Stock code: 688375 Stock abbreviation: Guobo Electronics

Nanjing Guobo Electronics Co., Ltd

Q1 2025 Report

The Board of Directors and all directors of the Company guarantee that there is no false record or misleading statement in the content of this announcement

or material omissions, and bear legal responsibility for the authenticity, accuracy and completeness of its content in accordance with the law.

Important content tips

The Board of Directors, the Board of Supervisors, the directors, supervisors and senior management of the Company guarantee that the contents of the quarterly report are true, accurate and complete, and that there are no false records, misleading statements or material omissions, and bear individual and joint legal liability.

The person in charge of the company, the person in charge of accounting and the person in charge of the accounting institution (accounting supervisor) shall ensure the truthfulness, accuracy and completeness of the financial information in the quarterly report.

Whether the first quarter financial statements are audited

□ Yes √ No

1. Main financial data

(i) Key accounting data and financial indicators

Unit: Yuan Currency: RMB

This reporting period is comparative

Item Current reporting period Same period last year Year-on-year change

Dynamic amplitude (%)

Operating income 350,016,384.48 693,204,264.14 -49.51

Net profit attributable to shareholders of listed companies 57,531,429.42 120,776,726.47 -52.37

Deductions attributable to shareholders of listed companies are not 57,460,887.49 118,396,875.27 -51.47

Net profit from recurring gains or losses

Net cash flow from operating activities -200,868,161.25 -240,764,880.71 Not applicable

Basic earnings per share (RMB/share) 0.10 0.20 -50.00

Diluted earnings per share (RMB/share) 0.10 0.20 -50.00

Weighted average return on equity (%) 0.93 1.99 decreased by 1.06 hundred

Equinox

Total R&D investment 59,575,648.59 78,792,100.04 -24.39

The ratio of R&D investment to operating income 17.02 11.37 increased by 5.65 hundred

(%) Points

The end of the reporting period

End of the reporting period End of the previous year End of the previous year Increase or decrease at the end of the previous year

Magnitude of change (%)

Total assets 7,604,457,678.21 7,995,335,175.06 -4.89

Owners attributable to shareholders of listed companies 6,244,658,676.19 6,185,769,875.31 0.95

Rights

(ii) Items and amounts of non-recurring gains and losses

√ Applicable □ Not applicable

Unit: Yuan Currency: RMB

Non-recurring profit or loss items Amount for the period Description

Gains and losses on disposal of illiquid assets, including impairment of assets accrued 192.61

Prepare the reversal section

Government subsidies included in the current profit and loss, but normal operation with the company

The business is closely related, in accordance with national policy provisions, in accordance with the determination of 849,492.59

standards of the government, which has a lasting impact on the company's profit and loss

Except for grants

Except for the effective hedging business related to the normal operation of the company

In addition, non-financial enterprises held financial assets and financial liabilities 517,808.22

gains and losses on changes in fair value and the disposal of financial assets and gold

Profit or loss arising from financing liabilities

Occupation of funds collected from non-financial enterprises included in profit or loss for the current period

fee

Profit or loss on entrusting others to invest or manage assets

Profit or loss from external entrusted loans

Force majeure factors, such as natural disasters

loss of assets

Reversal of impairment charges for receivables that are tested separately for impairment

The company obtains investment from subsidiaries, associates and joint ventures

The cost is less than that of the investment acquired, and the investee should be identifiable

Gain from the fair value of net assets

Subsidiaries resulting from a business combination under the same control from the beginning to the merger

net profit or loss for the current period

Gains or losses on the exchange of non-monetary assets

Profit or loss on debt restructuring -1,283,671.20

A one-off occurrence due to the cessation of the relevant business activities of the enterprise

Expenses, such as expenses for the placement of employees, etc

Profit or loss for the current period due to the adjustment of laws and regulations such as taxation and accounting

one-time impact

Shares recognized at one time due to the cancellation or modification of the equity incentive plan

Pay the fee

For cash-settled share-based payments, after the vesting date,

Gains or losses arising from changes in the fair value of employee compensation payable

