Extracted from Annual Report 2025
CUI WEI
Chairman
I. ECONOMIC REVIEW FOR 2025
In 2025, the global economy continued its recovery amid multiple uncertainties. Monetary policies in major economies gradually shifted from tightening to stabilization, while adjustments to global supply chains continued to advance. Emerging technologies such as Artificial Intelligence (AI), computing power, advanced communication technologies, and green energy emerged as core drivers of growth. However, geopolitical tensions remained volatile, and trade barriers alongside technological restrictions also had impact on the global industrial landscape, rendering the external environment complex and ever-changing.
Against this backdrop, China’s economy maintained a “stable and positive” (穩中向好) development trend. New quality productive forces were taken shape at an accelerated pace, with significant advancements in scientific and technological innovation alongside the green and low-carbon transition, while the resilience of the manufacturing sector continued to strengthen. Policy support in areas such as 5G-A, AI applications, intelligent connectivity, industrial internet, and new energy technologies was steadily increased, creating broader development opportunities for enterprises. 2025 also marked a year of comprehensive deepening for China’s “dual carbon” initiatives, with robust growth in new energy installations and high prosperity in areas such as solar thermal, energy storage, and green manufacturing. According to the preliminary data from China’s National Bureau of Statistics, China’s GDP growth rate reached 5.0% in 2025, and national fixed-asset investment decreased by 3.8% compared to the previous year, of which investments in computer, communication and other electronic equipment manufacturing industries decreased by 3.2% compared to the previous year. The added value of industrial enterprises above the designated size witnessed a growth of 5.9% compared to the previous year, surpassing the growth rate of 5.8% in the previous year by 0.1 percentage point, maintaining a steady growth trend.
Under this backdrop, the Company adhered to its established strategy, focusing on three core businesses: Integrated Circuits and Digital Technology, New Energy and Services, and Telecommunications. By strengthening innovation-driven development, enhancing operational efficiency, and promoting business synergies, the Company maintained a steady and upward trajectory in overall development. The Chinese government has injected strong impetus into economic growth by enhancing fixed-asset investment, and fostering technological innovation and industrial upgrading. Especially in emerging fields such as 5G, artificial intelligence, and the Internet of Things, the implementation of supportive national policies has opened up vast and promising development horizons for technology enterprises. According to the statistics of the preliminary calculation by the Ministry of Industry and Information Technology of the PRC, the revenue of the telecommunications industry increased by 0.7% in 2025 as compared with that of the previous year, and the total volume of telecommunications services calculated at the price of previous year increased by 9.1% year-on-year. Meanwhile, the Chinese government has continued to promote the “dual carbon” targets, while bolstering its support for strategic emerging industries such as new energy, intelligent manufacturing, and 5G communications, which has brought about broad space for products development under the Company’s three core businesses including Integrated Circuits and Digital Technology, New Energy and Services (especially those related to solar thermal power generation), and Telecommunications.
II. BUSINESS REVIEW FOR 2025
In 2025, despite persistent challenges in the external environment, the Company leveraged its stable industrial footprint, robust supply chain system, and continuously enhanced R&D capabilities to further consolidate its industry position of its three core businesses: Integrated Circuits and Digital Technology, New Energy, and Telecommunications, and achieved phased milestones in key areas. The Company continued to actively address various challenges by focusing on its strategic objectives of “innovation-driven and green development” (創新驅動、綠色發展). In 2025, the Company maintained revenue growth. Against the backdrop of business adjustments, the profitability of each business segment was further improved, and the quality of operations continued to enhance, demonstrating strong momentum for sustainable development. Throughout 2025, the Company realized a revenue of approximately RMB2,247.2 million, representing a year-on-year decrease of approximately 10.8%, and a loss attributable to equity shareholders of the Company for the year of approximately RMB42.4 million, compared to a profit of approximately RMB42.2 million in the same period last year. The loss for the year was primarily due to withholding tax paid for the intra-group dividend payment made in the PRC. This was a one-off tax impact and did not affect the operational performance of the core businesses.
