomponentisasubsidiaryacquiredspecificallyforresale.TheCompanypresentsgainsandlossesfromcontinuingoperationsandgainsandlossesfromdiscontinuedoperationsseparatelyinthestatementofincome.Operatinggainsandlosses,suchasimpairmentlossesandreversalamountsfordiscontinuedoperations,andgainsandlossesondisposalsarepresentedasgainsandlossesfromdiscontinuedoperations.Therevenues,expenses,grossprofit,incometaxexpense(benefit)andnetprofitfromdiscontinuedoperations,impairmentlossesrecognizedonassetsordisposalgroupsofdiscontinuedoperationsandtheamountoftheirreversal,totalgainorlossondisposalofdiscontinuedoperations,incometaxexpense(benefit)andnetgainorlossondisposal,netcashflowsfromoperatingactivities,investingactivitiesandfinancingactivitiesofdiscontinuedoperations,andgainsandlossesfromcontinuingoperationsandgainsandlossesfromdiscontinuedoperationsattributabletoownersoftheparentcompanyaredisclosedinthenotes.

19.InvestmentinDebtObligationsNotapplicable

20.OtherInvestmentinDebtObligationsThedeterminationmethodsandaccountingmethodsofotherinvestmentindebtobligationsaredetailedinNoteV-11.FinancialInstruments.

21.Long-termReceivablesNotapplicable

22.Long-termEquityInvestments

1.JudgmentcriteriaforjointcontrolandsignificantinfluenceJointcontrolmeansthatactivitiesthathaveasignificantimpactonthereturnofanarrangementmustbedecideduponwiththeunanimousconsentoftheparticipantssharingcontrol,includingsalesandpurchasesofgoodsorservices,managementoffinancialassets,purchasesanddisposalsofassets,researchanddevelopmentactivities,andfinancingactivities.Significantinfluencereferstotheconditionwhereaninvestorholdsbetween20%to50%ofthevotingcapitalinaninvestee,generallyindicatingasignificantinfluence.Or,althoughlessthan20%,havingasignificantinfluencewhenoneofthefollowingconditionsismet:Representationontheboardofdirectorsorsimilarauthorityoftheinvestee;participationinthepolicy-makingprocessoftheinvestee;assignmentofmanagementpersonneltotheinvestee;relianceoftheinvesteeonthetechnologyortechnicalinformationoftheinvestee;andmajortransactionswiththeinvestee.

2.DeterminationofinitialinvestmentcostForlong-termequityinvestmentsacquiredthroughabusinesscombination,inthecaseofabusinesscombinationunderthesamecontrol,theinitialinvestmentcostofthelong-termequityinvestmentshallbetheshareoftheowners’equityofthepartybeingcombinedintheconsolidatedfinancialstatementsoftheultimatecontrollingpartyonthecombinationdate;inthecaseofabusinesscombinationnotunderthesamecontrol,theinitialinvestmentcostofthelong-termequityinvestmentshallbethecostofcombinationdeterminedontheacquisitiondate;forlong-termequityinvestmentsacquiredbypayingcash,theinitialinvestmentcostistheactualpurchasepricepaid;forlong-termequityinvestmentsacquiredbyissuingequitysecurities,theinitialinvestmentcostisthefairvalueoftheequitysecuritiesissued;forlong-termequityinvestmentsacquiredthroughdebtrestructuring,theinitialinvestmentcostisdetermined

3.MethodofsubsequentmeasurementandrecognitionofprofitorlossLong-termequityinvestmentsinwhichtheCompanycanexercisecontrolovertheinvesteesareaccountedforbythecostmethod,andlong-termequityinvestmentsinassociatesandjointventuresareaccountedforbytheequitymethod.IfaportionoftheCompany’sequityinvestmentsinaffiliatesisheldindirectlythroughventurecapitalinstitutions,mutualfunds,trustcompanies,orsimilarentities,includinginvestment-linkedfunds,regardlessofwhethertheaboveentitieshavesignificantinfluenceoverthisportionoftheinvestment,theCompanytreatsitinaccordancewiththerelevantprovisionsofAccountingStandardsforBusinessEnterprisesNo.22-RecognitionandMeasurementofFinancialInstrumentsandaccountsfortheremainingportionwiththeequitymethod.

23.InvestmentPropertiesMeasurementmodelofinvestmentpropertyMeasurementofcostmethodDepreciationoramortizationmethod

TheCompany’sinvestmentpropertyincludesleasedlanduserights,leasedbuildings,andlanduserightsheldandreadytobetransferredafterappreciation.Investmentpropertyisinitiallymeasuredaccordingtocost,andthenmeasuredbycostmodel.TheCompanyusesthecompositelifedepreciationmethodforbuildingsleasedoutofinvestmentproperties,andthespecificaccountingpoliciesarethesameasthoseforfixedassets.Landuserightsleasedoutofinvestmentpropertiesandlanduserightsheldandintendedtobetransferredafterappreciationareamortizedthroughthestraight-linemethodwiththesameaccountingpoliciesasthosefortheintangibleassetssegment.

24.FixedAssets

(1)RecognitionconditionsThefixedassetsrefertotangibleassetsheldforproductionofgoods,provisionoflaborservices,leaseorbusinesswithaservicelifeofoverafiscalyear.Recognitionismadewhenthefollowingconditionsaremet:Theeconomicbenefitsassociatedwiththefixed-assetwillprobablyflowtotheenterprise;thecostofthefixed-assetcanbemeasuredreliably.

(2)Depreciationmethod

CategoryDepreciationmethodDepreciablelifeResidualvaluerateAnnualdepreciationrate
HousesandbuildingsStraight-linedepreciationmethod3-38years1%-10%31.67%-3.17%
MachineryequipmentStraight-linedepreciationmethod2-11years1%-10%47.50%-8.18%
TransportationequipmentStraight-linedepreciationmethod5-10years1%-10%19.00%-9.50%
ElectronicequipmentStraight-linedepreciationmethod2-8years1%-10%47.50%-11.88%
OtherequipmentStraight-linedepreciationmethod5years5%-10%19.00%-18.00%

TheCompany’sfixedassetsaremainlyclassifiedinto:buildingsandstructures,machineryandequipment,electronicequipment,transportationequipment,etc.Thedepreciationmethodistheaverageannuallimitmethod.Theservicelivesandestimatedresidualvaluesoffixedassetsaredeterminedaccordingtothenatureandutilizationofeachcategoryoffixedassets.Attheendoftheyear,theservicelives,estimatedresidualvaluesanddepreciationmethodsoffixedassetsarereviewed,andadjustmentsaremadeaccordinglyiftherearedifferencesfromtheoriginalestimates.Allfixedassetsaredepreciated,exceptforfullydepreciatedfixedassetsthatcontinuetobeusedandlandthatisseparatelyaccountedfor.

25.ConstructioninProgressTheCompany’sconstructioninprogressisdividedintotwotypes:Constructiononaself-operationbasisandacontractedbasis.Thecriteriaandtimepointforcarryingforwardconstructioninprogresstofixedassetsarebasedontheconstructioninprogressreachingitsintendedstateofuse.Thestandardfordeterminingtheintendedusableconditionshallbeoneofthefollowing:Thephysicalconstruction(includinginstallation)ofthefixedassetshasbeenfullycompletedorsubstantiallycompleted;productionortrialoperationhasbeenconducted,andtheresultsshowthattheassetscanoperatenormallyorcansteadilyproducequalifiedproducts,ortheresultsofthetrialoperationshowthattheycanfunctionnormallyoroperate;theamountofexpenditureonthefixedassetsconstructedislittleoralmostnolongerincurred;thefixedassetsacquiredhavemetthedesignorcontractrequirements,oraresubstantiallyconsistentwiththedesignorcontractrequirements.

26.BorrowingCosts

1.RecognitionprinciplesforthecapitalizationofborrowingcostsIftheborrowingcostsincurredbytheCompanycanbedirectlyattributabletotheacquisition,constructionorproductionofassetsthatmeetthecapitalizationconditions,theyshallbecapitalizedandincludedinthecostsoftheunderlyingassets;otherborrowingcostsrecognizedascostsaccordingtotheamountincurredshallbeincludedintheprofitandlossforthecurrentperiod.Assetseligibleforcapitalizationrefertoassets,suchasfixedassets,investmentproperties,andinventoriesthatrequirealongperiodfortheiracquisitionorproductionactivitiestoreachtheexpectedusableorsaleablestatus.

2.CalculationofcapitalizationamountThecapitalizationperiodreferstotheperiodfromwhenthecapitalizationofborrowingcostsstartstowhenthecapitalizationstops.Theperiodduringwhichcapitalizationofborrowingcostsissuspendedisnotincluded.Capitalizationofborrowingcostsshallbesuspendedifthereisanabnormalinterruptioninthecourseofacquisitionorproductionandtheinterruptionlastsformorethanthreeconsecutivemonths.Borrowingofspecialborrowingsisdeterminedbytheinterestexpenseincurredintheperiodofthespecialborrowings,lesstheinterestrevenueexpenditureearnedbydepositingtheunusedborrowedfundsinbanksortheinvestmentincomeearnedbymakingtemporaryinvestments;theappropriationofgeneralborrowingsisdeterminedbymultiplyingtheweightedaverageamountofassetexpensesovertheportionofspecialborrowingsbythecapitalizationrateofthegeneralborrowingsappropriated,whichistheweightedaverageinterestrateofgeneralborrowings;ifthereisadiscountorpremiumonborrowings,theamountofdiscountorpremiumtobeamortizedineachaccountingperiodisdeterminedbytheeffectiveinterestratemethod.Theamountofinterestisadjustedforeachperiod.Theeffectiveinterestratemethodisamethodofcalculatingtheamortizeddiscountorpremiumorinterestexpenseonaborrowingbasedonitseffectiveinterestrate.Theeffectiveinterestratemethodcalculatestheamortizeddiscountorpremiumorinterestexpenseonaborrowingbasedonitseffectiveinterestrate.

27.LivingAssetsNotapplicable

28.OilandGasAssetsNotapplicable

29.IntangibleAssets

1.Pricingmethodofintangibleassets

TheCompanyinitiallymeasurestheintangibleassetsatcost.Fortheacquiredintangibleassets,theactualpricespaidandrelatedexpensesshallberegardedastheactualcosts.Theactualcostofintangibleassetsinvestedbyinvestorsshallberecognizedaccordingtothevalueagreeduponintheinvestmentcontractoragreement.Incaseofunfaircontractoragreement,theactualcostshallberecognizedaccordingtothefairvalue.Thecostofself-developedintangibleassetsshallbethetotalexpenditureincurredbeforetheyreachtheintendeduse.

2.Servicelifeanditsdeterminationbasis,estimation,amortizationmethod,orreviewprocedureIntangibleassetswithfiniteservicelivesareamortizedusingthemethodspresentedinthetablebelowovertheirservicelives,andtheservicelivesandamortizationmethodsofintangibleassetsarereviewedattheendoftheyearandadjustedaccordinglyiftherearedifferencesfromtheoriginalestimates.Intangibleassetswithindefiniteservicelivesarenotamortized,butarereviewedattheendoftheyearforservicelivesandestimatedwhenthereisconclusiveevidencethattheservicelifeisfinite.Theusefullifeanditsdeterminationbasisandamortizationmethodofintangibleassetswithrestrictedusefullife:

CategoryUsefullifeDeterminationbasisofusefullifeAmortizationmethod
Landuseright20-50yearsDurationoflanduserightsMethodofline
Patentuseright5-20yearsExpectednumberofyearsofbenefitMethodofline
Software3-10yearsExpectednumberofyearsofbenefitMethodofline
Trademarkright3-10yearsExpectednumberofyearsofbenefitMethodofline
Other3-10yearsExpectednumberofyearsofbenefitMethodofline

TheintangibleassetsareregardedasintangibleassetswithuncertainservicelifeifthetermduringwhichtheycanbringeconomicbenefitstotheCompanyisunforeseeableoriftheirusageperiodisuncertain.Thebasesfordeterminingofuncertainservicelifeare:Theintangibleassetscomefromcontractualorotherlegalrights,butthecontractorlawshavenocertainstipulationsoftheservicelife;thetermduringwhichtheintangibleassetsbringeconomicbenefitstotheCompanyisstillunforeseeableevenwithconsiderationofpeerstatusordemonstrationsofrelatedprofessionals.Attheendofeachyear,thereviewofservicelifeofintangibleassetswithuncertainservicelifemainlyadoptsthemethodofreviewingfromlowerdepartmenttoupperdepartment,wheredepartmentsrelatedtotheuseofintangibleassetsshallconductthebasicreviewandmakeassessmentofwhetherthedeterminingbasisofuncertainservicelifechanges.

3.ThescopeofR&DexpenditurecollectionandtherelatedaccountingtreatmentThescopeoftheCompany’sR&DexpendituresismainlyformulatedbasedontheCompany’sresearchanddevelopmentprojects,whichmainlyincludes:R&Dpersonnel’semployeeremuneration,directinputexpenses,depreciationexpensesandlong-termamortizationexpenses,designexpenses,equipmentcommissioningexpenses,amortizationexpensesofintangibleassets,commissionedexternalresearchanddevelopmentexpenses,andotherexpenses,etc.Expendituresincurredduringtheresearchphaseofaninternalresearchanddevelopmentprojectarerecognizedinprofitorlosswhenincurred;expendituresincurredduringthedevelopmentphasethatmeettheconditionsforrecognitionasanintangibleassetaretransferredtointangibleassetaccounting.

Specificcriteriafordividingtheresearchphaseanddevelopmentphaseofinternalresearchanddevelopmentprojects:TheexpendituresininternalresearchanddevelopmentprojectsoftheCompanyareclassifiedintoexpendituresinresearchstageandexpendituresindevelopmentstage.Theexpendituresinresearchstageareincludedinthecurrentprofitsandlosseswhenincurred.Theexpendituresindevelopmentstagearerecognizedasintangibleassetswhenmeetingthefollowingconditions:

(1)Thecompletionoftheintangibleassetsmakesittechnicallyfeasibleforusingorselling;

(2)Havingtheintentiontocompleteanduseorselltheintangibleassets;

(3)Thewayinwhichanintangibleassetgenerateseconomicbenefits,includingtheproofthattheproductsproducedwiththeintangibleassetscanbesoldinamarketortheproofofitsusefulnessiftheintangibleassetscanbesoldinamarketandwillbeusedinternally;

(4)Havingsufficienttechnical,financialresourcesandotherresourcestosupportthedevelopmentoftheintangibleassetsandtheabilitytouseorselltheintangibleassets;

(5)Expenditureattributabletothedevelopmentstageofintangibleassetscanbemeasuredreliably.Thecostofself-developedintangibleassetsincludesthetotalexpenditureincurredaftermeetingintangibleassetsrecognitioncriterionandbeforereachingintendeduse.Expendituresthathavebeenexpensedinpreviousperiodsarenolongeradjusted.

30.ImpairmentofLong-termAssetsForlong-termassetshavingtheindicationofimpairmentonbalancesheetdatesuchaslong-termequityinvestments,investmentpropertymeasuredincostmode,fixedassets,constructioninprogress,productivelivingassetsmeasuredincostmode,oilandgasassets,andintangibleassets,theCompanyshalltesttheimpairment.Iftheimpairmenttestresultsindicatethattherecoverableamountoftheassetislowerthanitsbookvalue,theimpairmentprovisionshallbemadeatthedifferenceandincludedintheimpairmentloss.Therecoverableamountisthehigherofthefairvalueoftheassetminusthedisposalcostandthepresentvalueoftheexpectedfuturecashflowoftheasset.Theprovisionforimpairmentofassetsiscalculatedandrecognizedonthebasisofindividualassets.Ifitisdifficulttoestimatetherecoverableamountofindividualassets,therecoverableamountoftheassetgroupshallberecognizedbytheassetgrouptowhichtheassetbelongs.Theassetgroupisthesmallestportfolioofassetsthatcangeneratecashinflowsindependently.Goodwillpresentedseparatelyinthefinancialstatementsshallbetestedforimpairmenteveryyear,whetherornotthereisanyindicationofimpairment.Thebookvalueofthegoodwillshallbeapportionedtotheassetgrouporportfolioofassetgroupsthatisexpectedtobenefitfromthesynergiesofthebusinesscombinationwhentheimpairmenttestisconducted.Thecorrespondingimpairmentlossisrecognizedifthetestresultsindicatethattherecoverableamountoftheassetgrouporportfolioofassetgroupscontainingtheapportionedgoodwillislowerthanitsbookvalue.Theamountoftheimpairmentlossshalloffsetthebookvalueofthegoodwillapportionedtotheassetgrouporportfolioofassetgroups,andoffsetthebookvalueofotherassetsinproportionaccordingtotheproportionofthebookvalueofotherassetsexceptthegoodwillintheassetgrouporportfolioofassetgroups.Oncetheimpairmentlossoftheaboveassetisrecognized,theportionthatthevalueisrestoredwillnotbewrittenbackinsubsequentperiods.

31.Long-termPrepaidExpenseLong-termprepaidexpensereferstogeneralexpenseswiththeapportionedperiodoveroneyear(excludingoneyear)thathaveoccurredbutareattributabletothecurrentandfutureperiods.Long-termprepaidexpenseshallbeamortizedaveragelywithinbenefitperiod.Incaseofnobenefitinthefutureaccountingperiod,theamortizedvalueofsuchitemthatfailstobeamortizedshallbetransferredintothecurrentprofitsandlosses.

32.ContractLiabilitiesTheCompanypresentstheobligationstotransfergoodsorprovideservicestocustomersforconsiderationreceivedorreceivablefromcustomersascontractliabilities.Contractassetsandcontractliabilitiesunderthesamecontractarepresentednet:ifthenetamountresultsinadebitbalance,itispresentedin“ContractAssets”or“OtherNon-currentAssets”basedonitsliquidity;ifthenetamountresultsinacreditbalance,itispresentedin“ContractLiabilities”or“OtherNon-currentLiabilities”basedonitsliquidity.Contractassetsandcontractliabilitiesunderdifferentcontractscannotbeoffsetagainsteachother.

33.Payroll

(1)Accountingtreatmentoftheshort-termremunerationEmployeebenefitsrefertoallformsofremunerationorcompensationgivenbytheCompanyforservicesrenderedbyemployeesorfortheterminationofemploymentrelationships.Employeebenefitsmainlyincludeshort-termbenefits,post-employmentbenefits,terminationbenefitsandotherlong-termemployeebenefits.Theshort-termcompensationactuallyhappenedduringtheaccountingperiodwhentheactivestaffofferingtheservicefortheCompanyshouldberecognizedasliabilitiesandisincludedinthecurrentprofitsandlossesexceptforthoserequiredorallowedtobeincludedintheassetscostbytheAccountingStandardsforBusinessEnterprises.TheemployeeservicesbenefitsactuallyhappenedintheCompanyshallbeincludedinthecurrentprofitsandlossesorrelevantassetscostaccordingtotheactualamount.Ofwhichthenon-monetarybenefitsshouldbemeasuredaccordingtothefairvalue.Duringtheaccountingterminwhichemployeesprovideservice,theCompanycalculatesanddeterminesthecorrespondingpayrollamountinaccordancewiththewithdrawalbasisandwithdrawalproportionspecifiedinregulationswiththesocialinsurancepremiumssuchasmedicalinsurancepremiums,industrialinjuryinsurancepremiumandbirthinsurancepremium,housingfund,andthelaborunionbudgetandemployeeeducationbudgetwithdrawninregulations,andthenrecognizesitasliabilitiesthatareincludedinthecurrentprofitsandlossesorrelevantassetscost.

(2)AccountingtreatmentofthewelfareafterdemissionThepayableanddepositamountcalculatedaccordingtothedefinedcontributionplanduringtheaccountingperiodwhentheactivestaffofferingtheservicefortheCompanyisrecognizedasliabilitiesandisincludedinthecurrentprofitsandlossesorrelevantassetscost.Thebenefitobligationsarisingfromthedefinedbenefitplanshallbeattributabletotheperiodinwhichtheemployeesprovideservicesbasedontheformuladeterminedbyexpectedcumulativewelfareunitmethodandincludedincurrentprofitsandlossesorcostofrelevantasset.

(3)AccountingtreatmentofthedemissionwelfareWhenofferingthedemissionwelfare,theCompanyshallrecognizethepayrollliabilitiesincurredfromthedemissionwelfareontheearlierofthedatewhentheCompanycouldnotunilaterallywithdrawthedemissionwelfareofferedbytheplanorlayoffproposalowingtoterminationofthelaborrelationshiporthedatewhentheCompanyrecognizesthecostrelatedtothereorganizationofthepaymentofthedemissionwelfare,andincludethepayrollliabilitiesintothecurrentprofitsandlosses:

(4)Accountingtreatmentofthewelfareofotherlong-termstaffsTheotherlong-termwelfarethattheCompanyofferstothestaff,ifmetwiththesettingdrawingplan,shallbedisposedofaccordingtotherelevantsettingdrawingplan;exceptforthat,netliabilitiesornetassetsofthewelfareofotherlong-termstaffshallberecognizedandmeasuredaccordingtothesettingdrawingplan.

34.AccruedliabilitiesTheobligationpertinenttocontingenciesshallberecognizedasprovisionswhenthatobligationisacurrentobligationoftheCompany,anditislikelytocauseanyeconomicbenefittoflowoutoftheenterpriseasaresultofperformanceoftheobligation,whiletheamountoftheobligationcanbemeasuredinareliableway.TheCompanyconductstheinitialmeasurementinaccordancewiththebestestimateofthenecessaryexpensesfortheperformanceofthecurrentobligation.Ifthereisasequentrangeforthenecessaryexpensesandifalltheoutcomeswithinthisrangeareequallylikelytooccur,thebestestimateshallbedeterminedinaccordancewiththemidpointestimatewithintherange;ifthecontingenciesconcerntwoormoreitems,thebestestimateshallbecalculatedanddeterminedinaccordancewithallpossibleoutcomesandtherelevantprobabilities.Reviewofthebookvalueofprovisionsshallbeconductedonthebalancesheetdate.Thebookvalueshallbeadjustedinaccordancewiththecurrentbestestimatewhenthereisdefiniteevidenceindicatingthatthebookvaluecannotreflectthecurrentbestestimateinfaithfulness.

35.Share-basedPaymentNotapplicable

36.OtherFinancialInstrumentssuchasPreferredSharesandPerpetualBondsNotapplicable

37.RevenueDisclosureofaccountingpoliciesadoptedforrevenuerecognitionandmeasurementbytypeofbusinessTheCompanyrecognizesrevenuebasedonthetransactionpriceapportionedtotheperformanceobligationinacontractwhenthecustomerobtainscontroloftheunderlyinggoodorservice.Obtainingcontrolofrelatedgoodsreferstothatcustomerscancontroltheuseofthegoodsandobtainalmostalltheeconomicbenefitsfromthegoods.AperformanceobligationisacontractualcommitmentbytheCompanytotransferaclearlydistinguishablecommoditytoacustomer.ThetransactionpriceistheamountofconsiderationthattheCompanyexpectstobeentitledtoreceiveasaresultofthetransferofthecommoditytothecustomer,excludingamountscollectedonbehalfofthirdpartiesandamountsthattheCompanyexpectstoreturntothecustomer.Whethertheperformanceobligationistobefulfilledwithinacertainperiodoftimeoratacertainpointintimedependsonthetermsofthecontractandtherelevantlegalprovisions.Iftheperformanceobligationisfulfilledwithinacertainperiodoftime,theCompanyrecognizesrevenueinaccordancewiththeprogressofperformance.Otherwise,theCompanyrecognizesrevenueatapointintimewhenthecustomerobtainscontroloftheunderlyingasset.TheCompanydetermineswhethertheCompany’sstatusisthatofaprincipaloragentwhenengaginginatransactionbasedonwhetherithascontroloverthegoodsorservicespriortotransferringthemtothecustomer.IftheCompanyisabletocontrolthegoodsorservicesbeforetransferringthemtothecustomer,theCompanyistheprincipalresponsiblepartyandrecognizesrevenuebasedonthetotalconsiderationreceivedorreceivable.Otherwise,theCompanyshallrecognizerevenueasanagentbasedontheamountofcommissionsorfeestowhichitisexpectedtobeentitled,whichshallbedeterminedatthenetamountofthetotalconsiderationreceivedorreceivablelessthepricepayabletootherrelatedparties,orattheestablishedcommissionamountorpercentage,etc.Specificprinciplesandmeasurementmethodsforrevenuerecognitionbybusinesstype:TheCompanyrecognizesrevenuefromgenerallightingproducts,LEDpackagingandcomponentproducts,automotivelampproducts,tradingandotherproductsasfollows:

(1)Recognitionofdomesticsalesrevenue:Undertheconventionalsettlementmode,theCompanyhasdeliveredgoodsthathavepassedinspectiontothepurchaserasrequiredbythepurchaser,theamountofrevenuehasbeendetermined,asalesinvoicehasbeenissuedandthepaymenthasbeenreceivedorisexpectedtoberecovered;

undertheconsignmentsalessettlementmode,theCompanyrecognizessalesrevenuewhentheproductisissuedandthesettlementnoticeisissuedafterthecustomerinspectionisqualified.

(2)Recognitionofexportsalesrevenue:TheCompanyhasproducedgoodsaccordingtotherequirementsstipulatedinthesalescontract,andcompletedtheexportdeclarationproceduresafterthegoodshavepassedinspection;productshavebeenloadedonboard;theamountofrevenuehasbeendetermined,anexportsalesinvoicehasbeenissued,andthepaymenthasbeenreceivedorisexpectedtoberecovered.DifferentbusinessmodelsforthesametypeofbusinessinvolvingdifferentrevenuerecognitionandmeasurementmethodsNone.

38.ContractCostsContractcostsareeithertheincrementalcostsofobtainingacontractwithacustomerorthecoststofulfilacontractwithacustomer.Incrementalcostsofobtainingacontract(“contractacquisitioncosts”)arecoststhatwon’thavebeenincurredifthecontractisnotacquired.TheCompanyrecognizesasanassettheincrementalcostsofobtainingacontractwithacustomerifitexpectstorecoverthosecosts.Costsincurredfortheperformanceofacontractthatdonotfallwithinthescopeofotherenterpriseaccountingstandards,suchasinventory,arerecognizedasanassetascontractperformancecostswhenthefollowingconditionsaresimultaneouslymet:Thecostisdirectlyrelatedtoacurrentoranticipatedacquisitionofacontractandincludesdirectlabor,directmaterials,manufacturingoverhead(orsimilarcosts),costsexplicitlyattributabletotheuser,andothercostsincurredsolelyasaresultofthatcontract;thecostincreasestheresourcesavailabletomeetfutureperformanceobligations;andthecostisexpectedtoberecovered.Contractperformancecostsrecognizedasassetsareincludedin“Inventory”onthebalancesheetiftheamortizationperiodattheinitialrecognitiondoesn’texceedoneyearoronenormaloperatingcycle;iftheamortizationperiodattheinitialrecognitionismorethanoneyearoronenormaloperatingcycle,theyareincludedin“Othernon-currentassets”onthebalancesheet.Contractacquisitioncostrecognizedasassetsareincludedin“Othercurrentassets”onthebalancesheetiftheamortizationperiodattheinitialrecognitiondoesn’texceedoneyearoronenormaloperatingcycle;iftheamortizationperiodattheinitialrecognitionismorethanoneyearoronenormaloperatingcycle,theyareincludedin“Othernon-currentassets”onthebalancesheet.TheCompanyamortizestheassetsrecognizedforcontractacquisitioncostsandcontractperformancecostsonthesamebasisastherevenuerecognitionofthemerchandisetowhichtheassetsrelate,andrecognizestheminprofitorlossforthecurrentperiod.Assetsformedfromtheincrementalcostofacquiringacontractwithanamortizationperiodofnotmorethanoneyeararerecognizedinprofitorlossforthecurrentperiodwhenitoccurs.Ifthecarryingamountofanassetrelatedtothecostofacontractexceedsthedifferencebetweenthefollowingtwoitems,theCompanymakesanallowanceforimpairmentandrecognizesanassetimpairmentlossfortheexcess:theremainingconsiderationexpectedtobereceivedforthetransferofthemerchandisetowhichtheassetrelates;andtheestimatedcoststobeincurredforthetransferoftherelatedmerchandise.Ifthetwodifferencesabovearehigherthanthebookvalueoftheassetsduetothesubsequentchangesintheimpairmentfactorsinpreviousperiods,theassetimpairmentprovisionssetasideshouldbereversedandrecognizedasprofitandlossofthecurrentperiod.However,uponthereversal,thebookvalueoftheassetsshallnotexceedthebookvalueoftheassetsonthereversaldate,supposingthatimpairmentprovisionsarenotsetaside.

39.GovernmentSubsidies

1.CategoryofandaccountingtreatmentforgovernmentsubsidiesGovernmentsubsidiesrefertothemonetaryassetsornon-monetaryassetsobtainedbytheCompanyfromthegovernment(excludingthecapitalinvestedbythegovernmentasanequityholder).Ifagovernmentsubsidyisa

monetaryasset,itshallbemeasuredaccordingtotheamountreceivedorreceivable.Ifagovernmentsubsidyisanon-monetaryasset,itshallbemeasuredatitsfairvalue,andshallbemeasuredatanominalamountwhenthefairvaluecannotbeobtainedreliably.Governmentsubsidiesrelatedtothedailyactivitiesareincludedinotherincomeinaccordancewiththenatureofeconomicbusiness.Governmentsubsidiesunrelatedtothedailyactivitiesareincludedinnon-operatingrevenue.Governmentsubsidiesarerecognizedasasset-relatedsubsidieswhenstipulatedbygovernmentdocumentstobeusedforacquisition,constructionorotherwiseformationlong-termassets.Regardingthegovernmentgrantsthatthegovernmentdocumentdoesnotspecifytheobjectofsubsidyandcanformlong-termassets,thepartofgovernmentsubsidycorrespondingtotheassetvalueshallberegardedastheasset-relatedgovernmentsubsidyandtherestshallberegardedasincome-relatedgovernmentsubsidy.Ifitisdifficulttodistinguish,thegovernmentsubsidyshallberegardedastheincome-relatedgovernmentsubsidy.Governmentgrantsrelatedtoassetsarerecognizedasdeferredincome.Theamountrecognizedasdeferredincomeisincludedinthecurrentprofitsandlossesinaccordancewithreasonableandsystematicmethodintheusefullifeofrelevantassets.Governmentsubsidiesotherthanasset-relatedgovernmentsubsidiesarerecognizedasgovernmentsubsidiesrelatedtoincome.Governmentsubsidiesrelatedtoincomeusedtocompensatetherelevantcosts,expensesorlossesoftheCompanyinthesubsequentperiodshallberecognizedasdeferredincome,andshallbeincludedinthecurrentprofitandlossduringtheperiodofconfirmingtherelevantcost,expensesorlosses;subsidiesusedtocompensatetherelevantcosts,expensesorlossesincurredbytheCompanyshallbedirectlyincludedinthecurrentprofitsandlosses.InthecasethattheCompanyobtainsapolicyfavorableloaninterestsubsidy,andthefiscalsystemallocatesthefundofinterestsubsidytothelendingbank,whoprovidesloanstotheCompanyatapolicyfavorableinterestrate,theactualloanamountreceivedisrecognizedastherecordedvalueoftheloan,andtherelevantborrowingcostsarecalculatedbasedontheloanprincipalandthepolicyfavorableinterestrate;ifthefiscalsystemallocatesthefundofinterestsubsidytotheCompanydirectly,theCompanyreducesthecorrespondinginterestsubsidyagainstrelevantborrowingcosts.

2.RecognitiontimeofgovernmentsubsidiesGovernmentsubsidiesshallberecognizedwhentheCompanysatisfiestheconditionsattachedtothegovernmentsubsidiesandisabletoreceivethem.Governmentsubsidiesmeasuredaccordingtothereceivableamountshallberecognizedwhenthereispositiveevidenceattheendoftheperiodthattheycanmeettherelevantconditionsstipulatedbythefinancialsupportpoliciesandareexpectedtoreceivefinancialsupportfunds.OthergovernmentsubsidiesotherthangovernmentsubsidiesmeasuredbyamountreceivablearerecognizedwhentheCompanyactuallyreceivesthesubsidies.

40.DeferredIncomeTaxAssets/DeferredIncomeTaxLiabilities

1.RecognitionofdeferredincometaxTheCompanyrecognizesthedeferredincometaxassetsordeferredincometaxliabilitiesinaccordancewiththeapplicabletaxrateduringtheestimatedperiodofrecapturingtheassetsorpayingtheliabilitiesforthedifferentamountbetweenthebookvalueofassetsorliabilitiesanditstaxbase(foritemsnotrecognizedasassetsandliabilities,ifitstaxbasiscanbedeterminedaccordingtothetaxlaw,thetaxbasisisrecognizedasthedifferentamount).