Investment premises that are subsequently measured using the fair value model

Gains or losses arising from changes in the fair value of assets

Proceeds from transactions where the price of the transaction is clearly unfair

Losses arising from contingencies unrelated to the normal operation of the company's business

benefit

Custody fee income obtained from entrusted operations

Other non-operating income and expenses other than the above items -706.96

Other profit or loss items that meet the definition of non-recurring profit or loss

Less: Income tax impact of 12,573.33

Impact of Minority Interest (After-Tax)

Total 70,541.93

The company recognized the items not listed in the "Explanatory Announcement No. 1 on Information Disclosure of Companies Offering Securities to the Public - Non-recurring Gains and Losses".

If it is determined as a non-recurring profit or loss item and the amount is significant, the "Explanatory Announcement No. 1 on Information Disclosure of Companies Offering Securities to the Public".

The non-recurring profit and loss items listed in the "Non-recurring Profit and Loss" are defined as recurring profit and loss items, and the reasons should be explained.

□ Applicable √ Not applicable

(3) The circumstances and reasons for changes in the main accounting data and financial indicators

√ Applicable □ Not applicable

Project Name Percentage of Change (%) Main Reasons

Operating income -49.51

Net profit attributable to shareholders of listed companies -52.37 was mainly due to T/R components and RF modules during the reporting period

Deductions attributable to shareholders of listed companies were not attributable to a decrease of -51.47 income.

Net profit from recurring gains or losses

Basic earnings per share (RMB/share) -50.00 was mainly due to the decrease in the company's net profit during the reporting period.

Diluted earnings per share (RMB/share) -50.00

2. Shareholder information

(1) The total number of ordinary shareholders and the number of preferred shareholders whose voting rights have been restored, and the shareholding status of the top 10 shareholders

Unit: shares

Total number of common shareholders at the end of the reporting period 6,970 Total shareholders of preferred shares whose voting rights were restored at the end of the reporting period /

Number (if any)

Shareholdings of the top 10 shareholders (excluding shares lent through refinancing)

Contains refinancing staking, tokenization, or freezing

Shareholders Shareholdings Holding Limited Sale Notes Lending Shares Settlement

Name of shareholder Nature Number of shares held Proportion Number of shares Number of restricted shares

(%) Number of shares

Quantity status

CLP Guoji Southern Group State-owned 213,745,979 35.86 213,560,151 213,560,151 None

Limited Company Legal Person

China Electronics Technology Group is state-owned

Company 55 Research Corporate 99,196,452 16.64 99,196,452 99,196,452 None

place

CETC Guowei (Tianjin)

IC Chip Partnership Other 92,010,301 15.44 0 0 None

Enterprise (Limited Partnership)

Tianjin Fenghe Technology Partnership Other 44,422,502 7.45 0 0 Pledge 44,422,

Enterprise (Limited Partnership) 502

Nanjing Xinrui equity investment

Partnership (Limited Contract) Other 33,496,587 5.62 0 0 None

Gang)

CETC Investment Holdings State-owned 20,062,325 3.37 17,785,951 17,785,951 None

Limited to corporate legal persons

Gongqingcheng Zhonghuike Yuantou

Partnership (Limited Contract) Other 16,843,407 2.83 0 0 None

Gang)

Industrial and Commercial Bank of China shares

Ltd.-Huaxia Jun Other 4,915,118 0.82 0 0 None

Flexible configuration of industrial safety mixing

Synthetic securities investment funds

domestic

Guangzhou Yuebo Electronic Technology Non-State 4,417,266 0.74 0 None

Limited company has the law

person

China Merchants Bank Co., Ltd

Company-China Shanghai Securities Branch

Genesis 50 Component Trading Other 4,345,848 0.73 0 0 None

Open-ended index securities investment

funds

Shareholdings of the top 10 unrestricted shareholders (excluding shares lent through refinancing)