In July 2024, the Group completed the acquisition of the remaining 49% equity interests in each of Nanjing Zhangyu Information Technology Co., Ltd* (南京掌御信息科技有限公司) (“Nanjing Zhangyu“), which mainly engages in chips customization services, semiconductor IP authorization services and supply chain services as well as research and development, production and sales of Internet of Things security chips, and Shanghai Zhangyu Information Technology Co., Ltd.* (上海掌御信息科技有限公司) (“Shanghai Zhangyu“), which mainly provides security solutions in the fields of blockchain security applications, digital security services, data security governance and digital asset trading platforms. Prior to the completion of the equity acquisition, Nanjing Zhangyu and Shanghai Zhangyu were subsidiaries of the Company indirectly owned as to 51%. As the decision-making process related to management and operations have been streamlined, the operational efficiency of Nanjing Zhangyu and Shanghai Zhangyu continued to improve in 2025, enabling the Company to more effectively implement its business adjustment objectives and laying a solid foundation for the Company’s long-term development.
1. Integrated Circuits and Digital Technology
Data released by the Semiconductor Industry Association (SIA) of the United States of America on 6 February 2026 indicated that the sales of the global semiconductor reached US$791.7 billion in 2025, representing a year-on-year increase of 25.6% compared to US$630.5 billion in 2024. From a regional perspective, annual sales in 2025 showed differentiated performance: Asia Pacific and other regions grew by 45.0%, the Americas by 30.5%, China by 17.3%, Europe by 6.3%, while Japan saw a decline of 4.7%. This round of growth was not a broad-based industry-wide increase but was driven by strong structural trends. Major global cloud providers are making large-scale investments in AI computing infrastructure to train and run large models, which has directly fueled demand for high-end logic chips (such as GPUs) and high-bandwidth memory. After a prolonged downturn, the memory chip market has entered a “super cycle”, driven by demand from AI servers. Benefiting from the industry recovery, the Company’s revenue from the Integrated Circuits and Digital Technology segment achieved a growth of approximately 8.8%.
For Marketing and Customer Service
The Company deepened collaborative innovation with strategic customers, offering more competitive customized solutions and achieving breakthrough progress in core areas such as intelligent modules, AI terminals, and IoT security. By successfully integrating into the core supply chains of multiple leading customers, the Company continuously optimized its customer concentration and significantly enhanced its brand influence. Concurrently, the Company actively expanded into emerging markets, establishing a presence in fields like edge computing and the consumer economy to lay a foundation for future growth.
For Production and Supply
The Company specializes in the design, development and sales of integrated circuits, while entrusting wafer manufacturing, packaging and testing and other processes to professional wafer manufacturers and packaging and testing manufacturers. By establishing long-term partnerships with global mainstream wafer foundries, the Company ensures a stable supply of raw materials and production capacity. It has developed comprehensive delivery capabilities spanning both mature and advanced processes, enabling in-depth customization of product solutions across multiple processes from 12nm to 0.5μm. The diversified supply chain layout effectively mitigated geopolitical risks, safeguarding the resilience and stability of the supply chain, thereby providing solid support for the Company’s results growth.
For Research and Development
The core members of the Company’s R&D system are composed of experts with senior semiconductor professional background and extensive industrial experience, which focuses on the development of new products, technologies and processes, as well as the improvement of yield and efficiency. Meanwhile, on the basis of independent innovation, the Company actively strengthens cooperation with external organizations such as scientific research institutes, universities or downstream industry giants to foster a sound mechanism of complementary advantages and synergistic development. During the Reporting Period, the Company has established a Joint Laboratory for Intelligent Security Cryptographic Chips with East China Normal University, for collaborating on applying for national-level research programs, including the National Key Research and Development Program and key projects under the National Natural Science Foundation, as well as major and key research projects issued by Shanghai. As of the end of 2025, the Company had 6 authorized invention patents, 2 integrated circuits layout designs, 67 computer software copyrights, 1 national standard, 1 industry standard, 6 group standards, 4 trademarks and 1 commercial password certificate.