2.MeasurementofdeferredincometaxTherecognitionofdeferredincometaxassetsissubjecttotheamountoftaxableincomeobtainedtooffsetthedeductibletemporarydifferences.Onthebalancesheetdate,deferredincometaxassetswithoutrecognitionduringtheformeraccountingperiodshallberecognizediftherearedefiniteindicationsrepresentingthatitisprobabletohavesufficienttaxableincometooffsetthedeductibletemporarydifferencesduringthefutureperiod.Ifitislikelythatsufficienttaxableincomewillnotbeavailabletooffsetthebenefitofthedeferredincometaxassetsinthefutureperiod,thebookvalueofthedeferredincometaxassetswillbewrittendown.Fortaxabletemporarydifferencesrelatedtotheinvestmentinsubsidiariesandassociatedenterprises,thedeferredincometaxliabilitiesarerecognizedunlessthetimeoftemporarydifferencesreversalcanbecontrolledbythe

Companyandareprobablynottobereversedinforeseeablefuture.Fordeductibletemporarydifferencesrelatedtotheinvestmentinsubsidiariesandassociatedenterprises,thedeferredincometaxassetsarerecognizedifthetemporarydifferencesareprobablytobereversedinforeseeablefutureanditislikelytohavetaxableincometooffsetthedeductibletemporarydifferences.

3.BasisfornettingoffdeferredincometaxesDeferredincometaxassetsanddeferredincometaxliabilitiesarepresentedinnetamountafteroffsettingwhenthefollowingconditionsaresimultaneouslymet:thereisalegalrighttosettlecurrentincometaxassetsandcurrentincometaxliabilitiesonanetbasis;thedeferredincometaxassetsanddeferredincometaxliabilitiesarerelatedtoincometaxesleviedbythesametaxauthorityonthesametaxableentityorarerelatedtodifferenttaxableentities,butarenotexpectedtoreverseinthefutureineachoftheperiodsinwhichthedeferredincometaxassetsanddeferredincometaxliabilitiesarematerial;andthetaxableentitiesinvolvedintendtosettlecurrentincometaxassetsandcurrentincometaxliabilitiesonanetbasis.However,ineachfutureperiodinwhichthedeferredtaxassetsanddeferredtaxliabilitiesarereversed,thetaxableentityinvolvedintendstoeithersettlethecurrentincometaxassetsandcurrentincometaxliabilitiesonanetbasisortoacquiretheassetsandsettletheliabilitiesatthesametime.

41.LeaseTheCompanyassesseswhetheracontractisaleaseorcontainsaleaseattheinceptiondateofthecontract.Acontractisaleaseorcontainsaleaseifoneofthepartiestothecontracthasgivenuptherighttocontroltheuseofoneormoreidentifiedassetsforaspecifiedperiodoftimeinexchangeforconsideration.

(1)Accountingtreatmentforleasesasthelessee

1.Onthestartdateoftheleaseterm,theCompanydeemstheright-of-useassetsandleaseliabilitiesofalltheoperatingleasesexceptfortheshort-termleasesandlow-valueleases,andrecognizesthedepreciationexpenseandinterestexpenserespectivelywithintheleaseterm.

(1)Right-of-useassetsAfterthecommencementdateoftheleaseterm,theGroupusesthecostforinitialmeasurementofright-of-useassets.Thiscostincludestheinitialmeasurementamountoftheleaseliability,leasepaymentsmadeonorbeforethecommencementdateoftheleasetermnetofleaseincentives,andinitialdirectcost.Ifitisreasonablycertainthattheownershipoftheleaseholdpropertywillbeobtainedattheendoftheleaseterm,theCompanywilldepreciatetheleaseholdpropertyoveritsestimatedremainingservicelife.Ifitisnotreasonablycertainthattheownershipoftheleaseholdpropertywillbeobtainedattheendoftheleaseterm,theCompanywilldepreciatetheleasedassetsovertheleasetermortheremainingservicelife,whicheverisshorter.Whentherecoverableamountislessthanthecarryingamountoftheright-of-useasset,thecarryingamountiswrittendowntotherecoverableamount.

(2)LeaseliabilitiesTheCompanyinitiallymeasurestheleaseliabilitiesatthecurrentvalueoftheleasepaymentsoutstandingatthestartdateoftheleaseterm.Leasepaymentsincludefixedpaymentsandpaymentsthatarereasonablycertaintobemadewhentheoptiontopurchaseorterminatetheleaseisexercised.Variableleasepaymentsthatarenotcoveredinthemeasurementoftheleaseliabilitiesareincludedincurrentprofitorlosswhenactuallyincurred.TheCompanyusestheinterestrateimplicitinleaseastherateofdiscount.Iftheinterestrateimplicitinleasecannotbereasonablydetermined,theCompany’sincrementalborrowingrateisusedastherateofdiscount.Interestexpenseontheleaseliabilityforeachperiodduringtheleasetermiscalculatedonthebasisofafixedperiodicrate,i.e.,thediscountrateusedbytheCompanyorareviseddiscountrate,andisincludedinfinancecosts.

2.Judgmentcriteriaandaccountingtreatmentforshort-termleasesandleasesoflow-valueassetsasalesseeforsimplifiedtreatment

Forshort-termleaseswithaleasetermofnoexceeding12monthsandleaseswherethebrand-newvalueofasingleassetislessthanRMB40,000,theCompanyhaselectednottorecognizeright-of-useassetsandleaseliabilities,andtochargetherelatedrentalexpensestocurrentprofitorlossorthecostoftherelatedassetsonastraight-linebasisforeachperiodduringtheleaseterm.

(2)AccountingtreatmentofleasesasthelessorTheCompanyrecognizesleasesthattransfersubstantiallyalltherisksandrewardsassociatedwithownershipoftheleasedassetasfinanceleasesattheinceptionofthelease,andleasesotherthantheseareclassifiedasoperatingleases.

(1)AccountingtreatmentofoperatingleasesRentalincomefromoperatingleasesisrecognizedonastraight-linebasisovertheleaseterm.Initialdirectexpensesarecapitalizedandrecognizedascurrentincomeininstalmentsovertheleasetermonthesamerecognitionbasisasrentalincome,andvariablerentalsnotincludedinleasereceiptsarerecognizedasrentalincomewhentheyareactuallyincurred.

(2)AccountingtreatmentoffinancialleaseOntheinceptionofalease,thedifferencebetweenthesumoffinanceleasereceivableandunguaranteedresidualvalueanditspresentvalueisrecognizedasunrealizedleaseincomebytheCompany,whichisrecognizedasleaseincomeineachperiodwhentherentisreceivedinthefutureandthefinanceleaseassetisderecognized.Initialdirectcostsareincludedintheinitialrecordedvalueofthefinanceleasereceivable.

42.OtherSignificantAccountingPoliciesandEstimates

(1)SafetyproductionexpensesOperatingintheelectricalmachineryandequipmentmanufacturingindustry,theCompanyhasaccruedsafetyproductionexpensesinaccordancewiththerelevantprovisionsoftheManagementMeasuresfortheProvisionandUseofEnterpriseProductionSafetyCosts(C.Z.[2022]No.136)jointlyissuedbytheMinistryofFinanceandtheMinistryofEmergencyManagementonNovember21,2022.Safetyproductionexpenses,whenaccrued,areincludedincostsorcurrentprofitorlossofrelevantproductsandinthe“SpecialReserve”account.Whensafetyproductionexpensesareusedwithintheprescribedscopeandareoperatingexpenses,theyaredirectlyusedtooffsetthespecialreserves.Iftheyformfixedassets,theexpensesincurredarefirstaggregatedunderthe“ConstructioninProgress”account,andwhenthesafetyprojectsarecompletedandreachthepredeterminedusablestate,theyarerecognizedasfixedassets.Meanwhile,thespecialreservesareoffsetasperthecostofformingfixedassets,andanequivalentamountofaccumulateddepreciationisrecognized.Theaforesaidfixedassetswillnotbedepreciatedasaccruedinthefutureperiod.

43.ChangesinMainAccountingPoliciesandEstimates

(1)Changeinaccountingpolicies?Applicable?Notapplicable

(2)Changesinaccountingestimates

□Applicable?Notapplicable

(3)AdjustmentstoFinancialStatementItemsattheBeginningoftheYearoftheFirstImplementationoftheNewAccountingStandardsImplementedsince2025

□Applicable?Notapplicable

44.OtherNoneVI.Taxes

1.MainTaxesandTaxRates

CategoryoftaxesTaxbasisTaxrate
VATSalesvolumefromgoodssellingortaxableservice3%,6%,9%,13%
UrbanmaintenanceandconstructiontaxTurnovertaxpayable7%,5%
EnterpriseincometaxTaxableincome15%,22%,25%

Notesofthedisclosuresituationofthetaxpayingbodieswithdifferententerprisesincometaxrate

NameIncometaxrate
TheCompany,ZhidaCompany,ChanchangCompany,HaolaiteCompany,LiaowangAutoLamp,ChongqingGuinuo,LiuzhouLighting,LiuzhouForeshine,QingdaoLighting,NationStarOptoelectronics,NationStarSemiconductor,FenghuaSemiconductor,HainanTechnology,HuleElectricEquipment,GermanyNationStarandXinxiangCompany15%
IndonesiaLiaowang22%
Othersubsidiaries25%

2.TaxPreference

1.TheCompanypassedthereviewofhigh-techenterprisesinDecember2023andobtainedthecertificateofhigh-techenterprise(CertificateNo.GR202344003659).Accordingtorelevantregulations,theCompanyisentitledtoareducedenterpriseincometaxrateof15%forthreeyearsstartingfrom2023.

2.SubsidiaryZhidaCompanypassedthereviewofhigh-techenterprisesinDecember2022andobtainedthecertificateofhigh-techenterprise(CertificateNo.:GR202244009711).Accordingtotherelevantregulations,ZhidaCompanyisentitledtoareducedenterpriseincometaxrateof15%forthreeyearsstartingfrom2022.InaccordancewiththerelevantprovisionsoftheEnterpriseIncomeTaxLawofthePeople’sRepublicofChina,ZhidaCompanyshallprepaytheenterpriseincometaxratefor2025atataxrateof15%.

3.SubsidiaryChanchangCompanypassedtheauditofhigh-techenterprisesinNovember2024andobtainedthecertificateofhigh-techenterprise(CertificateNo.:GR202444001793).Accordingtotherelevantregulations,ChanchangCompanyisentitledtoareducedenterpriseincometaxrateof15%forthreeyearsstartingfrom2024.

4.SubsidiaryHaolaiteCompanypassedthereviewofhigh-techenterprisesinDecember2022andobtainedthecertificateofhigh-techenterprise(CertificateNo.GR202244003711).Accordingtorelevantregulations,HaolaiteCompanyisentitledtoareducedenterpriseincometaxrateof15%forthreeyearsstartingfrom2022.InaccordancewiththerelevantprovisionsoftheEnterpriseIncomeTaxLawofthePeople’sRepublicofChina,HaolaiteCompanyshallprepaytheenterpriseincometaxratefor2025atataxrateof15%.

5.SubsidiaryLiaowangAutoLamppassedthereviewofhigh-techenterprisesinDecember2023andobtainedthecertificateofhigh-techenterprise(CertificateNo.GR202345001098).Accordingtorelevantregulations,NanningLiaowangisentitledtoareducedenterpriseincometaxrateof15%forthreeyearsstartingfrom2023.

6.ChongqingGuinuo,awholly-ownedsubsidiaryofLiaowangAutoLamp,enjoysthetaxincentivesofreducingandexemptingenterpriseincometaxforthedevelopmentofwesternChinasinceJanuary1,2019,andisentitledtoareducedenterpriseincometaxrateof15%afterexaminationbyandfilingwiththetaxauthorities.

7.LiuzhouLighting,awholly-ownedsubsidiaryofLiaowangAutoLamp,passedthereviewofhigh-techenterpriseinDecember2022andobtainedthecertificateofhigh-techenterprise(CertificateNo.:

GR202245001221).Accordingtorelevantregulations,LiuzhouLightingwillpayenterpriseincometaxatareducedrateof15%forthreeyearsstartingfrom2022.InaccordancewiththerelevantprovisionsoftheEnterpriseIncomeTaxLawofthePeople’sRepublicofChina,LiuzhouLightingshallprepaytheenterpriseincometaxratefor2025atataxrateof15%.

8.LiuzhouForeshine,awholly-ownedsubsidiaryofLiaowangAutoLamp,passedthereviewofhigh-techenterpriseinNovember2024andobtainedthecertificateofhigh-techenterprise(CertificateNo.:

GR202445000159).Accordingtorelevantregulations,LiuzhouFuxuanwillpayenterpriseincometaxatareducedrateof15%forthreeyearsstartingfrom2024.Inaddition,accordingtotheNoticeoftheGuangxiZhuangAutonomousRegionDepartmentofFinanceandtheGuangxiZhuangAutonomousRegionTaxServiceoftheStateTaxationAdministrationonClarifyingthePolicyonthePartialExemptionofLocalShareofEnterpriseIncomeTaxunderCertainCircumstances(G.C.S.[2023]),enterprisesrecognizedashighandnewtechnologyenterprisesduringtheperiodfrom2021to2025shallbeexempt,forfiveconsecutiveyearsstartingfromthefirstyearofrecognition,fromtheportionofenterpriseincometaxthatislocallyshared.Accordingtotheaboveprovisions,LiuzhouForeshineisentitledtoa40%reductioninitspayableenterpriseincometax.

9.QingdaoLighting,awholly-ownedsubsidiaryofLiaowangAutoLamp,passedtherecognitionofhigh-techenterpriseonDecember2022andobtainedthecertificateofhigh-techenterprise(CertificateNo.:

GR202237100785).Accordingtorelevantregulations,QingdaoLightingwillpayenterpriseincometaxatareducedrateof15%forthreeyearsstartingfrom2022.InaccordancewiththerelevantprovisionsoftheEnterpriseIncomeTaxLawofthePeople’sRepublicofChina,QinghaiLightingshallprepaytheenterpriseincometaxratefor2025atataxrateof15%.

10.SubsidiaryNationStarOptoelectronicspassedtherecognitionofhigh-techenterprisesinDecember2023andobtainedthecertificateofhigh-techenterprise(CertificateNo.GR202344017343).Accordingtorelevantregulations,NationStarOptoelectronicswillpayenterpriseincometaxatareducedrateof15%forthreeyearsstartingfrom2023.

11.NationStarSemiconductor,awholly-ownedsubsidiaryofNationStarOptoelectronics,passedtherecognitionofhigh-techenterpriseonNovember2024andobtainedthecertificateofhigh-techenterprise(CertificateNo.:

GR202444004544).Accordingtorelevantregulations,NationStarSemiconductorwillpayenterpriseincometaxatareducedrateof15%forthreeyearsstartingfrom2024.

12.FenghuaSemiconductor,amajority-ownedsubsidiaryofNationStarOptoelectronics,passedtherecognitionofhigh-techenterpriseonDecember2024andobtainedthecertificateofhigh-techenterprise(CertificateNo.:

GR202444013633)Accordingtorelevantregulations,FenghuaSemiconductorwillpayenterpriseincometaxatareducedrateof15%forthreeyearsstartingfrom2024.

13.InOctober2024,thesubsidiaryHainanTechnologyobtainedthequalificationasaHighandNewTechnologyEnterpriseandreceivedtheHighandNewTechnologyEnterpriseCertificate(CertificateNo.:GR202446000187).Accordingtorelevantregulations,HainanTechnologyisentitledtopayenterpriseincometaxatareducedrateof15%forthreeyearsstartingfrom2024.

14.InDecember2023,HuleElectricalEquipment,amajority-ownedsubsidiaryofHainanTechnology,obtainedthequalificationasaHighandNewTechnologyEnterpriseandreceivedtheHighandNewTechnologyEnterpriseCertificate(CertificateNo.:GR202333010552).Accordingtorelevantregulations,HuleElectricalEquipmentisentitledtopayenterpriseincometaxatareducedrateof15%forthreeyearsstartingfrom2023.

15.InOctober2024,thesubsidiaryXinxiangCompanyobtainedthequalificationasaHighandNewTechnologyEnterpriseandreceivedtheHighandNewTechnologyEnterpriseCertificate(CertificateNo.:GR202441001673).Accordingtorelevantregulations,XinxiangCompanyisentitledtopayenterpriseincometaxatareducedrateof15%forthreeyearsstartingfrom2024.

16.NationStarOptoelectronics(Germany),awholly-ownedsubsidiaryofHaolaiteCompany,isregisteredinGermany.Accordingtolocaltaxpolicies,itisentitledtoanenterpriseincometaxrateof15%.

17.SubsidiaryFozhaoHuaguang,subsidiaryBeijingHangxin,andShanghaiLelaite(indirectlycontrolledbysubsidiaryHainanTechnology)aresmallandmicroenterprises.FromJanuary1,2025toDecember31,2025,inaccordancewiththeactualconditionsofeachprovince,autonomousregion,andmunicipalitydirectlyundertheCentralGovernment,andsubjecttomacroeconomicregulationrequirements,smallandmicroenterprisesmayenjoya50%reductioninresourcetax,urbanmaintenanceandconstructiontax,propertytax,urbanlandusetax,stampduty(excludingstampdutyonsecuritiestransactions),farmlandoccupationtax,educationsurcharge,andlocaleducationsurcharge.

3.OtherPayinaccordancewiththerelevantprovisionsofthetaxlaw.

VII.NotestoMainItemsofConsolidatedFinancialStatements

1.MonetaryAssets

Unit:RMB

ItemEndingbalanceBeginningbalance
Cashonhand78,888.5740,535.66
Bankdeposits1,289,270,845.121,221,721,793.26
Othermonetaryassets(Note1)649,539,702.48512,794,818.03
Depositsplacedwithfinancecompanies(Note2)1,131,061,845.671,462,165,277.45
To-be-receivedinterest(Note3)14,468,117.3412,405,012.91
Total3,084,419,399.183,209,127,437.31
Ofwhich:Totalamountdepositedoverseas53,460,658.3132,471,593.74

Othernotes:

Note1:Othermonetaryassetsweresecuritydepositsfornotesandperformancebonds,pre-salehousepayments,aswellasinvestmentsplacedwithsecurityfirmandthebalancewithe-commerceplatforms,ofwhichthesecuritydepositsfornotes,performancebondsandpre-salehousepaymentwererestrictedassets(see“31.AssetswithRestrictedOwnershiporRightofUse”inNote“VIINotestoConsolidateFinancialStatements”).Note2:DepositsplacedwithfinancecompaniesrefertotheamountdepositedwithGuangdongRisingFinanceCo.,Ltd.Note3:To-be-receivedinterestwasinterestreceivableonunduebankdepositsandtermdepositsasattheendoftheReportingPeriod,whichisnotrecognizedascashandcashequivalents.

2.TradingFinancialAssets

Unit:RMB

ItemEndingbalanceBeginningbalance
Financialassetsatfairvaluethroughprofitorloss2,288,376.6843,649,820.47
Ofwhich:
Wealthmanagementproducts41,661,005.56
Equityinstrumentinvestments2,192,776.681,988,814.91
Others95,600.00
Ofwhich
Total2,288,376.6843,649,820.47

3.DerivativeFinancialAssetsNaught

4.NotesReceivable

(1)NotesReceivableListedbyCategory

Unit:RMB

ItemEndingbalanceBeginningbalance
Bankacceptancebill670,457,905.01928,954,818.05
Commercialacceptancebill121,580,149.3368,326,252.16
Total792,038,054.34997,281,070.21

(2)DisclosurebyWithdrawalMethodsforBadDebts

Unit:RMB

CategoryEndingbalanceBeginningbalance
CarryingamountBaddebtprovisionCarryingvalueCarryingamountBaddebtprovisionCarryingvalue
AmountProportionAmountWithdrawalproportionAmountProportionAmountWithdrawalproportion
Accountsreceivableforwhichbaddebtprovisionaccruedseparately
Notesreceivablewithdrawnbaddebtprovisionbygroup794,523,312.64100.00%2,485,258.300.31%792,038,054.34998,684,179.44100.00%1,403,109.230.14%997,281,070.21
Ofwhich:
Bankacceptancebill670,457,905.0184.38%0.000.00%670,457,905.01928,954,818.0593.02%0.000.00%928,954,818.05
Commercialacceptancebill124,065,407.6315.62%2,485,258.302.00%121,580,149.3369,729,361.396.98%1,403,109.232.01%68,326,252.16
Total794,523,312.64100.00%2,485,258.300.31%792,038,054.34998,684,179.44100.00%1,403,109.230.14%997,281,070.21

Withdrawalofbaddebtprovisionbygroup:Bankacceptancebillandcommercialacceptancebill.

Unit:RMB

NameEndingbalance
CarryingamountBaddebtprovisionWithdrawalproportion
Withinoneyear794,523,312.642,485,258.300.31%
Total794,523,312.642,485,258.30

Notes:

PleaserefertoNoteV-13.AccountsReceivablefordetails.Ifadoptingthegeneralmodeofexpectedcreditlosstowithdrawbaddebtprovisionofnotesreceivable:

□Applicable?Notapplicable

(3)BadDebtProvisionWithdrawn,ReversedorCollectedduringtheReportingPeriodInformationofbaddebtprovisionwithdrawn:

Unit:RMB

CategoryBeginningbalanceChangesintheReportingPeriodEndingbalance
WithdrawnReversalorrecoveryWrite-offOthers
Notesreceivablewithdrawnbaddebtprovisionbygroup1,403,109.231,082,149.072,485,258.30
Total1,403,109.231,082,149.072,485,258.30

Ofwhich,baddebtprovisioncollectedorreversedwithsignificantamount:

□Applicable?Notapplicable

(4)NotesReceivablePledgedbytheCompanyatthePeriod-end

Unit:RMB

ItemAmountpledgedattheperiod-end
Bankacceptancebill447,552,986.75
Total447,552,986.75

(5)NotesReceivablewhichHadEndorsedbytheCompanyorHadDiscountedandHadnotDueontheBalanceSheetDateatthePeriod-end

Unit:RMB

ItemAmountofrecognitionterminationattheperiod-endAmountofnotrecognitionterminationattheperiod-end
Bankacceptancebill63,254,781.83382,982,915.48
Commercialacceptancebill395,015.00
Total63,254,781.83383,377,930.48

(6)NotesReceivablewithActualVerificationfortheReportingPeriodNaught

5.AccountsReceivable

(1)DisclosurebyAging

Unit:RMB

AgeingEndingcarryingbalanceBeginningcarryingbalance
Withinoneyear(includingoneyear)2,074,228,964.741,958,007,653.74
Onetotwoyears181,832,703.00160,745,414.76
Twotothreeyears63,067,902.0675,845,969.51
Overthreeyears119,581,860.75116,132,806.59
Threetofouryears66,613,570.9174,345,304.65
Fourtofiveyears19,241,607.018,949,462.00
Overfiveyears33,726,682.8332,838,039.94
Total2,438,711,430.552,310,731,844.60

(2)DisclosurebyWithdrawalMethodsforBadDebts

Unit:RMB

CategoryEndingbalanceBeginningbalance
CarryingamountBaddebtprovisionCarryingvalueCarryingamountBaddebtprovisionCarryingvalue
AmountProportionAmountWithdrawalproportionAmountProportionAmountWithdrawalproportion
Accountsreceivableforwhichbaddebtprovisionaccruedseparately98,723,680.624.05%72,460,102.7373.40%26,263,577.89146,052,307.686.32%72,871,642.1849.89%73,180,665.50
Accountsreceivablewithdrawalofbaddebtprovisionbyportfolio2,339,987,749.9395.95%122,861,136.525.25%2,217,126,613.412,164,679,536.9293.68%112,192,910.465.18%2,052,486,626.46
Ofwhich:
(1)Businessportfolioofgenerallightingandautolamps1,527,343,308.5862.63%105,723,794.996.92%1,421,619,513.591,470,492,300.8863.64%97,526,907.726.63%1,372,965,393.16
(2)BusinessportfolioofLEDpackagingandcomponents812,644,441.3533.32%17,137,341.532.11%795,507,099.82694,187,236.0430.04%14,666,002.742.11%679,521,233.30
CategoryEndingbalanceBeginningbalance
CarryingamountBaddebtprovisionCarryingvalueCarryingamountBaddebtprovisionCarryingvalue
AmountProportionAmountWithdrawalproportionAmountProportionAmountWithdrawalproportion
Total2,438,711,430.55100.00%195,321,239.258.01%2,243,390,191.302,310,731,844.60100.00%185,064,552.648.01%2,125,667,291.96

Categorynameofbaddebtprovisionaccruedbyitem:Accountsreceivableforwhichbaddebtprovisionaccruedseparately.Thereisnosignificantindividualprovisionforbaddebtsforaccountsreceivableinthecurrentperiod.

Withdrawalofbaddebtprovisionbygroup:(1)Businessportfolioofgenerallightingandautolamps;(2)businessportfolioofLEDpackagingandcomponents.

Unit:RMB

NameEndingbalance
CarryingamountBaddebtprovisionWithdrawalproportion
(1)Businessportfolioofgenerallightingandautolamps1,527,343,308.58105,723,794.996.92%
(2)BusinessportfolioofLEDpackagingandcomponents812,644,441.3517,137,341.532.11%
Total2,339,987,749.93122,861,136.52

Notes:

PleaserefertoNoteV-13.AccountsReceivablefordetails.Ifadoptingthegeneralmodeofexpectedcreditlosstowithdrawbaddebtprovisionofaccountsreceivable:

□Applicable?Notapplicable

(3)BadDebtProvisionWithdrawn,ReversedorRecoveredintheReportingPeriodInformationofbaddebtprovisionwithdrawn:

Unit:RMB

CategoryBeginningbalanceChangesintheReportingPeriodEndingbalance
WithdrawlCurrent-periodrecoveryofprior-periodwrite-offsReversalorrecoveryWrite-offOthers
Accountsreceivableforwhichbaddebtprovisionaccruedseparately72,871,642.181,151,642.821,563,182.2772,460,102.73
Accountsreceivablewithdrawalofbaddebtprovision112,192,910.4610,532,475.7878,240.72213,991.00122,861,136.52
byportfolio
Total185,064,552.6411,684,118.601,563,182.2778,240.72213,991.00195,321,239.25

Note:OthersrefertobaddebtprovisionaccruedfortheincreasedaccountsreceivableofBeijingAirtrustduetocombinationinthecurrentperiod.Ofwhich,baddebtprovisioncollectedorreversedwithsignificantamount:Naught.

(4)AccountsReceivablewithActualVerificationduringtheReportingPeriod

Unit:RMB

ItemAmountverified
Accountsreceivablewithactualverification78,240.72

Ofwhich,verificationofsignificantaccountsreceivable:Naught.Notestoverificationofaccountsreceivable:

TheamountofaccountsreceivablewrittenoffinthecurrentperiodwasRMB78,240.72,andthebaddebtprovisionwasRMB78,240.72.TheapprovalprocedurewasperformedinaccordancewithprovisionsofthebaddebtmanagementsystemoftheCompany.

(5)TopFiveAccountsReceivableandContractAssetsinEndingBalanceCollectedAccordingtotheArrearsParty

Unit:RMB

NameoftheentityEndingbalanceofaccountsreceivableEndingbalanceofcontractassetsEndingbalanceofaccountsreceivableandcontractassetsProportiontototalendingbalanceofaccountsreceivableandcontractassetsEndingbalanceofbaddebtprovisionofaccountsreceivableandimpairmentprovisionforcontractassets
No.1114,168,148.32114,168,148.324.68%3,425,044.45
No.2102,522,801.14102,522,801.144.20%3,075,684.03
No.389,508,216.1089,508,216.103.67%6,383,095.03
No.456,240,105.0056,240,105.002.30%1,794,826.93
No.555,114,971.2655,114,971.262.26%1,103,099.43
Total417,554,241.82417,554,241.8217.11%15,781,749.87

6.ContractAssets

(1)ListofContractAssets

Unit:RMB

ItemEndingbalanceBeginningbalance
CarryingamountBaddebtprovisionCarryingvalueCarryingamountBaddebtprovisionCarryingvalue
Contractassets2,253,362.601,126,681.301,126,681.303,380,043.901,690,021.951,690,021.95
Total2,253,362.601,126,681.301,126,681.303,380,043.901,690,021.951,690,021.95

(2)SignificantChangesintheAmountofCarryingValueandtheReasonintheReportingPeriodTherewasnosignificantchangeinthebookvalueduringtheReportingPeriod.

(3)DisclosurebyWithdrawalMethodsforBadDebts

Unit:RMB

CategoryEndingbalanceBeginningbalance
CarryingamountBaddebtprovisionCarryingvalueCarryingamountBaddebtprovisionCarryingvalue
AmountProportionAmountWithdrawalproportionAmountProportionAmountWithdrawalproportion
Baddebtprovisionaccruedseparately
Withdrawalofbaddebtprovisionbygroup2,253,362.60100.00%1,126,681.3050.00%1,126,681.303,380,043.90100.00%1,690,021.9550.00%1,690,021.95
Ofwhich:
Businessportfolioofgenerallightingandautolamps2,253,362.60100.00%1,126,681.3050.00%1,126,681.303,380,043.90100.00%1,690,021.9550.00%1,690,021.95
Total2,253,362.60100.00%1,126,681.3050.00%1,126,681.303,380,043.90100.00%1,690,021.9550.00%1,690,021.95

Withdrawalofbaddebtprovisionbygroup:Businessportfolioofgenerallightingandautolamps.

Unit:RMB

NameEndingbalance
CarryingamountBaddebtprovisionWithdrawalproportion
Businessportfolioofgenerallightingandautolamps2,253,362.601,126,681.3050.00%
Total2,253,362.601,126,681.30

Notes:

PleaserefertoNoteV-16.ContractAssetsWithdrawalofbaddebtprovisionbyadoptingthegeneralmodeofexpectedcreditloss

□Applicable?Notapplicable

(4)BadDebtProvisionWithdrawn,ReversedorRecoveredintheReportingPeriod

Unit:RMB

ItemWithdrawaloftheCurrentPeriodReversalorrecoveryintheReportingPeriodVerificationReason
Provisionforimpairmentofcontractassets-563,340.65
Total-563,340.65

Ofwhich,baddebtprovisioncollectedorreversedwithsignificantamount:Naught.

(5)ContractAssetsWritten-offinCurrentPeriodNaught.

7.AccountsReceivableFinancing

(1)AccountsReceivableFinancingListedbyCategory

Unit:RMB

ItemEndingbalanceBeginningbalance
Bankacceptancebill380,276,549.15352,694,866.89
Total380,276,549.15352,694,866.89

(2)DisclosurebyWithdrawalMethodsforBadDebtsNaught.ThebasisforthedivisionofeachphaseandthewithdrawalproportionofbaddebtprovisionPleaserefertoNoteV-13.AccountsReceivablefordetails.Explanationofsignificantchangesintheaccountsreceivablefinancingbookbalancewithchangesinlossreservesinthecurrentperiod:Naught

(3)BadDebtProvisionWithdrawal,ReversedorRecoveredintheCurrentPeriodNaught.

(4)AccountsReceivableFinancingPledgedbytheCompanyatthePeriod-end

Unit:RMB

ItemAmountpledgedattheperiod-end
Bankacceptancebill7,600,759.79
Total7,600,759.79

(5)AccountsReceivableFinancingWhichHadEndorsedbytheCompanyorHadDiscountedandHadnotDueontheBalanceSheetDateatthePeriod-end

Unit:RMB

ItemAmountofrecognitionterminationattheperiod-endAmountofnotrecognitionterminationattheperiod-end
Bankacceptancebill543,860,638.36
Total543,860,638.36

(6)AccountsReceivableFinancingwithActualVerificationfortheCurrentPeriodNaught.

(7)TheChangesofAccountsReceivableFinancingintheReportingPeriodandtheChangesinFairValueNaught.

(8)OtherNotesNaught.

8.OtherReceivables

Unit:RMB

ItemEndingbalanceBeginningbalance
Otherreceivables69,553,723.4770,524,265.25
Total69,553,723.4770,524,265.25

(1)InterestReceivableNaught.

(2)DividendsReceivableNaught.

(3)OtherReceivables

1)OtherReceivablesDisclosedbyAccountNature

Unit:RMB

NatureEndingcarryingbalanceBeginningcarryingbalance
Otherintercourse82,431,083.6877,640,342.04
Performancebond24,791,707.6225,244,600.82
Staffborrowandpettycash4,223,606.873,138,997.42
Rent,water&electricityfees1,837,756.791,314,614.82
VATexporttaxrefunds5,974,168.41
Total113,284,154.96113,312,723.51

2)DisclosurebyAging

Unit:RMB

AgeingEndingcarryingbalanceBeginningcarryingbalance
AgeingEndingcarryingbalanceBeginningcarryingbalance
Withinoneyear(includingoneyear)41,338,021.4951,110,555.10
Onetotwoyears30,283,306.9922,389,136.32
Twotothreeyears6,766,434.766,564,915.91
Overthreeyears34,896,391.7233,248,116.18
Threetofouryears2,690,801.701,383,400.01
Fourtofiveyears4,313,935.814,236,860.23
Overfiveyears27,891,654.2127,627,855.94
Total113,284,154.96113,312,723.51

3)DisclosurebyWithdrawalMethodsforBadDebts?Applicable□Notapplicable

Unit:RMB

CategoryEndingbalanceBeginningbalance
CarryingamountBaddebtprovisionCarryingvalueCarryingamountBaddebtprovisionCarryingvalue
AmountProportionAmountWithdrawalproportionAmountProportionAmountWithdrawalproportion
Baddebtprovisionseparatelyaccrued30,288,040.4626.74%30,288,040.46100.00%30,409,096.0426.84%30,409,096.04100.00%
Withdrawalofbaddebtprovisionbygroup82,996,114.5073.26%13,442,391.0316.20%69,553,723.4782,903,627.4773.16%12,379,362.2214.93%70,524,265.25
Amongwhich:
Otherreceivablesofbaddebtprovisionwithdrawnbycreditriskcharacteristicportfolio:82,996,114.5073.26%13,442,391.0316.20%69,553,723.4782,903,627.4773.16%12,379,362.2214.93%70,524,265.25
CategoryEndingbalanceBeginningbalance
CarryingamountBaddebtprovisionCarryingvalueCarryingamountBaddebtprovisionCarryingvalue
AmountProportionAmountWithdrawalproportionAmountProportionAmountWithdrawalproportion
Total113,284,154.96100.00%43,730,431.4938.60%69,553,723.47113,312,723.51100.00%42,788,458.2637.76%70,524,265.25

Categorynameofbaddebtprovisionaccruedbyitem:Baddebtprovisionseparatelyaccrued.Significantaccountsreceivableforwhichbaddebtsareaccruedseparately:

Unit:RMB

NameBeginningbalanceEndingbalance
CarryingamountProvisionforimpairmentCarryingamountBaddebtprovisionWithdrawalproportionReasonforwithdrawal
CustomerA20,000,000.0020,000,000.0020,000,000.0020,000,000.00100.00%Lesslikelytoberecovered
Total20,000,000.0020,000,000.0020,000,000.0020,000,000.00

Withdrawalofbaddebtprovisionbygroup:Otherreceivablesofbaddebtprovisionwithdrawnbycreditriskcharacteristicportfolio.