Name of shareholder Holding unrestricted stream Type and number of shares

Number of shares Type of shares Number of shares

CETC Guowei (Tianjin) Integrated Circuit Chip Partnership (92,010,301 RMB) ordinary 92,010,301

Limited to partnership) shares

Tianjin Fenghe Science and Technology Partnership (Limited Partnership) 44,422,502 RMB ordinary 44,422,502

share

Nanjing Xinrui Equity Investment Partnership (Limited Partnership) 33,496,587 RMB ordinary 33,496,587

share

Gongqingcheng Zhonghui Keyuan Investment Partnership (Limited Partnership) 16,843,407 RMB ordinary 16,843,407

share

Industrial and Commercial Bank of China Co., Ltd. - Huaxia Military Safety Spiritual 4,915,118 RMB ordinary 4,915,118

Active allocation of hybrid securities investment fund stocks

Guangzhou Yuebo Electronic Technology Co., Ltd. 4,417,266 RMB ordinary 4,417,266

share

China Merchants Bank Co., Ltd. - ChinaAMC SSE STAR Market 50 into 4,345,848 RMB ordinary 4,345,848

ETFs

Industrial and Commercial Bank of China Co., Ltd.-E Fund SSE Kechuang 3,118,257 RMB ordinary 3,118,257

Board 50 Component Exchange-Traded Securities Investment Fund Stocks

Agricultural Bank of China Co., Ltd. - Great Wall Jiujia Innovation 2,500,000 RMB Ordinary 2,500,000

Long flexible allocation of hybrid securities investment fund stocks

CETC Investment Holdings Limited 2,276,374 RMB ordinary 2,276,374

share

The above-mentioned shareholder affiliation may be consistent with CLP Guoji South Group Co., Ltd., the 55th Research Institute of China Electronics Technology Group Corporation, and the China Electronics Technology Group Corporation

Description of the operation of the power technology investment holding Co., Ltd. is also a subordinate unit controlled by China Electronics Technology Group Co., Ltd.

The executive partner of Gongqingcheng Zhonghui Keyuan Investment Partnership (Limited Partnership) is Huihua Fund

Management Co., Ltd., CETC Investment Holdings Co., Ltd. holds Huihua Fund Management Co., Ltd

14.00% of the shares.

In addition, the Company does not know whether the above-mentioned shareholders have other related relationships and concerted party relationships

The top 10 shareholders and the top 10 are unlimited

Selling shareholders participate in margin trading and refinancing

Explanation of business (if any)

Shareholders holding more than 5% of the shares, the top 10 shareholders and the top 10 shareholders of unrestricted tradable shares participate in the lending of shares in the refinancing business

□ Applicable √ Not applicable

The top 10 shareholders and the top 10 shareholders of unrestricted tradable shares have changed compared to the previous period due to the refinancing loan/repayment

□ Applicable √ Not applicable

3. Other reminders

Other important information about the company's operations in the reporting period that investors need to be reminded of

□ Applicable √ Not applicable

4. Quarterly financial statements

(1) The type of audit opinion

□ Applicable √ Not applicable

(2) Financial statements

Consolidated balance sheet

March 31, 2025

Preparation unit: Nanjing Guobo Electronics Co., Ltd

Unit: Yuan Currency: RMB Audit Type: Unaudited

Project March 31, 2025 December 31, 2024

Liquid asset:

Monetary funds 1,943,963,983.86 2,356,235,139.58

Settlement Provisions

Lending funds

Tradable financial assets 120,517,808.22

Derivative financial assets

Notes receivable 472,061,221.87 722,920,443.67

Accounts receivable 2,672,242,850.59 2,626,868,163.31

Receivables financing 11,019,398.85 12,914,349.05

Prepayments 3,227,542.60 2,739,437.76

Premiums receivable

Reinsurance receivables

Reserve for reinsurance contracts receivable

Other receivables 764,588.15 601,699.00

Where: interest receivable

Dividends receivable

Buy and sell back financial assets

Inventory 346,109,095.66 256,158,437.55

Where: data resources

Contract Assets

Assets held for sale

Non-current assets that mature within one year

Other current assets 1,795,600.05

Total current assets 5,569,906,489.80 5,980,233,269.97

Non-current assets:

Loans and advances are issued

Debt investment

Other debt investments

Long-term receivables

Long-term equity investment

Investments in other equity instruments

Other non-current financial assets

Investment real estate 97,811,350.63 99,116,328.67

Fixed assets 1,450,322,761.93 1,393,403,952.78

Construction in progress 212,898,778.17 241,967,051.29

Productive biological assets

Oil and gas assets

Right-of-use assets 91,338,351.53 99,920,409.68

Intangible assets 106,732,756.37 101,975,738.26

Where: data resources

Development expenditures

Where: data resources

goodwill

Long-term amortized expenses 676,650.90 783,490.53

Deferred income tax assets 74,770,538.88 72,353,213.88

Other non-current assets 5,581,720.00

Total non-current assets 2,034,551,188.41 2,015,101,905.09

Total assets 7,604,457,678.21 7,995,335,175.06

Current Liabilities:

Short-term borrowing

Borrowing from the Central Bank

Split funds

Transactional financial liabilities

Derivative financial liabilities

Notes payable 318,348,825.92 726,973,989.25

Accounts payable 865,592,912.54 770,712,252.69

Advance Receipts

Contract liabilities 4,112,317.90 4,016,219.83

Proceeds from the sale and repurchase of financial assets

Absorption of deposits and interbank deposits

Acting as an agent for the purchase and sale of securities

Acting as an agent for underwriting securities

Employee compensation payable 29,318,025.04 134,410,650.54

Taxes payable 9,307,364.59 40,552,438.50

Other accounts payable 817,666.39 925,113.69

Where: Interest payable

Dividends payable

Fees and commissions payable

Reinsurance payable

Liabilities held for sale

Non-current liabilities due within one year 35,253,540.23 35,186,744.98

Other current liabilities 253,209.62 240,716.85

Total current liabilities 1,263,003,862.23 1,713,018,126.33

Non-current liabilities:

Reserve for insurance contracts

Long-term borrowing

Bonds payable

Among them: preferred shares

Perpetual bonds

Lease liabilities 63,106,834.26 62,199,144.37

Long-term payables

Long-term payable employee compensation

Projected liabilities

Deferred income 33,688,305.53 34,348,029.05

Deferred tax liabilities

Other non-current liabilities

Total non-current liabilities 96,795,139.79 96,547,173.42

Total liabilities 1,359,799,002.02 1,809,565,299.75

Owner's Equity (or Shareholders' Equity):

Paid-up capital (or share capital) 596,014,900.00 596,014,900.00

Other Equity Instruments

Among them: preferred shares

Perpetual bonds

Capital reserve 4,134,749,251.78 4,134,217,933.06

Less: Treasury shares

Other comprehensive income

Special reserves 16,229,444.44 15,403,391.70

Surplus reserve 207,865,153.64 207,865,153.64

General Risk Provisions

Undistributed profit 1,289,799,926.33 1,232,268,496.91

Equity attributable to owners of the parent company (or shares 6,244,658,676.19 6,185,769,875.31

East Equity) total

Minority interests

Owners' equity (or shareholders' equity) is 6,244,658,676.19 6,185,769,875.31

plan

Liabilities and owners' equity (or shareholders 7,604,457,678.21 7,995,335,175.06

equity) total

The person in charge of the company: Mei Bin The person in charge of accounting: He Lina The person in charge of the accounting institution: Jia Yan