2. New Energy and Services
In 2025, the new energy industry continued to thrive. Solar thermal power plants leveraged their advantages of being “dispatchable and energy-storables” to gain increasing prominence within the new power system. The application scenarios for molten salt energy storage technology expanded rapidly to include industrial steam supply, zero-carbon industrial parks, flexible peak shaving for thermal power plants, and distributed heat storage. In 2025, the national power generation from the industrial enterprises above designated size reached 9,715.9 billion kWh, representing an increase of 2.2% compared to the previous year, with the share of clean energy supply continuously increasing. In 2025, clean electricity from hydropower, nuclear power, wind power and solar power in the industrial enterprises above designated size reached 3,421.3 billion kWh, representing an increase of 8.8% compared to the previous year. This accounted for 35.2% of total power generation from industrial enterprises above the designated size, representing an increase of 2.1 percentage points compared to the previous year. Driven by the “dual carbon” targets, China continued to actively advance the green and low-carbon transformation of its energy sector. The share of coal consumption continued to decline, while the proportion of clean energy consumption steadily climbed, further optimizing the consumption structure. As a vital component of clean energy, solar thermal power generation serves the dual functions of peaking power sources and energy storage. It is an indispensable technology for China in building a new type pf power system and achieving its energy transformation goals, offering vast market potential for the future.
Solar thermal power generation, possessing the dual functions of peak shaving sources and long-duration energy storage, can effectively smooth out the fluctuations in output from renewable energy sources such as wind power and photovoltaic power, making it a crucial pillar for accelerating the development of a new type of power system. At this critical juncture of accelerating China’s energy structure toward green and low-carbon energy transition, to bolster the building of a leading energy nation and expedite the development of a new type of power system and promote the large-scale development of solar thermal power generation, the National Development and Reform Commission and the National Energy Administration issued the “Several Opinions on Promoting the Large-scale Development of Concentrated Solar Power” (the “Opinions“) in December 2025. The Opinions propose that by 2030, China’s total installed capacity of solar thermal power generation will strive to reach about 15 million kilowatts. The Opinions also propose measures to cultivate development space, including rationally allocating solar thermal power generation capacity within large-scale energy bases based on demand, constructing a batch of solar thermal power generation-based supporting and regulating new energy power stations, and exploring the establishment of source-grid-load-storage integrated systems with solar thermal power generation as the base power source. These initiatives are expected to drive an average annual growth of nearly 3 million kilowatts for solar thermal power generation, promoting the maturation of the industrial chain and the release of economies of scale through large-scale development, thereby achieving rapid cost reduction.
For Marketing
As a pioneer in the construction, operations and maintenance of domestic molten salt field in China, Zhejiang Zhongguang New Energy Technology Co., Ltd., a subsidiary of the Company, continued to consolidate its industry leading position during the Reporting Period, with the cumulative installed capacity of solar thermal power plant projects undertaken and participated in the operations and maintenance thereof exceeding 1.1GW, making it an important service provider in the global operation and maintenance sector for solar thermal power stations. The Delingha 350MW solar thermal project officially commenced construction in December 2025 and is expected to be put into operation by the end of 2027, which will inject strong growth momentum into the Company. During the year, the operation and maintenance business added benchmark projects such as the Guoneng Gonghe (國能共和) 100MW and Xinjiang Xinhua Bozhou (新疆新華博州) 100MW solar thermal operation and maintenance projects, with its service network continuing to expand.
Leveraging its expertise in molten salt heat storage and exchange technology, while vigorously developing the construction and operations of solar thermal power plants, it also focused on the provision of overall solutions and related products for molten salt energy storage scenarios, such as zero-carbon parks, flexible peak-shaving for thermal power plants, energy-saving and peak-valley arbitrage in steel plants, as well as distributed heat storage. During the Reporting Period, the distributed thermal storage product “Thermal Storage Unit (蓄熱寶)” successfully expanded into the South China market, with the signing of the Guangdong Sanfeng Poultry (廣東三豐禽業) Green Steam Project, which validated the product’s applicability in diverse industrial scenarios.
The Company has made significant breakthroughs in its strategic deployment in the new energy storage sector. Its 800MW/1600MWh grid-side independent energy storage project in Binzhou City, Shandong Province has been successfully included in the 2025 list of new energy storage projects of Shandong Province, becoming the largest single project in that batch. Its 200MW/400MWh independent energy storage project in Chengmai City, Hainan Province has obtained approval for its grid connection system plan from Hainan Power Grid, marking a crucial step towards its grid connection and operational commissioning. These projects signify critical policy recognition for the Company’s investment strategy in the new energy storage sector, providing initial validation of its strategic direction. In collaboration with the Shouning County government in Fujian Province, the Company has jointly established an “asset-based” digital energy industry platform to explore new models for integrated energy services at the county level. Furthermore, the Company is actively preparing for electricity sales qualifications to be ready for participation in the power trading market.