Unit:RMB

NameEndingbalance
CarryingamountBaddebtprovisionWithdrawalproportion
Otherreceivablesofbaddebtprovisionwithdrawnbycreditriskcharacteristicportfolio82,996,114.5013,442,391.0316.20%
Total82,996,114.5013,442,391.03

Notes:

PleaserefertoNoteV-13.AccountsReceivablefordetails.Withdrawalofbaddebtprovisionbyadoptingthegeneralmodeofexpectedcreditloss:

Unit:RMB

BaddebtprovisionPhaseIPhaseIIPhaseIIITotal
Expectedcreditlossofthenext12monthsExpectedlossintheduration(creditimpairmentnotoccurred)Expectedlossintheduration(creditimpairmentoccurred)
BalanceofJanuary1,20251,522,971.9010,819,330.4730,446,155.8942,788,458.26
BalanceofJanuary1,2025inthecurrentperiod
Withdrawalofthecurrentperiod-333,607.191,353,073.06-121,055.58898,410.29
Amountwritten-offforthecurrentperiod31,213.8912,349.0543,562.94
BalanceofJune30,20251,220,578.6012,184,752.5830,325,100.3143,730,431.49

ThebasisforthedivisionofeachphaseandthewithdrawalproportionofbaddebtprovisionPleaserefertoNoteV-13.AccountsReceivablefordetails.Changesofcarryingamountwithsignificantamountchangedoflossprovisioninthecurrentperiod

□Applicable?Notapplicable

4)BadDebtProvisionWithdrawn,ReversedorRecoveredintheReportingPeriodInformationofbaddebtprovisionwithdrawn:

Unit:RMB

CategoryBeginningbalanceChangesintheReportingPeriodEndingbalance
WithdrawalReversalorrecoveryCharged-off/Written-offOthers
Otherreceivables42,788,458.26898,410.2943,562.9443,730,431.49
Total42,788,458.26898,410.2943,562.9443,730,431.49

OfwhichthebaddebtprovisionreversedorrecoveredwithsignificantamountduringtheReportingPeriod:

Naught.

5)ParticularsoftheActualVerificationofOtherReceivablesduringtheReportingPeriodNaught.

6)Top5oftheEndingBalanceoftheOtherReceivablesCollectedaccordingtotheArrearsParty

Unit:RMB

NameoftheentityNatureEndingbalanceAgeingProportiontototalendingbalanceofotherreceivables(%)Endingbalanceofbaddebtprovision
No.1Otherintercourse20,000,000.00Overfiveyears17.65%20,000,000.00
No.2Otherintercourse15,883,375.00Withintwoyears14.02%1,588,337.50
No.3Otherintercourse14,840,849.57Withinoneyear13.10%445,225.49
No.4VATexporttaxrefunds10,000,000.00Withintwoyears8.83%1,000,000.00
No.5Performancebond5,000,000.00Withinthreeyears4.41%5,000,000.00
Total65,724,224.5758.01%28,033,562.99

7)PresentationinOtherReceivablesDuetotheCentralizedManagementofFundNaught.

9.Prepayments

(1)ListedbyAging

Unit:RMB

AgeingEndingbalanceBeginningbalance
AmountProportionAmountProportion
Withinoneyear24,889,681.7876.09%18,587,036.8576.11%
Onetotwoyears3,300,051.2810.09%2,101,361.078.61%
Twotothreeyears2,540,825.577.77%1,640,558.436.72%
Overthreeyears1,980,342.776.05%2,090,822.778.56%
Total32,710,901.4024,419,779.12

Notesofthereasonsoftheprepaymentagingoveroneyearwithsignificantamountbutfailedsettledintime:

Naught.

(2)TopFiveoftheEndingBalanceofthePrepaymentsCollectedaccordingtothePrepaymentTarget

Unit:RMB

NameoftheentityRelationshipwiththeCompanyEndingbalanceAgeingProportiontototalprepayments(%)
No.1Unrelatedparty2,192,566.06Withinfouryears6.70%
No.2Unrelatedparty2,024,786.17Withinoneyear6.19%
No.3Unrelatedparty1,080,492.13Withinoneyear3.30%
No.4Unrelatedparty961,670.98Withinoneyear2.94%
No.5Unrelatedparty814,300.00Withinoneyear2.49%
Total7,073,815.3421.62%

10.InventoryWhethertheCompanyneedstocomplywithdisclosurerequirementsforrealestateindustryNo

(1)CategoryofInventory

Unit:RMB

ItemEndingbalanceBeginningbalance
CarryingamountFallingpricereservesofinventoryordepreciationreservesofcontractperformancecostCarryingvalueCarryingamountFallingpricereservesofinventoryordepreciationreservesofcontractperformancecostCarryingvalue
Rawmaterials340,191,533.7821,940,374.41318,251,159.37314,930,694.7722,535,048.55292,395,646.22
Goodsinprocess213,986,865.68213,986,865.68229,665,213.27229,665,213.27
Inventorygoods1,252,833,891.25139,671,260.731,113,162,630.521,249,130,700.18126,346,042.261,122,784,657.92
ItemEndingbalanceBeginningbalance
CarryingamountFallingpricereservesofinventoryordepreciationreservesofcontractperformancecostCarryingvalueCarryingamountFallingpricereservesofinventoryordepreciationreservesofcontractperformancecostCarryingvalue
Goodsintransit273,854,319.481,039,688.86272,814,630.62291,148,176.1127,816,444.67263,331,731.44
Semi-finishedgoods103,588,159.962,638,690.27100,949,469.69103,638,782.422,492,313.51101,146,468.91
Low-valueconsumables2,637,603.962,637,603.961,515,044.741,515,044.74
Others3,955,089.243,955,089.2414,660,598.8814,660,598.88
Total2,191,047,463.35165,290,014.272,025,757,449.082,204,689,210.37179,189,848.992,025,499,361.38

(2)DataResourcesRecognizedasInventoryNaught.

(3)FallingPriceReservesofInventoryandDepreciationReservesofContractPerformanceCost

Unit:RMB

ItemBeginningbalanceIncreaseDecreaseEndingbalance
WithdrawalOthersReversalorwrite-offOthers
Rawmaterials22,535,048.55676,683.671,271,357.8121,940,374.41
Inventorygoods126,346,042.2622,805,561.009,480,342.53139,671,260.73
Goodsintransit27,816,444.67494,490.5827,271,246.391,039,688.86
Semi-finishedgoods2,492,313.51146,376.762,638,690.27
Total179,189,848.9924,123,112.0138,022,946.73165,290,014.27

Note:Intheamountreversedorchargedoffinthecurrentperiod,theamountreversedwasRMB1,778,010.83,andtheamountchargedoffwasRMB36,244,935.90.ProvisionfordepreciationinvalueofinventoriesbyportfolioNaught.ProvisionstandardsfordepreciationinvalueofinventoriesbygroupPleaserefertoNoteV-17.Inventory.

(4)NotestotheEndingBalanceofInventoriesIncludingCapitalizedBorrowingExpenseNaught

(5)AmortizationAmountofContractPerformanceCostduringtheReportingPeriodNaught

11.Held-for-SaleAssets

Unit:RMB

ItemEndingcarryingbalanceDepreciationreservesEndingcarryingvalueFairvalueEstimateddisposalexpenseEstimateddisposaltime
Houses,buildingsandlandinvolvedinexpropriation17,147,339.8417,147,339.84165,208,303.0055,718,333.95December31,2025
Total17,147,339.8417,147,339.84165,208,303.0055,718,333.95

Othernotes:

Note:Fordetails,seePartVIII-XVIII.OtherMajorEvents-8.Other:“DemolitionMattersofNanjingFozhao”ofthisReport.Theestimateddisposalcostsincludeemployeeresettlementfees,compensationfortheterminationoftheoriginaltenant’scontract,andtaxesrelatedtotheproceedsofdemolition.

12.CurrentPortionofNon-currentAssetsNaught.

13.OtherCurrentAssets

Unit:RMB

ItemEndingbalanceBeginningbalance
InputtaxofVATtobecertifiedanddeducted130,072,096.20125,298,564.45
Large-valuebankcertificatesofdeposit281,243,990.34130,975,312.95
Advancepaymentofenterpriseincometax1,544,945.992,524,237.91
Others1,965,878.032,486,661.54
Total414,826,910.56261,284,776.85

14.InvestmentsinDebtObligationsNaught

15.OtherInvestmentsinDebtObligations

(1)ListofOtherInvestmentsinDebtObligations

Unit:RMB

ItemBeginningbalanceAccruedinterestInterestadjustmentChangeinfairvalueintheReportingPeriodEndingbalanceCostAccumulatedchangesinfairvalueAccumulatedimpairmentprovisionrecognizedinothercomprehensiveincomeNote
Purchaseheld-to-maturityinvestmentsin2023417,634,469.186,021,698.99423,656,168.17400,000,000.00Largedepositcertificateofabank
Purchaseheld-to-maturityinvestmentsin2024722,388,394.549,273,150.68731,661,545.22707,000,000.00Largedepositcertificateofabank
Total1,140,022,863.7215,294,849.671,155,317,713.391,107,000,000.00

ChangesintheimpairmentprovisionforotherinvestmentsindebtobligationsduringthecurrentperiodNaught.

(2)SignificantOtherInvestmentsinDebtObligationsatthePeriod-end

Unit:RMB

ItemEndingbalanceBeginningbalance
ParvalueCouponrateActualinterestrateMaturitydateOverdueprincipalParvalueCouponrateActualinterestrateMaturitydateOverdueprincipal
LargedepositcertificateofEverbrightBank100,000,000.003.30%3.30%January6,2026100,000,000.003.30%3.30%January6,2026
LargedepositcertificateofBankofCommunications50,000,000.002.90%2.90%August31,202650,000,000.002.90%2.90%August31,2026
LargedepositcertificateofEverbrightBank100,000,000.002.90%2.90%November3,2026100,000,000.002.90%2.90%November3,2026
LargedepositcertificateofBankofGuangzhou150,000,000.002.95%2.95%December1,2026150,000,000.002.95%2.95%December1,2026
LargedepositcertificateofBankofGuangzhou212,000,000.002.75%2.75%February5,2027212,000,000.002.75%2.75%February5,2027
LargedepositcertificateofEverbrightBank55,000,000.002.60%2.60%February5,202755,000,000.002.60%2.60%February5,2027
LargedepositcertificateofHuaxiaBank143,000,000.002.60%2.60%February5,2027143,000,000.002.60%2.60%February5,2027
LargedepositcertificateofChina82,000,000.002.60%2.60%February5,202782,000,000.002.60%2.60%February5,2027
ItemEndingbalanceBeginningbalance
ParvalueCouponrateActualinterestrateMaturitydateOverdueprincipalParvalueCouponrateActualinterestrateMaturitydateOverdueprincipal
MerchantsBank
LargedepositcertificateofHuaxiaBank150,000,000.002.60%2.60%March8,2027150,000,000.002.60%2.60%March8,2027
LargedepositcertificateofChinaMerchantsBank35,000,000.002.60%2.60%March29,202735,000,000.002.60%2.60%March29,2027
LargedepositcertificateofChinaMerchantsBank30,000,000.002.60%2.60%April30,202730,000,000.002.60%2.60%April30,2027
Total1,107,000,000.001,107,000,000.00

(3)StatusofAccruedDepreciationReservesNaught.ThebasisforthedivisionofeachphaseandthewithdrawalproportionofbaddebtprovisionPleaserefertoNoteV-20.OtherDebtInvestments.

(4)StatusofOtherInvestmentsinDebtObligationsWritten-offinCurrentPeriodNaught.

16.OtherEquityInstrumentInvestments

Unit:RMB

NameofprojectBeginningbalanceGainsrecordedinothercomprehensiveincomeinthecurrentperiodLossesrecordedinothercomprehensiveincomeinthecurrentperiodAccumulativegainsrecordedinothercomprehensiveincomeinthecurrentperiodAccumulativelossesrecordedinothercomprehensiveincomeinthecurrentperiodDividendincomerecognizedincurrentyearEndingbalanceReasonforassigningtomeasureinfairvalueandthechangesincludedinothercomprehensiveincome
GotionHigh-techCo.,Ltd.363,579,045.02186,135,432.31264,486,123.71310,890,551.46Equityinstrumentsnotheldfortrading
XiamenBankCo.,Ltd.323,502,024.6065,962,292.25236,506,710.029,177,362.40389,464,316.85Equityinstrumentsnotheldfortrading
ChinaGuangfaBankCo.,Ltd.500,000.0072,432.86500,000.00Equityinstrumentsnotheldfortrading
FoshanNanhaiDistrictUnitedGuangdongNewLightSourceIndustryInnovationCenter3,000,000.003,000,000.00Equityinstrumentsnotheldfortrading
BeijingGuangrongLianmengSemiconductorLightingIndustryInvestmentCenter6,082,543.806,082,543.80Equityinstrumentsnotheldfortrading
NameofprojectBeginningbalanceGainsrecordedinothercomprehensiveincomeinthecurrentperiodLossesrecordedinothercomprehensiveincomeinthecurrentperiodAccumulativegainsrecordedinothercomprehensiveincomeinthecurrentperiodAccumulativelossesrecordedinothercomprehensiveincomeinthecurrentperiodDividendincomerecognizedincurrentyearEndingbalanceReasonforassigningtomeasureinfairvalueandthechangesincludedinothercomprehensiveincome
(L.P.)
GuangdongRisingFinanceCo.,Ltd.30,000,000.00477,925.4130,000,000.00Equityinstrumentsnotheldfortrading
RisingBaijianwanHigh-QualityDevelopmentIndustryInvestmentFundPartnership(LimitedPartnership)7,320,000.00Equityinstrumentsnotheldfortrading
Total726,663,613.42252,097,724.56500,992,833.739,727,720.67747,257,412.11

DerecognitioninthecurrentperiodNaught.Disclosureofnon-tradingequityinstrumentinvestmentbyitems

Unit:RMB

NameofprojectDividendincomerecognizedAccumulativegainsAccumulativelossesAmountofothercomprehensiveincometransferredtoretainedearningsReasonforassigningtomeasureinfairvalueandthechangesincludedinothercomprehensiveincomeReasonforothercomprehensiveincometransferredtoretainedearnings
GotionHigh-techCo.,Ltd.264,486,123.71171,881,788.23NotsatisfiedwiththeconditionoftradingequityinstrumentSalesofshares
XiamenBankCo.,Ltd.9,177,362.40236,506,710.02NotsatisfiedwiththeconditionoftradingequityinstrumentNotapplicable
BeijingGuangrongLianmengSemiconductorLightingIndustryInvestmentCenter(L.P.)1,505,569.32NotsatisfiedwiththeconditionoftradingequityinstrumentNotapplicable
GuangdongRisingFinanceCo.,Ltd.477,925.411,122,913.74NotsatisfiedwiththeconditionoftradingequityinstrumentNotapplicable
Total9,655,287.81503,621,316.79171,881,788.23

Othernotes:

1.NationStarOptoelectronicsisalimitedpartnerofBeijingGuangrongLianmengSemiconductorLightingIndustryInvestmentCenter(LimitedPartnership).AsatJune30,2025,NationStarOptoelectronicshasreceivedatotaldistributionofprincipalandinterestamountingtoRMB5,423,025.52fromBeijingGuangrongLianmengSemiconductorLightingIndustryInvestmentCenter(LimitedPartnership).TheaccumulatedprincipalrepaidisRMB3,917,456.20.Afterpartialrecoveryoftheinvestment,NationStarOptoelectronicsholdsa3.98%equitystakeinthepartnership.

2.NationStarOptoelectronicsisalimitedpartnerinGuangdongRisingBaiqianwanHigh-QualityDevelopmentIndustryInvestmentFundPartnership(LimitedPartnership),holdinga2.24%stake,correspondingtoasubscribedcapitalcontributionofRMB11.2million.AsofJune30,2025,NationStarOptoelectronicshadpaidinRMB7.32million.

17.Long-termReceivablesNaught.

18.Long-termEquityInvestment

Unit:RMB

InvesteeBeginningbalance(carryingvalue)BeginningbalanceofimpairmentprovisionIncrease/decreaseEndingbalance(carryingvalue)Endingbalanceofimpairmentprovision
AdditionalinvestmentReducedinvestmentGainsandlossesrecognizedundertheequitymethodAdjustmentofothercomprehensiveincomeChangesofotherequityCashbonusorprofitsannouncedtoissueWithdrawalofimpairmentprovisionOthers
I.JointVentures
II.AssociatedEnterprises
ShenzhenPrimatronix(Nanho)ElectronicsLtd.180,300,594.89646,719.77180,947,314.66
Sub-total180,300,594.89646,719.77180,947,314.66
Total180,300,594.89646,719.77180,947,314.66

Therecoverableamountisdeterminedbasedonthenetamountofthefairvalueminusdisposalcosts

□Applicable?NotapplicableTherecoverableamountisdeterminedbythepresentvalueoftheexpectedfuturecashflow

□Applicable?NotapplicableThereasonforthediscrepancybetweentheforegoinginformationandtheinformationusedintheimpairmenttestsinprioryearsorexternalinformationNaught.ThereasonforthediscrepancybetweentheinformationusedintheCompany’simpairmenttestsinprioryearsandtheactualsituationofthoseyearsNaught.

19.OtherNon-currentFinancialAssetsNaught.

20.InvestmentProperty

(1)InvestmentPropertyAdoptingtheCostMeasurementMode?Applicable□Notapplicable

Unit:RMB

ItemHousesandbuildingsLanduserightConstructioninProgressTotal
I.Originalcarryingvalue
1.Beginningbalance822,894,661.9361,486,213.33884,380,875.26
2.Increasedamountoftheperiod53,799,926.8453,799,926.84
(1)Outsourcing
(2)Transferfrominventories/fixedassets/constructioninprogress53,799,926.8453,799,926.84
(3)Increaseforbusinesscombination
3.Decreasedamountoftheperiod503,561.13503,561.13
(1)Disposal
ItemHousesandbuildingsLanduserightConstructioninProgressTotal
(2)Othertransfer503,561.13503,561.13
4.Endingbalance876,191,027.6461,486,213.33937,677,240.97
II.Accumulativedepreciationandaccumulativeamortization
1.Beginningbalance77,917,683.1012,976,146.1490,893,829.24
2.Increasedamountoftheperiod17,913,167.151,108,124.7319,021,291.88
(1)Withdrawaloramortization16,011,084.841,108,124.7317,119,209.57
(2)Transferfrominventories/fixedassets/constructioninprogress1,902,082.311,902,082.31
3.Decreasedamountoftheperiod121,873.78121,873.78
(1)Disposal
(2)Othertransfer121,873.78121,873.78
4.Endingbalance95,708,976.4714,084,270.87109,793,247.34
III.Depreciationreserves
1.Beginningbalance
2.Increasedamountoftheperiod
(1)Withdrawal
3.Decreasedamountoftheperiod
(1)Disposal
(2)Othertransfer
ItemHousesandbuildingsLanduserightConstructioninProgressTotal
4.Endingbalance
IV.Carryingvalue
1.Endingcarryingvalue780,482,051.1747,401,942.46827,883,993.63
2.Beginningcarryingvalue744,976,978.8348,510,067.19793,487,046.02

Therecoverableamountisdeterminedbasedonthenetamountofthefairvalueminusdisposalcosts

□Applicable?NotapplicableTherecoverableamountisdeterminedbythepresentvalueoftheexpectedfuturecashflow

□Applicable?NotapplicableThereasonforthediscrepancybetweentheforegoinginformationandtheinformationusedintheimpairmenttestsinprioryearsorexternalinformationNaught.ThereasonforthediscrepancybetweentheinformationusedintheCompany’simpairmenttestsinprioryearsandtheactualsituationofthoseyearsNaught.

(2)InvestmentPropertyAdoptingtheFairValueMeasurementMode

□Applicable?Notapplicable

(3)ProjectsConvertedtoInvestmentPropertiesandMeasuredatFairValueNaught.

(4)InvestmentPropertyFailedtoAccomplishCertificationofPropertyAsatDecember2025,therelevantpropertycertificatesfortheLEDWorkshop,R&DWorkshop18,someHainanFuliparkingspaces,andtheleasedportionoftheHainanproductionbasearestillinprogress.TheCompanybelievesthatobtainingsuchpropertycertificatesisnotsubjecttoanysubstantivelegalobstaclesandhasnosignificantadverseimpactontheCompany’snormaloperations.

21.FixedAssets

Unit:RMB

ItemEndingbalanceBeginningbalance
Fixedassets3,571,748,769.663,646,134,662.80
Disposaloffixedassets526,992.02459,543.24
Total3,572,275,761.683,646,594,206.04

(1)ListofFixedAssets

Unit:RMB

ItemBuildingsandstructuresMachineryequipmentTransportationequipmentElectronicequipmentOther(Note1)Total
I.Originalcarryingvalue
1.Beginningbalance2,446,766,384.145,356,958,204.9441,393,466.7682,849,592.2699,370,685.948,027,338,334.04
2.Increasedamountoftheperiod25,094,628.33154,385,555.00495,044.254,310,575.632,386,563.79186,672,367.00
(1)Purchase24,326,613.9918,388,373.99495,044.253,285,319.53447,132.7346,942,484.49
(2)TransferfromConstructioninprogress218,383.68135,568,512.16877,629.201,896,971.37138,561,496.41
(3)Increaseforbusinesscombination147,626.90147,626.90
(4)Other(Note2)549,630.66428,668.8542,459.691,020,759.20
3.Decreasedamountoftheperiod7,558,964.373,599,608.526,327.53492,852.54506,308.7212,164,061.68
(1)Disposalorscrap24,254.783,504,923.582,669.4721,589.00452,239.424,005,676.25
(2)Equipmenttransformation51,282.0551,282.05
(3)Other(Note2)7,534,709.5994,684.943,658.06471,263.542,787.258,107,103.38
4.Endingbalance2,464,302,048.105,507,744,151.4241,882,183.4886,667,315.35101,250,941.018,201,846,639.36
II.Accumulated
ItemBuildingsandstructuresMachineryequipmentTransportationequipmentElectronicequipmentOther(Note1)Total
amortization
1.Beginningbalance722,456,586.963,482,012,719.2829,416,209.2659,344,753.7279,591,132.164,372,821,401.38
2.Increasedamountoftheperiod55,795,012.28189,649,936.181,733,624.945,325,667.392,672,338.12255,176,578.91
(1)Withdrawal55,673,138.50189,242,700.731,733,624.945,231,533.422,632,001.41254,512,999.00
(2)Increaseforbusinesscombination94,133.9794,133.97
(3)Other(Note2)121,873.78407,235.4540,336.71569,445.94
3.Decreasedamountoftheperiod1,936,895.053,372,740.413,621.48468,647.14500,476.376,282,380.45
(1)Disposalorscrap14,807.543,336,481.4320,941.33446,947.773,819,178.07
(2)Equipmenttransformation50,769.2350,769.23
(3)Other(Note2)1,922,087.5136,258.983,621.48447,705.812,759.372,412,433.15
4.Endingbalance776,314,704.193,668,289,915.0531,146,212.7264,201,773.9781,762,993.914,621,715,599.84
III.Depreciationreserves
1.Beginningbalance8,375,870.553,454.522,944.798,382,269.86
2.Increasedamountoftheperiod
(1)Withdrawal
3.Decreasedamountofthe
ItemBuildingsandstructuresMachineryequipmentTransportationequipmentElectronicequipmentOther(Note1)Total
period
(1)Disposalorscrap
4.Endingbalance8,375,870.553,454.522,944.798,382,269.86
IV.Carryingvalue
1.Endingcarryingvalue1,687,987,343.911,831,078,365.8210,735,970.7622,462,086.8619,485,002.313,571,748,769.66
2.Beginningcarryingvalue1,724,309,797.181,866,569,615.1111,977,257.5023,501,384.0219,776,608.993,646,134,662.80

Note1:FixedAssets-OtherrefertocoolingsystemandsewagetreatmentstationofNationStarOptoelectronicsandinstrumentsandimplementofLiaowangAutoLamp.Note2:Changesintheoriginalcarryingvalueandaccumulatedamortizationaremainlyduetotheadditionofancillaryfacilitiestobuildingsandstructures,reclassificationsbetweeninvestmentpropertyandfixedassetsduetochangesinbuildingusageduringthecurrentperiod,andoutwardtransferofinputVATduringthecurrentperiod.

(2)ListofTemporarilyIdleFixedAssetsNaught.

(3)FixedAssetsLeasedoutbyOperationLeaseNaught.

(4)FixedAssetsFailedtoAccomplishCertificationofPropertyOthernotes:

TheCompany’sFuwanEnergySavingLampWorkshop2,GlassWorkshop8,GlassWorkshop9,FluorescentLampWorkshop,StandardWorkshopA,HainanProductionBase(self-usepart),FuwanEmployeeVillageFamilyDormitoryBuildings2-6,FamilyDormitoryBuilding8,FuwanIndustrialParkEmployeeVillageDormitoryBuildings01-04,FuwanEmployeeVillageDormitoryBuildingsA,2,3,5,6,7,10to13,andEmployeeApartmentBuildings1-4havebeencompletedandputintouseandcarriedforwardfixedassets.AsatJune30,2025,therelevantpropertycertificatesarestillinprogress.TheCompanybelievesthatobtainingsuchpropertycertificatesisnotsubjecttoanysubstantivelegalobstaclesandhasnosignificantadverseimpactontheCompany’snormaloperations.

(5)ImpairmentTestofFixedAssets

□Applicable?Notapplicable

(6)ProceedsfromDisposalofFixedAssets

Unit:RMB

ItemEndingbalanceBeginningbalance
Equipment526,992.02459,543.24
Total526,992.02459,543.24

22.ConstructioninProgress

Unit:RMB

ItemEndingbalanceBeginningbalance
Constructioninprogress293,945,488.06263,601,705.89
Total293,945,488.06263,601,705.89

(1)ListofConstructioninProgress

Unit:RMB

ItemEndingbalanceBeginningbalance
CarryingamountDepreciationreservesCarryingvalueCarryingamountDepreciationreservesCarryingvalue
Constructioninprogress295,540,307.201,594,819.14293,945,488.06265,196,525.031,594,819.14263,601,705.89
Total295,540,307.201,594,819.14293,945,488.06265,196,525.031,594,819.14263,601,705.89

(2)ChangesinSignificantConstructioninProgressduringtheReportingPeriod

Unit:RMB

NameofprojectBudgetBeginningbalanceIncreasedamountTransferredinfixedassetsOtherdecreasedamountsEndingbalanceProportionofaccumulativeinvestmentinconstructionstobudgetJobscheduleAccumulativeamountofinterestcapitalizationOfwhich:AmountofcapitalisedinterestsfortheReportingPeriodCapitalizationrateofinterestsfortheReportingPeriodCapitalresources
TheProject1,714,546,70203,811,312.45120,379,063.75,605,828.6111,187,154.31237,397,393.45.40%45.40%645,610.61Self-financing
NameofprojectBudgetBeginningbalanceIncreasedamountTransferredinfixedassetsOtherdecreasedamountsEndingbalanceProportionofaccumulativeinvestmentinconstructionstobudgetJobscheduleAccumulativeamountofinterestcapitalizationOfwhich:AmountofcapitalisedinterestsfortheReportingPeriodCapitalizationrateofinterestsfortheReportingPeriodCapitalresources
oftheGeelyIndustrialPark0.008841andborrowing
Total1,714,546,700.00203,811,312.45120,379,063.8875,605,828.6111,187,154.31237,397,393.41645,610.61

(3)ListoftheWithdrawaloftheDepreciationReservesforConstructioninProgressNaught.

(4)ImpairmentTestofConstructioninProgress

□Applicable?Notapplicable

(5)EngineeringMaterialsNaught.

23.ProductiveLivingAssetsNaught.

24.OilandGasAssetsNaught.

25.Right-of-useAssets

(1)ListofRight-of-useAssets

Unit:RMB

ItemHousesandbuildingsMachineryequipmentOtherTotal
I.Originalcarryingvalue
1.Beginningbalance31,539,171.101,096,398.9675,471.7032,711,041.76
ItemHousesandbuildingsMachineryequipmentOtherTotal
2.Increasedamountoftheperiod1,249,716.671,249,716.67
(1)Leasedin1,249,716.671,249,716.67
3.Decreasedamountoftheperiod1,054,446.311,054,446.31
(1)Disposal1,054,446.311,054,446.31
4.Endingbalance31,734,441.461,096,398.9675,471.7032,906,312.12
II.Accumulatedamortization
1.Beginningbalance9,940,040.61383,976.6444,025.1710,368,042.42
2.Increasedamountoftheperiod5,099,604.70274,099.7418,867.905,392,572.34
(1)Withdrawal5,099,604.70274,099.7418,867.905,392,572.34
3.Decreasedamountoftheperiod994,263.36994,263.36
(1)Disposal994,263.36994,263.36
4.EndingBalance14,045,381.95658,076.3862,893.0714,766,351.40
III.Depreciationreserves
1.Beginningbalance
2.Increasedamountoftheperiod
(1)Withdrawal
3.Decreasedamountoftheperiod
(1)Disposal
4.Endingbalance
IV.Carryingvalue
1.Endingcarryingvalue17,689,059.51438,322.5812,578.6318,139,960.72
2.Beginningcarryingvalue21,599,130.49712,422.3231,446.5322,342,999.34

(2)ImpairmentTestofRight-of-useAssets

□Applicable?Notapplicable

26.IntangibleAssets

(1)ListofIntangibleAssets

Unit:RMB

ItemLanduserightPatentNon-patenttechnologySoftwareTrademarkOther(Note)Total
I.Originalcarryingvalue
1.Beginningbalance369,823,060.6338,099,524.8682,321,557.7827,020,000.003,470,000.00520,734,143.27
2.Increasedamountoftheperiod5,001,661.272,950,600.007,952,261.27
(1)Purchase5,001,661.275,001,661.27
(2)InternalR&D
(3)Increaseforbusinesscombination2,950,600.002,950,600.00
3.Decreasedamountoftheperiod1,547.171,547.17
(1)Disposal
(2)Other1,547.171,547.17
4.Endingbalance369,823,060.6338,097,977.6987,323,219.0529,970,600.003,470,000.00528,684,857.37
II.Accumulatedamortization
1.Beginningbalance72,311,396.3025,018,656.5033,546,324.781,125,833.35144,583.35132,146,794.28
2.Increasedamountoftheperiod3,858,565.32994,694.776,389,503.871,400,176.69173,500.0212,816,440.67
(1)Withdrawal3,858,565.32994,694.776,389,503.871,400,176.69173,500.0212,816,440.67
3.Decreasedamountoftheperiod180.53180.53
ItemLanduserightPatentNon-patenttechnologySoftwareTrademarkOther(Note)Total
(1)Disposal
(2)Other180.53180.53
4.Endingbalance76,169,961.6226,013,170.7439,935,828.652,526,010.04318,083.37144,963,054.42
III.Depreciationreserves
1.Beginningbalance
2.Increasedamountoftheperiod
(1)Withdrawal
3.Decreasedamountoftheperiod
(1)Disposal
4.Endingbalance
IV.Carryingvalue
1.Endingcarryingvalue293,653,099.0112,084,806.9547,387,390.4027,444,589.963,151,916.63383,721,802.95
2.Beginningcarryingvalue297,511,664.3313,080,868.3648,775,233.0025,894,166.653,325,416.65388,587,348.99

Note:IntangibleAssets—“Other”mainlyreferstosoftwarecopyrights.TheproportionofintangibleassetsformedfromtheinternalR&DoftheCompanyattheperiod-endtotheendingbalanceofintangibleassetswas0.00%.

(2)DataResourcesRecognizedasIntangibleAssetsNaught.

(3)LandUseRightwithCertificateofTitleUncompletedNaught.