Consolidated income statement

January-March 2025

Preparation unit: Nanjing Guobo Electronics Co., Ltd

Unit: Yuan Currency: RMB Audit Type: Unaudited

Project Q1 2025 Q1 2024

1. Total operating income 350,016,384.48 693,204,264.14

Among them: operating income 350,016,384.48 693,204,264.14

Interest income

Premiums earned

Fee and commission income

2. Total operating costs 288,618,809.40 556,830,962.14

Including: operating costs 199,479,982.06 446,192,484.35

Interest expense

Handling fees and commission expenses

Surrender Benefit

Net payout expense

Draw down the net amount of insurance liability reserves

Policy dividend payouts

Reinsurance costs

Taxes and surcharges 4,288,109.00 2,725,482.63

Selling expenses 2,545,454.09 2,083,221.57

Administrative expenses 28,333,447.73 33,712,514.78

R&D expenses 59,575,648.59 78,792,100.04

Financial expenses -5,603,832.07 -6,674,841.23

Including: interest expense 1,013,832.67 1,387,200.45

Interest income 6,623,129.23 8,063,029.63

Add: Other income 13,959,565.83 4,470,637.46

Investment income (loss is listed with "-") -1,283,671.20 1,160,739.73

Among them: investment in associates and joint ventures

income

Financial assets at amortized cost -1,283,671.20

Derecognition of earnings

Exchange gain (loss is indicated with a "-")

Net exposure hedging gain (losses are marked with a "-".)

columns)

Fair value change gain (loss is marked with "-" 517,808.22 89,041.09

Fill in the columns)

Credit impairment loss (loss is listed with "-") -15,494,594.94 15,077,314.51

Asset impairment loss (loss is listed with "-") -1,042,272.07 -27,448,010.83

Gain on disposal of assets (loss is indicated with a "-") 192.61

3. Operating profit (loss is listed with "-") 58,054,603.53 129,723,023.96

Plus: Non-operating income

Less: Non-operating expenses 706.96

4. Total profit (total loss is listed with "-") 58,053,896.57 129,723,023.96

Less: Income tax expense 522,467.15 8,946,297.49

5. Net profit (net loss is listed with "-") 57,531,429.42 120,776,726.47

(1) Classification according to business continuity

1. Net profit from continuing operations (net loss is 57,531,429.42 120,776,726.47 with "-" No. 57,531,429.42

Fill in the columns)

2. Net profit from discontinued operations (net loss is marked with "-".)

Fill in the columns)

(2) Classification according to ownership ownership

1. Net profit attributable to shareholders of the parent company (net loss 57,531,429.42 120,776,726.47

Fill in the loss with a "-" sign)

2. Minority shareholders' profit and loss (net loss is filled in with a "-" sign.)

columns)

6. Net after-tax of other comprehensive income

(1) Other comprehensive income attributable to the owners of the parent company

net after-tax of benefits

1. Other comprehensive income that cannot be reclassified into profit or loss

(1) Remeasure the change in the defined benefit plan

(2) Other comprehensive income that cannot be converted into profit or loss under the equity method

benefit

(3) Changes in the fair value of investments in other equity instruments

(4) Changes in the fair value of the enterprise's own credit risk

2. Other comprehensive income that will be reclassified into profit or loss

(1) Other comprehensive income from transferable gains or losses under the equity method

(2) Changes in the fair value of other debt investments

(3) Financial assets are reclassified into other comprehensive income

amount

(4) Other credit impairment provisions for debt investments

(5) Cash flow hedging reserves

(6) Differences in translation of foreign currency financial statements

(7) Miscellaneous

(2) Other comprehensive income attributable to minority shareholders

net amount after tax

7. Total comprehensive income 57,531,429.42 120,776,726.47

(1) Comprehensive income attributable to owners of the parent company 57,531,429.42 120,776,726.47

Total

(2) Total comprehensive income attributable to minority shareholders

8. Earnings per share:

(1) Basic earnings per share (RMB/share) 0.10 0.20

(2) Diluted earnings per share (RMB/share) 0.10 0.20

In the event of a business combination under the same control in the current period, the net profit realized by the merged party before the merger was 0 yuan, and the net profit realized by the merged party in the previous period was 0 yuan.