For Project Construction and Operation and Maintenance
The Company owns two tower-type solar thermal molten salt energy storage power generation projects in Delingha, Qinghai, with capacities of 10MW and 50MW respectively. Qinghai Zhongkong’s Delingha 50MW solar thermal power station reached a cumulative power generation of 143 million kWh in 2025, completing its power generation targets in a steady manner for four consecutive years. The 10MW project operated stably after technical upgrades during the Reporting Period, with an annual power generation of 9.76 million kWh, representing a year-on-year increase of 158%.
For Research and Development
The Company adhered to innovation-driven development and continuously improved its R&D system. During the Reporting Period, the Company jointly established a distributed thermal storage joint R&D center with Zhejiang University and successfully incubated Zhejiang Yanrong Energy Storage Technology Co., Ltd. (浙江焱熔儲能技術有限公司). As of 31 December 2025, the Company had 22 authorized invention patents, 29 utility model patents, 5 computer software copyrights and 14 industry standards.
3. Telecommunications
In 2025, China’s 5G-A (5.5G) construction was in full swing, driving robust growth in demand for high-performance antennas, leaky cables, and high-frequency transmission modules. Smart cities, railway communications, industrial internet, and emerging overseas markets further bolstered industry demand. With the deepening coverage of 5G network construction, the total number of 5G base stations nationwide amounted to approximately 4.838 million in 2025, representing an increase of over 580,000 stations from the approximately 4.251 million stations at the end of 2024.
In 2025, the Company further consolidated its market position in the fields such as telecommunications, radio and television and safety monitoring by continuously leveraging its leading technological advantages and stable product quality. At the same time, the Company has increased its R&D investment in high frequency and high-speed transmission technology, and launched a variety of innovative products, which garnered high recognition from customers.
For Marketing
The Company achieved further outstanding results in centralized procurement projects of China Mobile, China Tower, and major telecommunications equipment suppliers, continuing to solidify the leading position of its core products in the centralized procurement market. Specifically, in terms of radio frequency (“RF“) products centralized procurement, the Company successfully won the bid for China Tower’s 2025-2026 centralized procurement project for leaky cables and accessories, securing the top position. In terms of antenna products centralized procurement, the Company won the bid with the excellent result of ranking first in its inaugural participation in China Mobile’s 2025-2026 lens antenna products centralized procurement project. Additionally, it won the bid with the excellent result of ranking second in China Telecom’s inaugural green base station antenna (2025) centralized procurement project. The cumulative bid amount of centralized procurement projects in 2025 reached approximately RMB1,310.55 million in total. This series of successful bids effectively ensured the Company’s efficient production and operations at near full capacity for a considerable period of time, laying a solid foundation for the smooth achievement of annual results targets.
In 2025, the global mobile communications market exhibited the overall characteristics of “deepening technology, slowing growth, and structural divergence” (技術深化、增長放緩、結構分化). Against a backdrop of overall market pressure and sluggish demand in certain regions, the Company’s overseas business demonstrated strong resilience and strategic steadfastness. Despite challenges including geopolitical volatility, fiscal tightening in some countries, and operators’ cautious capital expenditure, the Company’s overseas revenue for the full year basically remained flat as compared with the last year by deepening its presence in key markets, optimizing product portfolios, and enhancing localized services. Overseas business achieved sustained breakthroughs in emerging markets like the Middle East and Southeast Asia, with comprehensive solutions for wireless signal transmission products including base stations and indoor distribution systems successfully delivered for multiple national-level projects. Moving forward, the Company will leverage its established global customer base and certification systems to further advance the transition from “product export” (產品出海) to “capability export” (能力出海), laying a solid foundation for the high-quality and sustainable growth of its overseas business.
For Research and Development
In 2025, the Company continued to advance R&D in new products and technologies. The Company continuously expanded pilot deployments and enhanced the product portfolio of its HPLAS low-loss flexible series products, securing multiple pilot application cases. The components and modules achieved automated assembly line switching, and the automated production line for U-shaped jumpers was established and put into operation. The product series for high-end test-grade products was continuously enriched. Cable-free solutions adopted in green antenna products for China Telecom and China Unicom, as well as in China Mobile’s high-speed railway green antennas, established technical advantages, effectively enhancing product manufacturability and stability. In 2025, the Company secured 22 invention patent authorizations and 3 international patents, and was honored with the second prize of Science and Technology Award of China Institute of Communications. Throughout the year, the Company undertook 20 R&D projects, with the sales revenue of new products amounted to more than RMB705 million.