(4)ImpairmentTestofIntangibleAssets

□Applicable?Notapplicable

27.Goodwill

(1)OriginalCarryingValueofGoodwill

Unit:RMB

NameoftheinvestedunitsoreventsgeneratinggoodwillBeginningbalanceIncreaseDecreaseEndingbalance
FormedbybusinesscombinationDisposal
FoshanNationStarOptoelectronicsCo.,Ltd.405,620,123.64405,620,123.64
NanningLiaowangAutoLampCo.,Ltd.16,211,469.8216,211,469.82
BeijingAirtrustAviationTechnologyCo.,Ltd.125,552.07125,552.07
Total421,831,593.46125,552.07421,957,145.53

(2)GoodwillImpairmentProvisions

Unit:RMB

NameoftheinvestedunitsoreventsgeneratinggoodwillBeginningbalanceIncreaseDecreaseEndingbalance
WithdrawalDisposal
FoshanNationStarOptoelectronicsCo.,Ltd.142,393,052.68142,393,052.68
Total142,393,052.68142,393,052.68

28.Long-termPrepaidExpense

Unit:RMB

ItemBeginningbalanceIncreasedamountAmortizationamountoftheperiodOtherdecreasedamountEndingbalance
Mould180,708,464.3348,318,682.1331,204,596.7021,037,782.33176,784,767.43
Expenseonmaintenanceanddecoration64,783,900.7217,911,930.9314,674,584.461,723.4668,019,523.73
Boardingbox313,010.00103,633.88209,376.12
Others7,219,120.773,389,160.582,004,605.788,603,675.57
Total253,024,495.8269,619,773.6447,987,420.8221,039,505.79253,617,342.85

OthernotesOtherdecreaseamountwasmainlyduetothedisposalofmolds

29.DeferredIncomeTaxAssets/DeferredIncomeTaxLiabilities

(1)DeferredIncomeTaxAssetsthathadnotBeenOff-set

Unit:RMB

ItemEndingbalanceBeginningbalance
DeductibletemporarydifferenceDeferredincometaxassetsDeductibletemporarydifferenceDeferredincometaxassets
Provisionforimpairmentofassets453,198,893.3069,193,986.12437,165,619.6566,540,210.84
Unrealizedprofitofinternaltransactions47,409,166.207,111,374.9367,232,648.5710,084,897.28
Deductibleloss222,913,091.7336,729,051.10205,026,280.4733,375,483.69
Depreciationoffixedassets41,027,390.876,154,108.6345,661,228.346,849,184.25
Accruedliabilities26,914,403.374,037,160.5027,430,683.824,114,602.59
Changesinthefairvalueoftradingfinancialassets368,641.0255,296.15636,322.3195,448.35
Estimatedexpense77,864,074.8112,884,866.4159,384,034.048,907,605.11
Leaseliabilitiesandothers31,915,351.065,389,296.1934,868,832.745,980,792.80
Total901,611,012.36141,555,140.03877,405,649.94135,948,224.91

(2)DeferredIncomeTaxLiabilitiesHadnotBeenOff-set

Unit:RMB

ItemEndingbalanceBeginningbalance
TaxabletemporarydifferenceDeferredincometaxliabilitiesTaxabletemporarydifferenceDeferredincometaxliabilities
Assetsassessmentappreciationfrombusinessconsolidationnotunderthesamecontrol146,948,206.7322,188,702.59151,028,108.5122,654,216.26
Changesinfairvalueofotherinvestmentsinequityinstruments495,142,833.7274,271,425.06445,258,977.6566,788,846.65
Changesinthefairvalueoftradingfinancialassets1,043,668.13156,550.22736,537.65110,480.65
One-offdepreciationoffixedassets594,843,119.8189,226,467.98615,396,814.1092,309,522.12
Right-of-useassetsandothers18,771,766.873,461,029.5622,342,999.384,058,203.61
Total1,256,749,595.26189,304,175.411,234,763,437.29185,921,269.29

(3)DeferredIncomeTaxAssetsorLiabilitiesListedbyNetAmountafterOff-set

Unit:RMB

ItemMutualset-offamountofdeferredincometaxassetsandliabilitiesattheperiod-endAmountofdeferredincometaxassetsorliabilitiesafteroff-setattheperiod-endMutualset-offamountofdeferredincometaxassetsandliabilitiesattheperiod-beginAmountofdeferredincometaxassetsorliabilitiesafteroff-setattheperiod-begin
Deferredincometaxassets141,555,140.03135,948,224.91
Deferredincometaxliabilities189,304,175.41185,921,269.29

(4)ListofUnrecognizedDeferredIncomeTaxAssetsNaught.

(5)DeductibleLossesofUnrecognizedDeferredIncomeTaxAssetswillDueintheFollowingYearsNaught.

30.OtherNon-currentAssets

Unit:RMB

ItemEndingbalanceBeginningbalance
CarryingamountDepreciationreservesCarryingvalueCarryingamountDepreciationreservesCarryingvalue
Contractassets467,940.8433,626.88434,313.96389,288.9520,492.17368,796.78
Long-termassetstobedisposed165,522,692.24165,522,692.24103,788,056.44103,788,056.44
Prepaidlong-termassetsacquisitionfunds36,085,714.0036,085,714.0036,085,714.0036,085,714.00
Advancepaymentforequipmentandproject51,956,326.9351,956,326.9359,359,531.6059,359,531.60
Prepaymentforequityacquisition10,000,000.0010,000,000.0010,000,000.0010,000,000.00
Others1,161,418.971,161,418.971,163,686.771,163,686.77
Total265,194,092.9810,033,626.88255,160,466.10210,786,277.7610,020,492.17200,765,785.59

Note:Thelong-termassetsexpectedtobedisposedofmainlyincludethelanduserightsoftheplotatNo.64,FenjiangNorthRoad,whichistobetransferredanddisposedof,aswellasthedisposalcostsoftheplot.

31.AssetswithRestrictedOwnershiporRightofUse

Unit:RMB

ItemPeriod-endPeriod-beginning
CarryingamountCarryingvalueTypeofrestrictionStatusofrestrictionCarryingamountCarryingvalueTypeofrestrictionStatusofrestriction
Monetary524,122,497.12524,122,497.12RestrictedBilldeposit,512,340,403.99512,340,403.99RestrictedBilldeposit,
ItemPeriod-endPeriod-beginning
CarryingamountCarryingvalueTypeofrestrictionStatusofrestrictionCarryingamountCarryingvalueTypeofrestrictionStatusofrestriction
Assetsuseguaranteedeposit,pre-salehousepayment,etc.useguaranteedeposit,pre-salehousepayment,etc
Notesreceivable830,930,917.23830,930,917.23Pledge,endorsedordiscountedbutnotyetduePledgeofbillpool,billsreceivableendorsedordiscountedandnotdue951,909,082.20951,909,082.20Pledge,endorsedordiscountedbutnotyetduePledgeofbillpool,billsreceivableendorsedordiscountedandnotdue
Fixedassets348,161,016.79207,316,221.86PledgeMortgageguaranteeofrelatedparties348,161,016.79211,977,100.96PledgeMortgageguaranteeofrelatedparties
Intangibleassets15,551,408.0010,263,929.82PledgeMortgageguaranteeofrelatedparties15,551,408.0010,341,686.87PledgeMortgageguaranteeofrelatedparties
Accountsreceivablefinancing7,600,759.797,600,759.79PledgedPledgeofbillpool25,328,943.2425,328,943.24PledgedPledgeofbillpool
Othernon-currentassets663.57663.57FrozenFrozenfunds2,931.372,931.37FrozenFrozenfunds
Otherdebtinvestments103,309,041.10103,309,041.10Frozenlarge-denominationcertificatesofdeposit
Total1,726,367,262.501,580,234,989.391,956,602,826.691,815,209,189.73

32.Short-termBorrowings

(1)CategoryofShort-termBorrowings

Unit:RMB

ItemEndingbalanceBeginningbalance
Pledgedloans39,850,000.00
Mortgageloans8,000,000.0028,000,000.00
Creditborrowings177,042,562.45234,995,981.93
Acceptancebilldiscount14,556,611.514,282,836.39
Interestfromshort-termborrowings12,329.17
Total199,599,173.96307,141,147.49

Noteofthecategoryforshort-termloans:

Notesdiscountedbutnotyetdueattheendoftheperioddonotmeettheconditionsforderecognition.Therefore,theyarerecognizedasshort-termborrowings.

(2)ListoftheShort-termBorrowingsOverduebutnotReturnedNaught.

33.TradingFinancialLiabilities

Unit:RMB

ItemEndingbalanceBeginningbalance
Held-for-tradingfinancialliabilities275,250.00
Including:
Other275,250.00
Total275,250.00

34.DerivativeFinancialLiabilitiesNaught.

35.NotesPayable

Unit:RMB

CategoryEndingbalanceBeginningbalance
Bankacceptancebill1,781,207,077.081,930,784,817.62
Total1,781,207,077.081,930,784,817.62

ThetotalamountoftheduebutnotpaidnotespayableattheendoftheperiodwasofRMB0.00.

36.AccountsPayable

(1)ListofAccountsPayable

Unit:RMB

ItemEndingbalanceBeginningbalance
Accountspayable2,765,954,401.302,781,965,096.70
Total2,765,954,401.302,781,965,096.70

(2)SignificantAccountsPayableAgingoverOneYearorOverdue

Unit:RMB

ItemEndingbalanceReasonfornotrepaymentorcarry-over
UnitA81,073,448.55Ithasnotreachedthesettlementperiod
Total81,073,448.55

37.OtherPayables

Unit:RMB

ItemEndingbalanceBeginningbalance
Dividendspayable188,359,258.07
Otherpayables480,976,630.56495,717,050.97
Total669,335,888.63495,717,050.97

(1)InterestPayableNaught.

(2)DividendsPayable

Unit:RMB

ItemEndingbalanceBeginningbalance
Ordinarysharedividends184,293,387.60
Other4,065,870.47
Total188,359,258.07

(3)OtherPayables

1)OtherPayablesListedbyNature

Unit:RMB

ItemEndingbalanceBeginningbalance
Transactionamount208,201,244.02208,777,778.90
Performancebond85,303,654.7396,583,554.73
Relevantexpenseofsales79,290,940.2387,551,768.43
Paymentsfordemolition34,831,884.3034,898,417.30
Paymentforequitytransfer16,366,572.0016,366,572.00
Others56,982,335.2851,538,959.61
Total480,976,630.56495,717,050.97

2)SignificantOtherAccountsPayableAgingoverOneYearorOverdue

Unit:RMB

ItemEndingbalanceReasonfornotrepaymentorcarry-over
UnitA79,046,577.48Ithasnotreachedthesettlementperiod
Total79,046,577.48

38.AdvancesfromCustomers

(1)ListofAdvancesfromCustomers

Unit:RMB

ItemEndingbalanceBeginningbalance
Advancepaymentsreceived265,779.84163,623.85
Landreservepayment13,367,850.3013,367,850.30
Total13,633,630.1413,531,474.15

(2)SignificantAdvancesfromCustomersAgingoverOneYearorOverdueNaught.

39.ContractLiability

Unit:RMB

ItemEndingbalanceBeginningbalance
Advancesonsales142,244,278.82119,506,301.48
Total142,244,278.82119,506,301.48

Significantcontractliabilitiesagingoveroneyear:Naught.

40.PayrollPayable

(1)ListofPayrollPayable

Unit:RMB

ItemBeginningbalanceIncreaseDecreaseEndingbalance
I.Short-termsalary200,892,219.93682,061,966.06714,249,652.25168,704,533.74
II.Post-employmentbenefit-definedcontributionplans1,620,912.7771,397,561.9371,302,971.741,715,502.96
III.Terminationbenefits12,137,955.762,921,356.419,431,301.035,628,011.14
Total214,651,088.46756,380,884.40794,983,925.02176,048,047.84

(2)ListofShort-termSalary

Unit:RMB

ItemBeginningbalanceIncreaseDecreaseEndingbalance
1.Salary,bonus,allowance,subsidy197,310,106.14592,022,731.39623,904,434.50165,428,403.03
2.Employeewelfare39,061.6533,286,660.6633,292,052.7133,669.60
3.Socialinsurance662,261.8129,115,632.5529,176,810.23601,084.13
Ofwhich:Medicalinsurancepremiums566,202.6226,359,592.9326,423,567.44502,228.11
Work-relatedinjuryinsurance96,059.192,756,039.622,753,242.7998,856.02
4.Housingfund509,881.1721,867,279.8821,778,251.34598,909.71
5.Laborunionbudgetandemployeeeducationbudget2,370,909.165,769,661.586,098,103.472,042,467.27
Total200,892,219.93682,061,966.06714,249,652.25168,704,533.74

(3)ListofDefinedContributionPlans

Unit:RMB

ItemBeginningbalanceIncreaseDecreaseEndingbalance
1.Basicpensionbenefits1,165,716.9065,724,442.9665,684,954.971,205,204.89
2.Unemploymentinsurance37,636.782,648,111.222,646,728.3339,019.67
3.Annuity417,559.093,025,007.752,971,288.44471,278.40
Total1,620,912.7771,397,561.9371,302,971.741,715,502.96

Othernotes:

TheCompanyparticipatesintheschemeofpensioninsuranceandunemploymentinsuranceestablishedbygovernmentagenciesasrequired.Accordingtothescheme,feesarepaidtoitonamonthlybasisandattherateofstipulatedbygovernmentagencies.Inadditiontotheabovemonthlydepositfees,theCompanynolonger

assumesfurtherpaymentobligations.Correspondingexpensesarerecordedintothecurrentprofitsorlossesorthecostofrelatedassetswhenincurred.

41.TaxesPayable

Unit:RMB

ItemEndingbalanceBeginningbalance
VAT22,061,381.4520,024,672.48
Corporateincometax38,596,999.9870,202,563.56
Personalincometax1,885,724.0510,342,055.07
Citymaintenanceandconstructiontax2,128,620.261,622,938.34
Propertytax8,056,557.861,631,337.72
Landusetax2,412,804.10313,705.15
Stamptax1,437,782.971,757,727.88
Educationsurcharge1,098,284.53695,000.38
Localeducationsurcharge602,863.68458,383.14
Others392,113.1336,776.67
Total78,673,132.01107,085,160.39

42.LiabilitiesHeldforsaleNaught.

43.Non-currentLiabilitiesDuewithinOneYear

Unit:RMB

ItemEndingbalanceBeginningbalance
Currentportionoflong-termborrowings146,435,517.57112,386,714.93
Currentportionofleaseliabilities8,514,743.958,188,073.88
Total154,950,261.52120,574,788.81

44.OtherCurrentLiabilities

Unit:RMB

ItemEndingbalanceBeginningbalance
Reversednotesthatareendorsedandundue383,377,930.48368,196,176.60
Endorsedbutnotyetterminatedrecognition1,050,000.001,050,000.00
PendingchangeoveroutputVATandothers10,331,350.177,910,035.80
Total394,759,280.65377,156,212.40

45.Long-termBorrowings

(1)CategoryofLong-termBorrowings

Unit:RMB

ItemEndingbalanceBeginningbalance
Mortgageloans38,731,836.8439,680,861.51
Creditborrowings239,143,868.34295,287,783.96
Less:Currentportionoflong-termborrowings146,435,517.57112,386,714.93
Total131,440,187.61222,581,930.54

46.BondsPayableNaught.

47.LeaseLiabilities

Unit:RMB

ItemEndingbalanceBeginningbalance
Leasingliabilities21,685,561.4925,185,296.61
Less:Unrecognizedfinancingexpenses1,790,044.911,973,229.62
Less:currentportionofleaseliabilities8,514,743.958,188,073.88
Total11,380,772.6315,023,993.11

Othernotes:

Analysisofmaturityfateofleaseliabilities

ItemEndingbalanceBeginningbalance
Onetotwoyears6,743,657.947,538,905.81
Threetofiveyears2,261,917.774,826,977.55
Overfiveyears2,375,196.922,658,109.75
Total11,380,772.6315,023,993.11

48.Long-termAccountsPayableNaught.

49.Long-termEmployeeBenefitsPayableNaught.

50.Provisions

Unit:RMB

ItemEndingbalanceBeginningbalanceFormedreason
Pendinglitigation2,110,312.84Contractdispute
Productqualityassurance26,914,403.3725,320,370.98Provisionforproductqualityguaranteeexpenses
Total26,914,403.3727,430,683.82

51.DeferredIncome

Unit:RMB

ItemBeginningbalanceIncreaseDecreaseEndingbalanceFormedreason
Government73,739,179.9431,526,945.9013,777,235.4391,488,890.41Government
grantsallocations
Total73,739,179.9431,526,945.9013,777,235.4391,488,890.41

Othernotes:

Unit:RMB

ItemBeginningbalanceAmountofnewlysubsidyAmountrecordedintonon-operatingincomeintheReportingPeriodAmountrecordedintootherincomeintheReportingPeriodAmountoffsetcostintheReportingPeriodOtherchangesEndingbalanceRelatedtoassets/relatedincome
Governmentgrantsrelatedtoassets68,183,747.3827,697,519.139,681,661.1286,199,605.39
Small-pitchLEDPackagingTechnologyInnovationforDisplayandKeyPackagingEquipmentTechnologyTransformationProject9,322,107.789,444,242.881,619,089.4417,147,261.22Relatedtoassets
TechnologyRenovationProjectfortheProductionLineofMicroandFlip-chipLEDChips.2,001,695.7612,225,583.00862,079.4613,365,199.30Relatedtoassets
GovernmentSubsidyforAnnualFixedAssetInvestmentinAdvancedManufacturingandOil&GasExtractionProjects8,677,987.50222,512.528,455,474.98Relatedtoassets
Small-pitchandOutdoorLEDDisplayDeviceExpansionProjectandTechnicalTransformationProject10,003,945.762,032,275.847,971,669.92Relatedtoassets
TheProjectoftheInnovationinPackagingTechnologyandTechnologicalTransformationofKeyPackagingEquipmentofLEDswithHighColorRenderingIndexforIllumination6,052,565.77785,363.705,267,202.07Relatedtoassets
ItemBeginningbalanceAmountofnewlysubsidyAmountrecordedintonon-operatingincomeintheReportingPeriodAmountrecordedintootherincomeintheReportingPeriodAmountoffsetcostintheReportingPeriodOtherchangesEndingbalanceRelatedtoassets/relatedincome
TheSecondBatchofUltra-long-termSpecialGovernmentBondProjectSubsidiesfor2024.5,162,500.00262,500.004,900,000.00Relatedtoassets
SpecialProjectonDeep-seaTechnologyIndustryPromotion(IndustryDevelopmentCategory)ofHainanDeep-SeaTechnologyInnovationCenter-ProjectonBuildingandCommercialOperationofDeep-seaLightingProductProductionLine1,200,000.001,600,000.00159,660.042,640,339.96Relatedtoassets
EquipmentsubsidyforGaozhouProductionBaseConstructionProject2,504,336.1322,407.542,481,928.59Relatedtoassets
IntelligentTechnologyReformProjectofLEDPackagingWorkshopinGeelyIndustrialPark(PhaseI)620,755.001,683,357.122,304,112.12Relatedtoassets
2023AutomotiveLampProductionDigitalizationWorkshopTechnologyImprovementProject2,129,000.00123,000.002,006,000.00Relatedtoassets
ResearchontheThird-generationSemiconductorPowerDeviceandModulePackagingTechnology1,871,395.37167,493.661,703,901.71Relatedtoassets
TheFirstBatchof2022SpecialFundsforIndustrialTechnologicalTransformationbytheFinanceBureauofLiangJiangNewArea1,792,000.00128,000.001,664,000.00Relatedtoassets
ItemBeginningbalanceAmountofnewlysubsidyAmountrecordedintonon-operatingincomeintheReportingPeriodAmountrecordedintootherincomeintheReportingPeriodAmountoffsetcostintheReportingPeriodOtherchangesEndingbalanceRelatedtoassets/relatedincome
TheSecondBatchofSupportFundsforthe“TechnologicalTransformationofThousandsofEnterprises”intheGuangxiZhuangAutonomousRegionfor20211,366,666.54100,000.021,266,666.52Relatedtoassets
TheProjectofResourceConservationandEnvironmentalProtection1,425,234.20343,999.981,081,234.22Relatedtoassets
The2019SecondBatchofSpecialFundsofRMB3millionfortheIndustrialandInformationDevelopmentoftheCity1,200,000.00150,000.001,050,000.00Relatedtoassets
TheFirstBatchofSpecialFundsfortheIndustrialandInformationDevelopmentfortheGuangxiZhuangAutonomousRegionfor2017(TechnologicalTransformation)forLiuzhouGuige966,666.97199,999.98766,666.99Relatedtoassets
TheProjectoftheFirstBatchofSupportFundsforEnterprisesinLiuzhouCityfor2017forLiuzhouGuige900,000.00150,000.00750,000.00Relatedtoassets
ResearchandDevelopmentandIndustrializationProjectofPotassiumNitride-basedRfDevicesintheFieldofNextGenerationMobileCommunication743,787.0656,798.76686,988.30Relatedtoassets
The201914thBatchofIndustrialSupportFundsofRMB1.5million600,000.0075,000.00525,000.00Relatedtoassets
ItemBeginningbalanceAmountofnewlysubsidyAmountrecordedintonon-operatingincomeintheReportingPeriodAmountrecordedintootherincomeintheReportingPeriodAmountoffsetcostintheReportingPeriodOtherchangesEndingbalanceRelatedtoassets/relatedincome
TheFirstBatchofSpecialFundsforSmallandMedium-sizedEnterprisesin2022490,000.0035,000.00455,000.00Relatedtoassets
2021AutomotiveIndustryEnterpriseIntelligentTransformationandUpgradingProjectFunding419,333.1834,000.02385,333.16Relatedtoassets
LiuzhouGuige'sThirdBatchofGuangxiInnovation-drivenDevelopmentSpecialAssetProjectsin2018424,000.0048,000.00376,000.00Relatedtoassets
LiuzhouGuige2017LiudongNewDistrictEnterprisePotentialDevelopmentandRenovationFund450,000.0075,000.00375,000.00Relatedtoassets
ProjectFundsfromtheLiuzhouHigh-techIndustrialDevelopmentZoneManagementCommittee384,000.1631,999.98352,000.18Relatedtoassets
GuangdongProvincialSemiconductorMicrodisplayEnterpriseKeyLaboratory(2020)359,125.2037,718.70321,406.50Relatedtoassets
ResearchandDevelopmentandIndustrializationofMulti-modeLow-powerWide-areaIoTNodeChipsandPackagingTechnologiesBasedonNB-IoT323,894.0018,915.90304,978.10Relatedtoassets
ItemBeginningbalanceAmountofnewlysubsidyAmountrecordedintonon-operatingincomeintheReportingPeriodAmountrecordedintootherincomeintheReportingPeriodAmountoffsetcostintheReportingPeriodOtherchangesEndingbalanceRelatedtoassets/relatedincome
Others9,297,087.13240,000.001,940,845.587,596,241.55Relatedtoassets
Governmentgrantsrelatedtoincome5,555,432.563,829,426.774,095,574.315,289,285.02
ResearchProjectonKeyTechnologiesoftheThirdGenerationofHighEfficiencyandFrequencySemiconductorElectronicPowerModule1,639,002.8233,235.861,605,766.96Relatedtoincome
TheResearchontheKeyTechnologyof4K/8KFull-colorMicro-LEDDisplayswithUltraHighDefinition(UHD)1,344,000.001,344,000.00Relatedtoincome
TheResearchonFull-colourandIntegratedPackagingofMicro-LEDDisplaywithHighBrightnessandContrast990,013.5959,918.46930,095.13Relatedtoincome
MDLProject840,000.00840,000.00Relatedtoincome
Others742,416.153,829,426.774,002,419.99569,422.93Relatedtoincome
ItemBeginningbalanceAmountofnewlysubsidyAmountrecordedintonon-operatingincomeintheReportingPeriodAmountrecordedintootherincomeintheReportingPeriodAmountoffsetcostintheReportingPeriodOtherchangesEndingbalanceRelatedtoassets/relatedincome
Total73,739,179.9431,526,945.9013,777,235.4391,488,890.41

52.OtherNon-currentLiabilities

Unit:RMB

ItemEndingbalanceBeginningbalance
PendingchangeoveroutputVAT174,986.26174,986.26
Other663.572,931.37
Total175,649.83177,917.63

53.ShareCapital

Unit:RMB

BeginningbalanceIncrease/decrease(+/-)Endingbalance
NewissuesBonussharesBonusissuefromprofitOthersSub-total
Totalshares1,548,778,230.00-13,000,000.00-13,000,000.001,535,778,230.00

Note:OtherreferstotheCompany’scancellationof13millionA-sharesheldintherepurchasespecialsecuritiesaccountonJanuary10,2025,withacorrespondingreductioninregisteredcapital.Followingthiscancellation,theCompany’stotalsharecapitalchangedfrom1,548,778,230sharesto1,535,778,230shares.Othernotes:

Unit:RMB

Item/InvestorBeginningbalanceIncreaseDecreaseEndingbalance
InvestedamountProportionInvestedamountProportion
Restrictedshares57,295,457.003.70%46,796,039.0010,499,418.000.68%
Unrestrictedshares1,491,482,773.0096.30%46,796,039.0013,000,000.001,525,278,812.0099.32%
Total1,548,778,230.00100.00%46,796,039.0059,796,039.001,535,778,230.00100.00%

54.OtherEquityInstrumentNaught.

55.CapitalReserves

Unit:RMB

ItemBeginningbalanceIncreaseDecreaseEndingbalance
Capitalpremium(premiumonstock)907,090,354.1270,818,369.76836,271,984.36
Othercapitalreserves7,245,971.547,245,971.54
Total914,336,325.6670,818,369.76843,517,955.90

Othernotes,includingadescriptionoftheincreaseordecreaseforthecurrentperiodandthereasonsforthechange:

Capitalpremium(premiumonstock)decreasedbyRMB70,818,369.76inthecurrentperiod,whichweremainlydueto

1.TheCompanycancelleditsstocksharesonJanuary10,2025,resultinginaRMB69,165,144.15decreaseinthecapitalreserve;

2.Theacquisitionofnon-controllinginterestsinthemajority-ownedsubsidiaryHaolaite,resultinginaRMB1,653,225.61decreaseinthecapitalreserve.

56.TreasuryShares

Unit:RMB

ItemBeginningbalanceIncreaseDecreaseEndingbalance
Treasuryshares(A-share)82,165,144.1582,165,144.15
Total82,165,144.1582,165,144.15

Othernotes,includingadescriptionoftheincreaseordecreaseforthecurrentperiodandthereasonsforthechange:

Decreaseintreasuryshares(A-shares)byRMB82,165,144.15duringthecurrentperiodisattributabletotheCompany’scancellationof13millionA-sharesheldintherepurchasespecialsecuritiesaccountonJanuary10,2025,withacorrespondingreductioninregisteredcapital.

57.OtherComprehensiveIncome

Unit:RMB

ItemBeginningbalanceReportingPeriodEndingbalance
IncomebeforetaxationintheCurrentPeriodLess:RecordedinothercomprehensiveincomeinpriorperiodandtransferredtoprofitorlossintheCurrentPeriodLess:RecordedinothercomprehensiveincomeinpriorperiodandtransferredtoretainedearningsintheCurrentPeriodLess:IncometaxexpenseAttributabletoownersoftheCompanyastheparentaftertaxAttributabletonon-controllinginterestsaftertax
I.Othercomprehensiveincomethatmaynotsubsequentlybereclassifiedtoprofitorloss383,442,631.00252,097,724.56171,881,788.2337,814,658.6842,401,277.65425,843,908.65
Changesinfairvalueofotherinvestmentsinequityinstruments383,442,631.00252,097,724.56171,881,788.2337,814,658.6842,401,277.65425,843,908.65
II.Othercomprehensiveincomethatmaybereclassifiedtoprofitorloss-13,475.98-791,293.24-447,357.83-343,935.41-460,833.81
Differencesarisingfromtranslationofforeigncurrency-denominatedfinancialstatements-13,475.98-791,293.24-447,357.83-343,935.41-460,833.81
Totalofothercomprehensiveincome383,429,155.02251,306,431.32171,881,788.2337,814,658.6841,953,919.82-343,935.41425,383,074.84

Othernotes,includingthenotetotheadjustmentoftheinitialrecognitionamountofhedgeditemtransferredfromtheeffectivegain/lossoncashflowhedges:

Naught.

58.SpecificReserve

Unit:RMB

ItemBeginningbalanceIncreaseDecreaseEndingbalance
Productionsafetyreserve4,782,061.2011,812,685.8211,107,676.005,487,071.02
Total4,782,061.2011,812,685.8211,107,676.005,487,071.02

Othernotes,includingadescriptionoftheincreaseordecreaseforthecurrentperiodandthereasonsforthechange:

TheincreaseinthecurrentyearrepresentsthesafetyproductionexpensesaccruedinaccordancewiththeproportionstipulatedintheNoticeonissuingtheManagementMeasuresfortheProvisionandUseofEnterpriseProductionSafetyCosts(C.Z.[2022]No.136),andthedecreaseinthecurrentyearrepresentstheactualsafetyproductionexpensesincurred.

59.SurplusReserves

Unit:RMB

ItemBeginningbalanceIncreaseDecreaseEndingbalance
Statutorysurplusreserve108,417,252.0117,188,178.82125,605,430.83
Discretionarysurplusreserve41,680,270.9641,680,270.96
Total150,097,522.9717,188,178.82167,285,701.79

Notesincludingchangesandreasonsthereof:

TheincreaseinsurplusreservebyRMB17,188,178.82duringthecurrentperiodisattributabletothedisposalofequitysecuritiesclassifiedasinvestmentsinotherequityinstruments,wherebythecumulativefairvaluechangespreviouslyrecognizedinothercomprehensiveincomeweretransferredtoretainedearnings,withsimultaneousallocationtosurplusreserve.

60.RetainedProfits

Unit:RMB

ItemReportingPeriodSameperiodoflastyear
Beginningbalanceofretainedearningsbeforeadjustments3,655,046,154.573,435,308,364.11
ItemReportingPeriodSameperiodoflastyear
Beginningbalanceofretainedearningsafteradjustments3,655,046,154.573,435,308,364.11
Add:NetprofitattributabletoownersoftheCompanyastheparent114,993,752.24446,184,021.97
Less:Withdrawalofstatutorysurplusreserves42,152,843.91
Dividendofordinarysharespayable184,293,387.60184,293,387.60
Add:Other(Note)154,693,609.41
Endingretainedearnings3,740,440,128.623,655,046,154.57

Note:Itreferstothetransferofcumulativefairvaluechangespreviouslyrecognizedinothercomprehensiveincometoretainedearningsuponsalesofsharesduringthecurrentperiod.Listofadjustmentofbeginningretainedearnings:

(1)RMB0.00beginningretainedprofitswasaffectedbyretrospectiveadjustmentconductedaccordingtotheAccountingStandardsforBusinessEnterprisesandrelevantnewregulations.

(2)RMB0.00beginningretainedearningswasaffectedbychangesinaccountingpolicies.

(3)RMB0.00beginningretainedearningswasaffectedbycorrectionofsignificantaccountingerrors.

(4)RMB0.00beginningretainedearningswasaffectedbychangesincombinationscopearisingfromsamecontrol.

(5)RMB0.00beginningretainedearningswasaffectedtotallybyotheradjustments.

61.OperatingRevenueandCostofSales

Unit:RMB

ItemReportingPeriodSameperiodoflastyear
OperatingrevenueCostofsalesOperatingrevenueCostofsales
Mainoperations4,185,528,329.953,379,096,211.374,641,840,263.113,770,172,987.42
Otheroperations200,202,789.83186,224,345.31142,705,504.31100,078,120.59
Total4,385,731,119.783,565,320,556.684,784,545,767.423,870,251,108.01

Breakdowninformationofoperatingrevenueandcostofsales:

Unit:RMB

CategoryofcontractsTotal
OperatingrevenueCostofsales
Businesstype4,385,731,119.783,565,320,556.68
Ofwhich:
Generallightingproducts1,555,797,106.241,142,860,150.29
LEDpackagingandcomponentproducts1,138,917,060.61944,141,765.80
Vehiclelampproducts1,013,526,856.90833,677,921.36
Tradeandotherproducts677,490,096.03644,640,719.23
Byoperatingplaces
Ofwhich:
Domestic3,419,449,003.112,742,697,709.96
Overseas966,282,116.67822,622,846.72
Total4,385,731,119.783,565,320,556.68

Informationrelatedtotransactionvalueassignedtoresidualperformanceobligations:

TheamountofrevenuecorrespondingtoperformanceobligationsthathavebeencontractedbutnotyetperformedornotcompletedattheendoftheReportingPeriodwasRMB221,676,101.25.