The person in charge of the company: Mei Bin The person in charge of accounting: He Lina The person in charge of the accounting institution: Jia Yan

Consolidated Statement of Cash Flows

January-March 2025

Preparation unit: Nanjing Guobo Electronics Co., Ltd

Unit: Yuan Currency: RMB Audit Type: Unaudited

Project Q1 2025 Q1 2024

1. Cash flow from operating activities:

Cash received from the sale of goods and provision of services 583,465,565.64 575,596,165.04

Net increase in customer deposits and interbank deposits

Net increase in borrowing from the central bank

Net increase in borrowing and lending to other financial institutions

Cash received from the premium of the original insurance contract

Net cash received from reinsurance business

Net increase in policyholders' savings and investments

Cash for interest, fees and commissions

Net increase in borrowed funds

Net increase in funds from repurchase operations

Net cash received from agents to buy or sell securities

Tax refund received was 6,040,784.48

Other cash received related to operating activities 10,992,090.00 10,045,824.38

Subtotal cash inflow from operating activities 594,457,655.64 591,682,773.90

Cash for the purchase of goods and payment for services 573,092,127.46 626,403,509.24

Net increase in customer loans and advances

Net increase in deposits with central banks and interbank funds

Cash payment of the original insurance contract indemnity

Net increase in funds withdrawn

Cash for interest, fees and commissions

Cash to pay policy dividends

Cash paid to and on behalf of employees 169,582,923.26 166,413,314.70

Taxes paid 46,743,437.01 30,036,833.75

Other cash paid related to operating activities 5,907,329.16 9,593,996.92

Subtotal cash outflow from operating activities 795,325,816.89 832,447,654.61

Net cash flow from operating activities -200,868,161.25 -240,764,880.71

2. Cash flow from investment activities:

Cash received from the recovery of investments 602,000,000.00

Cash received from investment income was 1,736,424.66

Disposal of fixed assets, intangible assets, and other long-term assets

Net cash recovered from assets during the period

Disposal of subsidiaries and other business units received

Net cash

Receipt of other cash related to investment activities

Subtotal cash inflows from investing activities were 603,736,424.66

Acquisition and construction of fixed assets, intangible assets and other long 90,452,363.25 130,886,136.14

Cash paid for the period of assets

Cash paid for investments 120,000,000.00 422,000,000.00

Net increase in pledged loans

Obtained payments from subsidiaries and other business units

Net cash

Payments of other cash related to investment activities

Subtotal cash outflow from investing activities 210,452,363.25 552,886,136.14

Net cash flow from investing activities -210,452,363.25 50,850,288.52

3. Cash flow from financing activities:

Absorb cash received from investments

Among them: subsidiaries absorb minority shareholders' investment income

to the cash

Obtain cash received from borrowing

Other cash received in connection with fund-raising activities

Subtotal cash inflows from financing activities

Cash payments for debt repayment

Distribution of dividends, profits or interest payments

cash

Where: shares paid by subsidiaries to minority shareholders

profits, profits

Other cash payments related to financing activities 20,343.25 20,343.25

Subtotal cash outflows from financing activities 20,343.25 20,343.25

Net cash flow from financing activities -20,343.25 -20,343.25

4. Changes in exchange rates on cash and cash equivalents

effect

5. Net increase in cash and cash equivalents -411,340,867.75 -189,934,935.44

Add: Opening cash and cash equivalents balance 2,321,783,773.03 2,330,673,638.90

6. Balance of cash and cash equivalents at the end of the period 1,910,442,905.28 2,140,738,703.46

Note: The difference between the balance of cash and cash equivalents at the end of the period and monetary funds is as follows: 1) Bill margin deposit of RMB 32,321,078.58; 2) The frozen deposit involved in the lawsuit is RMB 1,200,000.00.

The person in charge of the company: Mei Bin The person in charge of accounting: He Lina The person in charge of the accounting institution: Jia Yan

(3) The first implementation of new accounting standards or standard interpretations from 2025 onwards involves the adjustment of the financial statements at the beginning of the year in which they were first implemented

□ Applicable √ Not applicable

The announcement is hereby made

Board of Directors of Nanjing Guobo Electronics Co., Ltd

April 17, 2025