III. CHINA’S ECONOMIC SITUATION AND INDUSTRY OPPORTUNITIES
The year 2025 marks a year of profound global economic adjustments and accelerated evolution in the geopolitical landscape, while also serving as a pivotal year of planning for the “15th Five-Year” Plan of China. In the face of a complex macroeconomic environment, the Chinese government has led the development of a modern industrial system through technological innovation, placing the “development of new quality productive forces” at the core of its strategic agenda. Continued policy support and resource allocation toward strategic emerging industries and future-oriented sectors delivered historic opportunities for the transformation and upgrading of high-end manufacturing industry. The industries in which the Company operates, namely integrated circuits and digital technology, new energy and services, and telecommunications, etc., are not only national strategic priorities but also quintessential examples of new quality productive forces (新質生產力). Amidst both opportunities and challenges, these sectors are entering a new phase of structural growth.
1. Integrated Circuits and Digital Technology
In 2025, the global semiconductor market entered a new round of expansion cycle driven by the strong support of generative artificial intelligence. According to the latest global semiconductor market forecast released by the World Semiconductor Trade Statistics (WSTS) on 2 December 2025, global semiconductor revenue is expected to increase by 22.5% year-on-year to US$772 billion in 2025, and will further grow by 26.3% in 2026, approaching the US$1 trillion mark, reaching US$975 billion. Artificial intelligence (AI) is fully penetrating from the cloud to edge and terminals, driving explosive growth in demand for chips supporting intelligent computing, high-speed interconnection, advanced storage, etc. Meanwhile, the urgency of global supply chain security and technological self-reliance and control has been further highlighted, with China ramping up policy support and industrial investment in this field. The accelerated commercialization of 5G-A, the surge in Internet of Things (IoT) device connections, and the innovation of intelligent vehicle electronic architectures together constitute the core growth drivers of the integrated circuit industry in the next twelve months.
In response to this situation, the Group will adopt a strategy that balances both offense and defense, with autonomy and coordination. On the one hand, the Group will steadfastly uphold technological R&D as its lifeline and extend its advanced packaging production capabilities downstream based on the large-scale demand for high-computing power chips from its computing power centers business. The Group have initiated the self-built planning for our FCBGA (Flip-Chip Ball Grid Array) packaging production line, possessing the capability to independently complete the implementation and operation of the production line setup, thereby achieving a synergistic closed-loop of “chip design + packaging manufacturing” (芯片設計+封裝製造). On the other hand, the Group will strive to build a more resilient and efficient domestic supply chain system by ensuring the stable supply of critical materials and equipment through strategic investments, long-term agreements, and technical collaborations. The Group will deepen joint R&D efforts with leading research institutions and key clients both domestically and internationally, aiming to achieve mass production and market introduction of several critical self-developed chips by 2026, and positioning the integrated circuits and digital technology business as the primary driver of the Group’s high-quality growth.
2. New Energy and Services
Energy security and green transition have become a global consensus. In December 2025, the National Development and Reform Commission and the National Energy Administration issued the “Several Opinions on Promoting the Large-Scale Development of Concentrated Solar Power (CSP)” (《關於促進光熱發電規模化發展的若干意見》), proposing that by 2030, the total installed capacity of CSP will strive to reach about 15 million kilowatts, and the levelized cost of electricity (LCOE) will be basically equivalent to that of coal-fired power; technologies will achieve international leadership and complete independent controllability, and the industry will realize independent marketization and industrialization development. This systematic and programmatic new industrial policy marks a new era for the development of CSP industry during the “15th Five-Year” Plan period. Unlike the intermittent nature of photovoltaic and wind power, CSP leverages its built-in energy storage (molten salt heat storage) system to deliver stable, dispatchable electricity output, serving as a “ballast stone” in building the new power system. According to industry analysis, the compound annual growth rate of global CSP installed capacity is expected to exceed 20% by 2026. Large-scale integrated energy base projects in the western areas of China and countries along the Belt and Road Initiative, such as those in Middle East and North Africa, are set to enter a phase of intensive development.