62.TaxesandSurtaxes

Unit:RMB

ItemReportingPeriodSameperiodoflastyear
Urbanmaintenanceandconstructiontax9,073,146.4011,477,398.90
Educationsurcharge4,078,286.185,817,380.58
Propertytax12,564,073.0312,240,976.04
Landusetax2,949,828.191,862,982.54
Vehicleandvesselusetax9,346.8811,539.44
ItemReportingPeriodSameperiodoflastyear
Stampduty3,884,049.494,090,236.94
Localeducationsurcharge2,594,481.892,386,760.07
Environmentalprotectiontax33,538.1619,936.01
Others8,691.969,728.71
Total35,195,442.1837,916,939.23

63.AdministrativeExpense

Unit:RMB

ItemReportingPeriodSameperiodoflastyear
Employeebenefits131,837,173.33130,927,710.77
Depreciationcharge45,950,398.9239,408,441.47
Officeexpenses13,106,605.9118,519,960.05
Amortizationofintangibleassets5,039,291.894,114,485.79
Engineeringdecorationcost3,561,866.594,801,504.22
Intermediaryagencyengagementfee3,523,533.025,246,590.63
Utilities3,483,871.723,149,472.00
Rentoflandandmanagementcharge3,044,193.904,141,330.16
Laborcost2,184,951.462,666,214.20
Securityfundforthedisabled30,023.52
Others12,269,692.8113,327,229.70
Total224,001,579.55226,332,962.51

64.SellingExpense

Unit:RMB

ItemReportingPeriodSameperiodoflastyear
Employeebenefits76,018,915.0872,432,535.06
Businesspropagandizingfeesandadvertisingfees59,495,362.3153,863,531.30
Salespromotionfees11,457,954.806,294,529.20
Officeexpenses6,887,070.566,876,969.60
Businesstravelcharges5,779,947.185,507,517.26
Commercialinsurancepremium2,471,904.933,232,729.39
Others20,780,917.1719,009,986.09
Total182,892,072.03167,217,797.90

65.DevelopmentCosts

Unit:RMB

ItemReportingPeriodSameperiodoflastyear
Personnelandlaborcosts145,282,615.31126,235,339.99
Directinvestmentexpenses81,124,028.8882,440,945.66
Depreciationexpensesandlong-termprepaidexpenses25,237,404.3722,649,859.13
CostofoutsourcingexternalR&D3,418,767.963,917,155.30
Amortizationchargeofintangibleassets20,760.9628,166.42
Designfees12,264.151,696,516.00
OtherFees12,573,757.9023,197,968.13
Total267,669,599.53260,165,950.63

Othernotes:

InrespectofR&DexpenseincurredbytheCompany,expenseotherthanthatonbench-scaleandpilot-scaleproductionisincludedinR&Dexpense;andsalesrevenueofproductsfrombench-scaleandpilot-scaleproductionisincludedincorebusinessrevenueandtherelevantcostsareincludedincostofsalesofcorebusiness.

66.FinanceCost

Unit:RMB

ItemReportingPeriodSameperiodoflastyear
Interestcosts8,116,483.1411,047,212.70
Less:Interestincome20,148,088.6925,938,447.85
Foreignexchangegainsorlosses-2,889,508.01-17,140,676.80
Handlingchargeandothers-2,196,542.611,425,667.21
Total-17,117,656.17-30,606,244.74

67.OtherIncome

Unit:RMB

SourcesReportingPeriodSameperiodoflastyear
TheDeductibleInputTaxforAdvancedManufacturingEnterprises19,970,901.4930,052,926.81
TheProjectsoftheProductionExpansionandTechnologicalTransformationofComponentsofSmall-spacingandOutdoorLEDDisplays4,561,671.742,032,275.84
VATrefundedassoonasitislevied3,514,199.48
ManufacturingOperationManagementMOMSoftwareResearchProjectforNationStarManufacturingScenarios1,420,000.00
CAEsoftwareResearchProjectforMulti-physicsFieldCouplingSimulationofNationStarLEDProducts1,206,700.001,890,966.85
NationalManufacturingSingleChampionAward1,200,000.00
Socialinsurancesubsidies1,032,640.6467,954.64
The“StrongStart”EconomicInitiativeforQ1byNanningNewandHigh-techIndustrialDevelopmentZone1,010,000.00
SourcesReportingPeriodSameperiodoflastyear
ManufacturingOperationManagementMOMPrototypeSoftwareResearchProjectforNationStarManufacturingScenarios933,200.001,880,000.00
TheTaxIncentivesforthePoor864,650.005,435,946.87
TechnologyRenovationProjectofMiniandFlip-chipLEDChipProductionLines862,079.46
TheProjectoftheInnovationinPackagingTechnologyandTechnologicalTransformationofKeyPackagingEquipmentofLEDpackagingwithHighColorRenderingIndexforIllumination785,363.70785,363.70
Returnofhandlingchargesforwithholdingandremittance581,015.09479,040.08
LEDTechnologyforEfficientCultivationinModernAgricultureandItsDemonstrativeApplication455,981.82143,251.56
FundsforNewIndustrializationfromtheAutonomousRegion430,000.00
EnterpriseR&DRewardandSubsidy403,326.00
TheProjectofResourceConservationandEnvironmentalProtection343,999.98671,246.82
TheSubsidyforMetal-organicChemicalVaporDeposition(MOCVD)4,800,912.92
TheResearchontheKeyTechnologyof4K/8KFull-colorMicro-LEDDisplayswithUltra-HighDefinition(UHD)2,911,576.13
SupportFundfortheDigitalIntelligentTransformationoftheManufacturingIndustry592,548.00
Small-pitchLEDPackagingTechnologyInnovationforDisplayandKeyPackagingEquipmentTechnologyTransformationProject548,355.48
ChanchengDistrictGovernmentQualityAward500,000.00
RewardFundsforSmartFactoryDemonstrationEnterprisesandDigitalWorkshops500,000.00
EpitaxialGrowthandChipFabricationTechniquesforHigh-PerformanceDeepUltravioletLED400,000.00
SourcesReportingPeriodSameperiodoflastyear
QualityManagementMaturityLevel5AEnterpriseBonus400,000.00
IncentiveforstandardproductsofFoshanCity360,000.00
Others5,669,403.055,699,047.49
Total45,245,132.4560,151,413.19

68.NetGainonExposureHedgesNaught.

69.GainsfromChangesinFairValue

Unit:RMB

SourcesReportingPeriodSameperiodoflastyear
Financialassetsheldfortrading345,894.65-601,447.40
Total345,894.65-601,447.40

70.InvestmentIncome

Unit:RMB

ItemReportingPeriodSameperiodoflastyear
Long-termequityinvestmentincomeaccountedbyequitymethod646,719.771,444,720.72
Investmentincomefromdisposaloftradingfinancialassets420,703.902,911,077.39
Dividendincomefromholdingofotherequityinstrumentinvestment9,727,720.6719,990,672.99
Interestincomeofinvestmentinotherdebtobligationsduringholdingperiod15,294,849.6713,671,028.14
Investmentincomefromfinancialproductsandstructuraldeposits1,357,081.83
ItemReportingPeriodSameperiodoflastyear
Total27,447,075.8438,017,499.24

71.CreditImpairmentLoss

Unit:RMB

ItemReportingPeriodSameperiodoflastyear
Baddebtlossonnotesreceivable-1,082,149.07-266,311.20
Baddebtlossonaccountsreceivable-10,120,936.33-37,243,385.45
Baddebtlossonotherreceivables-898,410.29-761,111.93
Total-12,101,495.69-38,270,808.58

72.AssetImpairmentLoss

Unit:RMB

ItemReportingPeriodSameperiodoflastyear
I.Lossoninventoryvaluationandcontractperformancecost-22,345,101.18-29,752,322.32
XI.LossonimpairmentofcontractAssets550,205.94808,278.52
XII.Others-629,976.09-8,014,761.09
Total-22,424,871.33-36,958,804.89

73.AssetsDisposalIncome

Unit:RMB

SourcesReportingPeriodSameperiodoflastyear
Gainsorlossesarisingfromthedisposalofnon-currentassetsnotclassifiedasheldforsale-64,693.00-99,108.79
Total-64,693.00-99,108.79

74.Non-operatingIncome

Unit:RMB

ItemReportingPeriodSameperiodoflastyearAmountrecordedinthecurrentnon-recurringprofitorloss
Incomefromscrapofnon-currentassets19,461.06320,853.2219,461.06
Ofwhich:incomefromscrapoffixedassets19,461.06320,853.2219,461.06
Incomefromdefaultmoney202,108.271,460,120.49202,108.27
Confiscatedincome32,100.0054,273.2732,100.00
Others1,859,646.021,219,612.571,859,646.02
Total2,113,315.353,054,859.552,113,315.35

75.Non-operatingExpense

Unit:RMB

ItemReportingPeriodSameperiodoflastyearAmountrecordedinthecurrentnon-recurringprofitorloss
Externaldonation30,000.0030,000.00
Lossesfromdamageandscrapofnon-currentassets2,371.68156,010.362,371.68
Ofwhich:Lossondisposaloffixedassets2,371.68156,010.362,371.68
Penaltyandfinefordelayingpayment795,772.15204,491.05795,772.15
Others1,259,051.77125,716.021,259,051.77
Total2,087,195.60486,217.432,087,195.60

76.IncomeTaxExpense

(1)ListofIncomeTaxExpense

Unit:RMB

ItemReportingPeriodSameperiodoflastyear
Currentincometaxexpense26,724,735.7231,645,407.23
Deferredincometaxexpense-8,405,922.80-7,013,025.11
Total18,318,812.9224,632,382.12

(2)AdjustmentProcessofAccountingProfitandIncomeTaxExpense

Unit:RMB

ItemReportingPeriod
Profitbeforetaxation166,242,688.65
Currentincometaxexpenseaccountedatstatutory/applicabletaxrate24,936,403.30
Influenceofapplyingdifferenttaxratesbysubsidiaries-682,404.70
Influenceofincometaxbeforeadjustment9,763,870.79
Influenceofnon-taxableincome-2,313,090.68
Influenceofnon-deductiblecosts,expensesandlosses3,601,618.95
Theeffectofusingdeductiblelossesofdeferredincometaxassetsthathavenotbeenrecognizedinthepreviousperiod-6,265,165.00
Influenceofunrecognizeddeductibletemporarydifferencesanddeductiblelosses7,808,743.76
ImpactofadditionaldeductionofR&Dexpenses-17,706,682.23
Other-824,481.27
Incometaxexpenses18,318,812.92

77.OtherComprehensiveIncomeRefertoNoteVIINotestoMainItemsofConsolidatedFinancialStatements-57fordetails.

78.CashFlowStatement

(1)CashRelatedtoOperatingActivitiesCashgeneratedfromotheroperatingactivities

Unit:RMB

ItemReportingPeriodSameperiodoflastyear
Margin11,435,215.7622,370,050.64
Depositinterest16,644,598.4122,332,393.90
Incomefromsubsidy37,237,015.2720,458,063.38
Incomefromwaste9,810,965.9114,076,991.86
Rentalincomefrompropertyandequipment,utility2,207,358.662,272,907.82
Others21,134,864.9437,878,011.81
Total98,470,018.95119,388,419.41

Notestocashgeneratedfromoperatingactivities:

Naught.Cashusedinotherinvestingactivities

Unit:RMB

ItemReportingPeriodSameperiodoflastyear
Administrativeexpensepaidincash72,987,101.2961,546,270.39
Sellingexpensepaidincash49,217,298.7746,645,367.15
Financecostspaidincash6,712,280.001,012,751.95
Cashdeposit13,458,767.8252,147,104.25
Others72,633,074.4031,406,796.05
Total215,008,522.28192,758,289.79

Notestocashusedinotheroperatingactivities:

Naught

(2)CashRelatedtoInvestingActivitiesCashgeneratedfromotherinvestingactivities

ItemReportingPeriodSameperiodoflastyear
Proceedsfromforeignexchangesettlement215,850.00
Reclassificationofnetcashpaidforacquisitionofsubsidiaries22,826,907.16
Total23,042,757.16

Significantcashreceivedrelatedtoinvestingactivities:

Naught.Cashusedinotherinvestingactivities:

Naught.Significantcashusedrelatedtoinvestingactivities:

Naught.

(3)CashRelatedtoFinancingActivitiesCashgeneratedfromotherfinancingactivities

Unit:RMB

ItemReportingPeriodSameperiodoflastyear
Recapturemargin35,675,972.287,224,809.91
Total35,675,972.287,224,809.91

Notestocashgeneratedfromotherfinancingactivities:

Naught.Cashusedinotherfinancingactivities

Unit:RMB

ItemReportingPeriodSameperiodoflastyear
Paymentforcashdepositofbankacceptancebills14,576,319.8810,803,556.41
Paymentforfinancing1,090,901.93211,897.22
intermediaryfees,etc
Others816,798.83485,855.80
Total16,484,020.6411,501,309.43

Notestocashusedinotherfinancingactivities:

Naught.Changesinliabilitiesarisingfromfinancingactivities?Applicable□Notapplicable

Unit:RMB

ItemBeginningbalanceIncreaseDecreaseEndingbalance
CashNon-cashCashNon-cash
Short-termborrowings307,141,147.4962,556,611.5158,226.88125,929,392.2144,227,419.71199,599,173.96
Long-termloans222,581,930.541,211,392.5656,115,823.3358,706,402.7389,762,556.09131,440,187.61
Otherpayables-equitytransferpayments5,000,000.005,000,000.00
Non-currentliabilitiesduewithinoneyear120,574,788.8194,941,196.0260,565,723.31154,950,261.52
Leasingliabilities15,023,993.115,029,867.674,029,890.754,643,197.4011,380,772.63
Total670,321,859.9563,768,004.07156,145,113.90188,665,685.69199,198,896.51502,370,395.72

(4)ExplanationforPresentationofCashFlowsonaNetBasisNaught.

(5)SignificantActivitiesandFinancialImpactthatDoNotInvolveCurrentCashReceiptsandDisbursementsbutAffecttheCompany’sFinancialPositionorMayAffecttheCompany’sCashFlowsintheFutureIn2025,theCompanyanditssubsidiariesreceivedRMB1,757.7021millioninvarioustypesofacceptancebillsissuedandendorsedbycustomers,andRMB1,073.63millioninvarioustypesofacceptancebillsendorsedand

transferredtosuppliers.Inaddition,theCompanyanditssubsidiariesreceivedatotalofRMB168.0125millioninpaymentsforgoodsthroughbilldiscounting.

79.SupplementalInformationforCashFlowStatement

(1)SupplementalInformationforCashFlowStatement

Unit:RMB

SupplementalinformationReportingPeriodSameperiodoflastyear
1.Reconciliationofnetprofittonetcashgeneratedfrom/usedinoperatingactivities:
Netprofit147,923,875.73253,442,256.65
Add:Provisionforimpairmentofassets34,526,367.0275,229,613.47
Depreciationoffixedassets,oil-gasassets,andproductivelivingassets271,632,208.57263,094,158.49
Depreciationofright-of-useassets5,392,572.344,097,193.56
Amortizationofintangibleassets12,719,631.5510,549,312.38
Amortizationoflong-termdeferredexpenses47,987,420.8279,925,639.97
Lossfromdisposaloffixedassets,intangibleassetsandotherlong-termassets(gains:negative)64,693.0099,108.79
Lossesfromscrappingoffixedassets(gains:negative)-17,089.38-164,842.86
Lossesfromchangesinfairvalue(gains:negative)-345,894.65601,447.40
Financecosts(gains:negative)3,163,870.70-6,093,464.10
Investmentloss(gains:negative)-27,447,075.84-38,017,499.24
Decreaseindeferredincometaxassets(increase:negative)-3,720,364.18-18,244,273.75
Increaseindeferredincometaxliabilities(“-”fordecrease)-4,685,558.62-4,067,382.64
Decreaseininventory(“-”forincrease)-21,335,937.11227,917,770.99
Decreaseinoperatingreceivables(“-”for-316,641,457.57-250,051,969.33
SupplementalinformationReportingPeriodSameperiodoflastyear
increase)
Increaseinoperatingpayables(“-”fordecrease)-140,077,259.25-219,105,024.82
Others705,009.825,380,999.65
Netcashgeneratedfrom/usedinoperatingactivities9,845,012.95384,593,044.61
2.Significantinvestingandfinancingactivitieswithoutinvolvementofcashreceiptsandpayments
Transferofdebtsintocapital
Currentportionofconvertiblecorporatebonds
Fixedassetsleasedinforfinancing
3.Netincrease/decreaseofcashandcashequivalents:
Endingbalanceofcash2,545,828,784.722,687,757,730.67
Less:Beginningbalanceofcash2,684,382,020.413,101,252,943.88
Add:Endingbalanceofcashequivalents
Less:Beginningbalanceofcashequivalents
Netincreaseincashandcashequivalents-138,553,235.69-413,495,213.21

(2)NetCashPaidforAcquisitionofSubsidiaries

Unit:RMB

Amount
Cashorcashequivalentspaidinthecurrentperiodforthebusinesscombinationoccurringinthepreviousperiod22,500,000.00
Including:
BeijingAirtrustAviationTechnologyCo.,Ltd.22,500,000.00
Less:Cashandcashequivalentsheldbysubsidiaryattheacquisitiondate45,326,907.16
Including:
BeijingAirtrustAviationTechnologyCo.,Ltd.45,326,907.16
Including:
Amountsreclassifiedto“Cashgeneratedfromotherinvestingactivities”(Note)22,826,907.16
Netcashpaidforacquisitionofsubsidiaries

Note:InthecapitalincreaseofBeijingAirtrustduringtheyear,thenetamountofcashorcashequivalentspaidforbusinesscombinationsduringthecurrentperiodminusthecashandcashequivalentsheldbythesubsidiaryonthedateofacquisitionwasnegative.Therefore,theamounthasbeenreclassifiedtothe“Cashgeneratedfromotherinvestingactivities”itemforpresentationpurposes.

(3)NetCashReceivedfromDisposaloftheSubsidiariesNaught.

(4)CashandCashEquivalents

Unit:RMB

ItemEndingbalanceBeginningbalance
I.Cash2,545,828,784.722,684,382,020.41
Including:Cashonhand78,888.5740,535.66
Bankdepositsavailableondemand2,416,824,912.952,680,618,712.62
Othermonetaryassetsondemand128,924,983.203,722,772.13
III.Endingbalanceofcashandcashequivalents2,545,828,784.722,684,382,020.41

(5)PresentationofCashandCashEquivalentsthatAreSubjecttoCertainRestrictionsonTheirUsageNaught.

(6)MonetaryFundsOtherthanCashandCashEquivalents

Unit:RMB

ItemReportingPeriodSameperiodoflastyearReasonfornotclassifyingtheitemascashandcashequivalents
Billdeposit,guaranteedeposit,pre-salehousepayment,etc524,122,497.12492,360,246.76Specificpurpose
To-be-receivedinterest14,468,117.3411,490,996.27InterestreceivableonunduebankdepositsandtermdepositsasattheendoftheReportingPeriod
Total538,590,614.46503,851,243.03

(7)NotesonOtherSignificantActivitiesNaught.

80.NotestoItemsoftheStatementsofChangesinOwners’EquityNotestonamesundertheitemof“Other”intheadjustedendingbalanceforthesameperiodoflastyearandthecorrespondingamount:

Naught.

81.ForeignCurrencyMonetaryItems

(1)ForeignCurrencyMonetaryItems

Unit:RMB

ItemEndingforeigncurrencybalanceExchangerateEndingbalanceconvertedtoRMB
MonetaryAssets367,309,187.45
Including:USD44,550,940.347.1586318,922,361.52
EUR153,393.478.40241,288,873.29
HKD51,815.600.9119547,253.24
IDR57,989,708,959.980.00044325,689,441.07
THB97,238,065.960.2196821,361,258.33
Accountsreceivable337,018,218.95
Including:USD46,423,417.647.1586332,326,677.52
ItemEndingforeigncurrencybalanceExchangerateEndingbalanceconvertedtoRMB
EUR380,323.798.40243,195,632.61
HKD
IDR3,376,769,338.960.0004431,495,908.82
Long-termborrowings
Including:USD
EUR
HKD
Otherreceivables553,770.29
Ofwhich:USD3,707.197.158626,538.29
THB2,400,000.000.21968527,232.00
Accountspayable15,390,058.91
Including:USD1,605,671.687.158611,494,361.29
EUR213,470.598.40241,793,665.29
IDR4,744,993,974.500.0004432,102,032.33
Othercurrentassets66,446.83
Ofwhich:IDR149,992,849.760.00044366,446.83

(2)NotestoOverseasEntitiesIncluding:forSignificantOverseasEntities,MainOperatingPlace,RecordingCurrencyandSelectionBasisShallBeDisclosed;IfThereAreChangesinRecordingCurrency,RelevantReasonsShallBeDisclosed.

□Applicable?Notapplicable

82.Leases

(1)TheCompanyServedastheLessee:

?Applicable□Notapplicable

ItemAmount
ItemAmount
Simplifiedshort-termleasechargesrecognizedinthecostoftherelatedassetsorincurrentprofitorloss1,197,410.44
Totalcashoutflowsrelatedtoleases3,988,335.90

Variableleasepaymentsthatarenotcoveredinthemeasurementoftheleaseliabilities

□Applicable?NotapplicableSimplifiedshort-termleaseorleaseexpenseforlow-valueassets

□Applicable?NotapplicableCircumstancesinvolvingsaleandleasebacktransactionsNaught.

(2)TheCompanyServedastheLessor:

OperatingleaseswiththeCompanyaslessor?Applicable□Notapplicable

Unit:RMB

ItemLeaseincomeOfwhich:incomerelatedtovariableleasepaymentsnotincludedinleasereceipts
Houseleaseandothers9,208,133.080.00
Total9,208,133.080.00

FinanceleaseswiththeCompanyaslessor

□Applicable?NotapplicableUndiscountedleasereceiptsforeachofthenextfiveyears

□Applicable?NotapplicableReconciliationofundiscountedleasereceiptstonetinvestmentinleasesNaught.

(3)RecognitionofGainorLossonSalesunderFinanceLeaseswiththeCompanyasaManufacturerorDistributor

□Applicable?Notapplicable

83.DataResourcesNaught.

84.OthersNaught.

VIII.ResearchandDevelopmentExpenses

Unit:RMB

ItemReportingPeriodSameperiodoflastyear
Personnelandlaborcosts145,282,615.31126,235,339.99
Directinvestmentexpenses81,124,028.8882,440,945.66
Depreciationexpensesandlong-termprepaidexpenses25,237,404.3722,649,859.13
CostofoutsourcingexternalR&D3,418,767.963,917,155.30
Amortizationchargeofintangibleassets20,760.9628,166.42
Designfees12,264.151,696,516.00
Otherfees12,573,757.9023,197,968.13
Total267,669,599.53260,165,950.63
Including:researchanddevelopmentexpendituresthatareexpensed267,669,599.53260,165,950.63

Othernotes:

InrespectofR&DexpenseincurredbytheCompany,expenseotherthanthatonbench-scaleandpilot-scaleproductionisincludedinR&Dexpense,andsalesrevenueofproductsfrombench-scaleandpilot-scaleproductionisincludedincorebusinessrevenueandtherelevantcostsareincludedincostofsalesofcorebusiness.

IX.ChangeofConsolidationScope

1.BusinessCombinationInvolvingEntitiesNotUnderCommonControl

(1)BusinessCombinationNotundertheSameControlduringtheCurrentPeriod

Unit:RMB

AcquireesTimeofgainingequityCostofgainingtheequityProportionofequityWaytogainequityAcquisitiondateRecognitionbasisofpurchasedateIncomeofacquireefromthepurchasedatetoperiod-endNetprofitsofacquireefromthepurchasedatetoperiod-endCashflowsoftheacquireefromthepurchasedatetotheendoftheperiod
BeijingAirtrustAviationTechnologyCo.,Ltd.May1,202522,500,000.0045%CapitalincreasethroughcashcontributionMay1,2025Re-electingdirectors,completingpropertytransferprocedures,etc.andactuallycontrollingtheacquiredcompany-585,722.64-646,259.56

(2)CombinationCostandGoodwill

Unit:RMB

CombinationcostBeijingAirtrustAviationTechnologyCo.,Ltd.
-Cash22,500,000.00
Totalcombinationcosts22,500,000.00
Less:shareinthefairvalueofidentifiablenetassetsacquired22,374,447.93
Theamountofgoodwill/combinationcostlessthantheshareinthefairvalueofidentifiablenetassetsacquired125,552.07

(3)IdentifiableAssetsandLiabilitiesoftheAcquireeontheAcquisitionDate

Unit:RMB

BeijingAirtrustAviationTechnologyCo.,Ltd.
FairvalueonpurchasedateCarryingvalueonpurchasedate
Assets:
Monetaryassets45,326,907.1645,326,907.16
Accountsreceivable58,831.9758,831.97
Inventories1,267,251.771,302,397.51
Fixedassets53,492.9339,515.53
Intangibleassets2,950,600.00
Prepayments119,698.00119,698.00
Otherreceivables1,143,035.991,143,035.99
Othercurrentassets4,741.734,741.73
Long-termprepaidexpense822,174.76822,174.76
Deferredincometaxassets1,886,550.941,886,550.94
Totalassets53,633,285.2550,703,853.59
Liabilities:
Borrowings
Accountspayable195,197.50195,197.50
Deferredincometaxliabilities585,886.33
Otherpayables3,223,105.003,223,105.00
Taxespayable-91,898.97-91,898.97
Totalliabilities3,912,289.863,326,403.53
Netassets49,720,995.3947,377,450.06
Less:Non-controllinginterests27,346,547.4626,057,597.53
BeijingAirtrustAviationTechnologyCo.,Ltd.
FairvalueonpurchasedateCarryingvalueonpurchasedate
Netassetsacquired22,374,447.9321,319,852.53

Methodfordeterminingthefairvalueofidentifiableassetsandliabilities:

WhentheCompanyincreaseditscapitalinBeijingAirtrustAviationTechnologyCo.,Ltd.,itengagedanassessmentagencywithrelevantqualificationstoassesstheidentifiableassetsandliabilitiesofthetargetcompanyinaccordancewiththeasset-basedmethod,anddeterminedthefairvalueoftheconsolidatednetassetsofBeijingAirtrustAviationTechnologyCo.,Ltd.basedontheassessmentresults.

(4)GainorLossfromRemeasurementofEquityInterestsHeldbeforetheAcquisitionDateatFairValueWhethertherewereseveraltransactionstorealizebusinesscombinationsandacquirecontrolsduringtheReportingPeriod

□Yes?No

(5)NotestoFailuretoReasonablyDeterminetheCombinationConsiderationortheFairValueofIdentifiableAssetsandLiabilitiesoftheAcquireeontheAcquisitionDateorattheEndoftheCurrentPeriodNaught.

(6)OtherNotesNaught.

2.BusinessCombinationundertheSameControlNaught.

3.CounterPurchaseBasicinformationofthetransactions,basisofthecounterpurchase,basisandwhetherassetsandliabilitiesretainedbythelistedcompanyconstitutebusiness,determinationofthecombinationcost,theamountandcalculationoftheequityamountadjustedintreatmentfortheequitytransaction:

Naught.

4.DisposalofSubsidiaryWhethertherewereanytransactionsoreventsduringtheperiodinwhichcontrolofthesubsidiarywaslost?

□Yes?NoWhetherthereareseveraldisposalsoftheinvestmenttothesubsidiaryandlostcontrols?

□Yes?No

5.ChangesinCombinationScopeforOtherReasonsNotetochangesincombinationscopeforotherreasons(suchasnewlyestablishmentorliquidationofsubsidiaries,etc.)andrelevantinformation:

1.BeijingAirtrust,theCompany’smajority-ownedcompany,holds100%equityinterestinAirstarandexercisescontroloverit.TheCompanyobtainedcontroloverAirstarthroughacapitalincreaseinBeijingAirtrust.AirstarhasbeenincludedintheconsolidationscopesinceMay2025.

2.FSL(Thailand)LightingTechnologyCo.,Ltd.completeditsoverseasinvestmentfilinginJuneofthecurrentperiod.Simultaneously,HaolaiteCompanyandChanchangCompanyinjectedcapitalintoThailandCompany.ThailandCompanyhasbeenincludedintheconsolidationscopesinceJune2025.

6.OthersNaught.

X.EquityinOtherEntities

1.EquityinSubsidiary

(1)Subsidiaries

Unit:RMB

NameofthesubsidiaryRegisteredcapitalMainoperatingplaceRegistrationplaceNatureofbusinessHoldingpercentageWayofgaining
DirectIndirect
FoshanFozhaoZhichengTechnologyCo.,Ltd.50,000,000.00FoshanFoshanProductionandsales100.00%Newlyestablished
FSLChanchangLightingCo.,Ltd.72,782,944.00FoshanFoshanProductionandsales100.00%Newlyestablished
FoshanTaimeiTimesLampCo.,Ltd.500,000.00FoshanFoshanProductionandsales70.00%Newlyestablished
FoshanElectrical&Lighting(Xinxiang)Co.,Ltd.35,418,439.76XinxiangXinxiangProductionandsales100.00%Newlyestablished
NanjingFozhaoLightingComponentsManufacturing41,683,200.00NanjingNanjingProductionandsales100.00%Acquired
NameofthesubsidiaryRegisteredcapitalMainoperatingplaceRegistrationplaceNatureofbusinessHoldingpercentageWayofgaining
DirectIndirect
Co.,Ltd.
FSLZhidaElectricTechnologyCo.,Ltd.38,150,000.00FoshanFoshanProductionandsales66.84%Newlyestablished
FoshanHaolaiteLightingCo.,Ltd.17,158,000.00FoshanFoshanProductionandsales100.00%Newlyestablished
NationStarOptoelectronics(Germany)Co.,Ltd.1,436,419.00GermanyGermanyTrade100.00%Businesscombinationunderthesamecontrol
FSL(Thailand)LightingTechnologyCo.,Ltd.21,393,145.55ThailandProductionandsales100.00%Newlyestablished
FoshanKelianNewEnergyTechnologyCo.,Ltd.170,000,000.00FoshanFoshanPropertydevelopment100.00%Businesscombinationunderthesamecontrol
Fozhao(Hainan)TechnologyCo.,Ltd.200,000,000.00HaikouHaikouProductionandsales100.00%Newlyestablished
ZhejiangHuleElectricalEquipmentManufacturingCo.,Ltd.29,000,000.00JiaxingJiaxingProductionandsales66.00%Acquired
ShanghaiLelaiteElectricalEquipmentCo.,Ltd.1,000,000.00ShanghaiShanghaiTrade36.30%Acquired
NanningLiaowangAutoLampCo.,Ltd.35,055,700.00NanningNanningManufacturingofvehiclelamps53.79%Acquired
LiuzhouGuigeLightingTechnologyCo.,Ltd.30,000,000.00LiuzhouLiuzhouManufacturingofvehiclelamps53.79%Acquired
NameofthesubsidiaryRegisteredcapitalMainoperatingplaceRegistrationplaceNatureofbusinessHoldingpercentageWayofgaining
DirectIndirect
LiuzhouGuigeFuxuanTechnologyCo.,Ltd.20,000,000.00LiuzhouLiuzhouManufacturingofautomotiveelectronicproducts53.79%Acquired
ChongqingGuinuoLightingTechnologyCo.,Ltd.30,000,000.00ChongqingChongqingManufacturingofvehiclelamps53.79%Acquired
QingdaoGuigeLightingTechnologyCo.,Ltd.30,000,000.00QingdaoQingdaoManufacturingofvehiclelamps53.79%Acquired
IndonesiaLiaowangAutoLampCo.,Ltd.40,873,066.42IndonesiaIndonesiaManufacturingofvehiclelamps53.79%Acquired
LiaowangAutoLamp(Suzhou)Co.,Ltd.25,000,000.00SuzhouSuzhouManufacturingofvehiclelamps53.79%Newlyestablished
FoshanSigmaVentureCapitalCo.,Ltd.50,000,000.00FoshanFoshanBusinessservices100.00%Businesscombinationunderthesamecontrol
FoshanNationStarOptoelectronicsCo.,Ltd.618,477,169.00FoshanFoshanElectronicmanufacturing21.48%Businesscombinationunderthesamecontrol
FoshanNationStarSemiconductorCo.,Ltd.820,000,000.00FoshanFoshanElectronicmanufacturing21.48%Businesscombinationunderthesamecontrol
FoshanGuoxingElectronicManufactureCo.,Ltd.10,000,000.00FoshanFoshanElectronicmanufacturing21.48%Businesscombinationunderthesamecontrol
NanyangBaoliVanadiumIndustryCo.,Ltd.100,000,000.00HenanNanyangMining12.89%Businesscombinationunderthesamecontrol
NameofthesubsidiaryRegisteredcapitalMainoperatingplaceRegistrationplaceNatureofbusinessHoldingpercentageWayofgaining
DirectIndirect
GuangdongNewElectronicInformationLtd.5,000,000.00GuangzhouGuangzhouTrade21.48%Businesscombinationunderthesamecontrol
GuangdongFenghuaSemiconductorTechnologyCo.,Ltd.200,000,000.00GuangzhouGuangzhouElectronicmanufacturing21.45%Businesscombinationunderthesamecontrol
GaozhouNationStarLightingTechnologyCo.,Ltd.30,000,000.00MaomingMaomingElectronicmanufacturing21.48%Newlyestablished
FozhaoHuaguang(Maoming)TechnologyCo.,Ltd.22,920,000.00MaomingMaomingProductionandsales100.00%Newlyestablished
BeijingAirtrustAviationTechnologyCo.,Ltd.50,000,000.00BeijingBeijingProductionandsales45.00%Acquired
Airstar(Tianjin)LightingCo.,Ltd.5,000,000.00TianjinTianjinProductionandsales45.00%Acquired

Notestoholdingproportioninsubsidiarydifferentfromvotingproportion:

Naught.Basisofholdinghalforlessvotingrightsbutstillcontrollingtheinvesteeandholdingmorethanhalfofthevotingrightsbutnotcontrollingtheinvestee:

Naught.Significantstructuralentitiesandcontrollingbasisinthescopeofcombination:

Naught.BasisofdeterminingwhethertheCompanyistheagentortheprincipal:

Naught.Othernotes;GuoxingElectronicManufacture,NationStarSemiconductor,BaoliVanadiumIndustry,NewElectronics,FenghuaSemiconductorandGaozhouNationStararesubsidiariesofNationStarOptoelectronics.

(2)SignificantNon-wholly-ownedSubsidiary

Unit:RMB

NameofthesubsidiaryShareholdingproportionofnon-controllinginterestsTheprofitorlossattributabletothenon-controllinginterestsDeclaringdividendsdistributedtonon-controllinginterestsBalanceofnon-controllinginterestsattheperiod-end
NanningLiaowangAutoLampCo.,Ltd.46.21%10,982,488.444,065,870.47491,046,739.52
FoshanNationStarOptoelectronicsCo.,Ltd.78.52%19,433,755.8824,282,863.703,004,357,842.15

Holdingproportionofnon-controllinginterestsinsubsidiarydifferentfromvotingproportion:

Naught.

(3)TheMainFinancialInformationofSignificantNotWholly-ownedSubsidiary

Unit:RMB

NameofthesubsidiaryEndingbalanceBeginningbalance
CurrentassetsNon-currentassetsTotalassetsCurrentliabilitiesNon-currentliabilitiesTotalliabilitiesCurrentassetsNon-currentassetsTotalassetsCurrentliabilitiesNon-currentliabilitiesTotalliabilities
NanningLiaowangAutoLampCo.,Ltd.1,653,822,384.87995,466,588.972,649,288,973.841,529,865,354.8656,797,492.271,586,662,847.131,797,594,099.171,017,666,828.522,815,260,927.691,674,102,278.7692,743,700.711,766,845,979.47
FoshanNationStarOptoelectronicsCo.,Ltd.3,709,105,028.912,393,535,293.436,102,640,322.341,993,434,921.60285,347,873.552,278,782,795.153,841,259,563.852,408,019,705.266,249,279,269.112,096,915,166.37328,202,453.192,425,117,619.56

Unit:RMB

NameofthesubsidiaryReportingPeriodSameperiodoflastyear
OperatingrevenueNetprofitTotalcomprehensiveincomeCashflowsfromoperatingactivitiesOperatingrevenueNetprofitTotalcomprehensiveincomeCashflowsfromoperatingactivities
NanningLiaowangAutoLampCo.,Ltd.914,845,763.0923,766,475.7523,010,159.2248,082,149.88835,320,128.9628,661,214.9227,445,527.7015,328,786.43
FoshanNationStarOptoelectronicsCo.,Ltd.1,681,244,438.5124,571,004.3824,571,004.38-6,708,763.721,853,708,942.9756,242,432.0056,242,432.00140,461,398.36

(4)SignificantRestrictionsonUsingtheAssetsandLiquidatingtheLiabilitiesoftheCompanyNaught.

(5)FinancialSupportorOtherSupportsProvidedtoStructuralEntitiesIncorporatedintotheScopeofConsolidatedFinancialStatementsNaught.

2.TheTransactionoftheCompanywithItsOwner’sEquityShareChangedbutStillControllingtheSubsidiary

(1)ChangesintheOwner'sEquityShareinSubsidiaries

NameofsubsidiaryShareholdingpercentagebeforethechangeShareholdingpercentageafterthechange
DirectIndirectDirectIndirect
FoshanHaolaiteLightingCo.,Ltd.51.00%10.53%100.00%

(2)ImpactoftheTransactiononMinorityShareholders'InterestsandEquityAttributabletotheParentCompany

Unit:RMB

FoshanHaolaiteLightingCo.,Ltd.
Purchasecost/disposalconsideration24,916,600.00
--Cash24,916,600.00
--Fairvalueofnon-cashassets
Totalpurchasecost/disposalconsideration24,916,600.00
Less:Shareofsubsidiary'snetassetscalculatedbasedonequityacquired/disposed26,569,825.61
Difference-1,653,225.61
Ofwhich:Adjustmenttocapitalreserve-1,653,225.61
Adjustmenttosurplusreserve
Adjustmenttoretainedearnings

3.EquityinJointVenturesorAssociatedEnterprises

(1)SignificantJointVenturesorAssociatedEnterprisesNaught.

(2)MainFinancialInformationofSignificantJointVenturesNaught.

(3)MainFinancialInformationofSignificantAssociatedEnterprisesNaught.

(4)SummaryFinancialInformationofInsignificantJointVenturesorAssociatedEnterprises

Unit:RMB

Endingbalance/ReportingPeriodBeginningbalance/Sameperiodoflastyear
Associatedenterprises:
Totalcarryingvalueofinvestment180,947,314.66180,300,594.89
Thetotaloffollowingitemsaccordingtotheshareholdingproportions
--Netprofit646,719.771,112,039.74
--Totalcomprehensiveincome646,719.771,112,039.74

(5)NotetotheSignificantRestrictionsontheAbilityofJointVenturesorAssociatedEnterprisestoTransferFundstotheCompanyNaught.

(6)TheExcessLossofJointVenturesorAssociatedEnterprisesNaught.

(7)TheUnrecognizedCommitmentRelatedtoInvestmenttoJointVenturesNaught.

(8)ContingentLiabilitiesRelatedtoInvestmenttoJointVenturesorAssociatedEnterprisesNaught.

4.SignificantCommonOperationNaught.

5.EquityintheStructuredEntityExcludedintheScopeofConsolidatedFinancialStatementsNotestothestructuredentityexcludedinthescopeofconsolidatedfinancialstatements:

Naught.

6.OthersNaught.

XI.GovernmentGrants

1.GovernmentGrantsRecognizedattheEndoftheReportingPeriodattheAmountReceivable

□Applicable?NotapplicableReasonsforfailingtoreceivegovernmentgrantsintheestimatedamountattheestimatedpointintime

□Applicable?Notapplicable

2.LiabilityItemsInvolvingGovernmentGrants?Applicable□Notapplicable

Unit:RMB

AccountingitemsBeginningbalanceAmountofnewlysubsidyAmountrecordedintonon-operatingincomeintheReportingPeriodAmountcarriedforwardotherincomeintheReportingPeriodOtherchangesintheReportingPeriodEndingbalanceRelatedtoassets/income
Deferredincome68,183,747.3827,697,519.139,681,661.1286,199,605.39Relatedtoassets
Deferredincome5,555,432.563,829,426.774,095,574.315,289,285.02Relatedtoincome

3.GovernmentGrantsRecognizedinProfitorLossfortheCurrentPeriod?Applicable□Notapplicable

Unit:RMB

AccountingitemsReportingPeriodSameperiodoflastyear
Otherincome23,389,446.3124,166,249.43

XII.RisksAssociatedwithFinancialInstruments

1.VariousTypesofRisksArisingfromFinancialInstrumentsTheprimaryfinancialinstrumentsoftheCompanyincludeequityinvestments,held-for-tradingfinancialassets,receivablesfinancing,billsreceivable,accountsreceivable,otherreceivables,othercurrentassets,otherdebt

investments,accountspayable,billspayable,otherpayables,short-termborrowings,long-termborrowings,etc.ThedetailsofeachfinancialinstrumentseerelevantitemsofNoteVII.ThemainrisksoftheCompanyduetofinancialinstrumentswerecreditrisk,liquidityriskandmarketrisk.TheoperatingmanagementoftheCompanywasresponsiblefortheriskmanagementtargetandtherecognitionofthepolicies.

(1)CreditRiskCreditriskwasonepartyofthecontractfailedtofulfiltheobligationsandcauseslossoffinancialassetsoftheotherparty.ThecreditrisktheCompanyfacedwassellingoncreditwhichleadstocustomercreditrisk.TheCompanywillevaluatecreditriskofnewcustomer,andsetcreditlimit,oncethebalanceofaccountreceivableovercreditlimit,requirethecustomertopayorproducinganddeliveringgoodsshallbeapprovedbythemanagementoftheCompany.TheCompanythroughmonthlyaginganalysisofaccountreceivableandmonitoringthecollectionsituationofthecustomerensuredtheoverallcreditriskoftheCompanywasincontrolscope.Onceappearabnormalsituation,theCompanyshouldconductnecessarymeasurestorequestingthepaymenttimely.

(2)LiquidityRiskLiquidityriskisreferredtotheirriskofincurringcapitalshortagewhenperformingsettlementobligationinthewayofcashpaymentorotherfinancialassets.ThepoliciesoftheCompanyaretoensurethattherewassufficientcashtopaythedueliabilities.TheliquidityriskiscentralisedcontrolledbytheFinancialDepartmentoftheCompany.TheliquidityriskiscentralizedcontrolledbytheFinancialManagementDepartmentoftheCompany.TheFinancialManagementDepartmentthroughsupervisingthebalanceofthecashandsecuritiescanbeconverttocashatanytimeandtherollingpredictionofcashflowinfuture12monthstoensuretheCompanyhavesufficientcashtopaytheliabilitiesunderthecaseofallreasonableprediction.

(3)MarketRiskMarketriskwasreferredtoriskofthefairvalueorfuturecashflowoffinancialinstrumentchangedduetothechangeofmarketprice,including:exchangeraterisk,interestrateriskandotherpricerisk.

1)ExchangeRateRiskExchangerateriskreferstotheriskoflossduetoexchangeratechanges.TheCompany’sexposuretoforeignexchangeriskismainlyrelatedtotheUSdollarandtheeuro.AsatJune30,2025,theCompany’sassetsandliabilitieswereinRMB,exceptforthebalancesofUSD,EUR,HKD,IDRandTHBassetoutinthisNoteVII-81,ForeignCurrencyMonetaryItems.ForeignexchangeriskarisingfromtheassetsandliabilitiesofsuchforeigncurrencybalancesmayhaveacertainimpactontheCompany’soperatingresults.TheCompanymadeeffortstoavoidexchangerateriskthroughforwardexchangesettlement,improvingoperationmanagementandpromotingtheinternationalcompetitivenessoftheCompany,etc.

2)InterestRateRiskInterestrateriskreferstofluctuationriskofthefairvalueorfuturecashflowoffinancialinstrumentchangeduetothechangeofmarketinterestrates.TheinterestrateriskfacedbytheCompanymainlycomesfrombankborrowings.Byestablishingagoodbank-enterpriserelationship,theCompanyreasonablydesignedthecreditline,creditvarietyandcreditperiod,ensuredsufficientcreditlineofbanks,andmetvariouslong-andshort-termfinancingneedsoftheCompanywithpreferentialloaninterestrates.AsatJune2025,theCompany’sfixedinterestrateloanbalancewasRMB477,474,879.14,accountingfor100%ofthetotalloanbalance.Therefore,themarketriskofinterestratechangesbornebytheCompanyisnotsignificant.

3)OtherPriceRiskTheGroup’sotherpricerisksariseprimarilyfrominvestmentsinequityinstruments,asthereistheriskofchangesinthepriceofequityinstruments.

AsatDecember2025,iftheexpectedpricesoftheGroup’svariousequityinstrumentinvestmentsincreaseordecreaseby1%,andotherfactorsremainunchanged,theGroupshallincreaseordecreasecomprehensiveincomebyapproximatelyRMB1,095,686.08(December31,2024:increasingordecreasingcomprehensiveincomebyapproximatelyRMB1,059,041.21).

2.Hedge

(1)TheCompanyCarriesoutHedgingBusinessforRiskManagement

□Applicable?Notapplicable

(2)TheCompanyConductsEligibleHedgingOperationsandAppliesHedgeAccountingNaught.

(3)TheCompanyConductsHedgingOperationsforRiskManagement,ExpectstoAchieveItsRiskManagementObjectives,butDoesNotApplyHedgeAccounting

□Applicable?Notapplicable

3.FinancialAssets

(1)ClassificationofTransferMethods?Applicable□Notapplicable

Unit:RMB

TransfermethodsNatureoffinancialassetstransferredAmountoffinancialassetstransferredDerecognitionBasisfordeterminingderecognition
BillsendorsementAccountsreceivablefinancing380,352,993.54YesDuetothelowcreditriskanddeferredpaymentriskofbankacceptancebillsinaccountsreceivablefinancing,andthetransferofinterestrateriskrelatedtothebillstothebank,itcanbeconcludedthatalmostallrisksandrewardsofownershipofthebillshavebeentransferred
BillsdiscountingAccountsreceivablefinancing163,507,644.82YesAlmostallrisksandrewardsrelatedtotheownershipofthebillshavebeentransferred
BillsdiscountingNotesreceivable63,254,781.83YesAlmostallrisksandrewardsrelatedtotheownershipofthebillshavebeentransferred
BillsendorsementNotesreceivable383,377,930.48NoRetainingalmostallrisksandrewards,includingdefaultrisksassociatedwiththem
CloudCreditAccounts1,050,000.00NoRetainingalmostallrisksandrewards,including
endorsementreceivabledefaultrisksassociatedwiththem
CloudCreditdiscountAccountsreceivable14,556,611.51NoRetainingalmostallrisksandrewards,includingdefaultrisksassociatedwiththem
Total1,006,099,962.18

(2)FinancialAssetsDerecognizedduetoTransfer?Applicable□Notapplicable

Unit:RMB

ItemWaysoftransferringfinancialassetsDerecognizedfinancialassetamountGainsorlossesrelatedtoderecognition
AccountsreceivablefinancingBillsendorsement380,352,993.54
AccountsreceivablefinancingBillsdiscounting163,507,644.82-793,787.18
NotesreceivableBillsendorsement63,254,781.83
Total607,115,420.19-793,787.18

(3)ContinuedInvolvementintheTransferofAssetsFinancialAssets?Applicable□Notapplicable

Unit:RMB

ItemAssettransfermethodsAmountofassetsformedduetocontinuousinvolvementAmountofliabilitiesformedduetocontinuousinvolvement
Notesreceivable383,377,930.48383,377,930.48
Ofwhich:Bank’sacceptancebillBillsendorsement382,982,915.48382,982,915.48
CommercialacceptancebillBillendorsement395,015.00395,015.00
AccountsreceivableCloudCreditendorsement1,050,000.001,050,000.00
AccountsreceivableCloudCreditdiscount14,556,611.5114,556,611.51
Total398,984,541.99398,984,541.99

XIII.TheDisclosureofFairValue

1.EndingFairValueofAssetsandLiabilitiesatFairValue

Unit:RMB

ItemEndingfairvalue
Level1FairvaluemeasurementLevel2FairvaluemeasurementLevel3FairvaluemeasurementTotal
I.Consistentfairvaluemeasurement--------
1.Tradingfinancialassets2,288,376.682,288,376.68
(1)Financialassetsatfairvaluethroughprofitorloss2,288,376.682,288,376.68
1)Equityinstrumentinvestment2,192,776.682,192,776.68
2)Other95,600.0095,600.00
2.OtherInvestmentsinDebtObligations1,155,317,713.391,155,317,713.39
3.Otherequityinstrumentinvestment700,354,868.3146,902,543.80747,257,412.11
4.Accountsreceivablefinancing380,276,549.15380,276,549.15
Totalassetsmeasuredatfairvalueonarecurringbasis702,643,244.991,155,317,713.39427,179,092.952,285,140,051.33
II.Inconsistentfairvaluemeasurement--------

2.BasisforDeterminingtheMarketValueofContinuingandDiscontinuingLevel1FairValueMeasurementItemsLevel1fairvaluemeasurementsaredeterminedbasedonthemarketpriceofequitiesatthebalancesheetdateandthemid-priceoftheRMBexchangeratepublishedbytheStateAdministrationofForeignExchangeasquotedpricesinanactivemarket.

3.ContinuingandDiscontinuingLevel2FairValueMeasurementItems,QualitativeandQuantitativeInformationontheValuationTechniquesUsedandSignificantParametersThefairvalueoffinancialproductsandotherdebtinvestmentsubscribedbytheGroupthataremeasuredatfairvalueisdeterminedbyreferencetotheexpectedrateofreturnprovidedbythefinancialinstitutions.

4.ContinuingandDiscontinuingLevel3FairValueMeasurementItems,QualitativeandQuantitativeInformationontheValuationTechniquesUsedandSignificantParameters

(1)TheCompanymeasuredtheinvestmentatcostasareasonableestimateoffairvaluebecausetherewerenosignificantchangesinthebusinessenvironmentandoperatingandfinancialconditionsoftheinvestee,GFBank.

(2)TheCompanymeasuredtheinvestee,ShenzhenZhonghao(Group)CompanyLimited,atnilasareasonableestimateoffairvalueduetothedeteriorationofitsbusinessenvironmentandoperatingandfinancialconditions.

(3)TheCompanymeasuredtheinvestmentatcostasareasonableestimateoffairvaluebecausetherewerenosignificantchangesinthebusinessenvironmentandoperatingandfinancialconditionsoftheinvesteecompanies,FoshanNanhaiDistrictUnitedGuangdongNewLightSourceIndustryInnovationCenter,BeijingGuangRongUnionSemiconductorLightingIndustryInvestmentCenterandGuangdongRisingFinanceCo.,Ltd.

(4)ThereceivablesfinancingrepresentsbankacceptancenotesheldbytheCompanywithashortremainingmaturity,thefacevalueofwhichapproximatesthefairvalueandthefaceamountisusedtorecognizethefairvalueatthestatementdate.

5.ConsistentFairValueMeasurementItemsatLevel3,AdjustmentbetweentheBeginningCarryingValueandtheEndingCarryingValueandSensitivityAnalysisonUnobservableParametersNaught.

6.ExplaintheReasonforConversionandtheGoverningPolicywhentheConversionHappensifConversionHappensamongConsistentFairValueMeasurementItemsatDifferentLevelsNaught.

7.ChangesinValuationTechniquesintheReportingPeriodandReasonsfortheChangesNaught.

8.FairValueofFinancialAssetsandLiabilitiesNotMeasuredatFairValueFinancialassetsandliabilitiesnotmeasuredatfairvalueinclude:monetaryassets,accountsreceivableandaccountspayable,etc.Thereissmalldifferencebetweenthecarryingvalueofabovefinancialassetsandliabilitiesandfairvalue.

9.OthersNaught.

XIV.RelatedPartyandRelated-partyTransactions

1.InformationontheCompanyastheParent

CompanynameRegistrationplaceNatureofbusinessRegisteredcapitalProportionofshareheldbytheCompanyastheparentagainsttheCompany(%)ProportionofvotingrightsownedbytheCompanyastheparentagainsttheCompany(%)
HongkongWahShingHoldingCompanyLimitedHongKongInvestmentHKD110,00012.85%12.85%
GuangdongRisingHoldingsGroupCo.,Ltd.GuangzhouInvestmentRMB10billion8.45%8.45%
GuangdongElectronicsInformationIndustryGroupLtd.GuangzhouProductionandsalesRMB1,162million9.35%9.35%
RisingInvestmentDevelopmentLimitedHongKongInvestmentRMB420millionandHKD1million1.66%1.66%
Total32.31%32.31%

NotestotheCompanyastheparentHongkongWahShingHoldingCompanyLimited(hereinafterreferredtoas“HongkongWahShing”),thelargestshareholderoftheCompany,isawholly-ownedsubsidiaryofGuangdongElectronicsInformationIndustryGroupLtd.(hereinafterreferredtoas“ElectronicsGroup”),andElectronicsGroupandRisingInvestmentDevelopmentLimited(hereinafterreferredtoas“RisingInvestment”)arewholly-ownedsubsidiariesofGuangdongRisingHoldingsGroupCo.,Ltd.(hereinafterreferredtoas“RisingHoldingsGroup”).AccordingtotherelevantprovisionsoftheCompanyLawandtheMeasuresfortheAdministrativeMeasuresonAcquisitionofListedCompanies,HongkongWahShing,ElectronicsGroup,andRisingInvestmentareconcertedactorsofRisingHoldingsGroup,andRisingHoldingsGroupistheactualcontrolleroftheCompany.AsatJune30,2025,thetotalproportionofsharesheldbyRisingHoldingsGroupanditsconcertedactorswas32.31%.ThefinalcontrolleroftheCompanyisGuangdongRisingHoldingsGroupCo.,Ltd.

2.SubsidiariesoftheCompanyRefertoNoteXEquityinOtherEntities-1.EquityinSubsidiariesfordetailsoftheCompany’ssubsidiaries.

3.InformationontheJointVenturesandAssociatedEnterprisesoftheCompanyRefertoNoteXEquityinOtherEntities-3.EquityinJointVenturesorAssociatedEnterprisesfordetailsofsignificantjointventuresorassociatedenterprisesoftheCompany.

4.InformationonOtherRelatedParties

NameofotherrelatedpartiesRelationshipwiththeCompany
PROSPERITYLAMPS&COMPONENTSLTDShareholderowningover5%shares
GuangdongZhongnanConstructionCo.,Ltd.Undersameactualcontroller
GuangzhouHaixinshaIndustrialCo.,Ltd.Undersameactualcontroller
GuangdongFenghuaAdvancedTechnology(Holding)Co.,Ltd.Undersameactualcontroller
GuangdongYixinChangchengConstructionGroupUndersameactualcontroller
ShenzhenYuepengConstructionCo.,Ltd.Undersameactualcontroller
PrimatronixNanhoTechnologyLtd.Undersameactualcontroller
GuangdongHuajianEnterpriseGroupCo.,Ltd.Undersameactualcontroller
GuangdongXintaoMicroelectronicsCo.,Ltd.Undersameactualcontroller
GuangzhouShengfengCateringManagementServiceCo.,Ltd.Undersameactualcontroller
GuangdongRisingCulturalIndustryDevelopmentCo.,Ltd.Undersameactualcontroller
ShenzhenYuedinPreciseMachineryCo.,Ltd.Undersameactualcontroller
GuangdongFenghuaNewEnergyCo.,Ltd.Undersameactualcontroller
GuangdongZhongrenGroupConstructionCo.,Ltd.Undersameactualcontroller
ZhuhaiDongjiangEnvironmentalProtectionTechnologyCo.,Ltd.Undersameactualcontroller
GuangdongSemiconductorDeviceFactoryUndersameactualcontroller
GuangdongZhuyuanConstructionEngineeringCo.,Ltd.Undersameactualcontroller
ShenzhenZhongjinLingnanNonfemetCo.,Ltd.Undersameactualcontroller
NameofotherrelatedpartiesRelationshipwiththeCompany
GuangdongZhongjinLingnanEngineeringTechnologyCo.,Ltd.Undersameactualcontroller
ShandongZhongjinLingnanCopperCo.,Ltd.Undersameactualcontroller
ShantouRisingInfrastructureConstructionInvestmentCo.,Ltd.Undersameactualcontroller
GuangdongHuajianEngineeringConstructionCo.,Ltd.Undersameactualcontroller
GuangdongRisingFinanceCo.,Ltd.Undersameactualcontroller
GuangdongRisingCommercialDevelopmentCo.,Ltd.Undersameactualcontroller
GuangdongRisingMiningGroupCo.,Ltd.Undersameactualcontroller
GuangzhouWanshunInvestmentManagementCo.,Ltd.Undersameactualcontroller
FoshanFulongEnvironmentalTechnologyCo.,Ltd.Undersameactualcontroller
ShenzhenLonggangDongjiangIndustrialWasteTreatmentCo.,Ltd.Undersameactualcontroller
JiangmenDongjiangEnvironmentalCompanyLimitedUndersameactualcontroller
RamadaPearlHotelGuangzhouUndersameactualcontroller
GuangzhouHuajianBusinessDevelopmentCo.,Ltd.Undersameactualcontroller
GuangdongRisingUrbanServicesCo.,Ltd.Undersameactualcontroller
GuangdongRisingHydrogenEnergyCo.,Ltd.Undersameactualcontroller
ZhuhaiDoumenDistrictYongxingshengEnvironmentalIndustryWasteRecoveryandComprehensiveTreatmentCo.,Ltd.Undersameactualcontroller
GuangdongRisingResearchandDevelopmentInstituteCo.Ltd.Undersameactualcontroller
Prosperity(China)ElectricalCompanyLimitedEnterprisecontrolledbyrelatednaturalperson
TraxonTechnologiesLimitedEnterprisecontrolledbyrelatednaturalperson
NanningRuixiangIndustrialInvestmentCo.,Ltd.Enterprisesignificantlyaffectedbyrelatednaturalperson

5.TransactionswithRelatedParties

(1)InformationonAcquisitionofGoodsandReceptionofLaborServiceInformationonacquisitionofgoodsandreceptionoflaborservice

Unit:RMB

RelatedpartyNatureoftransactionReportingPeriodTheapprovaltradecreditWhetherexceedtradecreditornotSameperiodoflastyear
GuangdongXintaoMicroelectronicsCo.,Ltd.Purchaseofmaterials2,042,234.0058,500,000.00No
GuangdongRisingHoldingsGroupCo.,Ltd.Receivingoflaborservice1,333,182.30
ShenzhenYuepengConstructionCo.,Ltd.Receivingoflaborservice333,072.461,886,492.75
PrimatronixNanhoTechnologyLtd.Receivingoflaborservice216,716.81114,801.77
ShenzhenYuedingPreciseMachineryCo.,Ltd.Purchaseofmaterials191,766.31
GuangdongRisingHydrogenEnergyCo.,Ltd.Receivingoflaborservice81,637.17
ZhuhaiDongjiangEnvironmentalProtectionTechnologyCo.,Ltd.Receivingoflaborservice81,304.53271,319.56
ShenzhenYuedingPreciseMachineryCo.,Ltd.Receivingoflaborservice64,955.76
RelatedpartyNatureoftransactionReportingPeriodTheapprovaltradecreditWhetherexceedtradecreditornotSameperiodoflastyear
GuangdongElectronicsInformationIndustryGroupLtd.Receivingoflaborservice60,156.76
GuangdongFenghuaNewEnergyCo.,Ltd.Receivingoflaborservice57,430.97
ShenzhenLonggangDongjiangIndustrialWasteTreatmentCo.,Ltd.Receivingoflaborservice22,058.1514,375.09
ZhuhaiDoumenDistrictYongxingshengEnvironmentalIndustryWasteRecoveryandComprehensiveTreatmentCo.,Ltd.Receivingoflaborservice7,907.504,528.30
FoshanFulongEnvironmentalTechnologyCo.,Ltd.Receivingoflaborservice3,021.3070,467.96
JiangmenDongjiangEnvironmentalCompanyLimitedReceivingoflaborservice2,169.812,169.81
GuangdongElectronicsInformationIndustryGroupLtd.Purchaseofmaterials1,911.50
PrimatronixNanhoTechnologyLtd.Purchaseofmaterials16,672.57
RelatedpartyNatureoftransactionReportingPeriodTheapprovaltradecreditWhetherexceedtradecreditornotSameperiodoflastyear
GuangzhouShengfengCateringManagementServiceCo.,Ltd.Receivingoflaborservice3,935,965.9915,000,000.00No1,362,571.29
GuangdongRisingUrbanServicesCo.,Ltd.Receivingoflaborservice582,602.76
GuangdongRisingCulturalIndustryDevelopmentCo.,Ltd.Receivingoflaborservice109,742.885,740.00
GuangdongRisingCommercialDevelopmentCo.,Ltd.Receivingoflaborservice38,879.9942,887.72
RamadaPearlHotelGuangzhouReceivingoflaborservice35,725.28
GuangdongFenghuaAdvancedTechnologyHoldingCo.,Ltd.Purchaseofmaterials3,762,628.4424,100,000.00No2,264,120.89
GuangzhouHaixinshaIndustrialCo.,Ltd.Receivingoflaborservice1,373,791.7517,000,000.00No513,226.63
GuangdongHuajianEnterpriseGroupCo.,Ltd.Receivingoflaborservice1,358,026.48
GuangzhouHuajianBusinessDevelopmentReceivingoflaborservice112,044.0287,421.36
RelatedpartyNatureoftransactionReportingPeriodTheapprovaltradecreditWhetherexceedtradecreditornotSameperiodoflastyear
Co.,Ltd.
ProsperityLamps&ComponentsLimitedPurchaseofmaterials40,604.451,000,000.00No
GuangdongZhongnanConstructionCo.,Ltd.Receivingoflaborservice49,179,363.76No8,266,347.72
GuangdongZhongrenGroupConstructionCo.,Ltd.Receivingoflaborservice18,348,623.85No2,407,583.18
GuangdongYixinChangchengConstructionGroupReceivingoflaborserviceNo47,493,226.47
Total83,377,524.98115,600,000.00No64,823,953.07

Informationofsalesofgoodsandprovisionoflaborservice

Unit:RMB

RelatedpartyNatureoftransactionReportingPeriodSameperiodoflastyear
GuangdongFenghuaAdvancedTechnology(Holding)Co.,Ltd.Saleofproducts4,728,179.444,572,650.62
PROSPERITYLAMPS&COMPONENTSLIMITEDSaleofproducts4,405,252.255,732,428.94
TraxonTechnologiesLimitedSaleofproducts2,298,878.91
PrimatronixNanhoTechnologyLtd.Saleofproducts973,112.50
GuangdongXintaoMicroelectronicsCo.,Ltd.Saleofproducts411,591.87
RelatedpartyNatureoftransactionReportingPeriodSameperiodoflastyear
GuangdongZhuyuanConstructionEngineeringCo.,Ltd.Saleofproducts31,156.00
GuangdongZhongrenGroupConstructionCo.,Ltd.Saleofproducts2,953.27
GuangdongRisingMiningGroupCo.,Ltd.Saleofproducts99,577.88
GuangzhouWanshunInvestmentManagementCo.,Ltd.Saleofproducts59,565.75
ShandongZhongjinLingnanCopperCo.,Ltd.Saleofproducts9,102.65
GuangdongYixinChangchengConstructionGroupSaleofproducts121,035.60
PrimatronixNanhoTechnologyLtd.Renderingofservices22,166.04
Total12,873,290.2810,594,361.44

Notestoacquisitionofgoodsandreceptionoflaborservice

1.Thepricingpolicyforrelated-partytransactionsbetweentheCompanyanditsrelatedpartiesisasfollows:

Thepricingofrelated-partytransactionsshouldbemarket-orientedandsubjecttothemarketpriceswhensuchatransactionoccurs.Therelevantfundsshouldbepaidontimeaccordingtotheactualtransaction.

2.Therelated-partytransactionsbetweentheCompanyanditssubsidiariesandbetweensubsidiarieshavebeenoffsetduringreportconsolidation.

(2)ConnectedTransactionswiththeCompanyasEntrustee/ContractororEntruster/ContracteeTheCompanyasentrustee/contractor:

Naught.TheCompanyasentruster/contractee:

Unit:RMB

Nameoftheentruster/contracteeNameoftheentrustee/contractorTypeStartdateDuedatePricingbasisIncomerecognizedinthisCurrentPeriod
FoshanNationStarOptoelectronicsCo.,Ltd.GuangdongZhongrenGroupConstructionCo.,LtdDecember30,2020December31,2022
FoshanElectricalandLightingCo.,Ltd.GuangdongYixinChangchengConstructionGroupMay28,2021December29,2022
FoshanElectricalandLightingCo.,Ltd.GuangdongYixinChangchengConstructionGroupMarch1,2022December11,2022
FoshanKelianNewEnergyTechnologyCo.,Ltd.GuangdongZhongnanConstructionCo.,Ltd.June23,2021December23,2022
FoshanKelianNewEnergyTechnologyCo.,Ltd.GuangdongHuajianEnterpriseGroupCo.,Ltd.January1,2025December31,2033

Notes:

1.TheCompany’ssubsidiaryFoshanNationStarOptoelectronicsCo.,Ltd.enteredintotheGeneralContractingContractofNationStarOptoelectronicsfortheSurvey,Design,andConstructionoftheGeelyIndustrialParkwithGuangdongZhongrenGroupConstructionCo.,Ltd.,GuangdongArchitecturalDesign&ResearchInstituteCo.,Ltd.,andCSICInternationalEngineeringCo.,Ltd.onDecember30,2020.Theabovepartiestakechargeofthesurvey,design,andconstructionoftheGeelyIndustrialPark.ThetotalpriceofthecontractisRMB509,292,500.

2.TheCompanyenteredintotheGeneralContractingContractofFoshanElectricalandLightingCo.,Ltd.fortheDesignandConstructionoftheOfficeBuildingsofGaomingHeadquartersProductionBasePhaseIIwithGuangdongYixinChangchengConstructionGroupCo.,Ltd.andGuangdongArchitecturalDesign&ResearchInstituteCo.,Ltd.onMay28,2021.TheabovepartiestakechargeofthedesignandconstructionofGaomingofficebuildings.ThetotalpriceofthecontractisRMB175,025,600,andtheplannedtotalconstructionperiodis560calendardays(560daysforconstructionincluding90daysfordesign).AsatthedateofthisReport,theprojecthaspassedthecompletionacceptancecheck.

3.OnMarch1,2022,theCompanysignedaGeneralContractforDesignandConstructionoftheSmartLEDLightingProductionFactoryBuildings1-3attheGaomingProductionBaseofFoshanElectricalandLightingCo.,Ltd.withGuangdongYixinGreatWallConstructionGroupCo.,Ltd.andGuangdongArchitecturalDesign&

ResearchInstituteCo.,Ltd.TheaforementionedcompanieswereresponsibleforthedesignandconstructionofthethreebuildingsinGaoming.ThetentativetotalcontractvaluewasRMB129,991,400,withaplannedtotalconstructionperiodof285calendardays(30daysfordesignand255daysforconstruction).Theprojecthasnowbeencompletedandaccepted.