The Group will seize this strategic high ground through a dual-drive strategy of “technological leadership + system integration” (技術領先+系統集成). The Group will not only continuously optimize the efficiency of tower-mounted collectors and innovate low-melting-point, high-heat-storage-density molten salt formulations, but also focus on breakthroughs in “CSP+” coupling technologies. These include multi-energy complementarity with photovoltaic and wind power, as well as system integration with long-duration energy storage (such as compressed air energy storage), delivering round-the-clock clean energy solutions to customers. On the service front, the Group will fully deploy an smart energy operation platform powered by AI predictive maintenance and digital twin technology, achieving optimized energy efficiency and minimized operation and maintenance costs throughout the entire lifecycle of power plants. The Group anticipates that its new energy and services business will contribute a more significant share of revenue and profit by 2026, serving as a vital carrier of the Group’s green brand value.
3. Telecommunications
The year 2025 marks a pivotal phase in the generational evolution of communication technology. 5G network construction has entered the “second half” characterized by deep coverage and application incubation, while the commercial deployment of 5G-Advanced (5G-A) and the comprehensive advancement in 6G standard research were redefining industry boundaries and growth trajectories. Market demand was polarized: on one hand, there was a demand for upgrades driven by 4G/5G converged network optimization and coverage in specialized scenarios such as oceans, mines, and high-speed railways; on the other hand, emerging scenarios like the low-altitude economy (UAV communications), satellite internet, holographic communications, and the industrial internet generated incremental revolutionary demand for high-frequency, high-bandwidth, low-latency, and highly reliable connectivity.
In response, the Group has initiated a strategic transformation centered on “Ground Deepening, Space-Air Breakthrough”. In our traditional areas of strength, the Group will continue to solidify our leadership in the high-performance RF coaxial cable and integrated base station antenna markets through product intelligence and materials innovation, while vigorously expanding into non-operator private network markets. In future-oriented tracks, the Group will strategically increase investment to accelerate the productization of key technologies for space–air–ground integrated communications. This includes intelligent beamforming antennas for low-altitude communication networks, Ka/Q/V-band millimeter-wave phased array antenna modules for satellite internet, and preliminary research on terahertz communication technologies aligned with the 6G vision. Our goal is to cultivate emerging businesses into a major growth driver for the telecommunications segment by 2026 and complete a pivotal leap from a communications equipment supplier to a “provider of all-domain connectivity solutions”.
For Production and Supply
In 2025, the Company deeply advanced its automation upgrades and transformations in alignment with its “Intelligent Manufacturing + Digitalization” (智能製造+數字化) strategy. Through production line automation and system integration, the Company achieved a significant leap in production efficiency. Refined management based on data collection and analysis effectively reduced energy consumption costs, with key quality indicators steadily improving. In 2026, the Company will implement a “strategy-driven, lean and efficient” (戰略導向、精益高效) approach, focusing on the “Intelligent, Information-based and Lean” (智能化、信息化、精益化) strategy. By standardizing core processes and upgrading digital platforms, the Company will introduce AI technology to enhance data analysis, facilitating a transition from experience-based to data-driven decision-making. Concurrently, the Company will deepen the integration of manufacturing and R&D to comprehensively elevate efficiency, quality and competitiveness, with lean operations system serving as a powerful support for the Company’s high-quality development and business growth.
IV. OUTLOOK AND STRATEGIC FOCUS FOR 2026
Looking ahead to 2026, global technological competition and industrial chain restructuring will continue to intensify, with uncertainties persisting. However, the logic of growth driven by technological innovation has become even clearer. The Group remains confident in the resilience of China’s economy and in its own strategic positioning. The Group will focus on the following core priorities to secure the initiative in the new round of industrial transformation:
In summary, 2026 will be a critical year for testing the Group’s strategic resolve and execution efficiency. The Group will maintain strategic clarity, uphold long-termism, and leverage technological innovation as our spear and risk management as our shield. Amid turbulent market conditions, the Group will seize structural opportunities and go all out to deliver steadily growing long-term value for our shareholders, customers and society, advancing toward a new stage of higher-quality development.
V. ACKNOWLEDGEMENT
Finally, on behalf of the Board, I would like to extend my heartfelt thanks to all employees, shareholders, customers, partners and friends from all walks of life! It is your trust and support that have enabled the Company to move forward in a challenging environment. In 2026, the Company will continue to seize opportunities and meet challenges with unwavering determination and a pragmatic attitude to create greater value for its shareholders and contribute more integrated circuits and digital technology, green energy, and telecommunications solutions to the society.