4.OnJune23,2021,theCompany’ssubsidiaryFoshanKelianNewEnergyTechnologyCo.,Ltd.signedaGeneralContractforDesignandConstructionoftheDecorationEngineeringofKelianBuildingwithGuangdongZhongnanConstructionCo.,Ltd.andGuangdongArchitecturalDesign&ResearchInstituteCo.,Ltd.Theaforementionedcompanieswereresponsiblefortheinteriordesignandconstructionofthebuilding.ThetentativetotalcontractvaluewasRMB189,070,200,withaplannedtotalconstructionperiodof240calendardays(60daysfordesign,and210daysforBuilding2and240daysforBuilding1).Theconstructionperiodfortheself-usefloorsstartsfromtheactualcommencementofconstruction.Theprojecthasnowbeencompleted,withtheself-usefloorsofBuilding2havingpassedacceptance,andthepropertymanagementcompanyiscurrentlyconductingthehandoverprocessforBuilding1.

5.OnApril21,2023,theCompany’ssubsidiaryFoshanKelianNewEnergyTechnologyCo.,Ltd.signedtheKelianBuildingOperationandLeasingServiceContractandtheKelianBuildingPropertyManagementServiceContractwithHuajianGroup.Theindustrial(R&Dcenter)area(locatedinBuilding1),commercial(serviceapartments),commercial(shops),andpartoftheundergroundparkinglot,totaling70,340.04squaremeters,wereentrustedtoHuajianGroupforoperationandleasing.Theoperationandleasingserviceperiodis10yearsfromJanuary1,2025.

(3)InformationonConnectedLeaseTheCompanywaslessor:

Unit:RMB

NameoflesseeTypeofassetsleasedTheleaseincomeconfirmedintheReportingPeriodTheleaseincomeconfirmedinthesameperiodoflastyear
GuangdongRisingResearchandDevelopmentInstituteCo.,Ltd.anditsmajority-ownedsubsidiariesPlant746,120.71647,933.71

TheCompanyservedasthelessee:

Unit:RMB

NameoflessorTypeofassetsleasedRentalexpensesofshort-termleasesimplifiedtreatedandlow-valueassetlease(ifapplicable)Variableleasepaymentsnotincludedinthemeasurementofleaseliabilities(ifapplicable)PaidrentIncomeexpenseofleaseliabilitiesundertakenIncreasedright-of-useassets
ReportingPeriodSameperiodoflastyearReportingPeriodSameperiodoflastyearReportingPeriodSameperiodoflastyearReportingPeriodSameperiodoflastyearReportingPeriodSameperiodoflastyear
GuangdongRisingCommercialDevelopmentCo.,Ltd.Buildingsandstructures31,706.00166,520.0513,312.483,420.801,057,213.99291,156.20
GuangdongRisingHoldingsGroupCo.,Ltd.Buildingsandstructures2,406,864.12221,988.14
NanningRuixiangIndustrialInvestmentCo.,Buildingsandstructures8,000.006,000.00
NameoflessorTypeofassetsleasedRentalexpensesofshort-termleasesimplifiedtreatedandlow-valueassetlease(ifapplicable)Variableleasepaymentsnotincludedinthemeasurementofleaseliabilities(ifapplicable)PaidrentIncomeexpenseofleaseliabilitiesundertakenIncreasedright-of-useassets
ReportingPeriodSameperiodoflastyearReportingPeriodSameperiodoflastyearReportingPeriodSameperiodoflastyearReportingPeriodSameperiodoflastyearReportingPeriodSameperiodoflastyear
Ltd.

(4)ConnectedGuaranteeNaught.

(5)InterbankBorrowingandLendingofCapitalbyConnectedPartyNaught.

(6)InformationonAssetsTransferandDebtRestructuringbyRelatedPartyNaught.

(7)InformationonRemunerationforKeyManagementPersonnel

Unit:RMB

ItemReportingPeriodSameperiodoflastyear
ChairmanoftheBoard463,921.43412,195.28
GeneralManager446,431.33481,683.12
ChairmanoftheSupervisoryCommittee426,785.10615,288.82
SecretaryoftheBoard500,892.14418,182.04
ChiefFinancialOfficer368,082.70475,438.92
Others4,023,167.192,568,209.82
Total6,229,279.894,970,998.00

(8)OtherConnectedTransactionsInaccordancewiththeFinancialServiceAgreementnewlysignedbytheCompanyin2025,thetotalmaximumdailydepositbalanceoftheCompanyanditsholdingsubsidiariesdepositedinGuangdongRisingFinanceCo.,Ltd.shallnotexceedRMB1.5billion,andthegeneralcreditlimitprovidedbyGuangdongRisingFinanceCo.,Ltd.fortheCompanyanditsholdingsubsidiariesshallnotexceedRMB2billion.AsatJune30,2025,thedepositbalanceoftheCompanyanditsholdingsubsidiariesdepositedinGuangdongRisingFinanceCo.,Ltd.isRMB1251.0619million.TheoutstandinginterestreceivableisRMB5.1018million.

6.ReceivablesfromandPayablestoRelatedParties

(1)AccountsReceivable

Unit:RMB

NameofprojectRelatedpartyEndingbalanceBeginningbalance
CarryingamountProvisionforimpairmentCarryingamountProvisionforimpairment
Monetarycapital-accruedinterestGuangdongRisingFinanceCo.,Ltd.5,004,016.435,153,062.03
Othercurrentassets-accruedinterestGuangdongRisingFinanceCo.,Ltd.97,777.78105,555.56
AccountsProsperityLamps&3,225,236.4896,757.092,558,600.7476,758.02
NameofprojectRelatedpartyEndingbalanceBeginningbalance
CarryingamountProvisionforimpairmentCarryingamountProvisionforimpairment
receivableComponentsLimited
AccountsreceivableGuangdongFenghuaAdvancedTechnologyHoldingCo.,Ltd.2,344,510.4846,890.215,584,276.94111,685.54
AccountsreceivableGuangdongYixinChangchengConstructionGroup2,332,537.86820,038.742,332,537.86623,014.72
AccountsreceivableGuangdongZhongnanConstructionCo.,Ltd.911,495.28171,244.553,453,458.25422,680.16
AccountsreceivableShantouRisingInfrastructureConstructionInvestmentCo.,Ltd.746,660.4022,399.811,555,346.6846,660.40
AccountsreceivableGuangdongZhuyuanConstructionEngineeringCo.,Ltd.510,276.7151,027.67510,276.7151,027.67
AccountsreceivableShenzhenZhongjinLingnanNonfemetCo.,Ltd.504,147.0097,306.70504,147.0050,414.70
AccountsreceivableGuangdongXintaoMicroelectronicsCo.,Ltd.405,382.818,107.66355,473.157,109.46
AccountsreceivableGuangdongZhongrenGroupConstructionCo.,Ltd.158,114.2015,577.82239,918.2223,991.82
AccountsreceivableGuangdongZhongjinLingnanEngineeringTechnologyCo.,Ltd.138,827.0013,882.70138,827.0013,882.70
AccountsreceivableGuangdongHuajianEngineeringConstructionCo.,44,297.0039,024.5144,297.0035,437.60
NameofprojectRelatedpartyEndingbalanceBeginningbalance
CarryingamountProvisionforimpairmentCarryingamountProvisionforimpairment
Ltd.
AccountsreceivableGuangdongRisingHoldingsGroupCo.,Ltd.15,206.961,520.7015,206.961,520.70
AccountsreceivableShandongZhongjinLingnanCopperCo.,Ltd.10,286.001,028.6010,286.00308.58
NotesreceivableGuangdongFenghuaAdvancedTechnologyHoldingCo.,Ltd.3,242,258.87
PrepaymentsProsperity(China)ElectricalCompanyLimited39,428.0039,428.00
PrepaymentsGuangdongFenghuaAdvancedTechnologyHoldingCo.,Ltd.148.68148.68
PrepaymentsGuangdongRisingUrbanServicesCo.,Ltd.60,317.70
PrepaymentsGuangdongRisingHoldingsGroupCo.,Ltd.13,959.24
OtherreceivablesGuangdongHuajianEnterpriseGroupCo.,Ltd.2,587,607.38223,989.022,587,607.38203,049.97
OtherreceivablesGuangdongSemiconductorDeviceFactory816,441.49816,441.49816,441.49816,441.49
OtherreceivablesGuangdongRisingHoldingsGroupCo.,Ltd.587,979.0417,622.46586,288.0417,588.64
OtherreceivablesNanningRuixiangIndustrialInvestmentCo.,Ltd.5,000.00500.005,000.00500.00
NameofprojectRelatedpartyEndingbalanceBeginningbalance
CarryingamountProvisionforimpairmentCarryingamountProvisionforimpairment
OtherreceivablesGuangdongZhongrenGroupConstructionCo.,Ltd.304.3130.43304.3130.43
OtherreceivablesGuangdongGuangshengCommercialDevelopmentCo.,Ltd.74,761.926,868.51
Total23,727,940.162,443,390.1626,745,526.862,508,971.11

(2)AccountsPayable

Unit:RMB

NameofprojectRelatedpartyEndingcarryingbalanceBeginningcarryingbalance
NotespayableGuangdongXintaoMicroelectronicsCo.,Ltd.1,253,375.42
NotespayableGuangdongFenghuaAdvancedTechnologyHoldingCo.,Ltd.1,037,580.11119,158.00
NotespayableGuangdongElectronicsInformationIndustryGroupLtd.150,000.00
NotespayablePrimatronixNanhoTechnologyLtd.74,812.50
AccountspayableGuangdongZhongrenGroupConstructionCo.,Ltd.81,073,448.5599,422,072.40
AccountspayableGuangdongFenghuaAdvancedTechnologyHoldingCo.,Ltd.2,656,061.793,976,905.41
AccountspayableShenzhenYuepengConstructionCo.,Ltd.1,381,887.301,381,887.30
AccountspayableGuangdongElectronicsInformationIndustryGroupLtd.569,200.00638,973.44
AccountspayableGuangdongXintaoMicroelectronicsCo.,Ltd.387,206.242,560,606.36
NameofprojectRelatedpartyEndingcarryingbalanceBeginningcarryingbalance
AccountspayableGuangzhouHaixinshaIndustrialCo.,Ltd.240,676.001,003,260.00
AccountspayableShenzhenYuedinPreciseMachineryCo.,Ltd.191,766.31
AccountspayableGuangzhouShengfengCateringManagementServiceCo.,Ltd.104,139.1399,516.27
AccountspayableGuangdongFenghuaNewEnergyCo.,Ltd.50,800.0053,946.92
AccountspayableProsperityLamps&ComponentsLimited40,604.45
AccountspayableGuangdongRisingCulturalIndustryDevelopmentCo.,Ltd.32,733.1614,567.75
AccountspayablePrimatronixNanhoTechnologyLtd.11,898.0095,998.00
AccountspayableZhuhaiDongjiangEnvironmentalProtectionTechnologyCo.,Ltd.2,667.91
AccountspayableNanningRuixiangIndustrialInvestmentCo.,Ltd.2,000.00
AccountspayableShenzhenLonggangDongjiangIndustrialWasteTreatmentCo.,Ltd.7,352.40
OtherpayablesNanningRuixiangIndustrialInvestmentCo.,Ltd.79,046,577.4891,046,577.48
OtherpayablesGuangdongZhongnanConstructionCo.,Ltd.60,172,552.2038,499,432.70
OtherpayablesGuangdongYixinChangchengConstructionGroup44,951,543.7152,340,650.63
OtherpayablesGuangdongFenghuaAdvancedTechnologyHoldingCo.,Ltd.5,035,015.075,035,015.07
OtherpayablesGuangdongHuajianEnterpriseGroupCo.,Ltd.4,565,714.655,215,652.63
OtherpayablesShenzhenYuepengConstructionCo.,Ltd.549,689.05499,150.37
OtherpayablesGuangzhouShengfengCatering379,000.00347,000.00
NameofprojectRelatedpartyEndingcarryingbalanceBeginningcarryingbalance
ManagementServiceCo.,Ltd.
OtherpayablesGuangdongRisingHoldingsGroupCo.,Ltd.279,184.78
OtherpayablesPrimatronixNanhoTechnologyLtd.13,624.0013,624.00
OtherpayablesGuangdongXintaoMicroelectronicsCo.,Ltd.8,429.408,429.40
OtherpayablesGuangdongElectronicsInformationIndustryGroupLtd.5,000.00
Contractliabilities,othercurrentliabilitiesProsperityLamps&ComponentsLimited56,542.0059,428.00
Contractliabilities,othercurrentliabilitiesPrimatronixNanhoTechnologyLtd.218,729.24
OthercurrentliabilitiesNanningRuixiangIndustrialInvestmentCo.,Ltd.2,000,000.00
OthercurrentliabilitiesGuangdongFenghuaAdvancedTechnologyHoldingCo.,Ltd.960,985.42693,580.58
OthercurrentliabilitiesGuangdongZhongnanConstructionCo.,Ltd.907,211.60
OthercurrentliabilitiesGuangzhouHaixinshaIndustrialCo.,Ltd.801,331.52464,919.17
OthercurrentliabilitiesGuangdongZhongrenGroupConstructionCo.,Ltd.150,000.00
Total288,918,445.25304,041,246.02

7.CommitmentsoftheRelatedParties

No.CommitmentPromisorDateofcommitmentmakingTermofcommitmentFulfillment
1AboutavoidanceofhorizontalcompetitionElectronicsGroupandHongKongRisingInvestmentDecember04,2015Long-termOngoing
RisingHoldingsGroupNovember04,2021Long-termOngoing
RisingHoldingsGroup,RisingCapital,andHongkongWahShingOctober27,2021Long-termOngoing
2Aboutreductionandregulationofrelated-partytransactionsElectronicsGroupandHongKongRisingInvestmentDecember4,2015Long-termOngoing
RisingHoldingsGroupNovember4,2021Long-termOngoing
RisingHoldingsGroup,RisingCapital,andHongkongWahShingOctober27,2021Long-termOngoing
3AboutindependenceElectronicsGroupandHongKongRisingInvestmentDecember4,2015Long-termOngoing
RisingHoldingsGroupNovember4,2021Long-termOngoing
4AbouteffectiveperformanceofmeasurestofillupreturnsRisingHoldingsGroup,RisingCapital,ElectronicsGroup,HongkongWahShing,HongKongRisingInvestmentandShenzhenRisingInvestmentOctober27,2021Long-termOngoing
5AboutcompensationforpossibleviolationsoflawsandregulationsbyNATIONSTAROPTOELECTRONICSRisingHoldingsGroup,ElectronicsGroup,andRisingCapitalOctober27,2021Long-termOngoing
6Aboutthetruthfulness,accuracyandcompletenessoftheinformationprovidedduringthismajorassetrestructuringRisingHoldingsGroup,ElectronicsGroup,andRisingCapitalOctober27,2021Long-termOngoing
DirectorandseniormanagementofficeOctober27,Long-termOngoing
ofFSL2021
7AbouttheclarityoftheunderlyingassetsofthismajorassetrestructuringElectronicsGroupOctober27,2021Long-termOngoing
RisingHoldingsGroupandRisingCapitalOctober27,2021Long-termOngoing
8AboutmeasurestofillupreturnsforrisksarisingfromdilutingimmediatereturninmajorassetrestructuringDirectorandseniormanagementofficeofFSLOctober27,2021Long-termOngoing
9AboutthemeasurestofillupimmediatereturnsdilutedbytheissuanceofA-sharestospecificobjectsin2023DirectorandseniormanagementofficeofFSLMarch14,2023Long-termOngoing
10Aboutmattersonspecialself-inspectionoftherealestatebusinessDirectorsandseniormanagementofFSL,RisingHoldingsGroup,ElectronicsGroup,HongkongWahShing,HongKongRisingInvestmentMarch14,2023Long-termOngoing
11AbouttheeffectivefulfilmentofmeasurestakenbycontrollingshareholdersanddefactocontrollertofillupimmediatereturnsRisingHoldingsGroup,ElectronicsGroup,HongkongWahShing,HongKongRisingInvestmentMarch14,2023Long-termOngoing
12NotificationLetterRegardingtheIncreaseinFoshanLightingSharesElectronicsGroupNovember18,2024Withinsixmonthsstartingfrom20November2024.Completed

8.OtherNaught.

XV.Share-basedPayment

1.OverviewofShare-basedPayments

□Applicable?Notapplicable

2.Equity-settledShare-basedPayments

□Applicable?Notapplicable

3.TheStockPaymentSettledinCash

□Applicable?Notapplicable

4.Share-BasedPaymentExpensesforthePeriod

□Applicable?Notapplicable

5.ModificationandTerminationofShare-basedPaymentNaught.

6.OthersNaught.XVI.CommitmentsandContingency

1.SignificantCommitmentsSignificantcommitmentsonthebalancesheetdateCommitmentonthedevelopmentofHaikouplotInNovember2021,HainanTechnology,awholly-ownedsubsidiaryoftheCompany,acquiredanindustriallandlocatedinMei’anScienceandTechnologyNewCity,Haikou,withalandareaof34,931.13squaremetersandalandpriceofRMB26,596,784.43.Inthesamemonth,HainanTechnologysignedtheAgreementonIndustrialProjectDevelopmentandLandAccesswithHaikouNationalHigh-techIndustrialDevelopmentZoneManagementCommittee(hereinafterreferredtoasthe“HaikouDevelopmentZoneManagementCommittee”).Theagreementstipulatesthattheabove-mentionedplotisusedforthedevelopmentofmarinelightingR&Dandmanufacturingbaseprojects,andtheinvestmentoffixedassetsisapproximatelyRMB314million(includingplants,equipment,andland,equivalenttoRMB6millionpermu.HainanTechnologypromisestocompletetheplanningschemedesignwithintwomonthsfromthedateofsigningtheConfirmationofListingandTransferringtheRighttoUseState-ownedConstructionLand;completetheconstructiondrawingdesignwithinthreemonthsaftercompletingtheplanningschemedesignandobtaintheBuildingConstructionPermitsandstartconstructionatthesametime(subjecttothefoundationconcretepouringofthemainbuildings).Theprojectwillbeputintoproductionwithin18monthsfromthedateofsigningtheConfirmationofListingandTransferringtheRighttoUseState-ownedConstructionLand.Fromthedateofsigningthecontracttothefirstyearaftertheprojectisputintoproduction,theaccumulatedtaxpaymentisnotlessthanRMB10million;theaccumulatedtaxpaymentinthefirsttwoyearsisnotlessthanRMB27.4million;theaccumulatedtaxpaymentinthefirstthreeyearsisnotlessthanRMB67.1million;theaccumulatedtaxpaymentinthefirstfouryearsisnotlessthanRMB117million;theaccumulatedtaxpaymentinthefiveyearsisnotlessthanRMB203million.Thetotalindustrialoutputvalue(orrevenue)inthefirstyearaftertheprojectisputintoproductionisnotlessthanRMB218million;theaccumulated

valueinthefirsttwoyearsisnotlessthanRMB433million;theaccumulatedvalueinthefirstthreeyearsisnotlessthanRMB929million;theaccumulatedvalueinthefirstfouryearsisnotlessthanRMB1,548million;theaccumulatedvalueinthefiveyearsisnotlessthanRMB2.62billion.Iftheprojectfailstostartconstructionwithin12monthsfromthedateofsigningtheConfirmationofListingandTransferringtheRighttoUseState-ownedConstructionLandduetoHainanTechnologyreasons,theHaikouDevelopmentZoneManagementCommitteehastherighttounilaterallyterminatethecontractandthemunicipalgovernmentwillrecoverthelanduserightsaccordingtolaw;ifthetotalamountoftaxpaidintheyearaftertheprojectisputintoproductiondoesnotreachthetotalannualtaxpaymentasagreed,HainanTechnologyshallpayliquidateddamagestotheHaikouDevelopmentZoneManagementCommitteeaccordingtothedifference;ifHainanTechnologyhasidlelandnotduetogovernmentreasonsandforcemajeure,themunicipalgovernmentshallcollectidlelandfeesorrecovertherighttousestate-ownedconstructionland.Asatthedateofthisreport,thefirstphaseoftheHainanIndustrialParkhasbeencompletedandputintoproduction.

2.Contingency

(1)SignificantContingencyonBalanceSheetDate

1)LitigationbetweentheCompanyandYinghe(Shenzhen)RoboticsandAutomationTechnologyCo.,Ltd.Yinghe(Shenzhen)RoboticsandAutomationTechnologyCo.,Ltd.(hereinafterreferredtoasthe“YingheCompany”)andtheCompanyenteredintotheBulbLampIntelligentManufacturingWorkshopProjectConstructionContractin2021.Theprojectfailedtomeetthefinalacceptanceinspectioncriteria,andafterrepeatednegotiationsbetweenbothparties,noagreementwasreached.Therefore,YingheCompanyfiledalawsuitwiththeChanchengDistrictPeople’sCourtofFoshanCityinDecember2023withtheamountofRMB104,403,700involvedinlitigation.InJanuary2024,theCompanyfiledacounterclaimonthegroundsthattheprojectundertakenbyYingheCompanyhadnotreachedthefinalacceptancestandardsfortwoyearsoverdue,constitutingafundamentalbreachofcontract,demandingthatYingheCompanyrefundthecontractamountofRMB26,904,000andpayapenaltyofRMB26,904,000,totalingRMB53,808,000.InSeptember2024,theCompanyreceivedthefirst-instancejudgmentfromthePeople’sCourtofChanchengDistrict,FoshanCity,GuangdongProvince:1.ThecourtdismissedalltheclaimsmadebyYingheCompany;2.YingheCompanyisrequiredtoreturnRMB26,904,000totheCompany;3.YingheCompanyisresponsibleforthecostsofremovingtheequipmentandsystemslocatedintheFoshanLightingproductionworkshop.Bothpartiesappealed,andinJanuary2025,thecasewasheardinthesecond-instancecourt.InFebruary2025,theCompanyreceivedthesecond-instancejudgmentfromtheFoshanIntermediatePeople’sCourt,GuangdongProvince,whichupheldtheoriginalfirst-instancejudgment.InMarch2025,theCompanyappliedforcompulsoryenforcement,andthecasewasacceptedforfilinginJune2025.

2)LitigationbetweentheCompanyandChinaConstructionFourthEngineeringDivisionInstallationEngineeringCo.,Ltd.ChinaConstructionFourthEngineeringDivisionInstallationEngineeringCo.,Ltd.,asacustomeroftheCompany,hasadisputewiththeCompanyoverasalescontract.TheCompanyinitiatedarbitrationwiththeGuangzhouArbitrationCommissionwiththesubjectmatterofthearbitrationamountingtoRMB18,420,100.InDecember2024,bothpartiessignedaSettlementAgreement.Asatthedateofthisreport,ChinaConstructionFourthEngineeringDivisionhasfulfilledpartialobligations,andthecaseispendingfortrial.TheCompanyhasmadeaprovisionforbaddebtsofRMB5,855,300basedonexpectedcreditlosses.

3)LitigationbetweenSub-subsidiaryChongqingGuinuoandHascoVISIONTechnology(Chongqing)Co.,Ltd.andHascoVISIONTechnology(Shanghai)Co.,Ltd.HascoVISIONTechnology(Chongqing)Co.,Ltd.andHascoVISIONTechnology(Shanghai)Co.,Ltd.,ascustomersofsub-subsidiaryChongqingGuinuo,havedisputeswiththesub-subsidiaryChongqingGuinuooversalescontracts.ChongqingGuinuohasfiledalawsuitwithYubeiDistrictPeople’sCourt,Chongqing,withthesubjectmatterofthelawsuitamountingtoRMB17,381,700.ThefirsthearingofthecasewasheldinAugust2024,followedbyasecondhearinginOctoberandathirdinDecember2024.Duringthethreehearings,thecourtrequestedthatthelegalrepresentativesofbothpartiessigntheApplicationforSettlementAgreement,withamediationperiodofthreemonths.InFebruary2025,ChongqingGuinuoreceivedthefirst-instancejudgmentfromtheYubeiDistrictPeople’sCourtofChongqing:allclaimsfiledbyChongqingGuinuoweredismissed.ChongqingGuinuofiledanappealbasedonthefirst-instancejudgment,andtheappealtrialcommencedinApril

2025,andinJune2025,theChongqingNo.1IntermediatePeople’sCourtissuedthesecond-instanceruling,upholdingtheoriginaljudgment.

4)LitigationbetweentheCompany&ItsSubsidiaryFoshanKelian,andFoshanCenturynetIndustrialParkInvestmentandDevelopmentCo.,Ltd.FoshanCenturynetIndustrialParkInvestmentandDevelopmentCo.,Ltd.(hereinafterreferredtoas“Centurynet”)enteredintoaState-OwnedConstructionLandUseRightTransferContractandasupplementaryagreementwiththeFoshanBureauofLandandResources,underwhichCenturynetwaspermittedtodividetheacquiredlandparcelintoeightseparateplots.InApril2016,CenturynetsignedaState-OwnedConstructionLandUseRightTransferContractwithFoshanKelianNewEnergyTechnologyCo.,Ltd.(hereinafterreferredtoas“FoshanKelian”),transferringPlotSeventoFoshanKelian.InJune2023,theFoshanBureauofNaturalResourcesissuedaNoticeonthePaymentofLiquidatedDamagesforDelayedCompletiontoCenturynetregardingPlotFC(G)2010-017(CenturyBinjiangProject),statingthattherequiredcompletiondatefortheeightsubdividedplotswasAugust6,2017,whiletheactualcompletiondatewasAugust19,2021.Asaresult,CenturynetwasrequiredtopayliquidateddamagesfordelayedcompletionamountingtoRMB55,221,600.Basedonthenotice,CenturynetpaidtheliquidateddamagesandsubsequentlyfiledalawsuitagainsttheCompanyanditssubsidiaryFoshanKelian,demandingthattheybearaproportionalshareofthepenalty—RMB11,449,200—aswellasRMB100,000inlegalfees,totalingRMB11,549,200.WhenacquiringFoshanKelian,theCompanysignedanEquityTransferAgreementinwhichthetransferorcommittedthat:ifthetargetcompanyorthetransfereeincursanyloss,claim,orlegalliabilityarisingfromanymatterthatoccurredpriortotheclosingdate(excludingdebtsalreadydisclosedintheauditreport),thetransferorshallbearjointandseveralliabilityandprovidecompensationtothetargetcompanyorthetransfereeincash.InDecember2024,theCompanyreceivedlitigationdocumentsservedbythecourt.Thefirst-instancehearingofthecasewasheldinJanuary2025.InApril2025,theCompanywasservedwiththefirst-instancejudgmentbyFoshanChanchengDistrictPeople’sCourt:FoshanKelianshallpayliquidateddamagesplusaccruedinterestfordelayedcompletiontoCenturynet;FSLshallbearjointandseveralliability.TheCompanysubsequentlyappealedandthesecond-instancetrialcommencedinJune2025.AsatthedateofthisReport,thecaseisstillinthesecondinstanceprocedure.

5)LitigationbetweenSub-subsidiaryChongqingGuinuoandHascoVISIONTechnology(Chongqing)Co.,Ltd.Thesub-subsidiaryChongqingGuinuo,hasadisputewithHascoVISIONTechnology(Chongqing)Co.,Ltd.(hereinafterreferredtoas“HascoVISION”)overaleasecontract.HascoVISIONhasfiledalawsuitwithYubeiDistrictPeople’sCourt,ChongqinginDecember2023,withthesubjectmatterofthelawsuitamountingtoRMB10,433,900.ThefirstinstancetrialofthiscasewasheldinAugust2024,followedbyasecondtrialinSeptemberofthesameyear.InNovember2024,thePeople’sCourtofYubeiDistrict,Chongqing,issuedacivilrulingtosuspendthelitigation.InJuly2025,YubeiDistrictPeople’sCourt,ChongqingnotifiedthatthetrialwouldbeheldinAugust2025.Afterthetwopartiesreachedapreliminarysettlementconsensus,ChongqingGuinuoappliedforapostponementofthetrial.Asatthedateofthisreport,thecaseisstillintheprocedureofthefirstinstance.

6)LitigationbetweentheCompanyandIndustrialandCommercialBankofChina,FoshanBranchInApril2023,thecompanyengagedinforeignexchangeoptionsbusinesswithIndustrialandCommercialBankofChinaLimited,FoshanBranch(hereinafterreferredtoas“ICBCFoshan”).Adisputearoseduetotransactiondifferences,andaspertheagreement,ICBCFoshanwasrequiredtocompensateforadifferenceofRMB15,883,400.InApril2025,theCompanyfiledalawsuitwiththePeople’sCourtofChanchengDistrict,Foshan.ThecasewasheardinthefirstinstanceinJune2025.Asatthedateofthisreport,thecaseisstillinthefirst-instanceprocedure.

7)LandacquisitionpenaltymatterinvolvingNanjingFozhaoLightingComponentsManufacturingCo.,Ltd.OnJuly10,2020,thePeople’sGovernmentofLishuiDistrict,NanjingissuedtheDecisionontheExpropriationofHousesonState-OwnedLandfortheLishuiDistrictHonglanSubdistrictAffordableHousingConstructionProject(DocumentNo.[2020]18oftheNanjingLishuiGovernment),decidingtoexpropriatethelandandabove-groundstructureslocatedatNo.688,JinniuNorthRoad,HonglanSubdistrict,LishuiDistrict,Nanjing,ownedbyNanjingFozhaoLighting.TheexpropriationwastobeimplementedbyNanjingLishuiDistrictDemolitionandResettlementCo.,Ltd.(hereinafterreferredtoasthe“DemolitionCompany”).OnDecember15,2021,theDemolitionCompanyandNanjingFozhaoLightingenteredintotheHouseExpropriationandCompensationAgreementforState-OwnedLandinLishuiDistrict,Nanjing,stipulatingatotalcompensationamountof

RMB183,855,900.TheagreementrequiredtheDemolitionCompanytomakeaone-timefullpaymentwithinfifteendaysafterNanjingFozhaoLightingvacatedthepremises.Italsowasagreedthatthebreachingpartywouldbeliabletopayliquidateddamagescalculatedatadailyrateof0.05%ofthecompensationamount.OnDecember16,2021,NanjingFozhaopromisedtocompletetheleaseclearanceandhousehandoverbeforeMay31,2022.However,thelasthousingrentalenterprisewasactuallyrelocatedonSeptember9,2024,andthedemolitioncompanycompletedthelandandhousereceptionofthelasthousingrentalenterpriseonJanuary7,2025.Currently,thetwopartiesarenegotiatingandimplementingissuessuchascontractfulfillmentresponsibilitiesandpaymentoftheremainingcompensation.

8)LitigationmattersbetweensubsidiaryNationStarOptoelectronicsandLighthouseTechnologies(Huizhou)LimitedandLighthouseTechnologiesLimitedNationStarOptoelectronicssuedLighthouseTechnologies(Huizhou)Limited(hereinafterreferredtoas“HuizhouLighthouse”)andLighthouseTechnologiesLimited(hereinafterreferredtoas“Lighthouse”)forasalescontractdisputeinvolvinganamountofRMB25,882,900.Amongthem,theaccountreceivableinvolvedisRMB25,352,200andtheinterestisRMB530,700.Thespecificbasicsituationandprogressofthecaseareasfollows:

HuizhouLighthousehasbeenoverdueinpayingNationStarOptoelectronics’sgoodssinceApril2024,withatotaloverdueamountofRMB25,352,200.Inviewofthis,NationStarOptoelectronicsfiledalawsuitwiththePeople’sCourtofChanchengDistrict,FoshanCity,GuangdongProvinceinNovember2024.ThetrialcommencedinMarch2025.InJune2025,NationStarOptoelectronicswasservedwiththefirst-instancejudgmentordering:(1)HuizhouLighthousetopayNationStarOptoelectronicsRMB25,352,200inoutstandingprincipalplusinterestaccruingat130%oftheLPRfromthedateofdefaultuntilfullpayment;(2)Lighthousejointlyandseverallyliableforthesaiddebt;(3)alllitigationandpreservationcostsbornejointlyandseverally.Asofthedisclosuredateofthisreport,noappealinformationoftheotherpartyhasbeenreceived.Inresponsetotheabovematters,NationStarOptoelectronicsfiledaclaimwiththeinsurancecompanyunderthe"2023-2024DomesticTradeCreditInsurance(Short-term)InsuranceContract"andreceivedaninsurancepaymentofRMB22.817milliononMay16,2025.

(2)InDespiteofnoSignificantContingencytoDisclose,theCompanyShallAlsoMakeRelevantStatementsTherewasnosignificantcontingencyintheCompany.

3.Other

(1)AsatJune30,2024,mutualguaranteesamongLiaowangAutoLampanditssubsidiarieswereasfollows(RMB’0,000):

No.PrincipaldebtorPrincipaldebtee(Lender)GuarantorTypeofguaranteeGuaranteeAmountGuaranteebalance
1NanningLiaowangAutoLampCo.,Ltd.,LiuzhouGuigeFuxuanTechnologyCo.,Ltd.,LiuzhouGuigeLightingTechnologyCo.,Ltd.(Note1)NanningBranchofIndustrialBankNanningLiaowangAutoLampCo.,Ltd.Pledge6,350.003,063.49
2ChongqingGuinuoLightingTechnologyCo.,Ltd.(Note2)ChongqingBranchofIndustrialBankChongqingGuinuoLightingTechnologyCo.,Ltd.Pledge7,000.003,870.05
3NanningLiaowangAutoLampCo.,Ltd.,LiuzhouGuigeFuxuanTechnologyNanningBranchofIndustrialLiuzhouGuigeLightingTechnologyCo.,Pledge14,300.003,501.50
No.PrincipaldebtorPrincipaldebtee(Lender)GuarantorTypeofguaranteeGuaranteeAmountGuaranteebalance
Co.,Ltd.,andLiuzhouGuigeLightingTechnologyCo.,Ltd.(Note3)BankLtd.
Total---27,650.0010,435.04

Note1:LiaowangAutoLampandNanningBranchofIndustrialBanksignedtheMasterAgreementforDomesticLetterofCreditFinancingnumberedM0120240409000444,borrowingRMB20millionfromNanningBranchofIndustrialBank(termfromApril15,2024toApril9,2025),whichhasbeensettledonApril9,2025;LiaowangAutoLampandNanningBranchofIndustrialBankenteredintotheMaximumFinancingAgreement(X.Y.G.CH.B.R.Z.Z.[2022]No.(01))toconductabilltransactionofRMB30.6349million.LiaowangAutoLampprovidesmortgageguaranteewiththeimmovablepropertyownedascollateral,andthebalanceofitscreditor’srightsdoesnotexceedthemaximummortgageprincipalofRMB69.1391million.ThemortgageamountisvalidfromApril25,2022toDecember31,2025andtheguaranteeamountisRMB63.5million.Themortgagedrealestateis1)Y.G.(2017)N.N.SH.B.D.CH.Q.Z.No.0065501;2)E.G.(2017)N.N.SH.B.D.CH.Q.Z.No.0065499;3)S.G.(2017)N.N.SH.B.D.CH.Q.Z.No.0065498;4)S.G.(2017)N.N.SH.B.D.CH.Q.Z.No.0065497.Note2:ChongqingGuinuoandChongqingBranchofIndustrialBankenteredintotheFixedAssetLoanContractnumberedCQ2023-477,withthecontractamountbeingRMB50million(fromJune21,2023toJune20,2026).AsatJune30,2025,RMB38.7005millionhadbeenused.ChongqingGuinuoandChongqingBranchofIndustrialBankenteredintotheMaximumMortgageContract(X.Y.Y.L.J.G.N.D.[2023]No.001)andtheMaximumMortgageContract(X.Y.Y.K.G.G.N.D.[2024]No.001)toconductabilltransactionofRMB70million.ChongqingGuinuoprovidesmortgageguaranteewiththeimmovablepropertyownedascollateral,andthebalanceofitscreditor’srightsdoesnotexceedthemaximummortgageprincipalofRMB240million.ThemortgageamountisvalidfromMay21,2024toMay20,2025andtheguaranteeamountisRMB70million.Themortgagedrealestateisa)Y.Y.(2020)L.J.X.Q.B.D.C.Q.No.000436821,b)E.Y.(2020)L.J.X.Q.B.D.C.Q.No.000437330,c)S.Y.(2020)L.J.X.Q.B.D.C.Q.No.000437429andd)S.Y.(2020)L.J.X.Q.B.D.C.Q.No.000437448.Note3:LiuzhouPhotoelectricenteredintotheMaximumFinancingAgreementnumberedX.Y.G.CH.B.R.Z.Z.(2022)No.(02)withNanningBranchofIndustrialBank,incurringanotebusinessofRMB35.0150million.LiuzhouGuigePhotoelectricprovidesmortgageguaranteewiththeimmovablepropertyownedascollateral,andthebalanceofitscreditor’srightsdoesnotexceedthemaximummortgageprincipalofRMB139.9437million.ThemortgageamountisvalidfromApril24,2022toDecember31,2025andtheguaranteeamountisRMB143million.Themortgagedrealestateis:a)Y.G.(2019)L.ZH.SH.B.D.CH.Q.No.0191988,locatedatNo.1FactoryBuilding,No.12HengsiRoad,Cheyuan;b)E.G.(2019)L.ZH.SH.B.D.CH.Q.No.0191991,locatedinthemouldCenterofNo.12HengsiRoad,Cheyuan;c)S.G.(2019)L.ZH.SH.B.D.CH.Q.No.0191994,locatedinthelogisticsgateguardroomatNo.12HengsiRoad,Cheyuan;d)S.G.(2019)L.ZH.SH.B.D.CH.Q.No.0191995,locatedintheguardroomofGate12,HengsiRoad,Cheyuan.

(2)AsatJune30,2025,theguaranteearrangementsofHuleElectricCompanywereasfollows(RMB’0,000):

No.PrincipaldebtorPrincipaldebtee(Lender)GuarantorTypeofguaranteeGuaranteeamountGuaranteebalance
1ZhejiangHuleElectricalEquipmentManufactureCo.,Ltd.AgriculturalBankofChinaLimited,JiaxingNanhuZhejiangHuleElectricalEquipmentManufacturingCo.,Ltd.Mortgaged2,000.001,360.62
(Note1)Sub-branch
Total——————2,000.001,360.62

HuleElectricalEquipmententeredintoMaximumMortgageContract(No.33100620230099053)withJiaxingNanhuSub-branchoftheAgriculturalBankofChina.Underthecontract,HuleElectricpledgeditsrealestateassetsascollateraltosecuredebts,withthemaximumsecuredprincipalnotexceedingRMB31.18million.TheguaranteedamountisRMB20million.ThemortgagecontractisvalidfromAugust21,2023toAugust,202028.Themortgagedpropertiesare:a)PropertyOwnershipCertificateNo.00479600,NanhuDistrict,Jiaxing;b)PropertyOwnershipCertificateNo.00479599,NanhuDistrict,Jiaxing.XVII.EventsafterBalanceSheetDate

1.SignificantNon-adjustedEventsNaught.

2.ProfitDistributionNaught.

3.SalesReturnNaught.

4.NotestoOtherEventsafterBalanceSheetDateNaught.

XVIII.OtherSignificantMatters

1.TheAccountingErrorsCorrectioninPreviousPeriodNaught.

2.DebtRestructuringNosuchcasesintheReportingPeriod.

3.AssetsReplacementNaught.

4.PensionPlansInaccordancewithprovisionsofMeasuresforEnterpriseAnnuity(R.SH.B.L.No.36),MeasuresforManagingEnterpriseAnnuityFund(R.SH.B.L.No.11)andotherpolicies,theCompanyhasformulatedtheEnterpriseAnnuityPlanofFoshanElectricalandLightingCo.,Ltd.(hereinafterreferredtoasthe“Plan”).ThePlanadoptsthecorporatetrusteeshipmode.ThecollectedenterpriseannuityfundwillbemanagedbythetrusteeentrustedbyFoshanElectricalandLightingCo.,Ltd.withtheEnterpriseAnnuityFundTrusteeship

Contract.Thetrusteeoftheenterpriseannuityfundshouldappointcustodians,accountmanagers,andinvestmentmanagerswiththequalificationofmanagingenterpriseannuitytoprovideunifiedrelatedservices.TheexpensesrequiredshallbejointlybornebytheCompanyandtheemployees.ThepaymentchannelsoftheCompanyshallbeimplementedaccordingtorelevantregulationsofthestate,andthepartthatshallbepaidbyemployeesthemselveswillbewithheldandpaidbytheCompanyfromtheirsalaries.ThePlanhasbeenfiledatChanchengDistrictHumanResourcesandSocialSecurityBureauofFoshanCityandimplementedsinceJune1,2022.Themanagementoftheenterpriseannuityfundissubjecttothesupervisionandinspectionofrelevantstatedepartments.

5.DiscontinuedOperationsNaught.

6.SegmentInformation

(1)DeterminationBasisandAccountingPoliciesofReportableSegmentWiththedeploymentoftheCompany’sstrategicmanagementandtheexpansionofbusinesssegments,basedontherequirementsofregulatorylawsandregulations,companymanagement,etc.,operatingsegmentswillbedetermined,whichareasfollows:

?Generallighting,automotivelampsproductssegment:Generallighting,automotivelampsproductssegmentresearchanddevelopment,manufacturingandsales;?LEDpackagingandcomponents,otherproductssegment:Researchanddevelopment,manufacturingand

salesofLEDpackagingandcomponents,andotherproducts;Inter-segmenttransferpricesaredeterminedwithreferencetothepricesusedforsalestothirdparties.Assets,liabilitiesandexpensesaredeterminedbasedonthefinancialdataofeachsegment.

(2)TheFinancialInformationofReportableSegment

Unit:RMB

ItemGenerallightingandvehiclelampproductsLEDpackagingandcomponentproductsandotherproductsOffsetamongsegmentsTotal
I.Operatingrevenue2,754,454,796.201,681,244,438.51-49,968,114.934,385,731,119.78
II.Costofsales2,137,285,391.261,477,504,380.21-49,469,214.793,565,320,556.68
III.Incomefrominvestmentstojointventuresandassociates646,719.77646,719.77
IV.Creditimpairmentloss-8,545,614.22-3,560,903.165,021.69-12,101,495.69
V.Assetimpairmentloss-14,480,541.18-7,944,330.15-22,424,871.33
VI.Depreciationandamortizationcost166,817,846.91171,295,116.37-381,130.00337,731,833.28
VII.Totalprofits145,087,132.8423,888,549.11-2,732,993.30166,242,688.65
VIII.Incometaxexpense19,071,097.85-682,455.27-69,829.6618,318,812.92
IX.Netprofits126,016,034.9924,571,004.38-2,663,163.64147,923,875.73
X.Totalassets11,973,607,913.806,102,640,322.34-903,326,170.8117,172,922,065.33
XI.Totalliabilities4,630,707,143.212,278,782,795.15-82,380,687.156,827,109,251.21

(3)IfthereWasnoReportableSegment,ortheTotalAmountofAssetsandLiabilitiesofEachReportableSegmentCouldNotBeReported,RelevantReasonsShallBeClearlyStatedNaught.

(4)OthernotesNaught.

7.OtherSignificantTransactionsandEventswithInfluenceonInvestors’Decision-makingNaught.

8.Other

(1)DemolitionMattersofNanjingFozhaoTheCompanyheldthe24thMeetingofthe9thBoardofDirectorsonDecember15,2021,wheretheProposalonExpropriationofLandandAbove-groundHousingoftheWholly-ownedSubsidiaryNanjingFozhaoLightingEquipmentManufacturingCo.,Ltd.,wasdeliberatedandadopted.TheBoardofDirectorsagreedthatNanjingLishuiDistrictPeople’sGovernmentexpropriatesthelanduserightsandabove-landhousingofNanjingFozhaoLighting,awholly-ownedsubsidiaryoftheCompany,atacompensationamountofRMB183,855,900.00,andNanjingFozhaosignedanexpropriationandcompensationagreementwithLishuiCountyHouseDismantling,Moving&ResettlingDevelopmentCo.,Ltd.,theimplementingunitofthehousingexpropriation.InDecember2021,NanjingFozhaoreceived30%ofthecompensation,thatis,RMB55,160,000.00,andthelanduserightcertificateandhouseownershipcertificateoftheassetsinvolvedhavebeencancelled.Afterthedemolitionworkiscompleted,NanjingFozhaoplanstocarryoutliquidationandcancellation.AsatJanuary7,2025,LishuiDistrictDemolitionandResettlementCo.,Ltd.ofNanjinghadtakenpossessionofalllandandabove-groundbuildingsofNanjingFozhao.Asatthedisclosuredateofthisreport,bothpartiesareinnegotiationandimplementationregardingtheperformanceofthecontractandthepaymentoftheremainingcompensation.Afterthedemolitionworkiscompleted,NanjingFozhaoplanstocarryoutliquidationandcancellation.

(2)ParticipationintheSubscriptionofthePrivatePlacementofA-sharesbytheControllingSubsidiaryNationStarOptoelectronicsin2025TheCompany’scontrollingsubsidiary,FoshanNationStarOptoelectronicsCo.,Ltd.(stockabbreviation:

NationStarOptoelectronics,stockcode:002449),inordertoseizeindustrydevelopmentopportunities,optimizeitsproductstructure,enhanceitstechnologyreserves,strengthenitsR&Dcapabilities,andfurtherimproveits

corecompetitivenessandsustainabledevelopmentcapacity,proposestoissuenomorethan185,543,150A-shares(inclusive)throughaprivateplacement,raisingtotalproceedsofnomorethanRMB981.3239million(inclusive),tobeusedforthe“Ultra-highDefinitionMini/MicroLEDandDisplayModuleManufacturingProject”,the“OptoelectronicSensorandIntelligentHealthDeviceIndustrializationProject”,the“SmartHomeDisplayandMiniBacklightModuleConstructionProject”,the“IntelligentAutomotiveDeviceandApplicationProject”,the“NationStarOptoelectronicsR&DLaboratoryProject”,aswellasforreplenishmentofworkingcapital.TheCompanywillsubscribefortheprivateplacementofA-sharesbyNationStarOptoelectronicswithitsownfunds(excludingtheraisedfunds),withasubscriptionamountofRMB116million,andthefinalnumberofsharestobesubscribedwillbedeterminedbasedontheactualissuepriceofNationStarOptoelectronics.TheCompanyhasenteredintoaconditionalShareSubscriptionAgreementwithNationStarOptoelectronicsandprovidedtherelevantundertakings.Fordetails,pleaserefertotheAnnouncementonParticipationintheSubscriptionofthePrivatePlacementofA-sharesbytheControllingSubsidiaryNationStarOptoelectronicsin2025disclosedbytheCompanyonJuly11,2025onthewebsiteofCNINFO.

XIX.NotesofMainItemsintheFinancialStatementsoftheCompanyastheParent

1.AccountsReceivable

(1)DisclosurebyAging

Unit:RMB

AgeingEndingcarryingbalanceBeginningcarryingbalance
Withinoneyear(includingoneyear)683,951,617.48611,829,771.52
Onetotwoyears61,650,292.3487,098,817.76
Twotothreeyears60,276,000.4261,831,224.89
Overthreeyears87,183,426.9089,329,641.58
Threetofouryears56,049,883.9168,133,250.97
Fourtofiveyears14,180,221.085,227,888.30
Overfiveyears16,953,321.9115,968,502.31
Total893,061,337.14850,089,455.75

(2)DisclosurebyWithdrawalMethodsforBadDebts

Unit:RMB

CategoryEndingbalanceBeginningbalance
CarryingamountBaddebtprovisionCarryingvalueCarryingamountBaddebtprovisionCarryingvalue
AmountProportionAmountWithdrawalproportionAmountProportionAmountWithdrawalproportion
CategoryEndingbalanceBeginningbalance
CarryingamountBaddebtprovisionCarryingvalueCarryingamountBaddebtprovisionCarryingvalue
AmountProportionAmountWithdrawalproportionAmountProportionAmountWithdrawalproportion
Accountsreceivableforwhichbaddebtprovisionaccruedseparately73,111,546.638.19%54,742,012.1174.87%18,369,534.5297,598,472.5811.48%55,270,828.4756.63%42,327,644.11
Accountsreceivablewithdrawalofbaddebtprovisionbyportfolio819,949,790.5191.81%52,936,128.606.46%767,013,661.91752,490,983.1788.52%49,561,358.976.59%702,929,624.20
Ofwhich:
(1)Businessportfolioofgenerallightingandautolamps737,414,861.9982.57%52,936,128.607.18%684,478,733.39674,720,665.6279.37%49,561,358.977.35%625,159,306.65
(2)Internalbusinessportfolio82,534,928.529.24%82,534,928.5277,770,317.559.15%77,770,317.55
Total893,061,337.14100.00%107,678,140.7112.06%785,383,196.43850,089,455.75100.00%104,832,187.4412.33%745,257,268.31

Categorynameofbaddebtprovisionaccruedbyitem:Accountsreceivableforwhichbaddebtprovisionaccruedseparately.

Unit:RMB

NameBeginningbalanceEndingbalance
CarryingamountBaddebtprovisionCarryingamountBaddebtprovisionWithdrawalproportionReasonforwithdraw
CustomerA11,187,337.2011,187,337.2011,187,337.2011,187,337.20100.00%Litigationinvolved
CustomerB12,462,884.4112,462,884.4111,846,436.5411,846,436.54100.00%Dishonestandhigh-riskentities;recoveryisdeemedunlikely.
Total23,650,221.6123,650,221.6123,033,773.7423,033,773.74

Categorynameofbaddebtprovisionaccruedbygroup:(1)Businessportfolioofgenerallightingandautolamps;

(2)internalbusinessportfolio.

Unit:RMB

NameEndingbalance
CarryingamountBaddebtprovisionWithdrawalproportion
(1)Businessportfolioofgenerallightingandautolamps737,414,861.9952,936,128.607.18%
(2)Internalbusinessportfolio82,534,928.52
Total819,949,790.5152,936,128.60

Notes:

PleaserefertoNoteV-13.AccountsReceivablefordetails.Ifadoptingthegeneralmodeofexpectedcreditlosstowithdrawbaddebtprovisionofaccountsreceivable:

□Applicable?Notapplicable

(3)BadDebtProvisionWithdrawn,ReversedorRecoveredintheReportingPeriodInformationofbaddebtprovisionwithdrawn:

Unit:RMB

CategoryBeginningbalanceChangesintheReportingPeriodEndingbalance
WithdrawalCurrent-periodrecoveryofprior-periodwrite-offsReversalorrecoveryWrite-offOthers
Accountsreceivableforwhichbaddebtprovisionaccruedseparately55,270,828.47516,389.911,045,206.2754,742,012.11
Accountsreceivablewithdrawalofbaddebtprovisionbyportfolio49,561,358.973,453,009.1678,239.5352,936,128.60
Total104,832,187.443,969,399.071,045,206.2778,239.53107,678,140.71

Ofwhich,baddebtprovisioncollectedorreversedwithsignificantamount:Naught.

(4)AccountsReceivablewithActualVerificationduringtheReportingPeriod

Unit:RMB

ItemAmountverified
Accountsreceivablewithactualverification78,239.53

Ofwhich,verificationofsignificantaccountsreceivable:Naught.Notestoverificationofaccountsreceivable:

TheamountofaccountsreceivablewrittenoffinthecurrentperiodwasRMB78,239.53,andthebaddebtprovisionwasRMB78,239.53.TheapprovalprocedurewasperformedinaccordancewithprovisionsofthebaddebtmanagementsystemoftheCompany.

(5)TopFiveAccountsReceivableandContractAssetsinEndingBalanceCollectedaccordingtotheArrearsParty

Unit:RMB

NameoftheentityEndingbalanceofaccountsreceivableEndingbalanceofcontractassetsEndingbalanceofaccountsreceivableandcontractassetsProportiontototalendingbalanceofaccountsreceivableandcontractassetsEndingbalanceofbaddebtprovisionofaccountsreceivableandimpairmentprovisionforcontractassets
No.1114,168,148.32114,168,148.3212.75%3,425,044.45
No.2102,522,801.14102,522,801.1411.45%3,075,684.03
No.352,437,451.6752,437,451.675.86%15,657,156.84
No.446,489,677.8646,489,677.865.19%
No.528,889,921.1928,889,921.193.23%866,697.64
Total344,508,000.18344,508,000.1838.48%23,024,582.96

2.OtherReceivables

Unit:RMB

ItemEndingbalanceBeginningbalance
Dividendsreceivable4,733,110.26
Otherreceivables1,156,847,864.04944,184,445.88
Total1,161,580,974.30944,184,445.88

(1)InterestReceivableNaught.

(2)DividendsReceivable

1)CategoryofDividendsReceivable

Unit:RMB

ItemEndingbalanceBeginningbalance
NanjingLiaowangAutoLampCo.,Ltd.4,733,110.26
Total4,733,110.26

2)SignificantDividendsReceivableAgedover1YearNaught.

3)DisclosurebyWithdrawalMethodsforBadDebts

□Applicable?Notapplicable

4)BadDebtProvisionWithdrawal,ReversedorRecoveredintheCurrentPeriodNaught.

5)DividendsReceivablewithActualVerificationduringtheReportingPeriodNaught.

(3)OtherReceivables

1)OtherReceivablesDisclosedbyAccountNature

Unit:RMB

NatureEndingcarryingbalanceBeginningcarryingbalance
Otherintercourse1,154,388,886.04936,571,845.70
Performancebond5,458,921.475,349,914.65
Rent,water&electricityfees1,834,411.661,283,664.90
NatureEndingcarryingbalanceBeginningcarryingbalance
Staffborrowandpettycash856,748.32482,910.18
VATexporttaxrefunds5,974,168.41
Total1,162,538,967.49949,662,503.84

2)DisclosurebyAging

Unit:RMB

AgeingEndingcarryingbalanceBeginningcarryingbalance
Withinoneyear(includingoneyear)445,299,195.82410,148,181.90
Onetotwoyears226,638,116.09109,304,181.17
Twotothreeyears77,163,436.1737,014,033.22
Overthreeyears413,438,219.41393,196,107.55
Threetofouryears410,859,611.40390,960,824.47
Fourtofiveyears999,286.01975,961.08
Overfiveyears1,579,322.001,259,322.00
Total1,162,538,967.49949,662,503.84

3)DisclosurebyWithdrawalMethodsforBadDebts

Unit:RMB

CategoryEndingbalanceBeginningbalance
CarryingamountBaddebtprovisionCarryingvalueCarryingamountBaddebtprovisionCarryingvalue
AmountProportionAmountWithdrawalproportionAmountProportionAmountWithdrawalproportion
Withdrawalofbaddebtprovisionbyindividualitem
Withdrawalofbaddebtprovisionby1,162,538,967.49100.00%5,691,103.450.49%1,156,847,864.04949,662,503.84100.00%5,478,057.960.58%944,184,445.88
CategoryEndingbalanceBeginningbalance
CarryingamountBaddebtprovisionCarryingvalueCarryingamountBaddebtprovisionCarryingvalue
AmountProportionAmountWithdrawalproportionAmountProportionAmountWithdrawalproportion
Withdrawalofbaddebtprovisionbyindividualitem
group
Ofwhich:
Otherreceivablesofbaddebtprovisionwithdrawnbycreditriskcharacteristicportfolio:1,162,538,967.49100.00%5,691,103.450.49%1,156,847,864.04949,662,503.84100.00%5,478,057.960.58%944,184,445.88
Total1,162,538,967.49100.00%5,691,103.450.49%1,156,847,864.04949,662,503.84100.00%5,478,057.960.58%944,184,445.88

Withdrawalofbaddebtprovisionbygroup:Withdrawalofbaddebtprovisionbasedoncreditriskcharacteristicportfolio

Unit:RMB

NameEndingbalance
CarryingamountBaddebtprovisionWithdrawalproportion
Otherreceivablesofbaddebtprovisionwithdrawnbycreditriskcharacteristicportfolio:1,162,538,967.495,691,103.450.49%
Total1,162,538,967.495,691,103.45

Notes:

PleaserefertoNoteV-13.AccountsReceivablefordetails.Withdrawalofbaddebtprovisionbyadoptingthegeneralmodeofexpectedcreditloss:

Unit:RMB

BaddebtprovisionPhaseIPhaseIIPhaseIIITotal
Expectedcreditlossofthenext12monthsExpectedlossintheduration(creditimpairmentnotoccurred)Expectedlossintheduration(creditimpairmentoccurred)
BalanceofJanuary1,2025919,700.544,558,357.425,478,057.96
BalanceofJanuary1,2025intheCurrentPeriod
WithdrawaloftheCurrentPeriod-184,090.12397,135.61213,045.49
BalanceofJune30,2025735,610.424,955,493.035,691,103.45

ThebasisforthedivisionofeachphaseandthewithdrawalproportionofbaddebtprovisionPleaserefertoNoteV-13.AccountsReceivablefordetails.Changesofcarryingamountwithsignificantamountchangedoflossprovisioninthecurrentperiod

□Applicable?Notapplicable

4)BadDebtProvisionWithdrawn,ReversedorRecoveredintheReportingPeriodInformationofbaddebtprovisionwithdrawn:

Unit:RMB

CategoryBeginningbalanceChangesintheReportingPeriodEndingbalance
WithdrawalReversalorrecoveryCharged-off/Written-offOthers
Otherreceivables5,478,057.96213,045.495,691,103.45
Total5,478,057.96213,045.495,691,103.45

OfwhichthebaddebtprovisionreversedorrecoveredwithsignificantamountduringtheReportingPeriod:

Naught.

5)ParticularsoftheActualVerificationofOtherReceivablesduringtheReportingPeriodNaught.

6)Top5oftheEndingBalanceoftheOtherReceivablesCollectedaccordingtotheArrearsParty

Unit:RMB

NameoftheentityNatureEndingbalanceAgeingProportiontototalendingbalanceofotherreceivables(%)Endingbalanceofbaddebtprovision
No.1Internalgroup496,425,090.60Withinfouryears42.70%
No.2Internalgroup327,453,965.21Withinthreeyears28.17%
No.3Internalgroup276,269,469.08Withinoneyear23.76%
No.4Otherintercourse15,883,375.00Withintwoyears1.37%1,588,337.50
No.5Otherintercourse14,840,849.57Withinoneyear1.28%445,225.49
Total1,130,872,749.4697.28%2,033,562.99

7)PresentationinOtherReceivablesDuetotheCentralizedManagementofFundNaught.

3.Long-termEquityInvestment

Unit:RMB

ItemEndingbalanceBeginningbalance
CarryingamountDepreciationreservesCarryingvalueCarryingamountDepreciationreservesCarryingvalue
Investmenttosubsidiaries2,428,772,025.91127,478,834.252,301,293,191.662,381,355,425.91127,478,834.252,253,876,591.66
Investmenttojointventuresandassociatedenterprises180,947,314.66180,947,314.66180,300,594.89180,300,594.89
Total2,609,719,340.57127,478,834.252,482,240,506.322,561,656,020.80127,478,834.252,434,177,186.55

(1)InvestmenttoSubsidiaries

Unit:RMB

InvesteeBeginningbalance(carryingvalue)BeginningbalanceofimpairmentprovisionIncrease/decreaseEndingbalance(carryingvalue)Endingbalanceofimpairmentprovision
AdditionalinvestmentReducedinvestmentWithdrawalofimpairmentprovisionOthers
FoshanNationStarOptoelectronicsCo.,Ltd.1,084,611,411.69127,478,834.251,084,611,411.69127,478,834.25
NanningLiaowangAutoLampCo.,Ltd.493,880,163.76493,880,163.76
Fozhao(Hainan)TechnologyCo.,Ltd.200,000,000.00200,000,000.00
FoshanKelianNewEnergyTechnologyCo.,Ltd.170,000,000.00170,000,000.00
FSLChanchangLightingCo.,Ltd.82,507,350.0082,507,350.00
NanjingFozhaoLightingComponentsManufacturingCo.,Ltd.72,000,000.0072,000,000.00
FoshanElectrical&Lighting(Xinxiang)Co.,Ltd.35,418,439.7635,418,439.76
FSLZhidaElectricTechnologyCo.,Ltd.25,500,000.0025,500,000.00
FoshanHaolaiteLightingCo.,Ltd.16,685,000.0024,916,600.0041,601,600.00
FoshanFozhaoZhichengTechnologyCo.,Ltd.50,000,000.0050,000,000.00
FoshanTaimeiTimesLampsandLanternsCo.,Ltd.350,000.00350,000.00
FozhaoHuaguang(Maoming)TechnologyCo.,Ltd.22,920,000.0022,920,000.00
FoshanSigmaVentureCapitalCo.,Ltd.4,226.454,226.45
InvesteeBeginningbalance(carryingvalue)BeginningbalanceofimpairmentprovisionIncrease/decreaseEndingbalance(carryingvalue)Endingbalanceofimpairmentprovision
AdditionalinvestmentReducedinvestmentWithdrawalofimpairmentprovisionOthers
BeijingHangxinAirNavigationTechnologyCo.,Ltd.22,500,000.0022,500,000.00
Total2,253,876,591.66127,478,834.2547,416,600.002,301,293,191.66127,478,834.25

(2)InvestmenttoJointVenturesandAssociatedEnterprises

Unit:RMB

InvesteeBeginningbalance(carryingvalue)BeginningbalanceofimpairmentprovisionIncrease/decreaseEndingbalance(carryingvalue)Endingbalanceofimpairmentprovision
AdditionalinvestmentReducedinvestmentGainsandlossesrecognizedundertheequitymethodAdjustmentofothercomprehensiveincomeChangesofotherequityCashbonusorprofitsannouncedtoissueWithdrawalofimpairmentprovisionOthers
I.Jointventures
II.Associatedenterprises
ShenzhenPrimatronix(Nanho)ElectronicsLtd.180,300,594.89646,719.77180,947,314.66
Sub-total180,300,594.89646,719.77180,947,314.66
Total180,300,594.89646,719.77180,947,314.66

Therecoverableamountisdeterminedbasedonthenetamountofthefairvalueminusdisposalcosts

□Applicable?NotapplicableTherecoverableamountisdeterminedbythepresentvalueoftheexpectedfuturecashflow

□Applicable?NotapplicableThereasonforthediscrepancybetweentheforegoinginformationandtheinformationusedintheimpairmenttestsinprioryearsorexternalinformationNaught.

ThereasonforthediscrepancybetweentheinformationusedintheCompany’simpairmenttestsinprioryearsandtheactualsituationofthoseyearsNaught.

(3)OtherNotesNaught.

4.OperatingRevenueandCostofSales

Unit:RMB

ItemReportingPeriodSameperiodoflastyear
OperatingrevenueCostofsalesOperatingrevenueCostofsales
Mainoperations1,340,130,009.751,070,064,893.171,741,973,631.591,333,137,814.58
Otheroperations35,583,654.9428,872,339.1257,827,707.3345,413,563.22
Total1,375,713,664.691,098,937,232.291,799,801,338.921,378,551,377.80

5.InvestmentIncome

Unit:RMB

ItemReportingPeriodSameperiodoflastyear
Incomefromlong-termequityinvestmentsaccountedforusingcostmethod7,386,452.513,184,010.70
Incomefromlong-termequityinvestmentsaccountedforusingequitymethod646,719.771,444,720.72
Investmentincomefromdisposaloftradingfinancialassets215,850.00342,400.00
Dividendincomefromholdingofotherequityinstrumentinvestment9,249,795.2619,494,518.75
Interestincomeofinvestmentinotherdebtobligationsduringholdingperiod14,067,520.9213,671,028.14
Total31,566,338.4638,136,678.31

6.OthersNaught.

XX.SupplementaryMaterials

1.ExceptionalGainsandLosses?Applicable□Notapplicable

Unit:RMB

ItemAmountNote
Gainorlossondisposalofnon-currentassets(inclusiveofimpairmentallowancewrite-offs)-47,603.62
Governmentgrantsrecognizedincurrentprofitorloss(exclusiveofthosethatarecloselyrelatedtotheCompany’snormalbusinessoperationsandgiveninaccordancewithdefinedcriteriaandincompliancewithgovernmentpolicies,andhaveacontinuingimpactontheCompany’sprofitorloss)20,828,366.39
Gainorlossonfair-valuechangesinfinancialassetsandliabilitiesheldbyanon-financialenterprise,aswellasondisposaloffinancialassetsandliabilities(exclusiveoftheeffectiveportionofhedgesthatariseintheCompany’sordinarycourseofbusiness)758,629.50
Capitaloccupationchargesonanon-financialenterprisethatarechargedtocurrentprofitorloss1,135,048.55
Reversedportionsofimpairmentallowancesforreceivableswhicharetestedindividuallyforimpairment1,563,182.27
Non-operatingincomeandexpenseotherthantheabove9,030.37
Less:Incometaxeffects3,436,802.38
Non-controllinginterestseffects(netoftax)11,893,083.13
ItemAmountNote
Total8,916,767.95--

Detailsofotheritemsthatmeetthedefinitionofexceptionalgain/loss:

□Applicable?NotapplicableNosuchcasesfortheReportingPeriod.ExplanationofwhytheCompanyreclassifiesasrecurrentanexceptionalgain/lossitemlistedintheExplanatoryAnnouncementNo.1onInformationDisclosureforCompaniesOfferingTheirSecuritiestothePublic—ExceptionalGain/LossItems:

□Applicable?Notapplicable

2.ReturnonEquity(ROE)andEarningsPerShare(EPS)

ProfitintheReportingPeriodWeightedaverageROEEPS(RMB/share)
BasicEPS(RMB/share)DilutedEPS(RMB/share)
NetprofitattributabletotheCompany’sordinaryshareholders1.71%0.07490.0748
NetprofitbeforeexceptionalgainsandlossesattributabletotheCompany’sordinaryshareholders1.57%0.06910.0690

3.DifferencesbetweenAccountingDataunderDomesticandOverseasAccountingStandards

(1)DifferencesofNetProfitandNetAssetsDisclosedinFinancialReportsPreparedunderInternationalandChineseAccountingStandards

□Applicable?Notapplicable

(2)DifferencesofNetprofitandNetAssetsDisclosedinFinancialReportsPreparedunderOverseasandChineseAccountingStandards

□Applicable?Notapplicable

(3)ExplainReasonsfortheDifferencesbetweenAccountingDataunderDomesticandOverseasAccountingStandards;foranyAdjustmentMadetotheDifferenceExistingintheDataAuditedbytheForeignAuditingAgent,SuchForeignAuditingAgent’sNameShallBeClearlyStated

□Applicable?Notapplicable

4.OtherNaught.


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